Interim Report for 1 January - 30 September 2013
Juho Nummela, President and CEO:
(October 22, 2013)
During the third quarter of the year, our order intake and order books grew strongly. The forest machine market was challenging during the first half of the year, but a clear turn for the better took place during the third quarter. At period end, the company’s order books amounted to EUR 97.2 (62.5) million, which is 55.5 per cent more than in the comparison period. The new Scorpion harvester accounted for a significant share of the order books, and the product will enter serial production in early 2014.
Of the market areas, North America, Russia and Finland were at a good level in terms of both invoicing and order intake. The Central European forest machine market is recovering at a slow rate, and the Swedish market is about to remain at approximately one half of its normal level. Deliveries in Latin America proceeded according to plan.
Net sales of maintenance services continued to grow during the period under review, while the growth in net sales of used machines began to increase again. Net sales for the third quarter amounted to EUR 66.0 (66.6) million. Net sales for the period under review amounted to EUR 211.3 (217.7) million, representing a change of -2.9 per cent from the comparable period.
The operating result for the past quarter was EUR 4.2 (5.0) million, and EUR 12.7 (15.7) million for the period under review.
Cash flow from business operations amounted to EUR 21.6 (-0.2) million in the period under review. Inventories remained at their normal level, but due to the growth in volume, fast growth in trade payables increased the cash flow from business operations significantly.
The factory in Vieremä has been operating in two shifts since the beginning of June. During the past quarter, the company terminated the adjustment operations started in the beginning of the year.