STOCK EXCHANGE RELEASE 30 Oct 2015
Pöyry PLC: Interim Report 1 January - 30 September 2015
PÖYRY PLC Interim Report 30 October 2015 at 8:30 a.m. EET
OPERATING PROFIT IMPROVED
HIGHLIGHTS JANUARY - SEPTEMBER 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 September was EUR 487.8 (475.3) million.
Comparable net sales were EUR 430.8 (416.1) million. Reported net sales in 2014 were EUR 434.8 million.
Operating profit increased to EUR 3.9 (-10.9) million. It improved in all Business Lines, especially in the Regional Operations and in the Industry Business Group.
|Order stock at the end of period, EUR million||487.8||475.3||2.6||487.8||475.3||2.6||472.5|
|Net sales total, EUR million||133.2||131.2||1.5||430.8||434.8||-0.9||571.2|
|Operating profit/loss, EUR million||1.1||-6.2||n.a.||3.9||-10.9||n.a.||-23.1|
|Operating margin, %||0.8||-4.7||0.9||-2.5||-4.0|
|Profit/loss before taxes, EUR million||7.7||-7.1||n.a.||6.8||-13.1||n.a.||-28.0|
|Earnings per share, basic, EUR||0.12||-0.08||n.a.||0.09||-0.20||n.a.||-0.40|
|Earnings per share, diluted, EUR||0.12||-0.08||n.a.||0.09||-0.20||n.a.||-0.40|
|Return on investment, %||7.6||-5.6||-9.9|
|Average number of personnel, full time equivalents (FTE)||5,054||5,517||-8.4||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:
"I am satisfied with Pöyry's improving performance during the reporting period. Our increased focus on sales is bearing fruit with several important projects secured during the quarter. We continued to sharpen project management processes and increase internal efficiency.
Pöyry's comparable net sales, excluding the business that was divested in Finland in June 2014, increased during the reporting period to EUR 430.8 (416.1) million. The figure increased in the Energy and Industry Business Groups and remained stable in the Management Consulting Business Group and in the Regional Operations.
Consolidated operating profit increased to EUR 3.9 (-10.9) million. The figure improved in all Business Lines, especially in the Regional Operations and in the Industry Business Group. In the reporting period, operating profit was impacted by one-time items totalling EUR -3 million, which were mainly recorded under the Regional Operations. As earlier reported, these include project losses recognised on a project originating from the former Urban Business Group, as well as expenses related to on-going arbitration proceedings in Brazil. The figure also includes costs associated with the CEO succession announced in August 2015.
Operating profit last year was burdened by one-time items totalling EUR -11 million and a write-off of the receivables from Venezuela amounting to EUR -14 million. The write-off and most one-time items were recorded in the Regional Operations and related to project losses originating from the former Urban Business Group. In addition, operating profit included a gain of EUR 19 million from the divestment in Finland.
The Group's order prospects remained solid. The comparable order intake increased year-on-year and several important projects were secured during the period. The figure improved clearly in the Industry Business Group, where order intake was strong especially in the pulp and paper sector. It also increased in the Energy Business Group, mainly due to the good performance in Asia and Middle East, as well as in the Management Consulting Business Group especially due to new projects in the energy sector. Order intake remained stable in the Regional Operations, where it stayed on the previous year's level in Northern Europe but decreased in other regions.
Pöyry's order stock increased year-on-year to EUR 487.8 (475.3) million. It increased in the Management Consulting Business Group and particularly in the Industry Business Group, demonstrating the improving order intake since 2014. The figure remained stable in the Energy Business Group and in the Regional Operations.
The Group's unallocated costs developed in line with expectations, as we continued to streamline our cost structures in the global support functions."
The complete January-September 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.
Jukka Pahta, CFO
tel. +358 10 33 22629
INVITATION TO CONFERENCES TODAY ON 30 OCTOBER 2015
Pöyry's January-September 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 (EET) 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 (EET). The event will be hosted by Jukka Pahta, CFO.
11:00 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: 955385
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).
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