DOCSLIB.ORG

FINANCIAL REVIEW 2018 Peace of Mind in All Conditions Contents

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
FINANCIAL REVIEW 2018 Peace of Mind in All Conditions Contents FINANCIAL REVIEW 2018 Peace of mind in all conditions Contents CONTENTS Peace of mind in all conditions .........................................................................1 PEACE OF MIND IN Nokian Tyres in brief ............................................................................................2 ALL CONDITIONS Key figures 2018 ....................................................................................................3 Highlights of the year 2018 ...............................................................................4 Review by the President & CEO........................................................................5 In the heart of a rainstorm or heavy snowfall, you can Strategy ................................................................................................................... 7 rely on us to bring you home safely. Report by the Board of Directors ................................................................... 11 Financial Statements ....................................................................................... 23 Nokian Tyres is the Scandinavian pioneer in demanding Consolidated Income Statement ................................................................. 24 conditions and the inventor of the winter tire. We make Consolidated Statement of Financial Position ........................................ 25 premium tires for consumers and customers who Consolidated Statement of Cash Flows..................................................... 26 value safety, sustainability, and innovative products. Consolidated Statement of Changes in Equity .......................................27 Our offer also includes tires for trucks and heavy Accounting policies for the Consolidated Financial Statements....... 28 machinery. Notes to the consolidated financial Statements ................................... 34 With our highly innovative team and advanced Parent Company Income Statement and Balance Sheet .................... 63 technology, we have built some of the most efficient Parent Company Statement of Cash Flows .............................................. 64 tire factories in the industry. A new factory is under Accounting policies for the Parent Company .......................................... 65 construction in the US. Notes to the Financial Statement of the Parent Company ............... 66 Key financial indicators .....................................................................................71 Information on Nokian Tyres’ share .............................................................73 Nokian Tyres group structure ........................................................................75 Signatures ............................................................................................................76 Auditors’ Report .................................................................................................. 77 Corporate Governance Statement ..............................................................80 Salaries and remunerations 2018 .................................................................87 Board of Directors .............................................................................................. 91 Management Team ............................................................................................92 Investor Information and Investor Relations ............................................ 