There is a good article about Valmet in the latest Arvopaperi. The article is behind a paywall, so I won’t link it. For those who have read it, what are your thoughts? I agree that an end to the war in Iran and the tariff turmoil would improve Valmet’s situation as investment decisions would move forward. The valuation relative to peers seemed to be in line with Andritz, i.e., forest/pulp side valuation. On the other hand, process and valve peers are valued higher. Of course, the company itself needs to nudge profitability toward target levels as well, so that the likes of ABB, Siemens, etc., would be more relevant peers, even in terms of their respective revenue segments.
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I haven’t read the article in question myself, so I cannot comment specifically on its content. However, I wouldn’t necessarily hold up a company like ABB as a peer; although there are some overlapping solutions, they are quite limited. More suitable peers for the Flow Control side would be, for example, IMI and Rotork. The multiples there are high, and relative to them, Valmet’s Process Item Efficiency segment alone covers the entire group’s current market cap (mcap). Of course, it’s not quite that straightforward, but it still gives an idea of the value hidden within.
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Valmet has concluded the change negotiations initiated earlier in 2026 regarding changes to the Global Supply Chain unit’s production network in Sweden and Poland and planned fixed-term layoffs in Finland.
The change negotiations related to production operations in Sweden and Poland were launched in March 2026 to support the long-term competitiveness of Valmet’s Biomaterials Solutions and Services segment and to improve the efficiency of the company’s global production network. As a result of the change negotiations, Valmet will implement changes to its operations in Sweden and Poland, including the closure of the Sundsvall production unit in Sweden as well as changes in Gothenburg, Sweden, and Jelenia Góra, Poland. The measures affect a total of approximately 350 positions in Sweden and Poland.
Furthermore, Valmet has concluded the change negotiations initiated in April 2026 regarding fixed-term layoffs in Finland. The objective of the planned measures is to secure profitability and competitiveness by adjusting capacity to a lower-than-anticipated workload. As a result of the change negotiations, fixed-term layoffs will be implemented in Finland, affecting approximately 2,400 employees between June 2026 and the end of December 2026. The layoffs are temporary in nature, with a maximum duration of 90 days, and will be carried out according to the workload situation.
Valmet is committed to working closely with its personnel and employee representatives and to providing support to the employees affected by the changes during their implementation.
Valmet has approximately 18,500 employees worldwide.
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Valmet has been selected to supply a hard-nip sizer with stock preparation and related services to a customer in Europe. The investment enables the customer’s sustainable business renewal by optimizing raw material usage and improving quality. The goal is to reduce starch and fiber consumption without compromising the strength properties of the end product. The start-up is scheduled for spring 2027.
The order was included in Valmet’s orders received for the first quarter of 2026. The value of the order will not be disclosed.
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This morning, OP published a list of potential companies at risk of issuing profit warnings, and Valmet was “included” in the Significant risk of a negative profit warning list, along with Kemira, Tokmanni, KH Group, Lassila & Tikanoja, Wetteri, and Tietoevry.
The reasoning provided was that Valmet’s own guidance for 2026 revenue is that it will remain at approximately the same level as before, and profitability will either remain unchanged or improve slightly.
However, according to OP, the market situation remains uncertain. Customers may postpone investment decisions or delay planned projects, which could slow down Valmet’s business.
Valmet is suffering from rising prices of parts and components, which increases costs. Due to this, the analyst estimates that the company’s comparable EBITA will decrease by approximately three percent in 2026.
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Valmet will supply a district heating network optimization solution to Okun Energia Oy’s Miilu heating plant area in Outokumpu. The solution enables cost-effective and operator-independent district heat production and network control. It also plays a critical role in the efficient utilization of waste heat from a local data center, enhancing energy management and optimizing the performance of the entire district heating network. The network serves a municipality of 6,000 residents in Eastern Finland.
Approximately 2.7 million Finns live in buildings heated by district heating. Nationally, district heating’s share of the heating market is nearly 50 percent, while globally its share in building and industrial heating is about 10 percent. In Finland’s largest cities, its market share exceeds 90 percent. Okun Energia Oy’s district heating network spans approximately 30 kilometers and supplies heat to buildings with a total combined volume of over one million cubic meters.
