Ponsse’s first half net sales decreased by 12.5%

Ponsse’s consolidated net sales for the 1H 2020 amounted to Euro 276.4 million, which is 12.5% less than in the 1H 2019. Net sales were regionally distributed as follows: Northern Europe 42.9%, Central and Southern Europe 22.8%, Russia and Asia 11.5%, North and South America 22.1% and other countries 0.7%.

The operating result amounted to Euro 21.8 million, compared to Euro 30.4 million. The operating result equalled 7.9% of net sales for the period under review. Consolidated return on capital employed (ROCE) stood at 4.8%.

Order intake for the 1H 2020 totalled Euro 217.4 million, while period-end order books were valued at Euro 179.3 million.

President and CEO Juho Nummela said: “The 2Q 2020 was highly challenging for Ponsse due to the coronavirus pandemic. Challenges that started from problems in the availability of components escalated rapidly into a demand crisis as a result of increased uncertainties in the markets. After the market situation deteriorated, the value of orders received during the second quarter was Euro 110.6 million, and our order book decreased to Euro 179 million.

Ponsse’s net sales during the 2Q were Euro 131.9 million. The coronavirus pandemic had a broad impact on the operations of our customers, and the net sales of service businesses and used machine operations decreased alongside the sale of new machines. Ponsse’s operating profit for the quarter was Euro 8.4 million, with the operating profit rate being 6.4%.”

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