The Helsinki Stock Exchange’s OMXH general index ended up 1.0 percent to 9,848.11 points on Friday.
On Friday, there were four earnings announcements, when the construction company YITa crane manufacturer Konecranesan electronics contract manufacturer unable and a mining company Sotkamo Silver told about their figures.
In the strongest rise, they were at the top of the most traded In this and Konecranes.
The most traded Neste rose 4.9 percent to 19.01 euros.
Crane manufacturer Konecranes the profit situation improved even more in the second quarter. The profit improvement was expected, as the company issued a positive profit warning for this year in June.
Konecranes’ share reached records and rose 14.2 percent to EUR 60.00 as the stock market’s biggest advancer. The highest quote was 60.50 euros. The company’s market value is around five billion euros.
“Although customer decision-making takes a little longer in larger industrial projects, our sales prospects are still good and we are constantly receiving new requests for offers,” describes the CEO Anders Svensson in the results review.
Report regarding turnover and profit Inderes analyst Erkki Vesola characterized as “very strong”.
“The only beauty flaw was that the orders for Industrial equipment and at the same time the entire group fell somewhat short of expectations.”
According to the analyst, the operating profit margin was record strong and clearly better than expected in all segments.
“In addition to volume growth, the company explained this with successful pricing and good implementation of the strategy.”
Carnegie raised the target price of the Konecranes share from EUR 70 to EUR 75.
The average of the target prices is 61.60 euros.
A mining company Sotkamo Silverin silver production in the second quarter fell and fell short of expectations.
The rate dropped by a good 36 percent to 0.09 euros.
“During the end of the year, as mining reliability improves and new quarries open, we expect production volumes to return to the previous good level. For the whole year, we still expect to be in line with our guidelines, but the realization of the guidelines requires that the silver content and mining volumes rise as planned in the second half of the year”, CEO Mikko Naked evaluate.
Construction company YIT’s operating profit adjusted for non-recurring items fell in the second half of the year and met analyst expectations. The order backlog shrank slightly.
“In Finland, the worst slowdown of the market is behind us, and we are starting to approach the end of the cycle. The supply of new apartments on the market is significantly decreasing, and thus the peak of the number of unsold completed new apartments in Finland is behind us. However, the Finnish housing market is not expected to significantly improve in 2024”, CEO Heikki Vuorenmaa evaluates in the announcement.
YIT decreased by one percent.
The adjusted operating profit of electronics contract manufacturer Incap fell almost as expected. Turnover increased in April-June. The increase in turnover came mainly from Incap India compared to the first quarter of the year. A business transaction in the United States also had a positive effect on turnover.
“We expect the turnover to continue to grow quarterly during the year. With the increase in turnover, we also expect our profitability to improve”, CEO Otto Puck comment.
Incap raised its guidance earlier in July and now expects that the net sales in 2024 will be higher than in 2023 and the operating profit will be at the same level as in 2023.
Incap’s share fell by 7.5 percent to 11.29 euros.
Source: www.arvopaperi.fi
