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.