STOCK EXCHANGE: Admicom’s result fell short of expectations, WithSecure said about the business deal

The general index opened on Thursday with a rise of 0.2 percent to 9,869 points. In the most traded stocks Nordea had risen by 0.5 percent, while Sampo had decreased by 1.8 percent. Roots was 2.4 percent plus.

Exchange rate reactions and exchanges have been compiled in a table at the end of the story.

The results season of the Helsinki Stock Exchange started today, when the software company Admicom announced its numbers first, as usual.

Admicom’s reported operating profit was EUR 1.3 million in October–December. The consensus of four analysts collected by the information service FactSet estimates that Admicom’s operating profit in the last quarter of the year would have been EUR 1.9 million. In the comparison period a year ago, the operating profit was 0.7 million euros.

“In the last quarter, the annual continuous billing (ARR) growth was slightly below our expectations. The growth was especially weakened by contract updates based on the development of Ultima business management system customers’ turnover and customer churn, which after a good third quarter rose again especially due to bankruptcies”, managing director Simo Lesti commented in the announcement.

Admicom estimates that in 2025 the continuous annual billing (ARR) will grow by 8-14 percent. Continuous annual billing was 35.7 million euros last year. Adjusted EBITDA is estimated to be 31-36 percent of turnover.

WithSecure sells its consulting business

Information security company WithSecure announced that it is selling its cyber security consulting business to a Swedish investment company Neqstille. The contract was signed today, Thursday.

According to the company’s press release, the parties have agreed on the value of the company at 22.5 million euros.

60 percent of the purchase price will be paid in cash, as a debt-free purchase price upon completion of the transaction. The remaining 40 percent of the purchase price is variable and is based on the business results of 2025 and 2026. It will be paid in two installments at the beginning of 2026 and 2027.

Software and service company Digital said that he had contracted a building engineering company for the modernization of operational control AREwith .

ARE’s old RP system will be replaced with a modern cloud-based Microsoft Dynamics 365 solution.

According to Digia’s press release, the value of the cooperation agreement is approximately two million euros.

Changes to investment recommendations and target prices

The OP has calculated Terveystalo from the plus level to the minus level of the recommendation, but maintains the target price at 11.50 euros.

OP raises Stora Enson the target price to 10.50 euros from the previous 10.00 euros, but still keeps the recommendation at the reduce level.

Inderes has raised Fodian recommendation to the buy level from the previous add level and maintained the target price at 5.60 euros.

Nordea has raised Terveystalo’s target price to 13.00 euros from the previous 11.80 euros and reiterates its buy recommendation for the company.

Nordea has also raised I coached target price to EUR 31.00 from the previous EUR 29.00 and confirms the buy recommendation.

The Carnegie Group has counted YIT: n the target price to 3.40 euros from the previous 3.60 euros and repeats the buy recommendation for the company.

Citi has lowered Stora Enso’s target price to EUR 12.00 from the previous EUR 12.50, but maintains the buy recommendation.

Citi is counting UPM:n target price to EUR 27.00 from the previous EUR 27.50 and reiterates the hold recommendation.