Lamor Corporation Oyj

Lamor Corporation Plc's Half-Year Financial Report for 2024 highlights significant advancements in environmental protection projects, particularly in Saudi Arabia, demonstrating the success of their "Land and expand" growth strategy in the Middle East. Despite revenue and profitability being below the previous year's comparison period, they showed growth from the first quarter. Key achievements include a three-year service agreement worth EUR 55 million with NEOM Company and a four-month extension option for another major project in Saudi Arabia. The company also expanded into the Norwegian aquaculture industry and South American soil remediation business. Cumulative order intake in the first half of 2024 exceeded the full year of 2023, although geopolitical uncertainties affect tendering processes. Financially, revenue and profitability were impacted by project delays and cost updates, with a notable decrease in revenue and EBITDA compared to the previous year. Lamor continues to focus on improving operational efficiency and profitability through its Next leap program. The company maintains its revenue guidance for 2024 but does not provide profitability guidance due to market uncertainties. No significant events occurred after the reporting period. A webcast for shareholders, analysts, and media will be held on 25 July 2024.

Lamor Corporation Plc announced its Half-Year Financial Report for 2024, highlighting significant advancements in environmental protection projects in Saudi Arabia, including a major EUR 55 million service agreement with NEOM Company. The company's "Land and expand" strategy has shown effectiveness in the Middle East, Norway, and South America. Despite revenue and profitability being below the comparison period, they improved from the first quarter of the year. The report notes geopolitical uncertainties affecting tenders and financial stability, impacting revenue. Key financial figures showed a decline in revenue and profitability compared to the previous year. The company continues to focus on cost management and operational efficiency. No significant events occurred after the reporting period. Lamor maintains its revenue guidance for 2024 but does not provide profitability guidance due to market uncertainties. The full report is available on Lamor's website.

On June 18, 2024, at 1:30 p.m. EEST, Lamor Corporation Plc announced a managers' transaction involving Johan Grön, the Chief Executive Officer. The notification, identified by reference number 66526/9/6, reports an acquisition of shares. The transaction took place on June 17, 2024, at NASDAQ Helsinki Ltd (XHEL), involving 71,400 shares at a unit price of 2.1 EUR, resulting in a total transaction volume weighted average price of 2.1 EUR. For further information, contact Johanna Grönroos, CSO of Lamor Corporation Plc. Lamor Corporation is a leading provider of environmental solutions, specializing in oil spill response, waste management, water treatment, soil remediation, and plastic recycling, with operations in over 20 countries and a 2023 turnover of 123 million euros. Lamor's shares are listed on Nasdaq Helsinki under the ticker LAMOR.

On June 18, 2024, Lamor Corporation Plc reported a transaction involving the Larsen Family Corporation Oy, a legal entity closely associated with Fred Larsen, a member of Lamor's Board. The transaction, which took place on June 17, 2024, involved the disposal of 71,400 shares at a unit price of 2.1 EUR on Nasdaq Helsinki. Lamor Corporation is a global provider of environmental solutions, specializing in oil spill response, waste management, water treatment, soil remediation, and plastic recycling. The company employs over 600 people in more than 20 countries and had a turnover of 123 million euros in 2023. Lamor's shares are listed on Nasdaq Helsinki under the ticker LAMOR.

On June 18, 2024, at 1:30 p.m. EEST, Lamor Corporation Plc announced a manager's transaction involving the Larsen Family Corporation Oy, a legal entity closely associated with Fred Larsen, a member of Lamor's Board. The transaction, which occurred on June 17, 2024, involved the disposal of 71,400 shares at a unit price of 2.1 EUR on NASDAQ Helsinki. The volume-weighted average price was 2.1 EUR. For further information, Johanna Grönroos, CSO of Lamor Corporation Plc, can be contacted. Lamor Corporation is a leading provider of environmental solutions with over 600 employees in more than 20 countries and a turnover of 123 million euros in 2023. The company's shares are listed on Nasdaq Helsinki under the ticker LAMOR.

On June 18, 2024, at 1:30 p.m. EEST, Lamor Corporation Plc reported a transaction involving its Chief Executive Officer, Johan Grön. The notification, identified by reference number 66526/9/6, detailed an acquisition of shares on June 17, 2024, at NASDAQ Helsinki. The transaction involved 71,400 shares at a unit price of 2.1 EUR, resulting in a volume-weighted average price of 2.1 EUR. Lamor Corporation is a leading provider of environmental solutions, specializing in services such as oil spill response, waste management, and soil remediation. The company operates globally with over 600 employees in more than 20 countries and had a turnover of 123 million euros in 2023. Lamor's shares are listed on Nasdaq Helsinki under the ticker LAMOR. Further information can be found on their website, lamor.com.

Lamor Corporation Plc has been awarded a significant environmental protection project by NEOM Company in Saudi Arabia's Western Province. The contract, valued at approximately 55 million euros, will last at least three years and includes oil spill response preparedness services and technology. Lamor will provide risk assessments, gap analyses, contingency planning, oil spill surveillance, and set up two oil spill response stations with necessary personnel and equipment. This project is part of the NEOM regional development scheme and aims to protect the local ecosystem. Lamor’s CEO, Johan Grön, highlighted the project as a key milestone in the company's growth strategy and its commitment to Saudi Arabia. The project will be added to Lamor’s order backlog and commence in the second quarter of 2024. Lamor's revenue guidance for 2024 remains unchanged from 2023. Lamor is a global leader in environmental solutions with a turnover of 123 million euros in 2023 and is listed on Nasdaq Helsinki.

Lamor Corporation Oyj announced that it has been awarded a significant environmental protection project by NEOM Company in Saudi Arabia's Western Province. The project, valued at approximately 55 million euros, will last for at least three years and includes oil spill response preparedness services and technology. Lamor's responsibilities will encompass risk assessment, gap analysis, contingency planning, oil spill surveillance, and establishing two fully equipped oil spill response stations. These efforts aim to protect the unique ecosystem and biodiversity of the NEOM development area. The project will commence in the second quarter of 2024 and will be added to Lamor’s order backlog. The contract does not impact Lamor's revenue guidance for 2024, which is expected to be at least the same as in 2023. Lamor is a leading provider of environmental solutions with a global presence and a turnover of 123 million euros in 2023.