Nurminen Logistics Oyj - Inside information

Inside information, profit warning: Nurminen Logistics Plc lowers its net sales and comparable operating result outlook for 2024

Nurminen Logistics Plc     Stock Exchange Release   July 12, 2024 at 6.20 pm

Net sales in 2024 will be below the net sales in 2023 and the comparable
operating profit will be slightly below last year's level.

According to the previous guidance, the group estimated that the 2024 net sales
and comparable operating profit will increase compared to 2023.

The new guidance is based on the significant decrease in Baltic volumes due to
the prolongation of the Red Sea crisis. A large part of the transports going
from Central Asia via the Baltic to Asia has moved from the beginning of the
summer season until the onset of winter to land routes. We predict that Baltic
volumes will be at a clearly lower level until the end of the year, which will
negatively affect the company's net sales and operating result outlook for the
whole year.

We expect volumes to return to the sea route once the use of the Suez Canal for
container traffic becomes possible. The arrival of winter may also shift some of
the volumes to our routes.

Since June, the volume development of other than Baltic business has been
rising, and with the exception of the Baltics, we expect volumes to increase
compared to the beginning of the year and the second half of last year, which
will increase the share of our own production in the business and thus further
improve our good relative profitability, together with our improved efficiency,
new service products and customers.

We estimate that the net result attributable to the shareholders of Nurminen
Logistics Plc will increase from 2023 (excluding one-off gain from the bargain
purchase), based on the reduction of the share of minority interests in the
total result and the decrease of financial costs.

In accordance with our strategy, we prioritize profitability in this market
situation, in order to be able to implement growth projects based on a strong
balance sheet.

Nurminen Logistics Plc

Further information: Olli Pohjanvirta, President and CEO, Nurminen Logistics
Plc, tel. +358 40 900 6977, olli.pohjanvirta@nurminenlogistics.com

DISTRIBUTION
Nasdaq Helsinki
Major media
nurminenlogistics.com (http://www.nurminenlogistics.com/)

Nurminen Logistics is a Finnish listed company established in 1886. The company
offers high-quality rail transport, terminal, and multimodal solutions between
Asia and Europe and in the Nordic and Baltic countries.

Attachments:

07114689.pdf