Tikkurila lowers its guidance for 2017

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.

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