Displaying items by tag: Vacon

Wednesday, 06 March 2013 09:00

Vacon's Annual Report 2012 published

Vacon has published its Annual Report 2012 in Finnish and English. The reports are available as PDF files on the company website in English at www.vacon.com and in Finnish at www.vacon.fi.

You can order the printed version of the report from the company's website under Investors > Material subscription or by sending an email to This email address is being protected from spambots. You need JavaScript enabled to view it.. The printed reports will be mailed to the shareholders only by request, not automatically. The printed reports will be mailed as of week 13.

Vacon's Corporate Governance Statement and Remuneration Statement 2012 also have been published today on the company's website at www.vacon.com.

VACON OYJ

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Global AC drive manufacturer Vacon is announcing the new VACON® 100 FLOW, an AC drive specially optimized for pump and fan applications, at the electric automation fair SPS IPC DRIVES 2012 in Nuremberg, Germany on 27 November 2012. The new AC drive offers versatile flow control for water & wastewater and building automation applications, further strengthening the wide range of the VACON 100 product family.

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The VACON 100 FLOW is the newest member of Vacon's third-generation VACON 100 product family. Other products in the family include:

  • VACON® 100 multipurpose AC drive
  • VACON® 100 X decentralized IP66/UL Type 4X-enclosed AC drive
  • VACON® 100 HVAC AC drive for building automation applications.

VACON 100 FLOW combines the core design of VACON 100 with dedicated functions that can benefit flow control processes. The new AC drive also improves the efficiency and redundancy of pump systems, offering advanced features such as Multimaster and Multifollower for controlling multiple pumps simultaneously.

VACON 100 FLOW comes with many user-friendly features such as a fully graphical multilingual display, configuration wizards which enable easy setup of the drive, and intuitive built-in block programming functions which allow the AC drive to be tailored for special needs, such as use in retrofit installations.

Easy system integration is made possible with industry-leading on-board Ethernet-based communication protocols such as EtherNet/IP, PROFINET IO and Modbus TCP, a Safe Torque Off (STO) function and ATEX-certified motor over-temperature protection.

VACON 100 FLOW uses environmentally friendly long-life plastic-foil capacitor technology which ensures highest reliability and lowest possible lifecycle cost.

"Pumps, compressors and fans - these applications benefit massively from improvements in energy efficiency and reduced lifecycle costs. In this respect, we think that VACON 100 FLOW offers much more than any other AC drive on the market today," says Heikki Hiltunen, Executive Vice President, Market Operations.

VACON 100 FLOW is available in the power range of 0.55 kW to 160 kW (0.75 HP to 250 HP) and in a voltage range of 230 V to 500 V.

Vacon's stand number at SPS IPC DRIVES 2012 is 1-420.

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Global AC drive manufacturer Vacon rang the NASDAQ Stock Market Opening Bell in New York on Thursday, 15 November 2012.

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The visit to the NASDAQ Stock Market in New York and the Opening Bell Ceremony were part of Vacon's upcoming 20th anniversary in the global AC drives business in 2013. Representing Vacon in the Opening Bell ceremony were, among others, Vesa Laisi, Vacon's President and CEO, and Tom Doring, President, Vacon Inc., Vacon's subsidiary in the United States.

"Vacon has become a truly global company in 20 years. The company has sales offices in 27 countries and production units on three continents, for instance here in the United States. AC drives are one of the best products to improve energy efficiency in industry and in civil engineering. It had been estimated that with energy efficient electric motors which are equipped with AC drives approximately 10% of the world's energy consumption can be cut. I think that Vacon has excellent prerequisites to grow in the future, especially when competing or substitute technical solutions do not exist for AC drives and are not within sight," says Vesa Laisi, Vacon's President and CEO.

The opening and closing bells of the NASDAQ Stock Market in New York mark the beginning and end of the trading day. The ceremony featuring the bell ringer is broadcast live on international news channels, and the event can also be seen on the NASDAQ Tower screen in Times Square.

