Outlook

Outlook for 2024

 
Financial statements release January - December 2023,  February 15, 2024

Due to the updated strategy and the nature of the business, Partnera does not provide a short-term outlook.

The construction business cycle is expected to remain challenging in 2024, but Foamit Group's market position is expected to remain strong, as the infrastructure construction market, which is more important to the company, is expected to remain above the residential construction market.

 

Outlook for 2023

 
Half-year report January - June 2023, August 24, 2023

Partnera announced on June 29, 2023 that it will update its strategy. Partnera's strategy is to own and develop industrial companies that support the building of a sustainable future, in particular the circular economy. Ownership can vary in size and ownership structure, including minority shareholdings. Partnera will review the status and situation of its holdings and their fit with the company's refined strategy.

Due to the strategy update, Partnera does not provide a short-term outlook.

 

Financial statements release March 3, 2023 (load pdf)

Partnera is not specifying its outlook for 2023 for the time being due to the uncertainties associated with the KPA Unicon business.

 

Outlook for 2022

 
Company announcement August 25, 2022

Partnera reinstates outlook for 2022

Partnera withdrew its outlook for 2022 on June 30, 2022 due to the difficulties in business development predictability. On August 25, 2022, the company decided to reinstate its outlook for 2022 as a result of improved predictability.

New outlook for 2022

Partnera estimates the net sales of 2022 to grow from the previous year (EUR 78.2 million in 2021) and the comparable operating profit for 2022 will show a significant loss. However, the company expects that the comparable operating profit for the second half of 2022 will be better than the first.

The development of net sales and comparable operating profit still involve significant uncertainties, which are related to the completion of KPA Unicon’s large international projects and KPA Unicon’s funding situation. KPA Unicon is continuing negotiations with customers, suppliers and financiers for the company’s funding. Growing uncertainty in the development of the global economy and general political situation hamper predictability.

 

Company announcement June 30, 2022

Partnera withdraws outlook and provides advance information on the profit for the first half-year

Partnera is withdrawing its outlook for 2022 due to the difficulties in business development predictability, and estimates that the comparable operating profit of January–June 2022 will be negative.

In connection with the profit warning given on May 24, 2022, Partnera announced that its subsidiary KPA Unicon has had supply difficulties in its projects, and that the profitability of Partnera’s subsidiary Foamit Group has been weakened by elevated energy costs and the slowing of infrastructure construction in Finland.

KPA Unicon’s continuing supply difficulties, especially in the final phase of international projects, transitioning to some new projects, and losing some project tenders have further weakened the evaluation of the company’s business development. Due to the difficulties in the project business and the large amount of accounts receivable, KPA Unicon’s liquidity has weakened, despite newly won projects. The overall effect of KPA Unicon’s situation on Partnera’s financial predictions is difficult to estimate due to the ongoing negotiations. KPA Unicon is continuing negotiations with customers, suppliers and financiers in order to find a solution. On May 31, 2022, KPA Unicon’s order book totaled about EUR 54 million (EUR 56 million on May 31, 2021).

Foamit Group’s profitability has been weakened by rises in energy and raw material costs, as well as the slowing of infrastructure construction in Finland. On May 31, 2022, Foamit Group’s order book totaled about EUR 21 million (EUR 11 million on May 31, 2021).

As previously announced, the business development of subsidiaries has also been affected by the slowing of decision-making and rises in prices connected to the COVID-19 pandemic during 2021. Russia’s war of aggression against Ukraine has pushed uncertainty and costs of materials even further, raising the price of steel in particular.

Partnera estimates that the comparable operating profit for January–June 2022 will be negative due to the weakened performance of both subsidiaries in the beginning of the year. In January–June 2021, the comparable operating profit was EUR 1.2 million, which included the profit from KPA Unicon, starting from the acquisition on May 1, 2021. Partnera will release the January–June 2022 half-yearly report on Thursday August 25, 2022.
 

Company announcement May 24, 2022

Profit warning: Partnera Oyj lowers its profit guidance and estimates that operational comparable operating profit will be lower than the previous year

Partnera estimates that the net sales of 2022 will grow from the previous year (EUR 78.2 million in 2021) and that the comparable operating profit will be smaller than the previous year (EUR 5.2 million in 2021).The estimated growth in net sales is primarily in connection with the acquisitions made in 2021. The development of the operations of the companies belonging to the Group have a vital impact on Partnera’s profit. In addition to the development of our companies, the profitability of the companies is impacted by the overall development of the industries and business environments. Russia’s war of aggression against Ukraine and the COVID-19 pandemic increase uncertainty in predicting development.

Previous outlook for 2022 (financial statement announcement February 15, 2022):Partnera estimates that the net sales for 2022 will grow from the previous year (EUR 78.2 million in 2021) and that the comparable operating profit will be greater than the year before (EUR 5.2 million in 2021).

The estimated growth in net sales is primarily in connection with the acquisitions made in 2021.

The development of the operations of the companies belonging to the Group have a vital impact on Partnera’s profit. In addition to the development of our companies, the profitability of the companies is impacted by the overall development of the industries and business environments. The COVID-19 pandemic increases uncertainty in predicting development.
 

Outlook for 2021

Company announcement April 28, 2021

Partnera provides financial guidance for 2021

Partnera estimates that the net sales for 2021 will grow significantly from the previous year (EUR 51.5 million in 2020) and that the comparable operating profit will be greater than the year before (EUR 5.0 million in 2020). 

The comparable operating profit for 2020 does not include the reported nonrecurring items, which included EUR 0.6 million in costs for listing the parent company on the stock exchange and the profits of EUR 3.1 million from selling the Arkistokatu 4 property.

A large part of the expected rise in net sales is in connection with the acquisition announced on April 28, 2021, through which Partnera will become the main owner of KPA Unicon.