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PRESIDENT AND CEO JUHO NUMMELA:
Despite the uncertainties in the world's economy, the demand for PONSSE forest machines continued to be brisk during the last quarter, and the company's order intake was very good. Our order books were very strong at the end of the period under review, totalling EUR 361.1 million. With the improving availability of components, manufacturing volumes at our Vieremä factory have been growing continuously. The challenges in starting the serial production of new products during the first quarter of the year have been quickly resolved.
The extensive damage caused by bark beetle in Europe is having an impact on the timber market. Felling related to preventing and mitigating forest damage is temporarily increasing the amount of harvested timber in Europe, which also has a short-term effect on international timber flows.
In the second quarter of the year, the company's net sales were EUR 172.7 (149.0) million. The deliveries of new PONSSE forest machines were achieved as planned by the end of the second quarter. The Service businesses' net sales continued to grow, and the market for trade-in machines also functioned well. There was good growth in the net sales of trade-in machines from the comparison period. International business operations accounted for 79.7 (78.4) per cent of net sales.
Profit for the second quarter amounted to EUR 17.5 (12.4) million. The operating result for the second quarter was 10.2 (8.3) percent. Strong invoicing combined with cost control had a positive impact on profitability. Cash flow during the period under review was EUR 2.7 (20.1) million, which was at a normal level considering the period.
The Vieremä factory and the manufacturing network surrounding Ponsse are working well. There are still some risks related to the availability of components, but the situation is constantly improving. Factory maintenance work during the summer was successful, and the operations of the factory started normally at the beginning of August.
NET SALES
Consolidated net sales for the period under review amounted to EUR 315.8 (291.1) million, which is 8.5 per cent more than in the comparison period. International business operations accounted for 79.7 (78.4) per cent of net sales.
Net sales were regionally distributed as follows: Northern Europe 37.7 (38.1) per cent, Central and Southern Europe 21.1 (21.5) per cent, Russia and Asia 16.3 (21.0) per cent, North and South America 24.5 (18.5) per cent and other countries 0.4 (0.8) per cent.
PROFIT PERFORMANCE
The operating result amounted to EUR 30.4 (29.5) million. The operating result equalled 9.6 (10.1) per cent of net sales for the period under review. Consolidated return on capital employed (ROCE) stood at 22.6 (21.6) per cent.
Staff costs for the period totalled EUR 48.0 (43.4) million. Other operating expenses stood at EUR 29.1 (26.7) million. The net total of financial income and expenses amounted to EUR -0.3 (-3.9) million. Exchange rate gains and losses with a net effect of EUR 0.6 (-3.3) million were recognised under financial items for the period. Result for the period under review totalled EUR 23.2 (19.1) million. Diluted and undiluted earnings per share (EPS) came to EUR 0.83 (0.68).
STATEMENT OF FINANCIAL POSITION AND FINANCING ACTIVITIES
At the end of the period under review, the total consolidated statements of financial position amounted to EUR 403.0 (353.1) million. Inventories stood at EUR 157.1 (139.7) million. Trade receivables totalled EUR 53.0 (40.0) million, while liquid assets stood at EUR 24.2 (28.0) million. Group shareholders' equity stood at EUR 202.2 (174.6) million and parent company shareholders' equity (FAS) at EUR 187.8 (165.7) million. The amount of interest-bearing liabilities was EUR 77.6 (68.8) million. The company has used 20 per cent of its credit facility limit. The parent company's net receivables from other Group companies stood at EUR 106.4 (90.5) million. The parent company's receivables from subsidiaries mainly consisted of trade receivables. Consolidated net liabilities totalled EUR 53.3 (40.7) million, and the debt-equity ratio (net gearing) was 26.3 (23.3) per cent. The equity ratio stood at 51.3 (51.1) percent at the end of the period under review.
Cash flow from operating activities amounted to EUR 2.7 (20.1) million. Cash flow from investment activities came to EUR -11.5 (-15.1) million.
ORDER INTAKE AND ORDER BOOKS
Order intake for the period totalled EUR 391.6 (355.7) million, while period-end order books were valued at EUR 361.1 (187.0) million.
DISTRIBUTION NETWORK
The subsidiaries included in the Ponsse Group are Ponsse AB, Sweden; Ponsse AS, Norway; Ponssé S.A.S., France; Ponsse UK Ltd, the United Kingdom; Ponsse Machines Ireland Ltd, Ireland, Ponsse North America, Inc., the United States; Ponsse Latin America Ltda, Brazil; Ponsse Uruguay S.A., Uruguay; OOO Ponsse, Russia; Ponsse Asia-Pacific Ltd, Hong Kong; Ponsse China Ltd, China and Epec Oy, Finland. The Group includes also the property company Ponsse Centre, Russia. Sunit Oy, Finland, is an associate in which Ponsse Plc has a holding of 34 per cent.
R&D AND CAPITAL EXPENDITURE
Group's R&D expenses during the period under review totalled EUR 9.6 (8.4) million, of which EUR 3.1 (2.5) million was capitalised.
Capital expenditure totalled EUR 11.7 (15.3) million. It consisted in addition to capitalised R&D expenses of investments in buildings and ordinary maintenance and replacement investments for machinery and equipment.
MANAGEMENT
The following persons were members of the Management Team: Juho Nummela, President and CEO, acting as the chairman; Petri Härkönen, CFO; Juha Inberg, Technology and R&D Director; Tapio Mertanen, Service Director; Paula Oksman, HR Director; Tommi Väänänen, Director of Delivery Chain Process and Jarmo Vidgrén, Deputy CEO, Sales and Marketing Director. The company management has regular management liability insurance.
