2007-04-26 07:30:45 CEST
2007-04-26 07:30:45 CEST
REGULATED INFORMATION
Satama Interactive - Quarterly report
SATAMA INTERACTIVE GROUP'S INTERIM REPORT 1 JANUARY - 31 MARCH 2007
Satama's Growth Continued and Profitability Improved in the First Quarter
Satama's net sales grew by 21.2% in comparison with the previous year. Net sales
amounted to EUR 9.7 million (EUR 8.0 million). The growth was mainly organic.
Operating profit increased by EUR 0.8 million from the previous year, amounting
to EUR 0.5 million (EUR -0.2 million).
At the end of the period under review, the equity-to-assets ratio was 74.3%
(74.4%).Cash flow was EUR 0.6 million.
The financial information for 2006 has been adjusted to comply with the new
accounting principle for media sales, which has been described later in detail.
CEO Jarmo Lönnfors on the interim report:
I am satisfied about the fact that we were able to produce a clearly positive
result in the first quarter, which in the past has been a difficult quarter for
us. Although we failed to reach our long term performance target, the result
improved by almost EUR 800,000 from the previous year. The growth of our net
sales met the long-term goal of over 20%. In the first quarter, practically all
growth was organic.
“Satama is a Marketing Technology Services Company. We combine talent with
technology to make work and customer dialogue simple, fun and profitable.”
We have worked hard to move ahead in the direction of this new vision. In our
own operations, we have further emphasised the role of marketing and sales. As
an indication of this development we won over a significant number of new
customers during the quarter. We have also continued developing our marketing
and sales services and tools in order to enable our customers to improve sales
and sales management and the profitability of marketing investments.
I am also happy about Satama's success in several key industry competitions.
Satama was recently awarded in the Best of the Year competition, where the Color
the World online campaign developed for Nokia won the first prize in the Digital
Media category. The campaign had already captured the Grand Prix award in the
Grand One competition. Winning awards is of course not an end in itself. Our
main goal is to develop services that create added value for our customers.
However, awards such as these are a great motivation for our employees. In
addition, they reflect Satama's high level of competence in the industry.
For more information, please contact:
Jarmo Lönnfors, CEO, at +358 (0)207 581 717
Martti Ojala, CFO, at +358 (0)207 581 637
Press conference:
Satama will organise a press and analyst conference regarding the Interim Report
on 26 April, 12 noon - 1 pm, at Satama's head office, Henry Fordin katu 6,
Helsinki. Those wishing to participate should contact Nina Pakalen, tel. +358
(0)40 772 3415 or e-mail nina.pakalen@satama.com.
SATAMA INTERACTIVE GROUP'S INTERIM REPORT 1 JANUARY - 31 MARCH 2007
REVIEW OF OPERATIONS
Satama is a marketing technology services company. Satama's strength lies in
combining marketing with information work expertise and technology. In the
period under review, Satama provided its services through offices located in
Helsinki, Tampere, Turku, Amsterdam, Düsseldorf and Stockholm.
The market outlook for Satama's industry remained good during the period under
review. Satama was able to benefit from the positive development of the market
in the first quarter. In comparison with the previous year, Satama Group's net
sales grew by 21.2%. Net sales increased to EUR 9.7 million (EUR 8.0 million).
The Group's operating profit for the quarter amounted to EUR 0.5 million or 5.5%
of net sales (EUR -0.2 million, -3.0% of net sales). An increase from the
previous year amounted to EUR 0.8 million. The main reasons behind the improved
result were more effective sales work, as well as better organisational
efficiency consequencing from the restructuring and focusing of operations
implemented in 2006.
Satama Finland (Satama Finland Oy, Satama MST Oy, Fimentor Oy, and The Uncles
Oy), net sales grew by 25.4%, amounting to EUR 7.9 million (EUR 6.3 million). 90
% of the growth was organic. Satama Finland operated in a profit.
Satama's international units (Satama Amsterdam and OER in the Netherlands,
NeoMotion in Germany, and Satama Sverige in Sweden) grew by 6.3%. The growth was
entirely organic. Net sales amounted to EUR 1.9 million (EUR 1.8 million). The
international operation was profitable.
MARKET REVIEW
Market demand is expected to continue growing in Satama's key markets in the
Nordic region and in Western Europe.
Satama's business operations are influenced particularly by the following strong
market trends: Increasing and diversifying use of the Internet, growth in mobile
services, and the resulting shift of marketing investments from traditional
media to new channels. The change in consumer behaviour resulting from the
development of Internet services, and the performance requirements in
information work, are also important for Satama's future development.
