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Juho Nummela, President and CEO:
(August 10, 2010)
The demand for forest machines improved during the second quarter of 2010. At the end of the period, the company’s order books stood at EUR 50 million. The order intake has picked up in all market areas.
The company's net sales increased by 103 per cent during the past quarter from the comparison period to EUR 65.9 (32.5) million. During the first six months, net sales increased by 67 per cent. The net sales of services and information system businesses showed strong growth.
Operating result for the second quarter was EUR 7.0 (-4.0) million, and for the first six months it was EUR 9.8 (-12.7) million. Operating costs (staff costs, depreciations and other operating expenses) were well under control during the period, increasing only by 5 per cent.
Cash flow from business operations during the period under review was positive by EUR 9.8 (0.4) million. The increase in working capital is mainly created by an increase in short-term trade receivables towards the end of the period. The company’s spare parts inventory has remained unchanged, and the operation for halving the value of factory inventory has succeeded so that there was no need to significantly increase its value in spite of the increased volumes.
The utilisation of capacity has been systematically increased during the period, and temporary layoffs have ended throughout the Group. The assembly line at the company’s Vieremä factory still operated in one shift during the period, which shows that the company is capable of increasing its capacity in the long term. During the second quarter, the company started moderate recruits again in order to support the increase in production capacity.
Read the whole interim report Q2/2010(pdf)
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