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Annual Summary

• Annual Summary 2009
• Annual Summary 2008
• Annual Summary 2007
• Annual Summary 2006

THE YEAR 2009 IN BRIEF

The year 2009 was a difficult one for the forest machine industry. The problems of the real economy that started in 2008 persisted in 2009, and the global demand for forest machines was exceptionally poor. The year started with a minimal order book and the demand for new forest machines remained poor throughout the year, even though a slight improvement in order volumes was experienced in all market areas later on in the year. The lack of work for contractors and the challenges related to financing hindered the sales of new machines globally. However, the profitability of Ponsse improved during the latter part of the year.

During the year, Ponsse strongly invested in adjusting its operating expenses. The adjustments were reflected in our operations in the second quarter. The cost savings were attributable to extensive temporary lay-offs as well as the strict control and efficient cut down of other operating expenses. The investments in enhancing the efficiency of working capital were visible as improved cash flow from business operations.

The year was also extremely challenging for after-sales services because of the market situation and the changes in demand. However, Ponsse retained a high level of after-sales services despite the difficult situation. As a whole, service net sales only remained ten per cent poorer than in 2008. The positive trend became more evident during the last few months of the year, and our customers’ future outlook clearly improved. This also increased the demand for after-sales services.

Despite the challenging situation, Ponsse continued its heavy investments in R&D. The R&D organisation and R&D projects were re-organised early in the year. In R&D projects, Ponsse invested in cooperation between organisations.

Ponsse’s cut-to-length product offering was complemented in 2009 with new machines and product solutions when Ponsse launched the latest results of its R&D efforts at the Elmia Wood trade fair in Jönköping, Sweden, in early June. The new products were well received by the markets. The eight-wheel harvester models for demanding terrain, the PONSSE Ergo 8w and the PONSSE Fox, support the Ponsse product portfolio and match market needs well. 

Despite the difficult market situation, we operated actively in all of our market areas in 2009. During the year, we participated in a number of exhibitions and events. The products launched at the Elmia Wood fair in Sweden were presented as part of the Road Show organised in several countries during the autumn. The new products were received well in the market.