The Annual General Meeting of Patria Oyj adopted the Consolidated Financial Statements for the financial period that ended on 31st December 2018.
Patria Group’s net sales for 2018 totaled EUR 476.1 million (EUR 467.2 million in 2017). Defence solutions and their lifecycle business accounted for 92% (94%) and civilian products for 8% (6%) of net sales, while 27% (33%) of net sales accrued from abroad.
The Group’s operating profit for the Financial Period was EUR 35.9 million, representing 7.5% of net sales (EUR 34.6 million, 7.4%). The consolidated income before taxes amounted to EUR 33.7 million (EUR 32.1 million). The Group’s return on equity was 11.8% (10.7%).
It was decided to discharge the members of the Board of Directors and the President and CEO from liability for the financial period of 2018. 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 Kongsberg Defence & Aerospace AS, totally EUR 13 920 944.50, representing 47.5% of Group’s profit.
Esa Rautalinko will continue as the Chairman of the Board of Directors of Patria Oyj. Harald Aarø, Executive Vice President, Business Development, KONGSBERG; Eirik Lie, Executive Vice President, KONGSBERG and President, Kongsberg Defence & Aerospace; Päivi Marttila, CEO, Sievi Capital plc; Jarle Næss, Senior Vice President, Business Development, Kongsberg Defence & Aerospace; Ari Puheloinen, General (ret.); Petri Vihervuori, Senior Financial Adviser, the Ownership Steering Department in the Prime Minister’s Office, and Gyrid Skalleberg Ingerø, Executive Vice President and Chief Financial Officer, KONGSBERG will continue as members of the Board of Directors.
Sinuhe Wallinheimo, Member of Parliament, will continue as the Chairman of Patria Oyj Consultative Committee and Markus Mustajärvi, Member of Parliament was appointed as the Vice Chairman. The other members of the Consultative Committee are Mika Kari, Member of Parliament; Lieutenant General Timo Kivinen, Chief of Defence Command; Mikko Savola, Member of Parliament; Petri Peltonen, Under-Secretary of State at the Ministry of Economic Affairs and Employment; Raimo Vistbacka, Master of Laws; Jussi Karimäki, Equipment Assembler, Patria; Ilkka Kokko, Systems Engineer, Patria, Juha Kuusi, System Specialist, Patria and Jari Metsälä, Manager, Product Design, Patria.
PricewaterhouseCoopers Oy (PwC), Authorised Public Accountants, will continue as Auditor. Jukka Karinen, APA is the partner in charge of the audit.
Ville Jaakonsalo, CEO, act., Chief Financial Officer, phone +358 500 881 070, email@example.com
Patria is an international provider of defence, security and aviation life cycle support services and technology solutions. Patria provides its aerospace and military customers with equipment availability, continuous performance development as well as selected intelligence, surveillance and management system products and services. Patria’s mission is to give its customers confidence in all conditions, and the vision is to be the #1 partner for critical operations. Patria has several locations including Finland, Sweden, Norway and Estonia. Net sales totaled EUR 467.7 million in 2017, and Patria employs 2,800 professionals. Patria is owned by the State of Finland (50.1%) and Norwegian Kongsberg Defence & Aerospace AS (49.9%). Patria owns 50% of Norwegian Nammo, and together these three companies form a leading Nordic defence partnership.