PONSSE’S INTERIM REPORT FOR 1 JANUARY – 30 June 2016
Juho Nummela, President and CEO (August 9, 2016):
Demand for PONSSE forest machines continued to be good. Order intake was good during the second quarter, and the order books increased compared to the previous quarter. The order books were strong, totalling EUR 166.1 (170.5) million at the end of the period under review. International business operations accounted for 77.9 (74.4) percent of net sales.
The company's net sales for the second quarter were EUR 122.0 (115.4) million and the growth in net sales was 5.7 percent. The growth in net sales for the first half of the year was 14.8 percent. The operating profit for the quarter amounted to EUR 14.1 (14.8) million and for the first half of the year EUR 26.2 (22.0) million, representing an increase of 18.9 percent. The second quarter was normal and proceeded according to plans. With regard to the figures for the comparison period, the differences in machine deliveries during the quarters of the first half of 2015 should be taken into consideration. The operating result equalled 11.6 (12.8) percent of net sales for the period under review and 11.1 (10.7) percent for the first half of the year. Cumulative cash flow improved on the comparison period and amounted to EUR 3.8 (-1.7) million.
North and South America account for a significant share of the net sales, and the demand for forest machines has continued to be active in North America. The demand for forest machines has continued at a good level in Russia, and Russia has slightly increased its share of net sales.
The share of Northern European net sales decreased, while Central Europe's share of net sales increased during the past quarter. The market situation is good. Service operations continued their growth during the quarter and the trade-in machine business has also grown strongly during the first half of the year. The accelerated growth in services is related both to the growing machine base and new business concepts in services.