INTERIM REPORT OF THE DESTIA GROUP 01/01–31/03/2010: Turnover without ferry services on the same level as the year before, profitability improved
- The first quarter yielded more profits than the previous year
- The development programme for increasing profitability advanced according to plans
- In March, Destia increased its share of ownership of the Kaivujyrä Group by 8 per cent
- The order book is still strong at 780 million Euros (782)
- At the turn of the year, ferry services were separated from Destia Ltd through partial demerger
|% of turnover||-3,5||-7,1||-2,8|
|Result for the financial period||-4,6||-7,5||-17,7|
|% of turnover||-5,1||-7,7||-2,|
Managing Director Hannu Leinonen’s Comments on the Reporting Period:
“Comparable turnover for the first quarter of the Destia Group decreased slightly in comparison with the previous year. However, turnover maintained a satisfactory level considering the changes in the operating environment. The development of the operating result has improved, but it is still negative, which is typical for the winter season. In this industry, the operating result is the strongest during the third quarter.
Our most significant goal during this year is improving profitability. Going forward, we will focus clearly on domestic infrastructure, roads and tracks and their construction, planning, maintenance and repair. During the reporting period we increased our share of the Kaivujyrä Group as planned. Kaivujyrä is the cornerstone of our expertise with railways.
Our order book remained strong. Based on our order book and the measures we have taken to improve profitability, we predict that the Destia Group’s turnover will maintain the level of the previous year and the Group’s operating result for 2010 will be clearly positive.”
Hannu Leinonen, Managing Director, tel. +358 20 444 4000 and
Pirkko Salminen, Head of Economics and Financing, tel. +358 50 3022 485
The interim report of the second quarter of the Destia Group will be published on 20 August 2010.