The CEO, who sold his shares, believes that the international investor will increase interest in Nurminen Logistics – “I am very satisfied”

Logistics company Nurminen Logistics managing director Olli Pohjanvirtan investment company Railcap sold 200,000 Nurminen Logistics shares on January 13.

On January 20, it was announced that a French investment fund Lazard Investment Microcapswhich is managed by an asset management company Lazard Frères Gestionbought 2,593,847 Nurminen Logistics shares on January 13.

As a result of the transaction, Lazard Investissement Microcaps’ ownership increased to 3.31 percent.

According to data dated at the end of December, Pohjanvirta’s investment company Railcap held more than 2.9 million shares, and Pohjanvirta personally held 1.4 million. Pohjanvirta’s ownership therefore remains significant despite the sales.

Pohjanvirta does not directly confirm that it has sold its holdings to the investment fund, but comments that it considers the increase in its holdings to be a positive thing.

“I am very pleased that a large international management company has been interested and evaluated us in such a market situation, where quite a lot of capital is leaving Finland. It’s a big sign of trust in what we do internationally, especially in railway logistics,” says Pohjanvirta.

According to Pohjanvirta, the management company’s interest shows that Nurminen Logistics is on the right track in moving the business forward.

In addition, he believes that increasing ownership of the management company will increase the interest of Nurminen Logistics as an investment target.

“It makes it easier to do business, operational activities and certainly new financing, if you need it at some point.”

According to Pohjanvirta, the company’s growth rate is sought from outside Finland, so in that sense as well, an international shareholder base is a positive thing.

Pohjanvirta has a positive attitude towards 2025.

“We work actively especially in international rail transport and Essinge Railin buying in Sweden will of course greatly expand our field of activity and our customer base.”

According to Pohjanvirta, international growth reduces the impact of the Finnish economy on the company’s business.

In its current guidance, the company estimates that the turnover in 2024 will be below the turnover in 2023 and the comparable operating profit will be slightly below last year’s level. According to the previous guidelines, turnover and comparable operating profit were estimated to increase from 2023.

The two analysts following the company expect a turnover of 110.5 million euros and a comparable operating profit of 21.3 million euros in 2024. Analysts are also positive about the year 2025, as turnover is expected to grow to 144.6 million euros and operating profit to 23.6 million. At the current valuation, the analysts’ recommendation is “buy”.

Pohjanvirta estimates that Nurminen Logistics is one of the best-performing companies in the industry. New acquisitions are also possible during this year.

“Of course, we have to responsibly take care of the acquisitions that have already been made, of which we made two last fall. But we’re in such shape organically and we’ve gotten these acquisitions in well that we’re able to continue them.”

According to Pohjanvirta, rail traffic between Sweden and Central Europe and rail traffic between Finland and Sweden are particularly interesting possibilities. In addition, Pohjanvirta sees growth opportunities in Asia and other new areas, which he does not want to reveal yet.

In addition to acquisitions, the company also invests in organic growth, and projects are ongoing all the time, such as opening new lines or acquiring new equipment.

As a positive thing, Pohjanvirta also mentions that listed companies will have to change their reporting due to the CSRD directive so that emissions from indirect transport will also have to be reported in the future.

“Many companies have to think about their ways, and then of course we have to be ready to offer a competitive service.”