PONSSE’S INTERIM REPORT FOR 1 JANUARY – 31 MARCH 2015
Juho Nummela, President and CEO (April 21, 2015):
Demand for PONSSE forest machines continued to be good during the first quarter. Our order books increased further to EUR 175.1 (104.1) million. The order books grew by 68 per cent compared with the comparable period. International business operations accounted for 72.1 (69.7) per cent of net sales.
The forest machine market situation in North America continues to be good, and the market has continued its positive development in Europe. Russia's proportional amount of net sales has decreased slightly, but machine sales are still on almost normal level in Russia. In Latin America, the focus is on developing service operations and fulfilling the obligations of agreements made with major customers. Ponsse's strong order book is a result from successful R&D solutions and investments. The order book has lengthened the delivery times of forest machines. We are increasing our factory capacity as planned and making sure that the quality and reliability of the final products are at a high level.
Service business continued to grow at a strong rate. The accelerated growth in services is on one hand related to the growing machine fleet and on the other hand to new business concepts in services. During the past quarter, the company's net sales amounted to EUR 91.2 (86.9) million and operating profit to EUR 7.3 (7.4) million. The operating profit equalled 8.0 (8.5) per cent of net sales for the period under review. The equity ratio continued to develop favourably, amounting to 42.5 per cent.
The new PONSSE 2015 range has entered serial production with regard to high-volume models. The extremely rapid launching of new products and start of serial production temporarily decreased delivery volumes and was thereby also reflected in invoicing and cash flow from operations. The trade in used machines was at a normal level. Cash flow from business operations amounted to EUR -8.8 (2.2) million.
Construction investments at the Vieremä factory and in the maintenance service
network proceeded according to plan.
Ponsse Plc_Interim Report_Q1_2015 (.pdf, 347.37 kB)