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2009-10-07 12:48:00 CEST 2009-10-07 12:48:41 CEST REGULATED INFORMATION Ruukki Group Oyj - Company AnnouncementPROFIT WARNING: RUUKKI GROUP CHANGES ITS FINANCIAL YEAR 2009 EBITDA GUIDANCE FOR THE MINERALS SEGMENT AND FOR THE CONSOLIDATED GROUPRuukki Group Plc, Stock Exchange Release, 7 October 2009 at 1:48 p.m. PROFIT WARNING: RUUKKI GROUP CHANGES ITS FINANCIAL YEAR 2009 EBITDA GUIDANCE FOR THE MINERALS SEGMENT AND FOR THE CONSOLIDATED GROUP Ruukki Group Plc's Board of Directors has decided to change 2009 EBITDA guidance for the Minerals segment and the consolidated Group from EUR 15.0 million to EUR 10.0 million. The Board of Directors revised the EBITDA guidance after taking into consideration the following reasons: The South African metal alloys smelting business (Mogale Alloys), acquired during the second quarter, has not generated the expected results mainly due to strengthening in the rand. In addition, during the month of August Mogale started the new 12 MVA DC furnace, and this ramp-up of additional production capacity initially negatively affected normal production. The increased production capacity and resultant increased volumes, combined with an increase of approximately 15% in ferroalloys sales prices, is expected to positively contribute to fourth quarter profitability. Non-recurring expenses in relation to corporate activity also had a negative effect on the segment's profitability. Ruukki Group's European specialty grade ferrochrome business is performing better than originally estimated even though the current weakness of the US dollar has had an adverse effect on earnings. -------------------------------------------------------------------------------- | EBITDA | Wood | Minerals | Non-segments | Group | | EUR million | Processing | | and | total | | | | | eliminations | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Actual 1-6/2009: | 4.5 | 1.3 | -5.2 | 0.6 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Guidance 1-12/2009: | | | | | -------------------------------------------------------------------------------- | original, announced 26 | 5.0 | 10.0 | -5.0 | 10.0 | | Feb 2009 in conjunction | | | | | | with 2008 financial | | | | | | statements review | | | | | -------------------------------------------------------------------------------- | revised, announced 25 May | 5.0 | 15.0 | -5.0 | 15.0 | | 2009 in conjunction with | | | | | | Mogale acquisition | | | | | -------------------------------------------------------------------------------- | revised, announced 6 Aug | 7.0 | 15.0 | -7.0 | 15.0 | | 2009 in conjunction with | | | | | | interim report Q2/2009 | | | | | -------------------------------------------------------------------------------- | revised, announced 7 Oct | 7.0 | 10.0 | -7.0 | 10.0 | | 2009 | | | | | -------------------------------------------------------------------------------- RUUKKI GROUP PLC Alwyn Smit Chief Executive Officer Ruukki Group specialises in industrial refining of certain natural resources. The Group has two focus areas: Wood Processing and Minerals. Ruukki Group Plc's shares are listed on NASDAQ OMX Helsinki and traded in the mid cap segment, in the industrials sector. For additional information, please contact: Alwyn Smit Chief Executive Officer Ruukki Group Plc Telephone +41 7960 19094 www.ruukkigroup.fi This stock exchange release is based on a translation into English of a document written in Finnish. In case of any discrepancies, inconsistencies or inaccuracies, the Finnish version of the release shall prevail. |
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