The Honkarakenne Group’s FY 2017 net sales amounted to Euro 43.4 million, compared to Euro 36.1 million in the previous year. The Group’s net sales rose by 20% on 2016. This substantial growth stemmed from both a recovery in the Finnish market and the successful launch of public and care home construction. Demand for construction services and log-manufactured detached houses grew throughout the year, as the company said in the press release received by Lesprom Network.
The full-year operating result for 2017 was Euro 1.7 million and the result before taxes Euro 1.7 million. The adjusted operating result for 2017 was Euro 1.5 million and the adjusted result before taxes Euro 1.6 million. Adjustment items include capital gains of Euro 0.1 million from the sale of properties recognised as fixed assets, and adjustment items in the previous year included expenses of Euro 0.4 million.
The consolidated operating result was impacted by the 20% year-on-year increase in net sales and the implementation of efficiency-boosting measures. A total of Euro 0.3 million in credit losses was recognised in 2017. The greatest single credit loss amounted to almost Euro 0.3 million. The financial statements include the Euro 0.4 million impairment of a plot reservation listed under inventories (Euro 0.1 million in the previous year).
Finnish Honka is one of the largest world producers of wooden houses.
