PKC group: Net sales up 131.7 percent

Net sales grew 131.7% totalling EUR 714.2 million, compared to same period last year at EUR 308.2 million. Operating profit before PPA depreciation and amortization and non-recurring items was EUR 53.3 million (EUR 31.5 million same period last year). During the report period PPA depreciation and amortization totalled EUR 10.6 million (EUR 1.2 million same period last year). Operating profit was EUR 39.4 million (EUR 25.7 million last year) and 5.5%0 (8.3% same period last year) of net sales. Net profit for the report period amounted to EUR 23.3 million compared to EUR 17.6 million for the same period last year. “Net sales were impacted during third quarter by our European customers’ vacation period related production shut-downs and in North America due to the lowered demand for trucks. In Brazil the truck market recovered and, as a result, our net sales began to grow there at the end of the report period.” Stated president and CEO Matti Hyytiäinen in the report. “The outlook for PKC’s commercial vehicle customers’ demand for the rest of the year is threatened by the increased uncertainty in the financial environment. This might result in temporary customer production shut-downs that may last longer than currently anticipated and also in lower daily production quantities. In Brazil the governmental incentives have boosted heavy truck sales and the production volumes are expected to grow by the end of the year.” Hyytiäinen continued.