2016-08-09 08:00:01 CEST
2016-08-09 08:00:01 CEST
REGLAMENTUOJAMA INFORMACIJA
Ponsse Oyj - Interim report (Q1 and Q3)
PONSSE’S INTERIM REPORT FOR 1 JANUARY – 30 JUNE 2016
Vieremä, Finland, 2016-08-09 08:00 CEST (GLOBE NEWSWIRE) --
PONSSE’S INTERIM REPORT FOR 1 JANUARY – 30 JUNE 2016
– Net sales amounted to EUR 237.1 (H1/2015 206.6) million.
– Q2 net sales amounted to EUR 122.0 (Q2/2015 115.4) million.
– Operating result totalled EUR 26.2 (H1/2015 22.0) million, equalling 11.1
(10.7) per cent of net sales.
– Q2 operating result totalled EUR 14.1 (Q2/2015 14.8) million, equalling 11.6
(12.8) per cent of net sales.
– Profit before taxes was EUR 28.2 (H1/2015 21.2) million.
– Cash flow from business operations was EUR 3.8 (-1.7) million.
– Earnings per share were EUR 0.82 (0.61).
– Equity ratio was 45.0 (36.9) per cent.
– Order books stood at EUR 166.1 (170.5) million.
PRESIDENT AND CEO JUHO NUMMELA:
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.
NET SALES
Consolidated net sales for the period under review amounted to EUR 237.1
(206.6) million, which is 14.8 per cent more than in the comparison period.
International business operations accounted for 77.9 (74.4) per cent of net
sales.
Net sales were regionally distributed as follows: Northern Europe 36.2 (40.6)
per cent, Central and Southern Europe 23.5 (18.9) per cent, Russia and Asia
11.8 (8.7) per cent, North and South America 26.5 (31.5) per cent and other
countries 2.1 (0.3) per cent.
PROFIT PERFORMANCE
The operating result amounted to EUR 26.2 (22.0) million. The operating result
equalled 11.1 (10.7) per cent of net sales for the period under review.
Consolidated return on capital employed (ROCE) stood at 30.9 (27.9) per cent.
Staff costs for the period totalled EUR 36.8 (33.4) million. Other operating
expenses stood at EUR 21.9 (19.9) million. The net total of financial income
and expenses amounted to EUR 1,9 (-0.8) million. Exchange rate gains and losses
with a net effect of EUR 2.6 (-0.1) million were recognised under financial
items for the period. Result for the period under review totalled EUR 22.9
(17.0) million. Diluted and undiluted earnings per share (EPS) came to EUR 0.82
(0.61).
STATEMENT OF FINANCIAL POSITION AND FINANCING ACTIVITIES
At the end of the period under review, the total consolidated statements of
financial position amounted to EUR 284.3 (259.3) million. Inventories stood at
EUR 128.9 (114.5) million. Trade receivables totalled EUR 36.1 (39.3) million,
while liquid assets stood at EUR 15.1 (12.4) million. Group shareholders’
equity stood at EUR 126.2 (94.6) million and parent company shareholders’
equity (FAS) at EUR 118.7 (110.2) million. The amount of interest-bearing
liabilities was EUR 70.5 (82.5) million. The company has used 33 per cent of
its credit facility limit. The parent company's net receivables from other
Group companies stood at EUR 88.6 (91.5) million. The parent company’s
receivables from subsidiaries mainly consisted of trade receivables.
Consolidated net liabilities totalled EUR 55.2 (70.0) million, and the
debt-equity ratio (net gearing) was 43.8 (74.0) per cent. The equity ratio
stood at 45.0 (36.9) percent at the end of the period under review.
Cash flow from operating activities amounted to EUR 3.8 (-1.7) million. Cash
flow from investment activities came to EUR -9.9 (-16.7) million.
ORDER INTAKE AND ORDER BOOKS
Order intake for the period totalled EUR 252.1 (224.7) million, while
period-end order books were valued at EUR 166.1 (170.5) million.
DISTRIBUTION NETWORK
No changes took place in the Group structure during the period under review.
