On Friday, Helsinki Stock Exchange Market Opens – Earnings Publisher Kamux in a Slump

On Friday, Helsinki Stock Exchange Market Opens – Earnings Publisher Kamux in a Slump

This Friday, the Helsinki Stock Exchange commenced its trading in a downward trajectory.

After some time into trading, the general index of the stock exchange dipped by 0.2 percent, settling at 9817.42 points.

The most actively traded stock of the morning session was Nordea. At the time of review, its share price had increased by 0.6 percent, reaching 11.31 euros. However, the majority of the twelve most traded stocks were moving in a downward direction.

About ten minutes into the trading session, shares of multinational company Asp and electronics contract manufacturer Scanfil were observed to be on an upward trend. Aspo’s shares were up by 1.7 percent at EUR 5.94 and Scanfil’s shares increased by 1.6 percent to EUR 8.18.

The second-hand car dealer, Kamux, which announced its results this morning, along with the elevator company Kone experienced a decline in their share prices. Kamux’s shares fell by 6.4 percent to 4.97 euros and Kone’s by 3.5 percent to 43.64 euros.

Today, Kone’s dividend was released, driving its share price down. Compared to the closing price of 45.22 euros the previous day, the dividend yield is 3.9 percent, or 1.75 euros. It is common for the share price to decline following the release of a dividend.

Construction company SRV and occupational pension insurance company Varma have entered into an agreement to construct 128 apartments in Niittykumpu, Espoo.

The contract, valued at approximately EUR 19 million for SRV, will be recorded in the second quarter of 2024. The construction work is slated to begin in the summer of 2024, with completion expected in early 2026.

After a while of trading, SRV’s shares were up by 0.8 percent at EUR 3.75.

Several companies, including maritime logistics company Meriaura Group, digital services company A projectile, forest machine parts manufacturer Kesla, used car seller Kamux, and machine shop contract manufacturer compound, published their results report in the morning.

Fireplace company Firestone is still expected to release its results in the afternoon.

Kamux’s operating result in the final quarter of the year showed an increase from the previous year, but it did not meet analyst expectations.

Kamux’s operating result for October-December was 4.5 million euros. In the same period in 2022, the operating result was 1.6 million euros.

The consensus forecast by Factsetin, based on data collected from five analysts, anticipated the company to report an operating profit of around 6.0 million euros. The analysts’ forecasts ranged from 6.0 to 6.3 million euros.

The turnover for the last quarter was 241.6 million euros, compared to 222.9 million euros in the same period of the previous year. Analysts had expected it to be around 246 million euros.

Loihti’s result and financial statement report indicated a rather uncertain market situation in the sector.

Loihti reported an operating profit of 1.5 million euros in the final quarter of the year, while the figure for the same period in the previous year was 0.9 million euros. Among analysis houses, Inderes and Evli had expected Loihti to have an operating profit of 2.1 million euros and 0.9 million euros respectively.

In comparison, Loihti’s net sales reached 37.3 million euros in October-December, while the figure for the same period in the previous year was 36.0 million euros. Inderes and Evli had expected it to be EUR 36.9 million and EUR 37.3 million respectively.

At the time of the review, Loihti’s share price was up 3.9 percent at 13.40 euros.

Analysis house Inderes adjusted Boreon‘s target price to EUR 24.00 (from EUR 34.00), maintaining the add recommendation.

Inderes adjusted Rapalan‘s target price to EUR 2.80 (from EUR 3.10), maintaining the reduce recommendation.

Inderes raised Viafin Service‘s target price to EUR 18.00 (from EUR 15.00), and also upgraded the recommendation to buy (previously more).

Inderes adjusted Enersensen‘s target price to EUR 4.40 (from EUR 4.70), maintaining the reduce recommendation.

Inderes adjusted EcoUpin‘s target price to EUR 1.80 (from EUR 2.00), maintaining the reduce recommendation.