|
|||
2010-11-03 08:00:00 CET 2010-11-03 08:00:52 CET REGULATED INFORMATION Aldata Solution Oyj - Interim report (Q1 and Q3)ALDATA SOLUTION OYJ'S INTERIM REPORT JANUARY-SEPTEMBER 2010 (UNAUDITED)Aldata Solution Oyj STOCK EXCHANGE RELEASE 3 November 2010, at 9.00 a.m. (EET) ALDATA SOLUTION OYJ'S INTERIM REPORT JANUARY-SEPTEMBER 2010 (UNAUDITED) Aldata continues to deliver year on year revenue growth and profitable operating results in slow market conditions * Software license sales, excluding third party products, grew on a year on year comparison for the fifth quarter in a row * Total revenue grew on a year on year comparison for the fifth quarter in a row generating a profitable operating result (EBIT) * No change to full year outlook of slight revenue growth compared to 2009 levels and operationally profitable (EBIT), for the full year Aldata in Q3 2010 (compared to Q3 2009) * Net sales increased by 2.2% to EUR 17.1 million (EUR 16.7 million). * Gross profit increased by 7.8% to EUR 16.0 million (EUR 14.8 million). * Operating profit, EBIT, decreased to EUR 0.1 million (EUR 0.4 million). * Profit before taxes was EUR -1.1 million (EUR -0.1 million). * Net profit was EUR -1.2 million (EUR 0.0 million) and earnings per share, EPS, were -0.018 EUR (0.000 EUR). * Cash flow from operating activities was EUR -0.8 million (EUR -0.2 million). * Cash, cash equivalents and marketable securities amounted to EUR 4.3 million (EUR 11.4 million) and the Group had interest-bearing debt EUR 11.2 million (EUR 15.6 million). Aldata in January - September 2010 (compared to January - September 2009) * Net sales were EUR 54.0 million (EUR 49.7 million). * Gross profit was EUR 49.0 million (EUR 45.1 million). * Operating profit, EBIT, was EUR 1.0 million (EUR -6.5 million) and profit before taxes was EUR 0.9 million (EUR -7.2 million). * Net profit was EUR 0.1 million (EUR -7.4 million) and earnings per share, EPS, were 0.002 EUR (0.107 EUR). Bertrand Sciard, President and CEO In Q3 2010, a traditionally quiet quarter for European business, Aldata has continued the positive growth directions set in the previous quarters of 2010 with a year on year increase in sales revenues and continued pipeline development. The retail and distribution market, like many others, still remains challenging with both existing and potential customers deliberating long and hard over all new investments. Our customers base their investments on their own customers spending trends and in the current macro-economic environment these are very difficult to predict. Our deal flow predictability mirrors this uncertainty and the conservative view we have adopted on forecasting new business and revenue recognition is proving prudent in managing our resources and investment. Against this backdrop of continuously tough business conditions I am pleased that we have been able to deliver year on year revenue growth, which is a key indicator for us. However, our profitability in Q3 did not meet our longer term objectives. Q3 is traditionally our lowest operating profit quarter due primarily to the impact of European summer holidays on services revenue. In addition, we have again chosen to maintain a slightly higher level of resources than our current demand requires, allowing us the flexibility to quickly react to some anticipated increased customer demand across the variety of geographies that we cover. A number of one off, infrastructure related projects have also contributed to the lower operating profits reported to date during 2010, but these will provide us with operational efficiencies in the future. The Cosmic Solutions acquisition made in Q2 2010 is integrating well with complimentary deals emerging from the planned product synergies between business units and the