PONSSE PLC, INTERIM REPORT, 21 OCTOBER 2025 AT 9.00 AM EET
July-September:
- Net sales amounted to EUR 172.7 (169.3) million
- Operating profit totalled EUR 9.6 (18.5) million, equalling 5.6 (11.0) per
cent of net sales
January-September:
- Net sales amounted to EUR 530.4 (526.9) million
- Operating profit totalled EUR 30.2 (19.1) million, equalling 5.7 (3.6) per
cent of net sales
- Net result was EUR 23.7 (0.3) million
- Earnings per share were EUR 0.85 (0.01)
- Order books stood at EUR 163.2 (199.1) million at the end of the period under
review
- Cash flow from business operations was EUR 4.4 (36.5) million
- Equity ratio was 57.7 (55.1) per cent at the end of the period under review
- The company's euro-denominated operating profit is estimated to be slightly
higher in 2025 than in 2024 (EUR 36.8 million)
PRESIDENT AND CEO JUHO NUMMELA:
The forest machine market continued to weaken in the third quarter of the year.
Order intake amounted to EUR 143.4 million, and order books at the end of the
review period totalled EUR 163.2 (199.1) million.
The current geopolitical situation creates constant uncertainty and is widely
reflected in consumer confidence and behaviour. The weakening demand in the
forest industry and the decrease in timber harvesting volumes had a negative
impact on the demand for forest machines, which was particularly evident in the
Finnish market. In certain markets, however, there are signs of a modest
recovery, particularly in Germany, France and the United States, where the
tariff agreement has helped to stabilise the situation.
Our net sales remained at the previous year's level and were EUR 172.7 (169.3)
million in the third quarter. The delivery volumes of new machines remained
unchanged, and the sales of used machines increased slightly. The net sales of
maintenance services remained at a good level despite the challenging situation.
The net sales of Ponsse's technology company Epec continued to grow in the third
quarter.
Our operating profit fell short of the targets, and our relative profitability
was 5.6 (11.0) per cent. This was affected by a weaker-than-expected gross
margin and the development of costs.
The cash flow from business operations for the review period was EUR 4.4 (36.5)
million. Used machine stocks continued to grow as the market situation
deteriorated. Despite a slight increase in used machine sales, stock levels
remained unchanged. The company's solvency remained at a very good level, and
Ponsse's self-sufficiency continued to develop favourably.
Ponsse is currently celebrating its 55th anniversary with a tour that began
earlier this year in Finland. The celebratory tour continued during the summer
and early autumn in the United States, the Nordic countries and Central Europe.
In September, we opened new premises in France, and our dealer Wahlers opened a
new location in Germany. These events drew a delightfully large number of our
customers to celebrate Ponsse's 55th anniversary with us. We are celebrating the
anniversary in about 20 countries around the world this year.
NET SALES
Consolidated net sales for the period under review amounted to EUR 530.4 (526.9)
million, which is 0.7 per cent more than in the comparison period. International
business operations accounted for 75.8 (74.1) per cent of net sales.
Net sales were regionally distributed as follows: Nordic countries and the
Baltics 45.4 (46.1) per cent, Central and Southern Europe 24.9 (22.8) per cent,
North America 14.5 (13.4) per cent, South America 12.7 (15.1) per cent and Asia,
Australia and Africa 2.4 (2.5) per cent.
PROFIT PERFORMANCE
The operating profit amounted to EUR 30.2 (19.1) million. The operating profit
equalled 5.7 (3.6) per cent of net sales for the period under review. The impact
of the Brazilian Full Service contract on profit after the change in provision
for the period under review was EUR -2.6 million. There is a provision of EUR
8.4 million on the Group's balance sheet for a loss-making contract. In the
comparison period the operating profit included, taking into account the change
in provision, an expense of EUR 15.9 million related to the Brazilian Full
service contract. The contract is fixed-term and will expire at the end of 2026.
