CEO Pekka Lundmark said: “Our strong growth continued for the third year in a row. Between 2004 and 2007 our sales have almost tripled, to more than Euros 1.7billion.”
Lundmark added: “We now estimate our share of the relevant market to be approximately 15%. We have increased our operating profit over the same period almost six-fold, from Euros 31m to Euros 175m.”
In summary:
– Excellent year in orders received: Euros 1,87.0m (+7.1%), Q4 orders: Euros 471.0m (+8.%).
– Good growth in net sales: Euros 1,749.7m (+18.0%), Q4 sales: Euros 5.8m (+13.6%).
– Operating profit (excluding Euros 17.6m capital gain) increased to Euros 174.7m (105.5m), margin was 10.0 (7.1)%.
– Q4 operating profit (EBIT): Euros 60.4m (+53.6%), EBIT margin 11.6 (8.5)%.
– Improved return on capital employed: 50.4 (9.5)%, return on equity 51 (36.5)%.
– Solid financial position with gearing down to 7.0 (57.3)%, net debt Euros 19.7m (18m).
– Earnings per share: Euros .17 (1.17), EPS excl. capital gain 1.95 Euros.
– Strong cash flow from operations: Euro 33.m (114.)
– Board’s dividend proposal: 0.80 (0.45) Euros per share.
– Double-digit sales growth targeted in 2008, potential for further EBIT margin improvement in 2008.
