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nurminen logistics plc-a (NLG1V) Details

Nurminen Logistics Plc provides and produces logistics services primarily in Finland, Russia, the Baltic Sea region, and other Eastern European countries. The company delivers normal export and import transports, as well as provides project and special transport services for rail traffic between Finland, Russia, and other CIS countries. It also offers tailored services for special and heavy transport; terminal services; tailored customs clearance services for import and export trade; and project services, including freight forwarding, documentation, and warehousing. Nurminen Logistics Plc is headquartered in Helsinki, Finland.

242 Employees
Last Reported Date: 08/7/14

nurminen logistics plc-a (NLG1V) Top Compensated Officers

Chief Executive Officer, President, Member of...
Total Annual Compensation: €23.7K
Compensation as of Fiscal Year 2013.

nurminen logistics plc-a (NLG1V) Key Developments

Nurminen Logistics Oyj Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Nurminen Logistics Oyj reported consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, net sales were EUR 14,142,000 compared to EUR 15,989,000 a year ago. Operating loss was EUR 372,000 compared to EUR 1,993,000 a year ago. Loss before tax was EUR 692,000 against EUR 1,016,000 a year ago. Loss for the period was EUR 821,000 against EUR 894,000 a year ago. Loss attributable to equity holders of the parent was EUR 1,000,000 against EUR 951,000 a year ago. Diluted loss per share was EUR 0.08 against EUR 0.08 a year ago. The operating result for the second quarter was impaired by unrealised exchange rate losses resulting from the strengthening of the Russian rouble. For the six months, net sales were EUR 28,256,000 compared to EUR 32,698,000 a year ago. Operating loss was EUR 349,000 compared to operating result of EUR 216,000 a year ago. Loss before tax was EUR 1,390,000 against EUR 3,048,000 a year ago. Loss for the period was EUR 1,612,000 against EUR 3,947,000 a year ago. Loss attributable to equity holders of the parent was EUR 1,831,000 against EUR 4,149,000 a year ago. Diluted loss per share was EUR 0.14 against EUR 0.32 a year ago. Cash flows used in operating activities was EUR 2,178,000 against cash flows from operating activities of EUR 3,858,000 a year ago. Investments in property, plant and equipment and intangible assets was EUR 318,000 against EUR 212,000 a year ago. The Group's interest-bearing debt totalled EUR 23.8 million, while net interest-bearing debt amounted to EUR 22.5 million. The Group's gross capital expenditure during the review period amounted to EUR 322,000 against EUR 205,000 a year ago.

Nurminen Logistics Provides Earnings Guidance for 2014

Nurminen Logistics provides earnings guidance for 2014. The company expects that both its operating result and earnings per share will improve compared to 2013, but that its net sales will fall short of the level of 2013 due to the decline in volumes in rail transport between Finland and Russia resulting from the crisis in Ukraine and the sanctions imposed on Russia. In its previous estimate, the company expected its net sales, operating result and earnings per share to improve compared to 2013. The company continues to improve the efficiency of its operations due to the changing market situation. The company’s long-term goal is to grow at a faster rate than the market, on average by over 15% per year. Going forward, over 50% of net sales will come from the growth markets of Russia and its neigh bouring countries. The company’s further long-term goals are to improve profitability, achieve an operating profit level of 10% and return on equity of 20%.

Nurminen Logistics Plc Appoints Ari Viinikkala as Chief Financial Officer and Member of the Executive Board

Ari Viinikkala, M.Sc. (Econ), aged 46, has been appointed the new Chief Financial Officer (CFO) and member of the Executive Board of Nurminen Logistics Plc. He will report to Olli Pohjanvirta, President and CEO. Viinikkala will start in Nurminen Logistics on 1 August 2014 and in his new position as CFO on 15 August 2014 when Paula Kupiainen leaves her position. Before joining Nurminen Logistics, Ari Viinikkala has acted as the CEO and CFO of the Vaahto Group Plc Oyj, had several financial management positions within KONE Corporation in Finland and abroad and served as CFO of the Dynea Europe.


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