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
  ... 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
    }
    ... 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

Analyst

Roni Peuranheimo

Tecnotree operates in the IT sector. The company specializes in the development of digital communication solutions. The services include, for example, business process services and subscription management for corporate customers in telecom and other digital service providers. Operations are held on a global level, with the largest presence in Asia, Africa and the Middle East.

I haven’t felt like having curry for lunch this week. Unfortunately, cash flow has been weak for us retail investors in recent years, but that allowed the consortium to secure a lower tender offer price from the external evaluator. You really have to appreciate that the same pattern continued in Tuesday’s announcements: first the tender offer, followed by a positive profit warning. Kyösti traded convertible bonds with insiders before, and that too conveniently coincided with the turn of the month, so it took a while for the changes to show up on the shareholder list. It’s possible that over time, Kyösti might negotiate a deal that isn’t quite as fruitful for the retail investor. Earnings season has kicked off, and the “dividend spring” is about to start shining. It may well be that time now has value here, and it’s possible to get returns from somewhere else rather than waiting and speculating on a hike in the tender offer or how Tecnotree “cooks its soup” until the end of March or beyond.

Kakkonen is down about 5 million euros if the offered price is realized (if I calculated correctly). The offer would then have to double for him to break even. He is known for not exactly wanting to take a hit. One can thus speculate that…. the offer is unlikely to double, so things will likely continue under the leadership of the new consortium and the focus will be placed on emerging markets. Perhaps a small increase to squeeze out retail investors. This new consortium was partly forced to make a voluntary offer because the 30% flagging threshold would have been met in June when the convertible bond (vvk) matures. Since Helios was wanted on board for development. Now the terms can be better controlled. Helios presumably compensates Padma and Fitzroy handsomely to gain voting power in the new investment company. 20 million in new capital for Tecnotree and an investment program launched with a new management team and board. In the view of the consortium and perhaps other major shareholders, Tecnotree’s value is measured in the eyes of competitors etc. as a strong player in emerging markets, and not in the eyes of Hesuli (Helsinki) retail investors through cash flow. And since trust is slow to rebuild, the already fairly old Chairman and CEO will step down of their own accord.

Receipt of stock reward. I don’t know the reason why, but for example, the CFO received a reward of “only” 2,972 shares on the same day.                   Inderes              Tecnotree Corporation - Johdon liiketoimet - Inderes    Tecnotree Oyj Pörssitiedote 22.12.2025 klo 19.00Ilmoitusvelvollinen Nimi: Prianca Ravichander Asema: Muu ylin johto Liikkeeseenlaskija: Tecnotree Corporation LEI: 743700MRPVYI7ASHCX38 Ilmoituksen...                             Transaction date: 2025-12-19 Venue not applicable Instrument type: SHARE ISIN: FI4000570890 Nature of the transaction: RECEIPT OF SHARE-BASED REWARD Detailed information on transactions (1): Volume: 23557 Unit price: 0 EUR Aggregated transaction information (1): Volume: 23557 Average price: 0 EUR

Person: Ravichander Prianca Kanakambal   Amount: 52,661 shares (+23,557)   Date: December 2025   Questions arise:   Has this person’s relationship to the CEO been confirmed? (At least on Instagram, there is a photo of the CEO)   How is a transaction by a closely associated person about a month before a tender offer assessed from a legal perspective (EU Market Abuse Regulation (MAR) / Finnish insider regulations)?   Is it normal for family members or closely associated persons to be able to buy shares at such a time before an announcement?   Can such a transaction affect the market or investor confidence during the offer process?   Does anyone have information on how the Financial Supervisory Authority (FIN-FSA) usually views such situations?   I would be interested to hear other people’s opinions and experiences regarding insider trading before tender offers.

I wonder when the market will start speculating that the price will rise even further? Indians have a habit of haggling.

I did the same. Though I have been a shareholder many times, moving in and out of the position. This time the buys were well-timed, so I made some pretty good profits. But I’d rather take a sure profit than wait until the tense end.

I decided to sell off my entire TT holding. In my opinion, waiting for a bid increase is a double-or-nothing situation. The offer could rise to the €8-10 range IMO. It’s also possible that it won’t rise, in which case the diluted share value would be €2.5 at the current price. Realized a major loss. From being up 150% at best to -50% in realized losses. A lot has been learned, the essence of which is: Talk is cheap, follow the money.

Tecnotree

Tecnotree has continued to grow strongly in recent years, but the company has been unable to convert its EBIT into cash flow due to working capital tie-ups, foreign exchange losses and large investments in product development. The company's internal focus is currently on improving cash flow, but there is no evidence of this yet. 

<p>Tecnotree has continued to grow strongly in recent years, but the company has been unable to convert its EBIT into cash flow due to working capital tie-ups, foreign exchange losses and large investments in product development. The company's internal focus is currently on improving cash flow, but there is no evidence of this yet. The valuation would be attractive if the company's cash flow approached the company's profit level. However, we do not expect an immediate improvement here and with the current cash flow profile we do not see the risk/reward ratio as attractive.</p>

	2023	24e	25e
Revenue	78.4	82.3	86.2
growth-%	9.5 %	5.0 %	4.7 %
EBIT (adj.)	23.8	27.2	26.4
EBIT-% (adj.)	30.4 %	33.0 %	30.6 %
EPS (adj.)	0.71	0.96	1.07
Dividend	0.01	0.02	0.02
Dividend %	0.2 %	0.4 %	0.4 %
P/E (adj.)	9.6	5.8	5.3
EV/EBITDA	4.1	2.7	2.1

Cash flow still needs to be proven

Key Estimate Figures2024-05-10

Forum discussions