Rebl Group (formerly PunaMusta Media)

Here are Arttu’s comments as Rebl renews its financing. :slight_smile:

Rebl Group announced on Friday that it has agreed on refinancing arrangements and drawn a completely new EUR 9 million equity-linked hybrid loan. The goal of the arrangement is to address the company’s tight indebtedness and secure its financial position in the future. The hybrid loan, which has reasonable terms, will increase the company’s financing costs, although it provides management with the peace of mind to focus on improving the operating result through both efficiency measures and growth. We will incorporate the hybrid loan into our forecasts in connection with the next update.

Here is Arttu’s company report on Rebl Group following the latest news. :slight_smile:

Rebl Group’s 2025 was challenging due to a weak market situation, and we expect the yet-unreported Q4 to have been sluggish as well. Although cost savings and the Hansaprint acquisition support earnings, H1’26 will likely remain organically soft. December’s financing arrangements secured the company’s balance sheet, but the new hybrid loan weighed on our EPS forecasts. We reiterate our reduce recommendation, as the stock’s risk-reward profile is insufficient. The target price remains at EUR 1.05.