Nurminen Logistics Oyj

Nurminen Logistics Plc announced that it will begin change negotiations in its Finnish subsidiary, Nurminen Logistics Services Oy, regarding the potential closure or significant reduction of terminal operations in Vainikkala and the reorganization of forwarding operations in Kotka. The company is also considering merging overlapping roles. These measures will involve 18 employees, with a preliminary estimate indicating that up to 14 employees may face dismissal. The negotiations aim to enhance operational efficiency in line with the company's strategic objectives. For further information, contact CEO Olli Pohjanvirta.

Nurminen Logistics Plc released its Half-Year Financial Report for January-June 2024 on August 1, 2024. Key points include a comparable operating profit of EUR 4.0 million for the second quarter, maintaining a high level of 17.5% despite declines in Baltic volumes, political strikes, and maintenance shutdowns in Finland. Net sales for the second quarter were EUR 22.5 million, a 28.8% decrease year-on-year, while the first half of 2024 saw net sales of EUR 57.7 million, a 2% increase from the previous year. The company adjusted its financial guidance, predicting lower net sales and comparable operating profit for 2024 compared to 2023, due to a significant decline in Baltic volumes caused by the prolonged Red Sea crisis. Nurminen expects volumes to return to sea routes once the Suez Canal reopens for container traffic and anticipates increased volumes in non-Baltic businesses. The company highlighted the launch of new rail routes in Sweden, which should strengthen its position and increase volumes. Despite challenges, Nurminen achieved a high relative operating profit and good operating cash flow in Q2. The company also announced a property sale in June, expected to improve its balance sheet and strategic flexibility. Short-term risks include potential impacts from weakened world trade, Finnish exports and imports, geopolitical tensions, and high inflation. However, the company's balance sheet and cost structure are deemed resilient to rapid market changes. Nurminen remains optimistic about growth prospects, particularly in railway transport, supported by international economic growth and Finland's foreign trade upturn. The company expects positive developments in relative profitability and increased use of rail services due to their low environmental impact.

Nurminen Logistics Plc issued a stock exchange release on July 23, 2024, correcting an error in a previous release regarding the date of share transfers to the Board of Directors. The correct transfer date of 85,309 shares is July 23, 2024, not July 23, 2023. For further information, contact Olli Pohjanvirta, President and CEO. Nurminen Logistics, established in 1886, provides rail transport, terminal, and multimodal solutions between Asia and Europe and in the Nordic and Baltic countries.

Nurminen Logistics Plc released a stock exchange notice on July 23, 2024, at 11:00 a.m. regarding an initial notification for Erja Sankari, a member of the Board/Deputy member. The notification pertains to the receipt of a share-based incentive involving 14,218 shares with a unit price of 0 EUR. For further details, contact Olli Pohjanvirta, President and CEO, at +358 40 900 6977 or olli.pohjanvirta@nurminenlogistics.com. Nurminen Logistics, established in 1886, provides rail transport, terminal, and multimodal solutions between Asia, Europe, and the Nordic and Baltic countries.

Nurminen Logistics Plc released a stock exchange notification on July 23, 2024, at 11:00 a.m. Olli Pohjanvirta, a member of the Board and Deputy member, received a share-based incentive. The transaction, dated July 23, 2024, involved 14,219 shares at a unit price of 0 EUR. For more information, Olli Pohjanvirta, President and CEO, can be contacted. The notification was distributed to Nasdaq Helsinki, major media, and is available on nurminenlogistics.com. Nurminen Logistics, established in 1886, specializes in rail transport, terminal, and multimodal solutions between Asia and Europe and in the Nordic and Baltic regions.