Feb 20, 2026
Shares in Sotkamo Silver, a Finland-focused mining and ore prospecting company, surged 13.3% to €0.43 in the afternoon, following its 2025 earnings release, far outpacing the OMX Helsinki 25 index, which was up 0.4%.
Scanfil, an electronics manufacturing services provider, rose 0.7% to €11.32, while Ilkka, a marketing and technology group, added 0.3% to €4.02. Modulight, a life science company developing laser-based medical devices, slipped 0.3% to €1.17.
Sotkamo Silver reported a sharp turnaround in the fourth quarter, with net sales climbing 25% to SEK 135 million (EUR 12.6 million). EBITDA more than doubled to SEK 51 million from SEK 23 million, lifting the margin to 38% from 21%. EBIT jumped to SEK 33 million from SEK 3 million. For the full year, net sales fell 5% to SEK 393 million, and EBIT declined to SEK 9 million from SEK 33 million, as lower silver grades and mining challenges weighed on production earlier in the year.
CEO Mikko Jalasto said the rapid rise in the silver price had a “very positive impact” on profit and cash flow, even though 2025 was operationally challenging. The company expects to produce 0.9–1.2 million ounces of silver in 2026 and forecasts annual EBITDA above €25 million, with net debt-to-EBITDA below 1.0.
Scanfil, which builds electronics for other companies, reported full-year 2025 turnover of €797.1 million, up 2.2% from €779.9 million a year earlier, with organic growth of 2.6%. In the fourth quarter, comparable EBITA held steady at €15.5 million, corresponding to a 7.3% margin. CEO Christophe Sut said the quarter was “the most transformational” since the company updated its growth strategy, highlighting two acquisitions that expand its footprint in the Americas and Southern Europe.
Ilkka, which owns a stake in newspaper Ilkka-Pohjalainen, posted 22.6% revenue growth from continuing operations to €37.8 million in 2025, while adjusted operating profit from its own operations improved to €1.6 million from a loss of €0.4 million. Earnings per share from continuing operations slipped to €0.15 from €0.18. The board proposed a dividend of €0.25 per share, up from €0.22, and expects revenue and adjusted operating profit to increase in 2026.
Modulight’s revenue rose 73% to €7.1 million in 2025, with EBITDA narrowing to a loss of €0.2 million from €4.8 million. The board proposed no dividend and gave no financial guidance for 2026.
