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
    id
  }
  tags {
    name
    id
  }
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

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
    }
    ... 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
    }
  }
}


puuilo-oyj-managers-transactions-saarela-4

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

changedAt

Puuilo operates in the retail sector. The company operates and manages several stores and trading locations. The range is broad and includes household and pet products that are resold under its own or other brands. Customers mainly consist of private players around the global market. The largest presence is found in Finland.

Greetings from the Puuilo Annual General Meeting Impressive performance, and old stores are growing their sales nicely. The Virkamies store will close by Midsummer and relocate to Tammisto. The first pilot for the Swedish expansion will take place by Q3/27 at the latest. Logistics would initially be handled from Finland. Last year no floor speeches were given, but this year there were as many as two. Questions were asked regarding the poor experiences Finnish companies have had with international expansion. The CEO responded that Puuilo’s approach is pragmatic; there is no need for rapid expansion into Sweden. By 2030, there could be 10 stores in Sweden and 90 in Finland. If sales go well, the expansion in Sweden can be accelerated.

Puuilo’s concept, even in smaller towns, seems to be that the shelves aren’t overflowing with goods. There is just enough, and trucks deliver more weekly as needed. This way, the value of the store’s basic inventory doesn’t grow excessively high, and costs remain lower. As I understand it, however, the store must get rid of items itself by selling them off, as transfers between stores are not practiced. Each store is its own small part of a network designed to ensure the bottom line shows something other than a loss.

Strong hunch that the Puuilo in Renkomäki will close down. It’s a small store in a cramped corner, right next to Kärkkäinen, Motonet, and Biltema.

I agree. The increase in competitors “forces” Puuilo to increase its number of stores as well. When someone goes to buy a five-euro extension cord or a screwdriver, they often buy it from wherever is easiest, whether it’s a Puuilo or a Motonet store, and a one-euro price difference is not significant. For cheap products that are available everywhere, Puuilo stores likely eat into each other’s sales less than, for example, Motonet’s car spare parts sales. If a car part is needed immediately rather than by ordering, people will travel further to get it; Puuilo might have some similar products too, and when you are making a purchase in the hundreds instead of just a few euros, it no longer matters which side of the Lahti city center the store is located on.

The reasonableness of the number of stores in an area is significantly influenced by factors such as the distribution of purchase sizes—i.e., the proportion of transactions worth a few euros, a few tens, or hundreds—as well as the criticality of the products to the consumer’s needs and their substitutability with alternative items. Fewer people are likely to go on a twenty-minute drive for a purchase of just a few euros if a substitute product is available a five-minute walk away, even at a slightly higher price.

I have discussed sales cannibalization with the company several times as the number of stores increases. The situation is acknowledged, but their view/experience is that this does not affect the return on capital of the opened store or the scalability of sales. Perhaps the reason for the store expansion and the decision to increase their number/pace is that the company has been testing stores in smaller towns over the past few years. Trials have also been conducted by establishing multiple stores within the same (larger) locality. According to management, the profitability of these has not differed from the profitability of other well-performing stores (EBITDA incl. rents ~20 %). The underlying logic is that the lower sales potential of smaller towns is not an obstacle, as store-specific costs are also lower there (e.g., rent and the number of sales staff). In the Helsinki Metropolitan Area, store-specific sales rise to around 10 MEUR or above, meaning higher rent costs are not a disadvantage. However, the topic hasn’t been discussed in videos for a while, so I’ll bring it up for the Q1 interview!

A good and relevant point and topic for discussion. Puuilo is my largest single and even significant holding. So far, the company has delivered exactly what it has promised. The company’s strategy is simple, functional, and effective. Especially that simplicity (and perhaps a certain kind of dullness) is personally heartening. I don’t doubt that cannibalization would be something above 0%, for instance, specifically in the case of Lahti and the distances involved. However, in my view, it is almost impossible to try to estimate the impact of cannibalization in advance, and this impact will be seen in the earnings reports of the coming years. Personally, I don’t believe that the impact on the entire company’s EBIT% would be that drastic (17%->13%), as there are many young stores to counter this, and their sales are only just beginning to grow. Similarly, as the company grows, economies of scale should further improve operational efficiency. So, through this, there may even be room for improvement on that 17% EBIT of recent years. I see other competition, of which there is plenty (Jula, Motonet, Biltema, etc.), as an even bigger threat than cannibalization. I consider Puuilo’s strongest competitive advantage (if such a thing can be clearly stated) to be its low cost structure, and so far, in light of the numbers, Puuilo has been able to compete well in this regard. Every brick-and-mortar store always brings certain fixed costs, and if weakness is observable in the company’s results and figures in the future, I will consider this a particularly worrying sign. It is still worth keeping an eye on this possible cannibalization in addition to other competition. But at the same time, I think this will only become clear in the coming years. I don’t see weakness in the numbers yet, so I’m not ready to sell my Puuilo shares just to be safe. Good point, though, thank you.

Puuilo

PUUILO PLC, STOCK EXCHANGE RELEASE, 12 MAY 2026 at 4.30 p.m.Puuilo Oyj - Managers' Transactions____________________________________________Person subject to the notification requirement Name...

PUUILO PLC, STOCK EXCHANGE RELEASE, 12 MAY 2026 at 4.30 p.m.Puuilo Oyj - Managers' Transactions____________________________________________Person subject to the notification requirement Name: Juha Saarela Position: Chief Executive Officer Issuer: Puuilo Oyj LEI: 743700UJUT6FWHBXPR69 Notification type: INITIAL NOTIFICATION Reference number: 156332/7/7____________________________________________Transaction date: 2026-05-11 Outside a trading venue Instrument type: SHARE ISIN: FI4000507124 Nature of transaction: RECEIPT OF A SHARE-BASED INCENTIVE&nbsp;Transaction details (1): Volume: 7393 Unit price: 0 EURAggregated transactions (1): Volume: 7393 Volume weighted average price: 0 EUR&nbsp; For further information, please contact: Annu von Weymarn, interim CFO, tel. +358 40 749 0271 Email: ir (@)&nbsp;<a href="http://puuilo.fi/">puuilo.fi</a> Images for media use:(<a href="https://www.puuilo.fi/medialle">https://www.puuilo.fi/medialle</a>)