Interim Report
July-September (continuing operations):
- Net sales amounted to
- Operating profit totalled
January-September (continuing operations):
- Net sales amounted to
- Operating profit totalled
- Net result was
- Earnings per share were
- Order books stood at
- Cash flow from business operations was
- Equity ratio was 54.8 (56.7) per cent at the end of period under review (continuing and discontinued operations)
-
-
PRESIDENT AND CEO
The weakening demand in the forest sector and general uncertainty led to a decrease in the demand for
Our customers' business situation is decent, but logging volumes for the current year are expected to decrease. The weakening of the market is reflected in a reduction in the order books whilst the factory's production volumes still remain close to a normal level. The availability of parts and components has improved significantly as the general demand has decreased in our suppliers' business areas.
The company's net sales amounted to
Our relative profitability during the past quarter was poor, 3.9 (7.3) per cent. The main factors affecting our profitability were the persistent inflation, the operating expenses that grew faster than what the net sales developed, and the slower-than-expected improvement of the operative challenges of our subsidiary, Ponsse Latin America Ltda. Entering a weakening business cycle, also the discontinuation of our Russian operations and the challenges in the organization's overall cost structure are reflected in the company's profitability. The growth in our net sales originates from the less profitable market areas.
The company's cash flow was
In order to secure the fulfilment of our strategy and goals, we are developing the company's operative model. We want to ensure even stronger customer service, respond to market changes, and secure the growth of the company's profitability in the changed business environment. The development of the operative model will have a clear impact on our competitiveness.
Consolidated net sales for the period under review amounted to
Net sales were regionally distributed as follows:
|
| 1-9/23 | 1-9/22 |
|
Net sales from continuing operations | 579,010 | 530,516 |
| |
Net sales from discontinued operations | 3,576 | 28,269 |
| |
Net sales total |
| 582,586 | 558,785 |
|
PROFIT PERFORMANCE
The operating profit amounted to
|
| 1-9/23 | 1-9/22 |
|
Operating profit from continuing operations | 33,361 | 34,888 |
| |
Operating profit from discontinued operations | 1,247 | 3,340 |
| |
Operating profit total |
| 34,608 | 38,228 |
|
Consolidated return on capital employed (ROCE) stood at 7,6 (12.5) per cent.
Staff costs for the period totalled
Result for the period under review totalled
STATEMENT OF FINANCIAL POSITION AND FINANCING ACTIVITIES
At the end of the period under review, the total consolidated statements of financial position amounted to
Cash flow from operating activities amounted to
ORDER INTAKE AND ORDER BOOKS
Order intake for the period totaled
DISTRIBUTION NETWORK AND GROUP STRUCTURE
The subsidiaries included in the
The Group includes also the
ACQUISITIONS AND SALES OF OPERATIONS
On
On
R&D AND CAPITAL EXPENDITURE
Group's R&D expenses during the period under review totalled
Investments during the period under review totalled
MANAGEMENT
The following persons were members of the Management Team:
The international
The geographical distribution and the responsible persons are presented below.
Central and
Jean Sionneau (
Jakub Hacura (
Other countries:
PERSONNEL
The Group had an average staff of 2,106 (2,024) during the period and employed 2,113 (2,014) people at period-end.
SHARE-BASED INCENTIVE PLANS
The Board of Directors of
The CEO plan consists of five performance periods, calendar years 2023, 2023-2024, 2023-2025, 2024-2026 and 2025-2027. A restriction period is included in performance periods 2023 and 2023-2024, which begins from the reward payment and ends on
The key employee plan consists of three performance periods, each lasting for three calendar years, performance periods 2023-2025, 2024-2026 and 2025-2027. The matching reward will be paid in 2023, 2024 and 2025 after the acquisition of the investment shares and confirmation of reward, as soon as practically possible. The matching shares delivered as a matching reward cannot be transferred during a restriction period that will end on
During the period under review, the cost effect of the share-based incentive plans was approximately
During the financial period 2021, the Group implemented the restricted share plan, where the reward is based on the participant's valid employment or director contract and the continuity of the employment or service during a restriction period. The 24-month restriction period of the system ended in 2023 and accordingly, 3,000 company shares were paid as a reward. The expenses were distributed over the entire period, of which the 2023 portion is
SHARE PERFORMANCE
The company's registered share capital consists of 28,000,000 shares. The trading volume of
At the end of the period, shares closed at
At the end of the period under review, the company held 14,562 treasury shares.