The area director organisation of sales is led by Jarmo Vidgrén, the Group's sales and marketing director, and Tapio Mertanen, service director. Area directors report to Marko Mattila, Ponsse retail network manager. Managing directors of subsidiaries and Marko Mattila report to Jarmo Vidgrén, Ponsse Plc's sales and marketing director.
The geographical distribution and the responsible persons are presented below:
Northern Europe:
Jani Liukkonen (Finland),
Carl-Henrik Hammar (Sweden and Denmark),
Tarmo Saks (the Baltic countries) and
Sigurd Skotte (Norway).
Central and Southern Europe:
Tuomo Moilanen (Germany and Austria),
Clément Puybaret (France),
Janne Tarvainen (Spain and Portugal),
Dean Robson (the United Kingdom),
Patrick Murphy (Ireland) starting from 24 April 2019,
Gary Glendinning (Ireland until 23 April 2019, Hungary, Romania, Slovenia, Croatia and Serbia) and
Tarmo Saks (Poland, Czech Republic and Slovakia).
Russia and Asia:
Jaakko Laurila (Russia and Belarus),
Janne Tarvainen (Australia and South Africa) and
Risto Kääriäinen (China and Japan).
North and South America:
Pekka Ruuskanen (the United States),
Eero Lukkarinen (Canada),
Fernando Campos (Brazil) and
Martin Toledo (Uruguay, Chile and Argentina).
PERSONNEL
The Group had an average staff of 1,755 (1,601) during the period and employed 1,808 (1,664) people at period-end.
SHARE PERFORMANCE
The company's registered share capital consists of 28,000,000 shares. The trading volume of Ponsse Plc shares for 1 January - 30 June 2019 totalled 700,022, accounting for 2.5 per cent of the total number of shares. Share turnover amounted to EUR 20.1 million, with the period's lowest and highest share prices amounting to EUR 24.80 and EUR 31.80, respectively.
At the end of the period, shares closed at EUR 31.80, and market capitalisation totalled EUR 890.4 million.
At the end of the period under review, the company held no treasury shares.
ANNUAL GENERAL MEETING
A separate release was issued on 3 April 2019 regarding the authorizations given to the Board of Directors and other resolutions at the AGM.
GOVERNANCE
In its decision-making and administration, the company observes the Finnish Limited Liability Companies Act, other regulations governing publicly listed companies and the company's Articles of Association. The company's Board of Directors has adopted the Code of Governance that complies with the Finnish Corporate Governance Code approved by the Board of the Securities Market Association in 2015. The purpose of the code is to ensure that the company is professionally managed and that its business principles and practices are of a high ethical and professional standard.
The Code of Governance is available on Ponsse's website in the Investors section.
RISK MANAGEMENT
Risk management is based on the company's values, as well as strategic and financial objectives. Risk management aims to support the achievement of the objectives specified in the company's strategy, as well as to ensure the financial development of the company and the continuity of its business.
Furthermore, risk management aims to identify, assess and monitor business-related risks which may influence the achievement of the company's strategic and financial goals or the continuity of its business. Decisions on the necessary measures to anticipate risks and react to observed risks are made on the basis of this information.
Risk management is a part of regular daily business, and it is also included in the management system. Risk management is controlled by the risk management policy approved by the Board.
A risk is any event that may prevent the company from reaching its objectives or that threatens the continuity of business. On the other hand, a risk may also be a positive event, in which case the risk is treated as an opportunity. Each risk is assessed on the basis of its impact and probability. Methods of risk management include avoiding, mitigating and transferring risks. Risks can also be managed by controlling and minimising their impact.
SHORT-TERM RISK MANAGEMENT
The insecurity in the world economy may result in a decline in the demand for forest machines. The uncertainty may be increased by the volatility of developing countries' foreign exchange markets. The geopolitical situation, in particular, will increase the uncertainty through financial market operations and sanctions. Changes taking place in the fiscal and customs legislation in countries to which Ponsse exports may hamper the company's export trade or its profitability. The risks in the supplier network may cause problems in material availability.
The parent company monitors the changes in the Group's internal and external trade receivables and the associated risk of impairment.
The key objective of the company's financial risk management policy is to manage liquidity, interest and currency risks. The company ensures its liquidity through credit limit facilities agreed with a number of financial institutions. The effect of adverse changes in interest rates is minimised by utilising credit linked to different reference rates and by concluding interest rate swaps. The effects of currency rate fluctuations are mitigated through derivative contracts.
OUTLOOK FOR THE FUTURE
The Group's euro-denominated operating profit is expected to be slightly higher in 2019 than in 2018.
Ponsse's updated and competitive product range and service solutions have had a significant impact on the company's growth. The market situation has continued to be favourable.
The trend of our investments will increasingly be in R&D and product technology and also developing the service network both in Finland and abroad. In Vieremä factory there will be focused in ramp-up of new products and increasing the capacity taking product quality and reliability into account.

