Growing activities in an investment year

Trading update 3th quarter 2016

Year-to-date revenues amount to 238.9 MEUR versus 218.2 MEUR in 2015; 9.5% above the comparable number for the same period of 2015.

Thanks to a high production backlog at the beginning of Q3, revenues during Q3 stand alone were 74.4 MEUR or 10.2% above the comparable number for the same period of 2015.

The current order backlog at the end of September 2016 is 35.4% higher than at the end of September 2015. Management estimates that approximately 38% of this order backlog relates to revenues in 2017.

Based on this, management expects the full year revenue to be above prior year.

As we said in August, the intense competition on large projects and further investments in production capacity, sales force and product development in preparation for growth, will continue to hold back further increases in profitability.

The most important risk factors remain rapid changes in demand, availability of financing to our customers, high exchange rate volatility and fluctuating raw material, energy and transport prices.