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[Earnings wrap] Finnish small caps Nightingale Health, Herantis Pharma, and Tamtron fall after results as OMXH25 slips
[Earnings wrap] Finnish small caps Nightingale Health, Herantis Pharma, and Tamtron fall after results as OMXH25 slips

Mar 5, 2026

Shares in several Finnish small caps fell this afternoon, following earnings updates, underperforming a slightly weaker broader market. For example, Tamtron Group, the weighing and material flow management technology provider, dropped 2.6% to EUR 5.36, while the OMX Helsinki 25 index slipped 0.15%.

Tamtron reported today that full-year 2025 revenue rose 5.5% to EUR 55.7 million, while operating profit fell to EUR 1.9 million from EUR 2.3 million. EBITDA edged up to EUR 5.9 million. Tamtron proposed a EUR 0.15 per share dividend and said it expects revenue and EBITDA to grow in 2026.

CEO Mikko Keskinen said the company reached a milestone despite weak demand in key markets. “We reached a milestone as revenue rose to an all-time high,” he said, highlighting acquisitions and investments in international sales.

Elsewhere, Orthex, a Nordic housewares manufacturer, fell 2.5% to EUR 4.64, also underperforming the market. For the full year, the company’s net sales slipped 2.8% to EUR 87.2 million, while earnings per share increased to EUR 0.38 from EUR 0.34. The board proposed a EUR 0.23 dividend per share, up from EUR 0.22.

CEO Alexander Rosenlew attributed weaker sales partly to cautious consumer behavior and shipment timing but said cost discipline supported profitability.

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Nightingale Health, a blood biomarker testing technology company, slipped 0.7% to EUR 1.49. The group posted revenue of EUR 2.41 million for July–December 2025, up from EUR 2.31 million, while EBITDA loss widened to EUR 5.37 million and net loss totaled EUR 8.81 million. The company said it aims to increase revenue by at least 50% in the 2025–2026 financial year.

Shares in Herantis Pharma, a clinical-stage biotech developing treatments for Parkinson’s disease, fell 1.9% to EUR 2.04. The company reported a full-year net loss of EUR 6.6 million, compared with EUR 4.9 million in 2024, as research spending continued. CEO Antti Vuolanto said positive Phase 1b results for the HER-096 drug support plans to begin a Phase 2 trial in 2026.

Authors

Emmi Laine is head of business content at Listeds and our lead for finance and business coverage. She sets the editorial agenda, interviews Nordic business leaders, and writes stories, newsletters, and social content on timely market and corporate topics. Emmi brings nearly eight years of experience from Shanghai's Yicai Global / Yicai Media Group, where she was awarded for reporting on China’s economy, finance sector, and technology innovation. She holds an MSc in Innovation and Entrepreneurship from ESADE Business School in Barcelona and a Master’s degree in International Design Business Management from Aalto University. She also holds a Bachelor’s degree in Culture Studies with a major in Journalism from Stockholm University and has studied Mandarin Chinese and Chinese culture. Emmi is a Finnish citizen and has lived in Finland, Sweden, China, and Portugal.

Emmi Laine is head of business content at Listeds and our lead for finance and business coverage. She sets the editorial agenda, interviews Nordic business leaders, and writes stories, newsletters, and social content on timely market and corporate topics. Emmi brings nearly eight years of experience from Shanghai's Yicai Global / Yicai Media Group, where she was awarded for reporting on China’s economy, finance sector, and technology innovation. She holds an MSc in Innovation and Entrepreneurship from ESADE Business School in Barcelona and a Master’s degree in International Design Business Management from Aalto University. She also holds a Bachelor’s degree in Culture Studies with a major in Journalism from Stockholm University and has studied Mandarin Chinese and Chinese culture. Emmi is a Finnish citizen and has lived in Finland, Sweden, China, and Portugal.

Authors

Emmi Laine is head of business content at Listeds and our lead for finance and business coverage. She sets the editorial agenda, interviews Nordic business leaders, and writes stories, newsletters, and social content on timely market and corporate topics. Emmi brings nearly eight years of experience from Shanghai's Yicai Global / Yicai Media Group, where she was awarded for reporting on China’s economy, finance sector, and technology innovation. She holds an MSc in Innovation and Entrepreneurship from ESADE Business School in Barcelona and a Master’s degree in International Design Business Management from Aalto University. She also holds a Bachelor’s degree in Culture Studies with a major in Journalism from Stockholm University and has studied Mandarin Chinese and Chinese culture. Emmi is a Finnish citizen and has lived in Finland, Sweden, China, and Portugal.

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