Delete withdraws its outlook for 2020
Delete Group Oyj | Stock Exchange Release 3 April 2020 at 16:30 (EEST)
Due to the COVID-19 pandemic and related uncertainty of economic development, Delete withdraws its outlook for 2020, which is referred to below. Delete will publish its outlook again when the predictability of business improves and the financial performance for the year 2020 can be better assessed. As a result of the pandemic, certain industrial customers in the Cleaning Services business have postponed maintenance shutdowns scheduled for the second quarter until later in 2020 or 2021.
Outlook for 2020, as announced on 25 February 2020:
“The demand for Cleaning Services is expected to grow in 2020. Recycling waste volumes are expected to remain stable in 2020 and the market demand for recycled fuel is expected to gradually improve during 2020 thereby improving Recycling Services’ profitability.
Delete Group’s continued operations’ operating profit is expected to improve in 2020.”
FOR FURTHER INFORMATION, PLEASE CONTACT:
Ville Mannola, CFO, Delete Group Oyj
Tel. +358 400 357 767
DELETE GROUP IN BRIEF
Delete Group is a leading environmental full-service provider in the Nordics. The Group offers business critical specialist competences and specialised equipment through three business areas: Industrial Cleaning, Demolition Services (Assets hel for sale) and Recycling Services. Delete was formed in 2010 through the combination of Toivonen Yhtiöt and Tehoc and was acquired by private equity investor Axcel in 2013. Since 2011, Delete has made 34 acquisitions within the industrial cleaning and demolition segments.
The Group is headquartered in Helsinki and employs approximately 900 professionals at over 36 locations in Finland and Sweden.