Consolidated return on capital employed (ROCE) stood at 10.1 (3.7) per cent.
Staff costs for the period under review totalled EUR 89.1 (81.6) million. The
change in staff costs was affected by the planned increase in the number of
personnel during the period under review and salary increases. Other operating
expenses stood at EUR 61.2 (73.6) million. The cost impact of the loss-making
Full Service contract of the Brazilian subsidiary is included in other operating
expenses. The net total of financial income and expenses amounted to EUR -0.9 (
-11.1) million. Exchange rate gains and losses due to currency rate fluctuations
were recognised under financial items, having a net impact of EUR 1.1 (-7.5)
million. During the period under review, EUR 0.3 million of revaluation profits
on interest rate swaps were recognised in the result.
Result for the period under review totalled EUR 23.7 (0.3) million. Diluted and
undiluted earnings per share (EPS) came to EUR 0.85 (0.01).
STATEMENT OF FINANCIAL POSITION AND FINANCING ACTIVITIES
At the end of the period under review, the total consolidated statements of
financial position amounted to EUR 576.0 (564.3) million. Inventories stood at
EUR 241.4 (237.8) million. Trade receivables totalled EUR 60.4 (56.0) million,
while cash and cash equivalents stood at EUR 67.1 (63.2) million. The EUR 3
million receivable related to sale of all Ponsse's shares in its Russian
subsidiary, OOO Ponsse matured in March 2025. The payment period for the
receivable has been extended to December 2025.
Group shareholders' equity stood at EUR 330.6 (309.9) million and parent company
shareholders' equity (FAS) at EUR 314.3 (303.8) million. The amount of interest
-bearing liabilities was EUR 97.9 (106.7) million. The company has ensured its
liquidity by credit facility limits and commercial paper programs. Group's loans
from financial institutions are non-collateral bank loans without financial
covenants. Consolidated net liabilities totalled EUR 30.8 (43.5) million, and
the debt-equity ratio (net gearing) was 9.3 (14.0) per cent. The equity ratio
stood at 57.7 (55.1) per cent at the end of the period under review.
Cash flow from operating activities amounted to EUR 4.4 (36.5) million. Cash
flow from investment activities came to EUR -17.2 (-16.5) million.
ORDER INTAKE AND ORDER BOOKS
Order intake for the period under review totalled EUR 505.0 (493.9) million,
while period-end order books were valued at EUR 163.2 (199.1) million.
DISTRIBUTION NETWORK
With focus on sales and maintenance, the organisation is divided into five
market areas: 1) Nordic countries and the Baltics; 2) Central and Southern
Europe; 3) South America; 4) North America; and 5) Asia, Australia and Africa.
R&D AND CAPITAL EXPENDITURE
Group's R&D expenses during the period under review totalled EUR 18.2 (17.9)
million, of which EUR 5.5 (6.7) million was capitalised.
Investments during the period under review totalled EUR 17.2 (16.9) million. In
addition to capitalised R&D expenses, they consisted of investments in buildings
and ordinary investments in machinery and equipment.
PERSONNEL
The Group had an average staff of 2,073 (2,103) during the period under review
and employed 2,112 (2,057) people at the end of the period.
SHARE-BASED INCENTIVE PLANS
The Board of Directors of Ponsse Plc approved two new Ponsse Group's share-based
incentive plans for the Group's CEO and key employees in 2023. A stock exchange
release regarding the incentive plans was published on 3 March 2023. The aim of
the new plans is to align the objectives of the shareholders and plan
participants for increasing the value of the company in the long-term, to retain
the participants at the company and to offer them competitive reward schemes
that are based on earning and accumulating the company's shares. The Board of
Directors of Ponsse Plc decided on new performance periods of share-based
incentive plans in April 2025 and published a stock exchange release about them
on 25 April 2025.