ANNUAL GENERAL MEETING
A separate release was issued on
GOVERNANCE
In its decision-making and administration, the company observes the Finnish Limited Liability Companies Act, other regulations governing publicly listed companies and the company's Articles of Association. The company's Board of Directors has adopted the Code of Governance that complies with the Finnish Corporate Governance Code approved by the Board of the
The Code of Governance is available on
NON-FINANCIAL INFORMATION REPORTING
Each year,
RISK MANAGEMENT
Our risk management is based on the company's values and strategic and financial goals. The purpose of risk management is to support the company's strategic objectives and to secure its financial development and the continuity of its business.
The purpose of risk management is to identify, assess, and monitor business-related risks that may impact the realisation of the company's strategic and financial objectives or the continuity of business. This information is used to decide what measures will be required to prevent risks and respond to current risks.
Risk management is part of the company's daily business and has been incorporated into its management system. Risk management is directed by the risk management policy approved by the Board of Directors.
A risk is any event that may prevent the company from achieving its objectives or threatens the continuity of business. A risk may also be a positive event, in which case the risk is treated as an opportunity. Each risk is assessed on the basis of its impact and probability. The company's risk management methods include the avoidance, mitigation, and transfer of risk. Risks may also be managed by controlling and minimising their impacts.
SHORT-TERM RISK MANAGEMENT
Our major short-term risks are related to the geopolitical situation, sudden economic fluctuations, and both persistent and high inflation which has led to rising interest rates. The geopolitical situation also increases uncertainty through financial market operability and sanctions. The risks in the financial market may also increase the volatility of developing countries' foreign exchange markets. The instability of the world economy and increasing financing costs may also reduce demand for forest machines.
In the challenging situation,
The key objective of the company's financial risk management policy is to manage liquidity, interest, and currency risks. The company's financial position has remained strong due to good liquidity and binding credit limit facilities agreed with several financial institutions.
The effect of adverse changes in interest rates is minimised by utilising credit linked to different reference rates and by concluding interest rate swaps. The effects of currency rate fluctuations are partly mitigated through derivative contracts.
Changes taking place in the fiscal and customs legislation in countries to which
The parent company monitors the changes in the Group's internal and external trade receivables and the associated risk of impairment. The company has long-term and extensive service contracts, which may involve operational risks.
In order to strengthen cybersecurity,
OUTLOOK FOR THE FUTURE
The company's euro-denominated operating profit in 2023 is expected to be on par with the comparable operating profit of its continuing operations in 2022 (EUR 46.6 million).
Due to the uncertainty in the markets, the company will keep prioritising its investments, continues to monitor its costs, and develops its operative model in order to improve competitiveness. The development work to improve profitability continues. The company monitors changes in the operating environment and customers operating conditions closely.
We monitor Ponsse Latin America Ltda -subsidiary's situation in an enhanced manner and the company takes measures to improve the situation.
EVENTS AFTER THE PERIOD
On
Persistent inflation has kept affecting the profitability of the business. Entering a weakening business cycle, the discontinuation of the Russian operations and the challenges in the organization's overall cost structure are reflected in the company's profitability. The growth in the company's net sales has originated from the less profitable market areas. The company's profitability has also been affected by the operating expenses that grew faster than the net sales, and the slower-than-expected improvement of the operative challenges of
In the previous interim reports of 2023,
There have been no other subsequent events after the review period that require recognition or disclosure.
