Nurminen’s operating result turns positive in H1

Nurminen Logistics produced net sales of €33.1m in the six months ended June 30, 2017. This represented a 42.7% increase year-on-year, or 38.1% on a comparable basis. Its operating profit was back in the black at €1,147m, against a €1,277m loss in H1 of 2016 .

Marko Tuunainen, President and CEO of Nurminen Logistics, said “The company’s financial position improved markedly due to the capital arrangements begun at the end of the review period as well as the increase in operating result. Finnish export and import industries experienced growth during the review period, and this has positively impacted demand for the company’s services in Finland. We were able to improve the net sales and operating result of nearly all our services.”

The net sales of forwarding services grew by 4.5% compared to the corresponding period in 2016. Net sales were increased by continued strong demand of import, export and value added services.

Net sales of terminal services grew by 9% and profitability also improved, as a result of increases in the volumes of goods exported and the usage rates of terminals. Demand for Russian transit and export traffic services also increased. 

Demand for Finnish railway logistics services fell, with net sales decreasing 13% from the previous year’s comparison period. The profitability of railway logistics in Finland also declined due to lower demand.

Demand for services in its Russian domestic railway subsidiary remained stable. Loading volumes were at the same level as in the previous year’s corresponding period, and the usage rate of the company’s wagons remained high. 

Demand for the services of the company’s Baltic subsidiaries during the first half year was improved from the previous year, due to development of the company’s clientèle and the strong market environment in the Baltic countries. 

Source: Nurminen Logistics Oy