Marketing
The growth of broadband Internet connections is continuing. In the EU, more than
50% of consumers actively use the Internet and over 90% of companies use it in
their business operations.
An increasing portion of marketing investments is shifting towards new channels.
A clear example of this development is the UK, where investments in Internet
advertising grew by 41.2% and amounted to over £2 billion in 2006 according to
Interactive Advertising Bureau Europe. In the UK, the Internet has become a more
popular advertising channel than newspapers, amounting to about 50% of the
market share of television advertising.
Productivity
In the customer organisations in Satama's key markets, content management
systems are being integrated more and more closely into sales, customer service
and financial monitoring systems. With these investments, the organisations aim
to achieve cost savings, as well as additional sales through effective back-end
and user-interface solutions. Forrester expects the IT project business to grow
about 25% by 2011 in Satama's key markets in the Nordic region and in Western
Europe. According to a report published by IDC, investments related to IT
systems are expected to increase by approximately 7% in Europe in 2007.
Mobility
The growth in the use of 3G mobile phones continues especially in Europe. For
the EU, Forrester expects the proportion of mobile phones suitable for Internet
use to exceed 70% and active mobile Internet users to grow to approximately 25%
of all mobile phone users in 2007.
According to the Mobile Media Tracking survey conducted by Satama in January
2007, the diverse use of mobile phones developed further in Finland in 2006. 25%
of the respondents reported having used their mobile phone to browse the
Internet. 31% reported having used their phone to react to a TV or radio
programme or advertisement (in comparison to the 26% reported in the previous
year). The use of multimedia messaging grew from 29% to 41% during 2006.
Text-message-based marketing, which has grown steadily since 2001, seems to have
stabilised at the previous year's level. In 2006, 45% of the population had
received marketing communications to a mobile device.
Trends
According to Gartner, one of the most talked-about Internet phenomena is Web 2.0
thinking, according to which innovation and new business models can be built on
Internet communities, open programming interfaces and citizen journalism faster
than ever before. Gartner also expects the technologies related to the
phenomenon to reach high productivity levels and business value within the next
two years.
Sources: Eurostat 2006, Forrester 2006, IDC 2006, Mobile Media
Tracking 2007, Interactive Advertising Bureau Europe, Gartner 2006, VTT 2006,
SomeLab 2007.
STRATEGY AND BUSINESS OPERATIONS
Services provided by Satama are today organised into three complementary
business areas: Marketing, Productivity, and Mobility.
The Marketing division offers services for the design, implementation and
continuous performance monitoring and analysis of marketing communications. A
typical delivery in the division is a digital marketing campaign aimed to launch
a new mobile phone model and to increase product sales.
The Productivity division designs and implements services that improve
productivity in the areas of sales management and marketing, business
intelligence, e-business and e-services, as well as portals and content
management. A typical delivery in the division is an e-working environment or a
sales and service channel on the Internet.
The Productivity division is more technology-oriented than the Marketing
division. The division has chosen Microsoft expertise as its key technology.
Satama holds six competency designations in the Microsoft Gold Certified Partner
Program, which guarantees that Satama's high-quality expertise in solutions
based on Microsoft technologies. The work of the Productivity division is based
on business-oriented thinking, user insight and strong technological expertise.
The Mobility division offers services that utilise the latest technology in
mobile channels in the areas of marketing and activation campaigns, e-commerce
and e-service solutions, and performance measurement and analysis. A typical
delivery in the division is a marketing and activation campaign targeted at
consumers to improve the sale of services for 3G mobile phones.
Aiming for a change of business model
The need to improve the performance of marketing, sales and information work
will also change Satama's operating model in the future. Our aim is that an
increasing portion of Satama's net sales will be created by tools that improve
productivity especially in sales and marketing, and which are sold to customers
as a continuous service. Developing such services requires strong expertise in
marketing, sales, sales management and technology.
Satama has the following long-term strategic financial objectives:
Net sales: annual growth of more than 20%
Profitability: operating profit accounting for over 10% of net sales
Return on capital employed: more than 20%
Satama aims to complement organic growth with strategic business acquisitions.