94 NOKIAN TYRES PLC – FINANCIAL REVIEW 2018 1 Nokian Tyres in brief NOKIAN TYRES IN BRIEF PRODUCTS SOLD IN WINTER TIRES SHARE OF SALES Nokian Tyres develops and We are market 62 manufactures premium tires COUNTRIES 2/3 for people who value safety, sustainability, and innovative leaders in products. We offer peace of mind premium tires in the in all conditions and instill our Scandinavian heritage in every tire Nordic countries we make. Our company designs tires for passenger cars, trucks, and Russia and heavy machinery. NET SALES EUR Our business is divided into three units: Passenger Car Tyres, Heavy Tyres and Vianor, our chain of tire and car service centers. 4,800 Our headquarters is based in Nokia, Finland. We have 1,595MILLION EMPLOYEES factories in Finland and Russia, and a third one is under construction in the US. Production in the US factory will start in 2020. We have two testing centers in Finland and a new one is being built in Spain. We are the inventor of the winter tire. With our motivated and innovative team we can take safety to a new level in the summer, all-season, and all-weather tires as well. We are market leaders in premium tires in the Nordic countries and Russia. In five years we aim to double our sales SAFE, in North America and grow by 50% in Central Europe. SUSTAINABLE Sustainability is an essential part of our business. We aim for sustainable safety and eco-friendliness throughout AND INNOVATIVE 120YEARS the product life cycle. In addition to sustainable product PRODUCTS development and products, we care about people and the environment as well as our customers and employees. In 2018, the company’s net sales were EUR 1.6 billion and it employed some 4,800 people. Nokian Tyres is listed on Nasdaq Helsinki. NOKIAN TYRES PLC – FINANCIAL REVIEW 2018 – NOKIAN Tyres IN BRIEF 2 Key figures 2018 KEY FIGURES 2018 CC* Net sales, operating profit Earnings per share and Change Change EUR million 2018 2017 % % and operating profit % dividend per share Net sales 1,595.6 1,572.5 1.5 5.7 EUR million Operating pro t % EUR Operating profit 372.4 365.4 2,000 50 2.5 Operating profit % 23.3 23.2 1,600 40 2.0 Profit before tax 361.7 332.4 1,200 30 1.5 Profit for the period 295.2 221.4 Earnings per share, EUR 2.15 1.63 800 20 1.0 ROCE, % 23.3 22.4 400 10 0.5 Equity ratio, % 71.0 78.2 0 0 0.0 Cash flow from operating 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 activities 536.9 234.1 Net sales Operating Operating Earnings Dividend Gearing, % –21.2 –14.2 pro t pro t % per share per share Interest-bearing net debt –315.2 –208.3 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 Capital expenditure 226.5 134.9 Net sales, EUR 1,389.1 1,360.1 1,391.2 1,572.5 1,595.6 Earnings per share 1.56 1.8 1.87 1.63 2.15 Operating profit, EUR 308.7 296.0 310.5 365.4 372.4 Dividend per share 1.45 1.50 1.53 1.56 1.58 * Comparable currencies Operating profit % 22.2 21.8 22.3 23.2 23.3 Net sales by market area, % 2017 2018 Return on Capital Employed, % Nordic countries 40 39 % Russia 19 19 25 Other Europe 28 27 North America 11 12 20 Other Countries 2 2 15 10 Net sales by business unit* , % 5 0 2014 2015 2016 2017 2018 2017 2018 Passenger Car Tyres 72 72 2014 2015 2016 2017 2018 Heavy Tyres 11 12 Return on Capital Vianor 22 Employed, ROCE, % 19.20 20.30 19.90 22.40 23.30 21 * including internal sales NOKIAN TYRES PLC – FINANCIAL REVIEW 2018 – KEY FIGures 2018 3 Highlights of the year 2018 HIGHLIGHTS OF THE YEAR WE NET SALES IN BUILDING OF OUR STRENGTHENED COMPARABLE OUR MARKET CURRENCIES NEW US NOKIAN FACTORY POSITION IN POWERPROOF +5.7% STARTED NORTH AMERICA AND NOKIAN AND RUSSIA WETPROOF WERE INTRODUCED WE WERE AGAIN INCLUDED IN DOW JONES’ DJSI TO THE CENTRAL WORLD SUSTAINABILITY INDEX AND ALSO IN THE EUROPEAN MARKET MORE STRICTLY DEFINED DJSI EUROPE INDEX WE STARTED TO VIANOR IMPROVED BUILD A TESTING ITS PROFITABILITY CENTER IN SPAIN DRIVEN BY INCREASED OPERATIONAL EFFICIENCY AND SALES MANAGEMENT HEAVY TYRES STARTED TO BUILD WE REDUCED ROLLING NEW CAPACITY IN RESISTANCE BY FINLAND 8% IN AVERAGE IN 2013–2018 NOKIAN TYRES PLC – FINANCIAL REVIEW 2018 – HIGHLIGhts