Lappset Group improved its cash flow and solvency 

(26.3.2009) 

Lappset Group Oy has improved its cash flow and solvency in the past year. The group's turnover increased to MEUR 47.6. The parent company's operating profit increased considerably during 2008 from MEUR 2.2 to MEUR 2.9. Lappset strengthened its market position particularly in the Finnish market. The company's equity ratio increased by five percent compared to 2007 to 44.6 %, which strengthened the company's financial standing.

New cooperation agreements in Australia and Japan

According to Managing Director Juha Laakkonen, all businesses active in the playground equipment market are currently facing challenges. Due to the improved equity ratio, the position of the Lappset Group in relation to its competitors is very strong.

- Lappset is a financially sound company, which provides us with valuable means to tackle the current recession. We export our products to more than 40 countries and our international network will now expand to Australia. In addition, we have concluded a new cooperation agreement with the market leader in the field operating in Japan. These cooperation schemes will further consolidate our position in the international markets, says Laakkonen.

The need for play and exercise will grow

Laakkonen predicts that the challenges posed by the current trends of insufficient exercise, obesity and the increase of related illnesses, such as diabetes, will prove to be more significant for the future of the company than the current economic downturn.

- The importance of play and exercise will increase. The Lappset Group has four decades of experience in developing solutions that encourage exercise in all age groups. SmartUs, the interactive playful learning environment developed for the needs of the gaming generation, encourages children to exercise, play and learn new skills in the process. The 0-100 range of exercise equipment for seniors encourages daily exercise and helps maintain general physical health, says Laakkonen.