Leipurin Plc downgrades its earnings forecast for Q4 2014
(Thomson Reuters ONE) -
LEIPURIN PLC STOCK EXCHANGE RELEASE 3 December 2014 at 17:40
Not for publication or distribution, directly or indirectly, in or into the
United States, Canada, Australia, New Zealand, Hong Kong, South Africa,
Singapore or Japan or any other jurisdiction in which the distribution or
release would be unlawful.
LEIPURIN PLC DOWNGRADES ITS EARNINGS FORECAST FOR Q4 2014
The long-term outlook for Leipurin's business has remained unchanged.
The forecasts for Leipurin's business segments West and Machinery are unchanged
for the end of 2014. The operating profit of the East segment for the fourth
quarter will be weakened by non-recurring currency exchange losses caused by the
weakening Russian ruble.
The East segment has increased its sales volumes in line with the management's
forecasts also in October-November.
The external value of the Russian ruble has decreased by 37% in one year. The
weakening of the ruble against the euro has been of historic proportions in late
November. During the period 24.-28.11.2014, the Ruble weakened a total of 11%,
and has weakened further. The weakening of the ruble against the euro during
2014 has not significantly reduced Leipurin's operating profit before November.
Due to the unusually significant weakening of the ruble in late November, the
management of Leipurin estimates that the effect of exchange rate differences on
the East segment's operating profit for November is about EUR -0.3 million.
New guidance from Leipurin Oyj on December 3, 2014:
"The operating profit of Leipurin is expected to remain unchanged or to decrease
compared to the fourth quarter of 2013" (2013: EUR 1,460 thousand).
Previous guidance: "The management of Leipurin Group expects that the operating
profit for the fourth quarter will improve compared to the fourth quarter of
2013" (EUR 1,460 thousand).
LEIPURIN PLC
Board of Directors
Further information:
Aki Ojanen, Leipurin Plc, chairman of the Board, phone
+358 9 5211, +358 400 106 592
aki.ojanen (a)aspo.com
Leipurin serves the bakery industry and other food industry by providing product
development services, raw materials needed for baking, and equipment from
individual machines to full-scale baking lines. Leipurin operates in Finland,
Russia, the Baltic countries, Poland, Ukraine, Belarus, and Kazakhstan. The
operations in Russia geographically cover all important regions. In its
procurement operations, Leipurin operates both internationally and by developing
local procurement. In 2013, Leipurin's net sales were EUR 136 million.
www.leipurin.com
DISTRIBUTION:
NASDAQ OMX Helsinki
Key media
www.leipurin.com
DISCLAIMER:
The information contained in this stock exchange release shall not constitute an
offer to sell or the solicitation of an offer to buy the securities referred to
herein. Any potential decision to invest in the securities mentioned herein,
either through subscription or purchase, shall be exclusively based on the
prospectus published in connection with such offer, and not on this stock
exchange release.
The information contained herein is not for publication or distribution,
directly or indirectly, in or into the United States, Canada, Australia, New
Zealand, South Africa, Hong Kong, Singapore or Japan or any other jurisdiction
in which according to applicable legislation the distribution or release would
be unlawful. This release does not constitute an offer of securities for sale in
the United States, nor may the securities be offered or sold in the United
States absent registration or an exemption from registration as provided in the
U.S. Securities Act of 1933, as amended, and the rules and regulations
thereunder. The company does not intend to register any portion of the possible
offering in the United States or to conduct a public offering of securities in
the United States.
This announcement is distributed by GlobeNewswire on behalf of
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other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Leipurin Oyj via GlobeNewswire
[HUG#1876771]
Unternehmensinformation / Kurzprofil:
Datum: 03.12.2014 - 16:41 Uhr
Sprache: Deutsch
News-ID 357077
Anzahl Zeichen: 4872
contact information:
Town:
Vantaa
Kategorie:
Business News
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