Transaction closed
Fortaco Group and Buisard Cabins have joined forces.
Fortaco Group has acquired 100 percent of Buisard Cabins. A strategic alliance was established at the end of 2021 when a minority share of Buisard was acquired.
With this acquisition, we are now expanding our geographical footprint and position as one of the leading vehicle cabin technology and manufacturing partners in Europe and India.
Our premium vehicle cabin brands Buisard - Fortaco - MauserCABS - Tata AutoComp guarantee high-quality products for our customers around the world.
”Our collaboration has developed very positively, we have received new business from our joint customer portfolio. Our collaboration between the teams is excellent, and synergies are numerous. I am very pleased to take the next step to fully integrate the Buisard team into Fortaco’s vehicle cabin business." Jean-Guy Cocaign, President & CEO for Buisard takes the leadership of further developing Fortaco’s cabin business to enhance our global position as one of the leading vehicle cabin manufacturers. We have great teams, broad know-how, and a sustainable future as one leading international team”, says Lars Hellberg, President & CEO for Fortaco Group.
Read the whole press release, click here
ZAPYTANIA OFERTOWE z dnia 13.09.2023 r.
Zakoñczenie zapytañ ofertowych – informacja
W związku z planowaną realizacją projektu finansowanego w ramach: KRAJOWEGO PLANU ODBUDOWY I ZWIĘKSZENIA ODPORNOŚCI,
This is a tender inquiry for our Business Site in Poland.
Komponent A „Odporność i konkurencyjność gospodarki”,
Cel szczegółowy: Rozwój narodowego systemu innowacji: wzmocnienie koordynacji, stymulowanie potencjału innowacyjnego oraz współpracy pomiędzy przedsiębiorstwami i organizacjami badawczymi, w tym w zakresie technologii środowiskowych,
Reforma: A 2.1. Przyśpieszenie procesów robotyzacji i cyfryzacji i innowacji,
Inwestycja: A 2.1.1.
Data publikacji zapytania ofertowego: 13.09.2023 r.
Ostateczny termin składania ofert upływa dnia: 16.10.2023 r.
Komunikacja w postępowaniu o udzielenie zamówienia, składanie ofert, wymiana informacji (składanie pytań do zamówienia) oraz przekazywanie dokumentów i oświadczeń odbywa się pisemnie za pomocą maila: fortacojl@bldg.pl
2. Zrobotyzowane stanowisko spawalnicze
2. Zrobotyzowane stanowisko spawalnicze. ZAKTUALIZOWANE POSTĘPOWANIE, TERMIN SKŁADANIA OFERT 18.10.2023
Pytania i odpowiedzi (Q&A)
Welcome to Fortaco
The acquisition of MauserCABS has been completed.
We welcome MauserCABS to the Fortaco family and are eager to start working together.
MauserCABS is a high-precision manufacturer of safety cabins operating in international markets.
With this acquisition, Fortaco is broadening its cabin technology offerings in Europe, India, and the US.
ZAPYTANIA OFERTOWE z dnia 01.09.2023 r.
Zakończenie zapytań ofertowych - informacja
This is a tender inquiry for our new Business Site in Poland.
W związku z planowaną realizacją projektu pn. “Fortaco smart factory - utworzenie nowego zakładu w Knurowie” finansowanego w ramach:
KRAJOWEGO PLANU ODBUDOWY I ZWIĘKSZENIA ODPORNOŚCI,
Komponent A „Odporność i konkurencyjność gospodarki”,
Cel szczegółowy: Rozwój narodowego systemu innowacji: wzmocnienie koordynacji, stymulowanie potencjału innowacyjnego oraz współpracy pomiędzy przedsiębiorstwami i organizacjami badawczymi, w tym w zakresie technologii środowiskowych,
Reforma: A 2.1. Przyśpieszenie procesów robotyzacji i cyfryzacji i innowacji,
Inwestycja: A 2.1.1.