PONSSE GROUP
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (EUR 1,000)

IFRS IFRS IFRS
1-6/19 1-6/18 1-12/18
NET SALES 315,804 291,068 612,435
Increase 28,743 11,738 -1,508
(+)/decrease (-) in
inventories of
finished goods and
work in progress
Other operating 1,240 992 2,768
income
Raw materials and -227,944 -196,671 -395,660
services
Expenditure on -47,962 -43,377 -85,289
employment-related
benefits
Depreciation and -10,400 -7,536 -15,836
amortisation
Other operating -29,088 -26,744 -55,193
expenses
OPERATING RESULT 30,393 29,470 61,717
Share of results of -54 2 -77
associated companies
Financial income and -284 -3,930 -5,317
expenses
RESULT BEFORE TAXES 30,055 25,541 56,324
Income taxes -6,870 -6,404 -12,625
NET RESULT FOR THE 23,185 19,137 43,699
PERIOD

OTHER ITEMS INCLUDED
IN TOTAL
COMPREHENSIVE
RESULT:
Translation 1,026 702 -318
differences related
to foreign units

TOTAL COMPREHENSIVE 24,211 19,839 43,381
RESULT FOR THE
PERIOD

Diluted and 0.83 0.68 1.56
undiluted earnings
per share*

IFRS IFRS
4-6/19 4-6/18
NET SALES 172,719 148,953
Increase 9,434 4,078
(+)/decrease (-) in
inventories of
finished goods and
work in progress
Other operating 698 668
income
Raw materials and -119,347 -100,488
services
Expenditure on -25,910 -23,106
employment-related
benefits
Depreciation and -5,215 -3,784
amortisation
Other operating -14,843 -13,921
expenses
OPERATING RESULT 17,536 12,399
Share of results of -15 -23
associated companies
Financial income and -709 -2,237
expenses
RESULT BEFORE TAXES 16,812 10,139
Income taxes -3,792 -2,697
NET RESULT FOR THE 13,020 7,442
PERIOD

OTHER ITEMS INCLUDED
IN TOTAL
COMPREHENSIVE
RESULT:
Translation -152 1,066
differences related
to foreign units

TOTAL COMPREHENSIVE 12,868 8,508
RESULT FOR THE
PERIOD

Diluted and 0.47 0.27
undiluted earnings
per share*

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (EUR 1,000)

IFRS IFRS IFRS
ASSETS 30 Jun 19 30 Jun 18 31 Dec 18
NON-CURRENT ASSETS
Intangible assets 28,342 24,437 26,298
Goodwill 3,790 3,794 3,800
Property, plant and equipment 112,720 101,573 108,818
Financial assets 98 103 103
Investments in associated companies 491 623 545
Non-current receivables 2,246 814 2,447
Deferred tax assets 4,571 2,949 3,242
TOTAL NON-CURRENT ASSETS 152,258 134,292 145,252

