Helsinki, Finland, 2012-01-23 11:58 CET (GLOBE NEWSWIRE) -- Finnlines Plc Stock Exchange Release January 23, 2012 at 13:00
FINNLINES PLC OUTLOOK FOR 2011
The Board of Directors published on the 8th of November 2011 the latest outlook for the calendar year 2011. The Board expected then that the comparable result in 2011 will improve from the previous year, despite the challenges in 2011.
The Board can state now that the comparable result for 2011 will be lower than in 2010. In particular it states that the EBITDA is forecasted to be a little bit less than previous year instead of being higher, as forecasted before.
Main reasons are:
1. TURNOVER: volumes were lower than the ones anticipated due to European and market crisis.
2. COSTS: bunker price level was higher than anticipated and it is not yet fully recovered by clients in several lines and business.
Finnlines Plc
Board of Directors
Uwe Bakosch
President and CEO
Distribution OMX Helsinki Stock Exchange
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