Pöyry - Quarterly report

Pöyry PLC: Interim Report 1 January - 30 June 2015

PÖYRY PLC         Interim Report 30 July 2015 at 8:30 a.m. EEST

OPERATING PROFIT INCREASED

HIGHLIGHTS JANUARY - JUNE 2015

(Figures in brackets, unless otherwise stated, refer to the same period of the
previous year.)

  * The Group's order stock at the end of June was EUR 502.4 (482.4) million.

  * Comparable net sales were EUR 297.6 (285.2) million. The reported net sales
    in 2014 were EUR 303.5 million.

  * Operating profit increased to EUR 2.8 (-4.7) million. It was positive in all
    Business Lines except for the Regional Operations.

KEY FIGURES

                                   4-6/  4-6/ Change,  1-6/  1-6/ Change, 1-12/

 Pöyry Group                       2015  2014       %  2015  2014       %  2014
-------------------------------------------------------------------------------
 Order stock at the end of        502.4 482.4     4.2 502.4 482.4     4.2 472.5
 period, EUR million
-------------------------------------------------------------------------------
 Net sales total, EUR million     150.9 152.2    -0.9 297.6 303.5    -1.9 571.2
-------------------------------------------------------------------------------
 Operating profit/loss, EUR         0.2  -3.0    n.a.   2.8  -4.7    n.a. -23.1
 million
-------------------------------------------------------------------------------
 Operating margin, %                0.1  -1.9           0.9  -1.6          -4.0
-------------------------------------------------------------------------------
 Profit/loss before taxes, EUR     -0.1  -3.0    n.a.  -0.9  -6.0    n.a. -28.0
 million
-------------------------------------------------------------------------------
 Earnings per share, basic, EUR   -0.02 -0.06    n.a. -0.03 -0.12    n.a. -0.40
-------------------------------------------------------------------------------
 Earnings per share, diluted, EUR -0.02 -0.06    n.a. -0.03 -0.12    n.a. -0.40
-------------------------------------------------------------------------------
 Gearing, %                                            51.1  34.1          39.1
-------------------------------------------------------------------------------
 Return on investment, %                                4.3  -3.3          -9.9
-------------------------------------------------------------------------------
 Average number of personnel,                         5,091 5,659   -10.0 5,433
 full time equivalents (FTE)
-------------------------------------------------------------------------------


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

ALEXIS FRIES, PRESIDENT AND CEO:"Our performance during the reporting period developed positively. Comparable
net sales and operative result improved. Our enhanced sales focus resulted in a
stable order intake despite a larger project assignment in 2014 in Brazil, which
affected the comparable figure. The structural adjustments which were initiated
earlier this year, especially in Central Europe and in Brazil, have continued as
planned. Our increasing activity rate indicates improving operational efficiency
as we continue pushing for sales and developing project management performance.

Pöyry's comparable net sales in the first half of the year, excluding the
business that was divested in Finland in June 2014, increased to EUR 297.6
(285.2) million. The figure increased in the Energy, Industry and Management
Consulting Business Groups and remained stable in the Regional Operations.

Consolidated operating profit increased to EUR 2.8 (-4.7) million. The figure
improved in all Business Lines, especially in the Regional Operations and in the
Industry Business Group. In the reporting period, operating profit was impacted
by one-time items totalling EUR -2 million, which were recorded under the
Regional Operations. These mainly include additional project losses recognised
on a project originating from the former Urban Business Group, as well as
expenses related to on-going arbitration proceedings in Brazil.

Operating profit last year was burdened by one-time items totalling EUR -6
million and a write-off of the receivables from Venezuela amounting to EUR -14
million. The write-off and most one-time items were recorded in the Regional
Operations and were related to project losses originating from the former Urban
Business Group. In addition, operating profit included a gain of EUR +19 million
from the divestment in Finland.

The Group's order prospects remained solid. The comparable order intake was
stable year-on-year and several mid-sized projects were secured during the
period. The figure improved clearly in the Energy Business Group, where new
orders were recorded in Asia-Pacific and the Middle East, as well as in the
Industry Business Group, where order intake was good in both the chemicals and
bio-refining business and the pulp and paper sector. It also increased in the
Management Consulting Business Group mostly due to a higher number of projects
in the area of operational excellence services. Order intake declined in the
Regional Operations, where the figure increased in Central Europe but decreased
especially in Latin America.

Pöyry's order stock increased year-on-year to EUR 502.4 (482.4) million. It
increased in the Management Consulting Business Group and particularly in the
Industry Business Group, demonstrating the improving order intake since 2014.
The figure was stable in the Energy Business Group and in the Regional
Operations.

The Group's unallocated costs developed in line with expectations, as we
continued to streamline our cost structures in the global support functions."

EVENTS AFTER THE REPORTING PERIOD

On 22 July 2015, Pöyry issued a press release announcing that in line with the
strategy, it has sold all of its shares in Korea District Heating Engineering Co
Ltd Ltd (KDHEC), based in South Korea, to KEPS Calista Private Equity Fund. The
Parties agreed not to disclose the transaction price. Pöyry records a gain on
sale of approximately EUR 5.4 million, which will be included in financial
income and expenses. The transaction will have a positive impact on the cash
flow of approximately EUR 10 million.


The complete January-June 2015 interim report is enclosed with this company
announcement and is available in full on the company's website at www.poyry.com.
Investors are advised to review the complete interim report with tables.

PÖYRY PLC

Additional information:
Jukka Pahta, CFO
tel. +358 10 33 22629

INVITATION TO CONFERENCES TODAY ON 30 JULY 2015

Pöyry's January-June 2015 result will be presented at the following news
conferences:

A conference for analysts, investors and press will be arranged at 12:00 p.m.
Finnish time (EEST) at Restaurant Savoy, Eteläesplanadi 14, Helsinki, Finland.
The event will be hosted by Alexis Fries, President and CEO and Jukka Pahta,
CFO.

An international conference call and webcast in English will begin at 5:00 p.m.
Finnish time (EEST). The event will be hosted by Jukka Pahta, CFO.

  * 10:00 a.m. US EDT (New York)
  * 3:00 p.m. BST (London)
  * 4:00 p.m. CEST (Paris)

The webcast may be followed online on the company's website www.poyry.com. A
recording will be made available by the next working day on the same website.

To attend the conference call, please dial:

  * FI: +358 (0)9 2313 9201
  * SE: +46 (0)8 5052 0110
  * UK: +44 (0)20 7162 0077
  * US: +1 334 323 6201
  * Other countries: +44 (0)20 7162 0077

Conference ID: 953936

Due to the nature of 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 an international consulting and engineering company. We serve clients
globally across the energy and industrial sectors and provide local services in
our core markets. We deliver management consulting and engineering services,
underpinned by strong project implementation capability and expertise. Our focus
sectors are power generation, transmission & distribution, forest industry,
chemicals & biorefining, mining & metals, transportation and water. Pöyry has an
extensive local office network employing about 6,000 experts. Pöyry's net sales
in 2014 were EUR 571 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#1942331]

Attachments:

Interim Report 1 January - 30 June 2015.pdf