Financial results briefing - Uponor · • Building Solutions – Europe reported an increase of 10.0%, with just over half coming from the German acquisitions in January 2016, the

Financial results briefingJyri Luomakoski – President and CEO, Uponor CorporationRiitta Palomäki – CFO, Uponor Corporation

1–12 / 2016

© Uponor2 13 February 2017 Financial results briefing 1–12 / 2016

Net sales• Building Solutions – Europe reported an increase of 10.0%, with just over half coming from the German acquisitions in January

2016, the rest is organic • In Building Solutions – North America, net sales growth decreased, as y-o-y growth of the market was stabilising in 2nd half 2016.

Growth was also curbed by volatility in sales originating in the plastic fittings resin shortage that began in late 2015.• Uponor Infra’s net sales picked up in northern Europe, but subdued markets elsewhere influenced in a negative way

Operating profit• Building Solutions – Europe’s reported operating profit declined as a result of the transformation programme. Comparable operating

profit grew by 40.4%• Building Solutions – North America’s profitability remained strong, despite issues related to managing the fittings resin shortage• Uponor Infra reported weakening performance vs the strong Q4/2015, mainly due to weak Eastern Europe and North America

Q4/2016: Satisfactory progress but no growth vs the strong comparison periodOctober - December, M€ 10-12/2015

10-12/2016 Change

OP margin

Net sales 262.0 268.9 2.6%

Operating profit 14.0 7.5 -46.5% 2.8%

Comparable operating profit 16.5 16.1 -2.3% 6.0%

© Uponor3 13 February 2017 Financial results briefing 1–12 / 2016

Net sales• Building Solutions – Europe’s net sales +9.4%, driven by acquisitions and demand pick up in much of Europe • Building Solutions – North America’s net sales +10.7% (local curr), the first half of the year more robust than the second;

challenges from plastic fittings resin supply that started at the end of 2015• Uponor Infra’s net sales –7.7% due to weak development in Poland and America, despite increasing demand in northern Europe

Operating profit• Building Solutions – Europe reported an improvement as a result of higher net sales and lower expenditure enabled by savings

from the transformation programme• Building Solutions – North America’s profit margin did not quite reach the strong comparison figure in 2015, mainly due to extra

costs associated with managing the shortage of a key resin for plastic fittings• Uponor Infra reported a decline but comparable operating profit improved clearly; the segment benefited from stable resin prices

1-12/2016: Improving comparable operating profit supported by transformation; small organic growthJanuary - December, M€ 1-12/2015

1-12/2016 Change

OP margin

Net sales 1,050.8 1,099.4 4.6% Operating profit 71.4 71.0 -0.7% 6.5%Comparable operating profit 75.8 90.7 19.7% 8.2%

© Uponor4

Developments by segment: Building Solutions – Europe• Net sales in local currency grew in 9/10 largest countries

reflecting the budding recovery in Europe– In Germany, growth was from acquisitions as well as

successes achieved in project business– Within the Nordic countries, the boom continued in Sweden,

and also Finland trended well

• The transformation programme initiated in Q4/2015 was almost completed, final measures scheduled for completion during Q1/2017– A total of 10 offices closed (one moved) during 2016– Net reduction in head count at 164 (target 250)– Concentration of European PEX pipe production almost

finalised• New setup with stronger and leaner management structure

close to growth centres, and efficient manufacturing network

• New factory in Asia operational, with China now ranking in top 10 in terms of personnel by country

13 February 2017 Financial results briefing 1–12 / 2016

© Uponor5

Developments by segment: Building Solutions – North America• The year 2016 was twofold, with solid growth continuing in

the first half, and growth stabilising in the 2nd half, reflecting general building and construction market trends

• Challenges were posed by plastic fittings resin supply and its careful management; returned to full supply by year-end

• Overall, Uponor’s PEX plumbing offering sales grew well in 2016 in the U.S. and in Canada

Recent capacity expansion ‘up and running’ after the new manufacturing building was taken into use in 2016


© Uponor6

Developments by segment: Uponor Infra• Modest increase in infrastructure solutions demand in

northern Europe, while weak market development persisted in Eastern Europe (Poland) and North America

• Benefits from the earlier streamlining programmes in the Nordic countries achieved as expected

• Transformation programme in Europe and the cost reduction programme started in Canada in the fourth quarter 2016 were completed in Q1/2017– Production centralised in Finland and Denmark– In total, 75 jobs were reduced as part of the

transformation programme during 2016

• In stark contrast to 2015, the resin price development in 2016 was rather stable, contributing to a more stable input cost environment and gross profit


© Uponor7

Investment in R&D and technology

• In 2016, Uponor’s R&D expenditure exceeded €20 million for the first time

– New Group Technology function – Investment in digitalisation initiatives– New product, application and materials

development

• Strategic focus on hygiene, safety and sustainability

– UWater online monitoring – Dec 2015– KaMo/Delta fresh water stations - Jan 2016– Joint venture Phyn with Belkin to pioneer in

intelligent water - July 2016


Phyn Smatrix Aqua PLUS

Aqua & Combi Port

Ecoflex Thermo PRO

UWater Uponor Decibel

© Uponor8

People and planet in focus

• Renewed leadership development portfolio: in 2016, ca 100 employees participated

• Transition management training for 150 leaders across Europe

• Reduced GHG emissions in operations and improved CDP Climate Change ranking

• 10 out of 14 sites are certified by ISO 14001 environmental management system

• 6 are certified by ISO 50001 energy management system, with a rollout to all Uponor production sites planned by 2020


0

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8 000

12 000

16 000

20 000

24 000

0

200

400

600

800

1000

1200

2009 2010 2011 2012 2013 2014 2015 2016

Net sales, M€ GHG emissions, t CO2 (Scope 1) (rhs)

© Uponor9

Throughout the world, our solutions enrich people’s way of life


First renovation project involving radiant ceiling

cooling in tropical climate: Seng Choon Office Building,

Singapore

Water supply in demanding terrain: Glomfjord, Norway

Restoring old-world charm to an iconic hotel: The Cavalier

Hotel, Virginia, USA

Radiant heating and cooling in European Central Bank:

Frankfurt, Germany

Water supply in extreme weather conditions: Gabriel de

Castilla research station, Antarctica

Securing safe transportation of waste water: Borås, Sweden

Radiant heating and cooling in an underground women’s

university: Seoul, South Korea

Ice-free pavement throughout the year: Lahti, Finland

Financial statementsRiitta Palomäki – CFO, Uponor Corporation

1–12 / 2016

© Uponor11

January-December 2016Key figures


1-12 1-12 Change2015 2016 Y/Y

Net sales M€ 1,050.8 1,099.4 +4.6%

Operating profit M€ 71.4 71.0 -0.7%

Comparable operating profit M€ 75.8 90.7 +19.7%

Comparable operating profit margin % 7.2% 8.2% 1.0% pts

Earnings per share (diluted) € 0.51 0.58 +13.7%

Return on equity (p.a.) % 12.1% 13.1% 1.0% pts

Return on investment (p.a.) % 15.5% 14.1% -1.4% pts

Net interest bearing liabilities M€ 91.3 159.5 +74.7%

Gearing % 29.3% 48.8% +19.5% pts

Net working capital of Net sales (p.a.) % 8.1% 10.2% +2.1% pts

Number of employees, end of period FTE 3,735 3,868 +3.6%

Uponor Group, continuing operations

© Uponor12

October-December 2016Income statement


• Net sales growth flat in organic terms

• Comparable gross profit marginat 34.1% (35.0)%. All segments reported a small drop

• Comparable operating profit at €16.1m, 6.0% (Q4/2015: €16.5m, 6.3%)

