Peikko Group’s net sales in 2013 amounted to EUR 126.1 million (MEUR 112.9) and grew by 11.7 percent (8%). The net sales level can be considered reasonable, as most construction markets did not grow during the same period. Profit before taxes was EUR 3.6 million (MEUR 4.3). Peikko Group´s equity ratio remained healthy and was 45 percent.
Profit before taxes (EBT)
Balance sheet total
During 2013 Peikko made a number of investments to increase capacity and efficiency in manufacturing in Europe. The single largest investment was the renovation of premises and machinery of the new manufacturing unit in Kaunas, Lithuania. Machinery investments and other upgrades were also made in the production units in Finland, Germany, and Slovakia. Investments amounted to EUR 8.4 million (MEUR 5.1). In addition Peikko acquired in late autumn 2013 a small UK based company operating in the floor joint business. The acquisition will result in several new product launches during Q2/2014.
“Last year Peikko succeeded in creating additional business volume in many geographical areas and product segments. Unfortunately we did not quite meet the profitability targets, mainly due to increased sales and engineering personnel, investment related costs, and several write-offs in inventory and other assets. Nevertheless, we remain very optimistic and estimate both sales volume and profitability increase in 2014. The good start of the year supports our view that a business level exceeding EUR 140 million can be reached during this year” concludes Topi Paananen, CEO of Peikko Group Corporation.
Topi Paananen, CEO, Peikko Group Corporation, Mobile +358 50 384 3001, Email: email@example.com
Main media, Peikko websites
Peikko Group in brief:
Peikko Group Corporation is a leading global supplier of concrete connections and composite structures. Peikko’s innovative solutions make the customers’ building process faster, easier and more reliable. Peikko has subsidiaries in 30 countries in Asia-Pacific, Europe, the Middle East, and North America, with manufacturing operations in 9 countries. Peikko’s net sales in 2013 were EUR 126 million. Peikko is a family-owned and run company with over 1000 professionals. Peikko was founded in 1965 and is headquartered in Lahti, Finland. Further information: www.peikko.com.