Brief: Consti Oyj Says Consti PLC Lowers Its Guidance For 2021 As A Result Of Arbitral Tribunal's Award

Consti Oyj

11/06/2021 18:14

June 11 (Reuters) - Consti Oyj  CONSTI.HE :
    * CONSTI PLC LOWERS ITS GUIDANCE FOR 2021 AS A RESULT OF
ARBITRAL
TRIBUNAL'S AWARD
    * ARBITRAL TRIBUNAL ORDERED KIINTEISTÖ OY YRJÖNKATU 13 TO
COMPENSATE CONSTI KORJAUSRAKENTAMINEN OY APPROXIMATELY EUR 0.7
MILLION
    * ARBITRAL TRIBUNAL ORDERED BOTH PARTIES TO BEAR THEIR OWN
LEGAL
COSTS RELATING TO PROCEEDINGS.
    * NET RECEIVABLE RELATED TO PROJECT IN CONSTI'S BALANCE
SHEET WAS
APPROXIMATELY EUR 3 MILLION AT END OF Q1 OF 2021
    * CONSTI WILL RECORD COSTS RELATED TO ARBITRAL AWARD IN ITS
RESULT
OF Q2 OF 2021
    * POSITIVE CASH FLOW IMPACT OF ARBITRAL AWARD FOR CONSTI IS
APPROXIMATELY EUR 2 MILLION
    * COMPANY ESTIMATES THAT ITS OPERATING RESULT FOR 2021 WILL
BE IN
RANGE OF EUR 4-8 MILLION

Source text for Eikon:  ID:nGNE8rzv4T 
Further company coverage:  CONSTI.HE 

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