olivLaw · European equity research
Rebl Group Oyj REBL.HE
Finland · Nasdaq Helsinki · Vertical: Listed companies from Finland
Rebl Group Oyj is a Finnish group combining print and outdoor visual communication with a digital division. For fiscal 2025 the group reported consolidated revenue of 114,0 million EUR, amid restructuring that reduced staff and tasks.
At the close of 05 Nov 2026, Rebl Group Oyj (REBL.HE) stock was 0.95 EUR (+3.83% on the day), with market capitalisation 11.9 m EUR, dividend yield 1.26%, beta 0.23, 52-week range 0.79–1.18 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 51.2
- neutral
- Bollinger (20, 2)
- 0.81 – 1.05
- in the upper half of the band · %B 0.58 · band width 25.0%
- SMA 50 / 200
- 0.99 / 1.06
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.03 / -0.03
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −3.6% | −0.6% | −2.9 pp | — |
| 3 months | −14.4% | −4.2% | −10.2 pp | — |
| 6 months | −12.8% | +4.3% | −17.2 pp | — |
| Year to date | −4.0% | +7.5% | −11.6 pp | — |
| 1 year | −14.4% | +9.9% | −24.3 pp | −1.2% |
| 3 years | −71.2% | +49.8% | −121.1 pp | +6.8% |
| 5 years | −83.9% | +42.8% | −126.7 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 116.2 m | 114.0 m | 108.4 m |
| Revenue YoY | unavailable | −1.9% | −5.0% |
| Net income | -3.4 m | 7.3 m | -2.8 m |
| Net income YoY | unavailable | unavailable | −137.7% |
| Diluted EPS | -0.27 | 0.59 | -0.22 |
| Diluted EPS YoY | unavailable | unavailable | −137.3% |
| net % | -2.9% | 6.4% | -2.5% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 4.7 m EUR
- Financial debt
- 29.2 m EUR
- Net debt
- 24.5 m EUR
- Equity
- 48.4 m EUR
- Total assets
- 102.1 m EUR
- Debt / equity
- 0.60x
- Current ratio
- 1.54x
- ROE
- -6.1%
- ROA
- -2.7%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 116.2 m | 114.0 m | 108.4 m | esef· 04 Mar 2026verified |
| Operating income | -854.7 k | -1.2 m | -4.0 m | esef· 04 Mar 2026verified |
| Interest expense | 4.6 m | 3.1 m | 2.1 m | esef· 04 Mar 2026verified |
| Pre-tax income | -4.1 m | -3.5 m | -3.3 m | esef· 04 Mar 2026verified |
| Income tax | -397.3 k | -564.2 k | -481.3 k | esef· 04 Mar 2026verified |
| Net income | -3.4 m | 7.3 m | -2.8 m | esef· 04 Mar 2026verified |
| Diluted EPS | -0.27 | 0.59 | -0.22 | esef· 04 Mar 2026verified |
| Dividend per share | 0.00 | 0.00 | 0.01 | esef· 04 Mar 2026derived |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 2.4 m | 4.3 m | 4.7 m | esef· 04 Mar 2026verified |
| Inventories | 5.0 m | 5.4 m | 5.5 m | esef· 04 Mar 2026verified |
| Current assets | 36.1 m | 35.1 m | 37.2 m | esef· 04 Mar 2026verified |
| Property, plant & equipment, net | 43.8 m | 39.2 m | 36.5 m | esef· 04 Mar 2026verified |
| Goodwill | 19.4 m | 19.7 m | 18.4 m | esef· 04 Mar 2026verified |
| Intangibles (excl. goodwill) | 4.7 m | 3.9 m | 4.1 m | esef· 04 Mar 2026verified |
| Total assets | 111.2 m | 104.2 m | 102.1 m | esef· 04 Mar 2026verified |
| Short-term debt | 24.9 m | 22.3 m | 5.7 m | esef· 04 Mar 2026verified |
| Long-term debt | 18.6 m | 15.4 m | 23.5 m | esef· 04 Mar 2026verified |
| Current liabilities | 47.2 m | 38.5 m | 24.1 m | esef· 04 Mar 2026verified |
| Equity | 35.1 m | 42.3 m | 48.4 m | esef· 04 Mar 2026verified |
| Shares outstanding at year end | 12.5 m | 12.4 m | 12.6 m | esef· 04 Mar 2026derived |
Cash flow · EUR
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 33.3% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 11.9 m EUR
Key indicators
Coverage and freshness
Score by group
33% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.16 – 0.22 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)0.16 – 0.22 (Mid 0.19)
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -4.5% | 8 (vs peers) | 31% |
| Net margin · Quality | -2.5% | 15 (vs peers) | 19% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -1.8x | 0 (on a fixed band) | 19% |
| Current ratio · Balance sheet | 1.5x | 62 (on a fixed band) | 13% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 1.3% | 18 (on a fixed band) | 19% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet25/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality11/100 · 2/3 factors with a value
- Returns· partial18/100 · 1/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Rebl Group Oyj (REBL.HE). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 108.4 m EUR in 2025; YoY growth -5.0%; net margin -2.5%; ROE -6.8%.
