The Annual General Meeting of Patria Holding Oyj on 5 April 2011

The Annual General Meeting of Patria Oyj adopted the Consolidated Financial Statements for the financial period that ended on 31st December 2013.

Patria Group’s net sales for 2013 totalled EUR 824.8 million (EUR 736.1 million in 2012), up by 12%. Defence solutions and their lifecycle business accounted for 91% (91%) and civilian products for 9% (9%) of net sales, while 65% (59%) of net sales were accrued from abroad.

The Group’s operating profit was EUR 97.1 million, representing 11.8% of net sales (2012: EUR 87.0 million, 11.8%). Consolidated income before taxes amounted to EUR 93.6 million (EUR 84.6 million), and the Group’s return on equity was 21.9% (23.1%).

It was decided to discharge the members of the Board of Directors and the President from liability for the financial period of 2013. Furthermore, the Annual General Meeting decided, according to the Board of Directors’ proposal, to distribute a dividend of EUR 1,00 per share, totally EUR 38 024 848,00, representing about 57 % of Group’s profit.

It was resolved to remove the age limitation of the Board members from the Articles of Association according to the recommendations of the Ownership Steering Department. The shareholders were also informed of Patria’s development and cost-saving program, for the strategy period 2014-2016, with a EUR 50 million cost effect goal during the next three years.

Christer Granskog, MSc (Eng.) will continue as the Chairman of the Board of Directors of Patria Oyj, and Kirsi Komi, Master of Laws, as the Vice Chairman. Of the other members of the Board of Directors, Arto Honkaniemi, Senior Financial Counsellor, Prime Minister’s Office, Ownership Steering Department, Jussi Itävuori, Senior Partner, RJI Partners Limited, Kari Rimpi, Lieutenant General retired and Maximilian Thomasius, Head of Participation Management, Airbus Group, will continue as members.

Raimo Vistbacka, Master of Laws, will continue as the Chairman of Patria Oyj Consultative Committee and Thomas Blomqvist, M.P., as the Vice Chairman. Of the other members, Jussi Karimäki, Equipment Assembler, Patria, Juha Kuusi, System Specialist, Patria, Seppo Kääriäinen, M.P., Petri Peltonen, Director General, Department of Enterprise and Innovation, Ministry of Employment and the Economy, Tuula Peltonen, M.P., Juha Rannikko, Vice Admiral, Chief of Defence Command Finland, Kari Tolvanen, M.P. and Petri Pitkänen, Workshop Manager, Patria will continue as members. Ilkka Kokko, Systems engineer, Patria was appointed as the new member of the Consultative Committee.

PricewaterhouseCoopers Oy (PwC), Authorised Public Accountants, was chosen as Auditor. Mr Jouko Malinen, MSc (econ.), APA will be the partner in charge of the audit.

Further information:
Birgitta Selonen, Vice President Corporate Communications, Patria Group,
phone +358 40 869 2043 , [email protected]

Patria is a trusted provider of defence, security and aviation life cycle support services and technology solutions. Patria is owned by the State of Finland (73.2%) and the European Aeronautic Defence and Space Company EADS N.V. (Airbus Group) (26.8%).
www.patria.fi