CURRENT ASSETS
Inventories 157,054 139,651 126,628
Trade receivables 53,040 39,987 43,379
Income tax receivables 459 374 1,423
Other current receivables 16,006 10,849 11,275
Cash and cash equivalents 24,229 27,956 51,105
TOTAL CURRENT ASSETS 250,788 218,816 233,811

TOTAL ASSETS 403,046 353,108 379,063

SHAREHOLDERS' EQUITY AND LIABILITIES
SHAREHOLDERS' EQUITY
Share capital 7,000 7,000 7,000
Other reserves 3,462 2,423 3,462
Translation differences 4,053 4,047 3,027
Treasury shares 0 -346 0
Retained earnings 187,674 161,433 186,667
EQUITY OWNED BY PARENT COMPANY SHAREHOLDERS 202,189 174,556 200,155

NON-CURRENT LIABILITIES
Interest-bearing liabilities 47,193 46,693 45,651
Deferred tax liabilities 1,182 504 1,295
Other non-current liabilities 31 117 43
TOTAL NON-CURRENT LIABILITIES 48,405 47,315 46,990

CURRENT LIABILITIES
Interest-bearing liabilities 30,396 22,102 23,920
Provisions 4,900 5,184 5,418
Tax liabilities for the period 2,557 1,464 808
Trade creditors and other current liabilities 114,599 102,488 101,773
TOTAL CURRENT LIABILITIES 152,452 131,237 131,919

TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES 403,046 353,108 379,063

CONSOLIDATED STATEMENT OF CASH FLOWS (EUR 1,000)

IFRS IFRS IFRS
1-6/19 1-6/18 1-12/18
CASH FLOWS FROM OPERATING ACTIVITIES:
Net result for the period 23,185 19,137 43,699
Adjustments:
Financial income and expenses 285 3,929 5,317
Share of the result of associated companies 54 -2 77
Depreciation and amortisation 10,400 7,536 15,836
Income taxes 6,870 6,404 12,625
Other adjustments -589 740 -3,127
Cash flow before changes in working capital 40,204 37,747 74,427

Change in working capital:
Change in trade receivables and other receivables -13,201 1,661 -1,545
Change in inventories -28,838 -18,551 -6,089
Change in trade creditors and other liabilities 11,151 7,888 8,642
Change in provisions for liabilities and charges -518 -585 -351
Interest received 152 94 244
Interest paid -350 -365 -770
Other financial items -475 -1,290 -2,458
Income taxes paid -5,459 -6,493 -12,866
NET CASH FLOWS FROM OPERATING ACTIVITIES (A) 2,666 20,107 59,232

CASH FLOWS USED IN INVESTING ACTIVITIES
Investments in tangible and intangible assets -11,661 -15,271 -32,916
Proceeds from sale of tangible and intangible assets 128 221 675
NET CASH FLOWS USED IN INVESTMENT ACTIVITIES (B) -11,533 -15,050 -32,240

CASH FLOWS FROM FINANCING ACTIVITIES
Acquisition of treasury shares 0 0 -93
Withdrawal/Repayment of current loans 5,298 907 1,845
Repayment of non-current loans 0 -450 -450
Withdrawal/Repayment of finance lease liabilities -1,355 77 33
Change in non-current receivables 547 466 670
Dividends paid -22,400 -20,975 -20,975
NET CASH FLOWS FROM FINANCING ACTIVITIES (C) -17,910 -19,975 -18,970

Change in cash and cash equivalents (A+B+C) -26,777 -14,918 8,022

Cash and cash equivalents on 1 Jan 51,105 42,596 42,596
Impact of exchange rate changes -100 278 488
Cash and cash equivalents on 30 Jun/31 Dec 24,229 27,956 51,105

*) Enabled by the new consolidation programme, the company changed over to presenting the exchange rate effects included in the cash flow statement in a way that allows unrealised exchange rate effects to be eliminated in the cash flow statement more accurately. As a result, previously reported cash flows have been adjusted to allow comparability. The previously reported cash flow from business operations was EUR 23.5 million for the comparative period in 2018 and EUR 61.3 million in the 2018 financial statements. This change had no impact on the presentation of the total cash flow, as it only affected the presentation of the relationship between different cash flows as well as exchange rate effects in terms of the change in cash and cash equivalents.
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (EUR 1,000)

