LASSILA & TIKANOJA PLC COMPANY ANNOUNCEMENT 12 DECEMBER 2008 9.00 am
LASSILA & TIKANOJA'S FULL-YEAR OPERATING PROFIT EXCLUDING NON-RECURRING AND
IMPUTED ITEMS TO BE LOWER THAN ANTICIPATED
Market prices for recycled raw materials have declined and the decrease in the
demand has been steeper than anticipated. The volumes of recyclable raw
materials have also decreased to some extent. Production reductions in the
forest industry have been larger than expected. For the reasons mentioned
above, Lassila & Tikanoja's operating profit excluding non-recurring and
imputed items for the final quarter is estimated to be clearly lower than in
the previous year.
The full-year operating profit excluding non-recurring and imputed items is
estimated to be lower than anticipated. Previously the company estimated that
the full-year operating profit will be somewhat lower than in the previous
year. However, due to the non-recurring items the full-year earnings will
exceed those for the previous year.
The company will adapt its operations to the change in the market situation.
Lassila & Tikanoja plc's financial statements for the period 1 January - 31
December 2008 will be released on 10 February 2009 at 8.00 am.
LASSILA & TIKANOJA PLC
Jari Sarjo
President and CEO
For additional information please contact Jari Sarjo, President and CEO,
tel. +358 10 636 2810, and IR Manager Keijo Keränen, tel. +358 50 385 6957
Lassila & Tikanoja specialises in environmental management and property and
plant support services and is a leading supplier of wood-based biofuels,
recovered fuels and recycled raw materials. With operations in Finland, Sweden,
Latvia, Russia and Norway, L&T employs 9,500 persons. Net sales in 2007
amounted to EUR 555 million. L&T is listed on NASDAQ OMX Helsinki.
Distribution:
NASDAQ OMX Helsinki
Major media
www.lassila-tikanoja.com