The CEO Performance-Based Share Ownership Plan
The CEO plan consists of five performance periods, calendar years 2023, 2023
-2024, 2023-2025, 2024-2026 and 2025-2027. A restriction period is included in
performance periods 2023 and 2023-2024, which begins from the reward payment and
ends on 31 December 2025. The matching reward will be paid by the end of May
2024, 2025 and 2026. The matching shares delivered as a matching reward cannot
be transferred during a restriction period that will end on 31 December 2025, 31
December 2026 and 31 December 2027. The performance-based reward will be paid by
the end of May after the end of each performance period.
In year 2025, a total of 5,301 shares worth EUR 145,155 were paid for the 2024
performance period, with a cost impact of EUR 0.3 million for the company. A
stock exchange release concerning these was issued on 30 June 2025.
During the performance period 2025-2027 of the CEO Performance-Based Share
Ownership Plan, the rewards are based on the group's operating result, revenue,
personnel satisfaction and injury frequency (LTIF). The amount of rewards to be
paid based on the performance period 2025-2027 will correspond to an approximate
maximum total of 50,000 Ponsse Plc shares, including also the portion to be paid
in cash (gross reward). The matching shares delivered as a matching reward
cannot be transferred during a restriction period that will end on 31 December
2027. The performance-based reward will be paid by the end of May 2028.
The payment of rewards under both the conditional and performance-based
shareholding plans requires that the person's employment relationship continues.
Key Employee Performance-Based Matching Share Plan
The key employees' plan consists of three performance periods, each lasting for
three calendar years: 2023-2025, 2024-2026 and 2025-2027. The prerequisite for
participating in the performance period and receiving the reward is that the key
employee participating in the plan acquires shares in the company at the
beginning of the performance period. Ponsse delivers matching shares for the
performance period in a 2:1 ratio: the key employee receives one (1) additional
share for every two (2) shares they have acquired. The conditional reward will
be paid in 2023, 2024 and 2025 after the acquisition of the investment shares
and confirmation of the reward, as soon as practically possible. Shares received
as conditional rewards may not be transferred during the restriction periods
ending on 31 December 2025, 31 December 2026 and 31 December 2027. The
performance-based reward will be paid by the end of May following the end of
each performance period. The portion of the maximum reward to be paid to a
participant is determined based on the achievement of the targets set for the
earning criteria in relation to the investment made by the participant. The
target group includes key employees, including the members of the Group
Management Team, with the exception of the CEO.
The rewards for the 2023-2025 performance period of the key employees' matching
share plan are based on the Group's operating result, net sales and employee
satisfaction. The accident frequency rate has been added to the terms of the
2024-2026 and 2025-2027 performance periods. The rewards to be paid for the
2025-2027 performance period are estimated to correspond to no more than 60,000
Ponsse Plc shares (net reward). In addition, the company will pay the taxes and
statutory social security contributions incurred by the participants in
connection with the payment of the rewards. During the period under review, the
costs related to the 2023-2025, 2024-2026 and 2025-2027 performance periods of
the share based incentive plans amounted to a total of EUR 0.6 million.
For the performance periods that started in 2023, 2024 and 2025, the total cost
impact of the share-based incentive plans for the CEO and key employees is
estimated to be around EUR 4.9 million for 2023-2027.
SHARE PERFORMANCE
The company's registered share capital consists of 28,000,000 shares. The
trading volume of Ponsse Plc shares for 1 January - 30 September 2025 totalled
616,300, accounting for 2.20 per cent of the total number of shares. Share
turnover amounted to EUR 16.2 million, with the period's lowest and highest
share prices amounting to EUR 19.55 and EUR 32.00, respectively.
At the end of the period, shares closed at EUR 26.60, and market capitalisation
totalled EUR 744.8 million.
At the end of the period under review, the company held 4,812 treasury shares.
ANNUAL GENERAL MEETING
A separate release was issued on 8 April 2025 regarding the authorizations given
to the Board of Directors and other resolutions at the AGM.
