Hennes & Mauritz reported a drop in second-quarter profit, citing higher purchasing costs and unfavorable currency movements, but said it expects these headwinds to reverse in the second half of the year. The Swedish fashion retailer said operating profit for the three months ended May 31 fell to 5.91 billion Swedish kronor, down from 7.10 billion kronor in the same period last year.
Volvo's construction equipment unit is selling its majority stake in its Chinese joint venture, Shandong Lingong Construction Machinery Co., for 8 billion Swedish Kronor, marking a significant shift in its strategy for the country. The company said Tuesday it will sell its 70% holding in the business, known as SDLG, to a fund predominantly owned by its minority partner, Lingong Group.
Swedish property group Castellum will hold an extraordinary general meeting on July 18 for shareholders to vote on a significant board overhaul pushed by its largest investor, Akelius Apartments. The company's nomination committee has formally proposed Akelius CEO Ralf Spann to be the new chairman of the board.
France plans to purchase GlobalEye advanced surveillance aircraft from Swedish defense company Saab, the company announced Wednesday. France's defense procurement agency and Saab signed a declaration of intent at the Paris Air Show for an initial two aircraft, with an option for two more.
Swedish industrial group Atlas Copco has announced three acquisitions in less than a week, expanding its global compressor business with deals in Spain, South Korea, and the United States. The latest deal, announced Tuesday, is for Spanish manufacturer Arizaga Bastarrica y Compañia S.A., also known as ABC Compressors.
Swedish investment firm EQT AB has set a target of 23 billion euros for its latest flagship private equity fund, EQT XI. The target for the new fund is larger than its predecessor, EQT X, which had a target of 20 billion euros.
Swedish property company Castellum's nomination committee has proposed Ralf Spann, the chief executive of its largest shareholder Akelius Residential Property, as its new chairman. The proposal will be voted on at an Extraordinary General Meeting on July 18, which Akelius had demanded in order to overhaul the company's board.
Swedish property company Castellum AB said Tuesday it has agreed to acquire five properties from Corem for 1.74 billion Swedish kronor, pressing ahead with its expansion strategy amid significant boardroom turmoil. The deal for the office and hotel properties in Uppsala, Örebro, and Linköping comes just weeks after its largest shareholder, Akelius Apartments Ltd, forced an extraordinary general meeting to overhaul the board.
Swedish steelmaker SSAB is postponing the start of its new fossil-free steel mill in Luleå by one year, citing delays in reinforcing the local power grid. The company said Wednesday that the planned commissioning of the new plant will be moved to the end of 2029 from its original target of late 2028.
Private-equity firm Altor has sold 26 million shares in Finnish financial services group Mandatum for approximately 137 million euros, according to a regulatory filing. The transaction, conducted on Tuesday by Altor Invest 8 AS, was priced at 5.25 euros per share.
Finnish insurer Sampo said Wednesday it has appointed Morten Thorsrud as its new group chief executive, succeeding Torbjörn Magnusson, who will retire. The change will be effective Oct. 1, with Mr. Magnusson remaining as a senior advisor until the end of the year, the company said.
A European Medicines Agency panel recommended expanding the use of a prostate cancer drug from Orion and its partner Bayer, moving the blockbuster treatment a step closer to a third approval in the region. The agency's Committee for Medicinal Products for Human Use issued a positive opinion for darolutamide, sold as Nubeqa, to be used with androgen deprivation therapy for patients with metastatic hormone-sensitive prostate cancer, the companies said.
Fitch Ratings upgraded Fortum's long-term credit rating to BBB+ from BBB, citing the Finnish energy company's improved financial strength and sustained reduction in debt. The upgrade reflects Fortum's de-leveraging path since 2023 and Fitch's expectation that its leverage will remain low despite low power prices in the Nordics, the company said Tuesday.
Stora Enso is considering spinning off its Swedish forest assets into a separately listed company as it sharpens its focus on renewable packaging. The Finnish-Swedish company said Wednesday it has initiated a strategic review that includes a potential partial demerger of the assets.
Nokia said Monday it has appointed David Heard, the former chief executive of Infinera, as the new president of its Network Infrastructure business group, effective July 1. Heard joined the Finnish telecommunications equipment maker following its acquisition of optical networking company Infinera in February 2025 and will succeed Federico Guillén, who is set to retire at the end of the year.