A = Share capital
B = Share premium
and other reserves
C = Translation
differences
D = Treasury shares
E = Retained
earnings
F = Total
shareholders' equity
EQUITY OWNED BY PARENT COMPANY SHAREHOLDERS
A B C D E F
SHAREHOLDERS' EQUITY 7,000 3,462 3,027 0 186,667 200,155
1 JAN 2019
Translation 1,026 1,026
differences
Result for the 23,185 23,185
period
Total comprehensive 1,026 23,185 24,211
income for the
period
Dividend -22,400 -22,400
distribution
Direct entries to 223 223
retained earnings
SHAREHOLDERS' EQUITY 7,000 3,462 4,053 0 187,674 202,189
30 JUN 2019

SHAREHOLDERS' EQUITY 7,000 2,452 -183 -346 167,923 176,846
1 JAN 2018
Adjustment for -29 3,528 -3,525 -26
previous periods *)
SHAREHOLDERS' EQUITY 7,000 2,423 3,345 -346 164,398 176,819
1 JAN 2018
Translation 702 702
differences
Result for the 19,137 19,137
period
Total comprehensive 702 19,137 19,839
income for the
period
Dividend -20,975 -20,975
distribution
Direct entries to -1,127 -1,127
retained earnings
SHAREHOLDERS' EQUITY 7,000 2,423 4,047 -346 161,433 174,556
30 JUN 2018

*) As a result of the new consolidation system, the company is now able to present, from the beginning of the financial year 2018, all exchange rate differences on equity in the translation difference. Exchange differences for previously accrued retained earnings are presented within the profits. The change has no effect on previously reported key figures.

SEGMENT INFORMATION (EUR 1,000)

OPERATING
SEGMENTS
1-6/2019 Northern Central Russia North Total
Europe and and and
Southern Asia South
Europe America
Net sales of the 219,206 67,520 52,007 78,913 417,647
segment
Sales between -99,993 -912 -604 -1,648 -103,157
segments
Unallocated 1,315
sales
NET SALES FROM 119,213 66,608 51,403 77,265 315,804
EXTERNAL
CUSTOMERS

Operating result 6,475 9,821 7,135 9,052 32,484
of the segment
Unallocated -2,091
items
OPERATING RESULT 6,475 9,821 7,135 9,052 30,393

OPERATING
SEGMENTS
1-6/2018 Northern Central Russia North Total
Europe and and and
Southern Asia South
Europe America
Net sales of the 205,487 63,914 61,578 54,583 385,562
segment
Sales between -94,486 -1,215 -454 -714 -96,870
segments
Unallocated 2,376
sales
NET SALES FROM 111,000 62,699 61,124 53,869 291,068
EXTERNAL
CUSTOMERS

Operating result 5,458 8,648 11,498 3,776 29,381
of the segment
Unallocated 89
items
OPERATING RESULT 5,458 8,648 11,498 3,776 29,470
30 30 31
Jun Jun Dec
19 18 18
1. LEASING 1,242 1,265 1,342
COMMITMENTS (EUR
1,000)
2. CONTINGENT 30 30 31
LIABILITIES (EUR Jun Jun Dec
1,000) 19 18 18
Guarantees given 223 1,930 1,459
on behalf of
others
Repurchase 0 0 552
commitments
Responsibility 8,398 4,840 7,839
of checking the
VAT deductions
made on real
property
investments
Other 78 57 87
commitments
TOTAL 8,699 6,827 9,937
3. PROVISIONS Guarantee
(EUR 1,000) provision
1 January 2019 5,418
Provisions added 428
Provisions -946
cancelled
30 June 2019 4,900
4. DIVIDENDS 30 Jun 30 Jun 18
PAID (EUR 1,000) 19
Dividends per 22,400 20,975
share EUR 0.80
(EUR 0.75)
5. PROPERTY, 1-6/19 1-6/18
PLANT AND
EQUIPMENT (EUR
1,000)
Increase 10,905 11,833
Decrease -64 -439
TOTAL 10,841 11,394
6. RELATED PARTY 1-6/19 1-6/18
TRANSACTIONS
Management's
employment
-related
benefits (EUR
1,000)
Salaries and 2,520 2,293
other short-term
employment
-related
benefits
Benefits paid 0 0
upon termination
of employment
Pension 346 345
liabilities,
statutory
pension security
Compensation of 123 118
the members of
the Board of
Directors
KEY FIGURES AND 30 30 Jun 18 31
RATIOS Jun Dec
19 18
R&D expenditure, 9.6 8.4 17.5
MEUR
Capital 11.7 15.3 32.9
expenditure,
MEUR
as % of net 3.7 5.3 5.4
sales
Average number 1,755 1,601 1,635
of employees
Order books, 361.1 187.0 294.9
MEUR
Equity ratio, % 51.3 51.1 54.0
Diluted and 0.83 0.68 1.56
undiluted
earnings per
share (EUR)
Equity per share 7.22 6.23 7.15
(EUR)

