Here are Ronin’s comments on Terveystalo’s profit warning.
Yesterday, Terveystalo issued a negative profit warning, in which the company lowered its earnings guidance for the current year due to a weak demand environment and tightened price competition. Our forecasts already included a lowering of the guidance, and the factors behind the profit warning were also expected as such. However, the profit warning came slightly earlier than we had suspected, and the midpoint of the new guidance range is still slightly below our forecasts and more clearly below consensus estimates. At the same time, the company released preliminary Q2 figures, which fell clearly short of our and consensus estimates. We will review our forecasts after the company’s Q2 report is published on Friday.