Archive for June, 2009


Etteplan warns on profit, sees negative '09 EBIT

Filed Under: Etteplan by pietrox — Leave a comment
26/06/2009

Demand for technical design and product information services has further declined during the second quarter of 2009. The weakened market situation effects mainly Etteplan’s operations in Sweden. In the end of 2008 and beginning of 2009 Etteplan has signed a significant number of technical design and product information framework agreements with global companies in Sweden. These customers have postponed the realization of assignments during the second quarter of 2009.

In Sweden Etteplan continues with the operation adjustments that commenced during the first quarter of 2009 as well as with the new adjustments that commenced during the second quarter of 2009. In addition to the previously reported personnel reductions and reorganisation of business, the new adjustments include further personnel reductions, cutting fixed costs and reorganising business. The new personnel reductions affect approximately 200
employees in Sweden and will be carried out as permanent lay offs.

The adjustments will lower fixed costs, improve cost flexibility of Etteplan’s Sweden operations and utilize effectively whole group’s design capacity. Adjustments, that have now commenced, will be fully executed during the second half of year 2009.

In 2009 the cost of the adjustments is approximately EUR 6 million. Etteplan Oyj’s full-year revenue is expected to be under EUR 120 million and operating profit to show a loss due to non-recurring items caused by operation adjustments.

Etteplan publishes its January-June 2009 interim report on 12 August 2009.

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UPM and Sveza delay pulp project in Russia

Filed Under: Pöyry by pietrox — Leave a comment
25/06/2009

BRUSSELS, June 25, 2009 (RISI) – UPM and Sveza’s plans to build a greenfield pulp mill and sawmill in the Vologda region of northwest Russia, have been pushed back due to the current economic climate.

“We are still continuing the work on the project together with Sveza, but given the economic situation in Russia and the pulp business in general right now, it is not possible to make any investment under current conditions. At least not before the economic situation in Russia as well as the general economic situation improves,” Tapio Korpeinen, president of UPM’s energy and pulp business group, commented.

In 2007, UPM teamed up with the Russian Sveza Group to form a joint venture, with each party holding 50% of the share capital.

The Finnish and Russian companies intended to start up a 800,000 tonne/yr pulp mill, a 300,000 tonne/yr sawmill and a 450,000 m³/yr oriented strand board building panels facility by 2012. However, the scheme, which is worth around Euro 1.2 billion ($1.67 billion) is still at the feasibility stage.

Korpeinen was not able to say when the project will advance. “We need to have a better visibility on both the economy and the possibility of getting financing for the investments as well as on the pulp cycle,” he said.

Andrey Kashubsky, managing director of Sveza, commented, “The project is ongoing. We are currently selecting a site for the complex in the north-western region of Russia.” He added, “Following the recent drop in demand for paper and pulp coupled with temporary investment limitations at Sveza and UPM, the final decision regarding the investment has been pushed back until further notice.”

via RISI.

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New heavy truck registrations halved in May -49.6%

Filed Under: Componenta, PKC Group by pietrox — Leave a comment
24/06/2009

New heavy truck registrations halved in May -49.6% compared to the same month last year, with total registrations stalling at 13,342 units. In Western Europe, the downturn ranged from 38.8% in France to 39.9% in Germany, 51.7% in the UK, 55% in Italy and 79.5% in Spain. In the new EU Member States, results dropped even more sharply, by 64.5% in the Czech Republic, 66.2% in Poland and 79.6% in Romania. Five months into the year, the trend was similar, with markets decreasing by 32.2% in Germany, 33.5% in France, 44.1% in Italy, 47.5% in the UK and 77.1% in Spain. In the new EU Member States, new registrations were down 57.7% in the Czech Republic, 66.5% in Romania and 68.5% in Poland, resulting in an overall decline of 44.6%.

via ACEA – European Automobile Manufacturers’ Association.

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Lomakiinteistöjen kaupat puolittuneet

Filed Under: Honkarakenne by pietrox — Leave a comment
11/06/2009

Lomakiinteistöjen kauppa Suomessa on hidastunut vuoden 2009 tammi-toukokuussa noin puoleen aiemmista vuosista. Venäläiset ostavat edelleen mökkejä Kaakkois-Suomesta.

