Spinnova Oyj First Half 2024 Earnings: Misses Expectations

Spinnova Oyj (HEL:SPINN) First Half 2024 Results

Key Financial Results

• Net loss: €9.15m (loss narrowed by 13% from 1H 2023).
• €0.17 loss per share (improved from €0.20 loss in 1H 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Spinnova Oyj Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 40%. Earnings per share (EPS) also missed analyst estimates by 12%.

Looking ahead, revenue is expected to decline by 31% p.a. on average during the next 3 years, while revenues in the Luxury industry in Europe are expected to grow by 7.5%.

Performance of the market in Finland.

The company's shares are down 3.8% from a week ago.

Risk Analysis

Be aware that Spinnova Oyj is showing 2 warning signs in our investment analysis that you should know about...

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.