VAAHTO GROUP PLC OYJ STOCK EXCHANGE RELEASE 29.6.2007 at 10.00 a.m. VAAHTO GROUP INTERIM MANAGEMENT STATEMENT FOR 1.9.2006 - 29.6.2007 In the period under review, the turnover and result for the Vaahto Group developed as expected. The turnover for the period from 1 September 2006 to 31 May 2007 was 59.6 million euros (44.5 million euros), with an operating profit of 1.8 million euros (0.4 million euros). The turnover increased by 34% from that of the reference period. The order book stood at 52.4 million euros on 31 May 2007, which is slightly lower than the amount in the interim report for 28 February 2007 (54.7 million euros). Pulp & Paper Machinery The turnover of the Pulp & Paper Machinery division for the period under review was 38.2 million euros, showing an increase of 48% from that of the reference period. Turnover is expected to remain high also during the last quarter of the fiscal period. The market situation of the Pulp & Paper Machinery division is challenging, and the demand seems to have peaked out. The division's order book has decreased from the start of the fiscal period. In spite of the stabilising market situation, the Vaahto Pulp & Paper Machinery division still has a significant number of projects in the tender stage. Process Machinery The turnover of the Process Machinery division for the period under review was 21.4 million euros, showing an increase of 15% compared to the reference period. Turnover is expected to continue to grow in the last quarter of the fiscal period. The market situation for the Process Machinery division continues to be good, and the order book grew in all product groups (vessels, agitators, spiral heat exchangers) during the period. Significant events during the period In May 2007, Vaahto Group established a subsidiary in Shanghai, China, to support the functions of the Pulp & Paper Machinery division in China. Vaahto Pulp & Paper Machinery Trading/Distribution (Shanghai) Ltd. will handle the group's sales in the Chinese markets, as well as set up and develop a network of subcontractors for projects also outside China. Forecast for the fiscal period from 1 September 2006 to 31 August 2007 The good order book is expected to result in increased turnover also for the final quarter of the fiscal period. The result for the fiscal period is expected to be better than that of the previous fiscal period. The information is unaudited. Lahti, June 29, 2007 VAAHTO GROUP PLC OYJ Board of Directors Information: Antti Vaahto CEO, Vaahto Group Plc Oyj tel. +358 40 8232835
VAAHTO GROUP INTERIM MANAGEMENT STATEMENT FOR 1.9.2006 - 29.6.2007
| Source: Plc Uutechnic Group Oyj