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Global AC drives manufacturer Vacon has established a regional center in Singapore. The new center started operations in August 2012.

Vacon's regional center in Singapore ensures that Vacon's entire product portfolio and service network offering are available to customers in the region. The center is also in charge of effective sharing of best practices, know-how and the professional personnel that the company already has in the Middle East, India, South East Asia and Pacific region. This will open up new opportunities for Vacon to gain market share and increase volumes in this region with its huge population and great market potential.

"As a major world trade node with a business-friendly economy, Singapore was a logical location for Vacon to establish a regional center. We are at the heart of the region which is one of Vacon's major growth areas," says Olli Tevä, Vacon's Vice President for Middle East, India, SEA, Pacific.

"Singapore has also a rich supply of skilled and experienced workers, which will help us to continuously improve our customer service in the region. As many of Vacon's global customers have their regional offices in Singapore, it will help us in building seamless cooperation with them. This also reflects Vacon's values: keeping customers and partners at the heart of Vacon's operations," concludes Tevä.

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In this stock exchange release Vacon is publishing information included in the interim report that has a significant impact on the value of securities. The full interim report is in the appendix to this release and can be downloaded from the company's website in Finnish at www.vacon.fi and in English at www.vacon.com.

July-September summary: 

  • Order intake totalled MEUR 101.6 (MEUR 83.9), an increase of 21.1 % from the corresponding period in the previous year.
  • Revenues totalled MEUR 101.5 (MEUR 91.1), an increase of 11.4 %.
  • Operating profit was MEUR 10.2, or 10.1 % of revenues, (MEUR 8.2 and 9.1 %), growth of 23.6 %.
  • Net cash flow from operating activities was MEUR 17.4 (MEUR 19.8).
  • Earnings per share were EUR 0.45 (EUR 0.36), an increase of 25.8 %.

January-September summary: 

  • Order intake totalled MEUR 307.4 (MEUR 288.4), an increase of 6.6 % from the corresponding period in the previous year.
  • Revenues totalled MEUR 285.2 (MEUR 293.2), a decline of 2.8 %.
  • Operating profit was MEUR 26.8, or 9.4 % of revenues (MEUR 28.6 and 9.8 %), a decline of 6.4 %.
  • Net cash flow from operating activities was MEUR 37.2 (MEUR 20.6).
  • Earnings per share were EUR 1.20 (EUR 1.29), down 7.1 %.

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General review

Vacon's business developed positively during the third quarter of 2012. Orders, revenues and operating profit increased considerably from the corresponding period in the previous year. The company's profitability, measured in terms of the operating profit percentage, also improved. During the year, Vacon has succeeded in increasing sales to several industrial sectors and consequently succeeded in compensating the sharp fall in the sales of products for renewable energy production.

Growth in Vacon's orders and revenues was strong in the third quarter and in the January - September period especially in China and North America.

Orders received in July - September totalled EUR 101.6 (83.9) million. Orders in the first nine months of the year totalled EUR 307.4 (288.4) million. The order book rose by EUR 22.3 million from the beginning of the year, standing at EUR 58.8 (47.3) million at the end of the period.

Vacon had revenues in the July - September period of EUR 101.5 (91.1) million. Revenues increased 11.4 % from the corresponding period in the previous year. Revenues in January - September were EUR 285.2 (293.2) million, a decline of 2.8 % from the corresponding period in the previous year.

Vacon's revenues rose during the third quarter in line with expectations. January - September revenues were lower than in the period for comparison, which was due to weak demand for products designed for the generation of renewable energy. During the year the company has however succeeded in raising its revenues in other industrial sectors, such as building automation and the marine industries.

Operating profit in July - September was EUR 10.2 million, or 10.1 % of revenues (EUR 8.2 million and 9.1 %). Factors contributing to the improvement in profitability were the increase in revenues in the third quarter, control of costs and savings in material costs. Growth in profitability was restricted however because sales focused on low power equipment.

The operating profit in January - September totalled EUR 26.8 million, or 9.4 % of revenues (EUR 28.6 million and 9.8 %).

