STOCK EXCHANGE: Helsinki Stock Exchange climbs on the rise – Admicom opens strong earnings season

The downward opening of the Helsinki Stock Exchange had turned slightly on the upside on Monday afternoon. The stock exchange’s general index rose 0.1 percent to 11,307 points.

At the forefront of the day were In this A decrease of 1.9%, Nordea 0.7 per cent decrease and Nokia 1.5 percent increase.

Neste said that it had completed negotiations on financing EUR 88 million for a clean hydrogen project at the Porvoo refinery. The project is in the feasibility study phase and a final investment decision has not yet been made. The planned start date is in the mid-2020s.

Neste announced that the EU Innovation Fund had initially granted the company EUR 88 million in financing in November.

Brand company Marimekon the share was up 0.9 percent in the afternoon when the company said it would announce a partnership with Ikea. Available for a limited time, the collection, which draws on sauna culture, will go on sale in most Ikea stores worldwide from March 2023 onwards. The products in the collection will be revealed later.

Collaborative collections typically generate license revenue for Marimekko. License income related to the Ikea cooperation has been recognized in Marimekko’s Scandinavia net sales in the fourth quarter of 2021, the company says.

Evli and Fellow Finance’s merger completed

Married Pankin and Fellow Finance the mutual merger was completed over the weekend and trading in the companies ’shares began today. Evli Bank will be officially known in the future Evli ja Fellow Finance Fellow Bank.

In connection with the merger, the stock exchange saw a special situation on Friday in which some investors did not seem to understand the real value of Evli’s share due to the completion of the merger. As a result, trading in Evli’s shares was suspended on the stock exchange at noon throughout the last Friday.

On Monday, Evli’s share was quoted in the afternoon at EUR 18.68 and Fellow Bank’s share at EUR 0.52.

Trainers House in turn, today carried out a reverse split of its shares. Ten of the company’s old shares have been merged into one share after the reverse share split. The split caused a sharp fluctuation in the company’s market value after the market opened, but the price leveled off soon after.

In the afternoon, the company’s share was traded down 2.8 percent.

Admicom started a new earnings season

The first quarter earnings period of the Helsinki Stock Exchange officially began when Admicom published its January-March results shortly after the stock market opened.

Admicom’s net sales rose to 7.3 million and operating profit to 2.7 million euros. The company’s earnings guidance remained unchanged. The company instructs revenue growth to be above 20 percent and profitability to be 40-50 percent relative to EBITDA.

Admicom’s share was up 11.0 percent on the stock exchange.

Energy service company Enersense said on Monday it had signed a contract for a € 7 million wind farm contract. These are the British company Low Carbon’s Mörknässkogen wind farm in Vöyri and Low Carbon’s first wind power investment in Finland. The project is scheduled for completion in the fall of 2023.

Enersense’s share rose 1.6 percent in the afternoon

The recommendation change was received today Scanfil. ON In the morning, it reduced Scanfil’s target price to EUR 8.20 (previously EUR 8.30) and its recommendation to an additional level (formerly to buy).

Scanfil’s shares were traded down 0.5 percent.

By Editor

Leave a Reply