New guidance for 2023
The company's euro-denominated operating profit in 2023 is expected to be on a par with the operating profit of its continuing operations in 2022 (EUR 46.6 million).
Reasons for the new guidance
Persistent inflation has continued to impact the profitability of the business. As we enter a weakening economic cycle, the company's profitability is impacted by the exit from the Russian business and challenges in the organizational cost structure. The company's revenue growth has come from less profitable market areas.
Profitability has been affected by operational expenses growing faster than the company's revenue and slower-than-expected improvement of the operational challenges of
Previous guidance for 2023
In its previously released financial statements and interim reports earlier this year,
Publishing of the
Vieremä,
President and CEO
FURTHER INFORMATION
DISTRIBUTION
Principal media
www.ponsse.com
The company was established by forest machine entrepreneur Einari Vidgrén in 1970 and has been a leader in timber harvesting solutions based on the cut-to-length method ever since. Ponsse is headquartered in Vieremä, Finland. The company's shares are quoted on the Nasdaq Nordic List.
https://news.cision.com/ponsse-oyj/r/insider-information--profit-warning--ponsse-cuts-its-guidance-for-2023,c3856179
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