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Oriola Enköping - Man behind a computer smiling att a colleague.
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Oriola - Eyeing gradual improvements

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. 

Earnings Flash |
Finnair A350 Plane Flying.
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Finnair - More challenges than expected

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.

Earnings Flash |
Consti - Helsinki rail way station during renovation. Photo: Pasi Salminen.
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Consti - Yet to gain momentum

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.

Preview |
Detection Technology - Human skull, jar and backpack in lilac-toned colors.
DT logo purple
Detection Technology - Growth drivers are still there

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.

Preview |
Finnair A350 Plane Flying.
Finnair298x186 01
Finnair - Gains expected after tough spring

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.

Preview |
Duell - Man standing in front of a motorbike.
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Duell - Potential clouded by uncertainty

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.

Company update |
Duell - Man standing in front of a motorbike.
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Duell - Not all negative

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.

Earnings Flash |
Duell - Man standing in front of a motorbike.
Duell logo
Duell - Another bump in the turnaround story

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.

Preview |
Administer Group - People sitting on couch by coffie table.
Administer logo
Administer - Significant growth opportunity

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%.

Analyst comment |
Cap Man picture: A beautiful landscape in a swampy environment with people and a dog walking.
Cap Man logo black
CapMan - Expanding offering

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. 

Analyst comment |
Stone floor with shading.
Alisa bank logo
Alisa Bank - Suffering from demand weakness

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. 

Company update |
Endomines gold nuggets.
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Endomines - Raising the bar for future growth

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.

Analyst comment |

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