STOCK EXCHANGE RELEASE 10 Jul 2018
Pöyry PLC: Pöyry has reached settlements on disputes related to former Urban Business Group
Pöyry PLC Stock Exchange Release 10 July 2018 at 11.30 a.m. (EEST)
Pöyry has reached settlements on disputes related to former Urban Business Group
Pöyry has reached settlements on disputes that relate to projects originating from the former Urban Business Group. The settlements are based on unpaid work performed to client, subsequent change orders to work performed and delay interests. Impact of the settlements will be recorded in operating result, financial income and taxes. As a result of the settlements, Pöyry will have an increase in net profit in amount of appr. 14 MEUR and increase of EPS of appr. 0,24 EUR. Impact will be recorded in first half of 2018.
The settlements have no impact on Pöyry's financial outlook for 2018 as operating result impact will be treated as an adjustment item. Pöyry's financial outlook remains as: "The Group's adjusted operating result for 2018 is expected to improve. (2017: 26,0 MEUR)"
Juuso Pajunen, CFO
Tel. +358 10 33 26632
Pöyry is an international consulting and engineering company. We serve clients across power generation, transmission & distribution, forest industry, biorefining & chemicals, mining & metals, infrastructure and water & environment. Together, we deliver smart solutions and work with the latest digital innovations. Pöyry's net sales in 2017 were EUR 522 million. The company's shares are quoted on Nasdaq Helsinki. Approximately 5500 experts. 40 countries. 115 offices.