geographical synergies for the business unit outside of their UK home market. The Apollo acquisition made in Q4 2008 continues to expand its own customer base with new wins around the globe and successful roll outs such as those presented by the Delhaize Group at our European customer conference in Amsterdam during September and by Kroger in our USA customer conference in October. Both of these globally important retailers demonstrated substantial value delivery from their long term use of Aldata solutions. The validity of our integrated retail process optimization strategy that was the foundation for our acquisitions of both the Apollo and Cosmic businesses is being demonstrated by deals such as Alko, Finland's state owned alcohol distributor. This existing customer purchased additional Supply Chain modules along with new software for Space Optimization in one combined contract, with the additional option to purchase the Assortment Optimization products acquired with Cosmic Solutions. Our new Microsoft Dynamics® AX based retail applications development is progressing to plan. We are already receiving enquiries from Microsoft resellers around the globe and will launch the first set of products for Fashion, DIY, Home Electronics, and Restaurant customers, in conjunction with Microsoft, at the NRF Show in New York in January 2011. The newly established logistics sales unit in the USA is establishing a growing pipeline for our unique Voice Directed Warehousing product line in cooperation with major industry partners including IBM, Motorola, and LXE. Another US partner initiative that is promising good returns is our expanded services agreement with HP to address large retailer business process improvement opportunities. As we are starting the final quarter of 2010 I believe that Aldata has managed to hold a steady business course during a tough year and by astute acquisitions grown both our market presence and reputation in the retail and distribution sector during a period of very slow economic growth. Aldata in the third quarter of 2010 July - September 2010 Financial performance The Group's net sales were EUR 17.1 million (EUR 16.7 million), which represents an increase of EUR 0.4 million compared to third quarter net sales in the previous year. Product sales, which include licenses for standard products, licenses for customer specific developments and maintenance revenues, accounted for 63% (55%) of total net sales. Consulting services accounted for 35% (36%), and third party licenses and hardware accounted for 2% (9%). The Group's gross profit was EUR 16.0 million (EUR 14.8 million), which represents a 94% (89%) gross margin. Operating profit, EBIT, totalled EUR 0.1 million (EUR 0.4 million) and operating profit excluding expenses for option plans and restricted share units (RSU) was EUR 0.2 million (EUR 0.5 million). Pre-tax profit was EUR -1.1 million (EUR -0.1 million), net profit was EUR -1.2 million (EUR 0.0 million) and earnings per share, EPS, were -0.018 EUR (0.000 EUR). Research and development costs in the third quarter totalled EUR 2.3 million (EUR 2.1 million), of which EUR 0.1 million (EUR 0.1 million) or 2.9 % were capitalized. EUR 0.1 million (EUR 0.2 million) of capitalized development costs were amortized. Aldata's reported order backlog includes product and third party product sales that will be recognized as revenues during the following twelve months. At the end of September 2010, the order backlog was EUR 24.9 million (EUR 22.9 million at the end of September 2009 and EUR 21.6 million at the end of year 2009). Business units in Q3 2010 Net sales of the Supply Chain Management (SCM) Software business unit were EUR 12.1 million (EUR 12.6 million). The gross profit was EUR 11.2 million (EUR 11.4 