contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    pageUrl
    id
  }
  tags {
    name
    id
  }
  ... on Video {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
  ... on Webcast {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
      researchContent {
        title
        lang
        pdfUrl
        relatedContent {
          __typename
          ...PublishingDetails
          ...Reactions
          id
        }
        content {
          title
          lang
          htmlBody
          publishedAt
          createdAt
          changedAt
          isOutdated
          isPremium
        }
      }
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

changedAt

Admicom operates in the IT sector. The company develops cloud-based services that mainly concern administration, accounting, payroll and project management. In addition to its main business, it offers training and customer support. Its customers are small and medium-sized corporate customers, with the largest operations in construction and industry. The head office is located in Jyväskylä.

Options don’t quite work that way, though. I mean, they didn’t just hand out some 1.2 million euro pot to the management team today for midsummer partying. Those shares still need to be subscribed, and if the stock price continues its recent nosedive toward zero, the management won’t see a single cent from these.

Stock options seem to be in high demand, and no wonder. I would probably accept them too.  Today, 46,374 shares have been reported (2026A stock options). Unit price: 0 EUR.  At the current share price of €25.9, that amount is worth about €1.2M. Not a bad way to head into the Midsummer holidays.  Since the company has been doing well, what could be better than sharing the fruits of labor with retail investors. The amount is about 55X the size of the model portfolio’s position.

Atte has published a new company report on Admicom following the profit warning and the pre-silent period call.   We reiterate our Buy recommendation for Admicom and lower our target price to EUR 40.0 (prev. EUR 45.0). Admicom issued a profit warning just over a week ago, leading us to revise our earnings forecasts for the coming years downwards by approximately 3-5%. Admicom’s share price has fallen more than this in response to the profit warning, and the valuation (2026e adj. EV/EBIT 10x) has dropped even lower. We still believe the company’s growth will pick up in the coming years and that the stock offers a very good expected return as this materializes.                    Inderes              Admicom: Lievä tulosvaroitus ennusteisiin - Inderes    Hiljaista jaksoa edeltävässä puhelussa käsiteltiin tuoretta tulosvaroitusta.

Admicom held a pre-silent call today, and here is the recording:                                                      https://5137768.fs1.hubspotusercontent-eu1.net/hubfs/5137768/Admicom%20-%20sijoittajat/Videot/Admicom%20Q2%20pre-silent%20call-20260615_100231-Meeting%20Recording.mp4

As someone who follows the construction industry closely, I have been reflecting on Admicom’s opportunities for growth in the domestic market. Easoft, Fondion, and Evelia are direct competitors that have gained significant market share in recent years. In addition to these, there is a slew of other companies operating in the sector, but Easoft and Fondion are the clearest threats from Admicom’s perspective. Easoft is also a Jyväskylä-based software company, which was acquired by the Danish company EG at the end of '24. EG also owns Jydacom, which is the enterprise resource planning (ERP) system used by the largest construction companies. Admicom is unable to displace Jydacom’s position as the software provider for the largest construction firms, and Easoft competes in the same customer segment against Admicom’s Ultima. Fondion, on the other hand, is a relatively new player in the field, with former Admicom employees among its founders. Employees responsible for the technical side jumped from Admicom to Fondion, so one could assume there are some similarities in the software itself. In the most recent financial year, they achieved two million in revenue growth, also turning the bottom line positive. What causes problems for Admicom in the competition against the aforementioned and other construction software is the “all-in-one” nature of the software suite. When choosing Ultima, a company’s current accountant is forced to switch their financial management software to Ultima, or the company must switch accounting firms entirely to one that also uses Ultima. Competitors, conversely, work through integrations with the major financial management software packages. This creates hurdles, as in the most difficult cases, an entrepreneur would have to be persuaded to change their accounting firm as well when switching their ERP. Growth is also limited by entrepreneurs’ reluctance to switch software. Digitalization in the construction industry is at such a low level that once an entrepreneur adopts a program to facilitate daily operations, it will likely remain in use for a very long time. Since most small construction and building services companies only need specific features that are found in almost all software, it is difficult to justify the need for a software change to an entrepreneur. Switching would mean an onboarding process for both the entrepreneur and the employees. Learning a new program alongside work and the challenges it brings is a real issue, especially for slightly older entrepreneurs in the field. Functionality is another area where competitors have been catching up to Admicom in recent years. For example, Fondion has a quantity takeoff tool directly integrated into its main software. The functionalities promised for Admicom’s quantity takeoff tool, Quantima—which should have arrived a year ago—are still missing, including integrations with their own programs Ultima and the cost estimation tool Estima. Admicom has seen a lot of turnover in recent years, which has provided opportunities for former Admicom employees in other companies in the industry. In addition to those behind Fondion mentioned earlier, former CFO Petri Aho is the CEO of competitor Evelia, and Joni Haapamäki, who held various sales roles and served as Business Unit Director, moved to become the CEO of Aceve (formerly known as Pajadata). As a concluding remark, I would say Admicom’s products are good. Ultima is very extensive in its functionality, but a large part of those features are useful to only a small fraction of entrepreneurs in the field. The construction industry will continue to digitalize, but the competitive landscape has completely changed compared to, for example, the beginning of the decade.