SUSTAINABILITY
Ponsse has determined key sustainability targets for its business operations.
Their implementation is promoted through annual function-specific targets and
measures as part of the company's strategy process. Ponsse works to improve its
people's well-being, create innovative sustainable solutions that respect
nature, develop its operations without burdening nature, and be a reliable
partner that values community.
During the third quarter, the company's Board of Directors reviewed and approved
the double materiality assessment as part of the company's annual strategy
process. This assessment forms the basis for Ponsse's sustainability reporting
and guides the company's operations, as well as the sustainability weightings of
resources.
During the review period, environmental auditing was integrated into the ESW
(Effective and Safe Workshop) audit program of the Ponsse service network. The
program assesses the performance of service centers in terms of customer
service, competence, safety and environmental aspects. At the same time, the
company's waste guidelines were extended to country organisations to support the
goal of reducing waste volumes by 40% and increasing the recycling rate to 70%
by 2030. During the review period, the company introduced a vehicle procurement
policy as part of its emissions reduction roadmap. Vehicles represent the
largest category of emissions from Ponsse's own operations (Scope 1 and 2), and
the company aims to reduce these emissions by 42% by 2030.
During the review period, the company's management participated in diversity
training, which aims to develop a culture of equality and non-discrimination
that is in line with the company's values. The company continued to communicate
actively about safety.
In the third quarter, Ponsse opened a new service center in Peyrat-le-Château,
France. The property investment improves the local service level and working
conditions, and it also takes environmental aspects into account. The service
center is powered by a rooftop solar plant, while rainwater collected through a
harvesting system is used for washing machinery and in sanitary facilities. The
premises operate on renewable electricity. The new premises also support the
development of the circular economy in the region. In France, Ponsse is
centralising the storage and refurbishment of used machines in Peyrat-le
-Château.
According to the Trust & Reputation 2025 survey conducted by Reputation and
Trust Analytics, Ponsse is the second most reputable company in Finland. The
study assessed companies from the perspective of eight reputation dimensions.
Ponsse ranked as the best company in the areas of products and services,
sustainability, and management. Private investors ranked Ponsse as the most
reputable company in Finland. These recognitions strengthen Ponsse's position as
a reliable and respected operator.
In the EthiFinance sustainability assessment, Ponsse's overall score rose to
61/100 (53/100) points. Governance and environmental responsibility emerged as
the company's strongest sustainability areas in the assessment.
RISK MANAGEMENT
Our risk management is based on the company's values and strategic and financial
goals. The purpose of risk management is to support the company's strategic
objectives and to secure its financial development and the continuity of its
business. Ponsse's management conducts an annual risk assessment that includes
the sustainability risks and opportunities impacting the company's business.
Within them, aspects related to climate change, biodiversity, and resource
efficiency together with digitalisation and technological development are
emphasised.
The purpose of risk management is to identify, assess, and monitor business
-related risks that may impact the realisation of the company's strategic and
financial objectives or the continuity of business. This information is used to
decide what measures will be required to prevent risks and respond to current
risks.
Risk management is part of the company's daily business and has been
incorporated into its management system. Risk management is directed by the risk
management policy approved by the Board of Directors.
A risk is any event that may prevent the company from achieving its objectives
or threatens the continuity of business. A risk may also be a positive event, in
which case the risk is treated as an opportunity. Each risk is assessed on the
basis of its impact and probability. The company's risk management methods
include the avoidance, mitigation, and transfer of risk. Risks may also be
managed by controlling and minimising their impacts.
SHORT-TERM RISK MANAGEMENT
The most significant short-term risks are related to the global geopolitical
situation, relatively weak economic development and uncertainty about the
development of the interest rates on financing. The geopolitical situation is
also reflected in trade policy through possible special tariffs and
protectionism. Financial market disruptions, sanctions and growing cybersecurity
threats are adding to the uncertainty. The risks in the financial market may
increase fluctuations in developing countries' foreign exchange markets, and
continued instability of the global economy and growing financial costs may also
reduce the demand for forest machines.