million) and the operating profit, EBIT, was EUR 0.6 million (EUR 1.2 million). Net sales of the In-Store Software business unit were EUR 5.0 million (EUR 4.1 million). The gross profit was EUR 4.8 million (EUR 3.5 million) and the operating profit, EBIT, was EUR 0.1 million (EUR 1.1 million). There were no internal sales between the Group's business segments. Unallocated costs, the Group's shared items netted, decreased the Group's operating profit, EBIT, by EUR 0.6 million (EUR 2.0 million). The method of allocating the unallocated costs has changed in 2010, resulting in a lower unallocated cost remaining at the group level. Finance and investments Cash flow from operating activities in the third quarter was EUR -0.8 million (EUR -0.2 million) and net cash flow was EUR -0.6 million (EUR -0.5 million). The Group's capital expenditure on hardware and software purchases amounted to EUR 0.2 million (EUR 0.6 million) in third quarter of the year. Research and Development In the third quarter Aldata's research and development costs were EUR 2.3 million (EUR 2.1 million). A total of EUR 0.1 million (EUR 0.1 million) of development costs were capitalized during the quarter. EUR 0.1 million (EUR 0.2 million) of capitalized development costs were amortized in the quarter. Aldata in January-September of 2010 January-September 2010 financial performance The Group's net sales were EUR 54.0 million (EUR 49.7 million), which represents an increase of EUR 4.3 million compared to first three quarters net sales in the previous year. Product sales, which include licenses for standard products, licenses for customer specific developments and maintenance revenues, accounted for 60% (58%) of total net sales. Consulting services accounted for 36% (37%) and third party licenses and hardware accounted for 4% (5%). The Group's gross profit was EUR 49.0 million (EUR 45.1 million), which represents a 91% (91%) gross margin. Operating profit, EBIT, totalled EUR 1.0 million (EUR -6.5 million) and operating profit excluding expenses for option plans and RSU's was EUR 1.3 million (EUR -6.2 million). Pre-tax profit was EUR 0.9 million (EUR -7.2 million), net profit was EUR 0.1 million (EUR -7.4 million) and earnings per share, EPS, were 0.002 EUR (-0.107 EUR). Research and development costs in the financial period totalled EUR 7.2 million (EUR 7.0 million), of which EUR 0.2 million (EUR 0.4 million) or 3.0% were capitalized. EUR 0.4 million (EUR 0.4 million) of capitalized development costs were amortized. Taxes for the period were EUR 0.7 million (EUR 0.2 million). Business Units in January-September 2010 Net sales of the Supply Chain Management (SCM) Software business unit were EUR 37.9 million (EUR 36.4 million). The gross profit was EUR 34.8 million (EUR 34.2 million) and the operating profit, EBIT, was EUR 1.1 million (EUR -1.9 million). Net sales of the In-Store Software business unit were EUR 16.1 million (EUR 13.3 million). The gross profit was EUR 14.1 million (EUR 11.4 million) and the operating profit, EBIT, was EUR 1.4 million (EUR 3.1 million). There were no internal sales between the Group's business segments. Unallocated costs, the Group's shared items netted, decreased the Group's operating profit, EBIT, by EUR 1.6 million (EUR 7.8 million). The method of allocating the unallocated costs has changed in 2010, resulting in a lower unallocated cost remaining at the Group level. Finance and investments Cash flow from operating activities in January-September 2010 was EUR 0.7 million (EUR -3.2 million) and net cash flow was EUR -1.3 million (EUR -4.0 million). At the end of September 2010, Aldata Group's cash, cash equivalents and marketable securities amounted to EUR 4.3 million (EUR 11.4 million) and total assets were EUR 54.4 