Finnish engineering giant Valmet lowers its profit forecast but maintains its sales forecast for 2024.

Adjusted ebita profit is now expected to be in line with last year's level, compared to the previous estimate of an increase this year compared to last year.

Sales are still expected to be in line with last year.

"The service market has developed somewhat slower in EMEA, China and Asia-Pacific than Valmet previously expected. In addition, market activity in process technologies for board and paper has been slower than previously expected and some customers have postponed their final investment decisions," the company writes in its press release.