Here are the decisions of the Annual General Meeting. The first dividend will not be detached today, but only on May 23rd.
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From Puuiloâs investor page, the CEOâs review presentation material is now also available. One has been able to confidently follow the companyâs successes during exceptional years. In my opinion, the company management has performed excellently. Puuiloâs focus has remained on its core competence.
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Did the entire 0.7 euro dividend go ex-dividend today? If it did, then the dip is not that big.
No, it didnât detach, half of it, i.e., âŹ0.35. The rest will be paid later in the autumn.
You can check from there so you donât have to guess: Osinko | Puuilo
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A new store is coming, this time to Hollola. This store is located quite close to the Lahti store, which is about 8 kilometers away.
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Kauppalehti wrote about Puuilo:
(This has at some point gone behind a paywall)
So how do analysts following Puuilo see the companyâs share price development? According to analysts, the stock is fully priced, and there is no upside. There is dispersion regarding the recommendation, but a large part of the analysts give Puuiloâs stock a buy recommendation.
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JyvĂ€skylĂ€âs second store will open in Keljo on June 18th at 8:00 AM. Puuilo was built on a plot where Tokmanni was originally supposed to be built, but Tokmanni abandoned the project:
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I have been waiting for this, especially from an active customerâs perspective. JyvĂ€skylĂ€âs first Puuilo store is in a good location, but the parking lot is far too small. Itâs almost always full, and shopping there is sometimes difficult because of that. The new storeâs location is good, and there seems to be plenty of space for parking.
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To add to the thread, the Hollola municipal executive board approved the sale of the designated area at its meeting yesterday.
https://hollola.cloudnc.fi/fi-FI/content/30363/15683
§ 150 Sale of a designated area, Keskikankaantie 2, property 98-435-7-801, to Woodpecker VI Oy
- Purchase price of the plot 441,250 euros
- Tekova Oy is responsible for the facility project and construction
- Store size approximately 3000 sqm
- Construction is aimed to start during summer 2025
CEO Juha Saarela commented in Puuiloâs press release that Hollola and its surrounding area are a potential region for Puuilo.
âThe Lahti and its surrounding market area can accommodate a new store in addition to the current Puuilo located in RenkomĂ€ki, Lahti. Hollola is already a commercially potential city in itself, but the new store will serve customers not only from Hollola but also from the western side of the area, such as Lammi and HĂ€meenkoski.â
â https://www.puuilo.fi/tiedotteet/puuilo-avaa-myymalan-hollolaan
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Isnât it true that, in addition to the new Puuilo opening in Keljo, JyvĂ€skylĂ€ on June 18th, the current SeppĂ€lĂ€ store is also moving to new premises in SeppĂ€lĂ€?
Arttu has provided pre-earnings comments because Puuilo will publish its Q1 results tomorrow at 8:30 AM. 
We expect revenue to have continued its strong rise, mainly driven by new stores. We also expect the result to have improved, but a relative improvement in profitability is unlikely to be seen. We anticipate the company will reiterate its guidance, the midpoint of which assumes strong growth and profitability in line with the comparison period. Puuiloâs Finnish Q1 earnings webcast can be followed on inderesTV starting at 11:30 AM.
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Puuilo Plc: Business Review Q1 2025: Spring of Growth â a Good Start to the New Financial Year
Key Figures Q1/2025
- Revenue grew by 18.4% (+16.1%) and was EUR 89.3 million (75.4)
- Revenue from like-for-like stores grew by 6.5% (+4.8%)
- Online store revenue grew by 19.6% (-6.6%)
- Gross profit was EUR 33.1 million (27.6) and gross profit margin was 37.1% (36.6%)
- Adjusted EBITA was EUR 10.8 million (8.3), an increase of 31.2%, adjusted EBITA margin was 12.1% (11.0%)
- Operating profit was EUR 10.4 million (7.6), corresponding to 11.7% of revenue (10.1%)
- Operating free cash flow was EUR 13.6 million (2.3)
- Earnings per share were EUR 0.09 (0.06)
- During Q1, three new stores were opened (two new stores)
Key Financial Figures
Outlook for the financial year 2025
Puuilo reiterates the outlook for the financial year 2025 provided in its financial statement release on March 27, 2025.
The company estimates that the revenue for the financial year 2025 will be EUR 425â455 million and the adjusted operating profit (adjusted EBITA) will be EUR 70â80 million.
The outlook for the financial year includes uncertainties related to changes in purchasing power and consumer behavior. Additionally, geopolitical crises and international tensions may affect product availability and prices.
Puuilo CEO Juha Saarela:
Greetings for the summer!
