Vaahto Group Lowers its Fiscal Year 2010 – 2011 Outlook
VAAHTO GROUP PLC OYJ STOCK EXCHANGE BULLETIN 1.9.2011 at 16.00
VAAHTO GROUP LOWERS ITS FISCAL YEAR 2010 – 2011 OUTLOOK
Vaahto Group estimated in the Interim Management Statements published on July 1, 2011 for September, 2010 – July 1, 2011 that the result of the Group is expected to improve significantly from the previous fiscal year’s figure, and the full-year operating profit is expected to be slightly positive.
According to the current view, the result of the Group is expected to improve from the previous fiscal year’s figure, but the full-year operating profit is expected to remain negative.
The change in guidance is based on that turnover of the Pulp & Paper Machinery division’s project business remained lower than expected during the last three months of the fiscal period. In addition to that, the increase in acquisition costs has weakened the profitability of one essential project from previously predicted. Despite lower turnover forecast for the full year, the turnover of the Pulp & Paper Machinery division will grow to approximately 80 % from the previous fiscal year. Similarly, the division’s operating profit will improve significantly from the previous fiscal year.
VAAHTO GROUP PLC OYJ
Board of Directors
For more information, please contact:
CEO, Vaahto Group Plc Oyj
Tel.: +358 50 466 1470
Vaahto Group is a globally operating high technology company serving process industry in the fields of pulp and paper machinery and process machinery.