The general index of the Helsinki Stock Exchange ended at 13,142.83 points on Friday, rising 1.32 per cent during the day.
The toughest climbers of the day had reported their results Stockmann (+ 32.2%) and Tulikivi (+ 21.5%). The biggest drop was in the lagging behind analysts’ earnings forecasts Raute (-4,1 %).
At the exchange tip UPM-Kymmene (+ 1.5%) rose to EUR 34.39, The machine (+ 1.61%) to EUR 71.86 and Nokia (+ 0.9%) rose to 4.96 euros.
Stockmann’s and Kesko’s results raised prices
The department store chain Stockmann’s net sales increased in April-June to approximately EUR 228.0 million. In the corresponding period of the previous year, net sales amounted to EUR 182.7 million, an increase of 21.4 per cent from last year.
The two analysts following Stockmann were the information service Factsetin expected an average turnover of EUR 219 million from the company.
Stockmann’s adjusted operating profit in the second quarter was EUR 26.7 million. According to the company’s now reported figure, Stockmann’s adjusted operating profit for the corresponding period in the previous year was only EUR 0.8 million.
Trading group Keskon (+ 4.7%) net sales increased to EUR 2,988 million, while analysts expected an average of EUR 2,954 million. Its comparable operating profit, on the other hand, rose to 219.4 million, while analysts following the company expected EUR 202.4 million.
Kesko also announced that it would buy a Swedish hardware store The Builders’ Partners. The companies have not disclosed the purchase price to the public. The transaction is expected to close in the autumn. In addition, Kesko is planning to acquire the site for the use of its new Onninen logistics center in Hyvinkää.
The day offered six other earnings announcements
Renovator Constin (+ 2.8%) the result for the second quarter was in line with forecasts, when it made an operating loss of EUR -0.5 million. In the comparison period last year, the company made a profit of 2.4 million euros. Analysts expected the result to be EUR -0.4 million. It had a turnover of EUR 70.9 million, while analysts expected a turnover of EUR 69.4 million. One year earlier, net sales were EUR 69.3 million.
Contract manufacturer of metal components compound (+ 2.5%), on the other hand, increased its net sales to EUR 23.1 million in April-June from EUR 17.1 million in the comparison period. The company also turned its result into a 0.3 million plus loss from last year’s 0.9 million operating loss.
Well-known for paper machines and pulp mills Valmetin with a pre-merger valve company On them produced a slight disappointment in light of the result. The company’s adjusted operating profit decreased to EUR 19.0 million from EUR 22.9 million in the comparison period, while analysts expected EUR 22.7 million.
Net sales did not come as a surprise when it rose to EUR 146.2 million from EUR 140.6 million in the comparison period. Analysts expected an average of about 146 million euros.
Maaliyhtiö Tikkurilan (-0.2%) adjusted operating result in April-June was EUR 27.2 million. Adjusted operating profit for the comparison period was 34.7 million. The decrease compared to the same period last year was therefore 21.5 per cent. Its turnover was EUR 184.5 million. In the comparison period, net sales amounted to EUR 171.8 million.
Manufacturing of measuring instruments Vaisala (-1.9%) reported a turnover of EUR 109.5 million in April – June, which was 20% more than in the comparison period. The company’s operating profit was a profit of EUR 10.9 million, compared to EUR 7.9 million in the comparison period. The result thus improved by 38 percent.
The engineering company Raute’s net sales in April-June 2021 increased from EUR 24.4 million in the previous year to EUR 35.5 million. Analysts forecast an average turnover of EUR 34.3 million for Raute.
In terms of operating profit, however, Raute clearly fell short of expectations. As in the previous year, the result remained around EUR 1 million in the cold, although analysts following the company expected the operating result to be about EUR 1.7 million in profit.
The recommendations of yesterday’s earnings announcers were laid down
Inderes said in the morning that it would raise Valmet’s target price to EUR 38.50 (previously EUR 36.00), but that it would keep the additional recommendation unchanged.
Inderes also raised Huhtamaki (+3.6%) to the target price of EUR 45.00 (formerly EUR 44.00) and reiterated its further recommendation. ON in turn, Huhtamaki raised the target price to EUR 46.00 (previously EUR 45.00) and maintained its further recommendation unchanged.
Enenton (+ 1.6%) OP’s target price rose to EUR 40.00 (previously EUR 38.00), but the recommendation remained at the reduce level.
Alma Median (-1.9%) OP raised the target price to EUR 12.50 (previously EUR 11.50), but its recommendation remained unchanged.
UPM-Kymmene the target price rose for both OP and Inderes. OP’s new target price for the company’s share is EUR 41.00 (previously EUR 40.00) and a recommendation to buy, while Inderes’s EUR 35.00 (formerly EUR 34.00) and a recommendation for more.
Source: Arvopaperi by www.arvopaperi.fi.
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