Here are Viljakainen’s comments on Koskisen’s Q1 results. 
The main outlines of Koskisen’s Q1 report, published this morning, were already known following the profit warning and preliminary Q1 data released by the company on Wednesday. The company’s profitability developed weaker than our expectations in both business segments. Due to the weak Q1 result and the clearly lowered profitability guidance, there is significant downward pressure on our earnings forecasts, as well as consensus forecasts, at least for the current year. Koskisen’s share hardly reacted to Wednesday’s profit warning, but considering the fairly strong profit warning and the overall picture of the Q1 report, we see the risks related to today’s share price reaction as negative.