Nurminen Logistics Oyj

Nurminen Logistics Plc announced that the change negotiations of its Finnish subsidiary, Nurminen Logistics Services Oy, have concluded. These negotiations involved the potential termination or significant reduction of terminal operations in Vainikkala and the reorganization of forwarding operations in Kotka. Additionally, the merging of overlapping roles was considered. As a result, 11 employees will be terminated, and the Vainikkala terminal will shift to a project-based model. For more information, contact Olli Pohjanvirta, President and CEO. Nurminen Logistics is a Finnish company offering rail transport, terminal, and multimodal solutions between Asia and Europe, and in the Nordic and Baltic regions.

Nurminen Logistics Plc announced that Niklas Nordström (LL.M.) has been appointed as the new CFO and member of the management team effective January 1, 2025. He will report to CEO Olli Pohjanvirta. Nordström is currently the CFO of Futurice Oy and has previously served as CFO of SSH Communications Security Plc and Biohit Plc. The current CFO, Kai Simberg, will remain in his position until December 31, 2024, after which he will retire. Nurminen Logistics is a Finnish company specializing in rail transport, terminal, and multimodal solutions between Asia and Europe, as well as in the Nordic and Baltic regions. For more information, contact Olli Pohjanvirta at +358 40 900 6977 or olli.pohjanvirta@nurminenlogistics.com.

Nurminen Logistics Plc announced the appointment of M.A. Tiina Ylikahri as Director of Communications and Sustainability, a newly created position, effective August 2024. She will report to CEO Olli Pohjanvirta and will oversee the company's communications and sustainability initiatives. Ylikahri has been with Nurminen Logistics since 2020, previously serving as Communications and Marketing Manager. CEO Pohjanvirta emphasized the strategic importance of sustainability for the company and praised Ylikahri's expertise and familiarity with the business. Ylikahri expressed enthusiasm for developing sustainable logistics solutions. Nurminen Logistics is a Finnish company specializing in rail transport and multimodal solutions between Asia, Europe, the Nordic countries, and the Baltic countries.

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.