John Nurminen Oy grew at a clearly faster rate than the industry as a whole during 2004. The company´s turnover was EUR 97 million and the operating profit before extraordinary items and taxes was EUR 9.6 million. The company´s financial result developed very favourably and all business areas showed a positive result, as well.
The company´s turnover was EUR 97 million, an increase of 17 per cent on
the previous year. The operating profit before extraordinary items and
taxes grew from EUR 5.6 million in the previous year to EUR 9.6 million.
The return on investment was 23 per cent, thus exceeding the 14 per cent
set by the company as its target. The company employed 678 persons,
551 of these working in Finland and 127 abroad.
Increases in the trade between Russia and Finland and in transit transports
were the factors that most influenced the growth in the business. The
strong growth in Russian economy was particularly apparent in the Railway
Logistics Unit, which grew at a very fast pace. Transit transports produced
an increase in the Vehicle Logistics Unit´s operations.
"John Nurminen´s turnover has increased during the last three years from
EUR 60 million to EUR 97 million, or by 60 per cent. The development
indicates that the objectives for growth and profitability are achievable. We
expect to reach a turnover of approx. EUR 130 million by 2007," explains
Managing Director Jan Lönnblad the company´s growth objective.
John Nurminen identified in 2004 the focal areas that will enable it to grow
in future years. Investments totalled EUR 15 million. The company
developed significantly the business activities linked to railway traffic
between Finland and Russia, which enhances the competitiveness of both
the Timber Logistics and the Railway Logistics Units. Completion of the
terminal construction and modernisation projects will also help expand the
business activities. The largest project was the construction of a new
chemical terminal at Mussalo in Kotka for Chemical Logistics, which is a
service provided by the Cargo Handling and Value-Added Services Unit. The
Vehicle Logistics Unit´s terminal at the port of Paldiski in Estonia was
opened in early 2005. The terminal enables the distribution of new vehicles
to the Baltic and CIS countries via Estonia. Also the competitiveness of
domestic vehicle transports was enhanced through diversifying the transport
equipment and upgrading the information systems.
John Nurminen´s business environment is expected to remain similar to
that of 2004. The growth in the Finnish economy will continue at a very
moderate rate, but the Russian and Baltic markets will continue to develop
very positively. Possible industrial disputes will bring the most significant
threat to the business environment with a possible negative effect on
operations as well as on the 2005 financial result.
The investments made during the year will enable the turnover to grow
moderately in 2005, as well. Development of the existing businesses and
strengthening of the Units´ competitiveness will be continued. In order to
achieve the growth objective, expansion through acquisitions will be
necessary and suitable targets for reaching John Nurminen´s aims are
constantly investigated.
Further information:
Managing Director Jan Lönnblad, John Nurminen Oy, tel. +358 10 545
2420
Administrative Director Kenneth Huomo, John Nurminen Oy, tel. +358 10
545 2598
JohnNurminen key figures 2002-2004