1990-luvun puolivälissä alkanut kesämökkien ja tonttien hintojen nousu on tasaantunut ja saattanut paikoin kääntyä laskuun. Tiedot käyvät ilmi Maanmittauslaitoksen ylläpitämästä kiinteistöjen kauppahintarekisteristä.

Rakentamattomien rantatonttien mediaanihinta tammi-toukokuussa on 25 000 euroa. Vuonna 2008 vastaava hinta oli 26 000 euroa. Rantamökkien mediaanihinta on kuitenkin vielä noussut tänä vuonna 87 000 euroon, kun vuonna 2008 hintataso oli 86 000 euroa.

Hintatilaston kärjessä on tänä vuonna Varsinais-Suomi, jossa rantatontti maksaa keskimäärin 72 000 euroa ja kesämökki 172 000 euroa. Rannattomat kesämökit maksoivat viime vuonna keskimäärin 36 500 euroa. Hinta on pysynyt viime vuosina samoissa lukemissa.

Halvimmat mökit löytyvät keskimäärin Kainuusta. Kun mökki omalla rannalla Etelä-Suomessa on maksanut noin 200 000 euroa viime vuosina, Kainuussa sama voi irrota 30 000-40 000 eurolla.

Venäläiset ostajat ovat liikkeellä erityisesti Etelä-Savossa ja Etelä-Karjalassa. Erityisen paljon venäläisiä ostajia on ollut Savonlinnassa, jossa 25 prosenttia mökkien ostajista on Venäjältä.

Venäläisten mökkikaupat ovat vähentyneet samaan tahtiin suomalaisten kanssa. Viime vuonna venäläiset tekivät noin 780 kauppaa loma-asumiseen tarkoitetusta kohteesta.

– Venäläisten ostointo laantui tämän vuoden toukokuussa. Suomalaisten kaupat lähtivät vähenemään viime vuoden toukokuusta, Uudenmaan maanmittaustoimiston asiantuntija Juhani Väänänen sanoo.

Keskimäärin viime vuosina on tehty 16 000-17 000 kauppaa kesämökistä tai vapaa-ajanrakentamiseen kaavoitetusta tontista.Vilkkainta mökkikauppa on tänäkin vuonna ollut Kuusamossa, jossa kauppoja on tehty 44 mökistä.

via Täältä ostat halvimman kesämökin | Kauppalehti.fi.

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UK investment property market hit by troublesome loans

Filed Under: Sponda by pietrox — Leave a comment
07/06/2009

Most lenders to the UK’s investment property market will be unable to shrink troublesome loan books for the foreseeable future, despite much of this debt being under water, analysts claim.

Some £50 billion out of £280 million of loans arranged in the markets during the 2004 to 2007 boom are now worth more than the underlying properties, according to property consultants Savills.

‘My guess is that at least 75% of all loans are in breach of at least the LTV loan to value covenant,’ warned William Newsom, head of valuation at Savills UK.

He added that around half of existing lenders also plan to decrease their loans to the sector this year so foreclosing on the debts of property owners may not be an option because the lack of financing makes it difficult to find new buyers. Banks are also reluctant to sell into a falling market.

As an alternative to calling in the debt, most lenders are extending repayment periods, in some cases by as much as eight years, while renegotiating loan terms at higher margins, Newsom said.

He believes that the next five to ten years will be about managing existing loans for the banks who are effectively the new property owners, in partnership with their borrowers.

However banks in Germany and the UK in particular are willing to lend. Of 22 banks willing to originate loans of above £10 million in value, 10 are German lenders and eight are from the UK, including Barclays, Lloyds, and HSBC. Just two German banks, DG Hyp and Eurohypo are willing to make loans of above £100 million pounds.

Mat Oakley, head of commercial property research at Savills, expects UK investment sales for the first six months of 2009 to be higher than in the second half of last year, and reckoned this signals the property market has turned the corner.

While buyers have so far concentrated on top-end buildings with long leases and strong tenants, he expects to see a new wave of risk-loving investors, keen to take advantage of the massive discounts currently available.

‘We will start to see the opportunistic deals coming in, and the best deals will be done before the herd returns in 2010, 2011,’ he said.

via UK investment property market hit by troublesome loans | Europe | News.

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