10-12 10-12 Change2015 2016 Y/Y

Net sales 262.0 268.9 +2.6%

Cost of goods sold 170.6 183.0 +7.3%

Gross profit 91.4 85.9 -6.0%

Gross profit margin (%) 34.9% 31.9% -2.9% pts

Other operating income 1.5 1.8 +25.0%

Expenses 78.9 80.2 +1.7%

Operating profit 14.0 7.5 -46.5%

Operating profit margin (%) 5.3% 2.8% -2.6% pts

Financial expenses, net 3.2 2.8 -11.7%

Share of result in associated companies 0.1 -0.8 -868.2%

Profit before taxes 10.9 3.9 -63.8%

Profit for the period 4.4 5.9 +32.6%

EBITDA 25.8 17.5 -32.1%

Continuing operations, M€

Top 10 countries YTD Q314

fmcluster_FIREXCustom1#IFRSScenario#ACTScenario#ACTScenario#ACT

View#YTDCustom3#[None]Year#2012Year#2013Year#201410 biggest COUNTRIES

Entity#8010Custom4#[None]Period#SepPeriod#SepPeriod#Sep

Value#EUR totalNET SALES - not including all countries

Account#N30699

ICP#[ICP None]Jan-Sep 2012Jan-Sep 2013Jan-Sep 2014Jan-Sep 2012Jan-Sep 2013Jan-Sep 2014Jan-Sep 2012Jan-Sep 2013Jan-Sep 2014of totalChange %

USAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

GermanyERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#FIERROR:#NAME?Finland ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XFinlandERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?FinlandERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#SEERROR:#NAME?Sweden ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XScandinaviaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?SwedenERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#NOERROR:#NAME?Norway ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XCanadaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#DKERROR:#NAME?Denmark ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XDenmarkERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#DEERROR:#NAME?Germany ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XGermanyERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?UKERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#UKERROR:#NAME?United KingdomERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XUK/IrelandERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?NorwayERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#IEERROR:#NAME?Ireland ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XNetherlandsERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#FRERROR:#NAME?France ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XOther EUERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?RussiaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#BEERROR:#NAME?Belgium ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XOthersERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#NLERROR:#NAME?Netherlands ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XTotal GroupERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#ATERROR:#NAME?Austria ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?X

Custom2#CHERROR:#NAME?Switzerland ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#ITERROR:#NAME?Italy ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?X

Custom2#ESERROR:#NAME?Spain ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?X

Custom2#PTERROR:#NAME?Portugal ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?X

Custom2#PLERROR:#NAME?Poland ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XOther countriesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#HUERROR:#NAME?Hungary ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?X

Custom2#CZERROR:#NAME?Czech ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?X

Custom2#SKERROR:#NAME?Slovakia ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?X

Baltic countries ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?X

Custom2#RUERROR:#NAME?Russia ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#SIERROR:#NAME?SloveniaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?X

East Europe othersERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#USERROR:#NAME?USA ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?North AmericaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#CAERROR:#NAME?Canada ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

South America ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Middle East ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Far East ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Other countries ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#COUNTRIESERROR:#NAME?All countries ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?Tot checkERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

EU totalERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ICP#[ICP Top]ERROR:#NAME?check

ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?Custom3#PRODTOT

Custom2#EEERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äAccount#30699

Custom2#LTERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äCustom2#Functionsttl

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Custom2#AEERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#AMERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#ANERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#AUERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

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Custom2#HRERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#HKHong KongERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#INERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#IRERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#ISERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#JOERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#JPERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#LUERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#MTERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#MXERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äGrowth

Custom2#MYERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä% in EUR+24.0+0.2+15.9+12.0+60.8+28.4+34.7-3.1+8.1+10.0+10.8

Custom2#NZERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä% in Curr.+26.8+17.9+75.6+28.4+27.6+3.7+27.0

Custom2#PKPakistanERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#QAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äSales converted to local currency

Custom2#ROERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä2014201320142013Chg, %

Custom2#RSERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äAverage rates -Sep 2014Average rates - Sep 2013LCLC

Custom2#SAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äCAD1.4802CAD1.35486CanadaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#SGERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äCZK27.4954CZK25.753

Custom2#SYERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äCNY8.3325CNY8.12487

Custom2#TRERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äCHF1.2158CHF1.22867

Custom2#UAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äDKK7.4584DKK7.45722DenmarkERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#ZAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äGBP0.8088GBP0.85381UKERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#LBERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äHUF309.9089HUF298.01889

Custom2#IDERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äLTL3.4528LTL3.4528

Custom2#EGERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äLVL0.7019LVL0.7016

Custom2#KWERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äNOK8.2811NOK7.73444NorwayERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#KRERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äPLN4.1836PLN4.22474

Custom2#BAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äRON4.4372RON4.40377

Custom2#CLERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äRUB48.4057RUB41.90956RussiaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#LIERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äSEK9.0579SEK8.60644SwedenERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#BGERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äUSD1.3487USD1.31841USAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#GEERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äTHB43.7911THB40.18667

Custom2#MKERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äBe careful with the currency rate!

Custom2#OMERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#ETERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#NGERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

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Custom2#GIERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#SRERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#ARERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#FOERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#MEERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#LYERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#AOERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#COERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#TNERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#GHERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#PHERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#BRERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#UGERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#GLERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

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Custom2#THERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#ALERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#KHERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#MMERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#BDERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#AXERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#TZERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#MAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#YEERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#VNERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#LAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

HungaryNSCO515NSCO515NSCO5158318

CzechNSCO545NSCO545NSCO5455055

SlovakiaNSCO575NSCO575NSCO575686

Baltic countriesNSCO605NSCO605NSCO60511822

RussiaNSCO635NSCO635NSCO6357640

Other CIS countriesNSCO665NSCO665NSCO665633

Other European countr - ExternNSCO695NSCO695NSCO6959219

USANSCO725NSCO725NSCO725251979

CanadaNSCO755NSCO755NSCO75518707

South AmericaNSCO785NSCO785NSCO7853485

Middle EastNSCO815NSCO815NSCO81510868

Far EastNSCO845NSCO845NSCO8456185

Other countriesNSCO875NSCO875NSCO8754234

All countriesNSCO905NSCO905NSCO9051137202

&"Verdana,Regular"&8&F, &A&"Verdana,Regular"&8Printout on &D at &T

Scandinavia16,9%

Other countries4,9%

Jan-Sep 2012

USAGermanyFinlandSwedenCanadaDenmarkUKNorwayNetherlandsRussiaOthers00000000000Jan-Sep 2013


USAGermanyFinlandSwedenCanadaDenmarkUKNorwayNetherlandsRussiaOthers00000000000

-9.1% in EUR-4.1% in NOK

- 9.3%

Key Figures

Jatkuvat toiminnotUponor Group, continuing operations1-121-12Change1-12

20152016Y/Y2015fmcluster_FIREX

LiikevaihtoNet salesM€ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?1,050.8Scenario#Act

LiikevoittoOperating profitM€ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?71.4Entity#8010

Vertailukelpoinen liikevoittoComparable operating profitM€ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?75.8View#YTD

Vertailukelpoinen liikevoitto %Comparable operating profit margin%ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?pts7.2%ICP#[ICP Top]

Laimennettu osakekohtainen tulos, €Earnings per share (diluted)€0.510.58+13.7%0.51Custom1#IFRS

Oman pääoman tuotto, % (p.a.)Return on equity (p.a.)%12.1%13.1%1.0%pts12.1%Custom2#FUNCTIONSTTLYear#2016Year#2015Year#2015

Sijoitetun pääoman tuotto, % (p.a.)Return on investment (p.a.)%15.5%14.1%-1.4%pts15.5%Custom3#PRODTOTPeriod#DecPeriod#DecPeriod#Dec

Korolliset nettovelatNet interest bearing liabilitiesM€91.3159.5+74.7%91.3Value#EUR Total

Velkaantumisaste, %Gearing%29.3%48.8%+19.5%pts29.3%ERROR:#NAME?

Nettokäyttöpääoma / Liikevaihto, % (p.a.)Net working capital of Net sales (p.a.)%ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ptsERROR:#NAME?Account#KF_NWC_NSERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Henkilöstö 31.12.Number of employees, end of periodFTE3,7353,868+3.6%3,735

&"Univers,Bold"&12Uponor Group JL &d

&6&F.&APage &P of &N&6Printout at &D &T

Income statement

Current year:2016fmcluster_FIREXEntity#8010ERROR:#NAME?

Last year:2015Scenario#ACTEntity#9870ERROR:#NAME?

View#YTDEntity#1000SGERROR:#NAME?

