Logset reports growth in 2014
Feb. 17, 2015 – Logset announced that the company reported solid growth of its operation in 2014.
Logset’s turnover has grown up to 28.7 million Euros (m€), or just over $40.6 million Cdn., as compared to 23.4 m€ in 2013, which indicates overall growth of 23 per cent. The operating profit was 0.9 m€ versus -0.1 m€ in 2013. New machine sales grew substantially in 2014, up 33 per cent over 2013. The equity ratio rose to 19.8 per cent, up from the previous year’s 6.7 per cent.
The beginning of last year was tough and only in spring the number of sales and deliveries started to grow monthly. Research and development has been very active. Within a year, Logset has brought to the market a new harvester range, a heavy-duty harvester head TH85, a sheer head SH38 for the bioenergy sector and a simulator. As a result, the company’s product range is now completely renewed. In the beginning of 2015, new engines that correspond latest environmental requirements will be delivered to production.
By the end of 2014, 70 employees have been working in the company, on average 66 (66 and 62 in 2013).
The most promising countries for Logset are, at the moment, Central European countries and Brazil. Particular good development has been in the sales of harvester heads, where Logset TH- range has proven to be a strong choice in various operating environment.
Logset’s order stock has improved in the beginning of the year, compared to the previous year. The company is expected to grow and become more profitable. However current situation with the sanction in Russia creates uncertainty on one of our important market areas.
The recruitment process for company’s Managing Director has come to the final stage and the name of the new Managing Director can be informed within the next few days.