The subsidiaries included in the Ponsse Group are Ponsse AB, Sweden; Ponsse AS,
Norway; Ponssé S.A.S., France; Ponsse UK Ltd, the United Kingdom; Ponsse North
America, Inc., the United States; Ponsse Latin America Ltda, Brazil; Ponsse
Uruguay S.A., Uruguay; OOO Ponsse, Russia; Ponsse Asia-Pacific Ltd, Hong Kong;
Ponsse China Ltd, China and Epec Oy, Finland. The Group includes also the
property company OOO Ocean Safety Center, Russia. Sunit Oy, Finland, is an
associate in which Ponsse Plc has a holding of 34 per cent.
R&D AND CAPITAL EXPENDITURE
Group’s R&D expenses during the period under review totalled EUR 6.0 (5.9)
million, of which EUR 1.4 (1.5) million was capitalised.
Capital expenditure totalled EUR 10.0 (16.7) million. It consisted in addition
to capitalised R&D expenses of investments in buildings and ordinary
maintenance and replacement investments for machinery and equipment.
MANAGEMENT
The following persons were members of the Management Team: Juho Nummela,
President and CEO, acting as the chairman; Petri Härkönen, CFO; Juha Inberg,
Technology and R&D Director; Tapio Mertanen, Service Director; Paula Oksman, HR
Director; Tommi Väänänen, Director of Delivery Chain Process and Jarmo Vidgrén,
Deputy CEO, Sales and Marketing Director. The company management has regular
management liability insurance.
Changes took place in the Ponsse sales organization during the period under
review. Separate releases were issued on 19 April 2016 and 3 May 2016 on the
changes. These changes concern the division of markets for which area directors
and managing directors of subsidiaries are responsible.
The geographical distribution and the responsible persons after the changes are
presented below:
Northern Europe:
Jani Liukkonen (Finland),
Carl-Henrik Hammar (Sweden, Denmark),
Jussi Hentunen (the Baltic countries) and
Sigurd Skotte (Norway),
Central and Southern Europe:
Janne Vidgrén (Austria, Poland, Romania, Germany, Slovakia, the Czech Republic
and Hungary),
Clément Puybaret (France),
Norbert Schalkx (Spain and Portugal) and
Gary Glendinning (the United Kingdom and Ireland)
Russia and Asia:
Jaakko Laurila (Russia, Belarus),
Norbert Schalkx (Japan, Australia and South Africe) and
Risto Kääriäinen (China),
North and South America:
Pekka Ruuskanen (the United States),
Eero Lukkarinen (Chile),
Teemu Raitis until 1 August 2016, Marko Mattila as of 1 August 2016 (Brazil) and
Martin Toledo (Uruguay).
The area director organisation of sales will be led by Jarmo Vidgrén, the
Group's sales and marketing director, and Tapio Mertanen, service director.
Area directors and managing directors of subsidiaries report to Jarmo Vidgrén,
Ponsse Plc's sales and marketing director.
PERSONNEL
The Group had an average staff of 1,413 (1,301) during the period and employed
1,466 (1,348) people at period-end.
SHARE PERFORMANCE
The company’s registered share capital consists of 28,000,000 shares. The
trading volume of Ponsse Plc shares for 1 January – 30 June 2016 totalled
1,383,889, accounting for 4.9 per cent of the total number of shares. Share
turnover amounted to EUR 28.0 million, with the period’s lowest and highest
share prices amounting to EUR 15.57 and EUR 23.53, respectively.
At the end of the period, shares closed at EUR 22.90, and market capitalisation
totalled EUR 641.2 million.
At the end of the period under review, the company held 33,092 treasury shares.
ANNUAL GENERAL MEETING
A separate release was issued on 12 April 2016 regarding the authorizations
given to the Board of Directors and other resolutions at the AGM.
GOVERNANCE
In its decision-making and administration, the company observes the Finnish
Limited Liability Companies Act, other regulations governing publicly listed
companies and the company’s Articles of Association. The company’s Board of
Directors has adopted the Code of Governance that complies with the Finnish
Corporate Governance Code approved by the Board of the Securities Market
Association in 2015. The purpose of the code is to ensure that the company is
professionally managed and that its business principles and practices are of a
high ethical and professional standard.
