Here are Joni’s comments on Netum’s negative profit warning.
Netum published a profit warning on Wednesday, in which the company lowered its 2026 guidance for both revenue and profitability. The warning did not come as a complete surprise to us, as we had already highlighted a clear risk of a downward revision to profitability guidance in connection with the Q1 report due to the challenging market situation and intense price competition. The profit warning reinforces our view that there is no rush to jump on board the stock yet. The release creates slight downward pressure on our forecasts, and we will update the figures no later than in the earnings preview.