FORMULAE FOR FINANCIAL INDICATORS
Return on capital employed, %:
Result before tax + financial expenses
---------------------------------------------------------------------------------------------------------------------
Shareholder's equity + interest-bearing financial liabilities (average during the year) * 100
Average number of employees:
Average of the number of personnel at the end of each month. The calculation has been adjusted for part-time employees.
Net gearing, %:
Interest-bearing financial liabilities - cash and cash equivalents
-----------------------------------------------------------------------------------
Shareholders' equity * 100
Equity ratio, %:
Shareholders' equity + Non-controlling interests
------------------------------------------------------------------------
Balance sheet total - advance payments received * 100
Earnings per share:
Net result for the period - Non-controlling interests
-----------------------------------------------------------------------------------------------------------
Average number of shares during the accounting period, adjusted for share issues
Equity per share:
Shareholders' equity
---------------------------------------------------------------------------------------------
Number of shares on the balance sheet date, adjusted for share issues

ORDER INTAKE (EUR million) 1-6/19 1-6/18 1-12/18
Ponsse Group 391.6 355.7 785.7

The stock exchange release for the interim report has been prepared observing the recognition and valuation principles of IFRS, and the requirements of IAS 34 have been complied with. The same accounting principles were observed for the closing of the books as for the annual financial statements dated 31 December 2018, with the exception of the new standard introduced on 1 January 2019. This standard is IFRS 16, Leases.
As a result of the new IFRS 16 "Leases" standard, the Group recognised non-cancellable leases on the balance sheet. The Group made use of an easement allowed in the standard according to which short-term leases of assets with minor value do not need to be recognised on the balance sheet. For non-fixed-term leases, the Group only recognises on the balance sheet leases with a term of notice longer than 12 months that do not include a significant cancellation clause. At the end of the period under review, the right-of-use assets amounted to EUR 3.1 million, and they are included in the Property, Plant and Equipment section under the consolidated statements of financial position. Correspondingly, the non-current and current interest-bearing liabilities in the consolidated statements of financial position include EUR 3.1 million of lease liabilities. EUR 1.0 million of depreciation and financing expenses related to right-of-use assets were recognised in the result for the period under review. For the cash flow statement, application of the IFRS 16 standard increased the cash flow from business operations and decreased the financing by EUR 1.0 million. A simplified method has been used for the transition, and the comparison figures from the year preceding the transition have not been adjusted.
The above figures have not been audited.
The above figures have been rounded and may therefore differ from those given in the official financial statements.
This communication includes future-oriented statements that are based on the assumptions currently made by the company's management and its current decisions and plans. Although the management believes that the future expectations are well founded, there is no certainty that these expectations will prove to be correct. This is why the results may significantly deviate from the assumptions included in the future-oriented statements as a result of, among other things, changes in the economy, markets, competitive conditions, legislation or currency exchange rates.
Vieremä, 13 August 2019
PONSSE PLC
Juho Nummela
President and CEO
FURTHER INFORMATION
Juho Nummela, President and CEO, tel. +358 400 495 690
Petri Härkönen, CFO, tel. +358 50 409 8362
DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Principal media
www.ponsse.com
Ponsse Plc is a company specialising in the sales, manufacture, servicing and technology of cut-to-length method forest machines and is driven by genuine interest in its customers and their business. Ponsse develops and manufactures sustainable and innovative harvesting solutions based on customers' needs.
The company was established by forest machine entrepreneur Einari Vidgrén in 1970, and it has been a leader in timber harvesting solutions based on the cut-to-length method ever since. Ponsse is headquartered in Vieremä, Finland. The company's shares are quoted on the NASDAQ OMX Nordic List.

Ponsse is one of the world’s leading manufacturers of forest machines for the cut-to-length method, and its customer-oriented operations are still guided by the wishes and needs of forest machine entrepreneurs. Ponsse products cover the diverse requirements of efficient harvesting faced by machine entrepreneurs around the world. Tree species vary from old pine to eucalyptus, and the machines have to endure tropical heat and arctic cold, travel without destroying the terrain and briskly climb the steepest slopes.