million (EUR 58.2 million). The Group had interest-bearing debt EUR 11.2 million (EUR 15.6 million) and interest-bearing net liabilities totalled EUR 6.9 million (EUR 4.2 million). Short term receivables totalled EUR 23.0 million (EUR 22.6 million). The Group's solvency ratio was 36.4 % (27.4%) gearing was 30.7 % (26.5%), and shareholders' equity per share was 0.286 EUR (EUR 0.231). The Group's capital expenditure on tangible and intangible assets amounted to EUR 3.3 million (EUR 1.1 million) during the first three quarters. A total of EUR 0.4 million (EUR 0.4 million) of development costs were capitalized during the period. Research and Development Aldata's research and development costs in January-September 2010 were EUR 7.2 million (EUR 7.0 million) and made up 13.3% (14.2%) of net sales. A total of EUR 0.2 million (EUR 0.4 million) of development costs were capitalized during the period. EUR 0.4 million (EUR 0.4 million) of capitalized development costs were amortized. At the end of the review period 129 (138) employees were involved in R&D activities which represents 24% (26%) of the Group's total employed personnel. In addition Aldata had 100 (72) contracted offshore resources involved in R&D activities. These resources are located in Paris, France, in Vantaa, Finland and in Bangalore, India. Personnel Aldata Group employed 540 (520) persons at the end of September 2010, and on average had 528 (543) employees during the period. 30 September 2010 30 September 2009 By business unit Persons % Persons % SCM Software 367 68 378 73 In-Store Software 157 29 127 24 Group Administration 16 3 14 13 Total 540 100 520 100 Approximately 46% of personnel were employed by Aldata companies in France, 14% in Finland, 12% in the US, 10% in Germany, 8% in the UK, 5% in Sweden, 4% in Slovenia and 1% in Russia. New Long-Term Incentive Scheme Aldata Solution Oyj's Board of Directors has decided to adopt a new equity based long term incentive scheme for Aldata's President and CEO Mr. Bertrand Sciard. The scheme supplements, and partly replaces, existing schemes and includes 1,200,000 restricted share units ("RSU") issued by Aldata to Mr Sciard. The potential payment shall be made in 2013 subject to Mr Sciard being employed by Aldata or its group companies. Aldata may choose to disburse the reward as either shares, cash or a combination of shares and cash settlement. The scheme includes customary provisions regarding due payment of incentives upon change of control. The theoretical market value of the scheme is EUR 660.000,00, calculated as 1.200.000 shares valued at 0.55 per share, being the closing price on Friday, August 13, 2010. Share performance and ownership The highest price of the Aldata Solution Oyj share during January - September 2010 was EUR 0.77 and the lowest price EUR 0.45. The average price was EUR 0.60 and the closing price EUR 0.57. The trading volume on the Helsinki Stock Exchange was EUR 17.0 million and altogether 28.3 million shares were traded, which represents 41% of the shares. Aldata Solution Oyj has 68.7 million shares outstanding. The number of shares outstanding has remained unchanged during the period. The number of shareholders was 5034 and the free float was 100% of the share capital at the end of September 2010. A total of 34.2% of Aldata Solution Oyj's shares were owned by foreign investors at the end of the period. Aldata Solution Oyj has one share series and all the company's shares carry equal voting and dividend rights. Risks and uncertainty factors Near term risks and uncertainties Near term risks and uncertainties are considered by Aldata as those that may materialize in the next two quarters. Aldata accounts for its revenue in accordance with IFRS guidelines, meaning license revenue is typically