The last afternoon of the stock exchange week turned red threateningly around two o’clock. In the afternoon, the general index OMXHPI of the Helsinki Stock Exchange was down about 2.0 percent at 9,702.86 points.
In the afternoon, the stock exchange’s most traded company was Nordeawhose share unit price was around 10.4 euros, a decrease of 2.4 percent.
The biggest riser was a fish farmer Fifaxwhose share was up by about 13.8 percent, while the biggest decliner was the technology company Qtwhose share was down 8.0 percent.
Machine shop Valmet said that it has completed the Brazilian pulp industry specializing in wood processing solutions Demuth-company’s acquisition.
According to Valmet, the turnover of Demuth, which owns two factories, is around 20–30 million euros per year and the company employs around 400 people.
Industrial serial combiner Boreo appointed Jesse Petäjän as the company’s new CFO from the beginning of September.
He has led Boreo’s acquisition activities since 2021, served as a member of the group’s management team since 2022, and from the end of 2023 was responsible for acquisitions and the Technical Trade business area by Richard Karlsson with.
Credit losses remained under control
Asset management bank Actian operating income was 76.7 million euros in April–June. In the same period last year, they were 70.3 million euros.
Aktia is monitored by analysts from the analysis house Inderes and the bank OP. Information service Factsetin analysts expected an average of 76.4 million euros in operating income.
Loan loss provisions increased slightly compared to the comparison period of the previous year, but remained moderate, according to the company.
A significant portion of the income comes from net interest income, which rose to 38.8 million euros from 33.8 million euros in the comparison period. The increase from the comparison period was 18 percent.
“Comparable return on equity remained at a good level, at 14.9 percent. The comparable expense-income ratio was 0.57, which is an improvement compared to last year,” commented the CEO Aleksi Lehtonen in connection with the results announcement.
The turnaround is progressing according to plans
A software company QPR Software released its second quarter results on Friday. The company’s turnover fell to 1.5 million euros in April-June from 1.9 million euros in the comparison period last year.
According to the company, the reason behind the decrease in total turnover was the decision to end consulting services outside of the core business in Finland at the end of 2023.
SaaS turnover grew by 15 percent from the comparison period. The company expects SaaS revenue growth to be double-digit and estimates that the entire software revenue will grow in 2024. In addition, the company expects the operating result to improve significantly.
QPR’s operating loss was 0.1 million euros, while the corresponding reading in the comparison period was -0.2 million euros. Inderes anticipates operating losses of EUR 0.1 million.
“The company’s turnaround is progressing according to plans. The market is showing signs of recovery”, comments the CEO Heikki Veijola in the bulletin.
The instructions were kept unchanged
Selling drilling equipment Do fell short of expectations in its semi-annual report published on Friday. The company’s operating result in the second quarter was 0.7 million euros, while Inderes’ analyst forecast was 1.1 million euros. Operating profit increased from the comparison period, when it was zero.
The instructions were kept unchanged. Robit expects turnover and comparable profit before interest and taxes in euro terms to increase from 2023.
“The company prioritizes its growth investments in selected high-potential markets, while securing and strengthening its position in its current strong markets. Accelerating the pace through the distributor network is key to the company’s growth strategy,” comments the CEO Arto Halonen in the half-year report.
Preliminary information about the profitability turnaround
IT service company Solteq gave preliminary information about its second quarter result. Turnover shrank in April–June to EUR 13.4 million from EUR 13.6 million in the comparison period a year ago.
However, the profitability figures improved. Comparable EBITDA improved to 0.6 million euros from -1.3 million euros and comparable operating profit to 0.0 million euros from -2.1 million euros.
“A complete turnaround in profitability has required two years from us, during which we have renewed our business strategy, streamlined our operations and implemented group-wide cost-saving programs”, CEO Aarne Aktan comment.
Solteq will announce its half-year review on August 22 at around 8 a.m.
Source: www.arvopaperi.fi
