Strong period for Pöyry underlined by forest industry

Major equipment supplier, The Pöyry Group, has recorded improved net sales for the first nine months of this year of €512.7 million and a pre-tax profit of €53.2 million, partly thanks to a growing contribution from its forest industry.

Net sales for the corresponding period in 2006 were almost 14% lower at €450.9 million, with a pre-tax profit figure of €34.1 million.

Net sales for forest industries came in at €197.2 million compared to €164.6 million last year - an improvement of almost 20%. That delivered an operating profit more than 70% greater than in the first nine months of 2006 of €26.3 million.

Most of the forest industry’s new investments have been directed to Latin America, while several biofuel projects, especially in North America, have improved the business group’s capacity utilisation and earnings, according to Pöyry.

New openings, among others in the chemical industry, have also improved the earnings for the period under review.

“Demand for local engineering services and operations improvement services have remained stable, as has demand for consulting services. The business group’s order stock has increased, amounting to €143.3 million (up from €111.4 million at the end of 2006), and is on a good level,” the company said.

“The most important new projects received during the review period were the implementation of the bleached hardwood kraft pulp mill of VCP - MS Celulose Sul Mato-Grossense in Brazil (€54 million); Stora Enso’s paper machine rebuild at Wisconsin Rapids in the US; the rebuild of two paper machines for Billerud AB in Sweden; Holmen Paper AB’s TMP plant upgrade at the Braviken mill in Sweden (€2 million); the containerboard production line project with Mondi Packaging Paper GmbH (€12 million); and Portucel’s new paper mill project in Portugal (€10 million).”