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Lassila & Tikanoja's full-year result to be lower than anticipated

  • 1 min read
Lassila & Tikanoja's earnings per share for the second quarter were EUR 0.20,   
the same as in the previous year. The full-year financial result is estimated to
be lower than in the previous year, though the operative result for the final   
half of the year is expected to remain on the same level as in the previous     
year. Previously the company estimated that the full-year financial performance 
will improve. Full-year net sales are still estimated to increase by clearly    
more than 20%.                                                                  

The performance is burdened by the losses of the landfill contracts of joint    
venture Salvor Oy and the loss on the disposal of this business operation, the  
combined effect on the result being until now EUR 1.5 million. The final amount 
of the disposal loss will be determined by the end of the year, when the        
unfinished contracts are finished. The performance is also burdened by imputed  
changes in the fair values of oil derivatives of joint venture L&T Recoil Oy    
amounting to EUR 1.7 million. The total effect of these items on the earnings   
per share for the first six months is EUR 0.07.                                 

The operating profit for the final half of the previous year was boosted by     
non-recurring gains on disposals and imputed changes in the fair values of oil  
derivatives, totalling EUR 2.9 million.                                         

Interim report for the period 1 January - 30 June 2007 will be released on 31   
July at 8.00 am.                                                                

LASSILA & TIKANOJA PLC                                                          

Jari Sarjo, President and CEO                                                   

For further information, please contact Jari Sarjo,                             
President and CEO, tel. +358 10 636 2810, GSM +358 500 405 465.