ensto customer magazine 2009

A positive glanceAT A TIME OF UNCERTAINTYInterview with Ensto CFO Marjut HaverinenYear 2008began with expectationsof profitable growth, but itsoon became apparent thatuncertainty was increasingand slowing down was areality.Marjut HaverinenGrowth was no longer a given but Enstoremains on track to move forward.– At present we are facing challenging timesbut we are certainly trying our best to overcomethem, says Ensto CFO MarjutHaverinen. Ensto is concentrating on beingable to react to changes and on strengtheningthe company’s ability to prepare for bettertimes to come.Ensto Group consists of three business areasoperating under one Ensto brand: EnstoUtility Networks, Ensto Enclosures andComponents and Ensto Building Technology.The three strategic business units (SBU) alloperate in somewhat different sectors makingEnsto a bit less vulnerable. turnover by SBU– All possible actions shall be taken to makecertain that Ensto will recover from thesedemanding times as soon as possible,Haverinen says.Weakening currencies affectingEnsto’s business– We were surprised by the drastic fall inexchange rates and their effect on our business.For example in Kazakhstan, the localcurrency went down by nearly 30% overnight,making a dent in Ensto’s business.– But looking at the big picture overall,demand will not vanish. We believe that bytaking good care our operability and competitiveness,this will eventually lead to a positiveturn in demand for our products andservices, says Marjut Haverinen.Good times, bad times,Ensto stays strong– Our product development is kept at the17.4 %planned level to prepare for new products. In2008 we invested in production capacity,which means we are ready 48.2 when % the businesspicks up again.34.4 %– Typically for a family business, our solvencyis on a good level and no unnecessary riskshave been taken. Being self-sufficient is oursafety net in bad times and we can rely on(M€) our financial stability.Ensto Building Technology (117.9) turnover (When Ensto asked Utility about Networks Ensto’s future (84.2) plans,Marjut Ensto Haverinen Enclosures is optimistic: and Components (42.4)– We are currently seeking new businessopportunities and planning to expand thebusiness into areas that will support theexisting Ensto businesses. Energy efficiency isone of our main interests, guiding our strategicplanning and investment decisions.operating(M€)Turnover by SBU (M€)Turnover by Market Area (M€)2.3 %25017.4 %48.2 %24 %20034 %150178.6209.1232.7234.4 %13.7 %26 %1002turnover by SBU(M€)Ensto Building Technology (117.9)Ensto Utility Networks (84.2)turnover byMarket Area (M€)turnover (M€)50Finland (80.9) 02005 2006personne2007 20Other Nordic countries (61.9)Ensto Enclosures and Components (42.4)Western Europe (32.6)Eastern and Middle Europe (57.2)10 | ENSTO TODAY 2009Other countries (5.0)operating profit15