In this challenging situation, Ponsse's strong financial position is important.
In terms of financing, Ponsse has carried out all measures necessary to ensure
business continuity, and its financing situation is regularly assessed. The key
objective of the company's financial risk management is to ensure liquidity and
manage interest rate and currency risks. The company's financial position and
liquidity have remained strong as a result of binding credit limit facilities
agreed with several financial institutions. The impact of interest rate risks is
reduced by means of credit linked to different reference rates, as well as
interest rate swaps. The risk of currency rate fluctuations is partly mitigated
through derivative contracts.
The parent company monitors the changes in the Group's internal and external
trade receivables and the associated risk of impairment. The company has long
-term and extensive service contracts, which may involve operational risks.
Changes taking place in the fiscal and customs legislation in countries to which
Ponsse exports may hamper the company's export trade or reduce its
profitability. Global supply chain disruptions can make it more difficult to
manage PONSSE forest machine production schedules, in addition to tying up more
capital in the company's supply chain and increasing the risks related to
working capital management.
Ponsse has strengthened cybersecurity by further specifying its software and
hardware update policy and user manuals. The ability to detect and respond to
abnormal activity in data networks has been improved, and the company's digital
services are regularly tested for cyberattacks in cooperation with an expert
partner. The implementation of the NIS2 Directive on cybersecurity has proceeded
on schedule.
OUTLOOK FOR THE FUTURE
The company's euro-denominated operating profit is estimated to be slightly
higher in 2025 than in 2024 (EUR 36.8 million).
Economic uncertainty is expected to continue and affect demand for both forest
industry end products and forest machinery. Trade policy, the geopolitical
situation and economic uncertainty create a challenging operating environment
where cost discipline and appropriate investment planning are in the focus.
We invest in customer relations and strong customer service and improve our
efficiency by introducing unified and cost-effective practices in line with new
operating model. Investments will continue to be prudent: we will develop new
products and digital services and strengthen our sales and service network
appropriately. Other investments will be assessed on a case-by-case basis. We
monitor cost development closely and will respond as required by the situation.
The status of Ponsse Brazil's Full Service contract, which is expiring at the
end of 2026, is under close scrutiny, and we will be able to specify the
adequacy of the provision in the last quarter of the year until the end of the
contract period.
EVENTS AFTER THE PERIOD
There are no other known events after the end of the reporting period that would
require either adjustments to the information presented for the period under
review or disclosure of additional information.
PONSSE GROUP
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (EUR 1,000)
1-9/25 1-9/24 1-12/24
NET SALES 530,407 526,927 750,427
Increase (+)/decrease (-) in 23,464 12,290 -4,782
inventories of finished goods and work
in progress
Other operating income 6,346 4,524 7,689
Raw materials and services -353,273 -342,720 -475,554
Expenditure on employment-related -89,136 -81,614 -110,199
benefits
Depreciation and amortisation -26,370 -26,677 -36,033
