STOCK EXCHANGE: Among earnings publishers, Duell gets more leverage – Talenom in rökäle decline after earnings warning

The results season opened on Wednesday at the Helsinki Stock Exchange when Admicom and duel published their results report. The bigger rush starts next week.

The general index of the Helsinki Stock Exchange was up 0.3 percent at 10,155.27 points at 1:20 p.m. in the afternoon.

Vaihtokärje’s shares on Tuesday, including the ruckus Liquid the share price was up 1.15 percent. Outokumpu’s share price was in the deepest decline of 2.6 percent.

Citycon’s late-night surprises continue, now the CEO is leaving

Late Tuesday night Citycon announced that the CEO Henrica Ginström to leave his position immediately, after only five months. The real estate investor issued a profit warning on Monday after the stock market closed, which sent the stock down nearly seven percent on Tuesday.

The vice chairman of the board and the company’s previous CEO have been appointed as interim CEO F. Scott Ball. The application process for a new CEO has been started.

Citycon’s share price was down 0.6 percent at 3.798 euros in the afternoon.

Admicom and Duell received investor support for their results

A software company serving the construction industry Admicom will report its results for the third quarter of the Helsinki Stock Exchange in the morning. The result still fell short of the comparison period in a difficult market, but continuous annual invoicing increased. The company kept its instructions unchanged.

Admicom’s share price was up 2.0 percent at EUR 52.00.

“In the third quarter of 2024, we saw the first signs of a pick-up in the construction industry”, CEO Petri Kairinen comment in the results announcement.

Motorsport wholesaler Duell improved its profitability. In the morning, the company published a business overview from June to August, as the company’s accounting period differs from the usual one. The completed period is the fourth quarter of the financial year for the company.

Duell expects that demand in the next 12 months will be slightly better than in the comparison period, but there may be variations by product category. In addition, Duell expects organic currency-adjusted net sales to be at the same level or higher than the previous year.

Duell continues to focus on improving profitability and expects adjusted EBITA to improve from last year’s level.

In addition, the company said that it plans to combine shares, i.e. a so-called reverse split. The matter will be discussed at the next general meeting.

Duell’s share price was up 5.9 percent at 0.0410 euros.

Talenom warned, change negotiations also started at Kemira

Accounting firm Talenom issued a profit warning, and lowered its guidance for turnover, EBITDA and operating profit.

Talenom’s share price was down 12.65 percent at 4.28 euros.

Talenom justifies the decrease in guidance by the fact that the prolonged downturn in the Finnish economy has affected the company’s turnover more strongly than estimated, and in addition, the company has made fewer acquisitions than planned.

Talenom also said it decided to update its strategy to accelerate growth and make it even more scalable. In connection with this, the company plans to separate the software business into its own company. The company is not intended to be separated into, for example, its own listed company, but it is intended to become another support leg for Talenom.

In connection with the separation of business operations, the company will initiate change negotiations, which will affect approximately 180 people in Finland, and they may lead to the termination of a maximum of 35 employment relationships. With this, annual savings of approximately 2–3 million euros are sought for investments and direct costs.

Kemira announced in August that it was planning a new operating model and organization to enable profitable growth and a transition towards more sustainable operations. As part of these plans, Kemira will initiate change negotiations, which will include the company’s Finnish personnel, with the exception of the production organization. Kemira has about 800 employees in Finland, of which about 280 are in production.

The planned changes may lead to the termination of the employment of a maximum of 40 people. Other effects can be, for example, changes in terms of employment and job duties.

Kemira’s share price was up 0.2 percent at 22.14 euros.

Multidisciplinary company At least subsidiary ESL Shipping to build four fossil-free cargo ships, the total value of which is around 186 million euros.

Aspo’s share price was up 1.3 percent at 6.06 euros.

The investment will be implemented during the years 2024–2028. ESL Shipping has the option to expand the order with several ships. New ships are manufactured China Merchants Jinling Shipyard in Nanjing, China.