PONSSE GROUP
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (
|
|
|
|
|
|
|
| 1-9/23 | 1-9/22 | 1-12/22 | |
579,010 | 530,516 | 755,123 | |||
Increase (+)/decrease (-) in inventories of finished goods and work in progress | 15,591 | 37,000 | 33,633 | ||
Other operating income |
| 3,807 | 2,342 | 3,677 | |
Raw materials and services |
| -393,050 | -379,816 | -525,040 | |
Expenditure on employment-related benefits | -85,997 | -79,130 | -107,873 | ||
Depreciation and amortisation |
| -23,377 | -20,348 | -27,671 | |
Other operating expenses |
| -62,623 | -55,677 | -85,270 | |
OPERATING PROFIT |
| 33,361 | 34,888 | 46,577 | |
Share of results of associated companies | 245 | 108 | 147 | ||
Financial income and expenses |
| -1,506 | -2,237 | -3,504 | |
RESULT BEFORE TAXES | 32,100 | 32,759 | 43,219 | ||
Income taxes |
| -9,687 | -8,589 | -9,037 | |
NET RESULT FROM THE CONTINUING OPERATIONS |
| 22,414 | 24,171 | 34,182 | |
Net result from the discontinued operations |
| -11,133 | 760 | 2,930 | |
NET RESULT FOR THE PERIOD |
| 11,281 | 24,931 | 37,113 | |
|
|
|
|
| |
OTHER ITEMS INCLUDED IN TOTAL COMPREHENSIVE RESULT: |
|
|
| ||
Translation differences related to foreign units | 4,906 | 15,384 | 4,354 | ||
|
|
|
|
| |
TOTAL COMPREHENSIVE RESULT FOR THE PERIOD | 16,187 | 40,315 | 41,467 | ||
|
|
|
|
| |
|
|
|
|
| |
Diluted and undiluted earnings per share from continuing operations | 0.80 | 0.86 | 1.22 | ||
Diluted and undiluted earnings per share from discontinued operations | -0.40 | 0.03 | 0.10 | ||
Diluted and undiluted earnings per share | 0.40 | 0.89 | 1.33 | ||
|
|
|
|
| |
|
| 7-9/23 | 7-9/22 |
| |
169,182 | 178,472 |
| |||
Increase (+)/decrease (-) in inventories of finished goods and work in progress | 8,488 | -1,147 |
| ||
Other operating income |
| 1,710 | 946 |
| |
Raw materials and services |
| -118,873 | -115,194 |
| |
Expenditure on employment-related benefits | -25,403 | -23,443 |
| ||
Depreciation and amortisation |
| -7,813 | -6,946 |
| |
Other operating expenses |
| -20,764 | -19,673 |
| |
OPERATING PROFIT |
| 6,527 | 13,014 |
| |
Share of results of associated companies | 101 | -9 |
| ||
Financial income and expenses |
| -3,649 | -613 |
| |
RESULT BEFORE TAXES | 2,980 | 12,392 |
| ||
Income taxes |
| -2,334 | -2,788 |
| |
NET RESULT FROM THE CONTINUING OPERATIONS |
| 646 | 9,604 |
| |
Net result from the discontinued operations |
| -12,176 | 959 |
| |
NET RESULT FOR THE PERIOD |
| -11,530 | 10,564 |
| |
|
|
|
|
| |
OTHER ITEMS INCLUDED IN TOTAL COMPREHENSIVE RESULT: |
|
|
| ||
Translation differences related to foreign units | 10,163 | 1,752 |
| ||
|
|
|
|
| |
TOTAL COMPREHENSIVE RESULT FOR THE PERIOD | -1,367 | 12,316 |
| ||
|
|
|
|
| |
Diluted and undiluted earnings per share from continuing operations | 0.02 | 0.34 |
| ||
Diluted and undiluted earnings per share from discontinued operations | -0.44 | 0.03 |
| ||
|
|
|
| ||
Diluted and undiluted earnings per share | -0.41 | 0.38 |
| ||
|
|
|
|
| |
|
|
|
|
|
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (
|
|
|
|
ASSETS | |||
NON-CURRENT ASSETS |
|
|
|
Intangible assets | 53,093 | 46,431 | 49,583 |
5,677 | 5,680 | 5,707 | |
Property, plant and equipment | 117,509 | 112,530 | 114,732 |
Financial assets | 375 | 428 | 375 |
Investments in associated companies | 1,057 | 842 | 881 |
Non-current receivables | 3,308 | 244 | 63 |
Deferred tax assets | 7,013 | 4,526 | 4,422 |
TOTAL NON-CURRENT ASSETS | 188,032 | 170,681 | 175,763 |
