STOCK EXCHANGE RELEASE 18 Dec 2014
Pöyry PLC: Pöyry lowers its guidance for the operating profit in 2014
PÖYRY PLC Company announcement 18 December 2014 at 6:40 p.m. (EET)
Pöyry lowers its guidance for the operating profit in 2014
Pöyry's operating profit is burdened during the last quarter of the year by further losses originating mainly from the projects of the former Urban Business Group, that were referred to in the January-September interim report 2014. In addition, the operating profit is burdened by a restructuring programme focusing on Central Europe. Both items will be recorded under the Regional Operations Business Line.
Due to the increased project losses and restructuring costs in the last quarter, Pöyry lowers its guidance for the Group's operating profit in 2014. According to the previous guidance, published on 31 July 2014, the Group's operating profit in 2014 was expected to decline compared to the operating profit for 2013.
According to the new guidance, the Group's operating profit in 2014 is expected to decline compared to the operating profit for 2013 and to be clearly negative.
Pöyry publishes financial guidance only for the Group's operating profit.
Jukka Pahta, CFO
Pöyry is an international consulting and engineering company. We serve clients globally across the energy and industrial sectors and locally in our core markets. We deliver strategic advisory and engineering services, underpinned by strong project implementation capability and expertise. Our focus sectors are power generation, transmission & distribution, forest industry, chemicals & biorefining, mining & metals, transportation and water. Pöyry has an extensive local office network employing about 6,000 experts. Pöyry's net sales in 2013 were EUR 650 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).
NASDAQ OMX Helsinki