Here are Frans’s comments on Loihde’s Q4 report published this morning. 
Loihde published a stronger-than-expected Q4 result on Friday, driven particularly by the strong performance of Security Solutions. Especially Q4 profitability clearly exceeded our expectations. The 2026 guidance points to steady or improving revenue and earnings, which is in line with our forecasts following the strong Q4 report. The company also delivered another dividend surprise, and the board proposes a dividend of EUR 1.00 per share. We expected a smaller dividend in light of the large BLC Turva acquisition, but the company’s balance sheet remains in strong shape. The report reinforced our confidence in the progress of Loihde’s strategy and created slight upward pressure on our forecasts, even though we already expect a clear operational step-up in the coming years.