|
|
|
|
CURRENT ASSETS |
|
|
|
Inventories | 258,297 | 239,998 | 229,648 |
Trade receivables | 61,466 | 60,139 | 62,305 |
Income tax receivables | 1,761 | 1,766 | 1,013 |
Other current receivables | 29,705 | 21,097 | 24,817 |
Cash and cash equivalents | 49,362 | 50,754 | 73,451 |
TOTAL CURRENT ASSETS | 400,593 | 373,754 | 391,234 |
|
|
|
|
Assets related to assets held for sale | 0 | 34,057 | 21,650 |
|
|
|
|
TOTAL ASSETS | 588,625 | 578,492 | 588,648 |
|
|
|
|
SHAREHOLDERS' EQUITY AND LIABILITIES |
|
|
|
SHAREHOLDERS' EQUITY |
|
|
|
Share capital | 7,000 | 7,000 | 7,000 |
Other reserves | 3,460 | 3,460 | 3,460 |
Translation differences | 17,606 | 23,731 | 12,701 |
-463 | -274 | -274 | |
Retained earnings | 293,436 | 286,640 | 298,926 |
EQUITY OWNED BY PARENT COMPANY SHAREHOLDERS | 321,039 | 320,557 | 321,813 |
|
|
|
|
NON-CURRENT LIABILITIES |
|
|
|
Interest-bearing liabilities | 59,493 | 58,036 | 42,484 |
Deferred tax liabilities | 838 | 857 | 942 |
Other non-current liabilities | 80 | 82 | 81 |
TOTAL NON-CURRENT LIABILITIES | 60,410 | 58,975 | 43,507 |
|
|
|
|
CURRENT LIABILITIES |
|
|
|
Interest-bearing liabilities | 60,004 | 34,173 | 53,804 |
Provisions | 10,860 | 4,346 | 10,647 |
Tax liabilities for the period | 2,708 | 6,969 | 4,664 |
Trade creditors and other current liabilities | 133,603 | 145,428 | 153,476 |
TOTAL CURRENT LIABILITIES | 207,175 | 190,916 | 222,591 |
|
|
|
|
Liabilities related to assets held for sale | 0 | 8,045 | 738 |
|
|
|
|
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES | 588,625 | 578,492 | 588,648 |
CONSOLIDATED STATEMENT OF CASH FLOWS (
Continuing and discontinued operations
|
|
|
|
| |||
|
| 1-9/23 | 1-9/22 | 1-12/22 | |||
CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
| ||||
Net result for the period |
| 11,281 | 24,931 | 37,113 | |||
Adjustments: |
|
|
|
| |||
Financial income and expenses |
| 13,692 | 4,660 | 5,893 | |||
Change in provisions |
| -190 | -204 | 6,291 | |||
Share of the result of associated companies | -245 | -108 | -147 | ||||
Depreciation and amortisation |
| 23,444 | 21,563 | 28,853 | |||
Income taxes |
| 9,880 | 8,746 | 9,562 | |||
Other adjustments |
| -1,298 | -1,016 | -3,753 | |||
Cash flow before changes in working capital | 56,565 | 58,570 | 83,812 | ||||
|
|
|
|
| |||
Change in working capital: |
|
|
|
| |||
Change in trade receivables and other receivables | -6,204 | -21,131 | -21,858 | ||||
Change in inventories |
| -25,837 | -73,566 | -67,087 | |||
Change in trade creditors and other liabilities | -12,870 | -7,396 | -4,173 | ||||
Interest received |
| 394 | 199 | 309 | |||
Interest paid |
| -2,458 | -1,273 | -1,627 | |||
Other financial items |
| 394 | 235 | 600 | |||
Income taxes paid |
| -14,817 | -6,478 | -7,921 | |||
NET CASH FLOWS FROM OPERATING ACTIVITIES (A) | -4,833 | -50,840 | -17,945 | ||||
|
|
|
|
| |||
CASH FLOWS USED IN INVESTING ACTIVITIES |
|
|
| ||||
Investments in tangible and intangible assets | -27,569 | -28,804 | -41,917 | ||||
Proceeds from sale of tangible and intangible assets | 1,169 | 396 | 612 | ||||
Acquisition of subsidiaries* | 0 | -5,514 | -5,516 | ||||
NET CASH FLOWS USED IN INVESTMENT ACTIVITIES (B) | -26,427 | -33,922 | -46,821 | ||||
|
|
|
|
| |||
CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| ||||
Withdrawal/Repayment of current loans | 14,230 | 28,793 | 29,575 | ||||
Withdrawal of non-current loans | 10,000 | 7,000 | 11,170 | ||||