Period:DecValue#

Last quarter:SepICP#[ICP Top]

Custom1#IFRS

Custom2#FUNCTIONSTTL

Custom3#PRODTOT

Custom4#[None]

YTD

1-121-12

Continuing operations, M€1-121-12Change1-12Year#2015Year#2016Year#2015Year#2016

20152016Y/Y2015Period#DecPeriod#DecPeriod#SepPeriod#Sep

Account#30699Net salesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?1,050.8ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

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Account#33399Gross profitERROR:#NAME?ERROR:#NAME?ERROR:#NAME?370.2ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Gross profit margin (%)ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?pts35.2%

Account#44099Other operating incomeERROR:#NAME?ERROR:#NAME?ERROR:#NAME?2.4ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

ExpensesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?301.2ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Account#49999Operating profitERROR:#NAME?ERROR:#NAME?ERROR:#NAME?71.4ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Account#50999Operating profit margin (%)ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?pts6.8%4,321.0019,724.001,803.0011,087.00IAC

Account#51899Financial expenses, netERROR:#NAME?ERROR:#NAME?ERROR:#NAME?8.9ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Account#61000Share of result in associated companiesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?0.3ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

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Account#89999Profit for the periodERROR:#NAME?ERROR:#NAME?ERROR:#NAME?37.1ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?Depreciation and impairment

Account#51999EBITDAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?110.5ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?Year#2015Year#2016Year#2015Year#2016

Period#DecPeriod#DecPeriod#SepPeriod#Sep

DepreciationERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?Account#33290ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

QuarterAccount#33291ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

10-1210-12Account#33292ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Account#33395ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?


Continuing operations, M€10-1210-12Change1-12Account#33490ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

20152016Y/Y201510-12/201510-12/2016Account#33491ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Net salesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?1,050.8ERROR:#NAME?ERROR:#NAME?Account#33590ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

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Gross profitERROR:#NAME?ERROR:#NAME?ERROR:#NAME?370.2ERROR:#NAME?ERROR:#NAME?Account#33690ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Gross profit margin (%)ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?pts35.2%Account#33691ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Other operating incomeERROR:#NAME?ERROR:#NAME?ERROR:#NAME?2.4ERROR:#NAME?ERROR:#NAME?Account#33695ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

ExpensesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?301.2ERROR:#NAME?ERROR:#NAME?Account#33696ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Operating profitERROR:#NAME?ERROR:#NAME?ERROR:#NAME?71.4ERROR:#NAME?ERROR:#NAME?Account#33790ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Operating profit margin (%)ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?pts6.8%Account#45020ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Financial expenses, netERROR:#NAME?ERROR:#NAME?ERROR:#NAME?8.9ERROR:#NAME?ERROR:#NAME?Account#33791ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Share of result in associated companiesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?0.3ERROR:#NAME?ERROR:#NAME?Account#33792ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Profit before taxesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?62.8ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Profit for the periodERROR:#NAME?ERROR:#NAME?ERROR:#NAME?37.1ERROR:#NAME?ERROR:#NAME?

EBITDAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?110.5ERROR:#NAME?ERROR:#NAME?



NS & OP Graph

GRAPH DATA - Net salesGRAPH DATA - Operating profit

Building Solutions - EuropeBuilding Solutions - North AmericaUponor InfraBuilding Solutions - EuropeBuilding Solutions - North AmericaUponor Infra

1-12 2015467.1275.8312.01-12 201527.651.00.9

1-12 2016511.0305.6287.91-12 201638.050.06.4

Currency: M€

Net salesComparable operating profit

&"Verdana,Regular"&8Printed on &D at &T

1-12 2015

Building Solutions - EuropeBuilding Solutions - North AmericaUponor Infra467.1275.83121-12 2016

Building Solutions - EuropeBuilding Solutions - North AmericaUponor Infra511305.60000000000002287.89999999999998

1-12 2015


Building Solutions - EuropeBuilding Solutions - North AmericaUponor Infra38506.4

Balance Sheet

fmcluster_FIREX

Scenario#ACT

View#YTD

Value#

Entity#1000SG

ICP#[ICP Top]

Custom1#IFRS


Custom3#PRODTOT

PeriodDecCustom4#[None]

Period#Dec

M€31 Dec31 DecChange31 Dec

20152016Y/Y2015Year#2016Year#2015

Account#11999Property, plant and equipmentERROR:#NAME?ERROR:#NAME?ERROR:#NAME?221.4ERROR:#NAME?ERROR:#NAME?

Account#10999Intangible assetsERROR:#NAME?ERROR:#NAME?ERROR:#NAME?94.7UBS:ERROR:#NAME?ERROR:#NAME?

Account#12989Securities and long-term investmentsERROR:#NAME?ERROR:#NAME?ERROR:#NAME?21.09.6ERROR:#NAME?ERROR:#NAME?

Account#13999InventoriesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?112.4ERROR:#NAME?ERROR:#NAME?

Account#17999Cash and cash equivalents *ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#REF!UBS:ERROR:#NAME?ERROR:#NAME?

Other current and non-current assetsERROR:#NAME?ERROR:#NAME?ERROR:#NAME?209.1-9.6ERROR:#NAME?ERROR:#NAME?

Account#21999Account#22000Total equityERROR:#NAME?ERROR:#NAME?ERROR:#NAME?311.7ERROR:#NAME?ERROR:#NAME?

Account#25499Account#25750Non-current interest-bearing liabilitiesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?91.2ERROR:#NAME?ERROR:#NAME?

Account#27099Account#25099ProvisionsERROR:#NAME?ERROR:#NAME?ERROR:#NAME?25.0ERROR:#NAME?ERROR:#NAME?

Non-interest-bearing liabilitiesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?231.6ERROR:#NAME?ERROR:#NAME?

Account#28779Account#27400Account#27999Current interest-bearing liabilitiesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?48.3ERROR:#NAME?ERROR:#NAME?

Account#29999Balance sheet totalERROR:#NAME?ERROR:#NAME?ERROR:#NAME?707.8ERROR:#NAME?ERROR:#NAME?

* In 2015, cash and cash equivalents include €1.0 million restricted cash

Check - Net Interest Bearing LiabilitiesERROR:#NAME?ERROR:#NAME?96.91.0

ERROR:#NAME?ERROR:#NAME?

MEUR30.9.30.9.Muutos31.12.

201620152015

Aineelliset käyttöomaisuushyödykkeetERROR:#NAME?ERROR:#NAME?ERROR:#NAME?221.4

Aineettomat hyödykkeetERROR:#NAME?ERROR:#NAME?ERROR:#NAME?94.7

Arvopaperit ja pitkäaikaiset sijoituksetERROR:#NAME?ERROR:#NAME?ERROR:#NAME?21.0

Vaihto-omaisuusERROR:#NAME?ERROR:#NAME?ERROR:#NAME?112.4

Rahat ja pankkisaamisetERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#REF!

Muut lyhyt- ja pitkäaikaiset varatERROR:#NAME?ERROR:#NAME?ERROR:#NAME?209.1

Oma pääomaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?311.7

Pitkäaikaiset korolliset velatERROR:#NAME?ERROR:#NAME?ERROR:#NAME?91.2

VarauksetERROR:#NAME?ERROR:#NAME?ERROR:#NAME?25.0

Korottomat velatERROR:#NAME?ERROR:#NAME?ERROR:#NAME?231.6

Lyhytaikaiset korolliset velatERROR:#NAME?ERROR:#NAME?ERROR:#NAME?48.3

Tase yhteensäERROR:#NAME?ERROR:#NAME?ERROR:#NAME?707.8



Cash Flow

M€1-121-12Change1-12

20152016Y/Y2015

Net cash from operations+105.6+105.3-0.3+105.6

Change in NWC-15.0-16.6-1.6-15.0

Net payment of income tax and interest-32.4-28.8+3.6-32.4

Cash flow from operations+58.2+59.9+1.7+58.2

Cash flow from investments-41.7-91.8-50.1-41.7

Cash flow before financing+16.5-31.9-48.4+16.5

Dividends and buy backs-30.7-32.2-1.5-30.7

Other financing+2.3+32.0+29.7+2.3

Cash flow from financing-28.4-0.2+28.2-28.4

Conversion differences-0.1+0.2+0.3-0.1

Change in cash and cash equivalents-12.0-31.9-19.9-12.0

M€1-121-12Muutos

20162015

Tulorahoitus105.3105.6-0.3

Käyttöpääoman muutos-16.6-15.0-1.6

Maksetut/saadut verot ja korot-28.8-32.4+3.6

Liiketoiminnan rahavirta59.958.2+1.7

Investointien rahavirta-91.8-41.7-50.1

Rahavirta ennen rahoitusta-31.916.5-48.4

Osingot ja omien osakkeiden osto-32.2-30.7-1.5

Muu rahoitus+32.0+2.3+29.7

Rahoituksen rahavirta-0.2-28.4+28.2

Rahavarojen muutos-32.1-11.9-20.2

Capital structure

FIM

19953212

19962616

19972196

19982123

19992525

Korolliset nettovelat, MEUR (lhs)Gearing vuoden lopussa, % (rhs)

