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Tecnotree continued its growth trend in the first quarter of the year. Currency exchange rates remained a headwind, but the company continues its collaboration with several financial institutions to mitigate currency losses through currency exchange agreements and hedging.
Wärtsilä's strategy is delivering results and the demand outlook is good. Håkan Agnewall, President and CEO, explains the development of the marine and energy business in an interview with inderesTV.
Eltel’s focus is on strategy implementation, where the ultimate goal is to build a foundation for a sustainable, profitable growth. CEO Håkan Dahlström summarizes the big picture, as well as the Q1.
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Q1 was operationally in line with expectations, and we kept our forecasts unchanged in the big picture. However, the biggest news yesterday was that the Banking business will unexpectedly remain part of the group, which was disappointing. In 2024, we expect the company’s earnings to be at the level of the comparison period, due to a challenging market, but to grow moderately in the coming years.
In our view, the Q1 report landed on the positive side thanks to the earnings beat and cautiously positive market commentary. We revised our forecasts slightly upwards after the report, although some of the changes were technical.
Exel's Q1 figures were broadly below our expectations due to the timing of deliveries. However, on the day of the results, the spotlight was stolen by the company's planned rights offering of a significant size to strengthen its balance sheet and accelerate its strategy.
Neste's Q1 figures were well below our expectations, driven by Renewable Products. Given the trajectory of sustainable aviation fuel sales, this is not particularly dramatic as long as sales volumes start to rise as expected in the coming quarters. We believe the conditions are in place for this to happen, but evidence is needed to restore market confidence.
On Thursday, Meriaura Group announced that it is planning an ownership arrangement in which the Group would sell a minority holding in the Group’s subsidiary Meriaura to the Group’s main shareholder Meriaura Invest.
One of the company’s business targets was to conclude contracts in medical research with a total contract value of at least 3.2 MEUR during the financial year July 1, 2023 – June 30, 2024, which was achieved a few months before the end of the financial year.
Q1 was weak as expected and the sluggish order intake did not improve the outlook for growth. The company's management seems to believe that growth will accelerate in H2 with the help of new customers, growing capacity and a new product portfolio.
Fiskars’ Q1 result was at the expected level, despite weakish revenue. The company reiterated its guidance, i.e. full-year EBIT is expected to be slightly above last year’s level.
The beginning of the year was challenging for Kempower, partly due to high customer inventory levels and delayed decision-making. However, the company expects the situation to improve during the latter part of the year.
The share price has recovered slightly and the first tranche of the dividend has been paid, which means that the upside potential has shrunk. At the same time, we have made negative revisions to the Q1 earnings forecast due to the Olkiluoto 3 problems and lower electricity prices, which has weakened the risk/reward of the stock.
In our view, the overall picture of Scanfil's Q1 report released on Wednesday was fairly neutral, despite a slight earnings miss, and we did not make any material changes to our forecasts for the coming years following the report.
SciBase’s new partner, Al Shirawi Healthcare solutions, is a Dubai-based distributor of medical technologies focusing on multiple specialties including dermatology. The announced partnership gives SciBase a distribution and sales channel in the United Arab Emirates (UAE). According to SciBase, the partnership enables them quick market access at a low investment cost.