Nasdaq Helsinki

Ovaro's board has costed its IFRS reporting at €300,000 a year and asked shareholders to move down to First North, with the share still publicly traded. Days earlier, Innofactor's Sami Ensio put his own exit price at €700,000.

On 18 August, the board of Ovaro Kiinteistösijoitus Oyj proposed that shareholders move the company from Nasdaq Helsinki's regulated main market to First North Growth Market Finland, while it remains publicly traded. An extraordinary general meeting decides on 8 September. The same morning, Ovaro withdrew its 2026 guidance.

The saving is a fifth of last year's profit

The move lets Ovaro drop IFRS, mandatory on the main market, for Finnish FAS, which First North permits.

The board puts the savings at approximately €300,000 a year. CEO Marko Huttunen told Keskisuomalainen that is about 14% of the company's administrative costs.

Set that against the company. Ovaro's 2025 revenue was €4.288m, down from €5.262m in 2024, on a net result of €1.468m. The saving is roughly a fifth of last year's profit, at a company with four employees and an €80.4m balance sheet at 31 March 2026.

Innofactor's founder priced the same listing at €700,000, then left entirely

Three days before Ovaro's announcement, Talouselämä reported Sami Ensio, founder and chief executive of the software company Innofactor, estimating that operating as a listed company meant roughly €700,000 a year in additional costs, and naming regulation as a central reason for leaving the exchange. Innofactor left by the other door: Onni Bidco's tender offer took it private, the company applied for delisting on 31 March 2025, and the shares were listed for the last time on Nasdaq Helsinki on 25 April 2025.

The two figures are not like-for-like. Ensio's €700,000 is a chief executive's estimate of the full cost of being listed; Ovaro's €300,000 is a board's estimate of one line item, the switch from IFRS to FAS reporting.

Shares of Summa Defence slumped 32.6 percent to €0.55 in the afternoon after the Finnish defence technology company said negotiations related to a planned rights issue had ended without result, raising further concerns about the group’s liquidity position.

The decline leaves the stock down almost 80 percent since the start of the year. Shares traded still at €2.50 in early January but have fallen steadily as financing pressure and operational challenges have intensified.

In a company announcement today, Summa Defence said it continues to pursue alternative equity and debt financing solutions to strengthen its financial position. The company added that its liquidity position remains “extremely tight.”

The statement follows an earlier warning issued on May 13, when Summa Defence said its existing working capital would not be sufficient for the next 12 months without new financing or payment arrangements. At the time, the company estimated its current liquidity would cover roughly two months of operations if planned financing arrangements progressed as expected.

Rapala VMC, the Finnish fishing tackle maker, surged more than 20% shortly after reporting stronger first-quarter profitability and maintaining its outlook, sharply outperforming a weaker Helsinki market where the OMX Helsinki 25 index fell 0.35% in the afternoon. Marimekko also gained nearly 7%, while Qt Group rose modestly and Relais Group traded lower despite beating analyst expectations. Citycon is scheduled to publish its first-quarter report after the market close.

Rapala said first-quarter net sales rose 6% to EUR 69.5 million, or 13% at comparable exchange rates, while comparable operating profit increased 39% to EUR 7.8 million. Operating profit rose to EUR 7.7 million from EUR 6 million a year earlier.

CEO Cyrille Viellard said demand was supported by new product launches including the CrushCity Mooch Minnow and Claptail lures, as well as strong fill rates for seasonal retailer orders.

“A positive start to 2026 with 13% sales growth at comparable exchange rates, supported by exciting new product introductions and efficient supply chain execution,” Viellard said.

The company maintained guidance for full-year comparable operating profit to improve from 2025 despite continued geopolitical uncertainty and inflationary pressure on raw materials.

Marimekko, the Finnish lifestyle and textile design company, reported a 5% increase in first-quarter net sales to EUR 41.4 million, while comparable operating profit rose 19% to EUR 5.3 million. The company said growth was driven particularly by wholesale sales in Scandinavia and Finland, while international sales climbed 9%.

Kamux, Raisio and Outokumpu all reported first-quarter earnings today, with investors sending the Finnish used-car retailer sharply lower while lifting food products maker Raisio and pushing stainless steel producer Outokumpu slightly below the broader market. Kamux fell 5.5% in the afternoon, Outokumpu slipped 0.6% and Raisio gained 2.0%, compared with a 0.8% rise in the OMX Helsinki 25 index.

Kamux, the Finnish used-car retailer, reported an 11.8% drop in revenue to EUR 205.1 million in the January-March period as the number of cars sold declined 6.6% to 13,727 vehicles. Adjusted operating profit improved to a loss of EUR 1.0 million from a loss of EUR 1.9 million a year earlier, while gross profit per sold car rose 12.4% to EUR 1,386.

CEO Juha Kalliokoski said weak consumer confidence and higher energy and fuel costs continued to weigh on demand. “Competition remained fierce, and the purchasing market was also tight,” he said. Kamux maintained its guidance for adjusted operating profit to improve in 2026.

Raisio, the Finnish food products maker behind the Benecol and Elovena brands, posted improved profitability despite broadly flat sales. Comparable EBIT increased to EUR 7.5 million from EUR 6.1 million a year earlier, while comparable EBITDA rose to EUR 9.8 million from EUR 8.5 million. Net sales edged down 0.7% to EUR 57.5 million.

CEO Pasi Flinkman said the company had moved into “the phase of accelerating growth” after laying the groundwork last year. Growth in the Breakfast, Snacking & Food Solutions business, including an almost 11% increase in Elovena sales, supported earnings. Raisio reiterated its guidance for both net sales and comparable EBIT to increase in 2026.