OF THE YEAR 4 Review by the President & CEO NEW FINANCIAL TARGETS GUIDE US IN EXECUTING OUR STRATEGY I am pleased to report that In 2018, we celebrated 120 years in business. That is an we reached many important impressive track record for any company! Innovative products, a trusted brand, motivated employees, and a milestones in 2018: we started commitment to serving customers sustainably over the construction work on our new long-term, have all contributed to strengthening our position US factory; we began building a in the market. new testing center in Spain; we We had a good year – delivering higher net sales and operating profit. Net sales increased by 5.7% with initiated investments to increase comparable currencies, driven by Passenger Car Tyres, Heavy Tyres’ production capacity despite a delayed summer as well as lower new car sales by 50% in Finland; and we were in Sweden and Norway. We experienced good growth in again selected in Dow Jones’ DJSI Heavy Tyres, especially in sales of agricultural and forestry tires. Vianor successfully continued to improve operational World sustainability index, as well efficiency and sales management. Overall, we increased the as DJSI Europe index. At the same operating profit for the Group, despite a significant negative time, we successfully continued to currency impact. strengthen our position in North Key strategic ambitions will help us America and Russia. deliver our new financial targets Nokian Tyres has now entered its next phase of growth. In line with our updated 2018 strategy, we will seize the opportunities for further growth in Russia, Central Europe and North America. Our financial targets for 2019–2021 are the following: • to grow faster than the market: CAGR above 5% with comparable currencies • to maintain healthy profitability: EBIT at the level of 22% • to deliver good returns for our shareholders: Dividend above 50% of net earnings NOKIAN TYRES PLC – FINANCIAL REVIEW 2018 – REVIEW BY THE President & CEO 5 We will reach
Load more

Recommended publications
  • ANNUAL REPORT 2020 SMARTER CARGO FLOW for a BETTER EVERYDAY Annual Review Sustainability Financial Review Annual Report 2020 Read More Online Governance
    ANNUAL REPORT 2020 SMARTER CARGO FLOW FOR A BETTER EVERYDAY Annual review Sustainability Financial review Annual Report 2020 Read more online Governance Annual review Sustainability Financial review Annual Report 2020 Governance CONTENTS CARGOTEC Annual Review ....................................................................���������������������������������������������������������������������3 Cargotec in brief ....................................................................................... 4 SMARTER CARGO FLOW Business areas ........................................................................................ 5 FOR A BETTER EVERYDAY CEO review .............................................................................................. 6 Highlights of the year ................................................................................ 8 Key figures ............................................................................................... 9 Cargotec is a leading provider of cargo and load Megatrends ............................................................................................ 11 handling solutions with the goal of becoming the Strategy ................................................................................................. 12 leader in sustainable and intelligent cargo handling. Value creation ........................................................................................ 14 Our solutions and services make global trade smarter, better and more sustainable. As leading Sustainability
    [Show full text]
  • Davanti Tyres
