Lehto has issued a result warning.
Construction company Lehto has announced a profit warning on Thursday evening. The listed company estimates that its operating result will be more than 27 million euros in loss this year, and that the turnover from continuing operations will decrease by more than ten percent from last year.
Lehto’s turnover was 404.1 million euros in 2021.
The construction company’s profit warning partly tells about the weakening of the construction market situation. Lehto says that behind the weakened outlook are the delays in the sale of its balance sheet assets and the lower-than-anticipated sales prices.
Previously, Lehto had estimated that this year the turnover of its continuing operations would be slightly lower than last year and that the operating result would be around EUR 15–20 million in loss.
According to Lehto, the estimate is based on the company’s assessment of the progress of ongoing construction projects and the development of the housing market, as well as construction sites to be started and sold during this year.
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