The company’s heat is mainly produced using waste heat from a local data center and two fluidized bed boilers (leijupetikattila) fueled by local bioenergy. The data center generates waste heat at a steady 3.7 MW output, which enables a reduction in bioenergy use by up to 50 percent year over year. The company’s total thermal capacity is 55 MW.
The order was included in Valmet’s first quarter 2026 orders. The value of the order will not be disclosed. The delivery will be handed over to the customer during the second quarter of 2026.
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Valmet will deliver a new stationary lime cooler to the Heinzel Pöls pulp mill in Austria. The new cooler will significantly improve the energy efficiency of the lime kiln compared to the rotary cooler currently in use at the mill, reduce maintenance requirements, and enable an increase in the capacity of the existing lime kiln.
The order was included in Valmet’s orders received for the first quarter of 2026. The value of the order will not be disclosed. The new cooler is scheduled to be commissioned in the fourth quarter of 2027.
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Sappi Southern Africa has selected Valmet to deliver an extensive EPC (Engineering, Procurement, and Construction) package covering the engineering, procurement, and installation for the replacement of recovery boiler components at the Saiccor mill. The renewal of these critical boiler parts will improve the mill’s operational safety, reduce the risk of unplanned shutdowns, and enhance the overall reliability of the facility.
The order was included in Valmet’s orders received for the first quarter of 2026. The value of the order will not be disclosed. The delivery and installation work will be carried out during a major shutdown in February 2027.
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Jani Järvinen from Sijoituskästi talks in the video (duration approx. 2.5 minutes) about Valmet, its large order from a couple of years ago, and its impacts 
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Valmet’s long-term customer Lenzing AG, an Austrian-based global leader in dissolving pulp and regenerated cellulose fibers, is modernizing its Lenzing production facility by implementing a comprehensive Valmet DNAe automation system (DCS) for the plant’s 1K6 gas boiler. The new system replaces a third-party system that has reached the end of its lifecycle and introduces modern DNAe technology. It offers long-term availability, state-of-the-art cybersecurity, improved reliability, and an automation system scalable for future needs. As a critical system, it ensures the safe, secure, and high-performance operation of the plant.
The order is included in Valmet’s orders received for the second quarter of 2026. The value of the order will not be disclosed. The delivery will be handed over to the customer during the first quarter of 2027.
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Valmet has received an order from Gren Tartu to supply a flue gas condenser and heat pumps for the Tartu biomass combined heat and power (CHP) plant in Estonia. The solution will increase the heat delivered to the local district heating network.
The new equipment recovers heat from the power plant’s flue gas and upgrades its thermal value into district heat using heat pumps. The solution adds over 10 MW of additional heat to the district heating network. This enables higher district heat production with less fuel and lower emissions.
The order is included in Valmet’s orders received for the second quarter of 2026. The value of the order will not be disclosed.
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Valmet is expanding its offering for the growing fiber-based packaging market by launching Valmet 3D Fiber technology. Thanks to Valmet’s new technology, high-quality three-dimensional fiber packages can be produced quickly and on a large scale. It offers packaging material manufacturers a competitive end-to-end solution for the growing need to replace plastic packaging with more sustainable alternatives.
Valmet 3D Fiber technology and its end products offer Valmet’s customers broader market opportunities than traditional molded fiber technology. The technology allows cellulose fiber to be used to produce lightweight yet rigid end products, such as trays, plates, and food packaging. Additionally, the process enables the efficient recycling of side streams and cutting waste within the production, which improves overall process efficiency and supports the circular economy.
The launch strengthens Valmet’s strategic focus on continuous innovation together with customers. It supports the company’s goal of being a pioneer in the circular economy by developing solutions that promote the use of renewable materials and resource efficiency. The development of Valmet 3D Fiber technology is based on long-term cooperation with Metsä Spring, the innovation company of Metsä Group. Since 2020, Valmet and Metsä Spring have been jointly developing a new production concept that converts wood-based fibers into sustainable packaging solutions.
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