Net interest bearing liabilities, M€ (lhs)Gearing at year end, % (rhs)Avg gearing across quarters, % (rhs)

FAS1995540.2172%

FAS1996440.089%

FAS1997369.385%

FAS1998357.184%

FAS2000310.757%

FAS2001282.853%

FAS2002163.930%

FAS200384.018%

IFRS200433.69%

IFRS2005-26.9-6%

IFRS200621.76%5%

IFRS200784.525%44%

IFRS200860.620%46%

IFRS200964.625%45%

IFRS201066.827%46%

IFRS201183.939%56%

IFRS201294.145%65%

IFRS201396.934%58%

IFRS201482.028%46%

IFRS201591.329%40%

IFRS2016159.549%57%

Omavaraisuusaste, % (rhs)

Solvency, % (rhs)

19950.329

19960.376

19970.401

19980.399

20000.483

20010.498

20020.589

20030.598

20040.577

20050.632

20060.536

20070.502

20080.514

20090.518

20100.508

20110.412

20120.415

20130.439

20140.439

20150.443

20160.428

Net interest bearing liabilities, M€ (lhs)201020112012201320142015201666.883.994.196.98291.3159.49999999999997Gearing at year end, % (rhs)20102011201220132014201520160.265000000000000010.393000000000000020.454000000000000010.337000000000000020.276000000000000020.292999999999999980.48799999999999999Avg gearing across quarters, % (rhs)20102011201220132014201520160.460.557500000000000110.650.578999999999999960.458000000000000020.404000000000000030.56699999999999995Solvency, % (rhs)20102011201220132014201520160.508000000000000010.411999999999999980.414999999999999980.4390.4390.4430.42799999999999999

*) Sisältää 24,6 MEUR lopetettujen toimintojen voittoja**) Sisältää 42,4 MEUR lopetettujen toimintojen voittoja

Dividends and payout ratio

Osinko, M€ (lhs)Osinko % osakekoht. tuloksesta (rhs)

Total dividend M€ (lhs)Payout as % of EPS (rhs)FIM

199611.971

199717.825.2 %106

199822.753.8 %135

199925.942.3 %154EPSDividend/share

200030.646.0 %0.870.40

200129.972.1 %0.580.40

200255.587.2 %0.860.75

2003106.90.021.44

200452.058.8 %1.190.70

2005166.0202.7 %1.122.27

2006102.5106.1 %1.321.40

2007102.5100.7 %1.391.40

200862.185.9 %0.990.85

200936.6312.5 %0.160.50

201040.2161.8 %0.340.55

201125.50.030.35

201227.884.4 %0.450.38

201327.8100.0 %0.380.38

201430.784.0 %0.500.42

201532.186.3 %0.510.44

201633.679.3 %0.580.46

Total dividend M€ (lhs)2012201320142015201627.7627.76529508000000130.6879577232.14928903999999933.643473100000001Payout as % of EPS (rhs)201220132014201520160.8444444444444444410.840.862745098039215730.79310344827586221

AGM IS

Last year

Connectionfmcluster_FIREX

ScenarioACT

ViewYTDScenario#ACT

ValueView#YTD

Entity8010EntityValue#

Year2015Year#2014Entity#1000sgEntity#8010Entity#9870

ICP[ICP Top]ICP#[ICP none]Year#2015Year#2014Year#2014Year#2014Year#2013

Custom1IFRSICP#[ICP Top]

Custom2c2topCustom1#IFRS

Custom3[None]Custom2#FUNCTIONSTTL

Custom4[None]Custom3#PRODTOT

AccountCustom4#[None]

PerioddecERROR:#REF!

Period#decPeriod#DecPeriod#DecPeriod#SepPeriod#Sep

M€Full figures

20142015Muutos %20152014201420142013

30699Account#30699LiikevaihtoERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Hankinnan ja valmistuksen kulutERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

33399Account#33399BruttokateERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

44099Account#44099Liiketoiminnan muut tuototERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Kiinteät kulutERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

49999Account#49999LiikevoittoERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

50999Account#50999

51899Account#51899Rahoitustuotot ja -kulutERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

61000Account#61000Osuus osakkuusyritysten tuloksestaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

VerotERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

89999Account#89999Tilikauden voittoERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

51999Account#51999ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Check with OPERROR:#NAME?

Depreciation36.533.036,45832,96632,96626,95923,918

MEUR0

2015

Jatkuvat toiminnot

LiikevaihtoERROR:#NAME?

Hankinnan ja valmistuksen kulutERROR:#NAME?

BruttokateERROR:#NAME?

- % liikevaihdostaERROR:#REF!

Liiketoiminnan muut tuototERROR:#NAME?

KulutERROR:#NAME?

LiikevoittoERROR:#NAME?


Rahoituskulut, nettoERROR:#NAME?

Tulos ennen verojaERROR:#REF!

Kauden tulosERROR:#NAME?

EBITDA0.0

Excluding OTC

MEUR1-12

2008

Continuing operations

Net sales949.2949,199

Cost of goods sold604.8604,797

-excluding expenses related to cost reduction programme2.72,652

-excluding scrapping of inventory47004700

Gross profit excluding one time costs344.4344,402

- % of net salesERROR:#DIV/0!

Other operating income1.41,450

Expenses 272.9272,878

- excluding US provision14.514,530

- excluding expenses related to cost reduction programme4.64,622

Operating profit excluding one time costs72.972,974


Operating profit51.251,170

- % of net salesERROR:#NAME?

Financial expenses, net10.210,202

Profit before taxes41.040,968

Profit for the period30.130,070

EBITDA0.051,170



AGM Balance Sheet

Last year


ScenarioACT

ViewYTDScenario#ACT

ValueView#YTD


Year2015Year#Entity#1000sgEntity#8010Entity#9870

ICP[ICP Top]ICP#[ICP none]Year#2015Year#Year#2014Year#2014






PeriodDecPeriod#

Period#Dec

66536.5654413593

M€31 Dec

20142015Muutos %201320152014

12999Account#12999Pitkäaikaiset varatERROR:#NAME?ERROR:#NAME?ERROR:#NAME?201.8ERROR:#NAME?ERROR:#NAME?

19999Account#19999Lyhytaikaiset varatERROR:#NAME?ERROR:#NAME?ERROR:#NAME?102.8ERROR:#NAME?ERROR:#NAME?

19999Account#19999Varat yhteensäERROR:#NAME?ERROR:#NAME?ERROR:#NAME?10.8ERROR:#NAME?ERROR:#NAME?

20000Account#20000OsakepääomaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?53.7ERROR:#NAME?ERROR:#NAME?

Muu oma pääomaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?176.5ERROR:#NAME?ERROR:#NAME?

22000Account#22000Määräysvallattomien omistajien osuusERROR:#NAME?ERROR:#NAME?ERROR:#NAME?287.7ERROR:#NAME?ERROR:#NAME?

22099Account#22099Oma pääoma yhteensäERROR:#NAME?ERROR:#NAME?ERROR:#NAME?136.4ERROR:#NAME?ERROR:#NAME?

26999Account#26999Pitkäaikaiset velatERROR:#NAME?ERROR:#NAME?ERROR:#NAME?22.1ERROR:#NAME?ERROR:#NAME?

28999Account#28999Lyhytaikaiset velatERROR:#NAME?ERROR:#NAME?ERROR:#NAME?200.6ERROR:#NAME?ERROR:#NAME?

274002799928779Account#28779Account#27400Account#27999Velat yhteensäERROR:#NAME?ERROR:#NAME?ERROR:#NAME?14.2ERROR:#NAME?ERROR:#NAME?

29999Account#29999Oma pääoma ja velat yhteensäERROR:#NAME?ERROR:#NAME?ERROR:#NAME?661.0ERROR:#NAME?ERROR:#NAME?

