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Juho Nummela, President and CEO (April 25, 2017):

2017 started off well, and demand for PONSSE forest machines was high from the very beginning of the year. Orders for the first quarter were strong, and the order books at the end of the period under review stood at 118.6 (156.2) million euros.

Net sales grew well during the first quarter to 129.9 (115.1) million euros. The growth of net sales in relation to the comparison period was 12.9 percent. The net sales of service business grew extremely well, but the growth of net sales in used machines was moderate. The portion of international business in net sales was 72.1 (72.7) percent.

Profit for the past quarter amounted to 14.3 (12.1) million euros, with a growth of 18.3 percent. Result for the review period was 11.0 (10.5) percent. The distribution network and factory functioned as planned while operating costs remained under control, which had a positive effect on profitability. Cash flow was -5.4 (-2.3) million euros. The stock of used machines remains higher than expected.

Our investments proceeded according to plans. New service centres were finished in Uruguay and France, and our UK subsidiary's new facilities are expected to be completed by the end of the year. The investment for the factory's expansion is on schedule. Building will be completed in the autumn of 2017, after which equipment will be installed.  

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