Hold the Presses is your online newsportal en brings press releases from around the world. Journalists can use it for free, although it is their responsibilty to check the news. Hold the Presses is in no way responsible for the content of the press releases, the Sender is. We hope you enjoy reading the news we bring you on this website. If a message is published that is not acceptable, we apologize. Please contact us and we will remove the message as soon as possible.

Thursday, 13 July 2017

Tikkurila lowers its guidance for 2017

Tikkurila Oyj    

Published: 14:00 CEST 13-07-2017 /GlobeNewswire /Source: Tikkurila Oyj / : TIK1V /ISIN: FI4000008719

Tikkurila lowers its guidance for 2017

Tikkurila Oyj
Stock Exchange Release
July 13, 2017 at 3:00 p.m. (CET+1)

Tikkurila lowers its guidance for 2017

Tikkurila lowers the guidance for 2017 revenue and adjusted operating profit. The changed outlook is resulting from the problems relating to the implementation of the new Enterprise Resource Planning (ERP) system, poor weather conditions and increase in raw material costs.

During the second quarter, Tikkurila suffered from severe shortages of certain raw materials caused partly by the implementation of the new ERP system and partly by the general raw material availability issues on the market. Thus, Tikkurila has not been able to fully meet the market demand and sales volumes were at a lower level than anticipated in the second quarter.

The updated guidance for 2017 is as follows:

Tikkurila expects its revenue to remain at last year's level and adjusted operating profit for the financial year 2017 to remain below the 2016 level.

Previous guidance announced on February 9, 2017:

Tikkurila expects its revenue and adjusted operating profit for the financial year 2017 to increase from the 2016 level.


For further information, please contact:

Erkki Järvinen, President and CEO
Mobile +358 400 455 913, erkki.jarvinen@tikkurila.com

Minna Avellan, Director, Communications and Investor Relations
Mobile +358 40 533 7932, minna.avellan@tikkurila.com


Tikkurila is the leading paints and coatings professional in the Nordic region and Russia. With our roots in Finland, we now operate in 14 countries. Our high-quality products and extensive services ensure the best possible user experience in the market. Sustainable beauty since 1862.

www.tikkurilagroup.com

 





This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Tikkurila Oyj, Kuninkaalantie 1, Vantaa 01301, Finland
If you would like to unsubscribe and stop receiving these e-mails click here.