Check - Net Interest Bearing LiabilitiesERROR:#NAME?ERROR:#NAME?96.9

MEUR30.9.30.9.Muutos31.12.

201520142013




Vaihto-omaisuus0.00.0+0.00.0

Rahat ja pankkisaamisetERROR:#NAME?ERROR:#NAME?ERROR:#NAME?53.7










AGM NS ja OP kehitys

Connectionfmcluster_Firex

ScenarioActScenario#Act

ViewYTDView#YTD

ValueEURValue#EUR

Entity1000sgEntity#1000sg

Year2006200720082009201020112012201320142015

ICP[ICP Top]ICP#[ICP Top]#2006#2007Year#2008Year#2009Year#2010Year#2011Year#2012Year#2013Year#2014Year#2015

Custom1IFRSCustom1#IFRS

Custom2functionsttlCustom2#functionsttl

Custom3prodtotCustom3#prodtot

Custom4[None]Custom4#[None]

Account30699Account#30699

PeriodDecPeriod#Dec06070809101112131415

Account49999Account#49999Liikevaihto1003.71047.4949.2ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Liikevoitto (oik.)132.9135.7451.241.252.4ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

M€M€

28%

Liikevaihto060708091011121314151003.71047.4000000000001949.20000000Liikevoitto (oik.)132.9135.7451.241.252.400000

AGM OPO ja tuoton kehitys (2)



ViewYTDView#YTD

ValueEURValue#EUR


Year2006200720082009201020112012201320142015








Account49999Account#49999Oma pääoma344.4333305.6258252.1209.2207.3219.7231.1248

ROE25.3030.1022.704.109.700.7015.7010.8012.3012.10

M€ %

* emoyhtiön omistajille kuuluva pääoma

28%

Oma pääoma06070809101112131415344.4333305.60000000000002258252.1209.2207.3219.7231.1248ROE25.330.09999999999999822.74.10000000000000059.70000000000000110.7000000000000000715.710.812.312.1

AGM Koroll net velk + velkaste)

06070809101112131415

Korolliset nettovelat21.784.560.664.666.883.994.196.98291.3

Velkaantumisaste6.325.419.82526.539.345.433.727.629.3

M€ %

28%

Korolliset nettovelat0607080910111213141521.784.560.664.59999999999999466.883.994.196.98291.3Velkaantumisaste6.325.419.82526.539.30000000000000445.433.70000000000000327.629.3

AGM KassavirtaYTD

M€1-12

20142015Muutos %2013

Liiketoiminnan rahavirta+75.7+58.2-23.1+87.9+17.5

Investointien rahavirta-30.6-41.7+36.3

Rahavirta ennen rahoitusta+45.1+16.5-63.4

Rahoituksen rahavirta-37.7-28.4-24.7

Rahavarojen muutos+6.5-12.0-284.6

M€00Muutos

20142015


Käyttöpääoman muutos0.0+0.0+0.0

Maksetut/saadut verot ja korot0.00.0+0.0

Liiketoiminnan rahavirta75.758.2-17.5

Investointien rahavirta0.0+0.0+0.0

Rahavirta ennen rahoitusta75.758.2-17.5

Osingot ja omien osakkeiden osto0.00.0+0.0


Rahoituksen rahavirta0.00.0+0.0

Rahavarojen muutos75.758.2-17.5

ROI and ROE

Q1/2000Q1/2001

ROI7.82%4.40%

ROE6.79%3.05%



Solidity and Gearing

Q1/2000Q4/2000Q1/2001

Solidity36.90%48.30%44.80%

Gearing88.90%57.00%65.70%



Jarmo ROI ROE Solidity

3/200012/20003/2001

ROI7.80%13.20%4.40%

ROE6.79%12.80%3.05%

Solidity36.90%48.30%44.80%



ROI3/200012/20003/20017.8E-20.132000000000000014.3999999999999997E-2ROE3/200012/20003/20016.7900000000000002E-20.1283.0499999999999999E-2Solidity3/200012/20003/20010.368999999999999990.482999999999999980.44800000000000001

© Uponor13

January-December 2016Income statement


• Net sales growth 2.0% in organic terms, currency impact totalled -€10.3 million, mainly due to the GBP and CAD

• Expenses slightly up due to transformation costs, German acquisitions, and costs associated with growing operations in Building Solutions – North America. The increase was partially offset by the favourable progress in European transformation programmes.

• Comparable operating profit €90.7m, 8.2%, up by 19.7% (2015: €75.8m, 7.2%)

• Effective tax rate at 31.3% (40.9%) below the anticipated longer-term level. Includes one-time R&D tax credits in the USA

1-12 1-12 Change2015 2016 Y/Y

Net sales 1,050.8 1,099.4 +4.6%

Cost of goods sold 680.6 723.4 +6.3%

Gross profit 370.2 376.0 +1.6%

Gross profit margin (%) 35.2% 34.2% -1.0% pts

Other operating income 2.4 4.2 +78.4%

Expenses 301.2 309.2 +2.7%

Operating profit 71.4 71.0 -0.7%

Operating profit margin (%) 6.8% 6.5% -0.3% pts

Financial expenses, net 8.9 10.0 +11.6%

Share of result in associated companies 0.3 -0.6 -303.2%

Profit before taxes 62.8 60.4 -3.8%

Profit for the period 37.1 41.5 +11.7%

EBITDA 110.5 112.6 +1.9%

Continuing operations, M€






Account#N30699










Custom2#IEERROR:#NAME?Ireland ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XNetherlandsERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#FRERROR:#NAME?France ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XOther EUERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?RussiaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#BEERROR:#NAME?Belgium ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XOthersERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#NLERROR:#NAME?Netherlands ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XTotal GroupERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#ATERROR:#NAME?Austria ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?X

Custom2#CHERROR:#NAME?Switzerland ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#ITERROR:#NAME?Italy ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?X

Custom2#ESERROR:#NAME?Spain ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?X

Custom2#PTERROR:#NAME?Portugal ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?X

Custom2#PLERROR:#NAME?Poland ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XOther countriesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#HUERROR:#NAME?Hungary ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?X

Custom2#CZERROR:#NAME?Czech ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?X

Custom2#SKERROR:#NAME?Slovakia ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?X

Baltic countries ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?X

Custom2#RUERROR:#NAME?Russia ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#SIERROR:#NAME?SloveniaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?X

East Europe othersERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#USERROR:#NAME?USA ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?North AmericaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#CAERROR:#NAME?Canada ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

South America ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Middle East ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Far East ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Other countries ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#COUNTRIESERROR:#NAME?All countries ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?Tot checkERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

EU totalERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ICP#[ICP Top]ERROR:#NAME?check

ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?Custom3#PRODTOT

Custom2#EEERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äAccount#30699

Custom2#LTERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äCustom2#Functionsttl

Custom2#LVERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#AEERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#AMERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#ANERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#AUERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#BYERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#CNERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#CYERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#GRERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#HRERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#HKHong KongERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#INERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#IRERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#ISERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#JOERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#JPERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#LUERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#MTERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#MXERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äGrowth

Custom2#MYERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä% in EUR+24.0+0.2+15.9+12.0+60.8+28.4+34.7-3.1+8.1+10.0+10.8

Custom2#NZERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä% in Curr.+26.8+17.9+75.6+28.4+27.6+3.7+27.0

Custom2#PKPakistanERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#QAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äSales converted to local currency

Custom2#ROERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä2014201320142013Chg, %

Custom2#RSERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äAverage rates -Sep 2014Average rates - Sep 2013LCLC

Custom2#SAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äCAD1.4802CAD1.35486CanadaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#SGERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äCZK27.4954CZK25.753

Custom2#SYERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äCNY8.3325CNY8.12487

Custom2#TRERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äCHF1.2158CHF1.22867

Custom2#UAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äDKK7.4584DKK7.45722DenmarkERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#ZAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äGBP0.8088GBP0.85381UKERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#LBERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äHUF309.9089HUF298.01889

Custom2#IDERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äLTL3.4528LTL3.4528

Custom2#EGERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äLVL0.7019LVL0.7016

Custom2#KWERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äNOK8.2811NOK7.73444NorwayERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#KRERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äPLN4.1836PLN4.22474

Custom2#BAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äRON4.4372RON4.40377

Custom2#CLERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äRUB48.4057RUB41.90956RussiaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#LIERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äSEK9.0579SEK8.60644SwedenERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#BGERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äUSD1.3487USD1.31841USAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Custom2#GEERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äTHB43.7911THB40.18667

Custom2#MKERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?äBe careful with the currency rate!