Other operating expenses -61,228 -73,590 -94,793
OPERATING PROFIT 30,209 19,140 36,755
Share of results of associated -209 164 135
companies
Financial income and expenses -863 -11,119 -15,420
RESULT BEFORE TAXES 29,136 8,185 21,470
Income taxes -5,408 -7,863 -8,964
NET RESULT FOR THE PERIOD 23,729 322 12,506
OTHER ITEMS INCLUDED IN TOTAL
COMPREHENSIVE RESULT
Translation differences related to -6,925 3,172 7,792
foreign units
TOTAL COMPREHENSIVE RESULT FOR THE 16,804 3,494 20,298
PERIOD
Diluted and undiluted earnings per 0.85 0.01 0.45
share
7-9/25 7-9/24
NET SALES 172,668 169,254
Increase (+)/decrease (-) in 839 137
inventories of finished goods and work
in progress
Other operating income 1,547 1,181
Raw materials and services -110,058 -101,467
Expenditure on employment-related -26,386 -23,566
benefits
Depreciation and amortisation -8,849 -8,969
Other operating expenses -20,117 -18,037
OPERATING PROFIT 9,643 18,534
Share of results of associated -74 -35
companies
Financial income and expenses -440 -2,746
RESULT BEFORE TAXES 9,129 15,752
Income taxes -1,540 -3,714
NET RESULT FOR THE PERIOD 7,589 12,038
OTHER ITEMS INCLUDED IN TOTAL
COMPREHENSIVE RESULT
Translation differences related to -801 -1,061
foreign units
TOTAL COMPREHENSIVE RESULT FOR THE 6,788 10,977
PERIOD
Diluted and undiluted earnings per 0.27 0.43
share
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (EUR 1,000)
30 Sep 25 30 Sep 24 31 Dec 24
ASSETS
NON-CURRENT ASSETS
Intangible assets 43,713 49,455 48,177
Goodwill 6,612 6,658 6,535
Property, plant and equipment 111,613 115,060 116,183
Financial assets 376 374 378
Investments in associated companies 712 1,036 1,007
Non-current receivables 737 219 297
Deferred tax assets 9,817 8,449 8,759
TOTAL NON-CURRENT ASSETS 173,580 181,251 181,336
CURRENT ASSETS
Inventories 241,407 237,843 219,123
Trade receivables 60,384 55,964 54,107
Income tax receivables 4,983 1,378 1,042
Other current receivables 28,539 24,729 23,868
Cash and cash equivalents 67,113 63,152 83,590
TOTAL CURRENT ASSETS 402,426 383,067 381,730
TOTAL ASSETS 576,007 564,318 563,066
SHAREHOLDERS' EQUITY AND LIABILITIES
SHAREHOLDERS' EQUITY
Share capital 7,000 7,000 7,000
Other reserves 4,358 3,833 3,824
Translation differences 16,569 18,873 23,494
Treasury shares -122 -476 -47
Retained earnings 302,811 280,670 292,922
EQUITY OWNED BY PARENT COMPANY SHAREHOLDERS 330,615 309,900 327,193
NON-CURRENT LIABILITIES
Interest-bearing liabilities 62,658 66,178 63,914
Deferred tax liabilities 1,045 -939 1,167
Other non-current liabilities 5,146 6,242 5,147
TOTAL NON-CURRENT LIABILITIES 68,850 71,480 70,228
CURRENT LIABILITIES
Interest-bearing liabilities 35,261 40,506 23,017
Provisions 14,571 21,079 19,238
Tax liabilities for the period 71 4,726 1,569
Trade creditors and other current liabilities 126,638 116,627 121,821
TOTAL CURRENT LIABILITIES 176,542 182,937 165,645
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES 576,007 564,318 563,066
CONSOLIDATED STATEMENT OF CASH FLOWS (EUR 1,000)
1-9/25 1-9/24 1-12/24
CASH FLOWS FROM OPERATING ACTIVITIES
Net result for the period 23,729 322 12,506
Adjustments:
Financial income and expenses 863 11,119 15,420
Change in provisions -5,010 7,975 6,746
Share of the result of associated companies 209 -164 -135
Depreciation and amortisation 26,370 26,677 36,033
Income taxes 5,408 7,863 8,964
Other adjustments 1,778 -2,300 -1,749
Cash flow before changes in working capital 53,347 51,492 77,785
Change in working capital:
Change in trade receivables and other receivables -12,298 16,533 16,945
Change in inventories -28,281 1,633 22,741
Change in trade creditors and other liabilities 7,483 -22,502 -17,181
