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Juho Nummela, President and CEO (February 13, 2018):

2017 was an excellent year for Ponsse with respect to balanced growth, profitability and cash flow from operations. We succeeded during each quarter throughout the year. Our profitability was good at 11.7 per cent, while we also achieved an 11.4 per cent growth figure and a positive cash flow of EUR 56.5 million. Exports made up 77.3 per cent of turnover.

Our order flow remained excellent throughout the year, and at the end of the year, our order books stood at EUR 124.6 million. During the period under review, the Vieremä factory produced a record number of forest machines while the work for constructing the new factory was in progress.

The outlook is good both for the chemical and mechanical wood processing industry, which means that Ponsse has a favourable operating environment. The total market developed well in 2017, and there were no poorly performing market areas. The forest machine market in Russia developed strongly, surpassing Sweden and Finland to become the world’s largest market for cut-to-length forest machines. Ponsse has a strong market share in Russia. In addition to Russia, forest machine market grew in Finland, Sweden, Germany and Latin America. In North America, the market situation was normal with a healthy demand for forest machines.

All our business areas grew steadily throughout the year. The sales of new machines grew well, and also our maintenance service business continued to grow at a steady rate. Our sales of used machines increased considerably late in the year. The cumulative net sales rose to a historical level of EUR 576.6 (517.4) million and operating profit amounted to EUR 67.4 (55.2) million. From the beginning of the year, the growth of the company's net sales was 11.4 per cent and that of the operating profit was 22.3 per cent year-on-year. Operating profit accounted for 11.7 (10.7) per cent of net sales during the period under review.

Cash flow from business operations amounted to EUR 56.5 (53.7) million in the period under review. The new machine stock remained slightly higher than normal, but the decrease of the used machine stock has a positive impact on cash flows from operations.

The company's balance sheet continued to grow stronger and the positive development of our solidity continued. The company's equity ratio was 51.9 (50.3) per cent.

We are developing Ponsse with a long-term focus in order to support our customers’ businesses. Continuous renewal of our operations and our products is important. Since 2010, we have increasingly invested around EUR 82.1 million in R&D and around EUR 153.2 million in fixed assets.

We have continued to invest as planned in both our service business network and the operations of the Vieremä factory. During the period under review, new service centres were completed in France, Uruguay and the United Kingdom. Factory development is heavily focused on the development of productivity and the quality production ability throughout the manufacturing network. The expansion of the Vieremä factory is progressing as planned, and the construction work was completed in late 2017. The start-up of the new factory in Vieremä will take place during the first six months of 2018. The investments improve our ability to manufacture PONSSE forest machines in Finland and to meet the needs of the market better.

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The Annual Report for 2015 has been published. Download the Annual Report 2015 here.

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19 Mar 2018 - 18 Apr 2018
Silent period
1 Apr 2018 - 16 Apr 2018

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