Rusta, Verkkis, and Tokmanni have now reported that the spring/early summer season has been weak. The impact will likely also be seen at Puuilo. The biggest impact of the cold weather on the company is seen in garden products, which accounted for less than 30% of sales in 2023. At the same time, price competition has intensified, so Q2 results might be slightly weaker than usual. Puuilo is, however, known for surprises, so the analyst’s “bearish” views might be overstated 
I posted this in the Tokmanni thread, but it might fit here too
https://keskustelut.inderes.fi/t/tokmanni-mahdollisuuksien-valintatalo/2105/3327?u=sergio
PUUILO PLC, PRESS RELEASE, 23.7.2025 at 08:00
Puuilo will move its current Vantaa Virkamies store to new premises in Vantaa Tammisto in autumn 2026. The new store will open on the site of the former Plantagen on Tammisto shopping street. All current Virkamies employees will transfer to the new Tammisto store.
Thyme speculated this:
That new Tammisto retail location is truly excellent. It’s in a central location, but when you come by car, you can still avoid the traffic jams on Tammisto’s commercial road. Compared to the Virkamies store, sales are sure to increase considerably.
Tuomaala’s Hammer is also coming to Tammisto, Vantaa:
Next summer, a new store is planned to open in Tammisto, Vantaa, and after that, the aim is to grow the store network in the Helsinki metropolitan area.
Message merged into thread: Inquiries, Complaints, and Praises about Courses and Their Changes (Part 4)
I am under the impression that Ampfield Management is the largest owner with over 8 million shares:
Puuilo’s press release
Puuilo Plc (“the Company”) received on August 11, 2025, a notification in accordance with Chapter 9, Section 5 of the Securities Markets Act. According to the notification, The Capital Group Companies, Inc.'s indirect ownership in the Company’s shares and voting rights fell below the 10 percent threshold on August 8, 2025, and is now 9.84%.
OP maintains its Reduce recommendation and €13.50 target price while anticipating Q2 results. They have slightly adjusted forecasts downwards due to poor early summer weather. However, they still trust that Puuilo has performed strongly, but since the valuation is so stretched compared to Nordic peers, it is difficult to generate returns in the short term.
The valuation has been bracketed with an EV/EBIT multiple of 17x and 15x, and P/E 20x - 18x.
While picking up a doormat for the hallway, I also grabbed some nuts and a berry picker for the kid.
Additionally, after the checkout, I started asking the staff if it would be possible to set up a company account for the housing company.
They couldn’t answer immediately but advised me to call customer service and also promised to look into the matter. It wasn’t such a hectic issue, so I said that as long as the wish for housing company accounts progresses, I’ll be satisfied.
We strolled to the vehicle, I lifted the mat into it, and from behind I heard: “Hey, could I take your number?” and things started to move forward.
A couple of minutes later, the phone rang and the matter was resolved. The housing company can apply for a company account.
We previously had an account at K-Rauta, but the benefits at Puuilo are clear:
Now, all owners together should open company accounts for housing companies and organize small renovations and communal work parties.
Puuilo’s good rise in the Brand Valuation study 
Better than, for example, Tokmanni’s, Rusta’s, or Motonet’s rankings. Link to the news Results published: Here are Finland’s 700 most valued brands | Kauppalehti and an excerpt from the news (screenshot)
Puuilo updates its long-term targets in connection with the half-year report:
Updated long-term targets
Puuilo will publish updated long-term targets for the strategy period 2026–2030 as part of its half-year report. Puuilo’s management will present the company’s business and updated strategy in connection with the earnings release presentations on September 11, 2025. More detailed information on participating in the conference call and webcast is available above.
CMD was in April 2024:
Grafton group has published its half-year results. IKH’s like-for-like revenue continues to decline in July and August. The can has been kicked to 2026, when Grafton expects a slow recovery in the building materials market. IKH is a wholesaler for Puuilo, but these figures are unlikely to affect Puuilo’s performance in any way. The update of Puuilo’s long-term targets points to positive things, as there would otherwise be no hurry to update them.
IKH operates in Finland
Average daily like-for-like revenue declined by 4.2 per cent compared to prior year primarily due to challenging market conditions, unfavourable weather patterns which reduced sales of seasonal products and temporary operational challenges which affected the internal supply chain which are being decisively and actively addressed. The Finnish construction sector’s recovery, following two years of decline, has been slower than anticipated, with a lack of large projects intensifying market competition and new building starts at a 30-year low. To address supply chain operational challenges in the period, targeted process improvements and inventory management initiatives have been implemented by the new supply chain management team.
Hello again to everyone in the thread. As Arttu is on paternity leave, I’m making a temporary return to Puuilo after a two-year break. I carefully examined what has happened in this “quarter” which has stretched a bit longer for me.
The company has indeed performed better than I even dared to dream, even though the forecasts at the time were, in my opinion, very bold. In this extensive 2023 report Defensiivinen kasvuyhtiö - Inderes, I expected, among other things, the 2025e EBITA to be slightly under 70 MEUR, and now our forecast is already around 80 MEUR.
It’s worth joining the call on Thursday, as the company will update its targets for the new strategy period 2026-2030 and also elaborate on its strategy for these years.
What kind of expectations/wishes do other esteemed forum members have for that new strategy period?
My only hope is that we don’t start branching out and seeking growth into new brands or countries.
I personally think that they will increase the share of their own brands in stores. These have a better margin than other products. Based on this, they will raise the profit target somewhat from the current target. They will not expand abroad, and the pace of opening new stores will remain the same as announced during the previous strategy period.
If I had to purely guess, I’d bet that they’ll stay domestic, the revenue target for 2030 will be over €800 million, and the EBITA margin target will be raised to over 18%. This wouldn’t require extraordinary growth on top of the current 2028 target, and the current profitability target is already “in the bag,” which would be supported by the increased share of own brands. Sweden will then be looked at, estimated, in 2027-2028 in connection with a strategy update.
I assume that they will announce Finland’s growth potential to be greater than before. Meaning that it is possible to open more stores in Finland than the previously announced number. And with this, they will naturally also raise the revenue forecast up to 2030. I don’t believe that international expansion will be done yet, as there is room to grow domestically. So in other words, they will continue good and predictable growth also after 2028.
At the previous general meeting, Susanne Hounsgaard, who earned her spurs at Normal, was elected to the board. I already assumed then that expansion into the Nordic countries would at least be investigated.
Puuilo has started establishing new stores in localities where, for example, Tokmanni is present. This is good because the same goods are significantly cheaper there than at Tokmanni. They also specialize in electrical, plumbing, and building materials products. Many blue-collar workers frequent the stores. At Puuilo, returning goods is also much easier. They don’t overextend themselves in establishing new stores, as that’s precisely what costs money. I look forward with interest to the upcoming interim report.