Revenio Group Corporation: REVENIO GROUP CORPORATION CHANGES EARNINGS GUIDANCE DUE TO DIVESTMENT OF DONE LOGISTICS OY
Revenio Group Corporation Stock exchange release 18.12.2012 at 14:07
REVENIO GROUP CORPORATION CHANGES EARNINGS GUIDANCE DUE TO DIVESTMENT OF DONE LOGISTICS OY Revenio Group Corporation will change its earnings guidance for 2012 as follows, due to today's decision to divest Done Logistics: For continuing operations, it is forecast that net sales and operating profit excluding non-recurring items will grow markedly compared to 2011. Net sales for continuing operations in 2011 were EUR 21.5 million and operating profit EUR 3.4 million. A loss will be recorded for the divested operations, due to the loss-making nature of Done Logistics' operations and provisions for expenses associated with winding up the business. Because of the divested operations, Revenio's consolidated net profit for the 2012 financial year is expected to remain at around zero or slightly in the red. According to the previously released financial quidance, the net sales and operating profit for 2012 were forecasted to fall in comparison to 2011 figures, due to developments in the Systems segment. Operating profit excluding non- recurring items were expected to remain clearly positive. Revenio Group Corporation Olli-Pekka Salovaara President and CEO For further information, please contact: Olli-Pekka Salovaara, President and CEO, mobile +358 (0)40 5675520 olli-pekka.salovaara@revenio.fi http://www.reveniogroup.fi DISTRIBUTION: NASDAQ OMX Helsinki Financial Supervisory Authority (FIN-FSA) Key media www.revenio.fi Revenio Group Corporation, the parent company of the Finnish conglomerate Revenio Group, is listed on the NASDAQ OMX Helsinki. Revenio Group Corporation's subsidiaries share a focus on Finnish specialist expertise and export-based operations. Revenio Group consists of six independent subsidiaries in two business segments. These subsidiaries are Done Logistics Oy, Done Software Solutions Oy, Icare Finland Oy, Boomeranger Boats Oy, FLS Finland Oy, and Midas Touch Oy.