Valmet odottaa piristyvi paperikonemarkkinoita

Article Abstract:

Valmet of Finland reported a profit after financial items of Fmk 415mn (US$ 76mn) for Jan-Apr 1998 (Fmk 347mn in 1-4/1997). Turnover increased 7.3% to just over Fmk 4bn. The profit amounted to Fmk 302mn (Fmk 317mn). Earnings per share was Fmk 3.96 (Fmk 3.24). According to Valmet, the result was improved by dividend, Fmk 104mn, and profit from selling shares. The turnover for the entire year 1998 is estimated to remain high regardless of unsteady markets. The paper machine markets are expected to pick up in 1999 and the positive outlook continues after that. Good profitability is possible due to restructuring and intensifying actions and to controlled subcontractor operations. The net sales of paper and cardboard machinery decreased 2.4% to Fmk 2.8bn. Net profit decreased due to uneven market situation and loading of capacity. According to Valmet, the risks for Asian projects are under control. New financing arrangements have allowed for delayed Asian deliveries to be continued. Demand for services has remained on a good level.

Comment:

Estimates that turnover for the entire year 1998 to remain high regardless of unsteady markets

Machinery ex Electric, Machinery, Valmet Corp.

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Aasian romahdus sy W rtsil NSD:n tuloksen

Article Abstract:

Finnish W rtsil NSD of the Metra Group has handed in a profit warning. The company's result for 1998 will remain lower than estimated due to the Asian crisis. On the other hand, the other units of Metra, that is Imatra Steel and Sanitec, are operating as expected. W rtsil NSD has performed a heavy production renewal programme and the company will now continue restructuring. Personnel will have to be reduced by hundreds in Sweden, the Netherlands and Switzerland and in the American joint venture Cummins-W rtsil Engine Company. According to W rtsil NSD, the decline in the Asian markets will affect mostly power stations. The company's most important reorganization plan is to transfer the production of the Swedish gas engine power station factory to the Netherlands.

Comment:

Issues profit warning & states that result for 1998 will remain lower than estimated due to Asian crisis

Financial management, Engines & Turbines, Wartsila NSD

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P rssin nousijat kaksinkertaistivat markkina-arvonsa vuodessa

Article Abstract:

The price index of the Helsinki Stock Exchange has increased a record-breaking 58.3% from June 1997 to June 1998. Finland's Nokia's stock quotation has increased over 100%. Nokia accounts for a third of the total market value of the companies listed in the Helsinki Stock Exchange. The stock quotation of 9 companies of the total 81 has at least doubled within the past year. The steepest increase has happened to Interbank to be merged as Mandatum Bank, with an increase of 373% in 6/1997-6/1998. At the end of June 1998 the share of foreign investors in the Helsinki Stock Exchange market value increased to over 50% for the first time in history.

Comment:

Increases its price index by a record-breaking 58.3% from June 1997 to June 1998

Securities and Commodity Exchanges, Misc Stock Exchanges, Stock exchanges, Helsinki Stock Exchange

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