24 March 2023
Purmo Group Plc, stock exchange release, 24 March 2023 at 9.30 a.m. EET
As earlier announced, Purmo Group provides restated financial information for 2022 reflecting the new segment reporting structure aligned with the new organisational structure. The new reporting segments are Climate Products & Systems and Climate Solutions, which have been effective from 1 January 2023. The company will publish its interim report for January-March 2023 based on the new segment reporting on 26 April 2023.
Climate Products & Systems
Climate Products & Systems division sells via wholesalers in both residential and non-residential sector. Sales regions are Northern, Western, Southern and Eastern Europe, and the rest of the world, including Brazil, China, Japan and the United States.
The main product categories within Climate Products & Systems are panel radiators, tubular radiators, and electric radiators. In addition, radiant heating and cooling (RHC), including underfloor heating, air heating and cooling, water distribution systems as well as system components and controls belong to the main product categories within Climate Solutions & Systems.
Climate Solutions division sells directly to installers from the company’s Emmeti business in South Europe, Thermotech business in the Nordic region and Merriott business in the United Kingdom. Climate Solutions provides integrated solutions, which include a comprehensive set of heating and cooling solutions for customers whose goal is to achieve energy savings and reduce the emissions generated by energy consumption.
Other and unallocated items
Other and unallocated items comprise of corporate headquarter functions and other Group level costs. The head office costs comprise mainly salaries, rent and professional fees that are operated for the benefit of the whole group and that are not allocated to divisions.
The restated financial information for 2022 is attached to the release. The information includes net sales, adjusted EBITDA as well as depreciation, amortisation and impairment of Climate Products & Systems and Climate Solutions divisions as well as Other and unallocated items. The restatement has no impact on the Group’s financial figures. The restated figures presented in the attachment are unaudited.
Katariina Kataja, Head of Investor Relations, Purmo Group Plc
Tel. +358 40 527 1427
Nasdaq Helsinki Ltd
About Purmo Group:
Purmo Group is at the centre of the global sustainability journey, offering full solutions and sustainable ways of heating and cooling homes to mitigate global warming. We provide complete heating and cooling solutions to residential and non-residential buildings, including underfloor heating and cooling systems, a broad range of radiators, heat pumps, flow control and hydronic distribution systems, as well as smart products. Our mission is to be the global leader in sustainable indoor climate comfort solutions. Our 3,400 employees operate in 24 countries, manufacturing and distributing top quality products and solutions to our customers in more than 100 countries. Purmo Group’s shares are listed on Nasdaq Helsinki with the ticker symbol PURMO. More information: www.purmogroup.com.