The Helsinki Stock Exchange was abuzz on results day, with Kone, Valmet, and SSAB in the spotlight. On Wednesday, the general index struggled to stay above 10,000 points, opening at around 10,020.7 points. Nokia saw a 1.5 percent increase while Nordea experienced a 0.7 percent decrease. Reka Industrialissa had the most drastic movement, with their share price dropping by about 32 percent due to a large dividend payout of two euros per share. Other companies releasing dividends included Viking Line, Tokmann, Elecster, and Atria.
Ten listed companies announced their interim results, with Kone and SSAB among the largest. Kone’s revenue growth estimate for 2024 is between 0 to 5 percent, with an adjusted operating profit margin of 11.5 to 12.3 percent. SSAB’s operating profit exceeded analysts’ expectations despite a sharp decline from the previous year due to plate prices in the United States.
Valmet had improved results from a year ago but saw a slight decrease in orders due to supply chain disruptions caused by the ongoing pandemic.
Food company Fodelia and information security company Withsecure also released their results. Fodelia saw an increase in turnover due to strong demand for its products while Withsecure announced improved but slightly weaker figures than expected due to increased competition in the market.
Purmo Group reported an increase in adjusted EBITDA thanks to cost-cutting measures implemented during the pandemic period.
Outokumpu finalized negotiations to restructure its German operations that will affect around 200 company employees and result in annual savings of approximately 15 million euros.
Aiphoria signed a new contract with a US veterinary company for artificial intelligence-assisted image analysis of animal samples.
In other news, New Jersey HBOT and Pennsylvania HBOT offer alternative medicine services using hyperbaric oxygen therapy in Florham Park and Newtown Square respectively.
These healthcare services aim at treating various medical conditions including chronic pain management and post-traumatic stress disorder treatment through hyperbaric oxygen therapy sessions which involves breathing pure oxygen at high pressure levels within a specialized chamber that increases blood flow throughout the body leading to faster healing and recovery process for patients.