Data publikacji zapytań ofertowych: 01.09.2023 r
Ostateczny termin składania ofert upływa dnia: 02.10.2023 r.
Komunikacja w postępowaniu o udzielenie zamówienia, składanie ofert, wymiana informacji (składanie pytań do zamówienia) oraz przekazywanie dokumentów i oświadczeń odbywa się pisemnie za pomocą maila: fortacokn@bldg.pl
1. Wycinarka-ukosowarka płomieniowa z systemem cięcia sterowanym czujnikiem, który optymalizuje mechanikę i system sterowania do ukosowania blach płaskich. - UWAGA: ZAKTUALIZOWANO POSTĘPOWANIE
1. Wycinarka-ukosowarka płomieniowa z systemem cięcia sterowanym czujnikiem, który optymalizuje mechanikę i system sterowania do ukosowania blach płaskich. - ZAKTUALIZOWANE POSTĘPOWANIE, TERMIN SKŁADANIA OFERT 06.10.2023
2. Wycinarka laserowa z systemem ukosowania krawędzi blach ( 2 sztuki)
3. Wycinarka plazmowa z systemem ukosowania krawedzi blach ( 3 sztuki) - UWAGA: ZAKTUALIZOWANO POSTĘPOWANIE
3. Wycinarka plazmowa z systemem ukosowania krawedzi blach ( 3 sztuki) - ZAKTUALIZOWANE POSTĘPOWANIE , TERMIN SKŁADANIA OFERT 06.10.2023
4. Wycinarka płomieniowa - UWAGA: ZAKTUALIZOWANO POSTĘPOWANIE
4. Wycinarka płomieniowa - ZAKTUALIZOWANE POSTĘPOWANIE , TERMIN SKŁADANIA OFERT 06.10.2023
5. Prasa krawędziowa gnąca ( Siła gnąca 6400 kN , Długość gięcia 4500 mm)
6. Prasa krawędziowa gnąca ( Siła gnąca 4000 kN, Długość gięcia 4050 mm)
7. Prasa krawędziowa gnąca ( Siła gnąca 2200 kN, Długość gięcia 4270 mm)
10. Prostowarka automatyczna do detali ciętych laserowo lub plazmowo - UWAGA: ZAKTUALIZOWANO POSTĘPOWANIE
10. Prostowarka automatyczna do detali ciętych laserowo lub plazmowo - ZAKTUALIZOWANE POSTĘPOWANIE, TERMIN SKŁADANIA OFERT 06.10.2023
11. Prostowarka precyzyjnej automatyczna do detali ciętych laserowo płomieniowo lub plazmowo - UWAGA: ZAKTUALIZOWANO POSTĘPOWANIE
11. Prostowarka precyzyjnej automatyczna do detali ciętych laserowo płomieniowo lub plazmowo - ZAKTUALIZOWANE POSTĘPOWANIE , TERMIN SKŁADANIA OFERT 06.10.2023
12. Prasa bramowa do prostowania blach
13. Maszyna do odżużlania i gratowania
15. Gratowarka z piramidami ściernymi z turbiną odsysająca pył obróbczy.
16. Oczyszczarka strumieniowa z przenośnikiem rolkowym - UWAGA: ZAKTUALIZOWANO POSTĘPOWANIE
16. Oczyszczarka strumieniowa z przenośnikiem rolkowym - ZAKTUALIZOWANE POSTĘPOWANIE , TERMIN SKŁADANIA OFERT 06.10.2023
19. Zapytanie_ofertowe nr 19_2023_Prasa_krawędziowa_gnąca (ponowienie 5)
Ostateczny termin składania ofert to: 24.11.2023 r.
Data publikacji zapytania ofertowego : 06.09.2023 r
Ostateczny termin składania ofert upływa dnia: 06.10.2023 r.
