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2014-12-03 16:40:09 CET 2014-12-03 16:41:02 CET REGULATED INFORMATION Leipurin Oyj - Company AnnouncementLeipurin Plc downgrades its earnings forecast for Q4 2014LEIPURIN PLC STOCK EXCHANGE RELEASE 3 December 2014 at 17:40 Not for publication or distribution, directly or indirectly, in or into the United States, Canada, Australia, New Zealand, Hong Kong, South Africa, Singapore or Japan or any other jurisdiction in which the distribution or release would be unlawful. LEIPURIN PLC DOWNGRADES ITS EARNINGS FORECAST FOR Q4 2014 The long-term outlook for Leipurin's business has remained unchanged. The forecasts for Leipurin's business segments West and Machinery are unchanged for the end of 2014. The operating profit of the East segment for the fourth quarter will be weakened by non-recurring currency exchange losses caused by the weakening Russian ruble. The East segment has increased its sales volumes in line with the management's forecasts also in October-November. The external value of the Russian ruble has decreased by 37% in one year. The weakening of the ruble against the euro has been of historic proportions in late November. During the period 24.-28.11.2014, the Ruble weakened a total of 11%, and has weakened further. The weakening of the ruble against the euro during 2014 has not significantly reduced Leipurin's operating profit before November. Due to the unusually significant weakening of the ruble in late November, the management of Leipurin estimates that the effect of exchange rate differences on the East segment's operating profit for November is about EUR -0.3 million. New guidance from Leipurin Oyj on December 3, 2014:"The operating profit of Leipurin is expected to remain unchanged or to decrease compared to the fourth quarter of 2013" (2013: EUR 1,460 thousand). Previous guidance: "The management of Leipurin Group expects that the operating profit for the fourth quarter will improve compared to the fourth quarter of 2013" (EUR 1,460 thousand). LEIPURIN PLC Board of Directors Further information: Aki Ojanen, Leipurin Plc, chairman of the Board, phone +358 9 5211, +358 400 106 592 aki.ojanen (a)aspo.com Leipurin serves the bakery industry and other food industry by providing product development services, raw materials needed for baking, and equipment from individual machines to full-scale baking lines. Leipurin operates in Finland, Russia, the Baltic countries, Poland, Ukraine, Belarus, and Kazakhstan. The operations in Russia geographically cover all important regions. In its procurement operations, Leipurin operates both internationally and by developing local procurement. In 2013, Leipurin's net sales were EUR 136 million. www.leipurin.com DISTRIBUTION: NASDAQ OMX Helsinki Key media www.leipurin.com DISCLAIMER: The information contained in this stock exchange release shall not constitute an offer to sell or the solicitation of an offer to buy the securities referred to herein. Any potential decision to invest in the securities mentioned herein, either through subscription or purchase, shall be exclusively based on the prospectus published in connection with such offer, and not on this stock exchange release. The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States, Canada, Australia, New Zealand, South Africa, Hong Kong, Singapore or Japan or any other jurisdiction in which according to applicable legislation the distribution or release would be unlawful. This release does not constitute an offer of securities for sale in the United States, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. The company does not intend to register any portion of the possible offering in the United States or to conduct a public offering of securities in the United States. [HUG#1876771] |
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