booked on contract signature whereas services and maintenance revenue is booked over the life of the project. This means that software license revenue is more risky and harder to forecast. The management team complete regular reviews and assessments of the software pipeline to mitigate this risk, although it is not possible to remove the risk completely. The economic environment has been very challenging for approximately two years and this has increased the number of companies who face financial problems, which could be seen as a factor in the increased time taken to settle invoices. Aldata does business in most areas of the world and some areas are able to withstand the current business environment better than others. There are also different cultures towards the prompt payment of invoices that Aldata is exposed to, due to these business areas. These factors, either singularly or combined, might increase Aldata's risk to be able to collect payment for its services provided. Aldata looks to mitigate this risk by using business standard credit assessment and credit control policies to ensure any potential risks are highlighted at an early stage and any necessary action to reduce the risk is taken. It is however not possible to remove this risk completely from Aldata's day to day operations. Aldata's net cash position is lower than our normal level which is mainly due to the seasonality of our maintenance invoicing and the quiet Q3 period. Whilst the management do not see this as a specific short term risk, the current low level of net cash places an increased importance on our cash collection. A large proportion of Aldata's services revenue is done on a time and materials basis. If there was a weakening in demand, as we saw at the start of 2009, this would lead to lower utilization and pressure on margins if Aldata was unable to adjust its cost base fast enough. However, Aldata foresees that the risks of further large-scale deterioration of the IT market situation have declined from the start of 2009. Aldata's US subsidiaries currently have large amounts of intercompany loans outstanding that are denominated in euro. The recent volatility in the US dollar to Euro exchange rate has caused significant gains and losses in Q2 and Q3 respectively. As these loans are not due to mature in the short term, Aldata's net profit will continue to be at risk to significant movement in this exchange rate. As there is no impact to operating profit (EBIT) or actual cash flow, Aldata currently chooses not to try and mitigate this risk. Long term risks and uncertainties Long term risks and uncertainty factors associated with Aldata's business are mainly related to general economic development and more specifically on the retail software market. Global economic uncertainty remains and this continues to affect Aldata's operations. Whilst there have been some signs of a recovery, it has not yet started, and if the anticipated recovery doesn't happen, is significantly delayed, or even there is a worsening of the economic situation, this may result in delays to both ongoing or new large projects and investment decisions. Business risk management is a key target of the operational management. Through it, the Company aims to ensure that the key risks to which business operations are exposed are identified and monitored for preventative action. Business risks are monitored within the Company by the President and CEO, the Corporate Management Team and the Management Council. With the increased importance of the US market to Aldata, the group will become more exposed to currency risk as the movement between the Euro and the US dollar has been quite significant during the last 12 months. Aldata chooses not to hedge against these movements as