CUSTOMERS AND PROJECTS
In the first quarter, Satama's net sales were divided among customer industries
as follows (the percentage of net sales in Q1/2006 is given in brackets):
Telecommunications 59% (53%)
Media 5% (5%)
Tourism 1% (4%)
Finance 9% (8%)
Public administration 2% (6%)
Other 24% (26%)
During the first quarter, Satama's biggest customers included Corporate Express
(the Netherlands), Finnet-Media, Nationale Postbank Lotterij(the Netherlands),
Nokia, Oras, Postbank (the Netherlands), Tecnomen, UPC (the Netherlands) and
Vodafone.
Satama's customer projects won several awards and special mentions in industry
competitions. Grand One, the largest and most important competition in the
digital media industry in Finland, was held in Helsinki in March 2007. Color the
World, a campaign site designed for Nokia by Satama, won the Grand Prix main
award at the ceremony. The website also came first in the Design category and
was given a special mention in the Best B2C Campaign category.
Color the World is a good example of participatory economy typical of Web 2.0
thinking discussed above in the section Trends.
The Trainers' House website, designed jointly by Tequila and Satama, received a
special mention in the Best B2B Service category, and Husky Rescue's Website
bagged a special mention in the Best Design category.
OUTLOOK FOR THE FUTURE
The market outlook for Satama's operational environment remains good.
We have renewed the financial forecast for 2007 presented in our financial
statements bulletin, according to which we expected net sales and profit for the
2007 financial year to exceed the equivalent 2006 figures. In the second
quarter, we expect comparable net sales to exceed the figure of the previous
year. We expect our operating result to be positive.
SHORT-TERM BUSINESS RISKS AND FACTORS OF UNCERTAINTY
Satama's operations focus on projects. In Satama's business areas, projects
typically involve short order books, the risk of poor profitability in
individual projects, and major fluctuations in the utilisation rate of human
resources between quarters. The market outlook presented above in section
Outlook for the Future is based on forecasts made by international analyst
firms. With respect to Satama's operations, the outlook is based on our current
order book, confirmed forecasts and experience of the purchasing cycles of our
long-term customers gathered over the years.
REPORTING OF THE RESULTS
The interim report was compiled in accordance with the revenue recognition and
valuation principles of the International Financial Reporting Standards, but
does not conform with all of the requirements of IAS 34 (condensed interim
financial reports
Recording of media sales
Satama's service offering includes an increasing amount of media services
related to, for example, measurement and analytics, which are purchased from
external service providers. According to IFRS, such external services could in
Satama's case be recorded on a gross or net basis. As the portion of these
services in Satama's service offering is increasing, the company decided to
change the accounting principles for media services from gross to net basis as
of 1 January 2007. According to these principles, only the mark-up portion of
media services is included in net sales. The financial information for 2006 has
been adjusted to comply with the new accounting principle for media sales.
NET SALES AND PROFIT DEVELOPMENT
During the period under review, Satama's net sales increased by 21.2%, totalling
EUR 9.7 million (EUR 8.0 million). Operating profit (EBIT) was EUR 0.5 million
(EUR -0.2 million). Net profit for the period under review was EUR 0.4 million
(EUR -0.2 million).
A total of EUR 0.2 million was left unused in 2006 from the dissolution of the
restructuring provisions. Part of this sum was used in the first quarter to
cover actual expenses. A total of EUR 0.1 million of the restructuring
provisions remains unused.
In Finland (Satama Finland, Satama MST, Mind on Move, Fimentor and The Uncles),
net sales for the period under review amounted to EUR 7.9 million (EUR 6.3
million), and the business made a profit. Net sales of the international units
(Satama Amsterdam, NeoMotion, and OER) amounted to EUR 1.9 million (EUR 1.8
million), and the business made a profit.
The following table itemises the Group's key figures (in thousands of euros):
1-3/2007 1-3/2006
Net sales 9,732 8,031
Costs
Costs resulting from
employee benefits -6,027 -5,318
Other expenses -2,958 -2,735
EBITDA 747 -21
Depreciation -211 -223
EBIT 536 -244
% of net sales 5.5 -3.0
Financial income and
expenses -6 30
Profit/loss before tax 530 -214
Tax -127*) 34*)
Net profit/loss 403 -180
% of net sales 4.1 -2.2
*) The tax included in the income statement is deferred. The calculations are
based on the management's estimate of the weighted average annual income tax
rate.
The following table itemises net sales in terms of Group Satama Finland and the
subsidiaries operating abroad, and it shows the quarterly profits or losses from
the beginning of 2006 (in thousands of euros). In the table, net sales are
adjusted to comply with Satama's new accounting principles for media services
adopted on 1 January 2007.
