Pöyry - Financial Statement Release

Pöyry PLC's notice concerning annual accounts for 2011

PÖYRY PLC          Financial Statement Release 9 February 2012 at 8:30 a.m.

SOLID ORDER STOCK FOR 2012 - PUBLIC SECTOR BURDENS 2011 RESULT

KEY FIGURES
                                      |10-12/|10-12/|Change,|1-12/|1-12/|Change,
Pöyry Group                           |  2011|  2010|      %| 2011| 2010|      %
--------------------------------------+------+------+-------+-----+-----+-------
Order stock at end of period, EUR     |      |      |       |     |     |
million                               | 694.4| 526.2|   32.0|694.4|526.2|   32.0
--------------------------------------+------+------+-------+-----+-----+-------
Net sales total, EUR million          | 226.9| 186.0|   22.0|796.1|681.6|   16.8
--------------------------------------+------+------+-------+-----+-----+-------
Operating profit excl.                |      |      |       |     |     |
restructuring costs,                  |      |      |       |     |     |
EUR million                           |   6.3|  13.5|  -53.3| 30.4| 17.3|   75.7
--------------------------------------+------+------+-------+-----+-----+-------
Operating margin excluding            |      |      |       |     |     |
restructuring costs, %                |   2.8|   7.3|       |  3.8|  2.5|
--------------------------------------+------+------+-------+-----+-----+-------
Operating profit,                     |      |      |       |     |     |
EUR million                           |  -0.5|   6.1|   n.a.| 20.0|  5.8|   n.a.
--------------------------------------+------+------+-------+-----+-----+-------
Operating margin, %                   |  -0.2|   3.3|       |  2.5|  0.9|
--------------------------------------+------+------+-------+-----+-----+-------
Profit before taxes,                  |      |      |       |     |     |
EUR million                           |  -0.8|   6.4|   n.a.| 17.1|  4.3|   n.a.
--------------------------------------+------+------+-------+-----+-----+-------
Earnings per share, basic, EUR        | -0.03|  0.08|   n.a.| 0.13| 0.00|   n.a.
--------------------------------------+------+------+-------+-----+-----+-------
Earnings per share, diluted, EUR      | -0.03|  0.08|   n.a.| 0.13| 0.00|   n.a.
--------------------------------------+------+------+-------+-----+-----+-------
Gearing, %                            |     -|     -|       | 28.2|  3.5|
--------------------------------------+------+------+-------+-----+-----+-------
Return on investment,  % (R12M)       |     -|     -|       |  7.4|  2.6|
--------------------------------------+------+------+-------+-----+-----+-------
Dividend per share (*BoD proposal)    |     -|     -|       | 0.20| 0.10|  100.0
--------------------------------------+------+------+-------+-----+-----+-------
Dividend pay-out ratio, % (*BoD       |      |      |       |     |     |
proposal)                             |     -|     -|       |152.6| n.a.|
--------------------------------------+------+------+-------+-----+-----+-------
Average number of personnel during    |      |      |       |     |     |
period, calculated as full time       |      |      |       |     |     |
equivalents (FTE)                     |     -|     -|       |6,864|6,611|    3.8


All figures and sums have  been  rounded  off  from  the  exact  figures  which
 may  lead  to  minor  discrepancies  upon  addition or subtraction.

JANUARY-DECEMBER 2011 HIGHLIGHTS
Figures in brackets, unless otherwise stated, refer to the same period the
previous year.