Custom2#OMERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#ETERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#NGERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#IQERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#GIERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#SRERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#ARERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#FOERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#MEERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#LYERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#AOERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#COERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#TNERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#GHERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#PHERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#BRERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#UGERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#GLERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#KZERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#THERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#ALERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#KHERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#MMERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#BDERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#AXERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#TZERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#MAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#YEERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#VNERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

Custom2#LAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ä

HungaryNSCO515NSCO515NSCO5158318

CzechNSCO545NSCO545NSCO5455055

SlovakiaNSCO575NSCO575NSCO575686

Baltic countriesNSCO605NSCO605NSCO60511822

RussiaNSCO635NSCO635NSCO6357640

Other CIS countriesNSCO665NSCO665NSCO665633

Other European countr - ExternNSCO695NSCO695NSCO6959219

USANSCO725NSCO725NSCO725251979

CanadaNSCO755NSCO755NSCO75518707

South AmericaNSCO785NSCO785NSCO7853485

Middle EastNSCO815NSCO815NSCO81510868

Far EastNSCO845NSCO845NSCO8456185

Other countriesNSCO875NSCO875NSCO8754234

All countriesNSCO905NSCO905NSCO9051137202

&"Verdana,Regular"&8&F, &A&"Verdana,Regular"&8Printout on &D at &T

Scandinavia16,9%

Other countries4,9%

Jan-Sep 2012



USAGermanyFinlandSwedenCanadaDenmarkUKNorwayNetherlandsRussiaOthers00000000000

-9.1% in EUR-4.1% in NOK

- 9.3%

Key Figures

Jatkuvat toiminnotUponor Group, continuing operations1-121-12Change1-12

20152016Y/Y2015fmcluster_FIREX

LiikevaihtoNet salesM€ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?1,050.8Scenario#Act

LiikevoittoOperating profitM€ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?71.4Entity#8010

Vertailukelpoinen liikevoittoComparable operating profitM€ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?75.8View#YTD

Vertailukelpoinen liikevoitto %Comparable operating profit margin%ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?pts7.2%ICP#[ICP Top]

Laimennettu osakekohtainen tulos, €Earnings per share (diluted)€0.510.58+13.7%0.51Custom1#IFRS

Oman pääoman tuotto, % (p.a.)Return on equity (p.a.)%12.1%13.1%1.0%pts12.1%Custom2#FUNCTIONSTTLYear#2016Year#2015Year#2015

Sijoitetun pääoman tuotto, % (p.a.)Return on investment (p.a.)%15.5%14.1%-1.4%pts15.5%Custom3#PRODTOTPeriod#DecPeriod#DecPeriod#Dec

Korolliset nettovelatNet interest bearing liabilitiesM€91.3159.5+74.7%91.3Value#EUR Total

Velkaantumisaste, %Gearing%29.3%48.8%+19.5%pts29.3%ERROR:#NAME?

Nettokäyttöpääoma / Liikevaihto, % (p.a.)Net working capital of Net sales (p.a.)%ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ptsERROR:#NAME?Account#KF_NWC_NSERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Henkilöstö 31.12.Number of employees, end of periodFTE3,7353,868+3.6%3,735



Income statement

Current year:2016fmcluster_FIREXEntity#8010ERROR:#NAME?

Last year:2015Scenario#ACTEntity#9870ERROR:#NAME?

View#YTDEntity#1000SGERROR:#NAME?

Period:DecValue#

Last quarter:SepICP#[ICP Top]

Custom1#IFRS


Custom3#PRODTOT

Custom4#[None]

YTD

1-121-12

Continuing operations, M€1-121-12Change1-12Year#2015Year#2016Year#2015Year#2016

20152016Y/Y2015Period#DecPeriod#DecPeriod#SepPeriod#Sep

Account#30699Net salesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?1,050.8ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Cost of goods soldERROR:#NAME?ERROR:#NAME?ERROR:#NAME?680.6ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Account#33399Gross profitERROR:#NAME?ERROR:#NAME?ERROR:#NAME?370.2ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Gross profit margin (%)ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?pts35.2%

Account#44099Other operating incomeERROR:#NAME?ERROR:#NAME?ERROR:#NAME?2.4ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

ExpensesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?301.2ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Account#49999Operating profitERROR:#NAME?ERROR:#NAME?ERROR:#NAME?71.4ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Account#50999Operating profit margin (%)ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?pts6.8%4,321.0019,724.001,803.0011,087.00IAC

Account#51899Financial expenses, netERROR:#NAME?ERROR:#NAME?ERROR:#NAME?8.9ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Account#61000Share of result in associated companiesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?0.3ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Profit before taxesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?62.8ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Account#89999Profit for the periodERROR:#NAME?ERROR:#NAME?ERROR:#NAME?37.1ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?Depreciation and impairment

Account#51999EBITDAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?110.5ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?Year#2015Year#2016Year#2015Year#2016

Period#DecPeriod#DecPeriod#SepPeriod#Sep

DepreciationERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?Account#33290ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

QuarterAccount#33291ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

10-1210-12Account#33292ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?



Continuing operations, M€10-1210-12Change1-12Account#33490ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

20152016Y/Y201510-12/201510-12/2016Account#33491ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Net salesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?1,050.8ERROR:#NAME?ERROR:#NAME?Account#33590ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Cost of goods soldERROR:#NAME?ERROR:#NAME?ERROR:#NAME?680.6ERROR:#NAME?ERROR:#NAME?Account#33591ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Gross profitERROR:#NAME?ERROR:#NAME?ERROR:#NAME?370.2ERROR:#NAME?ERROR:#NAME?Account#33690ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Gross profit margin (%)ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?pts35.2%Account#33691ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Other operating incomeERROR:#NAME?ERROR:#NAME?ERROR:#NAME?2.4ERROR:#NAME?ERROR:#NAME?Account#33695ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

ExpensesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?301.2ERROR:#NAME?ERROR:#NAME?Account#33696ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Operating profitERROR:#NAME?ERROR:#NAME?ERROR:#NAME?71.4ERROR:#NAME?ERROR:#NAME?Account#33790ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Operating profit margin (%)ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?pts6.8%Account#45020ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Financial expenses, netERROR:#NAME?ERROR:#NAME?ERROR:#NAME?8.9ERROR:#NAME?ERROR:#NAME?Account#33791ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Share of result in associated companiesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?0.3ERROR:#NAME?ERROR:#NAME?Account#33792ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Profit before taxesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?62.8ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Profit for the periodERROR:#NAME?ERROR:#NAME?ERROR:#NAME?37.1ERROR:#NAME?ERROR:#NAME?

EBITDAERROR:#NAME?ERROR:#NAME?ERROR:#NAME?110.5ERROR:#NAME?ERROR:#NAME?



NS & OP Graph

GRAPH DATA - Net salesGRAPH DATA - Operating profit

Building Solutions - EuropeBuilding Solutions - North AmericaUponor InfraBuilding Solutions - EuropeBuilding Solutions - North AmericaUponor Infra

1-12 2015467.1275.8312.01-12 201527.651.00.9

1-12 2016511.0305.6287.91-12 201638.050.06.4

Currency: M€

Net salesComparable operating profit

&"Verdana,Regular"&8Printed on &D at &T

1-12 2015


Building Solutions - EuropeBuilding Solutions - North AmericaUponor Infra511305.60000000000002287.89999999999998

1-12 2015


Building Solutions - EuropeBuilding Solutions - North AmericaUponor Infra38506.4

Balance Sheet

fmcluster_FIREX

Scenario#ACT

View#YTD

Value#

Entity#1000SG

ICP#[ICP Top]

Custom1#IFRS


Custom3#PRODTOT

PeriodDecCustom4#[None]

Period#Dec

M€31 Dec31 DecChange31 Dec

20152016Y/Y2015Year#2016Year#2015

Account#11999Property, plant and equipmentERROR:#NAME?ERROR:#NAME?ERROR:#NAME?221.4ERROR:#NAME?ERROR:#NAME?

