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
    }
  }
}


orthex-growth-efforts-will-eventually-bear-fruit

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Thomas Westerholm

Orthex is a Finnish manufacturer and supplier of household products. The company offers products such as plastic storage boxes, cutting boards, pots, bowls and other kitchen accessories. The majority of the range is accessed digitally via the company's e-commerce platform, and the products are also offered through licensed retailers. The largest operations are found in the Nordic market.

Muoviteollisuus ry – 27 Mar 26              ​​Lähi-idän kriisi uhkaa muovituotteiden toimitusvarmuutta: vaikutukset...    Lähi-idän kriisi on johtanut poikkeuksellisen voimakkaaseen ja äkilliseen muoviraaka-aineiden hintojen nousuun, joka heijastuu jo suoraan suomalaisiin muovituotevalmistajiin. Nopea kustannusten kasvu ja raaka-aineiden heikentynyt saatavuus...                             Rosenlew is on the Board of Directors of the Association.

Kauppalehti had indeed received comments from a few stock exchange directors, and Alexander from Orthex was one of them: Alexander Rosenlew, Orthex 1. What are your thoughts on the current global situation?   The global situation is exceptionally uncertain, and geopolitical tensions and the energy crisis inevitably reflect on the operating environment of companies. For us at Orthex, this means ensuring supply security, cost-efficiency, and responsibility in a situation where the prices of energy, logistics, and raw materials fluctuate rapidly. 2. How has the war in Iran affected your company’s operations, and how are you preparing for the war’s effects in the near future? The increase in the prices of plastic raw materials has been exceptionally rapid, and availability challenging due to energy markets, logistics, and geopolitical uncertainty. Cost pressure and availability challenges affect the entire industry. In the short term, the rise in raw material prices creates pressure on profitability, and price increases are part of the overall strategy we use to manage the suddenly changed market situation. Our goal is to secure raw material availability even in this rapidly changing operating environment. We have several suppliers and established procurement relationships, which we use to ensure the availability of raw materials. So far, we have managed to adapt quickly to changing conditions and have been able to deliver products to our customers normally. If the current situation continues for a long time, challenges and pressures are expected to increase further.                   Tärkeimmät talousuutiset | Kauppalehti – 26 Mar 26              Hinnat nousevat, talouskasvu hiipuu – Pörssin pomoilta karu viesti Iranin...    Mitä Iranin sota muutti ja mitä siitä seuraa Helsingin pörssin yhtiöille? Metson, Nesteen, Orthexin, Kemiran ja Lumo Kotien toimitusjohtajat kertovat Kauppalehdelle.

I said the stock would be cheaper in six months. There will certainly still be money left then. I don’t expect a share issue yet, but only when the cash has been wasted on buybacks and canceling shares or distributed to stakeholders. When looking at the share price curve over a longer period, the trend looks quite bearish, as if making a profit is difficult for the company.

You eagerly interpreted my comment to mean that I think the company should buy its own shares NOW, even though I said above that the prices of plastic raw materials have not yet reacted much to the development of oil prices and that the company could take advantage of situations where the market punishes the company for weakened profitability. In the 2022 inflation shock, Orthex made a loss-making operating result in the seasonally weak Q2, but otherwise survived it completely unscathed. Since then, the company’s balance sheet position has only strengthened, which increases resilience. I’d be happy to hear what kind of future scenario you expect when you’re already talking about running out of money in six months and the need for a new share issue?

Another absurd comment. Why on earth would they burn the owners’/company’s wealth on buying back their own shares now? They could get those shares cheaper in six months if things don’t work out, and when they run out of money, the purchased and canceled shares will have to be “sold” again to shareholders when money is raised through a new share issue.

From a purely news flow perspective, I also wondered about the stock’s relief rally yesterday, as inflation risks related to the Middle East are still present in the business environment. If one puts on a bullish hat and looks for a silver lining, Orthex’s balance sheet is in stronger condition than its international competitors, so the company should be more resilient against a new wave of inflation, and new shelf space or interesting acquisition opportunities may arise. Orthex also utilizes a lot of recycled and bio-based raw materials in the industry context (18% by 2025), which may mitigate the impact of an oil price spike on the company compared to the rest of the industry. Perhaps as a third point, I would also highlight that at this stage, the elevated oil price has not yet significantly increased the spot prices of plastic raw materials, but pressure is constantly growing as the war drags on. Despite these silver linings, the elevated oil price will in any case have a negative impact on Orthex’s outlook and will also cause upward pressure on the price of plastic raw materials. So, while silver linings can certainly be found, and competitors can be assumed to suffer more than Orthex, the company will ultimately also be among those suffering. What I, as an analyst, would hope for from Orthex, given their stable demand but somewhat cyclical profitability due to raw material price fluctuations, is that the company would react to market overreactions/short-sightedness by buying back its own shares. This way, the company could benefit from situations where the market temporarily punishes it for weakened profitability.

Orthex has been relatively strong compared to the market (share price development) recently, even though Orthex has a direct link to oil prices. Can anyone say if there’s a silver lining for Orthex here? Are competitors suffering more or something else? Thanks especially to @Thomas_Westerholm if you have the energy to comment a bit.

Orthex

The revenue of Orthex, a manufacturer of everyday consumer goods, returned to clear growth in Q4, setting the stage for further earnings growth. In our view, the company's production facilities are capable of supporting a much higher revenue load than today, which means that revenue growth has the potential to increase the already high returns on capital.

<p>The revenue of Orthex, a manufacturer of everyday consumer goods, returned to clear growth in Q4, setting the stage for further earnings growth. In our view, the company's production facilities are capable of supporting a much higher revenue load than today, which means that revenue growth has the potential to increase the already high returns on capital. </p> 

	2023	24e	25e
Revenue	85.9	90.8	96.6
growth-%	2.2 %	5.6 %	6.4 %
EBIT (adj.)	10.0	12.3	13.5
EBIT-% (adj.)	11.7 %	13.6 %	14.0 %
EPS (adj.)	0.35	0.47	0.53
Dividend	0.21	0.25	0.27
Dividend %	3.9 %	5.5 %	5.9 %
P/E (adj.)	15.5	9.7	8.6
EV/EBITDA	7.9	5.9	5.2

Orthex: Growth efforts will eventually bear fruit

Key Estimate Figures2024-04-21

Forum discussions