NYAB lowers its financial guidance for 2023 (inside information)
NYAB Plc
COMPANY ANNOUNCEMENT
22 December 2023 at 09:00
NYAB lowers its financial guidance for 2023 (inside information)
NYAB Plc lowers its financial guidance for the financial year 2023. According to the new guidance for full year 2023, revenue is estimated to be EUR 270-285 million and operating profit (EBIT) EUR 14-17 million.
Change in the financial guidance results from the impact of weather conditions. Due to exceptionally early and extreme winter beginning, progress of NYAB’s projects in its key markets in northern parts of Sweden and Finland at the end of the year has been slower than previously estimated. Consequently, revenue recognition has been postponed to the year 2024 to a larger than expected extent.
In the previous financial guidance that was given on 10 August 2023, NYAB’s revenue for full year 2023 was estimated to be EUR 290-315 million and operating profit (EBIT) EUR 16-24 million. In connection with the business review for the third quarter that was released on 10 November 2023, NYAB specified the guidance so that revenue for 2023 was expected to be at the lower end of the previously communicated range.
NYAB’s financial statement release for the financial year 2023 is scheduled to be published on Wednesday, 28 February 2024.
Contacts
- Aku Väliaho, CFO, NYAB Oyj, +358 (0)40 559 2772, aku.valiaho@nyabgroup.com
- Johan Larsson, CEO, NYAB Oyj, +46 (0)70 182 5070, johan.larsson@nyabab.se
About NYAB Oyj
NYAB is a builder of a clean future with decades of experience in complex and demanding projects. We are enabling green transition in the Nordics by providing engineering, construction, and maintenance services to public and private sector clients regarding renewable energy and sustainable infrastructure. NYAB is headquartered in Oulu and it has more than 400 employees at different locations in Finland and Sweden.
NYAB Plc's Certified Adviser is Augment Partners AB, info@augment.se, phone +46 8 604 22 55.