Nordea julkaisi päivitetyn Puuilo-analyysinsä. Suositus pysyy PIDÄ-tasolla, Fair value nousee 10,60 euroon (edellinen: 9,70 €).
Key upside risks: A quick recovery in the DIY market in Finland could boost LFL sales growth by more than we expect. Profitability could develop better than we expect if LFL growth remains strong and new store openings are successful.
Key downside risks: The main risks for Puuilo in the medium term relate to the DIY market and consumer behaviour. If the weakened consumer confidence persists, this could have a materially negative impact on Puuilo. The COVID-19 pandemic boosted demand for Puuilo’s products, e.g. home improvement has been favoured by consumers. Following the lifting of pandemic-related restrictions, demand for Puuilo’s products could decline. Increasing competition, also from new foreign players, could hurt Puuilo’s expansion plans. An inability to open new stores could reduce Puuilo’s growth.
