HONKARAKENNE OYJ LOWERS ITS FINANCIAL GUIDANCE FOR 2024 AND PROVIDES PRELIMINARY INFORMATION ON ITS REVENUE AND PROFITABILITY FINANCIAL PERFORMANCE FOR THE FIRST HALF OF THE YEAR

HONKARAKENNE OYJ         Inside information         13 August 2024 at 18:00

INSIDE INFORMATION, PROFIT WARNING: HONKARAKENNE OYJ LOWERS ITS FINANCIAL GUIDANCE FOR 2024 AND PROVIDES PRELIMINARY INFORMATION ON ITS REVENUE AND PROFITABILITY FINANCIAL PERFORMANCE FOR THE FIRST HALF OF THE YEAR

Honkarakenne Oyj lowers its financial guidance for 2024.

Finland's historically weak construction economy, combined with the slow development of exports, has led to a smaller order book than expected.

Honkarakenne updates its financial guidance for 2024 published on 14 February 2024:

New guidance for 2024

According to Honkarakenne's view, the Group's net sales in 2024 will fall from the previous guidance and remain at EUR 38–44 million. The Group's operating profit will decrease and remain between EUR -2.2 and -0.8 million.

Previous guidance for 2024, published 14 February 2024

According to Honkarakenne's view, the Group's net sales in 2024 will be at the level of the previous year and amount to EUR 43-50 million. The Group's operating profit will be between EUR +/-0.0 and +0.5 million.

The company's view of the development in 2024 is based on the existing order book, the orders received during the summer and the view of the prolonged recovery of the operating environment and the market.

Preliminary information on first half 2024 financial performance

Based on preliminary and unaudited information, net sales were approximately EUR 14.5 million and comparable operating profit approximately EUR -2.7 million in the first half of 2024.

	1–6/2024	1–6/2023	1–12/2023
Net sales, EUR million	14.5	23.0	46.3
Operating profit/loss, EUR million	-2.7	-0.1	-0.1
Adjusted operating profit, EUR million	-2.7	0.3	0.3

Honkarakenne Group will publish its 2024 half-year financial report on Thursday 22 August 2024. The company does not comment on first-half preliminary information before publishing its half-year report.

HONKARAKENNE OYJ

Board of Directors

Further information
Marko Saarelainen, President and CEO, tel. [phone], [e-mail] or
Maarit Jylhä, CFO, tel. [phone], [e-mail]

DISTRIBUTION
Nasdaq Helsinki Ltd
Key media
Financial Supervisory Authority
www.honka.com

Honkarakenne Oyj manufactures high-quality, healthy and ecological log homes, holiday homes and public buildings under its Honka brand from Finnish solid wood. The company has delivered 90,000 buildings to over 50 countries. House kits are manufactured in Finland, the company's own factory is located in Karstula. In 2023, Honkarakenne Group's net sales were EUR 46.3 million, of which exports accounted for 31%. www.honka.com