Brief: Lehto Group Q3 Operating Loss Narrows To EUR 2.6 Million

Lehto Oyj

12/11/2020 06:05

Nov 12 (Reuters) - Lehto Group Oyj  LEHTO.HE :
    * Q3 OPERATING LOSS EUR 2.6 MILLION VERSUS LOSS EUR 14.4
MILLION
YEAR AGO
    * Q3 NET SALES EUR 120.4 MILLION VERSUS EUR 151.5 MILLION
YEAR AGO
    * LEHTO ESTIMATES THAT ITS FOURTH-QUARTER NET SALES WILL
AMOUNT TO
ABOUT EUR 150-170 MILLION AND THAT OPERATING RESULT FOR QUARTER
WILL BE POSITIVE
    * ESTIMATES THAT SIGNIFICANT UNCERTAINTIES AFFECTING NET
SALES AND
OPERATING PROFIT IN LAST QUARTER OF THIS YEAR ARE IDENTIFIABLE
    * COMPANY WILL SEEK NET SALES GROWTH AND FURTHER IMPROVEMENT
IN
PROFITABILITY IN 2022 - 2023
    * LONG-TERM FINANCIAL OBJECTIVES THAT EXTEND BEYOND CURRENT
STRATEGIC PERIOD: AVERAGE ANNUAL NET SALES GROWTH 10-20%
    * LONG-TERM FINANCIAL OBJECTIVES THAT EXTEND BEYOND CURRENT
STRATEGIC PERIOD: AVERAGE OPERATING PROFIT APPROXIMATELY 10% OF
NET SALES
    * IN BEGINNING OF STRATEGIC PERIOD ENDING IN 2023, COMPANY
WILL
NOT PURSUE GROWTH IN NET SALES, BUT WILL INSTEAD CONCENTRATE ON
IMPROVING PROFITABILITY.
    * FINANCIAL OBJECTIVES THAT EXTEND BEYOND CURRENT STRATEGIC
PERIOD: EQUITY RATIO AT LEAST 35% (EXCLUDING. IFRS 16 LEASE
LIABILITIES)
    * ESTIMATES THAT COMPANY'S NET SALES AND OPERATING PROFIT
WILL BE
LOWER THAN LONG-TERM TARGETS DURING STRATEGIC PERIOD ENDING IN
2023
    * FINANCIAL OBJECTIVES THAT EXTEND BEYOND CURRENT STRATEGIC
PERIOD:  DISTRIBUTION OF DIVIDENDS APPROXIMATELY 30-50% OF
RESULT OF FY

Source text for Eikon:  ID:nWkr798w33 
Further company coverage:  LEHTO.HE 

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