The decline in the general index of the Helsinki stock exchange turned to a gentle rise by the afternoon and a moment ago was up 0.0.2 percent at 9770 points.
By the afternoon, it was the most traded and up 0.7 percent Nordic share. Yesterday, the company announced better-than-expected results.
The second most traded and with a strong 2.8 percent increase had also announced its results yesterday Nokia. Although the company’s first quarter figures did not meet expectations, the company anticipates that the foundations of the mobile network business have now been seen.
Forestry company UPM-Kymmene was the third most traded and up 0.8 percent. Morgan Stanley raised the company’s target price by two euros to 34.00 euros.
The largest increase was a health technology company On Nightingale, whose share was up 6.4 percent. The company’s stock has been on a strong rise all week after announcing on Wednesday that it will open a laboratory in the United States. At the same time, the company announced that it had signed a memorandum of understanding, the aim of which is to take Nightingale Health’s blood analysis technology to healthcare use in the United States.
Manufacturer of forest machines Ponsse said that it is lowering its guidance for 2024. Ponsse’s operating profit in euros is estimated to be slightly weaker than in 2023, when it reached 47.2 million euros.
The company’s share was down 3.4 percent a moment ago.
Friday’s results announcers
On Friday morning, four listed companies published their first quarter earnings reports.
Telecom operator Elisa’s operating profit in January–March was 112 million euros. Analysts expected an operating profit of 117 million euros, according to the information service FactSet. The company kept its instructions unchanged. Elisa has instructed that the turnover and comparable EBITDA should be at the level of the comparison period or slightly higher in 2024.
“Elisa’s good earnings continued in the first quarter despite the geopolitical and macroeconomic challenges. Turnover decreased as a result of the sale of business operations, a decrease in equipment sales and a decrease in intermodal turnover”, CEO Topi Manner said in the results announcement.
Elisa’s share was down 0.2 percent.
Focusing on digital media and services Alma Median the result of the first quarter was barely below analyst expectations. The company’s operating profit adjusted for non-recurring items was 16.1 million euros, while analysts expected it to have been 16.3 million euros in the first part of the year.
“Alma Media’s business developed well in the first quarter, despite the sluggish operating environment. Turnover remained at the level of the comparison period at 76.2 million euros. Turnover was supported by acquisitions, but the weakened exchange rate of the Czech koruna slowed down the development of turnover,” CEO Kai Telanne stated in the earnings release.
Alma Media’s share was also down by 0.2 percent.
IT service company The gofor the first quarter was, as expected, sluggish compared to the company’s previous growth and profitability development. Gofore’s adjusted ebita result decreased to 6.8 million euros from 8.3 million euros in the comparison period.
“In our eyes, the first quarter seems like the trough of a weaker market situation. In particular, the turn of the year coincided with the end of projects and cost-saving measures, but new projects were also started. This was seen in both the public and private sectors”, CEO Mikael Nylund stated.
Gofore’s share was up 0.5 percent a moment ago.
A software company The QPR Software the operating profit in the first quarter of the year was 0.03 million euros, while the operating loss was 0.3 million in the corresponding period last year. The company’s result was positive for the first time since the third quarter of 2019.
The company’s share was down 5.1 percent in the afternoon.
ON welski YIT:n target price to 1.70 euros from 1.80 euros, the reduce recommendation remained unchanged.
ON welski Nokian target price to 3.70 euros from 3.80 euros, the add recommendation remained unchanged.
OP nosti Nordic target price to 13.50 euros from 13.00 euros, the buy recommendation remained unchanged.
Inderes raised Robitin target price to 1.90 euros from 1.80 euros, the recommendation dropped to add level from buy level.
Inderes counted Titaniumin the target price to EUR 12.00 from EUR 15.00, the reduce recommendation remained unchanged.
Inderes counted Aspocompin target price to 3.30 euros from 3.50 euros, the recommendation decreased from the reduce level to the increase level
Inderes counted Talenomin recommendation to the add level from the buy level, the target price of 6.30 euros remained unchanged.
Kauppalehti is part of Alma Media.
Addition 19 April 2024 at 13:00: Added information about Ponsse’s profit warning.