Account#10999Intangible assetsERROR:#NAME?ERROR:#NAME?ERROR:#NAME?94.7UBS:ERROR:#NAME?ERROR:#NAME?

Account#12989Securities and long-term investmentsERROR:#NAME?ERROR:#NAME?ERROR:#NAME?21.09.6ERROR:#NAME?ERROR:#NAME?

Account#13999InventoriesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?112.4ERROR:#NAME?ERROR:#NAME?

Account#17999Cash and cash equivalents *ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#REF!UBS:ERROR:#NAME?ERROR:#NAME?

Other current and non-current assetsERROR:#NAME?ERROR:#NAME?ERROR:#NAME?209.1-9.6ERROR:#NAME?ERROR:#NAME?

Account#21999Account#22000Total equityERROR:#NAME?ERROR:#NAME?ERROR:#NAME?311.7ERROR:#NAME?ERROR:#NAME?

Account#25499Account#25750Non-current interest-bearing liabilitiesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?91.2ERROR:#NAME?ERROR:#NAME?

Account#27099Account#25099ProvisionsERROR:#NAME?ERROR:#NAME?ERROR:#NAME?25.0ERROR:#NAME?ERROR:#NAME?

Non-interest-bearing liabilitiesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?231.6ERROR:#NAME?ERROR:#NAME?

Account#28779Account#27400Account#27999Current interest-bearing liabilitiesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?48.3ERROR:#NAME?ERROR:#NAME?

Account#29999Balance sheet totalERROR:#NAME?ERROR:#NAME?ERROR:#NAME?707.8ERROR:#NAME?ERROR:#NAME?


Check - Net Interest Bearing LiabilitiesERROR:#NAME?ERROR:#NAME?96.91.0

ERROR:#NAME?ERROR:#NAME?

MEUR30.9.30.9.Muutos31.12.

201620152015




Vaihto-omaisuusERROR:#NAME?ERROR:#NAME?ERROR:#NAME?112.4

Rahat ja pankkisaamisetERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#REF!










Cash Flow

M€1-121-12Change1-12

20152016Y/Y2015

Net cash from operations+105.6+105.3-0.3+105.6

Change in NWC-15.0-16.6-1.6-15.0

Net payment of income tax and interest-32.4-28.8+3.6-32.4

Cash flow from operations+58.2+59.9+1.7+58.2

Cash flow from investments-41.7-91.8-50.1-41.7

Cash flow before financing+16.5-31.9-48.4+16.5

Dividends and buy backs-30.7-32.2-1.5-30.7

Other financing+2.3+32.0+29.7+2.3

Cash flow from financing-28.4-0.2+28.2-28.4

Conversion differences-0.1+0.2+0.3-0.1

Change in cash and cash equivalents-12.0-31.9-19.9-12.0

M€1-121-12Muutos

20162015


Käyttöpääoman muutos-16.6-15.0-1.6

Maksetut/saadut verot ja korot-28.8-32.4+3.6

Liiketoiminnan rahavirta59.958.2+1.7

Investointien rahavirta-91.8-41.7-50.1

Rahavirta ennen rahoitusta-31.916.5-48.4

Osingot ja omien osakkeiden osto-32.2-30.7-1.5


Rahoituksen rahavirta-0.2-28.4+28.2

Rahavarojen muutos-32.1-11.9-20.2

Capital structure

FIM

19953212

19962616

19972196

19982123

19992525

Korolliset nettovelat, MEUR (lhs)Gearing vuoden lopussa, % (rhs)

Net interest bearing liabilities, M€ (lhs)Gearing at year end, % (rhs)Avg gearing across quarters, % (rhs)

FAS1995540.2172%

FAS1996440.089%

FAS1997369.385%

FAS1998357.184%

FAS2000310.757%

FAS2001282.853%

FAS2002163.930%

FAS200384.018%

IFRS200433.69%

IFRS2005-26.9-6%

IFRS200621.76%5%

IFRS200784.525%44%

IFRS200860.620%46%

IFRS200964.625%45%

IFRS201066.827%46%

IFRS201183.939%56%

IFRS201294.145%65%

IFRS201396.934%58%

IFRS201482.028%46%

IFRS201591.329%40%

IFRS2016159.549%57%

Omavaraisuusaste, % (rhs)

Solvency, % (rhs)

19950.329

19960.376

19970.401

19980.399

20000.483

20010.498

20020.589

20030.598

20040.577

20050.632

20060.536

20070.502

20080.514

20090.518

20100.508

20110.412

20120.415

20130.439

20140.439

20150.443

20160.428

Net interest bearing liabilities, M€ (lhs)201020112012201320142015201666.883.994.196.98291.3159.49999999999997Gearing at year end, % (rhs)20102011201220132014201520160.265000000000000010.393000000000000020.454000000000000010.337000000000000020.276000000000000020.292999999999999980.48799999999999999Avg gearing across quarters, % (rhs)20102011201220132014201520160.460.557500000000000110.650.578999999999999960.458000000000000020.404000000000000030.56699999999999995Solvency, % (rhs)20102011201220132014201520160.508000000000000010.411999999999999980.414999999999999980.4390.4390.4430.42799999999999999

*) Sisältää 24,6 MEUR lopetettujen toimintojen voittoja**) Sisältää 42,4 MEUR lopetettujen toimintojen voittoja

Dividends and payout ratio

Osinko, M€ (lhs)Osinko % osakekoht. tuloksesta (rhs)

Total dividend M€ (lhs)Payout as % of EPS (rhs)FIM

199611.971

199717.825.2 %106

199822.753.8 %135

199925.942.3 %154EPSDividend/share

200030.646.0 %0.870.40

200129.972.1 %0.580.40

200255.587.2 %0.860.75

2003106.90.021.44

200452.058.8 %1.190.70

2005166.0202.7 %1.122.27

2006102.5106.1 %1.321.40

2007102.5100.7 %1.391.40

200862.185.9 %0.990.85

200936.6312.5 %0.160.50

201040.2161.8 %0.340.55

201125.50.030.35

201227.884.4 %0.450.38

201327.8100.0 %0.380.38

201430.784.0 %0.500.42

201532.186.3 %0.510.44

201633.679.3 %0.580.46

Total dividend M€ (lhs)2012201320142015201627.7627.76529508000000130.6879577232.14928903999999933.643473100000001Payout as % of EPS (rhs)201220132014201520160.8444444444444444410.840.862745098039215730.79310344827586221

AGM IS

Last year


ScenarioACT

ViewYTDScenario#ACT

ValueView#YTD


Year2015Year#2014Entity#1000sgEntity#8010Entity#9870

ICP[ICP Top]ICP#[ICP none]Year#2015Year#2014Year#2014Year#2014Year#2013






PerioddecERROR:#REF!

Period#decPeriod#DecPeriod#DecPeriod#SepPeriod#Sep

M€Full figures

20142015Muutos %20152014201420142013

30699Account#30699LiikevaihtoERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Hankinnan ja valmistuksen kulutERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

33399Account#33399BruttokateERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

44099Account#44099Liiketoiminnan muut tuototERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Kiinteät kulutERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

49999Account#49999LiikevoittoERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

50999Account#50999

51899Account#51899Rahoitustuotot ja -kulutERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

61000Account#61000Osuus osakkuusyritysten tuloksestaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

VerotERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

89999Account#89999Tilikauden voittoERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

51999Account#51999ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Check with OPERROR:#NAME?

Depreciation36.533.036,45832,96632,96626,95923,918

MEUR0

2015

Jatkuvat toiminnot

LiikevaihtoERROR:#NAME?

Hankinnan ja valmistuksen kulutERROR:#NAME?

BruttokateERROR:#NAME?


Liiketoiminnan muut tuototERROR:#NAME?

KulutERROR:#NAME?

LiikevoittoERROR:#NAME?


Rahoituskulut, nettoERROR:#NAME?

Tulos ennen verojaERROR:#REF!

Kauden tulosERROR:#NAME?

EBITDA0.0

Excluding OTC

MEUR1-12

2008

Continuing operations

Net sales949.2949,199

Cost of goods sold604.8604,797

-excluding expenses related to cost reduction programme2.72,652

-excluding scrapping of inventory47004700

Gross profit excluding one time costs344.4344,402


Other operating income1.41,450

Expenses 272.9272,878

- excluding US provision14.514,530

- excluding expenses related to cost reduction programme4.64,622

Operating profit excluding one time costs72.972,974


Operating profit51.251,170

- % of net salesERROR:#NAME?

