Tokmanni Continues to Strengthen as Turnover Targets Increase Amid Rising Withsecure

On Tuesday afternoon, the stock exchange observed a slight dip in the general index by 0.3 percent, bringing it to about 9,751 points.

Among the stocks that saw significant trading, the top three all experienced considerable drops. The most dramatic change was seen in Kemira, which plummeted by 3.9 percent. The trading for this stock amounted to 133 million euros. Prior to the opening of the stock exchanges, state-limited company Solidium revealed it had sold its five percent stake in the company for EUR 16.00 per share. This announcement came after the close of the stock market on the previous day, Monday, when Kemira’s closing price was EUR 17.00 per share.

The second most traded stocks belong to asset managers and life insurance company Command , which suffered a 5.0 percent decrease. The company had recently released its October-December results, revealing a pre-tax profit of 46.3 million euros. This figure shows a decline from the same period in the previous year which had a profit of 62.6 million euros.

Analysts from the house Inderes had expected a pre-tax profit of approximately EUR 61 million for the last quarter.

The third most traded stock belongs to pharmaceutical company Orion. However, unlike Kemira and Command, Orion saw an improvement in its results in the October-September period compared to the same period a year ago.

Orion’s operating profit climbed to 92.9 million euros from 40.7 million euros in the comparison period. Analysts from the Vara Research database had forecasted the operating profit to rise to an average of 72.9 million euros.

A contributing factor to the improvement in results was an installment of EUR 30.7 million related to the transfer of the insurance portfolio of Orion Pension Foundation’s B section.

Despite this, Orion’s share dropped by 7.6 percent.

On a positive note, cybersecurity company Withsecure lead the stock market’s rise, as its share price strengthened by over 12 percent after the company announced its fourth quarter results and financial statements for the previous year.

Withsecure’s adjusted EBITDA for the last quarter was 0.2 million euros, a significant improvement from a loss of 6.0 million euros in the comparison period of 2022. Analysts had predicted that the adjusted EBITDA would be a loss of 0.1 million euros.

More Results Announcements

Other companies that announced results included Orion, Raisio and Purmo Group.

Food company Raisio’s results and turnover for October-December fell as expected. The company anticipates that the comparable operating result for the upcoming year will match or slightly exceed that of 2023.

Raisio’s V-series share saw a slight increase of 0.9 percent at the time of review.

Purmo Group, a manufacturer of heating and cooling systems, experienced an expected fall in turnover, yet an increase in operating margin. The company’s stock price fell by around 0.3 percent.

Discount company Tokmanni announced during its capital market day that it will raise its turnover target from 1.5 billion to 1.8 billion euros. The target for comparable operating profit remains at 150 million euros.

Tokmanni’s share price rose by 8.3 percent shortly after the announcement.