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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.)14.217.512.4
EV/EBITDA8.310.88.0

Forum discussions

I thought I would elaborate a bit more on what we mean when we say that LapWall is a product company. For us, productization does not just mean...
8/7/2026, 9:06 AM
by Jarmot Pekkarinen
36
Thanks for the great interview! I especially remember the reflections on the Lapwall 2100 towards the end. In my opinion, this is exactly the...
8/4/2026, 2:03 PM
14
Great growth once again, Jarmo & co! The strength of the order backlog is also great news. Hopefully, the new factory is running well. And on...
8/4/2026, 1:54 PM
by Janne
5
Tommi and @jarmot.pekkarinen discussed, among other things, the company’s Q2 results and outlook Topics: (00:20) What drove growth in Pyhänt...
8/4/2026, 1:26 PM
by Sijoittaja-alokas
9
It is filled lapwall-oyj-puolivuosikatsaus-2026-final.pdf Edit: 1-3/2026 seems to squeeze just marginally more from the smaller net sales (LV...
8/4/2026, 6:03 AM
by Hapzu
13
Of course, the package also includes a great cap! Nearly 600 party-goers have already signed up for the event, so it’s going to be a day worth...
7/28/2026, 10:46 AM
by Sanna Rasanen
22
I have to say, this is a bold move and definitely deserves a huge hat tip to LapWall! I’ve told Jarmo several times that it would be nice to...
7/28/2026, 10:09 AM
by ljkangas
23