2009 was a difficult year for all forestry equipment manufacturers. This was no exception for Ponsse, but improvements in the last quarter of 2009 and improving market conditions in 2010 point towards much better results for 2010.
Ponsse’s net sales for 2009 came up to € 146.7 million. The largest percentage of this was in the 4th quarter of the year (€ 47.8 m).
Some of the key results are found below:
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Operating result: € -15.7 m (-10.7% of net sales)
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Result before taxes: € -15.6 m
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Positive cash flow from business operations: € 11.2 m
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Equity ratio: 42.8%
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Order book value: € 20.3 m
Orders picked up considerably in the last quarter of the year, with the new 8-wheel drive harvester (Ponsse Fox) playing a role. However, net sales for 2009 were down by 50% on 2008’s figures. After sales services increased by 19% for the 4th quarter, compared to the same period in 2008. Importantly, operating costs were reduced by 32% in 2009. Even though the results are not as good as 2008, the 4th quarter of 2009, in general, showed a strong improvement in operating conditions. The outlook is expected to improve in 2010, with moderate growth in the first half of the year and stronger growth in the second half. The pie graph indicates the distribution of sales as a percentage for 2009, and compares this to 2008. The growth in the North and South American markets is significant. Source: www.ponsse.com
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