Lassila & Tikanoja plc has demerged into two separate listed companies, Luotea plc and Lassila & Tikanoja plc, as of 31 December 2025. L&T’s real estate services business will henceforth be Luotea, and L&T’s circular economy business will be the newly listed company Lassila & Tikanoja.
Marketing brochure for the demerger as a PDF:
Lassila Tikanoja_Marketing Brochure.pdf (2.4 MB)
Luotea as a company
We are a real estate service company offering comprehensive solutions for the entire lifecycle of properties, combining energy efficiency and smart technology. In this way, we enhance property value and create the best possible conditions for property users. Our services include diverse and advanced property maintenance, technical, and expert services, as well as cleaning and support services.
Inderes initiation of coverage, comprehensive report open to everyone:
https://www.inderes.fi/files/9d52c660-dafe-4be9-9052-5f62dee1e0e7
Brief initiation comments
L&T’s Real Estate Services will continue on the stock exchange after the company’s demerger under the name Luotea. We expect the company’s earnings to rise slightly in 2026-27 and for it to generate steady cash flow. Valuation (e.g. 2026 EV/EBIT 7x) is, in our opinion, moderate. We give the company a target price of EUR 2.7 and an Accumulate recommendation.
