Uponor continues its solid performance, despite sizable investments for the future
In 2017, Uponor’s net sales reached €1,170.4 million, up 6.5% in the organic terms. Uponor’s comparable operating profit in 2017 came to €97.2m million, representing a change of 7.2% year-over-year.
“In 2017, we saw positive progress throughout the Group, with net sales and profitability growing in all segments. Meanwhile, we have continued to execute a challenging but rewarding R&D programme with our investment into forward-looking technology once again rising to historically high figures,” says Uponor’s President and CEO, Jyri Luomakoski.
He also commented development in our joint venture Phyn and the company’s other segments:
“After a 21-month journey alongside our technology partner Belkin, our joint venture Phyn presented its first product in the U.S. market in January 2018. This unique product, with its specialised professional route to market, represents another major step into the digital smart water technology market.”
“Building Solutions – Europe reported a solid improvement in comparable operating profit for the full-year, with net sales modestly rising. While we were able to report positive progress in several countries, including Eastern Europe, Russia and Spain, we lagged behind our aspirations in some key markets such as Germany. Strategically, we are placing the focus on developing new hygienic solutions and prefab technology which will offer compelling value to professional sectors on the market.”
“Building Solutions – North America is actively building up its manufacturing capacity. Construction work in Apple Valley has been completed and new personnel have been trained. Also the investment in Hutchinson is progressing well towards completion in the summer of 2018. Both of these impacted our profitability in Q4 and will also impact in the first half of 2018. Overall, the segment’s product supply is running smoothly and we have returned to a committed lead time promise in customer orders”
“Uponor Infra reported a brisk improvement in performance, driven by cyclical improvement in demand in North America. The performance in Europe, where markets for the most part were flat or growing modestly, did not meet acceptable levels in 2017.”
The comprehensive financial statements bulletin is available on the company’s investor website.