Nordics: earnings summary 17. May

Endomines' first-quarter operating profit grew explosively by 192,0%, reaching 7,3 million euros. The result was driven by a 70,5% increase in the global market price of gold and a 9,8% increase in production volume. The company also forecasts production growth for the full year. The stock ended the week with a 0,6% decline.

Qt Group's first-quarter sales revenue grew by 11,6%, but operating profit plummeted by 76,8%. Profitability was pressured by a sharp 25,8% increase in personnel costs. The company has initiated a cost-saving program. Despite the weak profit, the stock rallied by 17,1% over the week.

Sagax's first-quarter operating profit grew by 52,9%, but the result was deceptive. The growth was mainly driven by the revaluation of real estate, while the growth of the core business, i.e., rental income, slowed to just 3,2%. Investors reacted coolly, and the stock fell by 6,3% over the week.

Etteplan's first-quarter operating profit turned sharply downwards, plunging by 47,8%. The main reason was the cooling demand for engineering services in Finland, which led to a 4,6% decline in sales revenue. Despite the weak quarter, the company forecasts profit growth for the full year. The stock ended the week with a 9,2% increase.

Copenhagen Airports' first-quarter operating profit accelerated its growth to 47,2%. The strong result was driven by a 14,0% increase in passenger numbers, reaching 7,0 million passengers. The company forecasts continued growth in passenger numbers for the full year as well. The stock ended the week with a 1,0% decline.

Outokumpu turned its operating profit back to positive in the first quarter, earning 3 million euros compared to a 7 million euro loss last year. The result was supported by the strength of the Americas segment and cost reductions, which offset the weakness in the European market. The stock fell by 6,1% over the week.

NKT's operating profit returned to growth in the first quarter, rising by 23,5%. The growth was driven by strong demand for distribution network cables, which increased sales revenue by 15,4%. In addition, the order volume grew to a record 13,5 billion euros, ensuring good visibility for the future. The stock rose by 7,3% over the week.

Raisio's first-quarter operating profit growth slowed down but remained at a strong 34,4% level. Profitability was supported by lower grain prices and a 15,5% reduction in operating expenses, while sales revenue remained flat. The company confirmed its growth forecast for the full year. The stock rose by 2,8% over the week.

Marimekko's operating profit recovered in the first quarter, growing by 18,6% after a decline in the previous quarter. The growth was driven by a 16,3% decrease in material costs and a 4,5% sales growth, which came mainly from wholesale. The company expects sales growth to continue. The stock ended the week with a 3,9% increase.

Lundbeck's first-quarter operating profit growth slowed down but remained at a strong 30,0% level. The success was driven by strong sales of the strategic drugs Vyepti and Rexulti, which prompted the company to also raise its full-year sales forecast. The stock fell by 3,9% over the week.

Balder's first-quarter operating profit decline accelerated to -12,7%. The result was pressured by a smaller profit contribution from the associated company Norion Bank. In addition, operating expenses grew by 14,5%, which was significantly faster than the 1,3% sales growth. The stock rose by 3,3% over the week.