Companies Ilkka Group earnings warning: estimates that operating profit will decrease from last year

The Group estimates that its net sales will continue to increase from the previous year.

Ilkka Group issued a profit warning on Monday morning, according to which it estimates that the Group ‘s adjusted operating profit will decrease from the previous year.

In its interim report in May, the Group estimates that the adjusted operating profit from its own operations will remain at the previous year’s level. The Group’s net sales are expected to continue to increase from the previous year.

Last year, the Group’s net sales were EUR 45.8 million and the adjusted operating profit from own operations was EUR 1.8 million.

Last year, the cost savings of adjustment measures and other operational changes due to the coronavirus pandemic totaled EUR 2 million throughout the Group. No similar adjustment measures have been taken in the Group during the current year.

According to the company, this explains the estimated decline in operating profit for this year’s adjusted own operations.

The largest shareholders in the Ilkka Group are the media groups Keskisuomalainen with a holding of 11.67 per cent and Punamusta Media with a holding of 10.27 per cent.

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