Lamor Corporation Oyj

Lamor Corporation Plc has secured an EUR 8 million order from Kuwait for environmental protection technology aimed at safeguarding marine life and the Arabian Gulf's shores. This order, included in Lamor's first-quarter 2025 backlog, will be delivered in the latter half of the year. This deal enhances Lamor's presence in the Middle Eastern market and aligns with its strategy for profitable growth in environmental protection. Lamor, a leading global provider of environmental solutions, offers technologies for oil spill response, waste management, and more, with operations in over 20 countries and a 2023 turnover of 123 million euros.

Lamor Corporation Plc has finalized an agreement with NEOM Company to supply oil spill response technology valued at EUR 9 million. This agreement adjusts Lamor's order backlog to reflect the total value of the deal. The technology delivery has begun and is expected to be completed in early 2025, with most payments occurring in the fourth quarter of 2024. This transaction is anticipated to positively affect Lamor's working capital and cash position. Previously, Lamor was selected by NEOM for a significant environmental project in Saudi Arabia, valued at approximately EUR 55 million. Lamor is a leading provider of environmental solutions, specializing in oil spill response, waste management, and more, with over 600 employees in 20+ countries. In 2023, Lamor's turnover was 123 million euros, and its shares are listed on Nasdaq Helsinki.

Lamor Corporation Plc has announced a revision of its 2024 financial guidance due to extended NEOM negotiations and delays in large deliveries scheduled for the fourth quarter. The company now expects its revenue and adjusted EBIT for 2024 to be lower than the previous year, where revenue was EUR 122.5 million and adjusted EBIT was EUR 10.9 million. Previously, Lamor anticipated 2024 revenue to match or exceed 2023 levels. Due to market uncertainties and the scheduling of large tenders, Lamor has not provided profitability guidance. Lamor specializes in environmental solutions, including oil spill response and waste management, and operates in over 20 countries with more than 600 employees. Its shares are listed on Nasdaq Helsinki. For more details, contact CFO Mikko Forsell.

Lamor Corporation Plc has announced changes to its Global Leadership Team. Jesus Pelayo has been appointed as Senior Vice President (SVP) for the South and North America market area, effective January 1, 2025. Richard Hill has been named Chief Operating Officer (COO) as of November 13, 2024. Both will join Lamor's Group Leadership Team. The company aims to streamline operations by consolidating all operational and sales support functions under the COO, enhancing customer-centricity and internal coordination. Richard Hill's extensive experience at Lamor includes a successful project with Saudi Arabia's National Center for Environmental Compliance and leadership roles in international oil spill response companies. Jesus Pelayo brings over 20 years of sales leadership experience from companies like Outotec and Outokumpu. He will succeed Santiago Gonzalez, who will retire but remain in an advisory role. Additionally, Johanna Grönroos and Juha Korhonen will leave the company. Lamor, a leading provider of environmental solutions, employs over 600 people in more than 20 countries and had a turnover of 123 million euros in 2023. The company's shares are listed on the Nasdaq Helsinki.

Lamor Corporation Plc has secured a three-year contract worth over EUR 2 million to provide environmental protection services in Colombia. The agreement involves offering emergency response services for hydrocarbon spills in oil fields across various Colombian regions. Lamor will collaborate with SOS Contingencias, a local emergency services company, to deliver these services. The contract includes technical support, spill control training, contingency plan updates, and periodic reviews. Lamor has been involved in similar projects since 2019, demonstrating its expertise in oil spill response technology. The company recently announced a similar agreement in Peru and continues to expand its environmental services globally. Lamor is a leading provider of environmental solutions, with operations in over 20 countries and a turnover of 123 million euros in 2023. The company's shares are listed on Nasdaq Helsinki.

