Year 2019 was record-breaking for forest machine manufacturer Logset Oy. The turnover was Euro 48 million, compared to Euro 40.1 million in 2018. FY 2019 operating profit landed on Euro 2.5 million, compared to Euro 1.6 million in 2018. The turnover and result were higher than ever.
However, during the first months of 2020 the market situation has clearly weakened. In the beginning of the year it was observed that the demand for forest machines has decreased. In Finland the demand was affected by labour disputes.
The global market suffered from the amounts of force cut timber due to storms in Central Europe and insect damages in North America and Europe. The price of timber had dropped already before the outbreak of the global Corona virus pandemic. The current risks have to do with the world’s economical state and health issues, as well as how the sales will develop.
Logset believes that the growth target for 2020 is still within reach, even when taking in account the disturbance of the market caused by the Corona virus.
Logset Oy is a Finnish forest machine manuf acturer located in Koivulahti, near Vaasa.