Q106 Q206 Q306 Q406 2006 Q107
Finland 6,284 7,395 5,578 8,561 27,818 7,881
International 1,798 1,679 1,684 2,029 7,189 1,911
Eliminations -51 -61 -185 -169 -466 -60
Net sales total 8,031 9,013 7,076 10,421 34,541 9,732
Operating profit/loss -244 -673 377 743 203 536
The decreasing impact of the change of accounting principles for media sales was
KEUR 187 for Q1 2006 and KEUR 1237 for whole of the year 2006.
FINANCING, SOLVENCY AND RISKS
At the end of the period, the Group's equity-to-assets ratio was 74.3% (74.4%)
and its liquid assets amounted to EUR 1.2 million (EUR 2.9 million). The Group
had EUR 0.2 million of interest-bearing debt (EUR 0.0 million). As Satama
operates primarily within the euro zone, there are no substantial exchange rate
fluctuation risks. A bad debt provision, which is booked on the basis of ageing
and case-specific risk analyses, covers risks to accounts receivable.
Cash flow was EUR 0.6 million. Cash from operating activities totalled EUR 0.9
million and cash from investments totalled EUR -0.3 million.
DECISIONS REACHED AT THE ANNUAL GENERAL MEETING
Satama's Annual General Meeting was held on 21 March 2007. Manne Airaksinen,
Aarne Aktan, Timo Everi and Matti Vikkula were re-elected as members of the
Board of Directors. Jari Sarasvuo and Petteri Terho were elected as new members
of the Board of Directors. Authorised Public Accountants PricewaterhouseCoopers
Oy were re-elected as the company's auditors.
The Annual General Meeting authorised the Board of Directors to decide on a
share issue which may be either liable to charge or free of charge, including
issuing of new shares and the transfer of own shares possibly in the company's
possession.
Based on the authorisation, the Board of Directors has a right to decide on an
issue of option rights and other special rights which entitle, against payment,
to receive new shares or shares possibly in the company's possession.
Based on the aforesaid authorisations regarding share issue and/or issue of
special rights, either on one or on several occasions, a maximum of 8,000,000
new shares may be issued and/or own shares possessed by the company may be
transferred, which corresponds to approximately 19.4% of the issued and
outstanding shares of the company.
The Board of Directors is otherwise authorised to decide on all terms regarding
the share issue and the issue of special rights, including the right to also
decide on a directed share issue and a directed issue of special rights.
Shareholders' pre-emptive subscription rights can be deviated from providing
that there is a significant financial reason for the company to do so. The
authorisation is, however, not to be used for incentive schemes for the
personnel.
The authorisations shall remain in force until 30 June 2008. The authorisations
had not been exercised on 31 March 2007.
The Annual General Meeting also authorised the Board of Directors to decide on
the repurchase of the company's own shares. The shares could be acquired for the
value decided by the Board of Directors, which value is based on the fair value
at the time of the acquisition formed in the public trading. Own shares may only
acquired with free equity.
Based on the authorisation, either on one or on several occasions, a maximum of
4,000,000 own shares, which corresponds to approximately 9.7% of the issued and
outstanding shares of the company, may be acquired.
The Board of Directors is otherwise authorised to decide on all the conditions
regarding the acquisition of own shares including the manner of acquisition of
shares. The authorisation does not exclude the right of the Board of Directors
to also decide on a directed acquisition of own shares providing that there is a
significant financial reason for the company to do so.
The authorisation shall remain in force until 30 June 2008. The authorisation
had not been exercised on 31 March 2007.
In addition, the Annual General Meeting decided that certain amendments shall be
made to the articles of association, based on the changes in the Finnish
Companies Act and other mainly technical issues, to clarify the articles of
association and to ensure that they conform with the current provisions of the
Companies Act.
PERSONNEL
The average number of personnel employed by Satama during the period under
review was 369 (378). At the end of the period under review, Satama employed 370
(380) people, of whom 316 (326) were employed in Finland and 54 (54) abroad.
INVESTMENTS
The Group's gross investments amounted to EUR 0.3 million (EUR 0.2 million),
representing 3.2% (2.8%) of net sales. The investments mostly consisted of IT
hardware acquisitions.
SHARES AND SHARE CAPITAL
At the end of the period under review, Satama Interactive Plc had issued
41,236,808 shares and the company's registered share capital amounted to EUR
866,941.67. Satama's share capital increased by a total of EUR 7,883.81 during
the period under review, as a result of subscriptions made on account of the
2003B warrants issued under the personnel's option programme. The total number
of new shares subscribed for was 375,000.
