Permascand communicated in connection with the Year-end report on February 9, 2023, that the company expects declining revenues in Water Treatment. The situation has been further reinforced, and the company is experiencing significantly weaker and declining demand than expected, and estimates that the installation cycle in ballast water treatment has reached its peak.
The first quarter of 2023 is characterized by a turbulent environment where customers in all segments are cautious in their investment decisions, which has affected the company negatively with a lower order intake than expected.
Permascand continues to experience strong market interest in the Electrification & Renewables and Industrial Solutions segments. These segments account for an increasing share of Permascand's revenue mix and customer demand is good. However, these revenues do not compensate for the loss of revenues in the Water Treatment segment.
Permascand's interim report for January-March will be published as planned on May 10, 2023.