Bittium’s Price Skyrocketed in Helsinki

Bittium’s Price Skyrocketed in Helsinki

In the Helsinki Stock Exchange, Tuesday was finally a day of gains. The OMXH general index concluded the day with a 0.7 percent increase, ending at 9,894.42 points.

The most significant gainer of the day was the technology company, Bittium. The company announced in the morning that its subsidiary, Bittium Wireless Oy:n, signed a framework agreement for indirect industrial cooperation related to the procurement of F-35 fighter jets. This agreement was signed by the members of the research and business consortium led by the US-based Lockheed Martin.

This framework agreement is applicable for the years 2024-2026 and its total value is approximately 3.7 million US dollars. This amount is to be distributed among the consortium member companies proportionate to the amount of work performed.

Bittium’s stock price ended the day with a 10.3 percent increase, reaching 4.67 euros.

Other stocks that saw an increase included Stora Enso, which gained 4.9%, and SSAB, which saw a 4.7% increase.

One of the biggest losers of the day was the construction consulting company, Sitowise, which announced its results on Tuesday morning. Sitowise’s shares ended the day down 7.0 percent to 2.65 euros.

The most traded stock of the day was UPM, which ended with a 3.7 percent increase to 30.57 euros.

Helsingin Sanomat starts the change negotiations

Sanoma Media Finland announced that it was planning organizational changes in Helsingin Sanomat and in the B2B business unit.

As part of these changes, there may be a reduction of up to 20 jobs in Helsingin Sanomat and 25 jobs in the B2B business unit.

Sanoma’s share ended the day with a 3.6 percent increase to 6.93 euros.

The network equipment company, Nokia, announced that it has entered a contract with the Japanese company, Rakuten Mobile, for the delivery of RAN solutions as the company expands its 4G network. The value of the contract was not disclosed.

Nokia’s share ended the day up by 0.9 percent to 3.26 euros.

Citycon announced that it plans to issue a green bond worth 300 million euros.

The loan would have a maturity of approximately 5 years and would be offered to institutional investors. The bond would be issued by Citycon Treasury B.V., and Citycon Oyj would act as the guarantor of the loan. Citycon Treasury BV would apply for the bond to be listed on the official list of the Irish stock exchange (Euronext Dublin) and for it to be traded on the exchange’s regulated market.

Citycon’s share ended the day up by 0.4 percent to 4.02 euros.

Today’s results publishers

On Tuesday, Sitowise, an IT service company Hedgehog Solutions, a health technology company specializing in brain stimulation, and customer communication software developer LeadDesk, all published their results.

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

Siili’s turnover in the period from July to December was 57.4 million euros, compared to the 59.5 million euros during the same period in the previous year. Siili’s adjusted ebita result weakened to 3.7 million euros from 5.4 million euros.

Siili’s share ended the day 2.0 percent higher at 9.40 euros.

Nexstim’s turnover rose to 4.7 million euros in July–December 2023. This is a significant increase from the 2.7 million euros reported during the same period in the previous year. Nexstim’s EBITDA was 0.6 million euros in the second half of last year, while it was a loss of 1.2 million euros in the comparison period.

Nexstim’s share price ended the day close to the previous day’s closing level.

Leaddesk’s turnover increased slightly in the last quarter of 2023, reaching 7.55 million euros compared to 7.31 million euros during the same period in the previous year.

Leaddesk’s EBITDA fell to 0.95 million euros in the last quarter from 0.96 million euros in the comparison period.

Leaddesk’s price ended the day with a 0.3 percent increase to 8.10 euros.