Komplett, Kitron og Yara faller kraftig på Oslo Børs

Oslo Børs saw a significant drop as Komplett, Kitron, and Yara released their third-quarter results. The main index fell by 0.4 percent within hours of opening. Scatec reported a reduction in profit expectations for power generation by 300 million kroner, leading to a 18 percent drop in its share price. Meanwhile, energy prices sent oil stocks to new heights, with Equinor and Vår Energi reaching record levels, and Aker BP hitting an annual record.

Oil prices swung around $110 in recent days, rising on Thursday. Brent spot price stood at $111.7 at the time of writing, up 1.9 percent from yesterday's close and 1.9 percent higher than midnight levels. Gas prices also rose slightly from Wednesday afternoon. Overseas markets saw notable gains on Thursday, including Oslo and the Nasdaq index in the United States.

However, several Asian bourses experienced sharp declines the following morning. Komplett, an electronics retailer, reported a loss of 54 million kroner for the third quarter, with results affected by ongoing price pressures in memory modules and targeted sales initiatives. Yara's profit before tax fell to $267 million in the third quarter, down from $426 million a year earlier.

Despite increasing revenues to $4.48 billion, the company faced margin and supply challenges due to higher gas prices and fluctuating demand. Yara anticipates gas costs to rise by $450 million in Q4 and $445 million in the first quarter of the next year. Nordic Semiconductor, a Norwegian technology firm developing chips for wireless communication, reported a 235 million dollar revenue increase in the previous quarter, surpassing analyst expectations.

The company's gross margin held steady at around 53 percent, in line with its guidance of over 50 percent. Yara expects revenues between $215 million and $235 million in Q4, with gross margins expected to stay above 50 percent. Analyst Petter Kongslie from Sparebank 1 Markets believes the consensus estimates may be adjusted upward after the earnings surprise, potentially leading to a 3-5 percent positive reaction in the stock.

Kitron, another electronics supplier, saw a 59 percent revenue increase from the previous year in the third quarter, with profit before tax rising to 21.4 million euros from 12 million euros. The company noted strong growth in defense and aerospace sectors, with wider growth in Q4 compared to earlier periods.