Helsinki Stock Exchange Continues to Fall Despite Friday’s Earnings Reports

Helsinki Stock Exchange Continues to Fall Despite Friday’s Earnings Reports

On the afternoon of Friday, the Helsinki Stock Exchange saw a continuation of its downward trend for the week. The general index indicated a decrease of 0.3 percent, putting it at 9,804.23 points.

Among the most traded stocks, Fortum experienced a decline of 1.0 percent while In this went down by 1.3 percent.

It was yet another busy results day on Friday, with 10 companies announcing their results. By the afternoon, a decrease in share price was observed in nine out of the ten companies that published their earnings.

The industrial service company, Lassila & Tikanoja, found itself at the bottom of the main list. It failed to meet the expectations of three analysts for the second half of the year. The company’s operating profit, adjusted for non-recurring items, amounted to 7.2 million euros, while analysts had anticipated an operating profit of 10.7 million euros.

CEO Eero Hautamäki stated in the release that “In environmental services, the slowdown in general economic activity was reflected in falling waste volumes and the prices of recycled materials throughout the year. The drop in prices and volumes of recycled materials burdened the industry’s turnover and reduced operating profit by 4.5 million euros in 2023.”

L&T’s share experienced a decline of 9.1 percent.

The chemical company, Kemira’s operative EBITDA fell less than expected to 163 million euros from 177 million euros in the comparison period. Analysts were expecting an EBITDA of 147 million euros. The decrease was due to the lower sales prices of energy-intensive pulp and bleaching chemicals.

Kemira’s share showed no movement compared to the previous day.

The trading company, Stockmann’s adjusted operating profit was 30.2 million euros, a rise from the comparison period’s 26.1 million euros. However, Inderes had expected a profit of 32.5 million euros from the company.

CEO Susanne Ehnbåge stated in the announcement that “The reasons for the improved result are the strategic focus, prioritization of the most important initiatives and the team’s commitment to achieving the goals.”

Stockmann’s share went down by 1.4 percent.

The construction company, YIT:n adjusted operating profit was in line with analysts’ expectations of 13 million euros. YIT anticipates that the adjusted operating profit of the group’s continuing operations will be somewhere between 20 and 60 million euros in 2024.

YIT saw a decline of 1.4 percent.

The beverage company, Olvin’s adjusted operating profit increased to 7.8 million euros, a considerable rise from the previous amount of 1.7 million euros.

CEO Patrick Lundell commented in the financial statement bulletin, saying that “In retail, a slight weakening of purchasing power was observed. However, our sales volume increased in the hotel and restaurant channel and border trade. In terms of product groups, we were able to increase sales in the water, soda, kvass and energy drink categories.”

The communication solutions specialist, Bittium’s operating profit fell to 1.0 million euros from 3.0 million in the comparison period.

CEO Johan Westermarck stated in the announcement, “Financial development was affected by product delivery delays in the Medical business at the beginning of the year due to component shortages and the weaker-than-anticipated development of sales outside the US, as well as the slowness of official approvals for medical devices.”

The adjusted operating profit for the fourth quarter of Telestone was -1.4 million euros, while Inderes expected -1.3 million. Teleste now estimates that the company’s turnover this year will be in the range of 140–165 million euros. Furthermore, the company predicts that this year’s adjusted operating result will be between 3 and 6 million euros.

The food company, HKScan’s comparable operating result of continuing operations was 2.8 million euros, a significant improvement from a loss of 0.2 million euros in the previous year. According to Managing director, Juha Ruoholan, there was an improvement especially in Finland, where the turnaround took place in May after a weaker start to the year. Additionally, in Denmark, HKScan achieved the best full-year result in over a decade.

The IT service company, Digian’s ebita operating profit was 5.1 million euros, the same as in October-December 2022.

CEO Timo Levoranta stated in the announcement, “In the last quarter, profitability was affected by a slightly lower than expected turnover and one-time costs of EUR 0.3 million related to internationalization and the development of sustainability reporting.”

In the afternoon, With something also reported about its result. The company’s turnover shrunk in the fourth quarter of the previous year. In October, Enento issued a profit warning and lowered its revenue guidance for the entire year.

According to Enento, the operating environment continues to be challenging and unstable due to uncertainty in the general economic situation in the operating countries. As a result of these circumstances, Enento did not provide precise financial guidance on turnover or profitability.

Enento’s share experienced a decline of 6.2 percent.