Honkarakenne’s 2Q 2016 net sales in 2016 decreased by 16% to Euro 9.9 million, compared to Euro 11.8 million in 2Q 2015. In January-June net sales were Euro 14.5 million, down 18 % on the corresponding period of the previous year, as the company said in the press release received by Lesprom Network.
The adjusted operating loss for the January-June period was Euro -1.9 million, the operating loss was Euro -2.1 million and the result before taxes was Euro -2.5 million.
The development of the operating result was negatively impacted by the year-on-year decline in net sales.
Marko Saarelainen, President and CEO of Honkarakenne Oyj, in connection with the half year financial report: “After the difficult 1Q, the sales trend in Finland has been favourable. Turbulence in the Russian market is continuing and the trend in net sales and profitability has been negative. In Global Markets, the sales trend has been weak due to the scarcity of project sales. The Group’s net sales fell short of the previous year. At the end of the review period, the order book was at a higher level that in the previous year.
Outlays on marketing and collections in Finland started to have a positive impact in the review period now ended. Honkarakenne has benefited from the recovery of the Finnish market.”
Honkarakenne Ltd. is a global pioneer in modern log building technology, with roots planted firmly in Finland. Founded in 1958, Honkarakenne is the first industrial manufacturer of log houses.
