Earnings season|HS followed how the reports of listed companies that announced their results on Thursday were received at the Helsinki Stock Exchange.
Thursday is the busiest day of the summer results period of the Helsinki Stock Exchange so far. Fifteen listed companies announce their results.
In this story, HS collects what the initial reactions of investors have been to Thursday’s key earnings announcements on the Helsinki Stock Exchange.
Thursday the most important earnings publisher Nokia said that its profitability has weakened. The company’s net sales decreased by 18 percent and operating profit by 32 percent from last year’s comparison period.
Although the company’s comparable operating profit exceeded analysts’ estimates, the company’s turnover development was weaker than expected.
Investors reacted negatively to the result. The opening price of Nokia’s share was about 4.5 percent lower than Wednesday’s closing price and at its worst was down more than 10 percent.
By the time the stock market closed, the company’s share had fallen by around five percent.
Construction company SRV’s turnover and operating profit grew in the second quarter. The result was mainly driven by public office construction, and residential construction continued to be weak.
SRV’s turnover in April–June was 186.3 million euros, which means an increase of about 30 percent from the comparison period of the previous year. The company’s operating profit rose to a profit of 1.5 million euros from a loss of 3.9 million in the comparison period last year.
For investors, SRV’s result would seem to be worth it. The company’s share price ended up with an increase of about 5.5 percent on the Helsinki Stock Exchange.
Consumer electronics chain Verkkokauppa.com’s result was weighed down by low demand resulting from weak consumer confidence and fierce price competition.
The company’s comparable operating profit fell to a loss of 1.7 million, while a year ago it had risen to a profit of 1.7 million. Turnover decreased by 6.5 percent to 105.5 million euros.
The company’s share price turned downward shortly after the start of trading. The company’s share fell by approximately 2.1 percent.
Media company Alma Media’s financial figures remained stable in the second quarter of the year. The adjusted operating profit was 19.4 million euros, i.e. the same as last year at the same time.
The turnover grew by more than two percent, supported by acquisitions, and was 80.1 million euros. The share of digital business in Alma Media’s total turnover already rose to almost 85 percent.
The company’s share price reacted positively to the earnings announcement. At the end of the stock exchange day, the course was about 4.8 percent higher.
Meat house Atria’s turnover decreased slightly from the comparison period and was a good 454 million euros. The group’s operating profit, on the other hand, increased significantly from the comparison period. The company’s operating profit in April–June was 18.4 million euros, while a year earlier it was 10 million euros.
According to the company, all of its business areas made a better result than the comparison period. In particular, the company’s operating profit exceeded analysts’ expectations.
Investors have also received the result positively. Atria’s share price went up by almost three percent on the Helsinki stock exchange, but the increase then leveled off to around one percent.
Design product company Fiskars’ comparable turnover decreased by 5.3 percent from the comparison period and was just under 253 million euros. The company’s comparable operating profit before interest and taxes (EBIT) fell to 19.2 million euros from 23.4 million euros in the comparison period.
CEO of Fiskars Nathalie Ahlström in the press release, the company’s results are described as “solid in light of the challenging market conditions”. Fiskars estimates that its operating environment will remain challenging and will affect demand in the second half of the year as well.
Fiskars’ share price fell by more than 4.5 percent, but then the rate of decline leveled off. At the end of the day, the share price was down about 1.8 percent.
Telecom company Telia’s turnover grew by 2.3 percent to just under 22.4 billion kroner, or just over 1.9 billion euros. Comparable turnover increased by 1.5 percent.
The turnover of the company’s service business grew by 3.3 percent to 19.4 billion kroner.
Telia’s adjusted EBITDA rose by 6.4 percent to 7.86 billion kroner.
For investors, the company’s result seemed acceptable. The share price rose by around 6.9 percent on the Helsinki Stock Exchange.
Information security company In the second quarter, F-Secure’s turnover grew by 19.6 percent to 36.5 million euros. According to the company, organic growth was 1.9 percent.
The company’s adjusted ebita result, i.e. operating profit before amortization of intangible assets, was 13.2 million euros. In last year’s comparison period, the ebita result was 9.9 million euros.
F-Secure’s result has been good for investors and the company’s share price rose by about 2.7 percent.
The security company F-Secure split into two separate companies last year.
The corporate information security business remained with the already existing company, which was renamed With Secure. The consumer business was separated into a new independent company, whose business name was taken as F-Secure.
Drug dealer Oriola’s turnover increased by 13 percent to just over 439 million euros, and billing by 5.3 percent to just over 952 million euros.
The company’s adjusted operating profit was 5.1 million euros, which is almost 60 percent more than the comparison period’s 3.4 million euros.
Investors received the company’s results with obvious satisfaction, as its share price rose by around 2.6 percent on Thursday.
To shopping centers the concentrated real estate investment company Citycon published its second quarter results already on Wednesday evening, but investors were able to react to the result only after trading started on Thursday.
Citycon’s total net rental income grew by 9.3 percent and comparable net rental income by 5.9 percent from the previous year.
The occupancy rate of Citycon’s business premises rose to 95.2 percent from 94.5 percent the previous year.
After the stock market closed, Citycon’s share was up about four percent.
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