News

Stable financial performance with a strong free cash flow in 2012

Rettig Group reported a stable performance in 2012 (2011) despite a challenging market environment. Turnover in 2012 amounted to 970 M€ (968 M€) and EBITDA was 125 M€ (134 M€). Free cash flow was very strong at 83 M€ (-9 M€). Net gearing improved to 78% (82%). EBIT was lower compared to 2011 due to an extra write down of the book value of Bore’s fleet of 20 M€ .

"In the light of the challenging operating environment our financial performance was satisfactory. Our free cash flow of 83 M€ was strong enabling us to reduce debt, says Hans Sohlström, President and CEO.  

Key figures  

INCOME STATEMENT Actual Actual
(in MEUR) 2012 2011
     
Turnover 970 968
Change in % to previous year 0,2 % 5,4 %
Variable Expenses -661 -647
Sales Margin 310 321
Sales Margin % 31,9 % 33,1 %
Operating Expenses -193 -198
Operating Expenses % -19,8 % -20,5 %
Other Income/Expenses 8 12
EBITDA 125 134
EBITDA % 12,9 % 13,9 %
EBIT 24 52

Future outlook  

"Due to economic uncertainty and low growth inEuropeour operating environment remains challenging. Thanks to our continuous focus on free cash flow and cost efficiency improvement we expect a stable financial performance and further reduced debt in 2013", says Hans Sohlström.  

Please find Rettig Groups annual reports available at www.rettig.fi.  

Rettig Group will arrange a Finnish-language press conference at Rettig Group headquarters (Bulevardi 46,Helsinki) today at 11.00 am Finnish time.  

For further information:   Hans Sohlström, President and CEO, tel. +358 400 547 717 or hans.sohlstrom@rettig.fi

More news