Danish drugmaker ALK said its adrenaline nasal spray for treating severe allergic reactions produced a response comparable to an adrenaline injection, according to data presented at a European medical conference. The company presented findings on its EURneffy nasal spray, designed for the emergency treatment of anaphylaxis, at the European Academy of Allergy and Clinical Immunology congress on Monday.
Zealand Pharma on Wednesday reported positive results from a mid-stage study of its experimental obesity drug, dapiglutide, showing an average body weight reduction of 11.6% over 28 weeks. The result from the Phase 1b trial compares with a 0.2% weight decrease in participants who received a placebo, the Danish biotechnology company said.
Genmab said its cancer drug epcoritamab, when used in a combination therapy, helped a majority of patients with a hard-to-treat lymphoma become eligible for a potentially curative stem cell transplant. In a mid-stage trial, the treatment showed an 87% overall response rate and a 65% complete response rate in patients with relapsed or refractory diffuse large B-cell lymphoma, or DLBCL, the company announced Sunday.
Danish engineering group FLSmidth & Co. has agreed to sell its Cement business to an affiliate of private equity firm Pacific Avenue Capital Partners, completing its transformation into a company focused solely on the mining industry. The company said the deal has an initial enterprise value of 75 million euros, with a potential additional payment of up to 75 million euros conditional upon achieving certain objectives.
Danish engineering group FLSmidth & Co. has agreed to sell its Cement business to an affiliate of private equity firm Pacific Avenue Capital Partners, completing its transformation into a company focused solely on the mining industry. The company said the deal has an initial value of 75 million euros, with a potential additional payment of up to 75 million euros.
Danish engineering company FLSmidth & Co. on Friday announced a share buyback program of up to 1.4 billion Danish kroner, its first such program since 2012. The move follows the company's announcement earlier Friday that it had agreed to sell its Cement business to an affiliate of private equity firm Pacific Avenue Capital Partners, transforming FLSmidth into a pure-play supplier for the mining industry.
Danish vaccine company Bavarian Nordic has entered an agreement to sell a Priority Review Voucher for a total of $160 million, the company said Wednesday. The voucher, which entitles its holder to an expedited U.S. Food and Drug Administration review for a new drug application, was awarded to Bavarian Nordic in February 2025.
Novo Nordisk said Thursday it will advance both injectable and oral versions of its experimental obesity drug, amycretin, into late-stage Phase 3 clinical trials. The decision follows feedback from regulatory authorities after the completion of earlier-stage studies for the weight-management treatment, according to the company.
A consortium led by private equity firm EQT has called for an extraordinary general meeting to replace the board of Swedish software company Fortnox, following the completion of its takeover offer. The meeting, requested by the bidder Omega II AB, will be held on July 9, according to a company filing on Wednesday.
Swedish construction company Skanska AB has secured three new U.S. contracts this week with a combined value of $612 million. The company said the value of all three projects will be included in its U.S. order bookings for the second quarter of 2025.
Sweco AB has won a multi-year contract from Germany's national railway, Deutsche Bahn, to oversee a major expansion of Munich's commuter rail system, the company said Wednesday. The contract, which begins in May 2025, will run for about 4.5 years and includes an option for a five-year extension, according to the announcement.
Swedish construction company Skanska AB announced it has secured two U.S. contracts totaling $514 million for a bridge replacement in Massachusetts and a new university building in Virginia. The company said the value of both projects will be included in its U.S. order bookings for the second quarter of 2025.
Embracer Group announced its co-founder Lars Wingefors will step down as CEO as part of a major strategic overhaul that will see the video game holding company split into three separate entities. Phil Rogers, the current deputy CEO, will take over the chief executive role effective August 1, 2025, the company said Tuesday.
Swedish technology group Lagercrantz Group AB announced Tuesday it has acquired 100% of the shares in Epoke A/S, a Danish manufacturer of winter road maintenance equipment. Epoke generates annual revenues of approximately 240 million Danish Kroner with good profitability, Lagercrantz said in a statement.
Swedish construction company Skanska AB announced Tuesday it has secured two U.S. contracts totaling $514 million for a bridge replacement in Massachusetts and a new university building in Virginia. The company said the value of both projects will be included in its U.S. order bookings for the second quarter of 2025.
Danish hearing-aid maker Demant A/S said Wednesday it has agreed to acquire German retailer KIND Group for 700 million Euros in its largest-ever deal, significantly expanding its footprint in one of the world's biggest hearing care markets. The acquisition will add around 650 hearing care clinics, mostly in Germany, bringing Demant's global retail network to more than 4,500 clinics, the company said.