The company's balance sheet remained strong and the net cash flow from operating activities was EUR 17.4 million in the third quarter, a decline of EUR 2.4 million from the corresponding period in the previous year. Net cash flow from operating activities in the January - September period totalled EUR 37.2 (20.6) million. Interest-bearing debt at the end of September totalled EUR 22.9 million, but the net debt was negative, EUR -1.7 million. Thanks to the strong net cash flow from operating activities the company's gearing was -1.6 % (10.8 %).

Prospects for 2012

In Vacon's estimation, there are still uncertainties relating to general growth prospects in the economy, and these may affect demand for AC drives in Europe and possibly globally as well. However, Vacon expects demand for products to control electric motors to remain at a good level in many industrial sectors in the final quarter of 2012. Vacon estimates that orders for products for wind power generation will improve slightly in the second half of 2012 from the first half of the year, but order volumes for the whole year will be clearly below their level in 2011.

Market guidelines for 2012

Vacon is retaining the market guidelines for 2012 that it published earlier. Vacon estimates that its revenues will increase and the operating profit percentage excluding one-time items will improve from 2011. In 2011 revenues were EUR 380.9 million and the operating profit percentage excluding one-time items was 9.1 %.

Vacon's target is to achieve revenues of EUR 500 million in 2014. The profitability targets for 2014 are an operating profit of 14 % and a return on equity of more than 30 %.

Formal statement

This release contains certain forward-looking statements that reflect the current views of the company's management. Due to the nature of these statements, they contain risks and uncertainties and are subject to changes in the general economic situation and in the company's business sector.

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Wednesday, 01 August 2012 13:15

Vacon to start repurchases of own shares

The Board of Directors of Vacon Plc has decided to utilize the authorization given by the Annual General Meeting held on 27 March 2012 to repurchase the company's shares.

The maximum number of shares to be acquired is 60,000 corresponding to about 0.39% of the total number of Vacon's shares and votes. The repurchases will decrease the distributable capital and reserves of the company. Vacon currently holds a total of 23,227 own shares, corresponding to approximately 0.15% of the total number of the shares and votes.

The share repurchases will start on 8 August 2012 at the earliest, and end by the end of 2012 at the latest. The shares shall be acquired through public trading on the NASDAQ OMX Helsinki exchange at the market price prevailing at the time of repurchase.

Vacon's Board of Directors has an authorization to acquire 1,450,000 of the company's own shares, which is valid until 30 June 2013.

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Global AC drive manufacturer Vacon strengthens its position as an industry leader in the AC drives market with the announcement of three new products at the Vacon Drives Conference: VACON® 100, VACON® 100 X and VACON® 20 X. All three new products are designed to improve Vacon's wide product offering in a manner that benefits customers and continues to help them optimize efficiency in application processes throughout all industries.

vacon100 opt

The flagship AC drive VACON 100 is one of the most important new products in the company's history. "The VACON 100 is a multipurpose drive that can be adapted for hundreds of different applications. It offers the lowest cost of ownership and the best usability. That's why we're really excited about it," says Heikki Hiltunen, Executive Vice President, Market Operations.

"With the features VACON 100 offers such as an easy-to-use fully graphical multilingual display and extended built-in block programming for drive customization, we're expecting it to be the AC drive of choice throughout a whole range of industries. Pumps, compressors, fans, conveyors - all these are applications which benefit massively from energy efficiency and improved productivity, and this product is ideal for these purposes," Hiltunen continues.

Among its versatile features for easy system integration are a Safe Torque Off (STO) function, on-board Ethernet-based communication protocols such as EtherNet/IP, PROFINET IO and Modbus TCP as well as ATEX-certified motor over-temperature protection.

The VACON 100 X and VACON 20 X are part of Vacon's new range of decentralized AC drives for situations where space comes at a premium. These drives also bring cost savings as no additional enclosures are needed.

