Finnish companies Posti Group, Cargotec, and Outokumpu release half-year financial reports

Several domestic publicly traded companies in Finland are releasing their half-year financial reports today, Thursday. So far, results have come in from the steel manufacturer Outokumpu, the cargo-handling equipment producer Cargotec, and Posti Group. Yle is monitoring the results and compiling corporate news in this article.

Posti Group reported an adjusted operating profit of €17.9 million for April to June, a significant rise from €5.3 million during the same period last year. Acting CEO Timo Karppinen stated in the interim report that this result represents the company’s best performance in a decade. However, the group’s revenue fell by 2.3% to €377.8 million. The total volume of parcels increased by 5% during the second quarter, while addressed letters decreased by 10%.

Cargotec, a company focused on cargo handling, saw its comparable operating profit rise by 2% to €82 million compared to the same period last year. Revenue fell by 4% to €625 million. CEO Casimir Lindholm noted in the interim report that high interest rates and uncertainty in some service areas delayed customer decision-making. Conversely, the robust shipbuilding cycle benefited the MacGregor business sector. According to Cargotec, the separation of its Kalmar business unit into a stand-alone public company is now complete.

Steel manufacturer Outokumpu reported a reduced adjusted operating profit of €1 million for April to June, down from €129 million in the same period last year. Revenue decreased to approximately €1.5 billion, compared to €1.9 billion a year earlier. The company indicated that the negative impact of a political strike resulted in about €30 million loss in the second quarter. CEO Heikki Malinen acknowledged that the European operational environment remains challenging despite ongoing market recovery.