Plc Uutechnic Group Oyj Review of Financial Statements,
Plc Uutechnic Group Oyj Review of Financial Statements 1 January –
This is a summary of Plc Uutechnic Group Oyj’s Financial Statements release
YEAR 2020 IN BRIEF
UTG Mixing Group’s turnover from continuing operations from the period 1.1.-
July-December in brief
The turnover from continuing operations from July – December was
1-12 2020 12 months | 1-12 2019 12 months | 7-12 2020 6months | 7-12 2019 6 months | 1-6 2020 6 months | 1-6 2019 6 months | |
Turnover | 16 954 | 16 849 | 8 875 | 9 043 | 8 079 | 7 806 |
Operating profit/loss | -288 | 881 | -694 | 840 | 406 | 41 |
Operation profit/loss % | -2 % | 5 % | -8 % | 9 % | 5,0 % | 0,5 % |
Order backlog at the end of the period | 7 438 | 6 214 | 7 438 | 6 214 | 7 197 | 8 529 |
Orders received | 18 140 | 16 273 | 9 156 | 6 658 | 8 984 | 9 615 |
The figures are in thousand euros
Business 2020
Net sales for the financial year were higher than in the previous year, but operating profit was weaker. In the second half of the year, non-recurring items of
The pandemic did not significantly hamper the operations of the Group companies. Production has been in operation and remote work has gone well in terms of basic functions. The challenge has been a reduced delivery reliability of suppliers, but with a flexible organization, our delivery times to customers have been in a reasonably good level. Travel restrictions have further hampered planned new customer acquisition as well as internal development projects. Pandemic preparedness continues.
In connection with the brand reform, the updating of the new website has continued, and the digital marketing environment was introduced. After the financial year and the change of the ownership, the decision to implement the information system project has been cancelled. Therefore, in the financial statements 2020, the information system investment,
Outlook
Despite the slowdown in the global economy, there will be no clear decline in the mixer market in the near future. Based on the steady order acquisition and good order backlog so far, the outlook for the near future is moderately good.
The outlook for the mixer market remains uncertain due to the impact of the corona pandemic. However, in the medium term, the growth of the mixer market is not expected to reach previous long-term forecasts, as uncertainty and labour challenges caused by pandemic will delay large industrial investments. Also increasing market share in the new operating environment is challenging, and the effectiveness of new sales and marketing methods cannot yet be assessed.
A Public cash tender offer for all shares in
On
At the same time, SPX Flow announced the creation of a redemption right and obligation pursuant to Chapter 18, Section 1 of the Companies Act. and that it will initiate arbitration proceedings under the Companies Act as soon as possible for the redemption of all shares issued by UTG and outstanding held by the remaining minority shareholders. According to the offer document, SPX Flow will also ensure that UTG applies for the delisting of its shares from the
Issues related to Japrotek in the merger agreement:
In relation to UTG’s minority ownership in Japrotek Oy Ab, UTG together with certain other parties, has agreed on an arrangement which is conditional on the Offeror declaring that the Offer Conditions of the Tender Offer have been satisfied or waived and which will be completed in connection with the completion of the Tender Offer, comprising (a) the disposal by UTG of all shares in Japrotek owned by UTG, constituting in total approximately 19% of all issued and outstanding shares in Japrotek, and the receivables under certain capital loans granted by UTG to Japrotek, (b) the release by
THE BOARD’S PROPOSAL FOR THE DISTRIBUTION OF DIVIDEND
The parent company's loss for the financial year was MEUR 0,9 euros. The Group's parent company's distributable funds at the end of the financial year were
ANNUAL GENERAL MEETING
The Annual General Meeting of
In Uusikaupunki
Board of Directors
Further information:
www.utgmix.com
Our main customer sectors are the biochemicals & pharmaceutics, chemicals & polymers, food & beverage, green energy, minerals & metals, pulp & paper, wastewater treatment and fertilizers.
The parent company of
Attachment
- UTG_Review of Financial Statements
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