Uponor’s good progress in the third quarter offsets the shortfall in the second quarter
In the third quarter, Uponor’s net sales reached €317.5 million, up 11.8%. Uponor’s comparable operating profit in the quarter came to €40.4 million, representing a change of 38.9% year-over-year.
“I am pleased to report positive progress in all segments, both in Europe and North America. As anticipated, Building Solutions – North America has recovered from the temporary production issue experienced in the second quarter, and deliveries to customers are running reliably. We have broken several monthly production records lately and target new records as the two manufacturing expansions announced in 2017 take effect in 2018,” says Uponor’s President and CEO, Jyri Luomakoski.
He also commented development in the other segments:
“Building Solutions – Europe reports positive net sales development in several national markets and the benefits from the transformation programme initiated in the fourth quarter of 2015 are kicking in fully, supporting profitability development. To achieve stronger growth throughout the geographies, the segment has redirected its resources to improving Uponor’s value proposition in strategic focus areas and in key customer segments. Further, Uponor Infra is now reporting favourable net sales development and the year-to-date comparable operating profit exceeds that of the prior year.”
“Looking beyond just one quarter’s figures, and combining the second and third quarter together, our year-over-year net sales growth slightly exceeded 7%, following the trend witnessed in the first quarter, and is well in line with our long-term targets.”
The comprehensive financial statements bulletin is available on the company’s investor website.