Through my own work, I am very familiar with the construction industry, specifically in the Northern Finland region. Tourism construction in Lapland has been running hot for several years now, and it is estimated that over 50% of the capacity is still missing. For the last two years, Lapland has also been one of the few growth areas amidst the current construction industry slump. What market niche and share Salvos captures from this pie remains for them to work on. Foreign tourists primarily want good services, but also to get away from noise and light pollution. Domestic travelers, who build for themselves and/or for rental purposes, follow the exact same criteria. Salvos can certainly provide an alternative for this. The product is solid, but competition is fierce and EBITDA margins are generally low in the construction sector. Their 9-12% target is generally excellent for the construction industry. A quality company can, however, deliver on it. I will be following this journey with interest.
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