Interest received 200 248 1,705
Interest paid -2,310 -3,968 -4,922
Other financial items -1,659 -305 -3,292
Income taxes paid -12,111 -6,650 -8,780
NET CASH FLOWS FROM OPERATING ACTIVITIES (A) 4,371 36,481 85,001
CASH FLOWS USED IN INVESTING ACTIVITIES
Investments in tangible and intangible assets -17,221 -16,884 -21,591
Proceeds from sale of tangible and intangible assets 59 405 562
NET CASH FLOWS USED IN INVESTMENT ACTIVITIES (B) -17,162 -16,480 -21,029
CASH FLOWS FROM FINANCING ACTIVITIES
Withdrawal of current loans 15,000 15,000 35,000
Repayment of current loans -1,719 -27,095 -68,745
Lease repayments -3,895 -3,951 -5,712
Dividends paid -13,990 -15,400 -15,400
NET CASH FLOWS FROM FINANCING ACTIVITIES (C) -4,603 -31,447 -54,857
Change in cash and cash equivalents (A+B+C) -17,395 -11,446 9,115
Cash and cash equivalents on 1 Jan 83,590 74,002 74,002
Impact of exchange rate changes 918 596 473
Cash and cash equivalents on 30 Sep/31 Dec 67,113 63,152 83,590
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (EUR 1,000)
A = Share capital
B = Other reserves
C = Translation
differences
D = Treasury shares
E = Retained earnings
F = Total shareholders'
equity
EQUITY OWNED BY PARENT COMPANY SHAREHOLDERS
A B C D E F
SHAREHOLDERS' EQUITY 7,000 3,824 23,494 -47 292,922 327,193
1 JAN 2025
Comprehensive result:
Net result for the 23,729 23,729
period
Other items included in
total comprehensive
result:
Translation differences -6,925 -6,925
Total comprehensive result -6,925 23,729 16,804
for the period
Direct entries to retained 150 150
earnings
Transactions with
shareholders
Share Plan 534 534
Dividend distribution -13,990 -13,990
Treasury shares, change -75 -75
*)
Transactions with 534 -75 -13,990 -13,531
shareholders in total
SHAREHOLDERS' EQUITY 7,000 4,358 16,569 -122 302,811 330,615
30 SEP 2025
SHAREHOLDERS' 7,000 3,460 15,702 -463 296,101 321,799
EQUITY 1 JAN 2024
Comprehensive result:
Net result for the 322 322
period
Other items included in
total comprehensive
result:
Translation differences 3,171 3,171
Total comprehensive result 3,171 322 3,493
for the period
Direct entries to retained -352 -352
earnings
Transactions with
shareholders
Share Plan
Dividend distribution -15,400 -15,400
Treasury shares, change 373 -13 360
Transactions with 373 -13 -15,400 -15,040
shareholders in total
SHAREHOLDERS' 7,000 3,833 18,873 -476 280,671 309,900
EQUITY 30 SEP 2024
*) Treasury shares procured for incentive schemes
NOTES TO THE RELEASE FOR THE INTERIM REPORT
The stock exchange release for the interim report has been prepared observing
the recognition and valuation principles of IFRS, but some of the IAS 34
requirements have not been complied with. The interim report has been prepared
applying the same accounting principles as for the annual financial statements
dated 31 December 2024, except for the IAS/IFRS standard and interpretation
changes that entered into force on 1 January 2025. These standard and
interpretation changes did not have a material impact on the interim report.
The figures presented in the stock release have not been audited.
The figures presented in the stock release have been rounded and may therefore
differ from those given in the official financial statements.
The company monitors changes in US customs policy and continues to analyse the
impact of import duties. Sales in the United States accounted for approximately
10 percent of the Group's net sales during the period under review. Import
duties will not have a significant impact on the Group's profitability in 2025,
as the company has mainly delivered and invoiced customers for machines that
were already in the country and in stock.
