Nurminen NOW
Nurminen Logistics in 2012: Net sales increased and the
operating result improved significantly
President and CEO Topi Saarenhovi describes 2012 as a turning point for the company. – Our profitability improved in every business unit, and the overall improvement even outpaced our expectations. We grew our business operations, particularly in the active markets of Russia and its neighbouring countries. The company’s largest business unit, Railway Logistics, developed particularly strongly. We were successful in developing our Russian organisation. The profitability of Transit Logistics increased significantly in Nurminen Logistics’ Baltic operations. This increase was due in particular to the growth achieved by our Lithuanian subsidiary in the container export market and the higher activity in container traffic to Russia and Central Asia through the Baltics. We achieved positive development in the profitability of Special Transports and Projects. This was mainly due to strong growth in special transports and projects delivered to Russia and its neighbouring countries. In 2013, the focus of our business
Fact box • Net sales were EUR 78.4 million (2011: EUR 76.6 million). Reported operating result was EUR 5.4 million (EUR 1.9 million). • Operating margin was 6.9% (2.5%). • Operating result excluding nonrecurring items was EUR 5.6 million (EUR 1.1 million). • EBT was EUR 4.0 million (EUR –0.7 million). • Net result was EUR 2.7 million (EUR –1.5 million). • Earnings per share, undiluted: EUR 0.05 (EUR –0.19). • Earnings per share, diluted: EUR 0.05 (EUR –0.19). development will be on growing our railway logistics business in Russia and its neighbouring markets. We will continue the project to expand our fleet of rolling stock that began in 2011. We also aim to grow our project transport business in Russia and its neighbouring markets and increase profitability in Vuosaari and
Finnish operations divided into two separate companies Nurminen Logistics turned its Finnish operations into two independent companies at the beginning of 2013. The Forwarding and Value Added Services, Railway Logistics, and Transit Logistics business units are now Nurminen Logistics Services Oy, and the Special Transports and Projects business unit is Nurminen Logistics Heavy Oy. The Group’s Baltic operations were also restructured, with the companies responsible for Estonian and Lithuanian operations transferred directly under the parent company in late 2012. The Group management and supporting functions remain in Nurminen Logistics Plc, which provides the Group companies with financial and administrative services. The restructuring is purely administrative in nature; with it, the company streamlined its legal structure and cost allocation to current business operations. Personnel were transferred to the new companies under unchanged terms of employment. s
across other operations through various means, including the improvement of operational efficiency, Saarenhovi adds.
Outlook Nurminen Logistics expects its net sales and operating result to be at the same level as in 2012 and earnings per share to improve. The company’s long-term goal is to grow at a faster rate than the market, on average by over 15% per year. Going forward, over 50% of net sales will come from the growth markets of Russia and its neighbouring countries. The company’s further long-term goals are to improve profitability, achieve an operating profit level of 10% and return on equity of 20%. The text is based on Nurminen Logistics’ Financial Statement Release published on 26 February. More information on Nurminen Logistics’ operations and result in 2012 is available in the Annual Report. Order the Annual Report as a hard copy or read the electronic version at www.nurminenlogistics.com. s
Vote for the best article in this magazine and win a softshell jacket! As the best article of Nurminen News 2/2012, the readers selected Slava is Nurminen’s Traffic Superman, which described the work of the Imatra-based Slava Gladilin. The article received 26% of the votes. The next most popular articles were the story about service productisation at the Vuosaari logistics centre and The teacher’s pension goes into coffee and stamps, a story on investor Erkki Sinkko. Both received 19% of the vote. A one day in Stockholm cruise with Silja Line in a Deluxe class cabin was raffled among all voters and the lucky winner was Seija Hummelin-Uusilehto. Congratulations to the winner! Enjoy the cruise! You can vote for the best article in this magazine at www.nurminenlogistics.com. All voters will be entered into a lucky draw with a Grizzly Tulsa softshell jacket. The voting ends at the end of September 2013. s
Nurminen News 1/2013
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