PÖYRY PLC Interim Report 29 April 2014 at 8:30 a.m.
NET SALES AND OPERATING PROFIT DECLINED
KEY FIGURES
| Pöyry Group | 1-3/ 2014 | 1-3/ 2013 | Change, % | 1-12/ 2013 |
| Order stock at end of period, EUR million | 540.4 | 585.9 | -7.8 | 500.0 |
| Net sales total, EUR million | 151.3 | 166.3 | -9.0 | 650.8 |
| Operating profit, EUR million | -1.8 | 3.1 | n.a. | 13.9 |
| Operating margin, % | -1.2 | 1.9 | 2.1 | |
| Profit before taxes, EUR million | -3.0 | 2.2 | n.a. | 9.1 |
| Earnings per share, basic, EUR | -0.06 | 0.01 | n.a. | 0.06 |
| Earnings per share, diluted, EUR | -0.06 | 0.01 | n.a. | 0.06 |
| Gearing, % | 44.5 | 80.1 | 26.0 | |
| Return on investment, % (R12M) | -2.0 | 4.3 | n.a. | 5.8 |
| Average number of personnel during period, calculated as full time equivalents (FTE) | 5.746 | 6.345 | -9.4 | 6,128 |
All figures and sums have been rounded off from the exact figures which may lead to minor discrepancies upon addition or subtraction.
JANUARY-MARCH 2014 HIGHLIGHTS
Figures in brackets, unless otherwise stated, refer to the same period of the previous year.
- The Group's order stock totalled EUR 540.4 million (585.9) at the end of the first quarter 2014. In March a large order was awarded in Latin America and recorded under Regional Operations.
- Consolidated net sales amounted to EUR 151.3 million (166.3) and decreased by 9.0 per cent compared to the previous year.
- Operating profit amounted to EUR -1.8 million. Operating profit improved in Management Consulting Business Group, but declined mainly in Regional Operations and due to increase in unallocated costs.
- After the reporting period, on 22 April 2014, Pöyry announced that it is divesting significant parts of its real estate design and consulting business, and its construction management business for the real estate and infrastructure sectors in Finland.
- Pöyry's new organisational structure was introduced in February 2013 and is based on Strategic Advisory, Global Competence Lines and Regional Operations. Pöyry's operations are organised along the following business lines: Energy Business Group; Industry Business Group; Regional Operations and Management Consulting Business Group. In line with this evolution Pöyry integrated its local activities in Latin and North America as well as in Asia Pacific to Regional Operations as of January 2014.
-Pöyry continues to implement its structural and administrative process improvement program announced at the end of 2012. As these measures are progressing, Pöyry is introducing further improvements in terms of sales focus, project management and capacity management.
Comments by ALEXIS FRIES, PRESIDENT AND CEO:
"Pöyry's net sales and operating profit declined during the first quarter. Net sales amounted to EUR 151.3 million (166.3) and operating profit was EUR -1.8 million (3.1). The Group's order intake developed as expected and was affected by the currently weak economic environment in Northern Europe in particular. However, year-to-date order stock increased, as a large order was recorded under the Regional Operations in Latin America. The order prospects pipeline is solid albeit client decisions may take longer than expected.
Pöyry further strengthened its regional focus in January 2014 by integrating its local activities in Latin and North America as well as in Asia Pacific to the Regional Operations. This enables Pöyry to grow its services in key domestic markets as well as to develop its global competences in energy, industry and management consulting.
After the end of the reporting period Pöyry announced on 22 April 2014 that it is divesting significant parts of its real estate design and consulting business, and its construction management business for the real estate and infrastructure sectors in Finland. This transaction is in line with our continued efforts to strengthen and develop our consulting and engineering expertise within our traditional areas of expertise.
Pöyry continues to implement its structural and administrative process improvement program announced at the end of 2012. As these measures are progressing, Pöyry is introducing further improvements in terms of sales focus, project management and capacity management."
This is a summary of the January-March 2014 Interim report. The complete report is published as an enclosure to this company announcement and is available in full on the company's website at www.poyry.com. Investors are advised to review the complete financial statement release with tables.
PÖYRY PLC
Additional information:
Jukka Pahta, CFO
tel. +358 10 33 22629
INVITATION TO CONFERENCES TODAY 29 APRIL 2014
Pöyry's January-March 2014 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 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 (EEST). 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 on the next working day on the same website.
To attend the conference call, please dial:
FI: +358 (0)9 8171 0461
SE: +46 (0)8 5199 9357
UK: +44 (0)20 3194 0554
US: +1 855 269 2608
Other countries: +44 (0)20 3194 0554
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 locally in our core markets. We deliver strategic advisory 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, water and real estate sectors. Pöyry has an extensive local office network employing about 6,500 experts. Pöyry's net sales in 2013 were EUR 650 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).
DISTRIBUTION:
NASDAQ OMX Helsinki
Major media
www.poyry.com
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Pöyry Oyj via Globenewswire
