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Provider: Reuters Investment Profile
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Provider: Wright Reports
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Finnair Oyj Lowers FY 2013 Financial Guidance

Thursday, 24 Oct 2013 09:00am EDT 

Finnair Oyj announced that due to the continuing negative effect of the weak yen on unit revenue in Japanese sales, and the deterioration of cargo and leisure traffic revenues, the Company expects its turnover in the fiscal year 2013 to be below the 2012 level. Finnair added that if the strong deterioration of unit revenues continues in the last quarter of the year, it is possible that the Company will not reach a profitable operational result in the fiscal year 2013. Previously the Company communicated that due to the negative effect of the weak yen on unit revenue in Japanese sales, its turnover in 2013 was expected to be largely unchanged from 2012. Finnair also estimated that its operational result would show a profit in 2013. In the fiscal year 2013 the Company reported net sales of EUR 2,494.10 million. According to I/B/E/S Estimates analysts on average are expecting Finnair to report revenue of EUR 2,499.75 million and EBIT of EUR 38.09 million for the fiscal year 2013. 

Company Quote

-0.04 -1.61%
7:38am EDT