STOCK EXCHANGE RELEASE 16 Apr 2009
Pöyry lowers its 2009 earnings estimate
PÖYRY PLC Company Announcement 16 March 2009 at 11.40 a.m.
Pöyry PLC lowers its earnings estimate for the year 2009. The demand for new pulp and paper projects in the Forest Industry business group has continued to be weak in the beginning of the year. The investment activity is not expected to recover in 2009. The Forest Industry business group's operating profit is also affected by the non-recurring costs caused by the adaptation measures. The Forest Industry business group's operating profit in 2009 is estimated to be slightly negative including non-recurring items. The demand for the Energy business group's services is expected to weaken during the rest of the year due to postponement of new project implementations among other things. The Energy business group's operating profit is estimated to decrease in 2009 compared with 2008.
The Forest Industry business group's first quarter operating profit is somewhat negative. The Pöyry group's first quarter profit before taxes in 2009 is estimated to decrease compared with the corresponding period in 2008 and will be about EUR 5 million including EUR 3 million non-recurring costs.
Pöyry repeats its earlier guidance concerning the company's profit before taxes in 2009. According to the earlier guidance Pöyry's net sales for 2009 are estimated to decrease and profit before taxes is estimated to decrease significantly compared with 2008.
Pöyry PLC will publish its first quarter 2009 results on Friday 24 April 2009 at 8:30 a.m. Finnish time.
President and CEO
Deputy to President and CEO
Additional information by:
Esa Ikäheimonen, CFO, Pöyry PLC
Tel. +358 10 33 21586
NASDAQ OMX Helsinki