    PAGE 01.qxp_Layout 1 04/07/2017 17:17 Page 1 JULY 2017 JULY 2017 TYRE TRADE NEWS - THE UK’s FAVOURITE TYRE TRADE MAGAZINE email: [email protected] TYRE FAVOURITE THE UK’s TRADE NEWS - TYRE 2017 JULY TYRETYRE NEWS The No.1 Magazine forTrade The Tyre Industry Continental automotive expertise, connecting the car and road with innovative technology German engineering excellence, right down to the sole contact that counts Technical ingenuity, all-round know-how leads to better tyres Conidence and control for every car in any driving situation www.continental-tyres.co.uk NON-STICK DISCOVERER STT PRO Tested and proven in the most punishing conditions, the Discoverer STT Pro can easily handle all that Britain’s countryside and weather can throw at it. To satisfy your off-roading, adventure-seeking customers, you need to stock Cooper’s most advanced and extreme tyre yet. FEATURING: ADVANCED MUD RELEASE DESIGN Mud release dimples and scoops create air pockets that prevent mud from sticking between the tread blocks, maximising traction. BUY NOW FROM: INCLUDING 01458 252550 01905 778688 01633 898250 01772 323198 Malvern Tyres Group is the leading supplier of Cooper Discoverer STT Pro tyres to the trade. Established and privately owned for over 35 years, we are one of the UKs largest independent tyre specialists. M3k14032_Malvern_Tyre Group Ads_COOPER STT PRO_Trade_STTNONTRADE2.indd 1 15/06/2017 14:09 PAGE 03.qxp_Layout 1 06/07/2017 16:22 Page 1 Industry News C o n4-29 t e n t Encircle Update 4 Kumho Tyre - Get the Thumbs Up 6 Yokohama
    [Show full text]
  • 2020-00 NTDA Tyre & Automotive Aftercare Directory
    UK TYRE & AUTOMOTIVE AFTERCARE DIRECTORY 2020 UK TYRE & AUTOMOTIVE AFTERCARE DIRECTORY UK Tyre & Automotive Aftercare DIRECTORY 2020 Maritime Cargo Services Freight Forwarding Agents NOT ALL SUPPLY CHAINS ARE EQUAL.... PROUD TO BE FIRST IN MIND FOR TYRE IMPORTERS FOR OVER 25 YEARS www.maritimecargo.com edicated to D hel pin Del g ive yo ri u U n g Frank Ruggles Walter Marr Don Gibson Mike West Brian BrownProud winnersDerek of Mossthe K g President President President President PresidentNTDA’s Tyre WholesalerPresident rategic r st all ’s a o 1973 1974 1975 1976 1977 of the Year1978 2019 11 y p l w Call u la la l s FR c r o EE e g v y d o to e e d w s r u a y a t t r f r d h b r e o h i e u Derek Peaker Richard Davies John Reeves Gordon Bain Trevor Allen Allan Murray m s President President President President President President o s t U 1979 1980 1981 1982 1983 1984 i u r l K n a s i b e n e u d s s u p s l i f t n w o o t e o r r s i t c 8 Peter Fearn Findlay Picken Charles Hespin Malcolm Shields Ivan Smith David Stanton a o h u President President President President President President n f t 1985 1986 1987 1988 1989 1990 s d S i t p m t o m a a m o e p s b s e l s i e r l e a e t c s n o o d o g n n n a Liz Wright John Holland Mike Craddock Peter Gaster John Thurston Hugh Pitcher v 0 e ’ y 8 President President President President President President s e 0 r 8 n 1991 1992 1993 1993 1994 1995-1996 1 r c i 3 1 e 1 4 2 3 a a n c r n e , g 4 x e 4 s a o e r n y d t f v n a r e t a i Tony Cooke Ashley Croft Martin Rowlands John Tarbox Peter Gaster David White l s President National Chairman National Chairman National Chairman National Chairman National Chairman u s p n p o 1997-1998 1999-2002 2002-2005 2005-2007 2007-2010 2010-2012 i o t r u t l s o To our forefathers and all the Past Presidents, National Chairmen and the many Regional Officers who have voluntarily and selflessly served the www.profitlink.co.uk Call us free today from landlines and mobiles onAssociation over the last 90 years we say THANK YOU.
    [Show full text]
  • Find Your Nearest Site
