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Oriola reports its Q2 results on July 18th. We expect a fairly steady development, with the profitability of the Wholesale-segment of key interest. We have slightly dimmed our estimates ahead of Q2, expecting more gradual recovery. Overall, we expect continued good growth and volume-driven profitability improvements.

Finnair’s Q2 revenue fell a bit short of estimates as ticket prices developed slightly softer than estimated. The EUR 10m comparable EBIT missed estimates by about EUR 20m as Finnair updated its estimates regarding the effects of industrial action and North Atlantic routes’ demand.

Consti’s Q2/2025 figures are due on Friday, July 18. We expect slight sales decline y/y while mix should retain margins at a satisfactory level despite the intense competition. Market conditions continue to be soft, with recovery progressing slowly.

DT reports Q2 results on Aug 7. Q2 will not be great, and DT may not see earnings growth before Q4, but multiples are already relatively low on this year’s soft earnings while medium-term growth drivers remain intact.

Finnair reports Q2 results on Jul 16. Industrial action has continued to affect performance, while the earnings gains likely to be seen from H2 onwards are already priced in.

Duell’s first nine months of the fiscal year were negatively impacted by adverse weather and overall weakening demand sentiment. Market is expected to remain soft, continuing to pressure the company in Q4, where the focus is on profitability and inventory management.

Duell’s Q3 figures were anticipated to be weak following the profit warning. While profitability was below expectations, volumes exceeded our forecasts. In addition, developments in NWC, cash flow, and net debt were positives easing concerns related to leverage.

Duell lowered its guidance for FY 2025 as weakened market conditions resulted in weaker-than-expected Q3. The company’s Q3 (March–May) figures are due on Thursday, July 3.

Administer announced that it intends to acquire the financial, payroll and software services business of Sarastia, a significant and attractive opportunity that would increase Administer’s revenue by closer to 50%.

CapMan today announced a majority acquisition (51%) of German real estate debt specialist CAERUS. The in our view attractive acquisition already on standalone basis will provide further long-term growth potential and strengthen CapMan’s international presence.

Alisa Bank issued a profit warning, with continued weaker demand driving lower volumes. 2025 PTP excl. NRI’s is expected to be negative, a notable decrease from the bank’s previous expectations.

Endomines published its updated strategy for 2025–2029, which largely builds on the previous one, with the expected addition of critical minerals to the strategy. The company aims to grow into a significantly larger scale with growth in production and resources.