This business review presents the key figures of Uutechnic Group’s continuing operations, main events in January-September 2018 and comparison figures for the previous year. The figures are unaudited.

Uutechnic Group’s turnover from continuing operations for 1 January-30 September 2018 was EUR 16.5 million (12.8 million), and its operating profit was EUR 1.7 million (0.5 million). The order book of Uutechnic Group’s continuing operations stood at EUR 9.4 million (8.6 million) on 30 September 2018. The comparable order book of the Group’s continuing operations, disregarding revenue recognition in accordance with IFRS 15, stood at EUR 11.5 million.

On 28 September 2018, Plc Uutechnic Group Oyj announced that the sale of 81% of Japrotek Oy Ab’s shares to the company’s management was completed mainly as announced on 4 June 2018. In the Group’s financial reporting, Japrotek Oy Ab is classified under discontinued operations and it is included in the Group’s consolidated statement of income until 28 September 2018. The result of discontinued operations for the financial year stood at approximately EUR -1.2 million on 30 September 2018. The transaction sees Uutechnic Group focus increasingly on developing its mixing technology business in accordance with its strategy.


Key Figures, T EUR 1-9 2018
9 months
1-9 2017
9 months
7-9 2018
3 months
7-9 2017
3 months
1-6 2018
6 months
1-6 2017
6 months
 1 – 12 2017
12 months
Turnover, continuing operations 16 538 12 782 6 517 4 293 10 020 8 489 19 077
Operating profit/loss, continuing operations 1 688 514 941 306 747 208 1 196
Operation profit/loss continuing operations % 10 % 4 % 14 % 7 % 7 % 2 % 6 %
Order backlog at the end of the period, continuing operations 9 355 8 555 9 355 8 555 9 365 7 769 8 049

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 the comparison figures have not been adjusted. The change in the revenue recognition principles increased the turnover of the Group’s continuing operations by EUR 2.2 million and operating profit by EUR 0.6 million.


Mixing technology business

As planned, the order book has developed better than in the previous year. The record-high order book has been successfully converted into turnover and delays in deliveries have been avoided thanks to an increase in production capacity. 

Production will be at full capacity in the fourth quarter and the order book for next year is larger than it was at the corresponding time last year. The recent difficulties experienced by component suppliers may be seen as a temporary decline in delivery reliability.

The efficiency improvement programme launched this year has progressed according to plan.


Roll and pipe business

In the third quarter, the demand for rolls was very stable in the forest and energy industries.

The demand for paper machine rolls was on a par with the first half of the year. However, the increase in the demand for pulp and packaging board was seen as a substantial increase in the demand for rolls and cylinders for packaging board and pulp drying machines.

The demand for special pipes and structures manufactured for marine and offshore customers remained very low.

New orders have been received at a steady rate throughout the year in the roll and pipe business, and production capacity has been fully utilised. The order book is at a good level, extending to the first quarter of 2019.

All of Uutechnic Group’s continuing business operations are reported under one segment.




28.02.2018  Review of the financial statements for 1 January – 31 December 2017

09.03.2018  Financial statements, corporate governance statement and remuneration statement for 2017 published

19.0.32018  Invitation to the annual general meeting of Plc Uutechnic Group Oyj

23.03.2018  Uutechnic Group received a remarkable order for complete delivery to Norway

12.4.2018  The resolutions of the annual general meeting of Plc Uutechnic Group Oyj and the decisions of the board of directors

27.04.2018  Uutechic Group’s business review from January to March 2018

04.06.2018  Uutechnic Group to sell 81% of Japrotek Oy Ab’s shares to the company’s management. The implementation of this transaction is conditional on the final decisions of the financiers.

29.06.2018  Finalization for selling majority of Japrotek Oy Ab’s shares is postponed, financial negotiations will continue.

27.07.2018  Half Year Report 1 January – 30 June 2018

17.09.2018  FIN-FSA impose penalty payment of EUR 50.000 on previous Vaahto Group Olc Oyj for violation of disclosure obligation

28.09.2018  The sale of 81% Japrotek Oy Ab*s shares to the company’s management, announced on June 4th 2018, is completed

Stock exchange releases published after the review period

25.10.2018  Changes in Plc Uutechnic Group Oyj’s management team


In Uusikaupunki October 29, 2018


Board of Directors

Further information:

Jouko Peräaho, CEO Plc Uutechnic Group Oyj, +358 500 740 808



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.

Plc Uutechnic Group’s subsidiaries are AP-Tela Oy, Uutechnic Oy and Stelzer Rührtechnik International GmbH.