Stock Exchange Recap: Varied Performances and Economic Challenges Mark the Week in Helsinki

On Friday afternoon, the Helsinki Stock Exchange extended its decline for the week, with the general index decreasing by 0.3 percent to reach 9,804.23 points.

Among the most traded stocks, Fortum experienced a 1.0 percent decline, while In saw a 1.3 percent decrease.

The day marked another busy results day, with 10 companies releasing their financial reports. Unfortunately, nine out of ten of these companies witnessed a decline in their share prices during the afternoon.

At the bottom of the main list was Lassila & Tikanoja, an industrial service company, which fell short of analysts’ expectations for the fourth quarter of the year. The adjusted operating profit was 7.2 million euros, compared to the anticipated 10.7 million euros. CEO Eero Hautamäki attributed the result to the general economic slowdown impacting waste volumes and recycled material prices throughout the year. L&T’s share experienced a significant drop of 9.1 percent.

Chemical company Kemira’s operative EBITDA fell to 163 million euros from 177 million euros in the comparison period, but it was better than the expected 147 million euros. Lower sales prices of energy-intensive pulp and bleaching chemicals were cited as the reason for the decrease. Kemira’s share remained stable without any movement from the previous day.

Stockmann, a trading company, reported an adjusted operating profit of 30.2 million euros, surpassing the previous year’s 26.1 million euros. Despite the improvement, Stockmann’s share declined by 1.4 percent.

Construction company YIT’s adjusted operating profit met analysts’ expectations at 13 million euros. The company expects the adjusted operating profit of the group’s continuing operations to range between 20 million and 60 million euros in 2024. YIT experienced a 1.4 percent decline in its share price.

Beverage company Olvi reported an increase in adjusted operating profit to 7.8 million euros from 1.7 million euros. Olvi’s share remained unaffected.

Bittium, specializing in communication solutions, witnessed a decline in operating profit to 1.0 million euros from 3.0 million in the comparison period. CEO Johan Westermarck attributed the financial challenges to product delivery delays and weaker-than-anticipated sales outside the US. Bittium’s share experienced a decline.

Teleste, a provider of video and broadband technologies, reported an adjusted operating profit in the fourth quarter of -1.4 million euros, slightly below the expected -1.3 million. Teleste estimates its turnover for the year to be between 140 million and 165 million euros, with an adjusted operating result of 3 million to 6 million euros. Teleste’s share price was impacted, experiencing a decline.

HKScan, a food company, reported a comparable operating result of 2.8 million euros, showing improvement compared to the previous year’s loss of 0.2 million euros. HKScan’s share was not significantly affected.

IT service company Digia reported an ebita operating profit of 5.1 million euros, consistent with the figures from October to December 2022. CEO Timo Levoranta noted that lower-than-expected turnover and one-time costs related to internationalization and sustainability reporting affected profitability. Digia’s share experienced some fluctuations.

Enento, an information services company, reported a decline in turnover in the fourth quarter of the previous year. The company cited a challenging and unstable operating environment due to economic uncertainty in its operating countries. Enento did not provide precise financial guidance on turnover or profitability due to these circumstances, resulting in a 6.2 percent decline in its share price during the afternoon.

The results day reflected varied performances across different sectors, showcasing the complexities and challenges faced by companies in the current economic landscape.

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