Earnings per share for the financial year were EUR 1.80. The return on investment exceeded the strategic target and was 25.8 per cent. The consolidated balance sheet is healthy and the net debt/equity ratio (gearing) was -36.1 per cent. The order stock increased to EUR 452.1 million at the end of the year. The Board of Directors proposes to the Annual General Meeting that a dividend of EUR 1.30 per share be paid.
Consolidated earnings and balance sheet
The world economic cycle was mostly in a good phase during 2005. Only a few Western European countries experienced slack economic growth. Economic prospects for 2006 are also mostly favourable.
The upturn in the world economy also had a favourable impact on the Jaakko Pöyry Group's clients and their investment activity, with the exception of the forest industry's investments, which have remained low in the first years of the 21st century. Consolidated net sales grew to EUR 523.6 million (473.9 million in the previous year). Boosted by increased demand and the strengthening of the Group's market position, earnings from operations improved during the year under review.
Profit before taxes was EUR 38.6 (30.9) million. The profit for the year was EUR 26.3 (20.9) million, of which EUR 25.9 (19.7) million was attributable to the equity holders of the parent company. Earnings per share improved by 26.8 per cent during the year to EUR 1.80 (1.42).
The target for the Group's return on investment is 20 per cent; in 2005 the return on investment was 25.8 (21.4) per cent.
The consolidated balance sheet is healthy. The equity ratio is 49.8 (51.2) per cent. The Group's liquidity is good. The net debt/equity ratio (gearing) was -36.1 (-37.4) per cent.
Prospects
The Jaakko Pöyry Group has a strong market position in all of its business areas. The order stock has grown during 2005 and the balance sheet position has remained good. Consolidated net sales will grow during 2006. Consolidated earnings before taxes are expected to improve in 2006.
The auditor's report is dated February 2, 2006.
Dividend
The Board of Directors of Jaakko Pöyry Group Oyj proposes to the Annual General Meeting on March 7, 2006 that a dividend of EUR 1.30 (1.20) per share be paid for the year 2005. The dividend will be payable on March 17, 2006.
Annual General Meeting
Jaakko Pöyry Group Oyj's Annual General Meeting of Shareholders will be held on March 7, 2006 at the Pöyry House, Vantaa, Finland. A complete invitation to the Annual General Meeting will be published as a separate notice on February 3, 2006 at 9.00 a.m. Finnish time.
Enclosures
Board of Directors' report January 1 - December 31, 2005
Consolidated statement of income and balance sheet, statement of changes in financial position, change in equity and contingent liabilities
Key figures for the Group
JAAKKO PÖYRY GROUP OYJ
Erkki Pehu-Lehtonen Teuvo Salminen
President and CEO Deputy to President and CEO
The full report including tables can be downloaded from the following link:
