Inside information, negative profit warning: Valmet estimates that Comparable EBITA in 2024 will remain at the previous year's level
ESPOO, Finland, Oct. 11, 2024 /PRNewswire/ --Valmet Oyj's stock exchange release (inside information) on October 11, 2024 at 4:05 p.m. EEST
Valmet changes its Comparable EBITA guidance for 2024. For net sales, the guidance remains unchanged.
The services market has developed somewhat slower in EMEA, China and Asia-Pacific than Valmet earlier expected. Furthermore, the market activity in board and paper process technologies has been slower than earlier expected and some customers have postponed their final investment decisions.
New guidance for 2024:
Valmet estimates that net sales in 2024 will remain at the previous year's level in comparison with 2023 (EUR 5,532 million) and Comparable EBITA in 2024 will remain at the previous year's level in comparison with 2023 (EUR 619 million).
Previous guidance for 2024, issued on June 13, 2024:
Valmet estimates that net sales in 2024 will remain at the previous year's level in comparison with 2023 (EUR 5,532 million) and Comparable EBITA in 2024 will increase in comparison with 2023 (EUR 619 million).
Thomas Hinnerskov, President and CEO:
"While we expect net sales and Comparable EBITA to remain at last year's level in 2024, we are fully committed to continuing the journey towards reaching Valmet's financial target of 12–14% Comparable EBITA."
Further information, please contact:
Pekka Rouhiainen, VP, Investor Relations, Valmet, tel. +358 10 672 0020
VALMET
Katri Hokkanen
CFO
Pekka Rouhiainen
VP, Investor Relations
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.valmet.com
Valmet has a global customer base across various process industries. We are a leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries, and with our automation and flow control solutions we serve an even wider base of process industries. Our more than 19,000 professionals around the world work close to our customers and are committed to moving our customers' performance forward – every day.
The company has over 220 years of industrial history and a strong track record in continuous improvement and renewal. Valmet's net sales in 2023 were approximately EUR 5.5 billion.
Valmet's shares are listed on the Nasdaq Helsinki and the head office is in Espoo, Finland.
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