Positive profit warning: Lassila & Tikanoja updates its net sales outlook for 2021

Lassila & Tikanoja Plc
Inside Information
27 July 2021 at 7.55 am

Positive profit warning: Lassila & Tikanoja updates its net sales outlook for 2021

Lassila & Tikanoja improves its net sales outlook for 2021.

The new outlook is as follows:
Net sales in 2021 are estimated to grow and adjusted operating profit is estimated to be at the same level or better compared to the previous year.

The previous outlook, published in the financial statements bulletin on 28 January 2021, was as follows:
Net sales in 2021 are estimated to be at the same level and adjusted operating profit at the same level or better compared to the previous year.

The company’s long-term financial targets remain unchanged.

The COVID-19 pandemic impacted all of Lassila & Tikanoja’s businesses throughout the first half of the year and the demand for services was difficult to predict at times. In the second quarter, material volumes began to recover and the prices of secondary raw materials continued to recover. Demand in the industrial segment was strong. Lassila & Tikanoja carried out three business acquisitions in the second quarter, strengthening its position in Environmental Services and Facility Services Finland’s food hygiene and retail services in accordance with L&T’s strategy. The combined net sales of the acquired businesses amounted to approximately EUR 25 million in 2020. The acquisitions support the company’s target of annually increasing its net sales organically and through acquisitions by more than 5 per cent.

LASSILA & TIKANOJA Plc

Eero Hautaniemi
President and CEO

For additional information, please contact:
Eero Hautaniemi, President and CEO, tel. +358 10 636 2810
Valtteri Palin, CFO, tel. +358 40 734 7749

Lassila & Tikanoja is a service company that is putting the circular economy into practice. Together with our customers, we keep materials and properties in productive use for as long as possible and we enhance the use of raw materials and energy. This is to create more value with the circular economy for our customers, personnel and society in a broader sense. Achieving this also means growth in value for our shareholders. Our objective is to continuously grow our actions’ carbon handprint, our positive effect on the climate. We assume our social responsibility by looking after the work ability of our personnel as well as offering jobs to those who are struggling to find employment, for example. With operations in Finland and Sweden, L&T employs 8,100 people. Net sales in 2020 amounted to EUR 751.9 million. L&T is listed on Nasdaq Helsinki.

Distribution:
Nasdaq Helsinki
Major media
www.lt.fi/en/