Aktia Bank, a Finnish financial services group, fell 5.6% to EUR 10.84 in the afternoon, sharply underperforming a 1.9% gain in the OMX Helsinki 25 benchmark, after first-quarter earnings were hit by weak life insurance income. Incap and Sunborn International, two other companies that revealed their early-year earnings today, also traded lower, down 1.6% and 3.6% respectively.
Aktia reported a comparable operating profit of EUR 18.7 million, down 35% year-on-year, as net income from life insurance dropped 84% to EUR 1.1 million due to negative market value changes linked to geopolitical tensions, rising long-term interest rates, and falling equity markets. Net interest income declined 9% to EUR 32.0 million, while net commission income rose 5% to EUR 32.3 million, supported by asset management.
CEO Anssi Huhta said market volatility, particularly in life insurance investments, weighed heavily on results, though underlying operations remained stable and broadly in line with expectations. Aktia expects its 2026 comparable operating profit to remain roughly in line with 2025.
Incap, an electronics manufacturing services provider, posted 7.3% revenue growth to EUR 56.0 million, helped by the acquisition of German EMS company Lacon Group, but profitability weakened. Comparable EBITA fell 14.2% to EUR 5.2 million, and operating profit dropped 16.7% to EUR 4.8 million, as foreign exchange movements and component shortages weighed. Net profit edged up to EUR 3.9 million.
CEO Otto Pukk said demand remained stable despite a challenging environment, with temporary component delays and lower volumes pressuring margins early in the quarter before conditions began to improve toward the end. The company expects revenue and comparable EBITA to be clearly higher in 2026.
Sunborn International, a yacht hotel developer and operator, reported net sales rising 1.8% to EUR 5.23 million. Growth in London, where sales increased 14%, was offset by weaker performance in Gibraltar, where revenue fell 9% due to softer room demand and cancellations tied to geopolitical developments.
CEO Hans Niemi described the period as mixed, with strong trading in London balancing a softer quarter in Gibraltar, while the company continues to advance refinancing and development projects.
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