1. Odpowiedź nr 1 na pytanie z dnia 24.09.2023 - dot. zapytania ofertowego 10/2023 i 11/2023
2. Odpowiedź nr 2 na pytanie z dnia 27.09.2023 – dot. zapytania ofertowego 18/2023
3. Odpowiedź nr 3 na pytanie z dnia 28.09.2023 – dot. zapytania ofertowego 16/2023
4. Odpowiedź nr 4 na pytanie z dnia 28.09.2023 – dot. zapytania ofertowego 1/2023, 3/2023, 4/2023,
Komunikacja w postępowaniu o udzielenie zamówienia, składanie ofert, wymiana informacji (składanie pytań do zamówienia) oraz przekazywanie dokumentów i oświadczeń odbywa się pisemnie za pomocą maila: fortacokn@bldg.pl
Operations Expansion in Narva
Great news to our old and new customers - Fortaco Estonia expands its capacity again.
Fortaco Estonia OÜ and Systemair AS the owner of the real estate housing Well Technology OÜ have signed an agreement where Fortaco Estonia OÜ expands its operations into the Well Technology building.
The extension creates additional 8.000 m2 floor space for Narva Business Site operations, allowing us to serve the old and new customers and also create a workplace for approx. 40-50 new employees in the beginning.
The plan is also to invest approximately 7 MEUR in an advanced production specialization line with prefabrication equipment, welding robots, and CNC-machinery centres, including painting.
Fortaco is a flexible and reliable strategic partner for steel fabricated components in Europe and this extension is a great confirmation on it.
Read the whole press release here.
Learning from the Leader
Toyota has always been a great inspiration for Fortaco. ????
There is so much to learn from the global leader of automotive industry, even though we do not manufacture cars in big series.
Since 2018, Fortaco has been visiting Toyota - nearly 100 of our team members have taken part in their one- or three-day events which are focusing on Lean, people driven Leadership which is critical for the sustainable continuous improvement. ↗️
Some of the events were led by professor Jefrey K. Liker, the author of ”The Toyota Way”.
The driving theme is Toyota’s scientific approach to achieve goals and solve problems. To develop such daily routines, we need to have an understanding on every level of organization, including our top leaders and investors, managing directors, People & HR team, middle managers and support functions.
We are grateful for Toyota for openness, deployment of senior leaders, and sharing insight in Toyota Production System - Thank you! ☀️
Steel Fabrication Expansion
Capacity extension project in the Gliwice, Poland, has started.
New Business Site will offer expanded footprint for our Steel Fabrication operations, and additional efficiency based on a high degree of automation and strong operational excellence.
The Greenfield investment consists of a covered production area of 34.000 m2 and new equipment. Construction work will start H1-2023 and operations will start next year.
The new Business Site will offer work for 250 new employees. Mr. Jaroslaw Szytow has been appointed General Manager.
”The Business Site located in Knurow is strategically important to further support our customers”, says Lars Hellberg, President & CEO of Fortaco Group.
Resolutions of Fortaco Group Holdco Oyj’s shareholder on 14.6.2023 on the matters belonging to the General Meeting
Fortaco Group Holdco Oyj’s sole shareholder has made a unanimous written decision without convening a General Meeting in accordance with chapter 5, section 1 of the Finnish Companies Act (624/2006, as amended) in the following matters falling under the competence of the General Meeting.
1. Adoption of the financial statements
It was resolved to adopt the financial statements for the financial year from 12 April 2022 to 31 December 2022.
2. Treatment of profit shown on the balance sheet
It was resolved to approve the proposal of the Board of Directors and the recommendation of the Supervisory Board of Directors that the result of the financial year is transferred to the profit and loss account for the previous years and that no dividend shall be distributed.
3. Discharge from liability
It was resolved to discharge the members of the Supervisory Board of Directors and the Board of Directors as well as the Managing Director of the company from liability from the financial period form 12 April 2022 to 31 December 2022.
4. Number of members of the Supervisory Board of Directors, their election and remuneration
It was resolved that the number of ordinary members of the Supervisory Board of Directors shall be six (6).
