Pihlajalinna Oyj: Insider information, positive profit warning: Pihlajalinna upgrades its profitability guidance for 2024 and provides preliminary information on revenue and profitability for the third quarter of 2024

Insider information, positive profit warning: Pihlajalinna upgrades its profitability guidance for 2024 and provides preliminary information on revenue and profitability for the third quarter of 2024
Pihlajalinna's determined measures to improve organic growth and profitability have progressed well. Therefore, the Group upgrades its estimate for profitability. Pihlajalinna expects the adjusted EBITA to increase to EUR 53-56 million (EUR 37.8 million in 2023) in 2024. The revenue outlook remains unchanged.

Pihlajalinna's outlook for 2024, upgraded

In 2024, Pihlajalinna will focus on organic growth and improving its profitability and financial position.

• The Group expects the consolidated revenue to decrease from the previous year's level (EUR 720.0 million in 2023) due to the cost liability for demanding specialised care being transferred to the well-being services county of South Ostrobothnia on 1 January 2024.
• The Group expects the adjusted operating profit before the amortisation and impairment of intangible assets (EBITA) to increase to EUR 53-56 million (EUR 37.8 million in 2023).

The Group expects the demand to remain steady.

Slowed economic growth and weakened consumer confidence may affect Pihlajalinna's service demand and financial result.

Previous guidance (issued on 17 July 2024, repeated 9 August 2024)

In 2024, Pihlajalinna will focus on organic growth and improving its profitability and financial position.

• The Group expects the consolidated revenue to decrease from the previous year's level (EUR 720.0 million in 2023) due to the cost liability for demanding specialised care being transferred to the well-being services county of South Ostrobothnia on 1 January 2024.
• The Group expects the adjusted operating profit before the amortization and impairment of intangible assets (EBITA) to exceed EUR 48 million (EUR 37.8 million in 2023).

The Group expects the demand to remain steady.

Slowed economic growth and weakened consumer confidence may affect Pihlajalinna's service demand and financial result.

Preliminary information on revenue and profitability for the third quarter of 2024

Based on preliminary unaudited information, third quarter revenue was EUR 164.0 million (EUR 165.6 million in Q3 2023), and adjusted EBITA was EUR 13.5 million (EUR 9.6 million in Q3 2023).

Pihlajalinna will publish its Interim Report for January-September 2024 on 7 November 2024.

Pihlajalinna Plc

Further information: 

Tuula Lehto, Chief Communications and Sustainability Officer 
tel. +358 40 588 5343, tuula.lehto@pihlajalinna.fi

Distribution

Nasdaq Helsinki Ltd.
Key media
investors.pihlajalinna.fi