Here are Antti’s pre-result comments as Koskisen publishes its Q4 results on Friday. 
We expect Koskisen’s revenue and earnings to have grown clearly from the comparison period in Q4. Growth and profitability have been supported especially by the strong volume growth of the Sawmill Industry and the acquisition of Iisveden Metsä. We expect Koskisen’s 2026 guidance to indicate revenue growth and, regarding the midpoint of the range, an improving adjusted EBITDA margin. We expect Koskisen to raise its dividend by approximately 40% to EUR 0.20 per share. In our view, the forecasted but, especially in terms of scale, still uncertain earnings growth is for now fairly appropriately priced into Koskisen’s share (2025e and 2026e: adj. P/E 20x and 11x).