"With IP66/Type 4X enclosures, the VACON 100 X and 20 X are ready to be used in harsh conditions," says Hans Carlsson, Product Marketing Director, Motor Drives at Vacon. "By placing the drive as close to the motor as possible or in the most appropriate location allows considerable savings to be achieved as no separate electrical rooms, long shielded motor cables nor drive cabinets are required. This is one of the ways for our customers to achieve the optimum total cost for their drive solution," concludes Carlsson.

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Monday, 11 June 2012 08:39

Vacon has fine-tuned its values

Global AC drives manufacturer Vacon has announced its new fine-tuned values. The renewed values are a result of a one-year-long internal process in all Vacon companies, and they take into consideration the changing business environment.

Vacon's renewed values are: Stronger together, Trust and Respect, Taking ownership and Passion for excellence.

"Vacon's essential value base still remains the same. We have now adjusted and reformulated our values. While we work together according to our commonly agreed values on a daily basis, our operations are consistent and predictable, not only internally but also from the viewpoint of all our important interest groups such as our customers.  The values have a clear connection to our business goals, and they are one of the key elements for our success in the long run," says Vesa Laisi, Vacon's President and CEO.

"One year ago we started a global internal program in Vacon which gave all the employees the opportunity to influence and voice their opinions about Vacon's values, ways of working, collaboration and leadership. We wanted to find all the elements which are shared by Vacon people worldwide. We received a lot of suggestions and comments, and now this feedback is the basis for our new fine-tuned values - the cornerstone of our corporate culture," says Tuula Hautamäki, Senior Vice President of HR at Vacon.

Read more on Vacon's renewed values on Vacon's website at www.vacon.com/values.

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Vacon will publish its Interim Report January - March 2012 on Wednesday, 25 April, 2012 at around 9.30 a.m. Finnish time.

A briefing for the financial analysts and media will be held on the same day at Scandic Simonkenttä (Tapiola Meeting Room), address Simonkatu 9, 00100 Helsinki, at 11:30 am Finnish time (EET) or 10:30 CET. The briefing will be held in Finnish. Please inform Maija Suutarinen of your participation at maija.suutarinen(at)vacon.com no later than 23 April, 2012.

A dial-in conference in English for investors and investment analysts will be held at 3.00 pm (EET) on 25 April 2012. President and CEO Vesa Laisi and Eriikka Söderström, CFO will participate in the conference. Please call +358(0)9 6937 9543 (Finland Toll) or +44(0)20 3364 5381 (UK Toll) and request to be connected to the Vacon call (Confirmation code 6987142). A recording of the conference will be available for seven days at +358 (0)9 2310 1650 (Finland Toll) or +44 (0)20 7111 1244 (UK Toll) and access code 6987142.

The presentation material will be available before the start of the briefing at the Vacon's website www.vacon.com > Investors > Publications and releases.

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Vacon's Board of Directors has confirmed that the bonus in the share bonus scheme for 2011 is 19.8% of the maximum amount. The Board decided to assign 11,781 of the company shares held by the company without consideration to the recipients of the bonus as the share portion of the total bonus. In accordance with the terms of the share bonus scheme, 50% of the total bonus is paid in cash and 50% as shares. For the 2011 earnings period, the recipients of the bonus are 57 persons in corporate management and other positions. The handover date for the shares is 24 April 2012. After handing over these shares, the company holds 23,277 of its own shares.

The Share Ownership Plan includes three earning periods, calendar years 2011, 2012 and 2013. The Board of Directors of the Company will decide on the target group, the Plan's earnings criteria and on targets to be established for them at the beginning of each earning period. The shares paid on the basis of earning periods 2011, 2012 and 2013 may not be transferred during the restriction period, which will end two years from the end of the earning period. Should a target group person's employment or service end during the restriction period, he or she must gratuitously return the shares given as reward to the Company. The members of the Management Team must hold a half of the shares received on the basis of the incentive plan as long as the value of his or her shareholding in total corresponds to the value of his or her gross annual salary. Such number of shares must be held as long as his or her employment or service in a Group company continues.

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