STOCK EXCHANGE: The Helsinki Stock Exchange missed out on a Christmas rally – Dovre Group’s shares plunged as a result warning

At the end of Monday, the general index of the Helsinki Stock Exchange was at 9,326.85 points, i.e. almost at the closing readings of last Friday.

Both the stock exchange’s general index and the yield index that takes dividends into account are ending the year in a downward direction. During the Christmas week, the Helsinki Stock Exchange is closed from Tuesday to Thursday.

At the top of the most traded shares was the bank Nordeawhose share was up 0.5 percent.

A software company Vincitin the share was down 6.1 percent.

On December 12, the company was targeted by a cyber attack. The perpetrators of the attack also gained access to customer companies through Vincit. At least Champion has said that he was the victim of an attack.

An ugly end-of-year warning from Dovre

Consulting company Dovre Group issued a negative result warning.

The turnover of the company’s remaining businesses in 2024 is expected to be between 88 and 93 million euros, and the operating result (EBIT) is expected to be between -13 and -15 million euros. The previous EBIT guidance was between -5 and -6 million euros.

On 20 November 2024, Dovre announced the sale of its Project Personnel business (PP) and Norwegian Consulting business to the Swedish NYAB AB. The turnover of Dovre Group’s remaining businesses in 2024 was estimated to be between 88-93 million euros. The company still kept the turnover guidelines unchanged.

The reason for the decreased guidance is the weakened profitability in some of the projects of the Suvic sub-group of the Renewable Energy segment. Dovre Group owns 51 percent of Suvic.

“Despite enhanced management and operational efforts, some of the work is in progress at the start of winter, which increases costs and slows down the progress of projects. The forecast includes estimated losses until the completion of these projects, and the costs around 2025 are associated with uncertainty,” the company says in a press release.

The company’s stock was down 29.4 percent on Monday.

Afarak’s share is upbeat

Metal industry company Afrakin the board outlined the company’s dividend policy.

The company distributes to its shareholders as a dividend or return of capital the funds determined by the board that exceed the company’s operating and development needs. The target dividend payout ratio for each fiscal year is at least ten percent of the entire year’s EBITDA.

Afarak’s share was up by a hefty 18.6 percent after first reaching the bottom of the year.

Analysis house Inderes raised by an accounting firm Aalton Group the target price to EUR 10.50 from EUR 10.00 and the recommendation to buy level from add level.

By Editor

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