Cold water on investors’ necks: Shares of a promising Finnish company in an ugly decline

Listed on the Growth Market Place of the Helsinki Stock Exchange Canatun managing director Juha Kokkonen explained the decrease in the company’s turnover in Kauppalehti’s direct In the Talousamau program on Tuesday.

Canatu, which develops technology for the manufacture of microchips in the hot field of nanotechnology and the semiconductor industry, published on Tuesday morning its earnings release.

The turnover of the company, which aimed for strong growth, fell by 29 percent to 15.6 million euros last year. Adjusted operating loss doubled to 10.2 million euros.

“This is due to cyclicality. In 2024, we supplied two of our main customers with reactor products that enable them to do AI technology and, for example, Apple’s the technology needed to manufacture the chips, and it has been in the validation phase,” Kokkonen said.

According to Kokkonen, there was strong support from customers last year, and the company has also managed to sell a mass license that enables mass production. However, there was a delay in the scaling phase, Kokkonen said.

“As we announced, if we don’t place new reactor orders last year, it will lead to our turnover decreasing somewhat.”

In the morning, the company also announced a follow-up order for components with a long delivery time from its existing reactor customer.

“The order has not yet been finalized, but this is a clear indication that we are now moving from the validation phase to the time of growth. This is an important matter for us,” said Kokkonen. The value of the order is in the range of 1–5 million euros.

On Tuesday, Canatu gave up on his goal increase the turnover to more than 100 million euros in 2027. The strategy will be updated at the end of March.

At 11:14, Canatu’s share price was down about 21 percent.

Tuesday’s Talousamun plot Jussi Rosendahl.

You can watch the recording of Talousamu in its entirety below.