contentSlug

type

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slug

ContentPageContentQuery

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trendingContent

query ContentSlug_ContentQuery(
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) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
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  companies {
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    description
    pageUrl
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}

fragment ContentBasicInfo on Content {
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  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
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  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
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  imgUrl
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  isPremium
  authors {
    __typename
    name
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  companies {
    name
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  tags {
    name
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  ... on Video {
    liveTime
    videoUrl
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  ... on Webcast {
    liveTime
    videoUrl
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}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
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    type
    title
    isPremium
    lang
    htmlBody
    summary
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    tags {
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  ...TrendingContent_1jQ2Cn
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fragment ForumPosts on ForumPost {
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}

fragment KeyFigures_Content on Content {
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}

fragment PriceAndRecommendation_Content on Content {
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      priceData {
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}

fragment PublishingDetails on Content {
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  publishers {
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  authors {
    __typename
    id
    name
    slug
    imgUrl
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  ... on Video {
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  ... on Webcast {
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}

fragment Reactions on Content {
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}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
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}

fragment TrendingContent_1jQ2Cn on Query {
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    id
    title
    lang
    pageUrl
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    type
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    companies {
      squareLogoUrl
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    }
    authors {
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      imgUrl
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    }
    publishers {
      imgUrl
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}


correction-the-board-of-directors-of-norrhydro-group-plc-has-resolved-to-pay-a-return-of-capital

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Norrhydro Group operates in the industrial sector. The company specializes in the manufacture of hydraulic cylinders. In addition to its main operations, the company is engaged in research and development. Customers are found in various sectors, with the greatest concentration in the industrial sector. Norrhydro Group operates primarily in the Nordic region and has its headquarters in Finland.

Thanks @Yrjo_Trog_Norrhydro for the clarification. In the Q4’25 interview video below, at the “07:20 Financial position” mark, you indeed only described debt repayments on a general level before any potential distribution of profits. In other words, you certainly didn’t speak specifically about the convertible loan (VVK-laina), as I incorrectly recalled. https://www.inderes.fi/videos/norrhydro-q425-myyntipanostuksia-kasvun-tukemiseksi

It has never been stated that the convertible bond (VVK) must be paid off before dividend payments. Our priority remains on debt repayment despite this small capital return. Currently, the interest-bearing debt/EBITDA ratio is at approximately 3 and is continuously decreasing. The target level is 2, which should be achieved during the course of next year.

Thank you @Yrjo_Trog_Norrhydro for the response. It’s good that you reminded us that the convertible loan “can still be repaid prematurely, should the company wish to do so.” I recall hearing in a recent interview that the company’s priority is specifically the repayment of the convertible loan before the company returns to paying dividends (or capital repayments). In light of this recollection, the decisions made by the company’s Board of Directors on May 8th seem somewhat contradictory, or perhaps they aren’t. Perhaps you could clarify this matter one more time?

No new convertible loan was issued here; this was simply an amendment to the repayment terms of the existing loan. There are no changes in other respects. The convertible loan can still be repaid prematurely if the company so desires. This decision was made to seek a bit more flexibility for repayment given the current global situation, which is characterized by uncertainty.

Below are Inderes’ comments regarding the changes to the terms of the convertible bond.                   Inderes – 11 May 26              Norrhydro:  Vaihtovelkakirjan ehtomuutos tasaa takaisinmaksujen painetta -...    Velkakirjan 1,5 miljoonan euron takaisinmaksu jaksotetaan kolmelle vuodelle, mikä helpottaa yhtiön velkojen lyhennysohjelmaa kassavirran näkökulmasta.                             Below is Norrhydro’s stock exchange release from December 28, 2023, regarding the convertible bond, with excerpts highlighted in bold: "* An annual interest rate of ten (10) percent shall be paid on the convertible bond for the loan period. The annual interest falls due for payment every six (6) months from the date of withdrawal.*        The convertible bond and the related special rights entitling to shares have been offered for subscription, in deviation from the shareholders’ pre-emptive subscription rights, to four investors from whom the Company has received advance subscription commitments. The offering of the convertible bond and special rights deviates from the shareholders’ pre-emptive subscription rights because the special rights are granted in the form of loan units to finance the Company’s growth and the commercialization of new products. The deviation from the pre-emptive right is also influenced by the possibility to implement the arrangement on an accelerated schedule and the low arrangement costs. The Board of Directors therefore considers that there is a weighty financial reason for the Company to grant the special rights."                   norrhydro.com              MFN_loader_single                              In the Norrhydro stock exchange release below, dated May 8, 2024, at 1:30 PM, I unfortunately could not find justifications, let alone a weighty financial reason from the company’s perspective, as to why the board decided to change the terms of the convertible bond based on “advance consents given by the holders”.                   norrhydro.com              MFN_loader_single                              Could the Chairman of the Board, Juhani Kangas, or Board Member and CEO @Yrjo_Trog_Norrhydro explain with justification the weighty financial reason for the company to change the terms of the convertible bond? Surely the decision made by the company’s board an hour and a half later regarding the return of capital (see link below) isn’t the weighty financial reason?                   norrhydro.com              MFN_loader_single

