Nurminen Logistics Oyj

Nurminen Logistics Plc announced that its Cargo and Multimodal Forwarding businesses will be integrated into the railway business, ending their independent reporting. The company aims to enhance operational efficiency and develop more comprehensive service offerings. As part of this restructuring, Joonas Louho, VP of Cargo Operations & Development, will leave the company. CEO Olli Pohjanvirta expressed gratitude for Louho's contributions and wished him well in his future endeavors. Further details can be obtained from Olli Pohjanvirta, CEO of Nurminen Logistics Plc.

Nurminen Logistics Plc has announced the acquisition of the entire share capital of Swedish logistics company Essinge Rail AB. This move is part of Nurminen's strategy to expand its railway operations between the Nordic countries and Continental Europe, targeting industrial, technology, and commercial sectors. Essinge Rail AB specializes in international rail logistics, handling approximately 4,500 freight wagons annually and operates a railway terminal in Fröv, Sweden. The acquisition, valued at 150 MSEK, will be paid partly in cash and partly in Nurminen Logistics shares, with the closing expected in December 2024, pending regulatory approval. Essinge Rail AB will continue operating under its current name, and the acquisition will not affect its employees. Nurminen's CEO, Olli Pohjanvirta, highlighted that the acquisition strengthens their railway business and aligns with their growth strategy, enhancing their service offerings and competitive position in Northern Europe. The acquisition aims to increase Nurminen's market share and customer base while reducing its reliance on Finland's foreign trade.

Nurminen Logistics Plc announced that its board of directors, authorized by the annual general meeting, has approved an equity repayment of EUR 0.04 per share for its 78,213,164 shares, totaling EUR 3,128,526.56. The ex-date is set for November 11, 2024, the record date for November 12, 2024, and the payment date for November 19, 2024. Payments will be made in whole euro cents, rounded down. Nurminen Logistics, a Finnish company established in 1886, provides rail transport, terminal, and multimodal solutions between Asia and Europe and in the Nordic and Baltic regions. For further details, contact Olli Pohjanvirta, President and CEO.

Nurminen Logistics Services Oy has acquired ILP-Group Logistics Oy, a logistics company based in Vantaa and Espoo, which has been in operation since 1994. ILP-Group specializes in warehousing, sea, air, and road transport, and forwarding, with a projected revenue of EUR 4.5 million for 2024. This acquisition enhances Nurminen's terminal operations in Finland and broadens its service offerings. Joonas Louho, Vice President of Cargo, stated that ILP-Group's expertise and customer base will complement Nurminen's Cargo business and align with its strategic goals. The integration is expected to strengthen Nurminen's market position and create new opportunities. Nurminen Logistics, founded in 1886, provides rail transport, terminal, and multimodal solutions across Asia, Europe, and the Nordic and Baltic regions.

Nurminen Logistics reported a decrease in net sales for Q3 2024 to EUR 24.2 million, down 34.1% from the previous year but up from Q2 2024. Despite challenging market conditions, the company achieved a strong comparable operating profit margin of 23.3%. The Railway business saw a 21.6% increase in net sales, while the Cargo business experienced a decline due to the weak Finnish economy. The Baltic operations were significantly impacted by the Red Sea crisis, leading to a decline in net sales. Overall, the company's financial performance improved, with a strengthened balance sheet and increased equity ratio. The company maintains its financial guidance for 2024, expecting lower net sales and comparable operating profit than in 2023. Nurminen Logistics continues to focus on international growth in rail traffic and promoting sustainable transport solutions.