The Code of Governance is available on Ponsse’s website in the Investors
section.
RISK MANAGEMENT
Risk management is based on the company’s values, as well as strategic and
financial objectives. Risk management aims to support the achievement of the
objectives specified in the company’s strategy, as well as to ensure the
financial development of the company and the continuity of its business.
Furthermore, risk management aims to identify, assess and monitor
business-related risks which may influence the achievement of the company’s
strategic and financial goals or the continuity of its business. Decisions on
the necessary measures to anticipate risks and react to observed risks are made
on the basis of this information.
Risk management is a part of regular daily business, and it is also included in
the management system. Risk management is controlled by the risk management
policy approved by the Board.
A risk is any event that may prevent the company from reaching its objectives
or that threatens the continuity of business. On the other hand, a risk may
also be a positive event, in which case the risk is treated as an opportunity.
Each risk is assessed on the basis of its impact and probability. Methods of
risk management include avoiding, mitigating and transferring risks. Risks can
also be managed by controlling and minimising their impact.
SHORT-TERM RISK MANAGEMENT
The prolonged insecurity in the world economy and weak economic situation may
result in a decline in the demand for forest machines. The uncertainty may be
increased by the volatility of developing countries’ foreign exchange markets.
The geopolitical situation, in particular, will increase the uncertainty
through financial market operations and sanctions.
The parent company monitors the changes in the Group’s internal and external
trade receivables and the associated risk of impairment.
The key objective of the company’s financial risk management policy is to
manage liquidity, interest and currency risks. The company ensures its
liquidity through credit limit facilities agreed with a number of financial
institutions. The effect of adverse changes in interest rates is minimised by
utilising credit linked to different reference rates and by concluding interest
rate swaps. The effects of currency rate fluctuations are mitigated through
derivative contracts.
Changes taking place in the fiscal and customs legislation in countries to
which Ponsse exports may hamper the company’s export trade or its
profitability.
OUTLOOK FOR THE FUTURE
After the very strong performance in 2015, the Group’s euro-denominated
operating profit is expected to be on a par with 2015 in 2016.
Ponsse's strongly reformed and competitive product range and new service
solutions have significantly grown the company. Our investments are focused on
developing the level of service and capacity of the supply chain and spare part
logistics and developing the service network in Finland and abroad.
The expansion of the Vieremä factory has begun, and the investment in the
Iisalmi logistics centre will be completed during October. The factory
investment is associated with the development of the Vieremä factory's safety,
productivity, product quality and capacity during the next two years. The total
investment in the factory is approximately EUR 32 million.
PONSSE GROUP
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (EUR 1,000)
IFRS IFRS IFRS
1-6/16 1-6/15 1-12/15
NET SALES 237,135 206,638 461,928
Increase (+)/decrease (-) in inventories of 17,239 12,719 -1,021
finished goods and work in progress
Other operating income 873 771 2,152
Raw materials and services -164,481 -140,163 -289,294
Expenditure on employment-related benefits -36,845 -33,425 -67,554
Depreciation and amortisation -5,817 -4,604 -9,890
Other operating expenses -21,893 -19,887 -40,335
OPERATING RESULT 26,212 22,049 55,987
Share of results of associated companies 96 -46 -50
