Honkarakenne Oyj

HONKARAKENNE OYJ Inside information 3 February 2021 at 10:30 a.m.

HONKARAKENNE INCREASES ITS PROFIT FORECAST FOR 2020

Honkarakenne estimates that in 2020 its revenue (net sales) will be higher and adjusted profit before taxes will be at the same level as in the previous year. The reason for the better-than-expected development is the higher-than-expected volume towards the end of the year and the growth of Russian exports.

Honkarakenne's updated outlook: In Honkarakenne's view, in 2020 revenue (net sales) will increase from the previous year and adjusted profit before taxes will be on par with previous year.

Honkarakenne's previous outlook was as follows: Honkarakenne’s view is that revenue (net sales) in 2020 will be on par with previous year. Adjusted profit before taxes is however weaker than previous year.

Honkarakenne Oyj

Marko Saarelainen
President and CEO

FURTHER INFORMATION
Marko Saarelainen, President and CEO, tel. +358 40 542 0254, marko.saarelainen@honka.com or
Leena Aalto, Vice President – Finance, CFO, tel. +358 40 769 4590, leena.aalto@honka.com

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

Under its Honka® brand, Honkarakenne manufactures high-quality, healthy and ecological detached houses, holiday homes and public buildings using Finnish solid wood. The company has delivered 85,000 buildings to more than 50 countries. House packages are made in Finland, the companys’s own factory is located in Karstula, Finland. In 2019, the Honkarakenne Group had revenue (net sales) of MEUR 47.5, of which exports accounted for 34%. www.honka.com