HONBSNasdaq HelsinkiResidential ConstructionIFRS · EUR

Honkarakenne Oyj

Honkarakenne Oyj is a Finnish company specializing in the design and manufacture of high-quality, ecological log buildings under the Honka® brand. The company produces single-family homes, holiday homes, and public buildings using massive wood sourced from Finland. With over 90,000 buildings delivered to more than 50 countries, Honkarakenne is a key player in the sustainable construction industry, emphasizing health, ecology, and quality in its offerings. The company's production facilities are located in Karstula, Finland, and it is committed to using 100% renewable energy in its operations.

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Revenue37.2m EUR
+1.4 %y/y
Operating profit (EBIT)-4.0m EUR
−66.7 %y/y
EBIT margin-10.8%
−4.2 ppy/y
Net income-4.1m EUR
−90.6 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-20020406080m EUR2020: 53 m EUR2020: EBIT 3.1 m EUR20202021: 70 m EUR2021: EBIT 3.7 m EUR20212022: 74 m EUR2022: EBIT 4.2 m EUR20222023: 46 m EUR2023: EBIT -0.14 m EUR20232024: 37 m EUR2024: EBIT -2.4 m EUR20242025: 37 m EUR2025: EBIT -4.0 m EUR202537-4.0
RevenueOperating profit (EBIT)
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Business

Share of revenue
Single-family Homes40 %

Includes ecological and sustainable residential buildings.

Holiday Homes30 %

Comprises vacation properties designed for leisure and relaxation.

Public Buildings15 %

Encompasses educational and community structures made from massive wood.

Custom Solutions15 %

Tailored log building designs for specific client needs.

Customers

Honkarakenne serves a diverse customer base, including individual homeowners, developers, and public sector clients. In Finland, the primary market consists of consumers seeking sustainable and ecological living solutions. Internationally, the company targets export markets, particularly in Asia and Europe, where demand for eco-friendly construction is growing. The company's B2B segment is expanding, focusing on project-based sales for larger developments. Honkarakenne's customers value the health benefits, energy efficiency, and aesthetic appeal of log buildings.

Homeowners

Purchase ecological homes for sustainable living.

Developers

Invest in eco-friendly construction projects.

Public Sector

Require durable and ecological public buildings.

International Markets

Seek energy-efficient and sustainable building solutions.

Strategy

Honkarakenne's strategic priorities focus on enhancing customer experience, improving profitability, and expanding international operations. The company is committed to sustainable practices, using renewable energy and eco-friendly materials. Strategic initiatives include developing new product solutions like the Honka Säästö, which enhances energy efficiency. Honkarakenne aims to strengthen its position as a leading exporter of wooden buildings by optimizing processes and expanding its distribution network.

Enhance Customer ExperienceMedium term

To ensure satisfaction and loyalty

Improve ProfitabilityShort term

To sustain business growth

Expand International OperationsLong term

To capture new markets

Geography

Q4/2025

Honkarakenne's operations are primarily based in Finland, with significant export activities in Asia and Europe. The company's manufacturing facilities are located in Karstula, Finland, where it produces all its log building components. The domestic market accounts for the majority of sales, but export markets, particularly in Japan and other Asian countries, are crucial for growth. The company is expanding its presence in Europe, despite economic challenges in regions like Germany.

Finland100 %

Risks

Honkarakenne faces several risks, including economic uncertainty in its domestic market, which may affect consumer demand and construction decisions. The company is also exposed to fluctuations in raw material prices and currency exchange rates, impacting profitability. Regulatory changes in building standards could affect operations, while geopolitical tensions in export markets pose additional challenges. Honkarakenne mitigates these risks through strategic planning and diversification of its market presence.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Economic Uncertainty1Raw Material Price Fluctuations2Currency Exchange Rate Volatility3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Economic UncertaintyImpact: HighLikelihood: High

    Affects consumer demand and construction decisions

  2. Raw Material Price FluctuationsImpact: MediumLikelihood: High

    Impacts cost structure and profitability

  3. Currency Exchange Rate VolatilityImpact: MediumLikelihood: Low

    Affects international sales and profitability

  4. Regulatory ChangesImpact: Medium

    Could affect building standards and operations

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Accounting

Judgemental items
Revenue Recognition

Affects timing of revenue and quarterly results

Inventory Valuation

Impacts cost of goods sold and profitability

Lease Accounting

Influences financial statements under IFRS 16

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Last updated: 24/09/2026