FORTACO AS AN INVESTMENT
TOGETHER WE SHAPE YOUR INDUSTRY.
Fortaco’s diversified industry exposure provides protection from cyclicality.
BUSINESS REVIEW JANUARY – MARCH 2025
The year 2025 began as expected in a challenging market environment, but despite the challenging start of the year, some of Fortaco’s customer segments are showing positive signs of market activation. Capacity allocations for the latter half of the year have already been made. The market situation appears favourable particularly in the mining and defence industries.
We continue our strong efforts to improve the profitability of our core business. Fortaco’s business and margin improvement programme, Fortaco 25, is proceeding as planned. The programme has already had positive cash flow impacts during the first months of the year, and we are satisfied with its progress.
During the review period, Fortaco implemented its strategy by presenting a new SmartCabin product at the Bauma fair in Germany. The new cabin, designed by Fortaco, can be used in different vehicles and is targeted to customers who want to make use of pre-designed high-quality cabin technology.
After the review period in April, we carried out a written procedure regarding certain changes to the terms and conditions of Fortaco’s bonds. In connection with the written procedure, the company’s sole shareholder has made a EUR 20 million equity investment in the company, which together with the other changes to the terms and conditions of the bonds significantly strengthens the Group’s balance sheet and liquidity.
We also sold our subsidiary in Serbia. The sale of Business Site Gruza was the final step in the strategic evaluation of our marine, energy, and heavy project businesses, which has thereby been completed.
Despite the challenging market environment, my first quarter as the CEO of Fortaco has been rewarding, and I want to thank our customers and owner for their trust.
Mika Mahlberg
President & CEO
Key Figures 2024
Net sales
EBITDA ¹)
Net sales excluding divested businesses
EBITDA ¹) excluding divested businesses
Personnel ²)
LTIF ³)
1) EBITDA excluding non-recurring items
2) Including rental people
3) Number of injuries per million working hours
FORTACO IS THE LEADING STRATEGIC PARTNER TO THE HEAVY OFF-HIGHWAY EQUIPMENT AND MARINE INDUSTRIES
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