    Find your nearest site Scotland Northern Ireland North East Isle of Man Yorkshire and the Humber North West East Midlands Wales West Midlands East of England Greater London South West South East East Midlands Site name Phone number Address Town/City Post code PRESTIGE - PROMECH GARAGE SERVICES 01664 503467 UNIT 3B ARNOLD NG5 7FJ PRESTIGE - AUTOMOTO CAR CARE CENTRE 01664 503467 33-41 HIGH ROAD BEESTON NG9 4AF STONEACRE PETERBOROUGH BOONGATE 01405 744192 FORTY ACRE ROAD BOONGATE PE1 5PS PRESTIGE - BOSTON TYRE & AUTO CENTRE 01664 503467 46 FYDELL STREET BOSTON PE21 8LF VERTU HONDA BOSTON 1 MARSH LANE BOSTON PE21 7QS NTA COALVILLE LEICS (503) 01530 834321 26 ASHBY ROAD COALVILLE LE67 3LA PRESTIGE - ANDERSON COMMERCIALS LTD 01664 503467 UNIT 7-8 SOUTH STREET COALVILLE LE67 1EU NTA CORBY NORTHANTS (495) 01536 203508 LLOYDS ROAD CORBY NN17 1AW PRESTIGE - CORBY CAR CARE CENTRE 01664 503467 3 CURIE COURTYARD CORBY NN17 5DU PRESTIGE - M & A CARS LTD 01664 503467 11 WHITTLE ROAD CORBY NN17 5DX HALFORDS GRANTHAM (677) 01476 591435 LONDON ROAD GRANTHAM NG31 6HS NTA GRANTHAM (655) 01476 575887 68 LONDON ROAD GRANTHAM NG31 6HR PRESTIGE - GRANTHAM SERVICE & MOT CENTRE 01664 503467 UNIT 1 ALMA PARK ROAD GRANTHAM NG31 9SE STONEACRE GRANTHAM 01405 744192 TOLLEMACHE ROAD SOUTH GRANTHAM NG31 7UH HALFORDS NOTTINGHAM HUCKNALL (210) 0115 963 8825 UNIT 4 CHRISTOPHER COURT HUCKNALL NG15 6EP PRESTIGE - ROMANS TYRES & EXHAUST LTD 01664 503467 11 STONEHILL HUNTINGDON PE29 6ED HALFORDS KETTERING (005) 01536 410421 TRAFALGAR ROAD KETTERING NN16 8DB PRESTIGE - SIGNATURE
    [Show full text]
  • GRI INDEX 2019 SMARTER CARGO FLOW for a BETTER EVERYDAY SUSTAINABILITY ACCOUNTING PRINCIPLES GRI Index 2019
    GRI INDEX 2019 SMARTER CARGO FLOW FOR A BETTER EVERYDAY SUSTAINABILITY ACCOUNTING PRINCIPLES GRI index 2019 SUSTAINABILITY ACCOUNTING PRINCIPLES AND REPORTING BOUNDARY AND REPORTING BOUNDARY Cargotec sustainability reporting consists of three documents, the GRI Index 2019, the According to Cargotec’s sustainability accounting principles, newly acquired or built sites GRI CONTENT INDEX Annual Review 2019 and the Financial Review 2019. The information presented in the are being consolidated in the environmental and safety figures after a reasonable period GRI 102 General disclosure Annual Review is a general description of our sustainability work and the operating context of time has passed since the implementation of the Environment, Health and Safety (EHS) throughout the year. It shows the highlights of our sustainability performance, a current management practice. In most cases, this is completed after the first full operational year GRI 103 Management approach status of our targets and future plans. The Financial Review includes our disclosure on non- and after they have gone through the external assurance process. Divested sites are financial issues. included in the reporting boundary until the date of closing the transaction. However, this GRI 200 Economic only applies to sites that have been part of the Group for at least six months. GRI 300 Environmental This GRI Index is published as a separate report on our website. Following the GRI reporting requirements, this report presents the sustainability information in a standardised way and Topic boundaries for the material topics are presented under 102-47 to clarify the topics GRI 400 Social focuses on the disclosures that best reflect our impacts on the topics.
    [Show full text]
  • 100 Largest Companies in Fi
    100 largest companies in Finland http://www.uranus.fi/en/jobseekers/jobs/open.php?id=19982 >> Advertise here Uranus.fi - avoimet työpaikat Login / register 17:44 - Pakkoruotsi: Lipponen murahtaa på svenska ?jupeille? suomeksi 13:36 - ?120 km/h pois Turuntieltä ? tilalle 80 Frontpage km/h? Jobseekers 13:13 - Laaja huijaus Habbo Hotellissa Employers Jobseekers (Profiles)Post a jobServices and prices 11:18 - Julmista Opportunities metsästysrikoksista Working in FinlandStudying in FinlandLaunching a businessLiving in FinlandSuccess stories linnaa? Uranus.fi 11:01 - Suomeen uusi About usContact infoFeedback suuri kaupunki? - My