In the financial year 2020, the Pölkky Group’s turnover was Euro 160 million, compared to Euro 168 million in 2019. Net loss for the financial year was Euro 0.2 million. The Group’s financial position weakened, with an equity ratio of 28.6%.
The weaker-than-expected result for the financial year was mainly due to market disturbances caused by the pandemic, and labor market disturbances.
Petteri Virranniemi, CEO of Pölkky Oy, said: “We started the financial year 2020 in a challenging sawn timber market and labor market situation. The profitability of the business was significantly weaker than planned during January, February and March.
The pandemic brought uncertainty and reduced predictability. The decision to keep the production facilities running through the summer proved to be the right one. Operational capacity was maintained, and deliveries were transported successfully despite challenges.
In the second half of the financial year, the sawn timber and further processing markets strengthened, and demand and deliveries increased. Despite the recovery of the market, the result for the year remained unprofitable.”
In the financial year 2020, Pölkky invested significantly in digitalization and system development. There are development projects in wood procurement, production management, customer relationship management, project management, ICT infrastructure and information security.
Pölkky is Northern Finland’s largest private wood processing company.
