Press release
February 11, 2010

Recession decreased Onninen’s turnover and result

Markets nearly in all countries where Onninen operates, as well as nearly in all customer segments and product areas slowed down remarkably during 2009. Economic crisis and collapse of construction market was seen during the whole year. Especially in Onninen’s growth areas Russia and Baltic countries recession affected heavily in results. As a result, Onninen’s turnover decreased 23.6%. With comparable exchange rates turnover decreased 20.6%. Turnover was EUR 1,335.6 million. 

Result before amortization of goodwill (EBITA) totaled EUR -6.6 million. Results deteriorated in nearly all countries compared to previous year.

Read Results release 2009

Further information:
President and CEO Harri Sivula , tel. +358 (0)50 65 692
Chief Financial Officer Heikki Ala-Ilkka, tel. +358 (0)40 521 5005

The 2009 financial statements bulletin is available in Finnish on www.onninen.fi 

ABOUT ONNINEN:
Onninen provides comprehensive materials services to contractors, industry, public organisations and technical product retailers.  We are a family-owned company and have operated in the industry since 1913. We have 3,000 employees in our Finnish, Swedish, Norwegian, Polish, Russian, Baltic and Kazakh operations. Our net sales for 2009 totalled EUR 1.34 billion.