Financial Statements Release January – December 2013
Strong cash flow and improved profitability in challenging market
- Turnover improved by 0.4% to EUR 973.7 million (970.1)
- EBITDA grew by 4.9% to EUR 131.6 million (125.4)
- EBIT improved by 46.1% to EUR 35.8 million (24.5)
- Net debt reduced by 11.9% to EUR 288.1 million (326.9)
Hans Sohlström, President and CEO of Rettig Group
“Thanks to focus on profitability improvement our EBITDA grew by 5% to EUR 132 million despite
challenging market conditions and unchanged turnover. Our strong free cash flow of EUR 107
million enabled us to further reduce debt by EUR 39 million achieving a year end net gearing of
70%. While the result development was in line with our objectives for the year, our profitability
remained on an unsatisfactory level below our long-term target.”
Outlook for 2014
The business environment will remain challenging in 2014 as economic growth in Europe is
forecasted to be low. Continuous focus on strategy implementation means further efforts to
improve our profitability and strengthen our balance sheet to enable profitable growth.
Read complete Financial Statements Release January – December 2013.
For further information please visit www.rettig.fi or contact:
Josefina Tallqvist, Investor Relations Manager
Mobile: +358 40 7455276
Rettig Group is a Finnish family business that creates value for generations through sustainable
and long-term growth. In all our businesses we focus on leading market positions and more
customer value with less environmental impact. Rettig Group owns Rettig ICC – Europe's leading
supplier of heat emitters and indoor climate comfort; Nordkalk – northern Europe’s leading supplier of limestone-based products for industry, agriculture and environmental care; and Bore – the industrial shipping service provider. In 2013, Rettig Group’s turnover was EUR 974 million and the group had about 4300 employees in 25 countries.