President and CEO on the H2 results 2018:
All units continued to improve profitability during 2018 resulting in the 10th consecutive quarter with improved profitability comparing to previous year same quarter. With three out of four business groups having reached or exceeded our benchmarks, we are confident that our transformation program is providing the results we are aiming at. Strong cash collection and solid performance enabled a very favourable net debt position of negative 103.5 MEUR. While order intake did not reach our high ambitions, we have still been able to grow the order stock by 19% at comparable currencies vs previous year. In the outlook we are confident that our actions to increase client focus showing a solid pipeline will convert to new orders during the first half of 2019.
Demand for our Industry Business Group services continued to be strong especially in Northern Europe and we saw improvement in Latin America. Demand for our energy services continued to be strong especially in Middle-East and Asia while the European energy market continues to transform providing selected business opportunities for consulting. The Infra, Water and Environment Business Group has improved its performance and especially Northern Europe is steady.
Our transformation and empowerment programs continue to have strong momentum. The Intrapeneur DNA concept is widely spread and supported by our strong experts globally. We can see this from our employee engagement survey conducted in the 4th quarter which showed further increase in engagement and motivation of our staff.
7 February 2019
Martin à Porta
President and CEO on the H1 results 2018:
"Already earlier we had reported several positive book to bill quarters and now we see this positive trend converting into a high order stock (+21.9%) which will drive solid organic growth in sales in the future. Also in terms of profitability, the positive trend from the first quarter continued and we have now seen that our transformation program produced eight consecutive quarters of result improvement compared to the previous year same quarter. All units have improved their profitability and we see good progress in the implementation of our transformation program including a continued increase in employee engagement and intrapreneurship. Our profitability is supported by a strong operational cash flow of EUR 37.3 million, which pushes our gearing to -15.9%.
Demand for our Industry Business Group services continued to be strong especially in Northern Europe and we saw also modest improvement in Latin America. Due to strong demand we have also been able to raise the number of experts in Industry Business Group by 5.8%. Demand for our Energy services was increasing especially in Middle East and in Asia while the European energy market continues to transform, providing selected business opportunities for consulting. I am also happy to see the return of EPC-projects to our offering in South-Eastern Asia. The Infra, Water and Environment Business Group has been well received by clients and the steady performance continues especially in Northern Europe. During the second quarter we have closed old legal cases and now we can spend even more effort on materializing the next generation Pöyry.
Our transformation and empowerment programs continue to have good momentum. Our employee engagement survey conducted in the second quarter of 2018 showed continued improvement in the motivation of our staff, and we see the benefits of an increase in high performance culture across the organisation."
9 August 2018
Martin à Porta
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