it believes there is a natural hedge built into the business due to the US based cost structure that it carries. This means, that whilst the risk to Aldata's operating profit is reduced to a level that Aldata feels is acceptable, there is a risk to the level of revenue that Aldata reports that is directly affected by the Euro to US dollar exchange rate movement. Goodwill was tested during the last quarter of 2009 and in accordance with the results of testing for impairment, no depreciation of goodwill was made. The impairment testing is based on projected future cash flows and if the respective country's projected cash flows do not occur as planned in the medium term, it is possible that the goodwill allocated to one of the country's units will need to be impaired. No new impairment tests have been completed at the end of Q3 2010 as most businesses and territories were either on or close to their projected future cash flows. Outlook Aldata expects net sales for 2010 to grow slightly on 2009 levels and to generate a profitable operative result (EBIT) for the full-year. Events after the review period There were no remarkable events after the review period. Helsinki, November 3, 2010 Aldata Solution Oyj Board of Directors Further information: Bertrand Sciard, the President and CEO, tel. +358 10 820 8000 / Aldata Solution Oyj. Graham Howell, CFO, tel. +33 633 057 620 Aldata will hold a press conference for the media and financial analysts in Helsinki on 3 November, at 12.00 (EET) at Hotel Palace Gourmet (Eteläranta 10, 10th floor, Merikabinetti). The presentation material will be published on the Group's website at www.aldata-solution.com About Aldata Aldata is a global leader in supplier to consumer business optimization. We help reduce costs, time, and waste, for retailers, distributors, and manufacturers, while improving availability, service, and customer retention. Founded in 1988, Aldata has an unparalleled track record of delivering successful projects for the world's largest retail and consumer brands, wholesale and distribution organizations, and specialist store chains. Aldata Solution is a public company quoted on NASDAQ OMX Helsinki Ltd with the identifier ALD1V. More information at: www.aldata-solution.com. Distribution: NASDAQ OMX Helsinki Ltd Media TABLE PART Calculation methods This interim report has been prepared in accordance with IFRS standards and the same accounting principles as in 2009 financial statements but the report does not comply with all requirements of IAS 34, Interim Financial Reporting. Key figure calculations remain unchanged and have been presented in 2009 Financial Statements. CONSOLIDATED INCOME STATEMENT MEUR MEUR Change % MEUR Jan-Sep/ 2010 Jan-Sep/ 2009 Total 2009 Net sales 54,0 49,7 8,7 % 67,5 Other operating income 0,6 0,5 31,3 % 0,7 Operating expenses -52,5 -55,5 -5,4 % -71,3 Depreciations and impairments -1,3 -1,2 2,2 % -1,7 Operating profit 1,0 -6,5 -115,6 % -4,7 Financial items -0,1 -0,7 -79,3 % -0,7 Profit before taxes 0,9 -7,2 -112,2 % -5,4 Income taxes -0,7 -0,2 366,3 % 1,4 Minority interest 0,0 0,0 -168,6 % 0,0 Profit for the financial period 0,1 -7,4 -101,7 % -4,0 Earnings per share, EUR 0,002 -0,107 -0,057 Earnings per share, EUR (EPS), adjusted for dilution effect 0,002 -0,107 -0,057 Attributable to: Equity holders of the Company 0,1 -7,4 -4,0 Minority interest 0,0 0,0 0,0 Statement of comprehensive income: Net profit for the period 0,1 -7,3 -4,0 Other comprehensive income: Translation differences 0,1 0,1 0,0 Total comprehensive income 0,2 -7,3 -4,0 Total comprehensive income attributable to: Equity holders of the Company 0,2 -7,3 -4,0 Minority interest 0,0 0,0 0,0 CONSOLIDATED BALANCE SHEET MEUR MEUR MEUR 30 Sep 2010 30 Sep 2009 31 Dec 2009 ASSETS NON-CURRENT