President and CEO on the H2 results 2017:
In the second half of 2017 we have continued to show improvement in our operational business. Operating margins increased in all business lines. We have seen an increase in sales compared to the same period in the previous year in the Industry Business Group, with stabilisation in the Energy Business Group.
Our order stock improved strongly on comparable currencies compared to 31 December 2016. Although order intake did not meet our own ambitions in all the units, we see positive signs in the market. We are confident that we can capitalise on this with new projects during first half of 2018.
Our cash flow continued to improve significantly and pushed our net debt to lower levels compared to previous years. The improved balance sheet position will give us further operative freedom, and we still see further potential to optimise our net working capital.
Good progress was also made in making our risks and opportunities more balanced in both our existing and legacy project portfolio. The efforts there will have to continue throughout 2018, where we expect to close some of the old cases.
We continue to see many good client responses to our projects, indicating also that the amount of new orders will increase. We also see increased inquiries related to our #Poyrydigital offerings. The demand for new services and smart solutions in the areas of the bioeconomy, health and safety as well operational services continues to be strong.
As part of our company transformation program we continued to increase clarity, strategy and clear expectations, with employee engagement reaching its highest levels in recent years. I am also proud for of the commitment shown by top management when they invested own money in company’s shares as a part of transformation program’s ownership culture target and as a part of new long term incentive program. Our experts and consultants take up more responsibility for their own tasks and steadily move towards the Intrapreneurship concept we want to see embedded throughout the organisation.
9 February 2018
Martin à Porta
President and CEO on the H1 results 2017:
"In the first half of 2017 we have shown continued improvement in our operational business compared to the first half of 2016. Our adjusted operating margin increased in every business line except in the Management Consulting Business Group. Streamlining measures have enabled loss reduction in unallocated expenses on an adjusted basis.
Our cash flow improved significantly compared to the first half of 2016 but still shows further potential for improvement. The increase in order stock continued and was in all business lines above the comparative levels from the first half of 2016.
The transformation project started in 2016 has been received well and is showing clear progress. Employee engagement continues to increase and our improved client focus enables us to better position our new offerings. We see increasing demand for our smart solutions in areas of bioenergy, health and safety and operational excellence, underpinned by the recent launch of #PoyryDigital. During the first half of 2017 demand in pulp and packaging has continued to be strong, and in the Hydro and Thermal businesses we were awarded several key projects, particularly in Asia. We are happy to report both an increase in order stock and a more balanced portfolio. We continue and will intensify our efforts to build connected teams and attract key talent in order to speed up our transformation towards reaching our benchmark profitability."
4 August 2017
Martin à Porta
President and CEO on the Q4 results 2016:
“Our adjusted operating result increased compared to the same quarter in 2015, showing continued improvement in our operational business. Adjusted operating margin increased in the Energy and Management Consulting Business Groups, remained on a solid level in the Industry Business Group and declined in Regional Operations. Accordingly operating cash flow of the quarter excluding taxes improved compared to the corresponding period in the previous year. We also saw an increase in our order stock as an outcome from a more client focussed organisation.
There has been strong operational improvement in the organisation. Employee engagement has increased, resulting in better motivation and energy in our teams. I am also happy that we have been able to recruit some new key employees to different levels of our organisation. Together with the good progress on our new business management system, which better equips our employees, this will lead to increased margins in our projects. There are also encouraging signs that our new offerings in the areas of bioenergy, health and safety and operational excellence are getting good response from the market. All in all our sales efforts have resulted in better prospects and opportunities in the market. We believe we can materialise a number of these in order intake in the next few months.”
8 February 2017
Martin à Porta
President and CEO on the Q3 results 2016:
“Our adjusted operating result increased compared to the same quarter in 2015, showing that our operational business is improving. Adjusted operating margin increased in the Energy and Management Consulting Business Groups as well as in Regional Operations, and remained stable in the Industry Business Group. We see positive development in small and medium size orders, market activity and sales prospects in general. However, the overall order intake decreased compared to the previous year. Net sales increased in the Management Consulting Business Group, remained stable in Regional Operations but decreased in the Energy and Industry Business Groups.
Cash flow for the quarter was better than in the previous year, though the year to date cash inflow is still unsatisfactory. We continue actions to improve the working capital further and as a consequence we expect to see an improvement in cash flow towards the end of the year.
Underperforming business units are improving and efforts to enhance profitability continue. Our operational framework and transformation programme is progressing. Adjusted items in the third quarter include restructuring expenses amounting to EUR 2.1 million related to actions to reduce fixed expenses. The ongoing investment in our new business management system allows us to increase business transparency and simplify our processes. There are clear actions underway to simplifying and empowering our organisation, and to strengthen our core, so that we can prepare to scale up.
We are maintaining our outlook that the Group’s adjusted operating result is expected to be positive in 2016.”
28 October 2016
Martin à Porta