The Helsinki Stock Exchange crawls in the afternoon – Modulight in a particularly steep downhill


The general index of the Helsinki Stock Exchange ended the week in a gentle decline.

OMXH was down 0.04 percent at 11,040.17 points on Friday at 3:12 p.m.

Developing medical applications of laser light Modulight has remained sharply in the red since the earnings report.

The stock was down nearly 40 percent in the afternoon.

Modulight made an operating loss of 2.6 million euros for the second quarter of the year with a turnover of 0.5 million euros. The difference from a year ago was significant. A year earlier, the operating profit was 1.6 million euros and the turnover was 2.4 million euros. Modulight did not give financial guidance for the current year.

According to the company, the weak success is due to the corona virus, component shortages and Russia’s attack on Ukraine. CEO Seppo Orsilan according to the war affects business, even if the company does not sell or buy from Russia.

“Russia’s war against Ukraine causes uncertainty in our business environment and affects the investments of our potential customers and the availability of financing for some early-stage companies and projects,” says Orsila in the press release.

According to him, the company’s product development pipeline remained stable at 26 projects, and the company received a significant new order worth $3.9 million during the quarter, as well as several smaller orders. According to Orsila, the implementation of the company’s strategy continued by expanding production and capacity.

“Unfortunately, there were also delays in the deliveries of new production equipment. In particular, Japanese suppliers continue to communicate the risks associated with equipment deliveries, and information about delays comes to us with very short notice.”

Modulight was listed on the stock exchange just under a year ago, when the subscription price of the share was 6.49 euros. The bid was significantly oversubscribed. At its highest, the share price has reached 17.40 euros.

Financial company A taler the decline in the fair value of investments weighed on its figures in the second quarter. According to the company, the background was especially the rise in interest rates, which has had a negative impact on the insurance company it owns Warranty to the valuations of the investment portfolio. Managing director by Peter Ramsay according to Taaleri, the quarter went operationally according to plans, although the decline in investment values ​​weighed on the numbers.

The exchange rate of the taaler was still falling.

A mining company Afarak published a huge profit improvement, but the company expects its profitability to weaken in the second half of the year.

The fireplace company that announced a positive warning earlier in the week Firestone the half-year review reported a clear increase in turnover and an increased result. Strongly increased heating energy prices and uncertainties related to the availability of energy and the security of home maintenance increased consumers’ interest in purchasing an alternative heating system, such as a fireplace.

The company raised its outlook earlier this week. The turnover for 2022 is estimated to be 38-42 million euros and the comparable operating result is estimated to improve clearly compared to 2021

PunaMusta Media reported that its operating loss deepened in the second quarter, but net sales rose clearly.

“The operating environment continued to be difficult in the second quarter of the year. The prolongation of Russia’s war of aggression against Ukraine and increased inflation significantly increased uncertainty in the use of advertising solutions by companies,” CEO Raimo Puustinen commented in the interim report.

PunaMusta Media did not change the instructions it gave in February. The company expects that the turnover will increase and the operating profit will improve this year compared to the previous year. Last year, turnover was 106.0 million euros and the operating loss was 1.8 million euros.


Source: Arvopaperi by www.arvopaperi.fi.

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