Financial income and expenses 1,925 -814 -5,552
RESULT BEFORE TAXES 28,233 21,190 50,385
Income taxes -5,305 -4,205 -9,105
NET RESULT FOR THE PERIOD 22,928 16,985 41,280
OTHER ITEMS INCLUDED IN TOTAL COMPREHENSIVE
RESULT:
Translation differences related to foreign units 705 1,794 880
TOTAL COMPREHENSIVE RESULT FOR THE PERIOD 23,633 18,779 42,160
Diluted and undiluted earnings per share* 0.82 0.61 1.48
IFRS IFRS
4-6/16 4-6/15
NET SALES 122,021 115,431
Increase (+)/decrease (-) in inventories of 9,505 3,710
finished goods and work in progress
Other operating income 275 379
Raw materials and services -84,225 -74,018
Expenditure on employment-related benefits -19,555 -17,733
Depreciation and amortisation -2,921 -2,476
Other operating expenses -10,992 -10,537
OPERATING RESULT 14,109 14,758
Share of results of associated companies 47 13
Financial income and expenses 2,071 -976
RESULT BEFORE TAXES 16,227 13,795
Income taxes -2,787 -2,326
NET RESULT FOR THE PERIOD 13,440 11,469
OTHER ITEMS INCLUDED IN TOTAL COMPREHENSIVE
RESULT:
Translation differences related to foreign units 271 -12
TOTAL COMPREHENSIVE RESULT FOR THE PERIOD 13,711 11,457
Diluted and undiluted earnings per share* 0.48 0.41
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (EUR 1,000)
IFRS IFRS IFRS
ASSETS 30 Jun 16 30 Jun 15 31 Dec 15
NON-CURRENT ASSETS
Intangible assets 18,823 16,579 18,009
Goodwill 3,832 3,440 3,842
Property, plant and equipment 62,675 58,765 59,294
Financial assets 105 105 105
Investments in associated companies 853 821 817
Non-current receivables 2,408 3,302 2,134
Deferred tax assets 3,876 1,856 2,786
TOTAL NON-CURRENT ASSETS 92,573 84,867 86,988
CURRENT ASSETS
Inventories 128,853 114,549 104,584
Trade receivables 36,118 39,268 40,199
Income tax receivables 310 382 104
Other current receivables 11,365 7,824 9,288
Cash and cash equivalents 15,125 12,405 26,495
TOTAL CURRENT ASSETS 191,771 174,429 180,670
TOTAL ASSETS 284,343 259,296 267,658
SHAREHOLDERS’ EQUITY AND LIABILITIES
SHAREHOLDERS’ EQUITY
Share capital 7,000 7,000 7,000
Other reserves 2,452 2,552 2,452
Translation differences -91 118 -796
Treasury shares -346 -346 -346
Retained earnings 117,148 85,307 109,602
EQUITY OWNED BY PARENT COMPANY SHAREHOLDERS 126,164 94,631 117,912
NON-CURRENT LIABILITIES
Interest-bearing liabilities 48,550 50,510 39,346
Deferred tax liabilities 701 664 905
Other non-current liabilities 6 0 7
TOTAL NON-CURRENT LIABILITIES 49,258 51,173 40,259
CURRENT LIABILITIES
Interest-bearing liabilities 21,919 31,947 23,056
Provisions 7,492 5,326 6,120
Tax liabilities for the period 2,826 2,957 1,906
Trade creditors and other current liabilities 76,685 73,263 78,405
TOTAL CURRENT LIABILITIES 108,922 113,492 109,487
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 284,343 259,296 267,658
CONSOLIDATED STATEMENT OF CASH FLOWS (EUR 1,000)
IFRS IFRS IFRS
1-6/16 1-6/15 1-12/15
CASH FLOWS FROM OPERATING ACTIVITIES:
Net result for the period 22,928 16,985 41,280
Adjustments:
Financial income and expenses -1,925 814 5,552
Share of the result of associated companies -96 46 50
Depreciation and amortisation 5,817 4,604 9,890
Income taxes 5,305 4,205 9,105
Other adjustments 638 -102 -26
Cash flow before changes in working capital 32,667 26,550 65,850
Change in working capital:
Change in trade receivables and other receivables 2,126 -16,955 -19,666
Change in inventories -24,269 -21,815 -11,850
Change in trade creditors and other liabilities -1,720 12,199 17,238
Change in provisions for liabilities and charges 1,371 579 1,373
Interest received 109 80 224
Interest paid -474 -448 -1,069
Other financial items -147 615 723
Income taxes paid -5,860 -2,527 -8,840
NET CASH FLOWS FROM OPERATING ACTIVITIES (A) 3,802 -1,722 43,982
CASH FLOWS USED IN INVESTING ACTIVITIES
Investments in tangible and intangible assets -10,001 -16,712 -24,360
Proceeds from sale of tangible and intangible assets 88 0 193
NET CASH FLOWS USED IN INVESTMENT ACTIVITIES (B) -9,914 -16,712 -24,167
