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    NLG1V   FI0009900187

NURMINEN LOGISTICS OYJ

(NLG1V)
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Delayed Nasdaq Helsinki  -  05/24 11:29:41 am EDT
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Nurminen Logistics Oyj : Plc, NTEX AB and Stena Rederi, have signed a letter of intent to jointly increase their current co-operation and offer China container block train services

12/13/2021 | 04:26am EDT

Nurminen Logistics and NTEX see a huge potential and market demand for fast, reliable, and environmentally-friendly railway cargo services from China and Asia to Sweden and Norway and back.

The Parties, who already have an existing cooperation, will utilize Nurminen's Nordic HUB concept in the ports of Helsinki and Kotka during the first quarter and offer FCL and LCL services based on several connections from Finland to Scandinavia and Northern Europe. Utilizing each parties strengths, Nurminen and NTEX will jointly offer rail services as well as shipping connections, traffic, and customs clearance in the destination countries in Europe. Additional markets such as the Baltics and additional rail connections via Kaliningrad will also be explored.

Nurminen's CEO Olli Pohjanvirta says that Nurminen already has products of Swedish industrial groups on board in its cargo container trains from and back to China, Japan, South Korea. With closer co-operation with NTEX, a Stena Group company, Nurminen and NTEX can offer and rapidly produce the service needed to the Swedish, Norwegian, and Danish markets. We have together all the essential services, Know-how, locations in China and Nordics to take Sino-European rail traffic to the next level.

"We are very pleased to have found this opportunity to expand our Rail freight solution between Asia - Sweden and Norway as we see the growing demand from our customers for both faster and more environmentally sustainable logistics." NTEX´s CEO Thomas Ström says.

The cooperation is based on the market potential, which lays in the fact that trade in Northern-Europe with China is over 60 billion euro annually. The parties will utilize the railway land bridge, Nurminen and NTEX joint services, between the markets to serve their clients more effectively and meet the demand for environmental logistics.

More Information:

Marjut Linnajärvi, VP Sales, p. +358 40 571 5034

Nurminen Logisticsis a listed company established in 1886 that offers high-quality multimodal logistics services and is a leading train operator on the Asia-Scandinavia market.

NTEXis a Swedish transport and forwarding agent providing global sea freight, air freight, rail freight, and road transportations solution to Sweden, the UK, Norway, and continental Europe.

Stena Rederi,is a global shipping company providing innovative customer solutions for several segments including tankers, ferry operations and roro operations.

Disclaimer

Nurminen Logistics Oyj published this content on 13 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 December 2021 09:25:05 UTC.


© Publicnow 2021
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Financials
Sales 2022 134 M 144 M 144 M
Net income 2022 3,90 M 4,18 M 4,18 M
Net Debt 2022 28,8 M 30,9 M 30,9 M
P/E ratio 2022 19,2x
Yield 2022 2,08%
Capitalization 74,2 M 79,6 M 79,6 M
EV / Sales 2022 0,77x
EV / Sales 2023 0,66x
Nbr of Employees 140
Free-Float 40,6%
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Number of Analysts 1
Last Close Price 0,96 €
Average target price 1,25 €
Spread / Average Target 29,9%
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Managers and Directors
Olli Mikael Pohjanvirta Chairman & Chief Executive Officer
Iiris Pohjanpalo Chief Financial Officer
Tuomas Kansikas Chief Operating Officer
Petri Luurila Chief Investment Officer
Juha Nurminen Independent Director