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Outotec Oyj Lowers FY 2013 Financial Guidance


Thursday, 17 Oct 2013 02:35am EDT 

Outotec Oyj announced that it has lowered its guidance regarding sales and operating profit margin for fiscal year 2013. There are several factors contributing to the lower fiscal year 2013 sales guidance. The macroeconomic uncertainty has continued which has slowed down customers' capex investments. Also some projects have progressed slower than expected due to delays in customer payments. In addition, one project (EUR 30 million) in order backlog was canceled in September 2013. The lower fiscal year 2013 sales volume is the main reason for lowering the operating profit margin guidance for fiscal year 2013. The Company now expects to report fiscal year 2013 sales in a range of between EUR 1.9 billion and EUR 2.1 billion and fiscal year 2013 operating profit margin from business operations, excluding one-time items and purchase price allocations (PPA) amortizations, in a range of between 8.5% and 9.5%. Previously, the Company expected to report fiscal year 2013 sales in a range of between EUR 2.1 billion and EUR 2.3 billion and fiscal year 2013 operating profit, excluding one-time items and PPA amortizations, in a range of between 9.5% and 10.5%. According to I/B/E/S estimates, analysts on average are expecting the Company to report fiscal year 2013 sales of EUR 2,167.85 million. 

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