This communication includes future-oriented statements that are based on the
assumptions currently made by the company's management and its current decisions
and plans. Although the management believes that the future expectations are
well founded, there is no certainty that these expectations will prove to be
correct. This is why the results may significantly deviate from the assumptions
included in the future-oriented statements as a result of, among other things,
changes in the economy, markets, competitive conditions, legislation or currency
exchange rates.
30 Sep 25 30 Sep 24 31 Dec 24
1. LEASING COMMITMENTS (EUR 1,000) 2,051 1,228 1,977
2. CONTINGENT LIABILITIES (EUR 1,000) 30 Sep 25 30 Sep 24 31 Dec 24
Guarantees given on behalf of others 2 0 2
Responsibility of checking the VAT 7,367 4,813 8,419
deductions made on real property
investments
Other commitments 386 275 193
TOTAL 7,755 5,089 8,615
3. PROVISIONS (EUR 1,000) Guarantee provision Other provisions Total
1 January 2025 5,620 13,618 19,238
Provisions added 1,466 2,600 4,066
Provisions cancelled -952 -8,056 -9,009
Exchange rate difference 0 276 276
30 September 2025 6,134 8,437 14,571
The Group has recognized a provision in the item of other provisions based on a
Full Service contract entered into by the Brazilian subsidiary as the fulfilment
of the contractual obligations is estimated to generate expenses that exceed the
expected economic benefits obtained from the agreement. The provision has been
measured based on the best possible estimate of the expenses arising from the
fulfilment of the obligations on the closing date.
KEY FIGURES AND RATIOS 30 Sep 25 30 Sep 24 31 Dec 24
R&D expenditure, MEUR 18.2 17.9 24.6
Capital expenditure, 17.2 16.9 21.6
MEUR
as % of net sales 3.2 3.2 2.9
Average number of 2,073 2,103 2,083
employees
Order books, MEUR 163.2 199.1 188.6
Equity ratio, % 57.7 55.1 58.7
Diluted and undiluted 0.85 0.01 0.45
earnings per share
(EUR)
Equity per share (EUR) 11.81 11.07 11.69
Order intake, MEUR 505.0 493.9 706.9
FORMULAE FOR FINANCIAL INDICATORS
Return on capital employed, %:
Result before taxes + financial expenses
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-------------------------------------
Shareholder´s equity + interest-bearing financial liabilities (average during
the year) * 100
Average number of employees:
Average of the number of personnel at the end of each month. The calculation has
been adjusted for part-time employees.
Net gearing, %:
Interest-bearing financial liabilities - cash and cash equivalents
--------------------------------------------------------------------------------
---
Shareholders' equity * 100
Equity ratio, %:
Shareholders' equity + Non-controlling interests
------------------------------------------------------------------------
Balance sheet total - advance payments received * 100
Earnings per share:
Net result for the period - Non-controlling interests
--------------------------------------------------------------------------------
---------------------------
Average number of shares during the accounting period, adjusted for share issues
Equity per share:
Shareholders' equity
--------------------------------------------------------------------------------
-------------
Number of shares on the balance sheet date, adjusted for share issues
Order intake:
Net sales for the period + Change in order books during the period
Vieremä, 21 October 2025
PONSSE PLC
Juho Nummela
President and CEO
FURTHER INFORMATION
Juho Nummela, President and CEO, tel. +358 400 495 690
Petri Härkönen, CFO, tel. +358 50 409 8362
DISTRIBUTION
Nasdaq Helsinki Oy
Principal media
www.ponsse.com
Ponsse Plc is a company specialising in the sales, manufacture, servicing and
technology of cut-to-length method forest machines and is driven by genuine
interest in its customers and their business. Ponsse develops and manufactures
sustainable and innovative harvesting solutions based on customers' needs.
The company was established by forest machine entrepreneur Einari Vidgren in
1970, and it has been a leader in timber harvesting solutions based on the cut
-to-length method ever since. Ponsse is headquartered in Vieremä, Finland. The
company's shares are quoted on the Nasdaq Nordic list.