Helsinki Q1: Full Earnings Season Summary

Results: Turned last year's loss into a profit, operating profit grew by 106.7% and revenue by 12.1%. Reasons: A robust 7.3% growth in passenger numbers indicates the continued recovery and strength of demand for air travel. Market reaction: The initial reaction was modest (+1.0%), but the stock has risen strongly since, being up over 35% since the results were published.

Results: Operating profit grew by 15.9% and sales revenue by 17.7%. Reasons: The retail company's growth was driven by both the opening of new stores and increased sales in existing stores, indicating sustained consumer interest. Market reaction: The stock jumped 9.7% on the day of the results and has maintained its level, being nearly 15% higher overall.

Results: Turned last year's loss into an operating profit of 685 million euros, which was one of the most powerful turnarounds of the season. Reasons: The result was driven by a sharp rise in refining margins for both oil products and renewable fuels. Market reaction: The stock reacted strongly, rising 6.3%. After the initial rise, the price has pulled back slightly but remains above the pre-results level.

Results: Operating profit growth slowed to a marginal 2.3%, disappointing investors. Reasons: The maintenance and modernization business was strong as expected, but weakness in the Chinese new equipment market significantly hampered the result. Market reaction: The market reacted negatively, the stock fell 3.3% on the day of the results and has continued to decline, now being down over 10%.

Results: Operating loss decreased by 50.3% and sales revenue grew by 3.7%, showing clear signs of recovery. Reasons: The results were driven by lower production costs and higher tire prices, which helped improve profitability. Market reaction: The stock reacted positively, rising 2.3%, and has continued to rise since, being up over 10% overall.

Results: Operating profit unexpectedly turned to a 4.4% decline, which was a major disappointment to the market. Reasons: The main reason was a 13.6% drop in sales in the port solutions segment, which wiped out the positive contribution of other businesses. Market reaction: The stock dropped sharply by 13.5% on the results. Although some of the decline has been recovered, the stock is still down nearly 10%.

Results: Sales revenue grew by 11.6%, but operating profit plummeted drastically by 76.8%. Reasons: Rapidly growing personnel costs ate up all the sales growth, indicating problems with cost management. Market reaction: Surprisingly, the market reacted positively, the stock rose 6.5% and has since rallied nearly 40% higher, reflecting investor hope for future improvement.

Results: Operating profit collapsed, falling by 88.4%, and revenue decreased by 10.1%. Reasons: A sharp drop in demand for forestry machinery and a weak level of orders hit the company hard. Market reaction: The stock reacted weakly as expected, but no major plunge occurred. Since then, the stock has remained stable, being at the pre-results level.

Results: Sales revenue grew strongly by 12.7%, but operating profit growth slowed to 7.7%. Reasons: Record sales of heaters, especially in North America, but growth was slowed by material costs growing faster than sales. Market reaction: The stock jumped 14.7% on the results and has remained at a high level, being up nearly 10% overall.

Results: Operating profit fell by 20.5%, showing the volatility of game development. Reasons: A decrease in development fees, which could not be fully offset by the good sales of Alan Wake 2 and royalty fees. Market reaction: The stock still reacted positively (+7.0%) and has continued to rise, indicating investors' belief in the company's long-term potential and future games.

Results: Turned last year's loss into a profit, which was seemingly impressive. Reasons: However, the result was mainly improved by the absence of last year's one-off IT cost write-down. Sales themselves fell by 3.1%, showing that demand has not yet recovered. Market reaction: The stock rose 8.3% on the day of the results and has continued to rise, being up nearly 14% overall.

Results: Operating profit grew solidly by 12.7%. Reasons: A strong result in the equipment business, but unexpected weakness in the services segment disappointed the market and left a bitter taste to the result. Market reaction: The market reacted sharply to missing expectations, sending the stock down 9.4%. The stock has remained under pressure since.

Results: Turned last year's loss into a profit, showing signs of improvement. Reasons: A strong result in the Americas segment and cost control managed to compensate for the continued weakness of the European market. Market reaction: The initial reaction was negative (-2.0%), as the result fell short of analysts' expectations. Since then, the stock has recovered slightly.

Results: Operating profit returned to a 14.0% growth after the previous quarter's decline. Reasons: Growth was driven by increased hydropower production and higher electricity prices, which are the cornerstones of the company's core business. Market reaction: The stock still reacted negatively (-3.3%), indicating that the result was weaker than expected or the outlook was disappointing. The stock has continued to decline.