Sep 21, 2018
Proventia Group Oy continues its strong growth
Proventia Group Oy is a 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. Air pollution can be reduced by tighter international emissions regulations, shifting to cleaner diesel engines and alternative fuels, and finding solutions from other power sources, like electricity. Proventia develops, designs and manufactures exhaust aftertreatment components and systems for diesel engines, heavy-duty machines and heavy vehicles. The company also offers modular test laboratories and centres for the research and development and testing of engines, powertrains, batteries and electrical components.
Key points, January–June 2018
- Net sales increased by 71.6% from the previous year to EUR 14.5 million (EUR 8.4 million in January–June 2017).
- Operating profit was EUR 2.9 million (EUR 0.8 million in January–June 2017).
- At the end of June, the company had 91 employees (52 employees in June 2017).
- Between January and June 2018, the company recruited 28 new employees.
Proventia continued its strong growth during the first half of the year. The company increased its net sales by nearly 72% to EUR 14.5 million during the first half of 2018, while its net sales during the same period last year were EUR 8.4 million. The company’s operating profit during the first half of 2018 was EUR 2.9 million; in the same period in the previous year, it was EUR 0.8 million.
President and CEO Jari Lotvonen:
“International environmental and emissions regulations are becoming stricter, which has had a positive impact on our Emission Control business. We will continue to provide various engine and machine manufacturers with R&D, design and testing services for exhaust aftertreatment systems complying with the emissions regulations that are to come into force in 2019–2020.
Markets for retrofitting emissions systems on buses have developed favourably for us in Europe. In the UK, we will continue our retrofit project for buses in London, and deliveries are already underway. During the first part of the year, we obtained approvals for our retrofit systems for three different bus categories in Germany.
Demand for modular testing solutions offered by our Test Solutions business, specialising in vehicle testing systems, continues to grow, and the first testing systems for batteries for electric cars were ordered from us during the first part of the year. The value of these orders is more than EUR 10 million.
At the end of June, we had 91 employees; at the same time last year, we had 52. During the first half of the year, we recruited 28 new employees, 25 in Oulu and three for our new production plant in the Czech Republic.”
More information: Net sales and operating profit 01-06/2018, 01-06/ 2017 and financial year 2017
Jari Lotvonen, President and CEO, Proventia Group Oy, tel. +358 20 781 0265, jari.lotvonen(at)proventia.com
Proventia Group Oy is a technology company based in Oulu. It offers solutions and services for the engine, heavy-duty machine and vehicle industries. Proventia develops, designs and manufactures exhaust aftertreatment systems for diesel engines, heavy-duty machines and heavy vehicles in the OE and retrofit markets. Proventia offers unique modular test units and centers for testing engines, powertrains and electrical components. Proventia is a growing international company and part of the Head Invest Group. www.proventia.com