Lamor Corporation Plc | Inside Information | September 29, 2026 at 20:15:00 EEST
Lamor Corporation Plc lowers its revenue and adjusted EBIT guidance.
Updated guidance for 2026
Previous guidance for 2026 (published 26 February 2026 and repeated 28 July 2026)
Background to the revised guidance
The revision is primarily due to customer decisions concerning several large equipment deliveries and service projects in the Middle East taking longer than anticipated. As a result, some anticipated orders and related deliveries previously expected in 2026 are now expected to shift into 2027.
The security situation in and around the Strait of Hormuz has also had a direct impact on logistics, mobilisation and customer procurement processes. Certain procurement processes in Europe have also been delayed as the prolonged war in Ukraine has shifted customers’ immediate security priorities. At the same time, geopolitical tensions are expected to increase long-term demand for oil spill preparedness and response solutions.
Lamor’s cost-saving programme has progressed according to plan but will not fully compensate for the impact of the delayed revenue on adjusted EBIT.
The Company’s long-term strategic priorities remain unchanged: profitable growth and strengthening its market position. Lamor continues to view the long-term demand drivers for oil spill preparedness and environmental emergency response solutions to remain intact and potentially strengthen.
Updated assumptions
The previously communicated expectations that both revenue and profitability would be weighted towards the second half of the year are not expected to materialise. Customer decisions are now expected to shift into the next calendar year. Furthermore, the measures aimed at improving sales, margins and operational efficiency are not expected to support revenue and profitability during the second half of the year to the extent previously anticipated.
The Company has completed the finishing measures agreed with the Finnish Safety and Chemicals Agency (Tukes) in connection with the commissioning inspection and the ramp-up of circular oil production.
Previous assumptions (28 July 2026)
The company expects both revenue and profitability to be weighed toward the second half of the year. As per the adjusted operating profit, the first half was expected to be around break-even. This estimate was slightly exceeded. The company estimates that measures to improve sales, margins and efficiency will clearly support revenue and profitability during the second half. Revenue from the ongoing soil remediation project in Kuwait is expected to be at a lower level than in 2025.
The ramp-up of circular oil production is expected to commence once the finishing measures agreed in connection with the final inspection by the Finnish Safety and Chemicals Agency (Tukes) have been completed. This delay in timing does not have a significant impact on the Group’s revenue and operating profit for this year. Revenue from circular oil is expected to increase gradually toward the end of the year as product quality improves and volumes grow.
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Lamor will publish its Business Review for January–September 2026 on 6 November 2026.