CASH FLOWS FROM FINANCING ACTIVITIES
Sales of treasury shares 0 1,882 1,118
Withdrawal/Repayment of current loans 10,000 15,579 3,000
Withdrawal of non-current loans 0 10,000 17,520
Repayment of non-current loans -2,110 -2,923 -9,659
Payment of finance lease liabilities 176 7,163 -167
Change in non-current receivables -374 64 216
Dividends paid -15,382 -12,586 -12,586
NET CASH FLOWS FROM FINANCING ACTIVITIES (C) -7,690 19,179 -558
Change in cash and cash equivalents (A+B+C) -13,802 745 19,257
Cash and cash equivalents on 1 Jan 26,495 12,719 12,719
Impact of exchange rate changes 2,432 -1,059 -5,481
Cash and cash equivalents on 31 Mar/31 Dec 15,125 12,405 26,495
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (EUR 1,000)
A = Share capital
B = Share premium and other reserves
C = Translation differences
D = Treasury shares
E = Retained earnings
F = Total shareholders’ equity
EQUITY OWNED BY PARENT COMPANY SHAREHOLDERS
A B C D E F
SHAREHOLDERS’ EQUITY 1 JAN 2016 7,000 2,452 -796 -346 109,602 117,912
Translation differences 705 705
Result for the period 22,928 22,928
Total comprehensive income for 705 22,928 23,633
the period
Dividend distribution -15,382 -15,382
SHAREHOLDERS' EQUITY 30 JUN 7,000 2,452 -91 -346 117,148 126,164
2016
SHAREHOLDERS’ EQUITY 1 JAN 2015 7,000 130 -1,676 -2,228 82,790 86,016
Translation differences 1,794 1,794
Result for the period 16,985 16,985
Total comprehensive income for 1,794 16,985 18,779
the period
Dividend distribution -12,586 -12,586
Matching Share Plan 2,422 1,882 -1,882 2,422
SHAREHOLDERS' EQUITY 30 JUN 2015 7,000 2,552 118 -346 85,307 94,631
SEGMENT INFORMATION (EUR 1,000)
OPERATING SEGMENTS
1-6/2016 Northern Central and Russia North and Total
Europe Southern Europe and Asia South
America
Net sales of the 163,784 56,411 28,261 64,855 313,311
segment
Sales between -78,045 -759 -336 -1,939 -81,078
segments
Unallocated sales 4,902
NET SALES FROM 85,739 55,652 27,925 62,917 237,135
EXTERNAL
CUSTOMERS
Operating result 4,142 9,925 2,803 7,550 24,420
of the segment
Unallocated items 1,792
OPERATING RESULT 4,142 9,925 2,803 7,550 26,212
OPERATING SEGMENTS
1-6/2015 Northern Central and Russia North and Total
Europe Southern Europe and Asia South
America
Net sales of the 142,309 39,480 18,252 66,093 266,133
segment
Sales between -58,426 -367 -271 -968 -60,033
segments
Unallocated sales 538
NET SALES FROM 83,882 39,113 17,980 65,124 206,638
EXTERNAL
CUSTOMERS
Operating result 1,928 6,438 3,170 10,914 22,449
of the segment
Unallocated items -400
OPERATING RESULT 1,928 6,438 3,170 10,914 22,049
30 Jun 16 30 Jun 15 31 Dec 15
1. LEASING COMMITMENTS (EUR 1,000) 1,041 739 914
2. CONTINGENT LIABILITIES (EUR 1,000) 30 Jun 16 30 Jun 15 31 Dec 15
Guarantees given on behalf of others 460 512 462
Repurchase commitments 4,213 2,214 4,290
Other commitments 219 35 276
TOTAL 4,892 2,762 5,028
3. PROVISIONS (EUR 1,000) Guarantee provision
1 January 2016 6,120
Provisions added 1 914
Provisions cancelled -542
30 June 2016 7,492
4. DIVIDENDS PAID (EUR 1,000) 30 Jun 16 30 Jun 15
Dividends per share EUR 0.55 (EUR 0.45) 15,382 12,586
5. PROPERTY, PLANT AND EQUIPMENT (EUR 1,000) 1-6/16 1-6/15
Increase 7,395 14,313
Decrease -72 -508
TOTAL 7,323 13,805
6. RELATED PARTY TRANSACTIONS 1-6/16 1-6/15
Management’s employment-related benefits (EUR 1,000)
Salaries and other short-term employment-related benefits 2,217 2,069
Benefits paid upon termination of employment 0 0
Pension liabilities, statutory pension security 315 295
Compensation of the members of the Board of Directors 122 126
KEY FIGURES AND RATIOS 30 Jun 16 30 Jun 15 31 Dec 15
R&D expenditure, MEUR 6.0 5.9 12.2
Capital expenditure, MEUR 10.0 16.7 24.4
as % of net sales 4.2 8.1 5.3
Average number of employees 1,413 1,301 1,329
Order books, MEUR 166.1 170.5 158.1
Equity ratio, % 45.0 36.9 44.8
Diluted and undiluted earnings per share (EUR) 0.82 0.61 1.48
Equity per share (EUR) 4.51 3.38 4.21
FORMULAE FOR FINANCIAL INDICATORS