ASSETS Goodwill 18,9 15,0 16,2 Capitalized development cost 2,8 2,9 2,8 Intangible assets 2,4 1,4 1,4 Tangible assets 1,3 1,3 1,3 Investments 0,1 0,1 0,1 Other long-term assets 0,4 0,4 0,4 Deferred tax assets 1,0 2,6 1,0 NON-CURRENT ASSETS TOTAL 26,9 23,7 23,1 CURRENT ASSETS Inventories 0,2 0,2 0,5 Short-term receivables 23,0 22,6 20,7 Cash and cash equivalents 4,3 11,4 5,6 CURRENT ASSETS TOTAL 27,5 34,5 29,2 ASSETS TOTAL 54,4 58,2 52,3 SHAREHOLDERS' EQUITY AND LIABILITIES Shareholders' equity 19,7 15,9 19,2 Minority interest 0,1 0,1 0,1 Long-term loans 4,2 4,2 3,0 Short-term loans 30,5 38,1 30,0 EQUITY AND LIABILITIES TOTAL 54,4 58,2 52,3 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 1000 EUR Equity holders Share Trans- of Own Share premium lation Retained parent Minority equity TEUR capital fund difference earnings company interest total -------------------------------------------------------------------------------- EQUITY 1.1.2009 687 19 154 708 2 244 22 793 117 22 911 Share based payments recognised against equity 0 0 0 301 301 0 301 Comprehensive income 0 0 113 -7 353 -7 240 -23 -7264 -------------------------------------------------------------------------------- EQUITY 30.9.2009 687 19 154 821 -4 808 15 854 94 15 948 -------------------------------------------------------------------------------- EQUITY 1.1.2010 687 19 154 694 -1 320 19 215 89 19 305 Share based payments recognised against equity 0 0 0 267 267 0 267 Comprehensive income 0 0 64 127 191 16 207 -------------------------------------------------------------------------------- EQUITY 30.9.2010 687 19 154 758 -926 19 673 105 19 779 CONSOLIDATED CASH FLOW STATEMENT MEUR MEUR MEUR Jan-Sep/ 2010 Jan-Sep/ 2009 Jan-Dec 2009 Cash flow from operating activities Operating result 1,0 -6,5 -4,7 Adjustment to operating result 1,1 1,4 -0,3 Change in working capital -1,4 2,1 2,5 Interest received and other financial income 0,4 0,3 0,3 Interest paid and other financial expenses -0,4 -0,4 -1,3 Taxes paid -0,1 -0,1 -0,1 Net cash from operating activities 0,7 -3,2 -3,7 Cash flow from investing activities Group companies acquired -2,0 0,0 0,0 Investments in tangible and intangible assets -0,7 -0,7 -1,0 Net cash used in investing activities -2,7 -0,7 -1,0 Cash flow before financing activities -2,0 -3,9 -4,6 Cash flow from financing activities Short-term loans, received 0,8 0,0 0,0 Short-term loans, repayments 0,0 -0,1 -5,1 Leasing liability, payments 0,0 0,0 -0,2 Net cash used in financing activities 0,8 -0,1 -5,3 Net cash flow, total -1,3 -4,0 -10,0 Change in cash and cash equivalents -1,3 -4,0 -10,0 Cash and cash equivalents in the beginning of the period 5,6 15,4 15,4 Net foreign exchange difference 0,0 0,0 0,1 Cash and cash equivalents at the end of the period 4,3 11,4 5,6 NOTES TO THE INTERIM REPORT COMMITMENTS AND CONTINGENCIES MEUR MEUR MEUR 30 Sep 2010 30 Sep 2009 31 Dec 2009 Loans from financial institutions 10,8 15,2 10,0 Mortgages 5,4 5,4 5,4 Leasing liabilities 6,7 8,6 8,7 Guarantees on behalf of company debt 0,1 0,1 0,1 KEY FIGURES, MEUR Jan-Sep /2010 Jan-Sep /2009 Total 2009 Scope of Operations Net sales, MEUR 54,0 49,7 67,5 Average number of personnel 527 543 538 Profitability Operating profit , MEUR 1,0 -6,5 -4,7 Operating profit, % of net sales 1,9 -13,2 -7,0 Profit before taxes and minority interest, MEUR 0,9 -7,2 -5,4 Profit before taxes and minority interest, % of net sales 1,6 -14,5 -8,0 Return on equity, % (ROE) 1,0 -50,6 -18,8 Return on investment, % (ROI) 13,7 -21,3 -11,2 Financial Standing Quick ratio 0,8 0,9 0,9 Current ratio 0,9 0,9 0,9 Equity ratio, % 36,4 27,4 37,4 Interest-bearing net debt, MEUR 6,1 4,2 4,9 Gearing, % 30,7 26,5 25,2 Per Share Data Earnings per share, EUR (EPS) 0,002 -0,107 -0,057 Earnings per share, EUR (EPS), adjusted