TIKKURILA OYJ Tikkurila Oyj
Stock Exchange Release
July 13, 2017 at 3:00 p.m. (CET+1)
Tikkurila lowers its guidance for 2017
Tikkurila lowers the guidance for 2017 revenue and adjusted operating profit. The changed outlook is resulting from the problems relating to the implementation of the new Enterprise Resource Planning (ERP) system, poor weather conditions and increase in raw material costs.
During the second quarter, Tikkurila suffered from severe shortages of certain raw materials caused partly by the implementation of the new ERP system and partly by the general raw material availability issues on the market. Thus, Tikkurila has not been able to fully meet the market demand and sales volumes were at a lower level than anticipated in the second quarter.
The updated guidance for 2017 is as follows:
Tikkurila expects its revenue to remain at last year's level and adjusted operating profit for the financial year 2017 to remain below the 2016 level.
Previous guidance announced on February 9, 2017:
Tikkurila expects its revenue and adjusted operating profit for the financial year 2017 to increase from the 2016 level.
For further information, please contact:
Erkki Järvinen, President and CEO
Mobile +358 400 455 913, erkki.jarvinen@tikkurila.com
Minna Avellan, Director, Communications and Investor Relations
Mobile +358 40 533 7932, minna.avellan@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 14 countries. Our high-quality products and extensive services ensure the best possible user experience in the market. Sustainable beauty since 1862.
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