Satama Interactive's shares (SAI1V) have been listed on the Helsinki Stock
Exchange since 2000.
PERSONNEL OPTION PROGRAMMES
Satama Interactive has two option programmes for its personnel, and they are
included in the personnel's commitment and incentive scheme.
The Annual General Meeting held on 26 March 2003 decided to commence an employee
option programme involving 2,000,000 warrants. Due to the resulting
subscriptions, Satama Interactive's share capital can rise by a maximum of EUR
42,046.98 and the number of shares by a maximum of 2,000,000. One million of the
warrants are titled 2003B and the other million 2003C. The subscription price
was EUR 0.36 per share and the subscription period for shares converted under
the 2003B warrants ended on 1 February 2007. The subscription period for shares
converted under the 2003C warrants runs from 1 February 2006 to 1 February 2008,
and the subscription price is EUR 1.11 per share.
The Annual General Meeting held on 29 March 2006 decided to commence an employee
option programme involving 2,000,000 warrants. Due to the resulting
subscriptions, Satama Interactive's share capital can rise by a maximum of EUR
42,046.98 and the number of shares by a maximum of 2,000,000. One million of the
warrants are titled 2006A and the other million 2006B. The subscription period
for shares converted under the 2006A warrant is to begin on a date determined by
the Board of Directors after publication of the interim report for the second
quarter of 2008, but not later than on 1 September 2008, and to end on
28 February 2009. The subscription period for the shares converted under the
2006B warrant is to begin on a date determined by the Board of Directors after
publication of the interim report for the second quarter of 2009, however not
later than on 1 September 2009, and end on 28 February 2010. The subscription
price for shares converted under the 2006A warrant is EUR 1.02. The subscription
price for shares converted under the 2006B warrant is the average rate for the
Satama Interactive shares on the Helsinki Stock Exchange, weighted with the
trade rate of the share and rounded to the nearest cent, for the six-month
period immediately following publication of the 2006 financial statements,
however not less than EUR 1.08 per share.
CHANGES IN OWNERSHIP
During the period under review, Satama became aware of three notices of change
in ownership exceeding the disclosure threshold. Information on notices of
change in ownership is available on the company's Website at www.satama.com.
Ownership of the company's shares is spread widely. On 31 March 2007, the
largest shareholder was Trainers' House Oy with 17.5% of the share capital.
DISPUTES
On 5 January 2007, the Helsinki Court of Appeal dismissed all charges in the
legal proceedings addressing the suspected delay of Satama Interactive Plc's
profit warning in the spring of 2000. All charges against the members of Satama
Interactive Plc's then Board of Directors and Satama Interactive's former CEO
were dismissed. As no appeals have been made on the decision, the decision is
final.
In its ruling, the Helsinki Court of Appeal also found unwarranted the State
Prosecutor's claim that a fine should be imposed on Satama Interactive Plc.
- - -
The forecasts and estimates given in this report are based on the current views
of the management. Actual performance may differ from the projections.
- - -
NOTES REGARDING THE FIGURES
The interim report was compiled in accordance with the revenue recognition and
valuation principles of the International Financial Reporting Standards.
Previous year's figures have been adjusted to comply with the new accounting
principle for media sales described above. The figures given in the interim
report are unaudited.
The changes and interpretations published as well as the new accounting
principles, which entered into force on 1 January 2007, are in detail presented
in the 2006 Annual Report. The implementation of these regulations did not cause
any such impact on the financial statements, which would have caused retroactive
changes to previous years' figures.
INCOME STATEMENT, IFRS (kEUR)
Group Group Group
1.1.- 1.1.- 1.1.-
31.03.07 31.03.06 31.12.06
Net sales 9,732 8,031 34,542
Other income from operations 4 26 175
Costs:
Materials and services 1,344 1,049 4,949
Costs resulting from employee benefits 6,027 5,318 21,609
Depreciation 211 223 814
Other operating expenses 1,617 1,712 7,141
Operating profit/loss 536 -244 203
Financial income and expenses -6 30 13
Share of profit/loss in associated company -4
Profit/loss before tax 530 -214 212
Tax -127*) 34*) -129*)
Profit/loss for the period 403 -180 83
Attributable to
shareholders of the parent company 403 -180 83
Earnings per share as calculated from the profit
attributable to shareholders of the parent company:
Earnings per share, undiluted (EUR) 0,01 -0,00 0,00
Earnings per share, diluted (EUR) 0,01 -0,00 0,00
*) The tax included in the income statement is deferred.