Withdrawal/Repayment of finance lease liabilities | -2,896 | -2,606 | -3,755 | ||||
Dividends paid | 16,794 | -16,800 | -16,800 | ||||
NET CASH FLOWS FROM FINANCING ACTIVITIES (C) | 4,540 | 16,388 | 20,191 | ||||
|
|
|
| ||||
Change in cash and cash equivalents (A+B+C) | -26,720 | -68,374 | -44,575 | ||||
|
|
|
|
| |||
Cash and cash equivalents on 1 Jan |
| 76,545 | 120,900 | 120,900 | |||
Impact of exchange rate changes | -463 | -1,120 | 220 | ||||
Cash and cash equivalents on 30Sep/31 Dec | 49,362 | 51,632 | 76,545 | ||||
*) Acquisition of subsidiaries Ponsse Chile SpA,
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (
A = Share capital |
|
|
|
|
|
| |||||
B = Share premium and other reserves |
|
|
|
|
| ||||||
C = Translation differences |
|
|
|
|
|
| |||||
D = |
|
|
|
|
| ||||||
E = Retained earnings | |||||||||||
F = Total shareholders' equity |
|
|
|
|
|
| |||||
|
|
|
|
|
|
| |||||
| EQUITY OWNED BY PARENT COMPANY SHAREHOLDERS | ||||||||||
| A | B | C | D | E | F | |||||
SHAREHOLDERS' EQUITY | 7,000 | 3,460 | 12,701 | -274 | 298,926 | 321,813 | |||||
Comprehensive result: |
|
|
|
|
|
| |||||
Net result for the period |
|
|
|
| 11,281 | 11,281 | |||||
Other items included in total comprehensive result: |
|
|
|
|
|
| |||||
Translation differences |
|
| 4,905 |
|
| 4,905 | |||||
Total comprehensive result for the period |
|
| 4,905 |
| 11,281 | 16,186 | |||||
Direct entries to retained earnings |
|
|
|
| 22 | 22 | |||||
Transactions with shareholders |
|
|
|
|
|
| |||||
Share Plan |
|
|
| 343 |
| 343 | |||||
Dividend distribution |
|
|
|
| -16,793 | -16,793 | |||||
Acquisition of treasury shares |
|
|
| -532 |
| -532 | |||||
Transactions with shareholders in total |
|
|
| -189 | -16,793 | -16,982 | |||||
Other changes |
|
|
|
|
|
| |||||
SHAREHOLDERS' EQUITY | 7,000 | 3,460 | 17,606 | -463 | 293,436 | 321,039 | |||||
|
|
|
|
|
|
| |||||
|
|
|
|
|
|
| |||||
SHAREHOLDERS' EQUITY | 7,000 | 3,460 | 8,347 | -2 | 278,462 | 297,267 | |||||
Comprehensive result: |
|
|
|
|
|
| |||||
Net result for the period |
|
|
|
| 24,931 | 24,931 | |||||
Other items included in total comprehensive result: |
|
|
|
|
|
| |||||
Translation differences |
|
| 15,384 |
|
| 15,384 | |||||
Total comprehensive result for the period |
|
| 15,384 |
| 24,931 | 40,315 | |||||
Direct entries to retained earnings |
|
|
|
|
|
| |||||
Transactions with shareholders |
|
|
|
|
|
| |||||
Share Plan |
|
|
|
| 47 | 47 | |||||
Dividend distribution |
|
|
|
| -16,800 | -16,800 | |||||
Acquisition of treasury shares |
|
|
| -272 |
| -272 | |||||
Transactions with shareholders in total |
|
|
|
| -16,753 | -16,753 | |||||
Other changes |
|
|
|
|
|
| |||||
SHAREHOLDERS' EQUITY | 7,000 | 3,460 | 23,731 | -274 | 286,640 | 320,557 | |||||
|
|
|
|
|
|
| |||||
| |||||||||||
|
1. PROVISIONS ( | Guarantee provision | Other provisions | Total |
4,164 | 6,483 | 10,647 | |
Provisions added | 482 | 16 | 498 |
Provisions cancelled | -691 | 0 | -691 |
Exchange rate difference | 0 | 405 | 405 |
3,955 | 6,905 | 10,860 |
To item other provisions the Group has recognised a provision based on an agreement entered into by Ponsse Latin America Ltda, as the fulfilment of the contractual obligations is estimated to generate expenses that exceed the expected economic benefits obtained from the agreement. The provision has been measured based on the best possible estimate of the expenses arising from the fulfilment of the obligations on the closing date.
