Elektrobudowa cuts 2018 net profit forecast to PLN 27.3 mln
15:28
Elektrobudowa Group lowered its net profit forecast to PLN 27.3 million from PLN 46 million in 2018, the company said in a statement.
According to the new outlook, Elektrobudowa SA's net profit is to reach PLN 34.8 million, not PLN 41.9 million as assumed earlier. Elektrobudowa still sees 2018 revenue will amount to PLN 959.7 million at the group level and PLN 899.4 million in unconsolidated revenue.
The firm's management board decided “on the basis of the analysis of the anticipated performance of contracts performed by entities belonging to the capital group, a significant increase in costs on contracts performed, as well as the impact of the market environment on the financial results of the company and the capital group, lowering the net profit forecast."