It was resolved to elect Panu Routila (chair), Johann-Melchior Ritter und Edler von Peter, Marc Lindhorst, Markus Sjöholm, Sebastian Schatton and Mona Henning to the Supervisory Board of Directors of the company.
It was resolved that the members of the Supervisory Board of Directors shall be remunerated as follows:
- Panu Routila shall be paid an annual fee of EUR 52,800 in monthly instalments and
- Markus Sjöholm shall be paid an annual fee of EUR 40,000 in monthly instalments.
Other members of the Supervisory Board of Directors shall not be remunerated.
5. Number of members of the Board of Directors, their election and remuneration
It was resolved that the number of members of the Board of Directors shall be one (1) ordinary member and one (1) deputy member.
It was resolved to re-elect Lars Hellberg as ordinary member (chair) and Kimmo Raunio as deputy member of the Board of Directors.
It was resolved that the members of the Board of Directors shall not be remunerated.
6. Election of auditor
It was resolved to re-elect certified accountant corporation Ernst & Young Oy as the auditor of the company, responsible auditor being certified public accountant Anders Svennas.
7. Resolution on the remuneration of the auditor
It was resolved that the auditor is paid reasonable remuneration in accordance with the invoice approved by the company.
Fortaco Group Holdco Oyj
Board of Directors
Further information:
Lars Hellberg
President & CEO
+358 40 572 9488
lars.hellbergfortacogroup.com
Kimmo Raunio
Senior Executive Vice President & CFO
+358 40 593 6854
kimmo.raunio@fortacogroup.com
Distribution
Nasdaq Helsinki Oy
Principal media
http://investors.fortacogroup.com
Fortaco Group
Fortaco is the leading strategic partner in Europe to the heavy off-highway equipment and marine industries providing premium offerings, like zero emission solutions and technology, vehicle cabins, steel fabrications, and assemblies. Fortaco Group has operations in multiple European and Asian Business Sites and Technology Hubs, which are supporting our global customers. www.fortacogrop.com
Categories: Stock exchange releases
Strong Cabin Alliance
Fortaco Group has acquired MauserCABS to reinforce its position as one of the leading vehicle cabin technology and manufacturing business partners in Europe.
MauserCABS is a high-precision manufacturer of safety cabins operating in international markets. It employs more than 300 people at a modern factory located in Breitenau, Austria.
Acquisition will expand Fortaco’s geographical footprint and broaden our cabin offerings in Europe, India and the US. With Buisard, MauserCABS, and Tata AutoComp, we are one of the leading and most experienced operator cabin manufacturers in Europe and India. Together we offer high quality vehicle cabins, technology development, and a high degree of automated manufacturing to the off-highway equipment OEMs.
”MauserCABS is a highly recognized cabin manufacturer with spare parts aftermarket services and technical engineering support. I am excited to start working with the experienced MauserCABS team”, says Lars Hellberg, President & CEO for Fortaco Group.
Read the press release here
Correction: Fortaco Group Holdco Oyj’s Interim Review January-March 2023 (Unaudited, IFRS): Net sales and profitability developing positively during the period
Fortaco Group Holdco Oyj | 29.5.2023 16:30 EEST | Stock Exchange Release
Correction to the English translation of the Stock Exchange Release 29.5.2023 14:00 EEST where Fortaco Group Holdco Oyj released their Interim Review.
The sentence, where company announced it has signed an agreement on the acquisition of the entire share capital of Walter Mauser GmbH, has been corrected. Also, Kimmo Raunio’s title has been corrected. Attachment to Finnish version has been added.
The original release containing the corrections is presented below:
Fortaco Group Holdco Oyj Stock Exchange Release 29.5.2023 at 2.00 p.m.
This release is a summary of Fortaco Group Holdco Oyj’s Interim Review January-March 2023. The full release is attached and available on our website at http://investors.fortacogroup.com.
Figures in parentheses refer to the corresponding period of the previous year, unless otherwise stated.
