STOCK EXCHANGE: Helsinki opened up – profit warning Dovre Group continues to decline

The Helsinki Stock Exchange’s general index opened on Friday at 9,354.5 points, or 0.3 percent higher than Monday’s closing reading.

On the other days of the Christmas week, the stock exchange was closed.

At the top of the most traded shares was the bank Nordea with an increase of 0.4 percent at 10.35 euros. The oil company came second In this with a 2.4 percent bond at 11.42 euros and the third place is the forest company UPM with an increase of 1.7 percent at 26.15 euros.

The slide of Monday’s result warning continues

Consulting company Dovre Group issued a profit warning on Monday and the stock fell 29.4 percent from Friday’s closing reading.

Today, the share was down 12.6 percent at 0.22 euros.

The company expects its turnover this year to be 88-93 million euros and the operating loss to be between 13-15 million euros. The turnover guidelines are still the same, but previously the loss was estimated to be in the range of 5-6 million euros.

The figures concern the remaining business operations of the company. Dovre said in November that it would sell part of its businesses to a Swedish company NYAB: lle.

The reason for the decreased guidance is the weakened profitability of part of the energy builder Suvic in projects, the company announced. Dovre Group owns 51 percent of Suvic.

Afarak Group continues to rise

A mining company of Afarak Group the share price rose by 17.2 percent to EUR 0.34. The stock already rose 18.6 percent on Monday after first hitting the lows of the year.

The company said on Monday that it will distribute 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 financial period is at least ten percent of the EBITDA for the entire year.

There have been scandals surrounding the Afarak Group for several years, which have been connected to the Croatian businessman Danko Končariin and the company’s unclear ownership patterns.

Other strong risers on the stock market were the one designing fundus cameras Optomed 9.4 percent and an accounting firm Talenom 3.3 percent tight.

Silja Europa remains in the Netherlands

Shipping company Tallink Group announced today that the Dutch company signed a new contract with its subsidiary Tallink Silja Sleepers Public BV:n with.

The agreement concerns the chartering of the Silja Europa ship to Holland for six months from the beginning of next year. The contract can be extended even after this. The vessel has been chartered to the Netherlands since August 2022.

Tallink’s share was down 0.4 percent at EUR 0.57.

L&T’s target price fell

Inderes the real estate maintenance company calculated today Lassila & Tikanojan target price to EUR 9.00 from EUR 10.00 and repeated his recommendation for more. According to the analysis house, the stock is moderately valued and the dividend yield also supports the income.

However, there are no strong growth drivers for course development. L&T said in December that it would split real estate service and circular economy operations into its own listed companies, which Inderes estimates will only happen in about a year.

The company will also start a profit improvement program, which the analysis house estimates will support profit growth in the next few years, but will not really start to have an impact until 2026.

L&T’s share was down 0.4 percent at 7.75 euros in Friday morning trading.

The Helsinki Stock Exchange will only trade today and Monday this year. The stock exchange is closed on New Year’s Eve.