Uponor issues a new guidance for 2022

Uponor Corporation, Inside information, 19 December 2022 at 19:00 EET

Uponor issues a new guidance for 2022

On 21 November 2022, following the cyberattack against Uponor that occurred on 5 November 2022, Uponor withdrew its guidance for 2022 until more precise visibility on the expected impact of the attack on Uponor’s Q4 2022 development becomes available.

After the attack, the company took immediate actions to investigate and remediate the situation. One of these actions was to shut down all systems and production as a precautionary measure. After one week of production shutdown, operating levels started to recover, and they have been back at normal levels since the beginning of December.

The financial impact of the attack is therefore limited to the month of November. However, as the attack happened close to the end of the year, the ability to compensate for lost sales and margin coverage during the rest of the year is limited, and the Q4 2022 comparable operating profit is expected to be at the breakeven level.

New guidance for 2022 (as per 19 December 2022):
Uponor expects its net sales to stay at the level of year 2021. The comparable operating profit is expected to decrease compared to year 2021 and stay at the level of the first nine months of year 2022. (Stay at the level indicates a range of +/- 2.5%.)

Previous guidance for 2022 (as stated in the January−September 2022 interim report on 4 November 2022; withdrawn on 21 November 2022):
Excluding the impacts of currencies, Uponor expects its net sales and comparable operating profit to increase from 2021. (Increase indicates a growth of 2.5% or more.)

Uponor considers the cyberattack and the data breach serious criminal acts. The company has reported the incident to the police and the data protection authorities. As the case is under police investigation, Uponor does not comment on the matter any further.

Further information:
Franciska Janzon
Senior Vice President, Corporate Communications & IR
Uponor Corporation
Tel. +358 (0)20 129 2821

Nasdaq Helsinki
Major media

Uponor in brief
Uponor is one of the leading international providers of solutions that move water for buildings and infrastructure. The company is rethinking water for future generations with its safe drinking water delivery systems, energy-efficient radiant heating and cooling systems, and reliable infrastructure solutions. With a commitment to sustainability and a passion for innovation, Uponor is developing new technologies and systems that enrich people’s lives. 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 3,900 professionals in 26 countries in Europe and North America and Uponor’s products are sold in more than 80 countries. In 2021, Uponor's net sales totalled approximately €1.3 billion. Uponor Corporation is based in Finland and listed on Nasdaq Helsinki. www.uponorgroup.com