PÖYRY PLC Interim Report 5 May 2015 at 8:30 a.m. EEST
ORDER STOCK AND OPERATING PROFIT INCREASED
HIGHLIGHTS JANUARY - MARCH 2015
(Figures in brackets, unless otherwise stated, refer to the same period of the previous year.)
- The Group's order stock at the end of March was EUR 532.2 (540.4) million. The figure improved by EUR 32.2 million from the comparable order stock in 2014, excluding the divestment in Finland in June 2014. Order stock improved clearly from EUR 472.5 million at the end of 2014.
- Consolidated net sales were EUR 146.7 (151.3) million. Comparable net sales in 2014 were EUR 140.4 million.
- Consolidated operating profit increased to EUR 2.7 (-1.8) million. It was positive in all Business Lines.
KEY FIGURES
| 1-3/ | 1-3/ | Change, | 1-12/ | |
| Pöyry Group | 2015 | 2014 | % | 2014 |
| Order stock at the end of period, EUR million | 532.2 | 540.4 | -1.5 | 472.5 |
| Net sales total, EUR million | 146.7 | 151.3 | -3.0 | 571.2 |
| Operating profit/loss, EUR million | 2.7 | -1.8 | n.a. | -23.1 |
| Operating margin, % | 1.8 | -1.2 | -4.0 | |
| Profit/loss before taxes, EUR million | -0.7 | -3.0 | n.a. | -28.0 |
| Earnings per share, basic, EUR | -0.01 | -0.06 | n.a. | -0.40 |
| Earnings per share, diluted, EUR | -0.01 | -0.06 | n.a. | -0.40 |
| Gearing, % | 38.3 | 44.5 | 39.1 | |
| Return on investment, % | 6.4 | -2.0 | -9.9 | |
| Average number of personnel during the period, | ||||
| calculated as full time equivalents (FTE) | 5,105 | 5,746 | 11.2 | 5,433 |
All figures and sums have been rounded off from the exact figures, which may lead to minor discrepancies upon addition or subtraction.
ALEXIS FRIES, PRESIDENT AND CEO:
"The first quarter of 2015 marked an encouraging turn in our performance. We have delivered better results in most of our Business Lines and have continued to address various improvement areas. The necessary structural adjustments have been successfully pursued, in Central Europe and Brazil in particular. Our increasing activity rate indicates improving operational efficiency. Our enhanced sales focus, announced earlier, has resulted in good order intake. We shall continue to work along these lines, relentlessly pushing for sales, increasing activity rates and improving project management performance.
Pöyry's comparable net sales in the first quarter of the year increased to EUR 146.7 (140.4) million, excluding the divested business in June 2014. The figure increased in the Energy and Industry Business Groups and remained stable in the Regional Operations and the Management Consulting Business Group.
Consolidated operating profit increased to EUR 2.7 (-1.8) million and was positive in all Business Lines. The figure grew in the Industry Business Group and especially in the Regional Operations due to improved business performance in Europe. Operating profit remained stable in the Energy and Management Consulting Business Groups.
The Group's order prospects remained solid. Comparable order intake increased year-on-year as several mid-sized projects were secured during the period. The figure improved significantly in the Industry Business Group as a result of favourable development in our chemicals and bio-refining business, as well as assignments secured in the pulp and paper sector. Order intake also increased clearly in the Energy Business Group along with projects secured in Asia and Latin America. The figure remained stable in the Management Business Group. However, it decreased clearly in the Regional Operations. Lower volumes were recorded in Latin America, where a large project that was awarded in 2014 affected the comparable figure. In addition, local market development in Brazil remained uncertain amid current political tensions. Volumes in other parts of the Regional Operations, however, improved or remained stable.
Pöyry's comparable order stock was EUR 532.2 (500.0) million. It increased clearly from EUR 472.5 million at the end of 2014. The figure remained stable in the Regional Operations and increased in all other Business Lines. It improved especially in the Industry Business Group, which was consistent with a significantly stronger order intake.
The Group's unallocated costs decreased in line with expectations, as we continued to streamline our cost structures in the global support functions.
No further impact was recorded from past problem projects, which mostly originated from the former Urban Business Group, and that have been communicated in our earlier reports. Their execution continues according to expectations."
The complete January-March 2015 Interim report is enclosed with this company announcement and is available in full on the company's website at www.poyry.com . Investors are advised to review the complete interim report with tables.
PÖYRY PLC
Additional information: Jukka Pahta, CFO tel. +358 10 33 22629
INVITATION TO CONFERENCES TODAY ON 5 MAY 2015
Pöyry's January-March 2015 result will be presented at the following news conferences:
- A conference for analysts, investors and press will be arranged at 12:00 p.m. Finnish time (EEST) at Restaurant Savoy, Eteläesplanadi 14, Helsinki, Finland. The event will be hosted by Alexis Fries, President and CEO and Jukka Pahta, CFO.
- An international conference call and webcast in English will begin at 5:00 p.m. Finnish time. The event will be hosted by Jukka Pahta, CFO.
10:00 a.m. US EDT (New York) 3:00 p.m. BST (London) 4:00 p.m. CEST (Paris)
The webcast may be followed online on the company's website www.poyry.com . A recording will be made available by the next working day on the same website.
To attend the conference call, please dial:
FI: +358 (0)9 2313 9201 SE: +46 (0)8 5052 0110 UK: +44 (0)20 7162 0077 US: +1 334 323 6201 Other countries: +44 (0)20 7162 0077
Conference ID: 952617
Due to the nature of the live webcast, we kindly ask those attending the international conference call and webcast to dial in 5 minutes prior to the start of the event.
Pöyry is an international consulting and engineering company. We serve clients globally across the energy and industrial sectors and provide local services in our core markets. We deliver management consulting and engineering services, underpinned by strong project implementation capability and expertise. Our focus sectors are power generation, transmission & distribution, forest industry, chemicals & biorefining, mining & metals, transportation and water. Pöyry has an extensive local office network employing about 6,000 experts. Pöyry's net sales in 2014 were EUR 571 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).
DISTRIBUTION: NASDAQ OMX Helsinki Major media www.poyry.com
Interim Report 1 January - 31 March 2015 http://hugin.info/120101/R/1918610/686651.pdf
HUG#1918610