Lamor Corporation Oyj reported high levels of new orders in the third quarter of 2024, with increased revenue and profitability compared to the previous quarter, although both slightly decreased from the same period last year due to higher revenue recognition from a Kuwait project during that time. Despite this, revenue excluding major service projects increased, and new orders exceeded EUR 35 million, driven by projects in South America. Lamor is in negotiations with NEOM Company regarding a proposed reduction of responsibilities, with an order of approximately EUR 55 million in the backlog. The company completed a major project establishing oil spill response bases in Saudi Arabia and is pursuing new opportunities in the Middle East. Challenges in Kuwait's soil remediation project are being addressed to improve cash flow. The company is progressing with a chemical recycling facility, with production expected to start in early 2025. Lamor is updating its growth strategy and has appointed new senior vice presidents to strengthen its market presence. The company has updated its disclosure policy and announced changes in its leadership team. Financial reports for 2025 are scheduled, and a webcast for shareholders and analysts was arranged for 24 October 2024. Lamor is a leading provider of environmental solutions, focusing on environmental protection, soil remediation, and material recycling, with operations in over 20 countries.

Lamor Corporation Plc reported high levels of new orders in the third quarter of 2024, with increased revenue and profitability compared to the previous quarter. However, both metrics slightly decreased from the same period last year, mainly due to prior high revenue from the Kuwait soil remediation project. Excluding major service projects, revenue increased, driven by strong market demand and new orders, particularly from South America. The company is updating its growth strategy to capitalize on this demand. Lamor is negotiating with NEOM Company regarding a reduction in responsibilities, with an order worth approximately EUR 55 million in the backlog. The company successfully completed major projects, including establishing oil spill response bases in Saudi Arabia. Lamor is advancing its chemical recycling plant, expecting production to start in early 2025. The company updated its disclosure policy and appointed two new senior vice presidents to strengthen customer relationships. Financial reports for 2025 will be published in April, with the Annual General Meeting tentatively scheduled for April 28. Lamor is a leading provider of environmental solutions, with over 600 employees in more than 20 countries, listed on the Nasdaq Helsinki.

Lamor Corporation Plc announced its financial calendar for 2025, stating that the annual report for 2024 will be available on its website by April 7, 2025. The Annual General Meeting is tentatively set for April 28, 2025, with formal details to be provided later by the Board of Directors. For inquiries, contact Tapio Pesola, Director of Investor Relations and Communications. Lamor is a leading global provider of environmental solutions, specializing in oil spill response, waste management, water treatment, soil remediation, and plastic recycling. The company operates in over 20 countries with more than 600 employees and reported a turnover of 123 million euros in 2023. Lamor's shares are listed on Nasdaq Helsinki.

Lamor Corporation Oyj has announced its financial calendar and plans for its annual general meeting in 2025. The company intends to publish its 2024 annual report, including financial statements and a report by the Board of Directors, by April 7, 2025, at the latest. The Annual General Meeting is tentatively set for April 28, 2025, with further details to be provided by the Board of Directors. Lamor is a leading provider of environmental solutions, focusing on environmental protection, soil remediation, and material recycling. The company operates globally with over 600 employees in more than 20 countries and reported a turnover of 123 million euros in 2023. Lamor's shares are listed on the Nasdaq Helsinki. For more information, contact Tapio Pesola, Director of Investor Relations and Communications.

Lamor Corporation Plc announced changes to its Group Leadership Team, appointing two new Senior Vice Presidents (SVPs) to enhance customer relationships and market focus. The new appointments aim to improve local market understanding and customer engagement, supported by the global rise in environmental regulations. James, with a background in oil spill response, and Al-Othman, with experience in innovation commercialization, join the team. Current SVPs for Europe, Asia, the Middle East, and Africa, Östen Lindell and Pentti Korjonen, will leave their positions, while Santiago Gonzalez, leading the Americas, plans to retire. Lamor will provide further updates during its Q3 results announcement on October 24, 2024. Lamor is a global leader in environmental solutions, with operations in over 20 countries and a 2023 turnover of 123 million euros.