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.
|Change in % to previous year||0,2 %||5,4 %|
|Sales Margin %||31,9 %||33,1 %|
|Operating Expenses %||-19,8 %||-20,5 %|
|EBITDA %||12,9 %||13,9 %|
"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 email@example.com