Uponor Corporation Stock exchange release 26 January 2016 9.30 EET
Preliminary information: Uponor’s full-year 2015 results better than September 2015 guidance
On 30 September 2015, Uponor issued a stock exchange bulletin stating that its full-year 2015 operating profit, excluding any non-recurring items, would remain somewhat below that of 2014. This was in contrast with the then current guidance that suggested that the Group’s operating profit (excluding any non-recurring items) would improve from 2014. The profit warning was mainly driven by the subdued demand in the European building and civil engineering markets after the holiday season.
In November and December 2015, however, partly driven by weather conditions that were favourable for construction activity, demand for Uponor’s solutions exceeded expectations in key European markets. Uponor’s fourth quarter 2015 net sales and operating profit therefore developed better than anticipated.
According to current forecasts, Uponor’s consolidated full-year 2015 net sales is estimated to be close to €1,050 million (2014: €1,024m) and reported operating profit is at around €71 million (€63.4m). The operating profit for 2015 will be burdened by non-recurring costs from previously announced restructuring programmes at circa €6.2 million. Operating profit also includes gains from the divestments of Uponor Infra’s Thai and Extron units and its sale of the Omega-Liner business, totalling €1.9 million.
Uponor will publish its financial statements bulletin for 2015 on 12 February 2016, at which point it will also issue guidance for 2016.
Owing to the silent period until 12 February 2016, no further information is available.
Uponor Corporation
Tarmo Anttila
Vice President, Communications
Tel. +358 20 129 2852
DISTRIBUTION:
Nasdaq Helsinki
Media
www.uponor.com
Uponor is a leading international systems and solutions provider for safe drinking water delivery, energy-efficient radiant heating and cooling and reliable infrastructure. The company serves a variety of building markets including residential, commercial, industrial and civil engineering. Uponor employs about 3,800 employees in 30 countries, mainly in Europe and North America. In 2014, Uponor's net sales exceeded €1 billion. Uponor is based in Finland and listed on Nasdaq Helsinki. www.uponor.com
Preliminary information: Uponor’s full-year 2015 results better than September 2015 guidance
| Source: Uponor Oyj