Nurminen Logistics Oyj Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2013; Provides Earnings Guidance for the Year 2013
August 01, 2013
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Nurminen Logistics Oyj reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2013. For the six months, the company reported net sales of EUR 32,698,000 compared to net sales of EUR 39,537,000 for the same period a year ago. Operating profit was EUR 1,454,000 compared to EUR 2,703,000 last year. Loss before tax was EUR 197,000 compared to profit before tax of EUR 1,999,000 last year. Loss was EUR 802,000 compared to profit of EUR 1,319,000 last year. Loss attributable to equity holders of the parent company was EUR 1,101,000 or EUR 0.08 per undiluted and diluted share compared to profit attributable to equity holders of the parent company of EUR 91,000 or EUR 0.05 per undiluted and diluted share last year. Cash flow from operating activities was EUR 3,858,000 compared to EUR 3,283,000 last year. Investments in property, plant and equipment and intangible assets were EUR 212,000 compared to EUR 273,000 last year. Group's gross capital expenditure during the review period amounted to EUR 205,000 compared to 273,000, accounting for 0.6% of net sales. Operating result excluding non-recurring items was EUR 1.7 million compared to EUR 2.6 million last year. Net cash flow was EUR 2.3 million compared to EUR 1.0 million last year.
For the quarter, the company reported net sales of EUR 15,989,000 compared to net sales of EUR 20,410,000 for the same period a year ago. Operating profit was EUR 1,621,000 compared to EUR 1,528,000 last year. Profit before tax was EUR 323,000 compared to profit before tax of EUR 790,000 last year. Profit was EUR 73,000 compared to profit of EUR 426,000 last year. Loss attributable to equity holders of the parent company was EUR 49,000 compared to loss attributable to equity holders of the parent company of EUR 411,000 or EUR 0.03 per undiluted and diluted share last year. Operating results excluding non-recurring items was EUR 1.6 million compared to EUR 1.5 million last year. Net cash flow was EUR 2.4 million compared to EUR 0.4 million last year.
Due to the continuing challenging market situation, the company expects its net sales and operating result to be lower than in 2012. In its previous projection, the company predicted that its net sales and operating result would be slightly lower than in 2012.
Nurminen Logistics Oyj is a Finland-based company engaged in the provision of logistics services. The Company specializes in: railway transports; terminal services, such as storage, loading and lashing; forwarding, which offers documentation services related to transports and international trade; as well as special transport and project services, including route planning, and storage in the Heavy Transport Terminal at the Vuosaari harbor, among others. Its activities are divided into four business segments: Railway Logistics, Special Transport and Project, Transit Logistics, as well as Forwarding and Value Added Services. The Company operates primarily in Finland, the Baltic Sea region and the Russian Federation. It provides services to a number of entities, such as Metsa Board, Outotec, Sappi and Haesaerts Intermodal. Furthermore, the Company is a parent of RW Logistics Oy, OOO John Nurminen (Pietari), Nurminen Maritime Eesti AS, Zao Ir-Trans, and UAB Nurminen Maritime, among others.
Nurminen Logistics Oyj Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2013; Provides Earnings Guidance for the Year 2013