Finland's Spinnova H1 revenue rises, operating loss narrows

Spinnova Oyj

31/08/2026 06:42

Overview
Finland textile material innovator's H1 revenue rose yr/yr as test runs and partnerships advanced
Operating loss narrowed, mainly due to absence of prior year's impairment charge
Company announced intention to pursue U.S. IPO and Nasdaq dual listing after period end

Outlook
Spinnova will not give financial guidance for 2026
Company says commercial demand for SPINNOVA fibre exceeds current capacity
Company expects to continue test runs and prepare for broader production ramp-up in autumn

Result Drivers
WOODSPIN DEMO PLANT - Co said test runs at Woodspin demonstration plant validated production concepts and improved fibre quality
ECOSYSTEM EXPANSION - Co expanded ecosystem with new partners to support fibre scale-up and commercial adoption

Company press release: ID:nMFN7h4kH5

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
EUR 286,000
 
H1 Adjusted Loss Per Share
 
EUR 0.13
 
H1 Net Loss
 
EUR 6.93 mln
 
H1 EBIT
 
-EUR 6.89 mln
 

Analyst Coverage
The one available analyst rating on the shares is "sell"
The average consensus recommendation for the specialty chemicals peer group is "buy."
Wall Street's median 12-month price target for Spinnova Oyj is €0.45, about 4.7% below its August 28 closing price of €0.47

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Aug 28 - Finland's Digitalist Group Q2 revenue falls on weak demand

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)