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Ponsse discontinues all operations in Russia and withdraws its profit guidance
Ponsse Plc has decided today to discontinue temporarily all export operations to Russia and Belarus for both PONSSE forest machines and their spare parts. Also the Ponsse Group's Russian subsidiary OOO Ponsse is discontinues temporarily its local spare parts and service operations. Sales in Russia and Belarus account for about 20 percent of the company's net sales calculated from the 2021 financial statements.
At the same time, Ponsse Plc withdraws its profit guidance for the current year. The new profit quidance is linked to the uncertainties caused by Russia's invasion of Ukraine and EU sanctions. The company announces that it will not provide new guidance for the current year. In accordance with the previous profit quidance, Group´s euro-denominated operating result in 2022 is estimated to be on a par with 2021.
In this challenging situation, Ponsse also strives to take care of the OOO Ponsse's personnel.
Vieremä, 2 March 2022
President and CEO
Juho Nummela, President and CEO, tel. +358 400 495 690
NASDAQ OMX Helsinki Ltd
Ponsse Plc is a company specialising in the sales, manufacture, servicing and technology of cut-to-length method forest machines and is driven by genuine interest in its customers and their business. Ponsse develops and manufactures sustainable and innovative harvesting solutions based on customers’ needs.
The company was established by forest machine entrepreneur Einari Vidgrén in 1970, and it has been a leader in timber harvesting solutions based on the cut-to-length method ever since. Ponsse is headquartered in Vieremä, Finland. The company’s shares are quoted on the NASDAQ OMX Nordic List.