May 29, 2019

Proventia Group had an excellent first quarter

January–March in brief (unaudited)

• Net sales increased by 75.2% from the previous year to EUR 12.5 million (EUR 7.1 million in 2018).
• Operating profit was EUR 1.8 million (EUR 1.6 million in 2018).
• Profit for the period was EUR 1.4 million (EUR 1.3 million in 2018).
   

President and CEO Jari Lotvonen:

“Proventia’s year 2019 has started as planned. Demand for our products continued to increase during the first quarter. Our growth was strong in our Emission Control and Test Solutions business areas. The change in our relative profitability was a result of the increase in our Test Solutions business.”

Outlook                                                        

Proventia expects demand to continue to increase in all business areas. Net sales and operating profit in 2019 are expected to increase from 2018. In 2018, net sales were EUR 38.3 million, and operating profit was EUR 4.7 million.

Contact information:

Jari Lotvonen, President and CEO, Proventia Group Corporation, tel. +358 20 781 0200, jari [dot] lotvonen [at] (at)proventia [dot] com

Proventia Group is an international technology company based in Oulu. It offers solutions and services for the engine, machine and vehicle industries to help solve the global problem of air pollution. Proventia develops, designs and manufactures exhaust aftertreatment systems for diesel engines, work machines and heavy vehicles. The company also provides modular testing laboratories and centres for engines, powertrains, hybrid systems and batteries. The company has around 130 employees in Finland and the Czech Republic. Proventia is part of Head Invest, a group of technology companies. www.proventia.com