- The Group's order stock totalled EUR 694.4 million (526.2) at the end of
2011. The order stock includes a major EPC contract announced in the first
quarter of 2011.
- Consolidated net sales in 2011 increased by 16.8 per cent compared with the
year before to EUR 796.1 million (681.6).
- Operating profit excluding restructuring costs was EUR 30.4 million (17.3)
corresponding to 3.8 per cent (2.5) of sales.
- Compared with the year before, operating profit improved significantly in the
Industry and Management Consulting business groups as a result of improving
activity and successful restructuring measures. Operating profit also improved
in the Energy business group despite start-up costs caused by the integration of
Pöyry SwedPower.
- The operational excellence programme in Finland was concluded as planned in
2011. The targeted annualised operating profit improvement of EUR 15 million was
achieved partly through the operational excellence programme and partly through
increased activity.
- In 2011 the operational excellence programme was launched in Germany. During
the year the efficiency improvement measures resulted in restructuring costs of
approximately EUR 5 million of which, the remaining approximately EUR 4 million
was recognised in the fourth quarter 2011 result. The targeted annualised
savings, approximately EUR 6.5 million, are expected to be achieved by the end
of 2012.
- Balance sheet remains strong. The inclusion of the Vantaa Head Office building
in the balance sheet in the second quarter of 2011 increased gearing which now
stands at 28.2 per cent (3.5).
- The accounts receivable includes receivables, which relate to certain public
sector infrastructure projects in Venezuela. While the receivables are
undisputed, there continues to be uncertainty about the timing of the payments,
which has been reflected in the valuation of the receivables. The current net
value of the receivables is approximately EUR 24.1 million after provisions. The
increase in provision was EUR 4.3 million in 2011.
- Transaction whereby Pöyry PLC acquired parts of the engineering consulting
business of Vattenfall Power Consultant AB was completed in July 2011.
- The Oil and gas business was divested in June 2011.
- In October 2011, Pöyry announced that it will increase focus on emerging
markets and realign structure by merging Water & Environment and Urban &
Mobility business groups into new Urban business group. Pro forma figures
regarding the new business group structure are included in the tables to the
complete Financial Statement Release.

PROPOSED DIVIDEND
- Pöyry   Group's   parent   company   Pöyry   PLC's   net   profit   for
2011   was   EUR 1,870,314.30  and  retained  earnings  EUR  92,888,018.60,  so
 the  total  amount  of distributable earnings was EUR 94,758,332.90.
-  The Board of Directors of Pöyry PLC proposes to the Annual General Meeting on
8 March 2012 that a dividend of EUR 0.20 (0.10) per share be paid for the year
2011.
- The number of outstanding shares is 59,075,665 and the total amount of
dividends thus EUR 11,815,133.00.
- The Board of Directors proposes that the dividend be paid on 20 March 2012.

OUTLOOK FOR 2012
Pöyry's businesses are predominantly driven by clients' new capital investments
and most of the businesses are also inherently late in the cycle. It is
difficult to predict the timing of clients' new investment decisions and project
start-ups. The uncertainty around the general economic outlook is high, which
may impact investment activity in business segments that are relevant to Pöyry's
operations.

Based on the current strong order stock and outlook for new orders, the Group's
net sales in 2012 are expected to remain stable compared with 2011. The
comparable operating profit for 2012 is expected to improve clearly from the
operating profit, excluding restructuring costs, in 2011.

Outlook concerning business groups:
The net sales in the Industry and Management Consulting business groups are
expected to improve and in the Energy and Urban business groups to remain stable
compared with 2011. Comparable operating profit in the Energy business group is
expected to improve clearly, in the Industry business group to improve, in the
Urban business group to improve significantly and in the Management Consulting
business group to remain stable compared with 2011.

CORPORATE GOVERNANCE STATEMENT
Pöyry will publish its Corporate Governance Statement 2011 in week 7 together
with the Annual Report 2011 that contains the report by the board of directors.
The statement will be published separately from the Report of the Board of
Directors and it will be available after publishing on the company's website at
www.poyry.com.

MATERIALS TO THE AGM
The financial statements, the report by the Board of Directors, the corporate
governance statement as well as other documents presented to the Annual General
Meeting will be available on the company's website at www.poyry.com on 16
February 2012 at the latest.

COMMENTS FROM HEIKKI MALINEN, PRESIDENT AND CEO:"In the beginning of 2012 Pöyry stands on a solid foundation. The good order
intake resulted in a high order stock of EUR 694.4 million, which was 32 per
cent higher than in 2010. Net sales in 2011 increased by 16.8 per cent to EUR
796.1 million (681.6). Operating profit before restructuring costs, amounted to
EUR 30.4 million (17.3) or 3.8 per cent (2.5) of net sales. The balance sheet is
strong.

