Ponsse cuts its guidance for 2023. The company’s Euro-denominated operating profit in 2023 is expected to be on a par with the operating profit of its continuing operations in 2022 (Euro 46.6 million).
Persistent inflation has continued to impact the profitability of the business. As we enter a weakening economic cycle, the company's profitability is impacted by the exit from the Russian business and challenges in the organizational cost structure. The company's revenue growth has come from less profitable market areas.
Profitability has been affected by operational expenses growing faster than the company's revenue and slower-than-expected improvement of the operational challenges of Ponsse's subsidiary, Ponsse Latin America Ltda.
Ponsse Plc is a company specialising in the sales, manufacture, servicing and technology of cut-to-length method forest machines.
