Brief: Lassila & Tikanoja PLC Lowers Its Guidance For 2020

Luotea Oyj

24/04/2020 06:06

April 24 (Reuters) - Lassila & Tikanoja Oyj  LAT1V.HE :
    * REG-PROFIT WARNING: LASSILA & TIKANOJA PLC LOWERS ITS GUIDANCE FOR 2020 DUE TO THE
SHUTDOWN OF
RUSSIAN OPERATIONS AND THE CORONAVIRUS EPIDEMIC
    * LASSILA & TIKANOJA OYJ - ON CORONAVIRUS: LASSILA & TIKANOJA PLC LOWERS ITS GUIDANCE FOR
2020 DUE
TO SHUTDOWN OF RUSSIAN OPERATIONS AND CORONAVIRUS EPIDEMIC
    * LASSILA & TIKANOJA OYJ - FULL-YEAR NET SALES FOR 2020 ARE EXPECTED TO DECREASE
YEAR-ON-YEAR AND
OPERATING PROFIT IS ESTIMATED TO BE EUR 30-40 MILLION (40.5) EXCLUDING LOSS RELATED TO
DISCONTINUATION OF RUSSIAN OPERATIONS
    * LASSILA & TIKANOJA OYJ - CORONAVIRUS EPIDEMIC HAS THUS NOT SO FAR AFFECTED LASSILA &
TIKANOJA'S
CAPACITY TO DELIVER SERVICES TO ITS CUSTOMERS.
    * LASSILA & TIKANOJA OYJ - CORONAVIRUS EPIDEMIC IS ESTIMATED TO HAVE A NEGATIVE EFFECT ON
NET
SALES AND OPERATING PROFIT OF ALL OF LASSILA & TIKANOJA'S BUSINESS SEGMENTS, WITH IMPACTS
FALLING ESPECIALLY ON Q2.
    * LASSILA & TIKANOJA OYJ - ACCORDING TO PRELIMINARY FIGURES, LASSILA & TIKANOJA'S NET SALES
FOR Q1
OF 2020 AMOUNTED TO EUR 184.4 MILLION (198.8)
    * LASSILA & TIKANOJA OYJ - COMPANY'S LONG-TERM FINANCIAL TARGETS REMAIN UNCHANGED.
    * LASSILA & TIKANOJA OYJ - DECLINE IN NET SALES WAS ATTRIBUTABLE TO DIVESTMENT OF L&T
KORJAUSRAKENTAMINEN IN PREVIOUS FINANCIAL YEAR, WITH ITS BUSINESS INCLUDED IN COMPARISON
FIGURES, AND EFFECTS OF CORONAVIRUS EPIDEMIC TOWARDS END OF QUARTER
    * LASSILA & TIKANOJA OYJ - Q1 PRELIMINARY OPERATING PROFIT WAS EUR 2.9 MILLION, WHICH WAS
SUBSTANTIALLY HIGHER THAN IN COMPARISON PERIOD (0.7)
    * LASSILA & TIKANOJA OYJ - INCREASE IN OPERATING PROFIT WAS MAINLY DUE TO IMPROVED FINANCIAL
PERFORMANCE OF FACILITY SERVICES FINLAND
    * LASSILA & TIKANOJA OYJ - NET CASH FLOW FROM OPERATING ACTIVITIES AMOUNTING TO EUR 19.4
MILLION
(22.4), COMPANY'S LIQUIDITY POSITION REMAINED STRONG IN Q1.
    * LASSILA & TIKANOJA OYJ - COMPANY'S LONG-TERM FINANCIAL TARGETS REMAIN UNCHANGED.

Source text for Eikon:  ID:nGNE1M0M6 
Further company coverage:  LAT1V.HE 

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