The financial year started with a strong performance. First-quarter revenue grew by 18.4% and by 6.5% in like-for-like stores. Sales growth was robust also in the online store, where growth of 19.6% was reported. Customer numbers also continued to grow strongly; total growth across all stores was 18.4% and like-for-like growth was 6.9%. The average purchase remained at last yearâs level. The well-executed first-quarter sales were partly explained by an earlier start to spring compared to last year and a strong start to the garden products season.
The gross profit for the first quarter was 37.1% of revenue, an increase of 0.5 percentage points compared to the previous year. The strong growth in sales of own brands was behind the good gross profit development. Sales of own brands grew by 37.7%, and their share of total revenue also increased. Operating expenses remained well under control; the expense ratio decreased and was 19.5% of revenue. All the income statement lines described above resulted in an adjusted operating profit (adj. EBITA) of EUR 10.8 million. Operating profit grew by approximately EUR 2.6 million and was 12.1% of revenue.
During the first quarter, we opened three new stores: in Varkaus, Savonlinna, and Lohja. As usual, customers were offered free sausages accompanied by the Puuilo humppa music, and checkout queues snaked around the stores. The openings were thus very successful, and the store launches met expectations. From there, the journey continued to the opening of the MÀntsÀlÀ store, which falls into the next quarter. During the remainder of the financial year, new stores will also be opened in JyvÀskylÀ Keljo, Iisalmi, and Heinola. A total of at least seven new stores will be opened during this financial year. Growth continues!
The spring and summer season has started well. I wish a happy Midsummer and summer to all our owners, customers, and the entire company personnel!
English conference call and Finnish webcast
CEO Juha Saarela and CFO Ville Ranta will present the report on the publication date to analysts, investors, and the media in English at 10:00 a.m. and in Finnish at 11:30 a.m.
The English conference call can be followed at https://puuilo.videosync.fi/2025-q1-results*.
The Finnish webcast can be attended at https://puuilo.events.inderes.com/q1-2025. During the event, it is possible to ask questions via the chat function.
Recordings of both events will be available later on the same day on Puuiloâs investor pages at https://www.investors.puuilo.fi/fi/sijoittajat/raportit_ja_esitykset.
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And the robo-comment. Strong performance 
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Arttuâs predictions were easily exceeded:
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Strong performance considering both expectations and conditions. Hereâs a quick comment:
You can quickly suggest questions for the management interview, which will be conducted after the Finnish webcast!
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Iâd appreciate some comments on the Puuilo Company. They have clearly invested heavily in marketing there. How has that started to show?
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Yeah, itâs good to ask about âon the companyâs tabâ purchases. In that case, Puuilo is also exposed to credit losses, which do not occur at all in consumer trade.
When there are âreduceâ recommendations for such good TOP companies, some might feel a sting.
Puuiloâs share price has risen by 40% in 6 months, and if/when the economy starts to recover, itâs unlikely to stop here.
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Puuiloâs Q1â25 performance exceeded expectations in terms of both revenue and profit. This was driven by an expanded store network, but especially by revitalized like-for-like growth. Cost control was also at a good level. CEO Juha Saarela interviewed by analyst Arttu Heikura.
Topics:
00:00 Introduction
00:11 Q1 highlights
01:00 Like-for-like revenue growth
02:00 Improvement in gross margin
03:01 Sales of own products
04:06 Background to the decrease in fixed costs
05:18 Impacts of trade policy
07:24 Firman Piikki campaign
08:45 Background to guidance
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The most beautiful KPI of profitable trade: comparable growth. 
I think Iâve already harped on about this in several threads, but there it was again. With Comp. Growth, you get economies of scale for ALL retail processes: marketplace, central, local, and internal logistics, store design, store fixtures, energy, real estate costs, personnel, cleaning, checkouts, checkout services, cash costs, etc⊠And these, of course, in addition to the economies of scale in procurement, marketing, and central administration.
I missed @Arttu_Heikuraâs questions, but Arttu, keep these in your back pocket for next time. The essential thing to understand next in Puuiloâs investment story potential would be:
âą What is Puuiloâs managementâs view and experience: in which year (on average) after a store opening does growth start to slow down (=the derivative of the derivative turns negative) and when does it saturate?
âą What is Puuiloâs target for Private Label sales share and when will this target be achieved? Do they want to stay at the 5-10% level of electronics stores, aim for the 25% level of Prisma and Citymarket, or do they want to be PL market leaders like Lidl at 75%, or take it to the maximum like Ikea at 100%?
âą When is it time to try the concept in Sweden? If it resonates there, this story will get wonderful new sequelsâŠ
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At least regarding the private label share, the long-term target is 30% according to last yearâs investor day materials.
Edit. The same materials also contain good information on how stores of different ages grow and when growth saturates, etc.
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