The Annual General Meeting of Patria Oyj adopted the Consolidated Financial Statements for the financial period that ended on 31st December 2014.
Patria Group’s net sales for 2014 totaled EUR 462.4 million (EUR 589.5 million in 2013), down by 21.6 % as expected. Defence solutions and their lifecycle business accounted for 89 % (93 %) and civilian products for 11 % (7 %) of net sales, while 50 % (54 %) of net sales accrued from abroad.
The Group’s operating profit was EUR 56.0 million, representing 12.1 % of net sales (EUR 87.8 million). Consolidated income before taxes amounted to EUR 54.7 million (EUR 84.7 million), and the Group’s return on equity was 18.7 % (21.4 %).
It was decided to discharge the members of the Board of Directors and the President from liability for the financial period of 2014. Furthermore, the Annual General Meeting decided, according to the Board of Directors’ proposal, to distribute a dividend of EUR 0,50 per share owned by the State of Finland and Governia Oy, totally EUR 13 920 944,50, representing about 28,9 % of Group’s profit.
Christer Granskog, MSc (Eng.) will continue as the Chairman of the Board of Directors of Patria Oyj, and Kirsi Komi, Master of Laws, as the Vice Chairman. Kari Rimpi, Lieutenant General retired will continue as a member. Sari Helander, CFO, Posti Group Oyj and Marko Hyvärinen, Financial Counsellor, Prime Minister’s Office, Ownership Steering Department, were elected as the new members of the Board of Directors.
Raimo Vistbacka, Master of Laws, will continue as the Chairman of Patria Oyj Consultative Committee and Thomas Blomqvist, M.P., as the Vice Chairman. Of the other members, Jussi Karimäki, Equipment Assembler, Patria, Juha Kuusi, System Specialist, Patria, Seppo Kääriäinen, M.P., Petri Peltonen, Director General, Department of Enterprise and Innovation, Ministry of Employment and the Economy, Tuula Peltonen, M.P., Juha Rannikko, Vice Admiral, Chief of Defence Command Finland, Kari Tolvanen, M.P. and Petri Pitkänen, Workshop Manager, Patria will continue as members. Eero Järvinen, Armoured Vehicle Mechanic, Patria was appointed as the new member of the Consultative Committee.
PricewaterhouseCoopers Oy (PwC), Authorised Public Accountants, will continue as Auditor. Mr Jouko Malinen, MSc (econ.), APA is the partner in charge of the audit.
Birgitta Selonen, Vice President Corporate Communications, Patria Group, phone +358 40 869 2043, email@example.com
Patria is a trusted provider of defence, security and aviation life cycle support services and technology solutions. Besides Finland, the Group has operations in Sweden, Norway, Estonia, Poland, the United Arab Emirates, the United States, and South Africa. Patria employs 2,800 professionals.