Valmet stock surged as much as 28.9% to €28.42 on Friday, hitting its highest intraday level since February 27. The move came after the Finnish process technology group posted Q2 results that cleared analyst estimates across nearly every key metric.
Net sales for April-June rose 6% to €1.32 billion, up from €1.24 billion a year earlier. That beat both the average analyst estimate of €1.24 billion and the highest individual forecast of €1.27 billion compiled by Vara Research.
Comparable EBITA came in at €152 million, a 6% increase from €143 million in the prior-year period. That topped the consensus average of €140 million and came in above the highest estimate of €150 million.
The Comparable EBITA margin held steady at 11.5%, matching the year-earlier period and coming in above the consensus average of 11.3%.
Valmet credited higher net sales and cost savings from its operating model renewal for driving the improvement.
Orders received fell 10% to €1.37 billion from €1.52 billion. While that is a decline, it still came in above the consensus average of €1.28 billion and within the forecast range.
The order drop was mainly driven by capital project intake in the Biomaterial Solutions and Services segment. Valmet noted that while orders decreased from the comparison period, they increased sequentially.
Earnings per share were €0.40, just below the consensus average of €0.42 but within the forecast range. Adjusted EPS came in at €0.47, ahead of the €0.45 consensus.
Profit for the period was €75 million, slightly below the consensus of €76.5 million but within the forecast range of €66 million to €93.2 million.
The bigger story may be the board’s announcement of a strategic review to evaluate separating Biomaterial Solutions and Services and Process Performance Solutions into two standalone companies, each listed on Nasdaq Helsinki.
Chair Pekka Vauramo said the board “will only proceed with a separation if we conclude after detailed analysis that separation is clearly in the best interests of our shareholders.”
No transaction is guaranteed. Valmet said it will provide an update no later than with its full-year 2026 results.
Valmet reiterated its full-year 2026 guidance, targeting net sales at 2025’s level of €5.2 billion and Comparable EBITA at or above the €620 million posted last year.
Valmet also confirmed a leadership change. Pia Aaltonen-Forsell has been appointed Chief Financial Officer, taking over from Katri Hokkanen, who will leave the role by the end of September 2026.
Aaltonen-Forsell joins from Finnair and will start no later than the end of January 2027.
The stock had closed at €22.04 on Thursday. Friday’s high of €28.42 remains below Valmet’s 52-week high of €32.15.
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