Solidium Oy's half-year report for July-December 2022

• Solidium's return on equity holdings was 7.6 per cent for the six-month period and -9.0 per cent for the full calendar year 2022.
• Solidium's net asset value increased by EUR 0.2 billion and was EUR 7.4 billion at the end of the period.

Solidium's CEO Reima Rytsl's comments:

"The return on Solidium's equity holdings (7.6 per cent) was relatively good when considering the challenging environment. The share prices fluctuated a lot in the beginning of the review period, as the market's inflation and interest rate expectations changed. Towards the end of the year the stock market was in an uptrend as the reported inflation figures were somewhat lower compared to market expectations. Also, the companies' results were in general better than what the weakened economic sentiment and consumer confidence implied.

During the review period Solidium increased its stake in Nokian Tyres. The divestment of the operations in Russia and the investment into a new factory in Romania clarifies the company's direction and we believe it has good prospects for building the business on a new basis.