Compared with the year before, operating profit improved significantly in the
Industry and Management Consulting business groups. The Industry business group
started the year 2011 with signing a major EPC contract with MWV Rigesa, Brazil.
The project is now in the middle of implementation. I am pleased to report that
Pöyry has won the key pulp and paper projects in Latin America in 2011. The
business group also continued its efforts to expand into the minerals processing
sector. Overall, the Industry business group achieved a good turnaround after a
tough 2009-2010. In the Management Consulting business group implementation of a
new business model, successful recruitment of skilled professionals and active
sales efforts resulted in a clear turn-around.

Operating profit also improved in the Energy business group for which 2011 was a
year of transition. In early June we sold our oil and gas business and in July
we finalised the acquisition of parts of the engineering consulting business of
Vattenfall Power Consultant AB. Despite start-up costs caused by the integration
of the new company Pöyry SwedPower, Energy business group improved its relative
profitability.

In the public sector the business environment became more challenging. Growing
austerity measures started to negatively impact clients' spending on public
sector projects and payment behaviour. Competition for new projects grew
clearly. Our financial performance in this business area failed to meet our
expectations. As part of the strategic review of the water business, the
decision was taken to merge Water & Environment and Urban & Mobility into one
business group to improve competitiveness, better capture synergies and improve
profitability.

As part of our strategic roadmap we continued to improve the efficiency of our
own operations. Our group wide growth enabling initiatives - Large Projects,
Sales & Marketing, Way of Working and Thought Leadership - are well underway.
Capital investments continue to move from developed to emerging markets.
Therefore, Pöyry will further strengthen its presence in Latin America and Asia.
During 2011 we started to prepare for taking the next steps on this journey."

This is a summary of the January-December 2011 financial statement release. The
complete report is published as an enclosure to this company announcement and is
available in full on the company's web site at www.poyry.com. Investors are
advised to review the complete financial statement release with tables.

PÖYRY PLC

Additional information from:
Heikki Malinen, President and CEO
tel. +358 10 33 21307
Jukka Pahta, CFO
tel. +358 10 33 26088
Sanna Päiväniemi, Director, Investor Relations
tel. +358 10 33 23002

INVITATION TO CONFERENCES TODAY 9 FEBRUARY 2012
The January-December 2011 result will be presented by CEO Heikki Malinen and CFO
Jukka Pahta at the news conferences today as follows:

- A conference for analysts, investors and press in Finnish will be arranged at
12 p.m. Finnish time at Restaurant Savoy, Eteläesplanadi 14, Helsinki, Finland.

- An international conference call and webcast in English will begin at 5:00
p.m. Finnish time (EET).

10:00 a.m. EST (New York)
3:00 p.m. GMT (London)
4:00 p.m. CET (Paris)
5:00 p.m. EET (Helsinki)

The webcast may be followed online on the company's website www.poyry.com. A
replay can be viewed on the same site the following day.

To attend the conference call, please dial

Finland: 0800 914672
USA: +1 646 843 4608
Other countries: +44 (0)20 3003 2666
Conference id: Pöyry

Due to the live webcast, we kindly ask those attending the international
conference call and webcast to dial in 5 minutes prior to the start of the
event.

Pöyry is a global consulting and engineering company dedicated to balanced
sustainability and responsible business. With quality and integrity at our core,
we deliver best-in-class management consulting, total solutions, and design and
supervision. Our in-depth expertise extends to the fields of energy, industry,
transportation, water, environment and real estate. Pöyry has about 7,000
experts and the local office network in about 50 countries. Pöyry's net sales in
2011 were EUR 796 million and the company's shares are quoted on NASDAQ OMX
Helsinki. (Pöyry PLC: POY1V).

DISTRIBUTION:
NASDAQ OMX Helsinki
Major media
www.poyry.com

[HUG#1583922]

Attachments:

ENG_Q42011_Financial_year.pdf