Profit Warning: Lassila & Tikanoja updates its guidance for 2024. The operating profit is estimated to remain below the level of the previous year - the adjusted operating profit is estimated to be at the same level or better
Inside Information
Lassila & Tikanoja plc
1 August 2024, 5.30 pm
Profit Warning: Lassila & Tikanoja updates its guidance for 2024. The operating profit is estimated to remain below the level of the previous year - the adjusted operating profit is estimated to be at the same level or better
In autumn 2023, Lassila & Tikanoja decided, in connection with the strategy update, to evaluate the strategic alternatives for the Facility Services Finland and Facility Services Sweden divisions as part of the development of the business portfolio. The company announced on 16 May 2024 its plans to accelerate strategy execution. Lassila & Tikanoja intends to focus on its circular economy business.
Expenses related to these enhanced measures are now expected to affect the company's 2024 operating profit and the company estimates that its 2024 operating profit will remain below the level of the previous year.
These expenses are classified as items affecting comparability, and they do not affect the adjusted operating profit reported by the company. The expenses mainly consist of external advisory costs. The adjusted operating profit is estimated to be at the same level or better compared to the previous year. In previous years, the company has provided guidance with respect to net sales and adjusted operating profit and changes its 2024 guidance accordingly.
Updated outlook for the year 2024
Net sales in 2024 are estimated to be at the same level as in the previous year, and adjusted operating profit is estimated to be at the same level or better compared to the previous year.
Previously stated outlook for the year 2024
Net sales in 2024 are estimated to be at the same level as in the previous year, and operating profit is estimated to be at the same level or better compared to the previous year.
Lassila & Tikanoja plc announces its Half-year Financial Report for the period 1 January-30 June 2024 on 7 August 2024.
Lassila & Tikanoja plc
Eero Hautaniemi
President and CEO
For additional information, please contact:
Eero Hautaniemi, President and CEO, tel. +358 10 636 2810
Joni Sorsanen, CFO, tel. +358 50 443 3045
Lassila & Tikanoja is a service company that is putting the circular economy into practice. Together with our customers, we keep materials, manufacturing sites and properties in productive use for as long as possible and we enhance the use of raw materials and energy. This is to create more value with the circular economy for our customers, personnel and society in a broader sense. Achieving this also means growth in value for our shareholders. Our objective is to continuously grow our actions' carbon handprint, our positive effect on the climate. We assume our social responsibility by looking after the work ability of our personnel as well as offering jobs to those who are struggling to find employment, for example. With operations in Finland and Sweden, L&T employs approximately 8,160 people. Net sales in 2023 amounted to EUR 802.1 million. L&T is listed on Nasdaq Helsinki.
Distribution:
Nasdaq Helsinki
Major media
www.lt.fi/en/
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L&T - Lassila & Tikanoja Oyj