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Peikko Group Year 2010: Operative Break-Even Result

Peikko Group's net sales in 2010 increased by 5 percent and amounted to EUR 77.0 million (2009: EUR 73.5 million). The construction market, where Peikko operates, experienced still extreme challenges during the spring of 2010, however, during fall 2010 the situation improved and Peikko was able to reach nearly break-even operating profit for the total year 2010. If invoicing of certain non-finalized projects (EUR 4.7 million) would be taken into consideration, Peikko was already operatively profitable when measured in operating profit. The operative growth of Peikko was 11 percent in 2010.

"We target a sales increase of 20 percent in 2011. Based on the results from January-February and the order book for March-June this target looks realistic. After a devastating year 2009 and a very challenging year 2010 we are finally back doing healthy business - and looking for new opportunities as we proceed. I would like to take the opportunity to thank our customers and other partners for excellent cooperation in trying times, and our employees for their resilience during the past years." states Topi Paananen, CEO of Peikko Group Corporation.

Peikko Group Corporation - M€

2010
2009
Change

Net sales

77,073,5+5 %

Operating profit (EBIT)

-0,6-3,6

Balance sheet total

74,269,1+7 %

Personnel, average

673736-9 %

Further information:

Topi Paananen, CEO, Peikko Group Corporation, Tel. + 358 50 384 3001, email: topi.paananen@peikko.com

Peikko Group Corporation is a Finnish family-owned company specializing in composite beams and fastening products for concrete connections. Peikko Group has subsidiaries in Austria, Canada, China, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Italy, Latvia, Lithuania, the Netherlands, Norway, Poland, Russia, Saudi Arabia, Slovakia, Spain, Sweden, Switzerland, Turkey, Ukraine, the United Arab Emirates and the United Kingdom. The production facilities of Peikko are located in China, Finland, Germany, Lithuania, Russia, Slovakia, United Arab Emirates, and the United Kingdom. Peikko employs more than 700 people. Further information: www.peikko.com