UUTECHNIC GROUP’S BUSINESS REVIEW FROM JANUARY TO MARCH 2018
PLC UUTECHNIC GROUP OYJ STOCK EXCHANGE RELEASE April 27, 2018 at 9.30 am
UUTECHNIC GROUP’S BUSINESS REVIEW FROM JANUARY TO MARCH 2018
Uutechnic Group’s key figures, main events in January-March 2018 and the comparison figures 2017 are presented in this business review. The figures are unaudited.
Key figures
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Uutechnic Group’s turnover was 7.15 million euros (7.24 million euros).
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The operating loss was -0.06 million euros (-0.28 million euros).
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At the end of the first quarter, the order book stood at 18.8 million euros (15.7 million euros).
| T EUR | 1-3/2018 | 1-3/2017 | 1-12/2017 |
| Turnover | 7 146 | 7 243 | 32 076 |
| Operating profit / loss | -59 | -277 | 87 |
| Operating profit / loss % | -0,8 % | -3,8 % | 0,3 % |
| Order Backlog | 18 767 | 15 736 | 12 516 |
Uutechnic Group has implemented IFRS15 -standard Revenue from Contracts with Customers as accounting policy in the consolidated financial statement from 1.1.2018. In the implementation the reliefs allowed in the retrospective application has been applied so that the effect of applying IFRS15 is recognized as an adjustment to the opening balance of equity as at the date of initial application and prior period figures are reported under the previous standards. The change of revenue recognition increased Group’s turnover 753 thousand euros and operating profit 195 thousand euros in the first quarter.
Uutechnic Group’s operating profit in the first quarter was slightly at a loss resulting from the poor outcome of the Vessel business due to weak order intake at the end of previous year.
The Group’s comparable order backlog was 19.5 million euros at the end of March and that was almost record high and over double compared to the start of the reporting period.
In the Mixing Technology business, order intake in the first quarter was extremely good and order backlog was record high. Orders have been received from current customers but also new remarkable openings have been made.
In the Vessel business, the first quarter order intake was at good level and the order backlog is double compared to the beginning of the year.
In the Roll and Pipe business, order intake in the first quarter was good. Market situation is expected to continue favorably.
Released events in the reporting period
February 28th, review of financial statements was published.
March 9th, financial statements, corporate governance statement and remuneration statement was published.
March 19th, invitation to the annual general meeting was published.
March 23rd, it was announced that Japrotek Oy Ab and Uutechnic Oy have received an order from Borregaard AS, Norway for the delivery of 4 pcs 4 000 m³ storage tanks including agitators. The order is the biggest one in Uutechnic Group’s history. Deliveries will take place during the last quarter of the year 2018. The value of this kind of delivery is 4 – 5 million euros.
April 9th, it was announced in a press release that Uutechnic Oy has received two major orders for the hydrometallurgical industry. Deliveries will be directed to Finland and to China. Deliveries comprise a total of about 40 pcs of demanding agitators, designed individually according to customers’ process requirements. The total value of orders is approximately EUR 2 million. Orders have been booked for the first quarter of the 2018 order intake. The equipment will be delivered in 2018.
April 12th, the resolutions of the annual general meeting were announced.
In Uusikaupunki April 27, 2018
PLC UUTECHNIC GROUP OYJ
Board of Directors
Further information:
Jouko Peräaho, CEO Plc Uutechnic Group Oyj, +358 500 740 808
www.uutechnicgroup.fi
Uutechnic Group is focused on improving the competitiveness of its customers by providing them advanced equipment technology and unique service concept worldwide. The product range includes agitators, different types of pressure vessels, process- and storage tanks, reactors and heat exchangers. Additionally, different types of long welded and machined axially symmetrical parts as rolls, cylinders, tubes and cones.
The main industries are hydrometallurgy, mining-, pulp and paper-, food-, fertilizer-, other chemical industries and environmental technology.
Uutechnic Group’s business consists of one segment, Process Solutions, which is divided into two business lines: Mixing Technology and Tanks & Rolls. Mixing Technology business line consists of Stelzer Rührtechnik Int. GmbH and Uutechnic Oy. Tanks & Rolls business line consists of Japrotek Oy Ab and AP-Tela Oy.