I have now read through this entire thread over a couple of days. An interesting company and an amazing start to its journey on the stock exchange. But then came COVID and the construction slump. And the “entry of the Swedes,” as founder Häll puts it, likely had a major impact on the firm as well. Costs started to rise and the culture probably began to change too. The early years also saw a broader shift in ownership. In addition to the Swedes, others joined: funds, pension companies, and foundations. The original owners cashed in on the fruits of their labor. Currently, Admicom has no “faced” owner (kasvollista omistajaa). I’m not sure what to do. To buy or not? It’s easy to look at the past and hope for the same kind of rise as before COVID. But the company is different now, because so many executives have come and gone! There have been five CEOs since 2019. That is high turnover and speaks to a chaos in management. Another thing I’m considering is internationalization. It has been talked about for years, and the only thing achieved was a small acquisition in Estonia. Well, maybe it was a good move? I haven’t looked closely at what kind of synergy was gained from it. A few years ago, a strategic choice was also made to focus solely on construction. Could they have chosen a specific area within the industrial sector in addition to that? On the other hand, the firm has fared surprisingly well during this construction slump. I’ll keep following the development, even though the share price is at an all-time low.. Maybe.

Here are Roni’s comments regarding Admicom’s profit warning   Admicom announced on Monday evening that it is lowering its growth guidance for the current year due to the prolonged challenging situation in the Finnish construction market. However, the company’s profitability guidance remained unchanged, which is a small relief. Although we were already at the lower end of the previous growth guidance, the comments in the release regarding sales outlooks and persistently high customer churn will likely cause slight negative forecast adjustments to our growth expectations.                    Inderes – 9 Jun 26              Admicom laskee kasvuohjeistustaan rakennusmarkkinan heikkouden vuoksi - Inderes    Liikevaihdon kasvuohjeistusta laskettiin rakennusmarkkinan elpymisen viivästyessä.

Admicom

Admicom Oyj | Company release | June 18, 2026 at 14.05 p.m. EETAdmicom Oyj - Managers' Transactions____________________________________________Person subject to the notification requirementName...

Admicom Oyj | Company release | June 18, 2026 at 14.05 p.m. EETAdmicom Oyj - Managers' Transactions____________________________________________Person subject to the notification requirementName: Katariina LähdesniemiPosition: Other senior managerIssuer: Admicom OyjLEI: 743700T7K2K149J4GB17Notification type: INITIAL NOTIFICATIONReference number: 161956/10/6____________________________________________Transaction date: 2026-06-17Outside a trading venueInstrument type: FINANCIAL INSTRUMENT LINKED TO A SHARE OR A DEBT INSTRUMENTName of the instrument: Admicom Oyj:n optio-oikeus 2026ANature of transaction: ACCEPTANCE OF A STOCK OPTION(X) Linked to stock option programme&nbsp;Transaction details(1): Volume: 6000 Unit price: 0 EUR&nbsp;Aggregated transactions (1):Volume: 6000 Volume weighted average price: 0 EUR