for dilution effect 0,002 -0,107 -0,057 Shareholders' equity per share, EUR 0,286 0,231 0,280 SEGMENT INFORMATION, MEUR BUSINESS SEGMENTS Jan-Sep/2010 Jan-Sep/2009 Total 2009 Net sales to external customers Supply Chain Management Software 37,9 36,4 49,5 In-Store Software 16,1 13,3 18,0 Total 54,0 49,7 67,5 Operating result, continuing operations Supply Chain Management Software 1,1 -1,9 -6,0 In-Store Software 1,4 3,1 2,1 Total 2,5 1,2 -3,9 Unallocated items -1,6 -7,8 -0,8 Operating profit 1,0 -6,5 -4,7 Financial income and expenses -0,1 -0,7 -0,7 Result before taxes and minority interest 0,9 -7,2 -5,4 Taxes -0,7 -0,2 1,4 Minority interest 0,0 0,0 0,0 Result from continuing operations 0,1 -7,4 -4,0 Result for the financial period 0,1 -7,4 -4,0 INCOME STATEMENT MEUR MEUR MEUR MEUR MEUR QUARTERLY FIGURES Q3/2010 Q2/2010 Q1/2010 Q4/2009 Q3/2009 Net sales 17,1 18,6 18,3 17,9 16,7 Other operating income 0,4 0,0 0,2 0,2 0,1 Operating expenses -17,0 -18,0 -17,5 -15,8 -16,0 Depreciations and impairments -0,5 -0,4 -0,4 -0,4 -0,5 Operating profit 0,1 0,3 0,7 1,8 0,4 Financial items -1,1 0,8 0,1 0,0 -0,5 Profit before taxes -1,1 1,1 0,8 1,8 -0,1 Income taxes -0,2 -0,1 -0,4 1,6 0,1 Minority interest 0,0 0,0 0,0 0,0 0,0 Profit for the financial period -1,2 1,0 0,4 3,4 0,0 INCOME STATEMENT MEUR MEUR MEUR MEUR MEUR CUMULATIVE 1-9/10 1-6/10 1-3/10 1-12/09 1-9/09 Net sales 54,0 36,9 18,3 67,5 49,7 Other operating income 0,6 0,2 0,2 0,7 0,5 Operating expenses -52,5 -35,4 -17,5 -71,3 -55,5 Depreciations and impairments -1,3 -0,8 -0,4 -1,7 -1,2 Operating profit 1,0 1,0 0,7 -4,7 -6,5 Financial items -0,1 1,0 0,1 -0,7 -0,7 Profit before taxes 0,9 1,9 0,8 -5,4 -7,2 Income taxes -0,7 -0,6 -0,4 1,4 -0,2 Minority interest 0,0 0,0 0,0 0,0 0,0 Profit for the financial period 0,1 1,4 0,4 -3,9 -7,4 BALANCE SHEET MEUR MEUR MEUR MEUR MEUR 30.9.10 30.6.10 31.3.10 31.12.09 30.9.09 ASSETS NON-CURRENT ASSETS Goodwill 18,9 18,9 16,2 16,2 15,0 Capitalized development cost 2,8 2,9 2,8 2,8 2,9 Intangible assets 2,4 2,6 1,3 1,4 1,4 Tangible assets 1,3 1,4 1,3 1,3 1,3 Investments 0,1 0,1 0,1 0,1 0,1 Other long-term assets 0,4 0,4 0,4 0,4 0,4 Deferred tax assets 1,0 0,3 0,9 1,0 2,6 NON-CURRENT ASSETS TOTAL 26,9 26,6 23,0 23,1 23,7 CURRENT ASSETS Inventories 0,2 0,0 0,0 0,5 0,2 Short-term receivables 23,0 24,2 25,0 20,7 22,6 Cash and cash equivalents 4,3 4,9 6,4 5,6 11,4 CURRENT ASSETS TOTAL 27,5 29,1 31,6 29,2 34,5 ASSETS TOTAL 54,4 55,7 54,5 52,3 58,2 SHAREHOLDERS' EQUITY AND LIABILITIES Shareholders' equity 19,7 20,1 19,5 19,2 15,9 Minority interest 0,1 0,1 0,1 0,1 0,1 Non-current liabilities 4,2 3,4 0,6 3,0 4,2 Current liabilities 30,5 32,1 34,4 30,0 38,1 Liabilities 34,7 35,5 34,9 33,0 42,3 EQUITY AND LIABILITIES TOTAL 54,4 55,7 54,5 52,3 58,2 KEY FIGURES, MEUR Q3/2010 Q2/2010 Q1/2010 Q4/2009 Q3/2009 QUARTERLY FIGURES Scope of Operations Net sales, MEUR 17,1 18,6 18,3 17,9 16,7 Average number of personnel 527 522 516 538 543 Profitability Operating profit , MEUR 0,1 0,3 0,7 1,8 0,4 Operating profit, % of net sales 0,3 1,6 3,7 10,3 2,2 Profit before taxes and minority interest, MEUR -1,1 1,1 0,8 1,8 -0,1 Profit before taxes and minority interest, % of net sales -6,2 6,1 4,4 10,2 -0,7 Return on equity, % (ROE) 1,0 14,0 7,6 -18,8 -50,6 Return on investment, % (ROI) 13,7 18,8 14,9 -11,2 -21,3 Financial Standing Quick ratio 0,8 0,9 0,9 0,9 0,9 Current ratio 0,9 0,9 0,9 1,0 0,9 Equity ratio, % 34,8 36,3 36,4 37,4 27,4 Interest-bearing net debt, MEUR 6,1 5,5 4,0 4,9 4,2 Gearing, % 33,0 27,0 20,2 25,2 26,5 Per Share Data Earnings per share, EUR (EPS) -0,018 0,014 0,005 0,050 0,000 Earnings per share, EUR (EPS), adjusted for dilution effect -0,018 0,014 0,005 0,050 0,000 Shareholders' equity per share, EUR 0,286 0,292 0,284 0,280 0,231 [HUG#1458049] |
|||
|