Lehto Group Plc: Lehto declines financial guidance for 2021

Lehto Group Plc
Inside Information
18 October 2021 at 8:30 p.m. (EET)

New guidance:

Lehto estimates that net sales in 2021 will be approximately 20% lower than in the previous year (EUR 544.7 in 2020) and that the operating result will be negative.

The main factors behind the declined outlook are some loss-making business premises projects and their delayed execution, rising prices of the building materials and their weak availability, and delays in the starts of new projects.

The main risks to the development of net sales and the operating result in 2021 concern the availability and rising prices of building materials and the completion of certain business premises projects according to the planned schedule and planned costs.

The previous guidance was as follows:

Lehto estimates that net sales in 2021 will be 15-20 % lower than in the previous year (EUR 544.7 million in 2020) and that the operating result will be positive. The accrual of the net sales and operating result is expected to be concentrated on the last quarter of the year.

Further information:
Juuso Hietanen
CEO
Tel. +358 50 343 4023