PONSSE PLC, STOCK EXCHANGE RELEASE, 21 APRIL 2026 AT 9:00 A.M. EEST
JANUARY-MARCH:
- Order intake totalled EUR 193.3 (184.5) million
- Order books stood at EUR 167.9 (187.7) million at the end of the period under review
- Net sales amounted to EUR 166.8 (185.4) million
- Operating profit totalled to EUR 1.5 (13.2) million, equalling 0.9 (7.1) per cent of net sales
- Net result was EUR 2.5 (14.4) million
- Earnings per share were EUR 0.09 (0.51)
- Cash flow from operating activities was EUR 7.7 (15.9) million
- Equity ratio was 62.4 (60.7) per cent at the end of the period under review
PROFIT GUIDANCE FOR 2026 UNCHANGED
The company's euro-denominated operating profit in 2026 is estimated to be on par with the operating profit in 2025 (EUR 41.6 million).
PRESIDENT AND CEO JUHO NUMMELA:
In the early part of the year, the forest machine market showed signs of picking up. Market developments continued to be overshadowed by geopolitical uncertainty and trade policy tensions, yet forest machine sales developed strongly during the first quarter. The order flow slightly exceeded the good level of the comparison period, with orders received totalling EUR 193.3 million. At the end of the period, the company's order books stood at EUR 169.9 (187.7) million.
Sales of Ponsse's new forest machines developed favourably during the review period, particularly in Sweden, but also in Central Europe and Latin America. The Finnish market, on the other hand, was challenging due to the tight market situation in the forest industry, the exceptionally early spring and the thawing period. In North America, sales developed better than expected given the circumstances, and the Canadian market also showed signs of picking up. However, uncertainty remained significant and caused delays in customers' investment decisions.
The first quarter was operationally challenging. Due to the weak order books early in the year, the factory operated below capacity for the first nine weeks of the year, which was reflected in the invoicing of new machines. The company's net sales decreased by around 10% from the previous year and amounted to EUR 166.8 (185.4) million in the review period. Invoicing of both new and used machines was lower than in the comparison period, while net sales from maintenance services remained at the previous year's level. The net sales of Ponsse's technology company Epec increased significantly during the review period.
Profitability remained low as a result of the lower net sales. Cost discipline was successfully maintained, and the operating cost structure did not increase during the review period. Relative profitability was 0.9% (7.1).
The cash flow for the review period was EUR 7.7 (15.9) million. The challenging market situation continued to be reflected in used machine sales, and the current sales level was not yet sufficient to reduce inventory levels. The company's solvency remained very strong, and Ponsse's equity ratio developed favourably.
The situation in Brazil developed positively. The challenging Full Service agreement will end considerably earlier than expected, during the second quarter. Ponsse has performed its contractual obligations responsibly throughout the contract period, and the termination of the contract is being carried out in agreement with the customer. The provisions made in connection with the agreement proved to be sufficient.
The strong order flow early in the year increased the company's order books, and the factory moved to two shifts and a five-day working week after 9 March 2026. The factory's capacity utilisation is currently at a normal level. Sales have developed exceptionally well given the circumstances, and the overall momentum across the organisation is clearly strong.
We have been serving harvesting professionals since 1970. Last year, we celebrated Ponsse's 55th anniversary at numerous different events around the world, and this year we are delighted to mark milestone anniversaries in Britain (30 years) and Denmark (20 years). During the current year, we will meet customers widely at international trade fairs and forestry events, where we will also present new solutions and product features. These interactions bring us close to our local customers and allow us to hear their views and feedback, supporting our continued development and manufacture of the world's best forest machines.
OUTLOOK FOR THE FUTURE
The company's euro-denominated operating profit in 2026 is estimated to be on par with the operating profit in 2025 (EUR 41.6 million).
Economic uncertainty persists and is affecting the demand for both forest industry end products and forest machines. Trade tensions, the geopolitical situation and fluctuations in the financial markets create a challenging operating environment, underscoring the importance of cost discipline and carefully considered investment levels.
Ponsse invests in customer relationships and high-quality service, and is continuing to improve the efficiency of its operations in accordance with the new operating model. Investments are selectively targeted at product development, digital services and the strengthening of the sales and maintenance network. The Vieremä factory is being expanded with an extension to the welding shop, and productivity is being improved by automating welding and internal logistics. Cost developments are monitored closely, and the company responds rapidly to changes in market conditions when necessary.
The ramp-down of the operations under the Full Service agreement in Brazil is progressing as planned, and the obligations related to the agreement will end during the second quarter.
| KEY INDICATORS | 1-3/2026 | 1-3/2025 | Change | 1-12/2025 | |
| Order intake (MEUR) | 193.3 | 184.5 | 4.8% | 702.7 | |
| Order books (MEUR) | 167.9 | 187.7 | -10.5% | 141.4 | |
| Net sales (MEUR) | 166.8 | 185.4 | -10.1% | 749.9 | |
| Operating profit (MEUR) | 1.5 | 13.2 | -88.6% | 41.6 | |
| Operating profit (%) | 0.9 | 7.1 | 5.6 | ||
| Result before taxes (MEUR) | 3.0 | 15.0 | -80.0% | 40.0 | |
| Diluted and undiluted earnings per share (EUR) | 0.09 | 0.51 | -82.4 | 1.09 | |
| R&D expenditure, MEUR | 6.0 | 6.2 | -3.2% | 26.6 | |
| Capital expenditure (MEUR) | 5.1 | 4.9 | 4.1% | 22.7 | |
| Equity per share (EUR) | 12.17 | 12.08 | 0.7% | 12.08 | |
| Net interest-bearing liabilities (MEUR) | 18.6 | -6.7 | > -100.0% | 20.5 | |
| Net gearing (%) | 5.5 | -2.0 | 6.1 | ||
| Equity ratio (%) | 62.4 | 60.7 | 59.5 | ||
| Cash flow from operating activities | 7.7 | 15.9 | -51.6% | 23.3 | |
| Average number of employees | 2,014 | 2,035 | -1.0% | 2,083 |
Vieremä, 21 April 2026
PONSSE PLC
Juho Nummela
President and CEO
FURTHER INFORMATION
Juho Nummela, President and CEO, tel. +358 400 495 690
Petri Härkönen, CFO, tel. +358 50 409 8362
DISTRIBUTION
Nasdaq Helsinki Oy
Principal media
www.ponsse.com
Ponsse Plc is a company specialising in the sales, manufacture, servicing and technology of cut-to-length method forest machines and is driven by genuine interest in its customers and their business. Ponsse develops and manufactures sustainable and innovative harvesting solutions based on customers' needs.
The company was established by forest machine entrepreneur Einari Vidgren in 1970, and it has been a leader in timber harvesting solutions based on the cut-to-length method ever since. Ponsse is headquartered in Vieremä, Finland. The company's shares are quoted on the Nasdaq Nordic list.
