The Helsinki Stock Exchange ended up rising – Investors did not warm to apartment flipper Ann

At the end of Tuesday, the general index describing the price development of shares on the Helsinki Stock Exchange was up 0.6 percent at around 10,918 points.

Of the twelve most traded stocks, the fastest rising were Orion 1.3 percent uphill and In this 1.6 percent up.

In recent weeks, made rapid course movements Spinnovan the share was again at the top of the stock market’s rise, rising 19.9 percent. The company has not announced significant news related to its business, but Time magazine had put the company on its list of the best innovations of 2022 last week. The share has risen rapidly since the beginning of November, before which, however, it had time to fall significantly from the fall of last year.

Energy company Fortum’s the share was down 0.4 percent on Tuesday.

The company announced that it had signed a contract with an American nuclear power company Westinghouse Electric Companyn with the design and delivery of a new type of fuel to the Loviisa nuclear power plant.

The new fuel type is based on the fuel developed by the British Nuclear Fuel company, which was used in Loviisa between 2001 and 2007. Currently, the Loviisa nuclear power plant uses Russian fuel.

The fuel agreement concluded with the Russians is valid until the expiration of the current licenses in 2027 and 2030.

The pinball hand flopped

Buying investment apartments and selling to investors said that it was canceling the initial public offering announced on November 14, 2022 due to insufficient demand for the shares in the public and institutional issues, even though the personnel issue was oversubscribed according to the company.

In accordance with the terms of the initial public offering, the payments made for the shares offered will be returned to the subscribers within approximately seven banking days.

“Unfortunately, we have to state that the current investor interest did not enable the listing of,” the company’s CEO Henri Neuvonen commented in the announcement.

“Although I still strongly believe that the general challenges of the housing market and the changing market situation offer us more opportunities than hinder our business, we failed to convince investors of this.”

According to Neuvonen, listing is still an option for the company in the future.

This year, several other companies have already canceled their listing in the middle of the process.

Lamor aims for an adjusted operating profit margin of 14 percent

Environmental service company Lamor announced that in the period 2023–2025 it aims to increase its turnover to more than 250 million euros and increase the adjusted operating profit percentage to more than 14 percent.

Previously, Lamor aimed to increase turnover to more than 100 million euros as soon as possible, as well as annual growth significantly faster than market growth after reaching this level.

In terms of profitability, in addition to an operating profit margin of more than 14 percent, the goal was an EBIT margin of more than 16 percent. However, the company has not reached these goals.

The targeted turnover level of 100 million euros will be exceeded this year, because after January–September, Lamor already had a turnover of 99.7 million euros. The company’s operating profit percentage was about nine percent.

Lamor’s share was down 1.7 percent on Tuesday.

Kesla’s new CEO, SSAB starts change negotiations

Forest machine company Sadness has been appointed as the new CEO Marko Pekkola from this day on. Since 2015, he has handled the duties of the CEO Simo Saastamoinen leave his job.

Kesla’s share was up 2.3 percent.

Steel company SSAB announced that it will start change negotiations in three locations in Finland: Hämeenlinna, Kankaanpää and Pulkkila, the company informs.

About 300 people are in the scope of negotiations regarding possible layoffs. According to the release, the negotiations may lead to a maximum of 90 days of layoffs.

Head of the Finnish business unit of SSAB’s Europe division Janne Pirttijoki stated that the reason for the adaptation measures was the weak market situation.

SSAB’s B share was up 2.9 percent.

Lemonsoft started change negotiations, Metso Outotec is considering the fate of the foundry

A software company Lemonsoft said that he was planning to reform the organizational structure and that he would start the change negotiations.

“The goal of the negotiations is to support a more efficient organization of the company’s operations, to eliminate overlaps with previously purchased businesses and to achieve synergy benefits within the group,” the company said in a press release.

In connection with the ongoing strategy update, Lemonsoft is considering switching to an industry-specific organizational model. The goal of the reform is to clarify responsibilities and improve customer service within each industry.

Employees of Lemonsoft Oyj, Planmill Oy and Lixani Oy are included in the negotiations. Based on Lemonsoft’s estimate, the need to reduce personnel is less than 10 people. A total of around 130 people in Finland are involved in the change negotiations. Lemonsoft Group employs a total of 185 people.

Lemonsoft’s share was down 2.3 percent.

Metso Outotec said it had begun the process of evaluating options for the future of its foundry in Prerov, Czech Republic.

The alternatives are the sale of the foundry, either in part or in its entirety, or possible closure. According to the company, the evaluation is due to increased energy and production costs.

Metso Outotec also plans to adjust the number of personnel at the Prerov foundry to match the order backlog. The planned personnel reductions will be implemented from January 2023. Currently, about 230 people work in the Prerov foundry.

Including Prerov, the company has five own foundries in China, India and Brazil, as well as an extensive network of external suppliers.

At the end of the day, Metso Outotec’s share was up 1.0 percent.

Additional order for Bittium

Bittium said that he had received an order from the Defense Forces for tactical Bittium Tough SDR military and vehicle radios.

The order is worth around 4.3 million euros without VAT. This is the first additional procurement related to the additional procurement provision of the procurement contract concluded on 12 December 2018. Deliveries of radios ordered now will begin in 2022. The order does not change the company’s financial guidance for 2022 announced on October 21, 2022 in the January-September 2022 business review.

At the end of the day, Bittium’s share was 4.6 percent.

Source: Arvopaperi by

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