Oriola Corporation revises guidance for continuing operations adjusted operating profit
13 Luglio 2017 - 6:02PM
Oriola Corporation Stock Exchange Release 13 July
2017 at 19.00
Oriola Corporation revises guidance for continuing
operations adjusted operating profit
Despite the recent improvements in the performance
of the Consumer business, the result of the Business Area in 2017
will remain below 2016 level. The go-live of the IT systems in
Finland, planned for June, is postponed to the third quarter of
2017. The delay will result in additional costs in the Services
Business Area in 2017. In the Healthcare business the costs for
starting the Swedish dose dispensing production for the Norrland
region are higher than anticipated, and the result of the
Healthcare Business Area will stay negative in 2017.
Oriola has decided to divest its businesses in the
Baltic countries. In the Half Year Financial report the Baltic
businesses will be classified as discontinued operations and the
assets and related liabilities will be classified as Assets for
sale. The net sales of the Baltic businesses in 2016 were EUR 54
million and the Adjusted EBIT EUR 1.2 million.
Oriola's and Kesko's joint health and wellbeing
store chain was approved by the competition authorities in June
2017, and the joint venture agreement was finalized on June 30.
Oriola will report 50 per cent of the result of the joint venture
in the Consumer Business Area EBIT. The joint venture is expected
to be loss making during the build-up phase 2017 - 2019. Oriola's
share of the loss in 2017 is estimated to be EUR 1.5 million.
Revised outlook for 2017
The Adjusted EBIT of continuing operations on
constant currency basis is estimated to decrease from the 2016
level. The 2016 Adjusted EBIT from continuing operations, at
comparable currencies, was EUR 59.3 million.
The previous guidance, published 13 February 2017
and repeated 28 April, 2017, was that the Adjusted EBIT will stay
at 2016 level, which was EUR 61.1 million.
Oriola Corporation will publish the Half Year
Financial report 1 January - 30 June 2017 on July 21 at 8.30.
Oriola will organize a meeting for investors, analysts and the
press on Friday, 21 July 2017 at 10.00 a.m. at Hotel Scandic
Simonkenttä, meeting room Tapiola, Simonkatu 9, 00100 Helsinki,
Finland.
For further information, please contact:
Eero Hautaniemi, President and CEO, Tel. +358
10 429 2109, E-mail: eero.hautaniemi@oriola.com
Sari Aitokallio, CFO, Tel. +358 10 429 2112,
E-mail: sari.aitokallio@oriola.com
Distribution: NASDAQ OMX Helsinki Ltd., Key
media
www.oriola.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Oriola Oyj via Globenewswire
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