The estimated value range is 0.16–0.22 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 0.19 EUR, the price of 0.95 EUR leaves a potential of -80.2% (value / price − 1) and a margin of safety of -404.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- ROIC: -4.5%
- Net margin: -2.5%
- Interest coverage: -1.8x
- Shareholder yield (distributions): 1.3%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Listed companies from Finland · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| FORTUM.HEFortum Oyj | 20.8 bn | 27.2 | 8.7% | 15.3% | −14.0% | +32% / +81% |
| ELISA.HEElisa Oyj | 5.6 bn | 16.3 | 27.0% | 15.2% | +3.0% | −8% / −15% |
| KALMAR.HEKalmar Oyj | 2.4 bn | 14.7 | 24.1% | 9.4% | +1.2% | +0% / unavailable |
| KCR.HEKonecranes Oyj | 2.2 bn | 5.6 | 20.3% | 9.5% | −0.9% | −4% / +134% |
| EXEL.HEExel Composites Oyj | 1.8 bn | — | -18.5% | -5.3% | +3.6% | +163% / +74% |
| BITTI.HEBittium Oyj | 1.2 bn | 55.8 | 17.5% | 17.9% | +40.1% | +73% / +603% |
| ALMA.HEAlma Media Oyj | 1.2 bn | 21.2 | 23.0% | 16.9% | +4.6% | +9% / +57% |
| FIA1S.HEFinnair Oyj | 927.4 m | 50.4 | 2.9% | 0.6% | +1.9% | +54% / +22% |
| GRK.HEGRK Infra Oyj | 788.5 m | 18.3 | 27.8% | 4.9% | +19.7% | +52% / unavailable |
| HARVIA.HEHarvia Oyj | 768.7 m | 29.3 | 21.0% | 13.3% | +13.5% | −1% / +64% |
| ATRAV.HEAtria Oyj | 451.7 m | 11.1 | 9.8% | 2.2% | +3.3% | +13% / +57% |
| ANORA.HEAnora Group Oyj | 317.6 m | 57.8 | 1.4% | 0.8% | −4.9% | +26% / +11% |
| CAPMAN.HECapMan Oyj | 300.2 m | 23.1 | 6.8% | 20.9% | +9.4% | −8% / −20% |
| ICP1V.HEIncap Oyj | 261.0 m | 18.7 | 10.4% | 6.5% | −6.7% | −3% / +37% |
| FSECURE.HEF-Secure Oyj | 243.7 m | 10.9 | 43.4% | 15.3% | −0.4% | −17% / −23% |
| ASPO.HEAspo Oyj | 219.4 m | 9.3 | 15.4% | 5.0% | +2.1% | +2% / +9% |
| ETTE.HEEtteplan Oyj | 173.7 m | 16.4 | 8.8% | 2.9% | +0.1% | −27% / −51% |
| DIGIA.HEDigia Oyj | 131.6 m | 10.5 | 14.5% | 5.9% | +5.5% | −16% / −12% |
| ILKKA.HEIlkka Oyj | 93.8 m | 8.1 | 6.2% | 30.8% | +22.6% | +0% / +21% |
| CONSTI.HEConsti Oyj | 77.4 m | 11.6 | 15.3% | 2.0% | +2.9% | −8% / −6% |
| APETIT.HEApetit Oyj | 75.6 m | 8.4 | 8.2% | 5.4% | +3.1% | −14% / −3% |
| ESENSE.HEEnersense International Oyj | 74.9 m | 74.7 | 3.1% | 0.4% | −27.7% | +12% / +9% |
| CTH1V.HEComponenta Oyj | 66.1 m | 324.0 | 0.8% | 0.2% | −4.6% | +49% / +182% |
| KAMUX.HEKamux Oyj | 47.4 m | 10.3 | 4.2% | 0.5% | +0.8% | −40% / −77% |
| GLA1V.HEGlaston Oyj Abp | 42.1 m | 35.4 | 1.8% | 0.6% | −4.2% | −12% / −32% |
1- and 3-year price returns: for REBL.HE from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Rebl Group Oyj is a Finnish group combining print and outdoor visual communication with a digital division. For fiscal 2025 the group reported consolidated revenue of 114,0 million EUR 1, amid restructuring that reduced staff and tasks 1.
