The Helsinki Stock Exchange’s main index was down 0.5 percent at two in the afternoon on Friday.
The airline led the decline Finnair, whose share was down 9.9 percent on the results day. Finnair’s second quarter result clearly fell short of analysts’ expectations.
Finnair’s comparable operating result for April–June fell to 43.6 million euros from 66.2 million euros in the comparison period, while the consensus of four analysts collected by Factset predicted 52.0 million euros.
The company’s turnover also fell short of the predicted 776.4 million to 766.1 million euros. In the comparison period, Finnair’s turnover was 749.2 million euros.
The tire manufacturer that announced the result in one of the countries in the afternoon Nokia tires was down 3.3 percent. The company’s net sales in the second quarter came in close to the consensus forecast, but the profit line fell short of expectations.
Retail company Lindex Group was down 1.3 percent after the earnings announcement.
In the second quarter, Lindex Group kept its turnover almost at the level of the comparison period, although the number of visitors to the stores decreased, especially in the Lindex division.
The group made a total of 29.5 million euros in adjusted operating profit, while the result of the comparison period was 31.6 million euros. Following the company Inderes had expected the adjusted operating result to reach 30.2 million euros.
The elevator company weakened its guidelines in connection with the results announcement Kone was down 0.9 percent. Both Kone’s turnover and adjusted profit fell short of expectations. Analysts had also expected a positive earnings warning from the company sooner.
The situation in China’s real estate market has continued to be challenging and contributed to a significant decrease in orders received and turnover of Kone’s new construction solutions in China.
Bank of Åland the price of the more traded B share was down 0.9 percent. The bank’s operating profit increased to 15.6 million euros in the second quarter from 14.2 million euros in the comparison period.
Ålandsbanken’s net interest income remained almost unchanged, falling from 26.3 million euros a year ago to 26.4 million. Other fee income increased to 29.0 million euros from 27.5 million euros in the comparison period.
Satisfied, the investors accepted the accounting firm Talenomin (+6.0%), construction company consist (+5.8%) and mechanical engineering Wärtsilä (+3.9%) results reports.
Capital investment company Lifeline Venturesin piloted by a shell company Lifeline Spac I was up 0.9 percent after the earnings report.
Lifeline Spac announced at the beginning of July that it will merge with the deep technology company that manufactures carbon nanotubes Canatun with. In connection with the results report, the CEO of Lifeline Spac Tuomo Vähäpassi says that the merger will very likely go through at the August general meeting.
“The merger already has the strong support of our shareholders, as the shareholders, who represent approximately 72 percent of all shares, are irrevocably committed to supporting the merger and voting for it,” says Vähäpassi.
On Friday afternoon, the information security company that announced the result yesterday also had a solid rise F-Secure (+6,1 %).
F-Secure’s target price rose after the result Carnegie Groupilla From 2.80 euros to 2.90 euros and SEB Bankilla From 2.20 euros to 2.30 euros. SEB raised its recommendation to a buy level from a hold level, Carnegie repeated the buy recommendation.
Source: www.arvopaperi.fi
