Net sales were regionally distributed as follows: Northern Europe 43.4%, Central and Southern Europe 16.2%, Russia and Asia 18.1%, North and South America 22.2%.
The operating result amounted to Euro 22.5 million in 2013. The operating result of the comparison period includes a non-recurring cost item of Euro 1.9 million. The operating result equalled 7.2% of net sales for the period under review. Consolidated return on capital employed (ROCE) stood at 12.2%.
Order intake for the period totalled Euro 371 million, while period-end order books were valued at Euro 99.8 million. The minimum order commitments for retailers are not included in the order book total.
President and CEO Juho Nummela said: “The year started with a weak order book. However, the demand for forest machines began to pick up already during the 2Q. A significant change for the better took place in order flows during the 3Q, and the order book grew continuously during the latter half of the year, ending up at Euro 99.8 million. The order book grew by 138% compared with the comparison period. In spite of the extremely twofold year, Ponsse’s net sales almost reached the same level as the previous year, even though the number of machines was lower.
“Our renewal of product and production technology and our investments in services progressed as planned. The Scorpion launch exceeded expectations, and the new harvester entered serial production in early 2014.
“With regard to our market areas, the positive trend in Russia and North America can be seen in profitability as well as cash flow from business operations. Problems in Europe were still visible, and the Swedish and Central European markets in particular remained relatively small. All of the deliveries to South America could not be invoiced in full during 2013, with some of the deliveries being postponed to the 1Q 2014. As order flows developed, the factory returned to two shifts as of the beginning of June, and capacity was increased further in early December.”
Net sales for the 4Q amounted to Euro 101.5 million, representing a change of +4.5% compared with the corresponding period. Net sales for the period under review stood at Euro 312.8 million, or 0.6% less than in the comparison period.
The operating result amounted to Euro 9.8 million in the 4Q, equalling 9.6% of net sales. The operating result for the period under review amounted to Euro 22.5 million, equalling 7.2% of net sales.
Ponsse Plc is a company specialising in the sales, manufacture, servicing and technology of cut-to-length method forest machines.