Wulff adjusts its outlook for 2020
STOCK EXCHANGE RELEASE March 20, 2020 at 9:00 A.M.
Wulff adjusts its outlook 2020 due to corona virus COVID-19 and preparations arising from it. Based on the Group management’s outlook, it is likely that the comparable operating profit will decrease from year 2019, which was EUR 1.7 million. Earlier the company estimated in its financial statements release on February 17, 2020, that the comparable operating profit will grow from year 2019.
Wulff Group Plc CEO Elina Pienimäki: “Due to corona virus and uncertainties in the global economy we estimate that the comparable operating profit will decrease from year 2019. The demand for contract sales’ design and project management Wulff Entre’s fair services has temporarily diminished due to COVID-19. Fair events have been cancelled and postponed. This will decrease Wulff group’s comparable operating profit in 2020.
Preparations to corona virus and changes in companies and people’s behaviour create also additional sales opportunities for Wulff. The demand for cleaning and hygiene products, devices used in remote work and ergonomics has already increased. The same daily products are in use in home offices as in traditional office spaces: soft tissue papers, hand towels, soap, coffee and snacks. In this challenging situation we are appreciated for our quick deliveries, digital sales channels and local and sustainable products. Our supply chain is strong and flexible: we deliver products efficiently also to home offices in several addresses.
As a multi-channel-company we face both challenges and possibilities in our business currently. We have started to take actions to adjust to the situation and the actions will continue according to the changing situation and the needs arising from our different lines of businesses.
We in Wulff believe that the world can be crafted safe again when we do it together – a workplace at a time. Let’s not let the impact of the virus stop businesses from developing. Let’s stop the spread of corona virus in collaborating as individuals, companies and organisations.”
In Espoo on March 20, 2020
WULFF GROUP PLC
BOARD OF DIRECTORS
CEO Elina Pienimäki
p. 040 647 1444
NASDAQ OMX Helsinki Oy
A better world – one workplace at a time. Wulff’s goal is a perfect workday! We enable better working environments and create workplaces, wherever you are. More comfortable, healthier, safer, more enjoyable, more active and more diverse? How do you want to better you workday and working environment? Wulff has the solution. We offer our customers office supplies, facility management products, catering solutions, IT supplies, ergonomics, first aid, air purifiers, and innovative products for worksites. Customers can also acquire international exhibition services from Wulff. In addition to Finland, Wulff operates in Sweden, Norway, and Denmark. Check out our products and services at wulff.fi/en/.