Here are Antti’s thoughts on Norrhydro’s peculiar moves  Norrhydro’s Board of Directors has decided to pay a capital repayment of EUR 0.02 per share from the invested unrestricted equity fund, based on the EUR 0.04 distribution authorization given to the Board by the Annual General Meeting. Although the total capital repayment is small (approx. EUR 0.22 million), we consider it a questionable capital allocation decision given the price the company pays for its debt financing (e.g., the interest rate on the convertible loan is 10%). Against this background, we would have preferred to see the company focus on maximum debt repayment instead. We will add the capital repayment to our forecasts in connection with the next update.                   Inderes – 11 May 26              Norrhydro: Hallitus käyttää valtuutuksesta puolet 0,02 euron...    Hallitus palauttaa pääomaa 0,02 euroa osakkeelta, vaikka yhtiön vvk-lainan korko on peräti 10 prosenttia.

Paying 10% interest on loans feels quite irrational at the same time as dividends are being distributed. Even the return on equity (ROE) has been lower than the interest rate, at least in the recent past. In the forecasts, however, it is already at quite a good level. The company’s cash position hasn’t been particularly strong during the recent quarters either.

Norrhydro Group

Norrhydro Group | Company Release | May 13, 2026 at 17:00:00 EESTCorrection to the Company Announcement Published on 8 May 2026. The payment date of the return of capital has been changed from...

<div class="mfn-header mfn-header-finland">Norrhydro Group | Company Release | May 13, 2026 at 17:00:00 EEST</div><div class="mfn-correction">Correction to the Company Announcement Published on 8 May 2026. The payment date of the return of capital has been changed from the original schedule, as Euroclear Finland Oy requires a minimum of five banking days from the record date to execute the payment.</div><div class="mfn-body">The Board of Directors of Norrhydro Group Oyj has resolved, based on the authorization granted by the Annual General Meeting held on 24 March 2026, to return capital to shareholders from the Company’s reserve for invested unrestricted equity.The Board of Directors resolved that the return of capital shall amount to EUR 0.02 per share. Based on the current number of shares in the Company, the total amount of the return of capital amounts to EUR 221,722.38.The return of capital will be paid to shareholders who are registered in the Company’s shareholder register maintained by Euroclear Finland Oy on the record date, 18 May 2026. The payment date of the return of capital is 25 May 2026.The return of capital will be paid on all shares held in the Company. The amount of return of capital per share may change if the number of the Company’s shares changes prior to the record date.Further enquiries: Yrjö Trög&nbsp; CEO Norrhydro Group Oyj Tel. +358&nbsp;400&nbsp;291 229 <a href="mailto:yrjo.trog@norrhydro.com" rel="noopener">yrjo.trog@norrhydro.com</a>&nbsp; Certified Adviser: Translink Corporate Finance Oy &nbsp; Jari Lauriala, Managing Partner Tel. +358 40 091 8855 <a href="mailto:jari.lauriala@translinkcf.fi" rel="noopener">jari.lauriala@translinkcf.fi</a> &nbsp; &nbsp; Sami Miettinen, Partner Tel. +358 400 735 835 <a href="mailto:sami.miettinen@translinkcf.fi" rel="noopener">sami.miettinen@translinkcf.fi</a> &nbsp; &nbsp; Distribution: Nasdaq Helsinki Oy Key media <a href="https://www.norrhydro.com/fi" rel="noopener">https://www.norrhydro.com/</a>en</div><div class="mfn-footer mfn-about mfn-63f9d381ac43">About UsNorrhydro Group Plc in brief&nbsp; Norrhydro, founded in 1985, is a Finnish forerunner in motion control and a provider of energy-efficient hydraulic cylinders and system suppliers specialising in high-quality, customised and energy-efficient hydraulic cylinders and demanding linear motion control systems and mobile equipment. The company has 40 years of experience in developing and manufacturing customised hydraulic cylinders and liners motion control systems for the most demanding conditions and environments. In 2025, the company generated revenues of EUR 28.7 million, EBITDA of EUR 2.7 million and operating profit of EUR 1.4 million.&nbsp;</div>