Brief: Rapala Says 2023 Remains Challenging

Rapala VMC Oyj

20/07/2023 15:17

July 20 (Reuters) - Rapala VMC Oyj  RAP1V.HE :
    * H1 NET SALES WERE 117.9 MEUR, DOWN 21% FROM PREVIOUS YEAR
    * H1 OPERATING PROFIT WAS 4.4 MEUR (13.6)
    * REPEATS SHORT-TERM OUTLOOK WAS CHANGED ON JUNE 30, 2023
    * SEES DESTOCKING TO GRADUALLY EASE IN LATTER HALF OF YEAR,
BUT
STILL HAVE IMPACT ON WINTER AND ICE BUSINESSES
    * PRE-SALES OF WINTER BUSINESS FOR UPCOMING SEASON HAVE
FALLEN
SHORT OF EXPECTATIONS
    * 2023 REMAINS CHALLENGING
    * COST SAVINGS  MEASURES SEEN TO YIELD REDUCTION OF 6
MILLION
EUROS IN FIXED COSTS IN NEXT COMING 12 MONTHS
    * IMPLEMENTED INVENTORY REDUCTION PLAN AIMED AT REDUCING
INVENTORIES BY 25%

Source text for Eikon:  ID:nGNE1cDh0Y 
Further company coverage:  RAP1V.HE 

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