Uranus Isompi kuin Turku Main pageCareer profilePluto -job notifierUser infoLogin Discussion 10:53 - Jyrki Kataisen käytös ihmetyttää: ?Outo purkaus? Job vacanciesCreate a profile 10:31 - ?Kaksi uutta Jobseekers » Job vacancies » Announcement oppiainetta kouluun? E-mail to a friend 09:22 - IL: VR heitti Give feedback halvaantuneen vanhuksen ulos junasta 100 largest companies in Finland Here's a list of the 100 biggest Finnish companies (updated September 2008). In case you're wondering how to get a job from Finland, these leading companies might provide an answer! The company's business field or industry is indicated in brackets. The links point either at the career pages (in English) of the company or the main page of the English (some cases Finnish) site. Good luck! 1. Nokia (Electronics) 2. Stora Enso (Forest) 3. Neste Oil (Oil Trade) 4. UPM-Kymmene (Forest) 5. Kesko (Wholesale trade/ Daily goods) 6. SOK (Wholesale
    [Show full text]
  • Shareholdersl Meeting
    CORPORATE GOVERNANCE STATEMENT 2012 CORPORATE GOVERNANCE STATEMENT 2012 Cargotec’s governance and management are based on the of release from liability to the members of the Board of Finnish Limited Liability Companies Act and Securities Directors and to the President and CEO, the election of Markets Act, the company’s Articles of Association and and remuneration payable to the members of the Board the rules and guidelines of NASDAQ OMX Helsinki and auditor. The Shareholders’ Meeting also has the right Ltd. Cargotec complies with the Finnish Corpo rate to amend the Articles of Association, and make decisions Governance Code 2010, available on the Securities Market and authorise the Board of Directors to make decisions on Association’s website at www.cgfinland.fi/en, with the the acquisition of treasury shares, on share issues and on exception of recommendations 26, 29 and 32. Tapio option programmes. Hakakari, Vice Chairman of the Board, was a member of the Nomination and Compensation Committee also Notice of the Shareholders’ Meeting is published as a stock during his position as interim President and CEO as of 8 exchange release and on Cargotec’s website. This notice October 2012 (recommendations 29 and 32). Karri Kaitue, includes the agenda for the meeting, proposals made member of the Audit and Risk Management Committee, by the Board and the Board committees to the meeting worked as a consultant for the company in connection with and instructions regarding registration and attendance. the evaluation of listing MacGregor in Asia and was not The names of candidates for the Board of Directors independent of the company (recommendation 26).
    [Show full text]
  • Listing of BUSINESS LICENCES 3DJH 
    Listing of BUSINESS LICENCES 3DJH 1004001 BC LTD 1ST PRIORITY PROCESS SERVERS PHOTOSTUDIO. CA %&/7' 6735,25,7<352&(666(59,&(6/7' %,//0&',$50,' %86,1(661215(6,'(171$ '8152%,1'5.$0/2236%&96 0&*,//5'.$0/2236%&9&/ /,&(1&(7<3(6*(1(5$/08/7,75$'( 9 /,&(1&(7<3(6%86,1(666(59,&(6 5(6,'(17,$/ /,&(1&(7<3(6%86,1(666(59,&(6 SEASONS HEALTH THERAPIES 1013658 BC LTD 1ST STOP MUFFLER & BRAKE LTD 6($6216&2168/7,1**5283/7' %&/7' 67672308))/(5 %5$.(/7' 6(<028567.$0/2236%&9& +$33<9$/($9(.$0/2236%& /$5.638567.$0/2236%&9% * 9%+ 0 3+21( /,&(1&(7<3(6*(1(5$/08/7,75$'( /,&(1&(7<3(65(3$,56+23 /,&(1&(7<3(6%86,1(666(59,&(6 5(6,'(17,$/ $8720(&+(7& 'RUN CLUB' : BERRY CONSULTING 1031345 BC LTD 2 PERCENT REALTY EXCELLENCE LTD -2%(55< $'5,$1%(55< %&/7' 3(5&(175($/7<(;&(//(1&(/7' %5$<3/.$0/2236%&9%< *5$66/$1'6%/9'.$0/2236%& 9,&725,$67:.$0/2236%&9& 9%6 $ /,&(1&(7<3(6%86,1(666(59,&(6 /,&(1&(7<3(6%86,1(666(59,&(6 /,&(1&(7<3(65($/(67$7( 0658024 BC LTD ,1685$1&($*(176 1033194 B.C. LTD. %&/7' %&/7' 20 VIC MANAGEMENT INC %86,1(661215(6,'(171$ 7+67.$0/2236%&9%. 9,&0$1$*(0(17,1& /,&(1&(7<3(6*(1(5$/08/7,75$'( 5(6,'(17,$/ /,&(1&(7<3(6*(1(5$/08/7,75$'( 75$16&$1$'$+:<: 5(6,'(17,$/ .$0/2236%&96- 0811479 BC LTD.