Financial expenses, net10.210,202

Profit before taxes41.040,968

Profit for the period30.130,070

EBITDA0.051,170



AGM Balance Sheet

Last year


ScenarioACT

ViewYTDScenario#ACT

ValueView#YTD


Year2015Year#Entity#1000sgEntity#8010Entity#9870

ICP[ICP Top]ICP#[ICP none]Year#2015Year#Year#2014Year#2014






PeriodDecPeriod#

Period#Dec

66536.5654413593

M€31 Dec

20142015Muutos %201320152014

12999Account#12999Pitkäaikaiset varatERROR:#NAME?ERROR:#NAME?ERROR:#NAME?201.8ERROR:#NAME?ERROR:#NAME?

19999Account#19999Lyhytaikaiset varatERROR:#NAME?ERROR:#NAME?ERROR:#NAME?102.8ERROR:#NAME?ERROR:#NAME?

19999Account#19999Varat yhteensäERROR:#NAME?ERROR:#NAME?ERROR:#NAME?10.8ERROR:#NAME?ERROR:#NAME?

20000Account#20000OsakepääomaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?53.7ERROR:#NAME?ERROR:#NAME?

Muu oma pääomaERROR:#NAME?ERROR:#NAME?ERROR:#NAME?176.5ERROR:#NAME?ERROR:#NAME?

22000Account#22000Määräysvallattomien omistajien osuusERROR:#NAME?ERROR:#NAME?ERROR:#NAME?287.7ERROR:#NAME?ERROR:#NAME?

22099Account#22099Oma pääoma yhteensäERROR:#NAME?ERROR:#NAME?ERROR:#NAME?136.4ERROR:#NAME?ERROR:#NAME?

26999Account#26999Pitkäaikaiset velatERROR:#NAME?ERROR:#NAME?ERROR:#NAME?22.1ERROR:#NAME?ERROR:#NAME?

28999Account#28999Lyhytaikaiset velatERROR:#NAME?ERROR:#NAME?ERROR:#NAME?200.6ERROR:#NAME?ERROR:#NAME?

274002799928779Account#28779Account#27400Account#27999Velat yhteensäERROR:#NAME?ERROR:#NAME?ERROR:#NAME?14.2ERROR:#NAME?ERROR:#NAME?

29999Account#29999Oma pääoma ja velat yhteensäERROR:#NAME?ERROR:#NAME?ERROR:#NAME?661.0ERROR:#NAME?ERROR:#NAME?

Check - Net Interest Bearing LiabilitiesERROR:#NAME?ERROR:#NAME?96.9

MEUR30.9.30.9.Muutos31.12.

201520142013




Vaihto-omaisuus0.00.0+0.00.0

Rahat ja pankkisaamisetERROR:#NAME?ERROR:#NAME?ERROR:#NAME?53.7










AGM NS ja OP kehitys



ViewYTDView#YTD

ValueEURValue#EUR


Year2006200720082009201020112012201320142015








Account49999Account#49999Liikevaihto1003.71047.4949.2ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

Liikevoitto (oik.)132.9135.7451.241.252.4ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?

M€M€

28%

Liikevaihto060708091011121314151003.71047.4000000000001949.20000000Liikevoitto (oik.)132.9135.7451.241.252.400000

AGM OPO ja tuoton kehitys (2)



ViewYTDView#YTD

ValueEURValue#EUR


Year2006200720082009201020112012201320142015








Account49999Account#49999Oma pääoma344.4333305.6258252.1209.2207.3219.7231.1248

ROE25.3030.1022.704.109.700.7015.7010.8012.3012.10

M€ %

* emoyhtiön omistajille kuuluva pääoma

28%

Oma pääoma06070809101112131415344.4333305.60000000000002258252.1209.2207.3219.7231.1248ROE25.330.09999999999999822.74.10000000000000059.70000000000000110.7000000000000000715.710.812.312.1

AGM Koroll net velk + velkaste)

06070809101112131415

Korolliset nettovelat21.784.560.664.666.883.994.196.98291.3

Velkaantumisaste6.325.419.82526.539.345.433.727.629.3

M€ %

28%

Korolliset nettovelat0607080910111213141521.784.560.664.59999999999999466.883.994.196.98291.3Velkaantumisaste6.325.419.82526.539.30000000000000445.433.70000000000000327.629.3

AGM KassavirtaYTD

M€1-12

20142015Muutos %2013

Liiketoiminnan rahavirta+75.7+58.2-23.1+87.9+17.5

Investointien rahavirta-30.6-41.7+36.3

Rahavirta ennen rahoitusta+45.1+16.5-63.4

Rahoituksen rahavirta-37.7-28.4-24.7

Rahavarojen muutos+6.5-12.0-284.6

M€00Muutos

20142015


Käyttöpääoman muutos0.0+0.0+0.0

Maksetut/saadut verot ja korot0.00.0+0.0

Liiketoiminnan rahavirta75.758.2-17.5

Investointien rahavirta0.0+0.0+0.0

Rahavirta ennen rahoitusta75.758.2-17.5

Osingot ja omien osakkeiden osto0.00.0+0.0


Rahoituksen rahavirta0.00.0+0.0

Rahavarojen muutos75.758.2-17.5

ROI and ROE

Q1/2000Q1/2001

ROI7.82%4.40%

ROE6.79%3.05%



Solidity and Gearing

Q1/2000Q4/2000Q1/2001

Solidity36.90%48.30%44.80%

Gearing88.90%57.00%65.70%



Jarmo ROI ROE Solidity

3/200012/20003/2001

ROI7.80%13.20%4.40%

ROE6.79%12.80%3.05%

Solidity36.90%48.30%44.80%



ROI3/200012/20003/20017.8E-20.132000000000000014.3999999999999997E-2ROE3/200012/20003/20016.7900000000000002E-20.1283.0499999999999999E-2Solidity3/200012/20003/20010.368999999999999990.482999999999999980.44800000000000001

© Uponor14

January-December 2016Net sales and results by segment


Building Solutions – Europe

• Net sales growth driven by the German acquisitions. Comparable operating profit margin at 7.4%, up from 5.9%

Building Solutions – North America

• Only modest net sales growth in H2/ 2016; increased costs from managing resin supply shortage. Comparable operating profit margin at 16.4%, down by 2.1% pts from the very high level in 2015

Uponor Infra

• Net sales down by 7.7% driven by Poland and North America. Improved comparable operating profit resulted from reduced cost level and improving performance in most of the Nordic countries

© Uponor15

January-December 2016Net sales development by key markets


• Growth in Germany driven by the KaMo and Delta acquisitions

• In Building Solutions - Europe, sales in local currency grew in nine out of the ten largest countries

© Uponor16

January-December 2016Balance sheet


• Increase in the balance sheet driven by the KaMo and Delta acquisitions and a growing business in Building Solutions –North America

• In Europe, inventories were increased to serve as buffers in connection with production transfers in both Building Solutions – Europe and in Uponor Infra.

• Non-controlling interest represents €63.6m of the total equity at €326.9m

M€ 31 Dec 31 Dec Change2015 2016 Y/Y

Property, plant and equipment 221.4 240.9 +19.5

Intangible assets 94.7 119.0 +24.3

Securities and long-term investments 21.0 34.7 +13.7

Inventories 112.4 139.3 +26.9

Cash and cash equivalents * 49.2 16.3 -32.9

Other current and non-current assets 209.1 217.3 +8.2

Total equity 311.7 326.9 +15.2

Non-current interest-bearing liabilities 91.2 158.2 +67.0

Provisions 25.0 28.8 +3.8

Non-interest-bearing liabilities 231.6 236.0 +4.4

Current interest-bearing liabilities 48.3 17.6 -30.7

Balance sheet total 707.8 767.5 +59.7







Account#N30699










Custom2#IEERROR:#NAME?Ireland ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?XNetherlandsERROR:#NAME?ERROR:#NAME?ERROR:#N

Financial results briefing - Uponor · • Building Solutions – Europe reported an increase of 10.0%, with just over half coming from the German acquisitions in January 2016, the

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