Profit warning: Lassila & Tikanoja plc lowers its guidance for 2019

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Lassila & Tikanoja plc Inside infomation 12 July 2019 4.00 pm

Lassila & Tikanoja plc lowers its guidance for 2019. Full-year net sales in 2019 are expected to be on par with 2018 and operating profit is expected to be below 2018 level. The outlook does not take into account the impact of the divestment of L&T Korjausrakentaminen Oy.

The company lowers its guidance for 2019 because the operating profit of Facility Services Finland is expected to decrease compared to 2018 due to costs related to the implementation of the new operating model and decrease in the division’s contract base.

New guidance:

Lassila & Tikanoja’s full-year net sales in 2019 are estimated to be on par with 2018 and operating profit is estimated to be below 2018 level. The outlook does not take into account the impact of the divestment of L&T Korjausrakentaminen Oy.

The previous guidance, published on 26 April 2019, was:

All of Lassila & Tikanoja’s divisions, except Facility Services Finland, have a good outlook for 2019. The net sales and operating profit of Facility Services Finland are expected to decrease compared to 2018 due to costs related to the implementation of the new operating model and decrease in the division’s contract base.

Lassila & Tikanoja’s full-year net sales and operating profit in 2019 are expected to be on par with 2018. The outlook does not take into account the impact of the divestment of L&T Korjausrakentaminen Oy.

Lassila & Tikanoja plc publishes its half-year report on 26 July 2019 at 8.00 am.

LASSILA & TIKANOJA PLC

Eero Hautaniemi President and CEO

Additional information: Eero Hautaniemi, President and CEO, tel. +358 10 636 2810 Juha Jaatinen, Acting CFO, tel. +358 50 487 3020 Lassila & Tikanoja is a service company that is putting the circular economy into practice. Together with our customers, we keep materials and properties in productive use for as long as possible and we enhance the use of raw materials and energy. We help our customers maintain the value of their properties and materials while protecting the environment. We achieve this by delivering responsible and sustainable service solutions that make the daily lives of our customers easier. We operate in Finland, Sweden, and Russia. L&T employs 8,600 people. Net sales in 2018 amounted to EUR 802.2 million. L&T is listed on Nasdaq Helsinki. Distribution: Nasdaq Helsinki Major media

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Globe Newswire: 14:00 GMT Friday 12th July 2019

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