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 CompanyTagList on Company {
  pageUrl
  name
  viewerIsFollowing
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    ...CompanyTagList
    id
  }
  ...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
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      defaultInstrument {
        isin
        id
      }
      id
    }
    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
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    id
    name
    viewerIsFollowing
    defaultInstrument {
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      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
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Rauli Juva

Anora Group is a producer of alcoholic beverages. The product portfolio consists of wine and spirits marketed under various brands. The largest operations are found in the Nordics and the Baltics, and the company's products are exported to retailers in Europe and North America. The company was created through a merger of Altia and Arcus in 2021 and has its headquarters in Helsinki.

Anora Group

We see the internal recruitment as positive in many ways and Puntila as a logical choice for CEO. 

Translation: Original published in Finnish on 3/5/2025 at 7:34 am EET.
Anora announced last night that Kirsi Puntila, who has been the head of the Spirits segment for the past few years, will take over as CEO with immediate effect. Jacek Pastuszka already announced last October that he would step down after just one year in the role&#xa0;<a href="https://www.inderes.se/analyst-comments/anora-another-change-of-ceo">(our comment here</a>), but he stayed on until a new CEO was appointed. We see the internal recruitment as positive in many ways and Puntila as a logical choice for CEO. The appointment is unlikely to bring any significant changes to the company&apos;s strategy.
<h2>Puntila is the most logical and good internal choice</h2>
Kirsi Puntila has been with Anora/Altia since 2014, having previously worked for the Pernod Ricard group. The Spirits segment, which Puntila has led in recent years, is clearly the larger of Anora&apos;s segments in terms of profitability and has performed relatively well in recent years, while the Wine segment has performed poorly. Against this background, we believe that Puntila is a logical and good choice. Thanks to the internal recruitment, Puntila will be able to start in her new role immediately, and the company will no longer have to go through the unpleasant interim phase it has been going through since Pastuszka announced his departure in October. In general, we also think it is good that the company has continuity in the CEO position. Puntila will continue to head the Spirits segment for the time being until a successor is appointed.
The outgoing CEO, Jacek Pastuszka became CEO of Anora in the fall of 2023, replacing Pekka Tennil&#xe4;, who had to leave the company at that time. Pastuszka had a clear mission and goal to improve Anora&apos;s profitability, which had fallen to a very low level. However, this was not successful, and the company&apos;s board chair emphasizes that Puntila will continue the short-term efforts to improve profitability and the balance sheet. As such, we do not expect Puntila&apos;s appointment to bring significant strategic changes, but the company is certainly in need of operational improvements where the new leader may have some new ideas. We will hopefully hear more about this in the context of the Q1 results in May.

	2024	25e	26e
Revenue	692.0	688.0	701.8
growth-%	-4.7 %	-0.6 %	2.0 %
EBIT (adj.)	42.1	43.6	49.3
EBIT-% (adj.)	6.1 %	6.3 %	7.0 %
EPS (adj.)	0.27	0.30	0.39
Dividend	0.22	0.22	0.25
Dividend %	7.9 %	6.3 %	7.1 %
P/E (adj.)	10.44	11.72	9.03
EV/EBITDA	4.85	4.94	4.45

Anora: Kirsi Puntila appointed CEO

Puntila is the most logical and good internal choice

Anora Group

Key Estimate Figures13.02