    [Show full text]
  • 2021 Driver Survey Showcards
    44 BOROUGH ROAD, LONDON, SE1 0AJ WWW.GIPA.EU | TEL: 020 7232 0132 REGISTERED IN ENGLAND AND WALES NO 2941111 2021 DRIVER SURVEY SHOWCARDS SHOWCARD 1 – Q13 (PK1), 1. Alfa-Romeo 22. Lancia 42. Toyota 2. Audi 23. Land Rover 43. Triumph 3. Austin 24. Lexus 44. Vauxhall GM 4. Bentley 25. Lotus 45. Volkswagen 5. BMW 26. Mazda 46. Volvo 6. Chevrolet 27. Mercedes-Benz 47. Yugo 7. Chrysler 28. Mini 8. Citroen 29. Mitsubishi 99. Other makes: please 9. Dacia 30. Nissan specify:__________ 10. Daewoo 31. Peugeot 11. Daihatsu 32. Porsche 12. Datsun 33. Proton 13. Fiat 34. Renault 14. Ford 35. Rover 15. Honda 36. Saab 16. Hyundai 37. Seat 17. Isuzu 38. Skoda 18. Jaguar 39. Smart 19. Jeep 40. Subaru 20. Kia 41. Suzuki 21. Lada SHOWCARD 2, Q15/PK2 Alfa Romeo 82. S1 161. Lacetti 239. Abarth 319. Jazz 1. 145 83. S1 Sportback 162. Matiz 240. Barchetta 320. Legend 2. 146 84. S3 163. Orlando 241. Brava 321. Logo 3. 147 85. S3 Cabriolet 164. Silverroad 242. Bravo Other Fiat 322. NSX 4. 155 86. S3 Sportback 165. Spark 243. Cinquecento 323. Prelude 5. 156 87. S4 166. SSR 244. Coup 324. RX3 6. 159 88. S4 Cabriolet 167. Tacuma 245. Croma 325. S2000 7. 164 89. S5 168. Other Chevrolet 246. Dino 326. Shuttle 8. 166 90. S5 Cabriolet Chrysler 247. Doblò 327. SMX 9. 33 91. S5 Coupe 169. 300C 248. Fiorino 328. Stepwagan 10. 2000 92. S5 Sportback 170. Crossfire 249. Grande Punto 329. Stream 11. 4C 93. S6 171.
    [Show full text]
  • Introduction Resolution on the Merger
    PROPOSAL BY THE BOARD OF DIRECTORS FOR THE RESOLUTION ON THE MERGER Introduction Konecranes announced on 1 October 2020 the combination of Konecranes and Cargotec Corporation’s (“Cargotec”) business operations through a statutory absorption merger of Konecranes into Cargotec pursuant to the Finnish Companies Act (624/2006, as amended) (the “Finnish Companies Act”) whereby all assets and liabilities of Konecranes are transferred without a liquidation procedure to Cargotec (the “Merger”). As a consequence of the completion of the Merger, Konecranes will dissolve and automatically cease to exist as a separate legal entity. The shareholders of Konecranes will receive new shares in Cargotec as merger consideration in proportion to their existing shareholdings. The purpose of the Merger is to create a global leader in sustainable material flow, with numerous valuable customer-facing brands bolstering its position across all its businesses in industries, factories, ports, road and sea-cargo handling. The Merger is expected to be value- creating from geographical; product and services offering; employee; customer; and shareholder perspectives. The combined company is expected to leverage the strengths of both companies and the combination is expected to deliver benefits to all stakeholders. The combined company aims to be a leader in sustainable material flow through its vision based on decarbonisation, safety, productivity and efficiency as well as maximizing the lifetime value of the equipment and solutions of its customers. In order to complete the Merger, the Board of Directors of Konecranes proposes that the General Meeting would resolve on the statutory absorption merger of Konecranes into Cargotec, including the approval of the merger plan.
