Year 2011 has been good for Peikko Group. The growth of net sales in January – September 2011 was almost 50%. The net sales for 2011 are estimated to reach EUR 100 million (EUR 77 million in 2010). The Group’s operational result will also be clearly positive after two weaker years.
The demand has been strongest in German speaking countries and in the Nordic Countries. In 2011 Peikko also started production activities in China. The outlook for the following months is still favorable, even if the international financial crisis is likely to affect volumes in spring 2012.
The ownership structure of Peikko Group Corporation, the parent company of Peikko Group, will change. The company is part of Troll Capital Oy, which is owned by equal shares by the siblings Elmar Paananen, Annamari Jukko and Topi Paananen. Peikko Group will separate from Troll Capital Oy through a partial demerger on 31 October 2011. When the phased ownership succession arrangements end in 2012, Peikko Group will be jointly owned about half by Topi Paananen and the other half by the seven grandchildren of the company’s founder Jalo Paananen.
”This arrangement will further improve Peikko’s balance sheet and clarify the ownership structure for the following decades to come. Peikko continues as an entrepreneurial, independent, and financially strong player in its field”, states Topi Paananen, CEO and future principal owner of Peikko Group Corporation.
