The operating loss in 2015 was Euro -1.1 million and the result before taxes Euro -1.7 million.
For the period January–December, the operating loss excluding non-recurring items was Euro -0.2 million. Compared to the previous year the change in operating result without non-recurring items was negatively impacted by the decline of Euro 6.4 million in net sales and positively impacted by the Euro 3 million development programme implemented by the Group as well as benefits due to the modernization work at Karstula Mill carried out in previous years.
Marko Saarelainen, President and CEO of Honkarakenne Oyj, said: “The trend in net sales in Finland fell from previous year. I am, however, satisfied with the outlook for Finland in 2016. The trade in detached houses in particular looks promising. In 2015, we signed over 60% more deals for detached homes than in the previous year, and sales of detached houses in Finland have been the most significant contributing factor to our improved order book. The order book for vacation homes is also higher than last year.
The market has been difficult in Russia and, in particular, CIS countries. Taking the market situation into account, our sales in Russia have weathered the financial crisis well due to our strong market position. Although sales in Russia have fallen, Russia's net sales for 2015 were at the same level as in 2013, before the crisis in Ukraine.”
The Honka Group is the world’s leading manufacturer of log frame wood houses.