    [Show full text]
  • Proposed Composition for Yit Corporation's Board Of
    1(4) PROPOSED COMPOSITION FOR YIT CORPORATION’S BOARD OF DIRECTORS As Chairman Henrik Ehrnrooth, born 1954, M.Sc. (Forest economics), B.Sc. (Econ.), Chairman of the Board of Directors of Pöyry PLC Member of YIT’s Nomination and Rewards Committee since 2008. Not previously in YIT Corporation’s Board of Directors. Other positions of trust: Pöyry Plc Chairman of the Board of Directors 2003–, Vice Chairman of the Board of Directors 1997–2002, member of the Board of Directors 1997– Cargotec Corporation Vice Chairman of the Board of Directors 2005– Oy Forcit Ab member of the Board of Directors 2003– Otava Books and Magazines Group Ltd member of the Board of Directors 1988– Primary working experience: Pöyry Plc Chief Executive Officer 1995–1997 Pöyry Plc President and CEO 1986–1995 Pöyry Plc 1979– As Vice Chairman Eino Halonen, born 1949, M.Sc. (Econ.) Member of YIT’s Board of Directors since 2000 and Vice Chairman since 2003. Member of the Audit Committee since 2004 and the Nomination and Rewards Committee since 2008. Other positions of trust: Metsäliitto Osuuskunta member of the Board of Directors 2006– Cramo Oyj member of the Board of Directors 2003– Pohjola Bank member of the Board of Directors 2003– Primary working experience: Suomi Mutual Life Assurance Company Managing Director 2000– Pohjola Life Assurance Company Ltd Managing Director 1998–1999, Merita Nordbanken Executive Vice President, Regional Bank Manager 1998 Merita Bank Ltd Director and member of the Management Board 1996–1997 Kansallis-Osake-Pankki 1971–1995 2(4) As members Kim Gran, born 1954, B.Sc.
    [Show full text]
  • Annual Report 2010 Contents
    Annual report 2010 Contents 1 2010 highlights 2 Highlights of 2010 5 CEO’s message 7 Information for shareholders 9 On land and at sea 10 Cargotec in brief 11 Business review 2010 19 Customers 26 Solutions of the future 31 One company 32 Strategy at work 35 Cargotec and global trends 40 Sustainability 45 Personnel 58 UN Global Compact 59 Corporate governance 60 Corporate governance statement 71 CVs of Board members 75 CVs of Executive Board members 81 Remuneration statement 84 Risk management Cargotec’s annual report 2010 This page is generated from Cargotec’s online annual report. You can find the complete report at www.cargotec.com/annualreport 87 Financial statements 156 29. Employee benefits 158 30. Provisions 88 Board of Directors’ Report 159 31. Accounts payable and other non-interest-bearing liabilities 98 Consolidated financial statements 160 32. Commitments (IFRS) 161 33. Derivatives 99 Consolidated statement of income 162 34. Group as lessor and consolidated statement of 163 35. Related-party transactions comprehensive income 164 36. Subsidiaries 100 Consolidated statement of financial 168 37. Events after the balance sheet date position 169 Financial statements of the parent 102 Consolidated statement of changes in company (FAS) equity 170 Parent company income statement 103 Consolidated statement of cash flows 171 Parent company balance sheet 104 Notes to the consolidated financial 172 Parent company cash flow statement statements 173 Notes to the parent company 105 1. Accounting principles for the consolidated financial statements financial statements 113 2. Management estimates 174 1. Accounting principles for the parent company financial statements 115 3.
    [Show full text]