2. DISCONTINUED OPERATIONS
The sale of all
Because of the deal,
PROFIT AND LOSS STATEMENT FROM DISCONTINUED OPERATIONS (
|
|
|
|
|
|
| 1-9/23 | 1-9/22 | 1-12/22 |
3,576 | 28,269 | 32,561 | ||
Increase (+)/decrease (-) in inventories of finished goods and work in progress | -17 | -1,521 | -1,992 | |
Other operating income |
| 534 | 218 | 496 |
Raw materials and services |
| -1,190 | -16,111 | -17,320 |
Expenditure on employment-related benefits | -1,019 | -3,652 | -4,246 | |
Depreciation and amortisation |
| -68 | -1,215 | -1,182 |
Other operating expenses |
| -570 | -2,649 | -2,472 |
OPERATING PROFIT |
| 1,247 | 3,340 | 5,844 |
Financial income and expenses |
| 111 | -2,423 | -2,389 |
RESULT BEFORE TAXES |
| 1,358 | 917 | 3,456 |
Income taxes | -194 | -157 | -526 | |
NET RESULT FOR THE PERIOD | -1,164 | 760 | 2,930 | |
Sales loss | -2,628 | 0 | 0 | |
Translation difference | -9,669 | 0 | 0 | |
NET RESULT FROM DISCONTINUED OPERATIONS |
| -11,133 | 760 | 2,930 |
THE EFFECT OF DISCONTINUED OPERATIONS ON THE STATEMENT OF FINANCIAL POSITION (
|
| |||||
| ||||||
SOLD ASSETS |
| |||||
Intangible assets | 13 | |||||
Property, plant and equipment | 6,480 | |||||
Deferred tax assets | 370 | |||||
Inventories | 4,073 | |||||
Trade receivables | 3,480 | |||||
Income tax receivables | -16 | |||||
Other current receivables | 1,420 | |||||
Cash and cash equivalents | 1,802 | |||||
SOLD ASSETS TOTAL | 17,622 | |||||
|
| |||||
SOLD LIABILITIES |
|
| ||||
Interest-bearing liabilities | 0 | |||||
Deferred tax liabilities | 10 | |||||
Tax liabilities for the period | 3 | |||||
Trade creditors and other current liabilities | 221 | |||||
SOLD LIABILITIES TOTAL | 234 | |||||
|
| |||||
|
| |||||
R&D expenditure, MEUR | 21.4 | 20.3 | 27.7 | |||
Capital expenditure, MEUR | 27.6 | 28.8 | 41.9 | |||
as % of net sales |
| 4.8 | 5.4 | 5.6 | ||
Average number of employees |
| 2,106 | 2,024 | 2,016 | ||
Order books, MEUR |
| 278.1 | 365.5 | 353.7 | ||
Equity ratio, % |
| 54.8 | 56.7 | 55.0 | ||
Diluted and undiluted earnings per share (EUR), continuing operations | 0.80 | 0.86 | 1.22 | |||
Diluted and undiluted earnings per share (EUR), discontinued operations | -0.40 | 0.03 | 0.10 | |||
Diluted and undiluted earnings per share (EUR) | 0.40 | 0.89 | 1.33 | |||
Equity per share (EUR) |
| 11.47 | 11.45 | 11.49 | ||
Order intake, MEUR |
| 503.4 | 583.4 | 796.2 | ||
FORMULAE FOR FINANCIAL INDICATORS
Return on capital employed, % (including discontinued operations):
Result before taxes + financial expenses
---------------------------------------------------------------------------------------------------------------------
Shareholder´s equity + interest-bearing financial liabilities (average during the year) * 100
Average number of employees:
Average of the number of personnel at the end of each month from continuing operations. The calculation has been adjusted for part-time employees.
Net gearing, % (including discontinued operations):
Interest-bearing financial liabilities - cash and cash equivalents
-----------------------------------------------------------------------------------
Shareholders' equity * 100
Equity ratio, % (including discontinued operations):
Shareholders' equity + Non-controlling interests
------------------------------------------------------------------------
Balance sheet total - advance payments received * 100
Earnings per share, continuing operations:
Net result from continuing operations for the period - Non-controlling interests
-----------------------------------------------------------------------------------------------------------
Average number of shares during the accounting period, adjusted for share issues
Earnings per share, discontinued operations:
Net result from discontinued operations for the period - Non-controlling interests
-----------------------------------------------------------------------------------------------------------
Average number of shares during the accounting period, adjusted for share issues
Earnings per share (including discontinued operations):
Net result for the period - Non-controlling interests
-----------------------------------------------------------------------------------------------------------
Average number of shares during the accounting period, adjusted for share issues
Equity per share (including discontinued operations):
Shareholders' equity
---------------------------------------------------------------------------------------------
Number of shares on the balance sheet date, adjusted for share issues
Order intake:
Net sales from continuing operations for the period + Change in order books from continuing operations during the period
Vieremä,
President and CEO
FURTHER INFORMATION
DISTRIBUTION
Principal media
www.ponsse.com
The company was established by forest machine entrepreneur
https://news.cision.com/ponsse-oyj/r/ponsse-s-interim-report-for-1-january---30-september-2023,c3859442
https://mb.cision.com/Public/18192/3859442/9c6285ccaf31ba85.pdf
(c) 2023 Cision. All rights reserved., source