Bittium Observes Cautious Uptick in Helsinki Market

Bittium Observes Cautious Uptick in Helsinki Market

On Tuesday afternoon, the Helsinki Stock Exchange experienced a slight increase.

The OMXH general index marked a 0.1 percent rise, scoring 9,833.40 points. During this time, technology company Bittium was the highest gainer with a 9.5% increase. Bittium Wireless Oy:n, a subsidiary of Bittium, signed a framework agreement for industrial cooperation related to the procurement of F-35 fighter jets with members of a research and business consortium led by the US company, Lockheed Martin.

The agreement, which is expected to last from 2024 to 2026, is valued at approximately 3.7 million US dollars. The value will be distributed among the consortium member companies in proportion to the amount of work each performs.

Other companies that saw a rise in their shares include Nurminen Logistics and Tecnotree, with an increase of 4.8% and 4.7% respectively. However, there was no specific company news to trigger this rise.

Companies that experienced a decrease in their shares include Sitowise and Pharaoh, with a decrease of 8.4% and 5.1% respectively. These decreases came after the companies announced their results in the morning.

During the afternoon, the most traded stock on the stock exchange was UPM, with a 2.4 percent increase and a value of 30.21 euros.

Nokia’s Agreement with Rakute Mobile

Network equipment company Nokia announced an agreement with Japanese company Rakuten Mobile for the delivery of RAN solutions as the latter expands its 4G network. The financial details of the contract were not disclosed.

Nokia’s shares saw a 0.1 percent increase in the afternoon, bringing its value up to 3.24 euros.

Citycon announced plans to issue a green bond worth EUR 300 million.

The bond, which has a maturity of around five years, is intended to be offered to institutional investors. Citycon Treasury B.V. is expected to issue the bond, with Citycon Oyj acting as the guarantor. Citycon Treasury BV will apply to have the bond listed on the official list of the Irish stock exchange (Euronext Dublin) and traded on the exchange’s regulated market.

Citycon’s shares saw a 1.3 percent increase in the afternoon, bringing its value up to 4.05 euros.

Morning Results

Four companies on the Helsinki Stock Exchange announced their results on Tuesday.

IT service company Siili Solutions reported a turnover of 57.4 million euros for July–December, down from 59.5 million euros in the comparison period. The company’s adjusted ebita result also weakened to 3.7 million euros from 5.4 million euros.

In the afternoon, Siili’s share was up 1.5 percent at 9.36 euros.

Health technology company Nexstim, construction consulting company Sitowise, and customer communication software developer LeadDesk also published their results reports.

Nexstim’s turnover rose to 4.7 million euros in July–December 2023, up from 2.7 million euros in the same period a year ago. The company’s EBITDA was 0.6 million euros in the second half of last year, turning around a loss of 1.2 million euros in the comparison period.

In the afternoon, Nexstim’s share price was up 1.7 percent at 2.44 euros.

Leaddesk’s turnover slightly increased in the last quarter of 2023. The company’s turnover was 7.55 million euros in October–December, slightly up from 7.31 million euros in the same period a year earlier. However, the company’s EBITDA fell to 0.95 million euros in the last quarter, down from 0.96 million euros in the comparison period.

During the afternoon, Leaddesk’s share was up 1.2 percent at 8.18 euros.

In October-December, Sitowise’s net sales fell to 52.8 million euros from 57.6 million euros in the comparison period of the previous year. The company’s adjusted ebita also dropped significantly to 2.4 million euros, down from the 5.3 million euros recorded a year earlier.