Here are Antti’s pre-match comments, as the company reports its results this Friday 
Both our expectations and the consensus point towards a result slightly weaker than the strong comparison period, despite the inorganic growth from the acquisition of Iisveden Metsä. Koskinen will reiterate its broad guidance. The company’s market situation has remained challenging, particularly due to the prolonged downturn in construction, and the potential macro reflections of the war in Iran have further increased the uncertainty related to the recovery expectations of the construction sector. In our view, Koskinen’s share is roughly correctly priced on a 12-month horizon (2026e: P/E 14x, EV/EBITDA 7x, P/B 1.2x).