At the beginning of the last trading day of the week, the general index of the Helsinki Stock Exchange was down 0.4 percent at 9,656.11 points.
Nordea, with a 0.2 percent decrease, and Neste, with a 0.9 percent decrease, were at the top of the exchange.
The sawmill company reported its interim results I willa plastics company Orthex and a discount store Tokmanni.
Koskinen’s net sales increased to 68.7 million euros from 55.0 million euros in the comparison period, and operating profit to 0.4 million euros from a loss of 1 million euros a year ago. The comparison period was exceptionally weak for the company, and the tight market is still punishing the company. Delivery prices for conifers also remained high.
“While the uncertainty of the operating environment continues, the level of results achieved is satisfactory,” commented the company’s CEO Jukka Pahta in the bulletin.
“Especially the recovery in construction has been slower than expected.”
Tokmann’s turnover and profit were up from a year ago. The figures were further inflated by the Dollarstore acquisition. According to the company, integration and the achievement of synergistic benefits are already a long way off.
“Consumer confidence was at a low level in both Finland and Sweden, and it was reflected in a lower average purchase. The demand was aimed at promotional products and products with a lower price point, i.e. in practice daily goods. Correspondingly, sales of the most valuable products decreased, sales of products over 100 euros decreased by more than 10 percent”, CEO Mika Rautiainen commented in his review.
Tokmanni’s comparable gross margin improved in the third quarter to 35.6 percent from 34.8 percent a year ago.
Tokmanni’s share was up 13.4 percent in the morning.
At Orthex, turnover increased slightly, but the result fell short of both the comparison period and forecasts.
“The decrease in profitability is related to higher production costs caused by anticipated sales growth, strengthening the commercial structure, and investing in sales measures and campaigns,” CEO Alexander Rosenlew described in the results release.
Orthex’s share was down 9.5 percent.
Cargotec’s turmoil comes to an end
Engineering company Cargotec said on Thursday evening that he had found a buyer for the MacGregor business. The operations will be sold to private equity investor Triton for 480 million euros. The intention to sell was known to the market, but the price level has been diligently guessed.
commercial bank analyst Timo Heinonen estimated on Thursday that the purchase price was somehow expected.
Cargotec estimates that the Hiab business that will now remain in the company will transform into an independent company next year. Thus, the division of Cargotec into separate companies is completed.
Cargotec’s share was down 8.2 percent on Friday as investors digested the news.
Kemira said on Friday morning that it plans to expand production in Helsingborg, Sweden. The company is also planning an investment in the construction of a new activated carbon reactivation plant.
According to Kemira’s press release, the value of the investment would be a few tens of millions of euros. According to the release, the new production facility would significantly add new capacity to the Nordic drinking water and wastewater treatment markets. The expansion plans are part of Kemira’s long-term strategy to double the water treatment business.
Kemira’s share was down 1.1 percent.