The Helsinki Stock Exchange experienced another week of declining prices and trading value. Despite a few exceptions, the general trend was a decrease in share prices for many companies. At the close of the trading week, the general index had dropped 0.8 percent to 9,756.86 points.
Fortum and Neste Corporation, two of the most traded stocks, suffered losses, down 3.2 percent and 2.7 percent, respectively. Lassila & Tikanoja also faced a significant decline in their results due to decreased waste volumes and reduced pricing of recycled materials. The company’s CEO, Eero Hautamäki, commented on this decline saying it led to a diminished operating profit by 4.5 million euros.
Chemical company Kemira experienced a fall in operating results due to lower sales prices and purchase and bleaching chemicals. On the other hand, Olvi saw its operating profit rise to 7.8 million Euros from 1.7 million Euros due to consistent sales in energy drink categories despite a slight weakening of purchasing power in retail sectors and hotel and restaurant channels.
Digian experienced a relatively stable performance with an operating profit of 5.1 million Euros as expected by Inderes while Betolar marked an increase in the stock market with a rise of 14.4 percent during trading hours. Bittium faced product delivery delays and other influences on financial development leading to unexpected financial challenges while Teleste re-estimated their turnover expectations higher after an unexpected operating profit for the past quarter despite experiencing decreased EBITDA compared to previous estimates at Norrhydro which reported an increase in turnover but a decrease in EBITDA with lower result for full year compared to previous estimates than expected beforehand.
In summary, the Helsinki Stock Exchange encountered widespread declines with only a few exceptions such as Betolar that showed growth potential for investors looking for promising investments amidst global economic instability impacting many industries including retail sectors and hospitality segments that struggled during this period due to weaker purchasing power among consumers leading to lower sales revenue for some companies like Digian that suffered from operational losses despite higher turnover expectations from Inderes analysts while Bittium faced financial difficulties related to product delivery delays impacting its operations leading to unexpected financial results that could impact investor confidence on this sector as well as Teleste which had been estimated for higher turnover expectations until now but failed to meet them leading investors unsure about future prospects.