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LapWall: Seeds of growth were sown

LAPWALLResearch2024-03-14 08:53
Antti ViljakainenHead of Research
Discuss
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We included the expected investment decision that LapWall sealed last week for the Pyhäntä unit in our forecasts. We expect it to create value for shareholders as profitable growth but expect the benefits to be clearly visible in the figures only from 2027 onwards. In the shorter term, we believe the stock will be driven by the development of the Finnish construction cycle in particular and the company’s earnings outlook for 2024-2025, which depends on it.

LapWall operates in the building products industry with several factories. The company manufactures wooden wall and ceiling elements in factory conditions for construction companies. The product range includes several standard products that are delivered and installed by the customer. The company's market area is Finland. LapWall was founded in 2011 and its headquarters are located in Pyhäntä, Finland.

Read more on company page

Key Estimate Figures2024-03-14

202324e25e
Revenue41.945.253.8
growth-%-20.2 %7.9 %19.0 %
EBIT (adj.)3.94.76.9
EBIT-% (adj.)9.4 %10.5 %12.8 %
EPS (adj.)0.220.250.36
Dividend0.130.130.15
Dividend %4.2 %2.9 %3.4 %
P/E (adj.)14.217.712.6
EV/EBITDA8.310.98.1

Forum discussions

Here are Tommi’s comments on the Court of Appeal overturning the District Court’s interlocutory judgment, which ordered LapWall to pay nearly...
1 hour ago
by Sijoittaja-alokas
3
Pekkarinen’s comment regarding data center projects from the local newspaper: “We have the products, expertise, production capacity, and a proven...
yesterday
by Delete
15
En ole specialisti, mutta tuottaako logistiikka ongelmia kun rakennetaan jonnekkin muonioon
9/29/2026, 8:22 AM
by Esaesa
0
In theory, the capacity should be more than just those few projects a year, considering how the company markets itself. See the screenshot. ...
9/29/2026, 6:06 AM
by Kroisos Pennonen
14
Erittäin hyvää pohdintaa. Muutama oma kommentti/ajatus. Kreate ym. ovat jo hyötyneet infrarakentamisen kasvusta, asuntorakentaminen on yhä syv...
9/29/2026, 4:17 AM
by Janne
6
Quite a good bull painting. Hopefully, you’re on the right track. Two minor counter-arguments come to mind, written quickly and based on gut...
9/28/2026, 9:09 PM
23
Over the past few days, I’ve been pondering LapWall, which has a small couple of percent stake in my own portfolio. We haven’t heard any announcements...
9/28/2026, 7:44 PM
28