We expect Siili’s Q3 to continue to show a clear y/y decline. However, growth and margin performance should show improvement after a challenging H1. We will look for further signs of customers accelerating their AI adoption, with larger transformations kicking off. Given Siili’s forward-leaning AI strategy, we believe the company should be on the front line to win larger tenders in Finland. Our fair value range is unchanged at EUR 3.5-5.5.

SEB Research

This research has been commissioned by the company. Only for professional investors resident in EEA member states. Reports may not be distributed to the US or other jurisdictions where to do so would be unlawful. Please see the disclaimer tab for any details of investment banking services recently provided by SEB that could be considered relevant to the subject matter of this research.

Läs mer på SEB Research