Highlights: January-March 2023
- Net sales was EUR 96.1 million (comparable net sales growth 31.1%).
- Recurring EBITDA was EUR 8.2 million (8.5% of net sales, comparable growth in recurring EBITDA 55.9%). EBITDA was EUR 7.4 million (7.7% of net sales).
- Recurring EBITA was EUR 5.7 million (5.9% of net sales, comparable growth in recurring EBITA 98.3%). EBITA was EUR 4.9 milllion (5.1% of net sales).
- Net debt was EUR 51.3 million and net debt to comparable recurring EBITDA 1.9x.
- Order intake during the review was good, with the order book at the end of the review period growing moderately compared to the end of 2022.
- Profitability was supported by price increases corresponding to high cost inflation. The price increases were made effective during the review period.
- During the review period Fortaco established Zero Emission Solutions business, which offers new solutions and services to the customers.
- Capacity expansion investment in Holic, Slovakia was progressing as planned.
Key Figures
Fortaco Group key financials
| MEUR, IFRS | 1-3/23 | 1-3/22 | Change % | 1-12/22** | Last 12 months |
| Reported | |||||
| Net sales | 96.1 | N/A | N/A | 94.9 | N/A |
| EBITDA | 7.4 | N/A | N/A | 0.6 | N/A |
| % of net sales | 7.7% | N/A | N/A | 0.7% | N/A |
| EBITA | 4.9 | N/A | N/A | -2.0 | N/A |
| % of net sales | 5.1% | N/A | N/A | -2.1% | N/A |
| Non-recurring items | 0.8 | N/A | N/A | 4.5 | N/A |
| Recurring EBITDA | 8.2 | N/A | N/A | 5.1 | N/A |
| % of net sales | 8.5% | N/A | N/A | 5.4% | N/A |
| Recurring EBITA | 5.7 | N/A | N/A | 2.5 | N/A |
| % of net sales | 5.9% | N/A | N/A | 2.6% | N/A |
| Comparable* | |||||
| Comparable net sales | 96.1 | 73.3 | 31.1% | 332.4 | 355.3 |
| Comparable EBITDA | 7.4 | 4.9 | 50.3% | 22.8 | 25.3 |
| % of net sales | 7.7% | 6.7% | 6.9% | 7.1% | |
| Comparable EBITA | 4.9 | 2.5 | 92.9% | 13.0 | 15.3 |
| % of net sales | 5.1% | 3.4% | 3.9% | 4.3% | |
| Comparable non-recurring items | 0.8 | 0.3 | 138.6% | 1.8 | 2.3 |
| Comparable recurring EBITDA | 8.2 | 5.3 | 55.9% | 24.7 | 27.6 |
| % of net sales | 8.5% | 7.2% | 7.4% | 7.8% | |
| Recurring EBITA | 5.7 | 2.9 | 98.3% | 14.8 | 17.6 |
| % of net sales | 5.9% | 3.9% | 4.5% | 5.0% | |
| Balance sheet ratios | |||||
| Return on Capital Employed % (ROCE) | 15.4% | N/A | N/A | 10.1% | |
| Equity ratio, % | 24.4% | N/A | N/A | 24.3% | |
| Net debt | 51.3 | N/A | N/A | 52.0 | |
| Net gearing | 89.2% | N/A | N/A | 93.0% | |
| Net debt / comparable recurring EBITDA | 1.9x | N/A | N/A | 2.1x |
*) Figures are referring to the comparable financials of the Group,
which are based on the full year 2022 financials of the acquired Fortaco Group.
**) Period 12.4.2022-31.12.2022 for reported figures
Guidance for 2023
For 2023, net sales are expected to be higher than EUR 350 million (comparable net sales in 2022: EUR 332.4 million) and recurring EBITDA higher than comparable recurring EBITDA in 2022 (comparable recurring EBITDA in 2022: EUR 24.7 million).