BALANCE SHEET, IFRS (kEUR)
Group Group Group
31.03.07 31.03.06 31.12.06
ASSETS
Non-current assets
Tangible assets 1,536 1,199 1,591
Goodwill 10,020 8,989 9,952
Other intangible assets 240 97 148
Other financial assets 37 53 43
Other receivables 99 156 160
Deferred tax receivables 5,565 5,896 5,689
Total non-current assets 17,497 16,389 17,583
Current assets
Accounts receivable and other receivables 11,202 9,164 12,150
Cash and cash equivalents 1,191 2,853 547
Total current assets 12,393 12,018 12,697
Total assets 29,890 28,407 30,280
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity attributable to shareholders of the parent company
Share capital 867 848 859
Premium fund 13,228 12,919 13,101
Translation differences -2 -3 -1
Retained earnings 8,115 7,370 7,704
Total shareholders' equity 22,208 21,135 21,663
Long-term liabilities
Other long-term liabilities 221 494 373
Accounts payable and other liabilities 7,461 6,778 8,245
Total liabilities 7,682 7,272 8,618
Total shareholders' equity and liabilities 29,890 28,407 30,280
CASH FLOW STATEMENT, IFRS (kEUR)
Group Group Group
1.1.- 1.1.- 1.1.-
31.03.07 31.03.06 31.12.06
Profit/loss for the period 403 -180 83
Corrections to profit/loss for the period 274 175 1,151
Change in working capital 245 -113 -1,918
Financial items -2 16 43
Cash from operations 921 -103 -640
Investments in tangible and
intangible assets -253 -239 -2,368
Other investments
Change in the additional trade price -67 -200 -424
Cash from investments -320 -439 -2,792
Share issue subject to charges 135 118 345
Repurchase of own shares -103
Own shares used in purchase of shares 103
Increase/decrease in long-term receivables -152 2 295
Increase/decrease in loans 61 62
Cash from financing 44 119 703
Change in cash and cash equivalents 644 -423 -2,729
Opening balance of cash and cash equivalents 547 3,276 3,276
Closing balance of cash and cash equivalents 1,191 2,853 547
CHANGE IN SHAREHOLDERS' EQUITY (kEUR)
Shareholders' equity attributable to shareholders of the parent company
Share Share Premium Translation Retained
capital issue fund differences earnings Total
Shareholders' equity
01/01/2006 843 14 12,792 -1 7,545 21,193
Translation differences -1 -1
Stock options used 4 -14 127 118
Share-based payments 5 5
Profit/loss for the period -180 -180
Shareholders' equity
31/03/2006 848 12,919 -3 7,370 21,135
Shareholders' equity
01/01/2007 859 13,101 -1 7,704 21,663
Translation differences -1 -1
Stock options used 8 127 135
Share-based payments 8 8
Profit/loss for the period 403 403
Shareholders' equity
31/03/2007 867 13,228 -2 8,115 22,208
INVESTMENTS (kEUR) Group Group Group
1.1.- 1.1.- 1.1-
31.03.07 31.03.06 31.12.06
Gross investments in tangible
and intangible assets
and shares 315 228 2,394
Gross investments
% of net sales 3.2 2.8 6.7
PERSONNEL Group Group Group
1.1.- 1.1.- 1.1-
31.03.07 31.03.06 31.12.06
Average number of personnel 369 378 370
Personnel at the end of the period 370 380 366
COMMITMENTS AND CONTINGENT LIABILITIES (kEUR)Group Group Group
31.03.07 31.03.06 31.12.06
Collaterals and contingent liabilities
given for own commitments 5,285 6,265 5,752
OTHER KEY FIGURES Group Group Group
1.1.- 1.1.- 1.1-
31.03.07 31.03.06 31.12.06
Equity-to-assets ratio (%) 74.3 74.4 71.9
Shareholders' equity/share (EUR) 0.54 0.52 0.53
Helsinki, 26 April 2007
SATAMA INTERACTIVE PLC
BOARD OF DIRECTORS
For more information, please contact:
Jarmo Lönnfors, CEO, at +358 (0)207 581 717
Martti Ojala, CFO, at +358 (0)207 581 637
DISTRIBUTION:
Helsinki exchanges
Prominent media sources
http://www.satama.com
© 2024 Nasdaq, Inc. All Rights Reserved |