SWOT
Strengths
Weaknesses
- Total revenue is relatively modest, making the group sensitive to losing a few large clients.
- Some energy and transport data are estimates rather than measurements, limiting reporting precision 1.
- Staff reductions in 2025 may be hard to offset quickly in operations.
Opportunities
- Expanding the digital offer could complement print in the visual advertising market 1.
- Certification and sustainability could become selection criteria for corporate clients.
- Process optimisation after the reorganisation could reduce operating costs.
Threats
- A decline in demand for traditional print could reduce volumes in the core segment.
- Energy and logistics costs could rise and compress margins.
- Competition from digital platforms could draw advertising budgets away.
Risks
- Dependence on printhigh
Most revenue comes from print and visibility, which exposes the group to a decline in that market.
- Effects of restructuringmedium
Staff and task reductions in 2025 could affect service quality and employee morale 1.
- Energy costsmedium
Rising energy prices could pressure margins in the print business.
- Precision of sustainability datalow
Estimates for energy and transport could lead to later corrections in reporting 1.
- Digital competitionmedium
Digital platforms could capture part of clients' advertising budgets.
Investment thesis
What would need to be true (bull case)
- If the digital division and LED panels grow, the group could diversify revenue away from print.
- The 2025 reorganisation could lower costs and improve margins over the medium term.
- Use of certified paper could be a commercial advantage with clients focused on sustainability.
What would break the thesis
- If demand for print declines, the group's revenue could be significantly affected.
- Staff reductions could affect the group's ability to deliver to clients on time.
- Energy and transport costs could stay high and limit profitability.
What to watch
- Trend in consolidated revenue and the digital segmentnext 10-K
- Effects of the reorganisation on operating costs2027
- Progress on sustainability indicators and estimated data2027
- Demand dynamics for print and LED panelsnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Rebl Group Oyj operates in two main value chains, digital and print and visual advertising, according to the group's sustainability report 1. Consolidated revenue for fiscal 2025 was 114,0 million EUR 1. The report also notes a reduction in workload and roles during 2025 1.
The print and visibility business includes printed materials, LED panels and screens, and the report states that certified paper makes up most of the paper used 1. Printed materials are therefore a core part of the group's business model 1.
The digital division is treated as a separate unit in the sustainability reporting 1. The group aims to gradually reduce its impact by measuring emissions across scopes 1, 2 and 3 1.
Segments
Print and visibility
The print and visibility segment generated most of the revenue, with total segment revenue of 88,3 million EUR before intra-group eliminations in fiscal 2025 1.
Market context
The Finnish print and outdoor advertising market is mature, and the group's revenue is dominated by print services 1. Consolidated revenue of 114,0 million EUR in 2025 reflects a modest scale 1.
Demand for digital services and LED panels depends on clients' advertising budgets, an aspect not quantified in the analysed report 1.
Trends
- Restructuring and staff reductionmixed
The group went through several changes in 2025 that led to reduced tasks and workforce 1. This could affect costs and operational continuity 1.
- Paper certificationtailwind
Most paper used in printing is certified, which could support demand from clients concerned with sustainability 1.
- Energy and transport costsheadwind
The sustainability report shows that energy and transport are estimated from partial data, which limits the precision of costs and emissions 1.
- Digitalisation of visual communicationmixed
Growth in LED panels and digital advertising solutions could shift demand from print towards digital formats 1.
Competitive position
The analysed report does not identify direct competitors of the group 1. The Finnish print and advertising market is fragmented, and competition comes from local printers and agencies.
The group's differentiation could come from combining print, LED panels and digital services, if this combination is maintained 1.
- Local Finnish printers
Regional competitors in print and advertising materials, unrelated to the US market.
- Outdoor advertising agencies
Competitors for clients' visual communication budgets.
- Digital advertising solution providers
Competitors in the digital division, with different delivery models.
- LED screen manufacturers
Equipment suppliers that could compete in digital visibility.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202504 Mar 2026
- Annual report 202504 Mar 2026
- Annual report 202404 Mar 2025
- Annual report 202304 Mar 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Rebl Group Oyj · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.