April 24, 2020 / 5:10 AM / a month ago

BRIEF-Lassila & Tikanoja PLC Lowers Its Guidance For 2020

April 24 (Reuters) - Lassila & Tikanoja Oyj:

* REG-PROFIT WARNING: LASSILA & TIKANOJA PLC LOWERS ITS GUIDANCE FOR 2020 DUE TO THE SHUTDOWN OF RUSSIAN OPERATIONS AND THE CORONAVIRUS EPIDEMIC

* LASSILA & TIKANOJA OYJ - ON CORONAVIRUS: LASSILA & TIKANOJA PLC LOWERS ITS GUIDANCE FOR 2020 DUE TO SHUTDOWN OF RUSSIAN OPERATIONS AND CORONAVIRUS EPIDEMIC

* LASSILA & TIKANOJA OYJ - FULL-YEAR NET SALES FOR 2020 ARE EXPECTED TO DECREASE YEAR-ON-YEAR AND OPERATING PROFIT IS ESTIMATED TO BE EUR 30-40 MILLION (40.5) EXCLUDING LOSS RELATED TO DISCONTINUATION OF RUSSIAN OPERATIONS

* LASSILA & TIKANOJA OYJ - CORONAVIRUS EPIDEMIC HAS THUS NOT SO FAR AFFECTED LASSILA & TIKANOJA’S CAPACITY TO DELIVER SERVICES TO ITS CUSTOMERS.

* LASSILA & TIKANOJA OYJ - CORONAVIRUS EPIDEMIC IS ESTIMATED TO HAVE A NEGATIVE EFFECT ON NET SALES AND OPERATING PROFIT OF ALL OF LASSILA & TIKANOJA’S BUSINESS SEGMENTS, WITH IMPACTS FALLING ESPECIALLY ON Q2.

* LASSILA & TIKANOJA OYJ - ACCORDING TO PRELIMINARY FIGURES, LASSILA & TIKANOJA’S NET SALES FOR Q1 OF 2020 AMOUNTED TO EUR 184.4 MILLION (198.8)

* LASSILA & TIKANOJA OYJ - COMPANY’S LONG-TERM FINANCIAL TARGETS REMAIN UNCHANGED.

* LASSILA & TIKANOJA OYJ - DECLINE IN NET SALES WAS ATTRIBUTABLE TO DIVESTMENT OF L&T KORJAUSRAKENTAMINEN IN PREVIOUS FINANCIAL YEAR, WITH ITS BUSINESS INCLUDED IN COMPARISON FIGURES, AND EFFECTS OF CORONAVIRUS EPIDEMIC TOWARDS END OF QUARTER

* LASSILA & TIKANOJA OYJ - Q1 PRELIMINARY OPERATING PROFIT WAS EUR 2.9 MILLION, WHICH WAS SUBSTANTIALLY HIGHER THAN IN COMPARISON PERIOD (0.7)

* LASSILA & TIKANOJA OYJ - INCREASE IN OPERATING PROFIT WAS MAINLY DUE TO IMPROVED FINANCIAL PERFORMANCE OF FACILITY SERVICES FINLAND

* LASSILA & TIKANOJA OYJ - NET CASH FLOW FROM OPERATING ACTIVITIES AMOUNTING TO EUR 19.4 MILLION (22.4), COMPANY’S LIQUIDITY POSITION REMAINED STRONG IN Q1.

* LASSILA & TIKANOJA OYJ - COMPANY’S LONG-TERM FINANCIAL TARGETS REMAIN UNCHANGED. Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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