Pihlajalinna projects positive earnings forecast amid revenue decline in Finland

Finnish health company Pihlajalinna issued a positive earnings forecast on Wednesday. Such notifications are provided by publicly traded companies when their results, balance sheets, or financial position have developed better than expected.

Pihlajalinna reported an improvement in profitability, expecting adjusted operating profit before amortization and impairments to rise to between €53 million and €56 million this year. This compares to the same metric last year, which was €37.8 million.

The company anticipates a decline in revenue compared to the previous year due to the transfer of responsibility for specialized medical care costs to the South Ostrobothnia welfare region. Additionally, slow economic growth may impact the company’s earnings.

According to preliminary and unaudited information, Pihlajalinna’s revenue for the third quarter of 2024 was €164 million. The company employs approximately 7,000 staff members along with 2,200 professional practitioners. In 2023, Pihlajalinna’s revenue was recorded at €720 million.