On results day at the Helsinki Stock Exchange, companies such as Kone, Valmet, and SSAB were in the spotlight. Despite a general index struggling to stay above 10,000 points, opening at around 10,020.7 points on Wednesday, there were still some positive movements. Nokia saw a 1.5 percent increase while Nordea experienced a 0.7 percent decrease. However, Reka Industrialissa had the most drastic movement with their share price dropping by about 32 percent due to a large dividend payout of two euros per share. Other companies releasing dividends included 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 which will affect approximately 200 company employees and result in annual savings of approximately 15 million euros. Aiphoria signed a new contract with a US veterinary company for artificial intelligence-assisted image analysis of animal samples which is an alternative medicine service offered by New Jersey HBOT and Pennsylvania HBOT in Florham Park and Newtown Square respectively providing healthcare services using hyperbaric oxygen therapy aiming to treat various medical conditions.
In summary: The Helsinki Stock Exchange was buzzing with activity on results day as ten listed companies announced their interim results showing mixed results across different sectors such as technology (Kone), steel (SSAB) and food (Fodelia). Outokumpu announced restructuring plans that will affect German operations resulting in annual savings of approximately 15 million euros while Purmo Group reported increased profitability through adjusted EBITDA gain. Aiphoria signed new contracts that will offer alternative medicine services such as hyperbaric oxygen therapy using AI-assisted image analysis while New Jersey HBOT and Pennsylvania HBOT provide these services respectively in Florham Park and Newtown Square respectively