Purmo Group suspends all sales and operations in Russia

Purmo Group is shocked and deeply saddened by the Russian invasion of Ukraine and the human catastrophe that has followed it.

We have decided to suspend all sales and operations in Russia until further notice.

Having operations within Russia and several countries that border the conflict, our primary concern is the safety of our people and the immediate communities. We employ 248 people in Russia and we will be giving every possible consideration to their wellbeing in the implementation of this decision.

Several initiatives have already started within Purmo Group and we have donated to The Red Cross’s presence in Ukraine. We are working on the best ways to channel the generosity of our staff and continue to support relief efforts for those affected.

In 2021, Russia represented less than 5% of Purmo Group’s total revenue. The decision will primarily impact The Group’s Radiator division.

We will continue to monitor the situation, ensuring people are the highest priority.

Further information
Justin Roux, Head of Global Communications tel. +44 771 742 28 93
Josefina Tallqvist, Investor Relations, tel. +358 40 745 5276

Distribution
Nasdaq Helsinki Ltd
Principal media
investors.purmogroup.com

Purmo Group is a leader in sustainable indoor climate comfort solutions in Europe. We provide complete heating and cooling solutions to residential and non-residential buildings, including radiators, towel warmers, underfloor heating, convectors, valves and controls. Our mission is to be the global leader in sustainable indoor climate comfort solutions. Our approximately 3,500 employees operate through 46 locations in 21 countries, manufacturing and distributing top quality products and solutions to customers in more than 100 countries globally. Purmo Group Plc’s shares are listed on Nasdaq Helsinki (symbol: PURMO). www.purmogroup.com