The forest machine manufacturer is due to publish its January – March earnings report on Tuesday.
Forest machine manufacturer Ponsse warns that its operating profit this year will be “significantly” lower than last year’s EUR 75 million.
According to the company, its results are weighed down by the stagnation of Russian exports, problems with the availability of parts and components, and strong inflation.
Ponsse issued new earnings guidance on Monday. The company is due to publish its January – March earnings report on Tuesday.
At the beginning of March, Ponsse withdrew its earnings guidance for the current year due to uncertainties related to its business due to the Russian invasion of Ukraine and EU sanctions. The company then announced that it would not issue earnings guidance for the current year.
In March, the company suspended exports of forest machines and spare parts to Russia and Belarus for the time being. Sales in Russia and Belarus account for about 20 percent of the company’s net sales.
Initially, Ponsse estimates that its operating profit will be “at the same level” this year as last year.
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