Componenta lowers its guidance for net sales in 2019
Componenta Corporation, Stock Exchange Release, Insider Information, 7 November 2019 at 15.25
Componenta lowers its guidance for 2019 net sales, due to the specified classification of Componenta Främmestad AB as discontinued operations. The company expects the net sales of the Group’s continued operations for 2019 (including Komas Oy as of 1 September 2019 but entirely without Componenta Främmestad AB) to be in the range of EUR 45 – 55 million after the intra-group income and expenses between continued and discontinued operations have been eliminated in their entirety. The guidance concerning EBITDA remains unchanged, meaning that the corresponding EBITDA is expected to remain positive.
In its previous guidance, Componenta expected net sales to be EUR 55 – 65 million in 2019. EBITDA was expected to remain positive.
Componenta’s continued operations is component contract manufacturing business comprising of foundries in Pori and Karkkila and machine shops in Jyväskylä, Härmä, Kurikka, Leppävesi and Sastamala in Finland. The Group has some 700 employees. The company provides cast and machined components, forged blanks, hydraulic pipes and plate cuttings to global manufacturers of vehicles, machines and equipment.
President and CEO
For further information, please contact:
Marko Penttinen, President and CEO, tel. +358 10 403 2200
Marko Karppinen, CFO, tel. +358 10 403 2101
Componenta is a technology company which specializes in supplying cast and machined components to global manufacturers of vehicles, machines and equipment. The company’s share is listed on Nasdaq Helsinki.