As assumed in 2008 the influence of the global recession can be seen from the decreasing of the turnover in 2009. The effects were larger than estimated at the end of 2008. Regardless of the situation in the construction markets corporation reached clearly profitable result. Under these circumstances profit was on an excellent level.
FINANCIAL PERIOD
FINANCIAL PERIOD
1/2009 - 12/2009
1/2008 - 12/2008
TURNOVER, EUR million
25,6
39,4
PROFIT, EUR million
1,5
3,9
PROFIT PERCENTAGE
5,9
9,8
RESULT BEFORE EXTRAORDINARY ITEMS, EUR million
1,6
4,1
PROFIT FOR THE FINANCIAL PERIOD, EUR million
1,2
3,0
YIELD ON INVESTED CAPITAL
14,3
36,4
INVESTMENTS, EUR million
0,1
1,6
PERSONNEL EXPENSES, EUR million
5,8
7,4
AVERAGE PERSONNEL DURING THE FINANCIAL PERIOD
143
170
INVOICING, EUR million
18,4
36,1
PROPORTION OF EXPORTS IN TURNOVER, %
12,3
0
EQUITY RATIO
70,8
63,3
It is clear that turnover will decrease and profitability will be at a low level in 2010. There is some evidence on market improvements, but the change for better will happen quite slowly. However it can be estimated that both turnover and profitability will be better in 2011 than 2010.
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