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Etusivu » Tiedotteet » Talous » Oras Invest celebrated its 70th anniversary in 2015 – STABILITY ACHIEVED THROUGH LONG-TERM DEVELOPMENT
Oras Invest celebrated its 70th anniversary in 2015 – STABILITY ACHIEVED THROUGH LONG-TERM DEVELOPMENT
Published: 15-Apr-2016 10:00 am
Publisher: Oras Invest
There were no changes to the holdings of Oras Invest Ltd in 2015: Oras Group 100%, Uponor 23%, Kemira 18% and Tikkurila 18%. Having reached the age of 70, the family-owned company and industrial owner continued the systematic development of its companies towards sustainable and profitable growth. In 2015, the long-term commitment of Oras Invest to the strategies of its companies was reflected in positive performances from all companies in very challenging conditions. The combined net sales of the companies increased to EUR 4.3 billion, and the companies employed nearly 13,000 people in 40 countries.
The Net Asset Value of Oras Invest grew to EUR 795 million (EUR 732 million). Total Shareholder Return took a positive turn to 9% (-6%).
The Group's equity-to-assets ratio improved to 85% (81%), while its gearing reduced to 18% (23%).
CEO Jari Paasikivi: “The uncertainty in many of our principal markets did not reduce in 2015. The full impact of the bad news on a global scale is not yet known. Our industries, building and water, are in the middle of a global transformation. The importance of the active and long-term development of our companies through their Boards, in close cooperation with management, is emphasised in these circumstances. We are constantly developing strategies for transforming challenges into new opportunities."
Oras Group’s two strong brands, Oras and Hansa, succeeded in retaining their strong market positions in their most important home markets, Finland and Germany, even though the company’s net sales and operating profit shrank slightly.
Uponor improved both its net sales and operating profit in spite of major seasonal fluctuations in the availability and pricing of raw materials, and sales. A major transformation programme was initiated in Europe to ensure profitable growth and cost-efficiency. Growth in North America continued for the fifth consecutive year.
Kemira improved its net sales and operating profit. The acquisition of AkzoNobel's paper chemicals business contributed to the growth, and the integration of the company went according to plan.
Tikkurila experienced the weakening of the Russian rouble as diminished net sales, but the company's profitability remained at a good level. The company's performance in Western markets improved, and it increased its market shares for example in Poland and Sweden.
“We encourage our companies to invest in R&D and innovations. All Oras Group companies are forerunners in industrial applications and product features and must retain this position, always keeping one step ahead of the competition. Investing in competence builds a solid foundation for growth, also in challenging circumstances. Last year, we celebrated our 70th anniversary as a family-owned business. Each step along that path has increased our knowledge and competence, equipping us to meet future challenges. We have been able to maintain a long-term perspective and produce significant value for society through steady growth,” Jari Paasikivi says.
On 14 April 2016, Robin Lawther joined the Board of Directors of Oras Invest.