RAUFOSS, Norway, March 21, 2016 (GLOBE NEWSWIRE) -- Nammo's sales increased to NOK 3 783 million (MUSD 469) in 2015, and the result after tax ended at NOK 229 million (MUSD 28,5); a 12.1 percent increase from 2014. The company is positioned for future growth.
Solid order intake
Nammo has invested significantly in new products and experiences a growth in key markets in North America and Europe. The order backlog at year-end amounts to NOK 5 130 million (MUSD 636). This is all time high and provides a solid base for further profitable growth.
Outlook for growth in 2016
Nammo envisions a good organic growth in 2016. The national defense authorities' focus on increased security of supply will provide Nammo with correspondingly greater opportunities in the future. The company is well prepared with a wide product portfolio.
"When it comes to acquisitions, Nammo is always looking for candidates that can contribute to strengthening the company's core business. Meanwhile, we are actively working to integrate our latest acquisitions into the Nammo family," CEO Morten Brandtzæg says.
In 2015, the group strengthened its cooperation with Finnish authorities further through acquisition and reinitiation of a production line in Sastamala. Nammo also opened a sales office in the United Arab Emirates and established Nammo Polska Sp. z o.o in Warsaw, Poland.
From Nordic roots to international positioning
Nammo is an established Nordic defense industry group with two equal owners; the Finnish Defence and Aerospace Group Patria and the Norwegian State. The Nordic market is of great significance as a reference customer on sales of Nammo's products in the international market. In 2015 Nammo's export share outside the Nordic region increased, and account for 78 percent of the turnover.
Nammo is a world leader in specialty ammunition, rocket motor technology and shoulder-fired systems, and this expertise has given the group a unique position.
Nammo's focus areas
Health, Environment, Safety and Security have the highest priority in Nammo operations. The group also has a continuous focus on high ethical standards externally as well as internally. Efforts to reinforce this will continue into 2016.
|Key figures: Nammo's operating income in 2015 was NOK 3 783 million (MUSD 469), a 1,8 percent increase from 2014 Result after tax is NOK 229 million (MUSD 28,5); 12,1 percent higher than in 2014 The Board proposes a dividend payment to the general assembly of NOK 108.7 million (MUSD 13,5) for 2015 Order backlog at year-end amounted to NOK 5 130 million (MUSD 636) Sale outside the Nordic region accounted for 78 percent of Nammo's total income in 2015|
For further information, please contact:
Senior Vice President Communication
+47 61 15 22 42
Peter Lerche Raadal
Senior Vice President Finance & CFO
+47 61 15 21 22
The Nammo Group is a supplier of high performance products to the aerospace & defense industry. Its core businesses are military and commercial ammunition; shoulder fired systems; rocket motors and environmentally friendly demilitarization. Nammo has 2,100 employees located in 11 countries.
Source: Nammo AS