Vaahto Group reports operating loss of Euro 2.9 million

Nov 11, 2010. /Lesprom Network/. Vaahto Group’s turnover for the fiscal period (September 1, 2009 - August 31, 2010) was Euro 35.2 million, with an operating loss of Euro 2.9 million. Turnover decreased by 54% from the previous fiscal year’s figure. The operating loss for the period was 8.1% (comparative: operating loss of 3.1%) of the Group’s turnover. The main reasons for the loss were the strong decline in turnover and the weak profitability of the Pulp & Paper division’s projects. Sales proceeds of approximately Euro 4.6 million, in total, from sale of the Group’s buildings in Tampere and Pietarsaari and the HVAC business improved the result for the period, company said in a statement received by Lesprom Network. The Pulp & Paper Machinery division’s turnover for the period under review was Euro 21.5 million, with an operating loss of Euro 4.8 million. In weak market conditions, turnover fell by 59% from the previous year’s figure, and the result was negative. Profit of approx. Euro 2 million from the sale of a building in Tampere improved the result for the fiscal year. Toward the end of the fiscal period, the Group’s order book began growing and profitability improved. The Process Machinery division’s turnover for the fiscal year was Euro 13.8 million, with an operating profit of Euro 1.9 million. In the challenging market, the Group's turnover decreased by 44% from the previous fiscal year’s figure. Sales proceeds of approximately Euro 2.6 million, in total, from sales of a building in Pietarsaari and the HVAC business improved the result for the period. Vaahto Group enhances production processes in the paper, board, pulp, and process industries by developing and manufacturing equipment and services.