Insider information, profit warning: Ponsse cuts its guidance for 2024 and announces preliminary information on the turnover and profitability of the first quarter of 2024
Ponsse Plc, Insider Information, 19 April 2024 at 12:15 p.m
Ponsse cuts its guidance for 2024. The company's operating profit in euros is estimated to be slightly weaker than in 2023 (47.2 euros).
The turnover and operating profit (EBIT) of the first quarter are expected to be significantly lower than the comparison period.
New guidance for 2024
The company's operating profit in euros is estimated to be slightly weaker in 2024 than in 2023 (47.2 euros).
Reasons for the new guidelines and preliminary information on the turnover and profitability of the first quarter of 2024
Demand for forest machines continued low during the first quarter of the year. In addition, industrial actions in Finland lowed the net sales. Due to the poor development of turnover and the profitability of Ponsse's subsidiary, Ponsse Latin America Ltda, having fallen clearly short of expectations, the operating result (EBIT) for the first quarter is expected to decrease significantly from the comparative period.
Due to the weak first quarter, Ponsse changes the guidance for 2024 released on 20 February 2024.
The previously published profit guidance for 2024
In the financial statement for 2023, published on February 20, 2024, Ponsse has assessed the profit outlook for 2024 as follows: “The company’s euro-denominated operating profit in 2024 is expected to be on par with the operating profit in 2023 (EUR 47.2 million).”
Publishing of Ponsse's Q1 interim report
The company will publish its interim report for January–March 2024 on Tuesday 23 April 2024.
Vieremä, 19 April 2024
PONSSE PLC
Juho Nummela
President and CEO
FURTHER INFORMATION
Juho Nummela, President and CEO, +358 400 495 690
DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Principal media
www.ponsse.com
Ponsse Plc specialises in the sale, production, maintenance and technology of cut-to-length method forest machines, and is driven by a genuine interest in its customers and their business operations. Ponsse develops and manufactures sustainable and innovative harvesting solutions based on customer needs.
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. This year, Ponsse celebrates its 50th anniversary.