The good news is that no one sees any issues with the company’s internal operations. They are keeping their head above water, sitting on a pile of cash almost like a bandit chief, and the cash position is only set to improve this year, when a significant one-off payment from the Oulu Torihotelli project is also expected.
Everyone is waiting (apparently for nothing else) for clear signs of a pickup in housing demand to emerge. When these miraculous signs appear on the horizon like coltsfoot on a spring roadside, the perception of the company’s value will apparently change as if by magic.
This happens when the observation period is short and the engine’s momentum is influenced by external factors (not least human psychology), which can change in a very short time. At the same time, everyone knows it is only a matter of time before demand starts to rise, and current construction volumes are completely inadequate to satisfy even normal demand.