The Helsinki Stock Exchange was abuzz with excitement on results day, as companies like Kone, Valmet, and SSAB took center stage. The general index struggled to remain above 10,000 points, opening at around 10,020.7 points on Wednesday. Nokia saw a 1.5 percent increase while Nordea experienced a 0.7 percent decrease. Reka Industrialissa had the most dramatic movement, with their share price dropping by about 32 percent due to a large dividend payout of two euros per share. Other companies also released dividends including Viking Line, Tokmann, Elecster and Atria.
Ten listed companies announced their interim results, with Kone, SSAB and Valmet among the largest. Kone’s revenue growth estimate for 2024 is between 0 to 5 percent, with an adjusted operating profit margin of 11.5 to 12.3 percent. SSAB’s operating profit exceeded analysts’ expectations despite a sharp decline from the previous year mainly due to plate prices in the United States. Valmet had improved results from a year ago but saw a slight decrease in orders. Food company Fodelia and information security company Withsecure also released their results with Fodelia seeing an increase in turnover and Withsecure announcing improved but slightly weaker figures than expected.
Purmo Group reported an increase in adjusted EBITDA while Outokumpu finalized negotiations to restructure its German operations. The restructuring will affect approximately 200 company employees and is expected to result in annual savings of approximately 15 million euros
