Uponor revises its guidance for 2021

Uponor Corporation     Inside information     17 March 2021     18:00 EET

Uponor revises its guidance for 2021

Uponor communicated in its financial statements bulletin on 11 February that the company has had a strong start for the year 2021. “Despite of the general economic uncertainties generated by the COVID-19 pandemic, the demand in Uponor’s key markets in Europe and North America has stayed on a good level. The activity in the North American residential building segment, in particular, continues on a high level. In addition, as commented in February, there were already some signs of increases in our input costs and we have seen this trend strengthening since then. We will mitigate this development with price increases, which will also contribute to the net sales. Therefore we are changing our guidance in respect of the net sales and maintain our earlier guidance in respect of the comparable operating profit,” says Jyri Luomakoski, President and CEO, Uponor Corporation.

New guidance is: Excluding the impact of currencies, Uponor expects its net sales to increase from 2020* and its comparable operating profit to decrease from 2020, but the comparable operating profit margin to remain above 10%. (*Increase indicates a growth of 2.5% or more)

The earlier guidance, issued on 11 February 2021, was: Excluding the impact of currencies, Uponor expects its net sales to stay at the level of the year 2020*. Uponor expects its comparable operating profit to decrease from 2020, but the comparable operating profit margin to remain above 10%. (*Stay at the level indicates a range of +/- 2.5% in comparison to the year 2020)

Uponor Corporation

Jyri Luomakoski

President & CEO

Tel. 4

DISTRIBUTION:

Nasdaq Helsinki

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Uponor in brief

Uponor is rethinking water for future generations. Our offering, including safe drinking water delivery, energy-efficient radiant heating and cooling and reliable infrastructure, enables a more sustainable living environment. We help our customers in residential and commercial construction, municipalities and utilities, as well as different industries to work faster and smarter. Uponor employs about 3,700 professionals in 26 countries in Europe and North America. In 2020, Uponor's net sales totalled approximately €1.1 billion. Uponor Corporation is based in Finland and listed on Nasdaq Helsinki.