Uponor Corporation Inside information 16 September 2020 15:00 EET
Uponor reinstates its guidance statement for 2020
On 19 March 2020, Uponor withdrew its guidance for 2020 due to lack of visibility on the potential impacts of COVID-19 on comparable operating profit.
In the second quarter, the overall market slowness created by COVID-19 restrictions and related economic uncertainty impacted negatively on Uponor’s net sales. However, Uponor’s profitability improved due to tight cost control, favourable input costs and the operational excellence programme.
“The uncertainties related to the market outlook for the second half of 2020 and weak visibility of demand have remained. However, the favourable drivers, already seen in the second quarter, have continued to impact positively on our comparable operating profit. Our profitability development during the third quarter has continued on a similar level than during the second quarter in comparison to 2019. Therefore we reinstate our guidance statement for 2020,” comments Jyri Luomakoski, President and CEO, Uponor.
Uponor’s guidance statement for 2020:
Uponor expects comparable operating profit to improve from 2019.
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Uponor in brief
Uponor is rethinking water for future generations. Our offering, including safe drinking water delivery, energy-efficient radiant heating and cooling and reliable infrastructure, enables a more sustainable living environment. We help our customers in residential and commercial construction, municipalities and utilities, as well as different industries to work faster and smarter. Uponor employs about 3,800 professionals in 26 countries in Europe and North America. In 2019, Uponor's net sales totalled approximately €1.1 billion. Uponor Corporation is based in Finland and listed on Nasdaq Helsinki. www.uponor.com