Pöyry reduces operating profit estimate for 2012
(Thomson Reuters ONE) -
PÖYRY PLC Company Announcement 29 June 2012 at 2.45 p.m.
Based on current information, the Pöyry Group's operating profit for 2012,
excluding restructuring costs, is expected to remain stable compared with 2011.
Previously the comparable group operating profit was expected to improve
clearly from 2011. The outlook for Group's net sales for the full year 2012
remains unchanged, and is expected to remain stable.
The main reasons behind the reduced outlook are:
* Closure and divestments of low performing and non-core offices and business
units
* Recognized one time project and credit losses in Urban business group
projects mainly outside of our core markets
* Lower than anticipated activity levels in certain markets and especially in
the Management Consulting business group
Pöyry continues the strategic review of its business portfolio, especially in
the Urban business group. The previously announced operational excellence
program aiming at improving the business units' performance will continue until
end of 2012. The program also includes group-wide efficiency improvement
measures, focusing on internal processes, support functions and associated costs
that are expected to deliver significant annualized cost savings.
"The Company's financial performance has not been satisfactory, and we have
taken necessary measures to adjust our costs to improve our efficiency and
profitability. This work will continue through the targeted ongoing programs,
aiming at reducing our cost base. We expect to gain significant improvements
from these programs", says Henrik Ehrnrooth, President and CEO of Pöyry Group.
More details about the outlook will be issued in Pöyry's January-June interim
report, which will be published on 27 July 2012.
Previous Group level outlook from Q1 interim report (25 April 2012):
Based on the current strong order stock and outlook for new orders, the Group's
net sales in 2012 are expected to remain stable compared with 2011. The
comparable operating profit for 2012 is expected to improve clearly from the
operating profit, excluding restructuring costs, in 2011.
The outlook and comparison both refer to figures excluding restructuring costs.
PÖYRY PLC
Additional information:
Jukka Pahta, CFO
tel. +358 10 33 26088
Pöyry is a global consulting and engineering company dedicated to balanced
sustainability and responsible business. With quality and integrity at our core,
we deliver best-in-class management consulting, total solutions, and design and
supervision. Our in-depth expertise extends to the fields of energy, industry,
transportation, water, environment and real estate. Pöyry has about 7,000
experts and a local office network in about 50 countries. Pöyry's net sales in
2011 were EUR 796 million and the company's shares are quoted on NASDAQ OMX
Helsinki (Pöyry PLC: POY1V).
DISTRIBUTION:
NASDAQ OMX Helsinki
Major media
www.poyry.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Pöyry Oyj via Thomson Reuters ONE
[HUG#1623050]
Unternehmensinformation / Kurzprofil:
Datum: 29.06.2012 - 13:45 Uhr
Sprache: Deutsch
News-ID 161429
Anzahl Zeichen: 3877
contact information:
Town:
Vantaa
Kategorie:
Business News
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