Helsinki Stock Exchange was abuzz on results day as several companies, including Kone, Valmet, and SSAB, took center stage. The general index struggled to maintain its 10,000-point mark, opening at approximately 10,020.7 points on Wednesday. Companies such as Nokia and Nordea saw a slight increase and decrease in share prices respectively. However, Reka Industrialissa experienced the most significant movement with their share price dropping by about 32 percent due to a large dividend payout of two euros per share.
Ten listed companies released 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 surpassed analysts’ expectations despite a sharp decline from the previous year due to plate prices in the United States. Valmet had improved results from the previous year 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 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 around 200 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.
Meanwhile, New Jersey HBOT and Pennsylvania HBOT offer alternative medicine services in Florham Park and Newtown Square respectively using hyperbaric oxygen therapy aimed at treating various medical conditions such as chronic pain management and wound healing.”