Vaahto Group Plc Oyj - Company Announcement

VAAHTO GROUP'S SUBSIDIARY JAPROTEK OY AB'S EQUITY NEGATIVE AND THE GROUP'S OPERATIVE RESULTS FOR THE FIRST QUARTER LOWER THAN EXPECTED

Helsinki, Finland, 2015-04-30 11:00 CEST (GLOBE NEWSWIRE) -- VAAHTO GROUP PLC
OYJ STOCK EXCHANGE RELEASE 30 APRIL 2015 at 12:00 am 

VAAHTO GROUP'S SUBSIDIARY JAPROTEK OY AB'S EQUITY NEGATIVE AND THE GROUP'S
OPERATIVE RESULTS FOR THE FIRST QUARTER LOWER THAN EXPECTED 

Japrotek Oy Ab's earnings on the first quarter of 2015 have fallen negative,
and, due to the losses recorded, also its equity has turned negative. The
reasons for the negative earnings are costs relating to certain projects'
deliveries being higher than expected and orders being lower than expected on
the first quarter. Cost-saving actions will be commenced immediately at the
company. Also the cost-saving effects of the group's program for adjusting
operations and costs, which also affects Japrotek, will concentrate on the
latter part of the ongoing financial period and will be fully implemented in
the early part of the 2016 financial period. 

In the group's full-year results disclosure published on 27 February 2015, the
group's development prospects were assessed as follows: "Market situation for
Vaahto Process Technology remains challenging. However, the order book is at a
good level. Number of offers has increased significantly and the amount of
investment decisions is expected to grow again during the spring 2015. The
reached stabilization arrangement improves the possibilities of the company in
the competitive biddings."

Following the publication of the group's full-year results disclosure, the
volume of new sales has been lower than expected especially at Japrotek.
Therefore also the operative results of the continuing operations of the group
will be negative on the first quarter. The financing arrangement disclosed in
February will, however, have an effect on the group's net results on the first
quarter such that the net results after non-recurring items will be positive.
The program for adjusting the operations and costs, which was commenced and
disclosed in February 2015, has progressed as planned. 

In Lahti on 30 April 2015

VAAHTO GROUP PLC OYJ

The Board of Directors




         Information:
         Sami Alatalo, Chairman of the Board, Vaahto Group Plc Oyj +358 40 826
2066 
         Kalle Rasinmäki, CEO, Vaahto Group Plc Oyj  +358 40 566 4250