Brief: Uponor Maintains FY Guidance

Uponor Oyj

25/10/2023 07:13

Oct 25 (Reuters) - Uponor Oyj  UPONOR.HE :
    * INTERIM REPORT JANUARY–SEPTEMBER 2023: CONTINUOUS STRONG
MARGIN
IN A VOLATILE MARKET
    * UPONOR KEEPS FY GUIDANCE
    * EXPECTS THAT CONSTRUCTION MARKETS WILL REMAIN SOFT
OVERALL,
ESPECIALLY IN NEW HOUSING SEGMENT, IN Q4 OF YEAR
    * ELEVATED MORTGAGE INTEREST RATES, ENVIRONMENT OF
UNCERTAINTY,
GEOPOLITICAL CONFLICTS EXPECTED TO CONTINUE TO CONSTRAIN
INITIATION OF NEW CONSTRUCTION PROJECTS
    * INFRA: NET SALES DECLINED DUE TO LOWER MARKET ACTIVITY
    * INFRA: COMPARABLE OPERATING PROFIT MARGIN EXCEEDED
PREVIOUS
YEAR'S LEVEL SUPPORTED BY A FAVOURABLE PRODUCT AND CHANNEL MIX
    * BUILDING SOLUTIONS - EUROPE: COMPARABLE OPERATING MARGIN
WAS
NEGATIVELY IMPACTED BY LOWER SALES VOLUMES DUE TO CONTINUED SLOW
UNDERLYING MARKET ACTIVITY
    * BUILDING SOLUTIONS – EUROPE: SOME SIGNS OF STABILISATION
VISIBLE
IN ORDER BOOK DEVELOPMENT TOWARDS END OF QUARTER
    * TRANSFORMATION PROGRAMME: EXPECTED TO GENERATE ANNUALISED
SAVINGS OF EUR 19.6 MILLION OF TOTAL TARGETED EUR 30 MILLION
COST SAVINGS BY END OF 2024
    * BUILDING SOLUTIONS - NORTH AMERICA EXCEEDED PREVIOUS
YEAR'S
COMPARABLE OPERATING MARGIN LEVEL

Source text for Eikon:  ID:nGNEbMGHtt 
Further company coverage:  UPONOR.HE 

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