Return on capital employed, %:
Result before tax + financial expenses
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-------------------------------------
Shareholder´s equity + interest-bearing financial liabilities (average during
the year) * 100
Average number of employees:
Average of the number of personnel at the end of each month. The calculation
has been adjusted for part-time employees.
Net gearing, %:
Interest-bearing financial liabilities – cash and cash equivalents
--------------------------------------------------------------------------------
---
Shareholders’ equity * 100
Equity ratio, %:
Shareholders’ equity + Non-controlling interests
------------------------------------------------------------------------
Balance sheet total - advance payments received * 100
Earnings per share:
Net result for the period - Non-controlling interests
--------------------------------------------------------------------------------
---------------------------
Average number of shares during the accounting period, adjusted for share issues
Equity per share:
Shareholders’ equity
--------------------------------------------------------------------------------
-------------
Number of shares on the balance sheet date, adjusted for share issues
ORDER INTAKE (EUR million) 1-6/16 1-6/15 1-12/15
Ponsse Group 252.1 224.7 469.4
The stock exchange release for the interim report has been prepared observing
the recognition and valuation principles of IFRS standards and all of the
requirements of IAS 34 have been complied with. The same accounting principles
were observed for the interim report as for the annual financial statements
dated 31 December 2015.
In addition to the consolidated financial statements according to IFRS, the
interim report presents the above-mentioned indicators that aim to illustrate
the operational performance and profitability of the company. The Group has
applied ESMA's (the European Securities and Markets Authority) new Guidelines
on Alternative Performance Measures, which entered into effect on 3 July 2016,
and defined these indicators in accordance with the presented calculation
formulas. The alternative performance measures can be calculated directly from
the figures presented in the consolidated financial statements.
The above figures have not been audited.
The above figures have been rounded and may therefore differ from those given
in the official financial statements.
This communication includes future-oriented statements that are based on the
assumptions currently made by the company’s management and its current
decisions and plans. Although the management believes that the future
expectations are well founded, there is no certainty that these expectations
will prove to be correct. This is why the results may significantly deviate
from the assumptions included in the future-oriented statements as a result of,
among other things, changes in the economy, markets, competitive conditions,
legislation or currency exchange rates.
Vieremä, 9 August 2016
PONSSE PLC
Juho Nummela
President and CEO
FURTHER INFORMATION
Juho Nummela, President and CEO, tel. +358 20 768 8914 or +358 400 495 690
Petri Härkönen, CFO, tel. +358 20 768 8608 or +358 50 409 8362
DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Principal media
www.ponsse.com
Ponsse Plc is a company specialising in the sales, manufacture, servicing and
technology of cut-to-length method forest machines and is driven by genuine
interest in its customers and their business. Ponsse develops and manufactures
sustainable and innovative harvesting solutions based on customers’ needs.
The company was established by forest machine entrepreneur Einari Vidgrén in
1970, and it has been a leader in timber harvesting solutions based on the
cut-to-length method ever since. Ponsse is headquartered in Vieremä, Finland.
The company’s shares are quoted on the NASDAQ OMX Nordic List.
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