Lars Hellberg, President & CEO comments
The first quarter of 2023 remained positive for us. Our customers’ good order intake was reflected in our business, which continued on a healthy level throughout the first quarter. Recently, we managed to win new customers and products in, for example, the defense industry. New businesses are now in the implementation phase, contributing to the increasing net sales outlook in 2023. Our net sales also increased by approximately 30 percent, compared to the same period in 2022.
At the end of the last year, we managed to transfer essentially all extraordinary cost increases related to energy and salary to our customer contracts. We also continued the geographical regionalization of our business. Our customers are increasingly focused on Europe, Asia, and the United States. Our strategic ambition is to actively increase offerings to the US market, and therefore we have assigned a specific business development team to explore our GoWest strategy.
Among our customer segments, the mining industry continued to be strong, but the marine, offshore and energy markets remained at a disappointingly low level. Demand in the container handling, forestry, and material handling segments was at a stable level. We see strong growth opportunities, especially in the defense sector.
Our new business area, Zero Emission Solutions, focuses, among other things, on the development of fossil-free steel applications and components for customers. It also offers solutions for integrated thermal management, both for the air conditioning of operator cabins and the charging of electric vehicle batteries. In addition, we are exploring opportunities for charging on-grid, as well as off-grid solutions, in close cooperation with professional OEMs (Original Equipment Manufacturers).
Our investment in additional capacity at Business Site Holic in Slovakia, is progressing at full speed. Our partnership with Buisard Cabins is maturing and more business opportunities are in the pipeline. The SAP S4/Hana -project is progressing as planned. The definition phase of “One Fortaco” business processes will be completed in the third quarter, and the first planned deployment will take place in January 2024.
We employ almost 2,500 people in eight different countries. The availability of skilled labor is currently challenging, and there is a shortage of welders and machine operators in particular. During the current year, we will strengthen our competence in terms of sustainable development in order to enhance measures to reduce global warming by 1.5 degrees.
Despite uncertainties in the global situation, we have a healthy business outlook for 2023. Our strategy is to grow both organically and inorganically and continue offering added value products and solutions to our customers internationally.
Events after the reporting period
Fortaco Group Holdco Oyj has on 22 July 2022 issued Senior Secured Bonds with a principal amount of EUR 75 million. In accordance with the Terms and Conditions of the Bonds, the Company has applied for the Bonds to be listed on the corporate bonds list of Nasdaq Helsinki Ltd. The Finnish Financial Supervisory Authority has on 23 May 2023 approved the Listing Prospectus of the Bonds and trading on the Bonds has commenced on 25 May 2023.
On 26 May 2023 Fortaco announced that a fully-owned affiliate of Fortaco Group Holdco Oyj has signed an agreement on the acquisition of the entire share capital of Walter Mauser GmbH, a high-precision manufacturer of safety cabins operating in international markets. The closing of the acquisition is estimated to take place during Q3 2023, provided that certain customary conditions for acquisition are met, including obtaining of the financing and necessary regulatory approvals. Mauser CABS will be reported as a part of Fortaco Group from the moment of closing.
Financial information
The company publishes the Half-Year Review for January-June 2023 on Monday 28 August 2023.
Fortaco Group Holdco Oyj
Board of Directors
Further information
Lars Hellberg, President & CEO, 358 40 572 9488, lars.hellbergfortacogroup.com
Kimmo Raunio, Senior Executive Vice President & CFO, +358 40 593 6854, kimmo.raunio@fortacogroup.com
Distribution
Nasdaq Helsinki Oy
Principal media
http://investors.fortacogroup.com
Fortaco Group
Fortaco is the leading strategic partner in Europe to the heavy off-highway equipment and marine industries providing premium offerings, like zero emission solutions and technology, vehicle cabins, steel fabrications, and assemblies. Fortaco Group has operations in multiple European and Asian Business Sites and Technology Hubs, which are supporting our global customers. www.fortacogroup.com
Categories: Stock exchange releases