Nurminen Logistics subsidiary North Rail Holding Oy and Operail Holding OÜ have signed a deed of sale in which the parties have agreed that Operail Finland Oy will be transferred to the ownership of North Rail Holding after the necessary official decisions, Nurminen Logistics is told. The debt-free purchase price is EUR 27.7 million. Nurminen Logistics owns 79.8 percent of the subsidiary North Rail Holding and the investors 20.2 percent.
The purchase of Operail Finland Oy supports the development of Nurminen Logistics’ railway business in Finland and opens up new cooperation opportunities with Nordic and Central European railway operators, the company says. In addition, the company’s purchase ensures the development of Nurminen Logistics’ rail traffic between Finland and Asia in the future as well.
Nurminen Logistics says that, if realized, the purchase of Operail Finland Oy and its operations in Finland will significantly increase the turnover and operating profit of the Nurminen Logistics Group starting in 2023.
In accordance with the financial guidelines issued on November 15, 2022, the net sales for 2022 will be at the level of 121-125 million euros, and the comparable operating profit margin at the level of 4-7 percent, the company says.
Nurminen Logistics will provide more detailed financial guidance during the first quarter, when the company’s ownership and management of operations has been transferred to Nurminen Logistics.
In the afternoon, Nurminen Logistics’ share was up about 24 percent.
The story was updated at 14:21 after Nurminen Logistics published the purchase price.