More big Finnish companies announced brisk second-quarter sales on Thursday.

Wireless and fixed-network equipment manufacturer Nokia reported comparable operating profit of 714 million euros in the April-to-June period, up from 682 million euros during the same time last year. Turnover rose to 5.87 billion euros in the second quarter, compared to 5.31 billion a year earlier.

Profits exceeded analysts' expectations, due to strong demand for 5G technology from phone operators and improved competitiveness of Nokia's main business units, Networks and Network Infrastructure.

Nokia CEO Pekka Lundmark expressed satisfaction with the strong result of the second quarter, adding that Nokia expects competition in the networking sector to remain intense. The Espoo-based firm's main rivals are Sweden's Ericsson, China's Huawei and South Korea's Samsung.

"Our continuing investments in technology leadership and competitiveness are showing results. We are confident that we will deliver growth on a full-year basis this year," Lundmark said in a video message.

Lundmark took over at Nokia in 2020 after five years at the helm of energy utility Fortum - during which time the energy firm began its controversial purchase of a majority stake in German energy firm Uniper, which is now in dire financial straits.

UPM posts highest-ever profit

Meanwhile, forest products company UPM posted record profits from the spring quarter.

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CEO Jussi Pesonen said that a record result is expected for the entire current year as well.

In the April-June period, comparable operating profit climbed to 387 million euros from 307 million euros a year earlier. Turnover was around 2.56 billion euros.

"UPM delivered record Q2 earnings driven by successful margin management in exceptionally tight markets for our products. All our businesses reported strong earnings amidst a volatile environment of rapid inflation in input costs and challenging supply and logistics chains. In addition, customer deliveries from our Finnish mills started smoothly after the end of the strike in late April," Pesonen said in a statement.

Wärtsilä completes pull-out from Russia

Engineering giant Wärtsilä also announced rising profits on brisk sales and orders during the second quarter of the year.

Comparable operating profit increased to 85 million euros in April-June from 71 million last year. Turnover was 1.4 billion euros, up by a quarter compared to a year earlier. Order intake also increased in the quarter, likewise to 1.4 billion.

Wärtsilä said that it has completed its withdrawal from the Russian market. The company says it has launched a new R&D unit outside of Russia to ensure that commitments to customers are fulfilled without interruption.