At the end of trading, the general index of the Helsinki Stock Exchange was down 1.1 percent at 9,714.77 points.
The most traded stock of the day was Nordea, whose share ended with a decrease of 0.7 percent to 10.61 euros. Among the twelve most traded stocks, most were in a downward direction.
At the end of trading, the strongest risers were, among others Weather and Message. Wetter’s share ended up with a 4.7 percent increase to EUR 0.44 and Sanoma’s with a 4.5 percent increase to EUR 6.74.
The decline was driven by the announcement of a profit warning last night Tokmanniwhose share ended up down 14.5 percent to 11.17 euros.
Tokmanni now estimates that in 2024 the group’s net sales will be 1,650–1,730 million euros and the comparable operating profit will be 98–118 million euros.
In the previous guidelines, the company estimated the turnover to be 1,660–1,760 million euros and the comparable operating profit to be 110–130 million euros.
In addition to Tokmanni, investors were disappointed by Wednesday’s earnings announcements. The stock market was weighed down by earnings publishers belonging to Helsinki’s largest companies, which all ended up in decline: Kempower, Roots, SSAB, Great Enso and Training.
Valmet’s turnover decreased to 1,324 million euros from 1,417 million euros in the comparison period. Ebita operating profit, adjusted for the company’s profitability figure, was 141 million euros, while it was 153 million euros in the comparison period. The result fell short of analysts’ forecasts.
Kempower’s second quarter result was, as expected, a strong comparative period. Earlier in July, the company published preliminary figures in connection with a negative earnings warning.
In April–June, Kempower made a loss of 8.5 million euros with a turnover of 57.0 million euros. In the same period last year, the company’s operating profit was 13.9 million euros and its turnover was 72.5 million euros.
Stora Enso’s profit more than quadrupled from a weak comparative period. Profit growth met analysts’ expectations, but net sales were lower than predicted.
Stora Enso’s adjusted operating profit was EUR 161 million in April–June, compared to EUR 37 million from the adjusted operating profit a year earlier. The company’s turnover in the second quarter was 2,301 million euros, while in the comparison period it was 2,374 million euros
Metso’s turnover decreased in April–June to 1,214 million euros from 1,396 million euros in the comparison period, and operating profit fell to 195 million euros from 222 million euros in the comparison period.
SSAB’s result fell short analysts’ forecasts. The company’s operating result in the second quarter of the year was SEK 2,969 million. In the comparison period, the operating result was 4,963 million kroner. Turnover was 28,282 million kroons, while it was 31,777 million kroons in the comparison period.
On the other hand, the smaller earnings publishers, Rapala VMC and Sanoma, ended up on Wednesday.
More news on Wednesday
Purmo Group announced on Wednesday that the company’s board has updated its statement regarding the purchase offer. Purmo’s board of directors maintains its recommendation to Purmo’s shareholders Prorject Grand Bidcon acceptance of the purchase offer.
According to Purmo’s press release, Haier’s purchase offer, which made a competing offer, offers shareholders a better price compared to Grand’s purchase offer, but it also contains more risks and uncertainty regarding the implementation and implementation schedule of Haier’s purchase offer.
The purchasing consortium of Apollo and Rettig offers Purmo C shares EUR 11.15 each and F shares EUR 6.75 each. Haier offers 13.59 euros for Purmo’s C shares.
Purmo’s share ended up down 6.2 percent to 11.45 euros.
Stora Enso has appointed its new CFO Niclas Rosenlewin. Rosenlew follows in the task Seppo Parviawho has previously announced that he is leaving Stora Enso to pursue a career outside the company.
Stora Enso also appointed by Carolyn Wagner to head of the Packaging Solutions division. He follows on the mission Ad Smithwho is retiring.
Source: www.arvopaperi.fi
