Tikkurila Oyj
Stock Exchange Release
December 14, 2016 at 9:00 a.m. (CET+1)
Tikkurila lowers its guidance for 2016 operating profit
During the latter year-half of 2016, the expenses have increased due to e.g. price hikes in certain key raw and packaging materials. In addition, changes in foreign exchange rates have mainly been negative and sales development in October and November have been weaker than expected. Due to these factors, Tikkurila estimates its adjusted operating profit to be below the 2015 level.
New guidance:
Tikkurila expects its revenue for the financial year 2016, with exchange rates as of the publication date of the financial statement release, to be at the same level as in 2015. Adjusted operating profit is expected to be below the 2015 level.
Previous guidance announced on February 9, 2016:
Tikkurila expects its revenue for the financial year 2016, with exchange rates as of the publication date of the financial statement release, to be at the same level as in 2015. Adjusted operating profit is expected to stay at 2015 level.
Tikkurila Oyj
Erkki Järvinen
For further information, please contact:
Tikkurila Oyj
Erkki Järvinen, President and CEO
Mobile +358 400 455 913, erkki.jarvinen@tikkurila.com (mailto:erkki.jarvinen@tikkurila.com)
Tikkurila is the leading paints and coatings professional in the Nordic region and Russia. With our roots in Finland, we now operate in 16 countries. Our high-quality products and extensive services ensure the best possible user experience in the market. Sustainable beauty since 1862.
www.tikkurilagroup.com (http://www.tikkurilagroup.com)
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Tikkurila Oyj via Globenewswire
