Wednesday, November 28, 2012

Helsinki Top 10

I use a service provided by via Pörssisäätiö to screen stocks listed in NASDAQ OMX Helsinki. Currently the results of my personalized screen look like this:

Rank Company (Score)
#1 Technopolis (2,9)
#2 Citycon (2,8)
>>#3 Fortum (2,7)
>>#4 Orion (2,6)
#5 Sponda (2,6)
#6 Nokian Renkaat (2,5)
#7 Okmetic (2,4)
#8 PKC Group (2,4)
#9 Ponsse (2,3)
>>#10 TeliaSonera (2,3)

>>#23 UPM (2,0)
>>#79 Nokia (1,0)

Parameters used in screen (weight):
P/B 2012 (15%)
P/E 2011, 2012 (5%,5%)
Dividend yield 2011, 2012 (5%,10%)
ROA 2011 (10%)
ROI 3 year average (5%)
ROE 3 year average (5%)
Turnover increase in past 3 years, 2012 (10%)
Gross Margin (10%)
Profit Margin (10%)
Net Profit increase in past 5 years, 2013 (10%)

Our positions are marked with prefix ">>".

Fortum and Orion are value plays with attractive dividend yield. Besides these two, all others in top 5 are property investment companies. So far I haven't initiated any positions in them. They all seem to have quite different focus within Finnish property market. I haven't yet made up my mind which would be the most interesting one for me to consider.

Our positions outside of Top 10 are UPM and Nokia. UPM is mostly value play with low P/B and attractive dividend yield. Their main business is suffering from declining fine paper usage, but they do have also substantial energy business and vast forest holdings.

Nokia, well, does not probably need any introduction. Like UPM their main business is suffering and the whole company can be considered part value play (due to businesses other than smartphones) and turnaround bet (smartphones).

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