Lassila & Tikanoja updates its network
Lassila & Tikanoja Plc
July 27, 2021 at 7:55 am
Positive earnings warning: Lassila & Tikanoja updates its net sales outlook for 2021
Lassila & Tikanoja improves its revenue outlook for 2021.
The new perspectives are as follows:
Net sales in 2021 are expected to grow and adjusted operating profit is expected to be at or better than the previous year.
The previous outlook, published in the bulletin of accounts of January 28, 2021, was as follows:
Net sales in 2021 are estimated at the same level and adjusted operating income at the same level or better compared to the previous year.
The long-term financial goals of the company remain unchanged.
The COVID-19 pandemic affected all of Lassila & Tikanoja’s activities throughout the first half of the year and the demand for services was at times difficult to predict. In the second quarter, material volumes started to recover and the prices of secondary raw materials continued to recover. Demand in the industrial segment has been strong. Lassila & Tikanoja completed three business acquisitions in the second quarter, strengthening its position in food hygiene and retail environmental services and facilities in Finland, in line with L & T’s strategy. The combined net sales of the acquired businesses amounted to approximately 25 million euros in 2020. The acquisitions support the company’s goal of increasing its net sales organically and through acquisitions by more than 5% annually.
LASSILA & TIKANOJA Plc
President and CEO
For more information, please contact:
Eero Hautaniemi, President and CEO, tel. +358 10 636 2810
Valtteri Palin, Chief Financial Officer, Tel. +358 40 734 7749
Lassila & Tikanoja is a service company that puts the circular economy into practice. Together with our customers, we keep materials and properties in productive use for as long as possible and improve the use of raw materials and energy. It’s about creating more value with the circular economy for our customers, our staff and society at large. Achieving this goal also means growing value for our shareholders. Our goal is to continuously increase the carbon footprint of our actions, our positive effect on the climate. We assume our social responsibility by ensuring the work capacity of our staff as well as by offering jobs to those who have difficulty finding a job, for example. Present in Finland and Sweden, L&T employs 8,100 people. Net sales in 2020 amounted to € 751.9 million. L&T is listed on Nasdaq Helsinki.