2007-08-21 11:30:01 CEST
2007-08-21 11:30:01 CEST
REGULATED INFORMATION
Cencorp - Quarterly report
Cencorp Corporation Interim Report for 1 January - 30 June 2007
April-June 2007
Net sales amounted to EUR 4.1 (6.8) million
Operating profit (EBIT) totalled EUR -0.6 (0.1) million
Profit before taxes was EUR -1.0 (-0.2) million
Equity ratio stood at 1.9% (20.7%).
The figures given for comparison are those for the corresponding period in the
previous year unless otherwise stated.
The Interim Report has been prepared in accordance with IAS 34 Interim Financial
Reporting.
Group's key figures
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| (unaudited) | | | | | |
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| EUR 1,000 | 4-6/2007 | 4-6/2006 | 1-6/2007 | 1-6/2006 | 1-12/200 |
| | | | | | 6 |
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| Net sales | 4 077 | 6 817 | 7 897 | 12 760 | 19 974 |
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| Operating profit/loss | -636 | 141 | -1 654 | -1 101 | -3 348 |
| (EBIT) | | | | | |
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| % of net sales | -16 % | 2 % | -21 % | -9 % | -17 % |
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| Profit/loss before | -970 | -191 | -2 305 | -1 630 | -4 874 |
| taxes (EBT) | | | | | |
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| % of net sales | -24 % | -3 % | -29 % | -13 % | -24 % |
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| Research and | 263 | 67 | 466 | 254 | 512 |
| development costs | | | | | |
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| % of net sales | 7 % | 1 % | 6 % | 2 % | 2 % |
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| Equity ratio, % | 2 % | 21 % | 2 % | 21 % | 13 % |
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| Personnel on average | 129 | 192 | 135 | 199 | 185 |
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| Personnel at the end | 132 | 187 | 132 | 187 | 156 |
| of period | | | | | |
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| Profit/share | -0.04 | -0.01 | -0.09 | -0.05 | -0.14 |
| (diluted), EUR | | | | | |
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Net sales and earnings performance
April-June 2007
Net sales in April-June 2007 totalled EUR 4.1 million (EUR 6.8 million) while
operating profit (EBIT) amounted to EUR -0.6 million (EUR 0.1 million). The
Group's net financial items were EUR -0.3 (-0.3) million. Profit before taxes
totalled EUR -1.0 (-0.2) million. Earnings per share were EUR -0.04 (-0.01).
January-June 2007
Cencorp's net sales amounted to EUR 7.9 (12.8) million. Operating profit was EUR
-1.7 (-1.1) million. The Group's net financial items for the review period were
EUR
-0.6 (-0.5) million. Profit before taxes totalled EUR -2.3 (-1.6) million. The
net profit for the period was EUR -2.3 (-1.6) million. Diluted earnings per
share were EUR
-0.09 (-0.05). Measures launched in the previous financial year to improve
business efficiency affect as planned and the group's fixed costs were EUR 1.8
million less than in the previous year.
Cencorp Corporation's net sales came from one business segment: the automation
and testing business. The laser business, which has been moved to Cencorp
Corporation's subsidiary Singulase Corporation, did not generate any revenue in
the review period, as the company still concentrated on product development.
Product development has been delayed by more than one year due to factors
outside the Group's control. The operating loss of the automation and testing
business amounted to EUR -1.5 (-1.0) million, while earnings before taxes stood
at EUR -2.2 (-1.5) million and the net loss for the period at EUR -2.2 (-1.5)
million. Singulase Corporation recorded an operating profit, profit before taxes
and net loss for the period of EUR -0.1 (-0.1) million.
Balance sheet and financing
The balance sheet figures at 30 June 2007 are compared to those at 31 December
2006.
At the end of the review period, the balance sheet total was EUR 18.3 (21.1)
million. The company's cash flow after investments was EUR 0.6 (-2.6) million,
while interest-bearing net debts at the end of the review period amounted to EUR
13.2 (13.7) million. Accounts receivables decreased to EUR 3.8 (5.6) million,
and inventories decreased to EUR 4.8 (5.2) million.
Non-interest-bearing liabilities amounted to EUR 4.4 (4.8) million and interest
bearing liabilities to EUR 14.2 (14.6) million. The equity ratio was 1.9%
(12.7%). Gross investments in January-June totalled EUR 0.04 (0.4) million, or
1.0% (2.2%) of the period's net sales, and mainly came from product development.
Events in the review period
Details about events in the review period are available in Cencorp
Corporation's stock exchange releases on Cencorp's website at www.cencorp.com.
New Vice President, Sales and Marketing
M.Sc. Mr. Kimmo Akiander (B. 1969) has been nominated as Vice President, Sales
and Marketing of Cencorp Corporation starting on April 10, 2007. Mr. Akiander
reports to CEO Jouni Suutarinen.
Mr. Kimmo Akiander has previously worked as Sales and Marketing Director in
Business Unit Systems of Efore Oyj. Before Efore Oyj he worked as a Key account
manager for Motorola in Ascom Energy Systems GmbH.
Decisions of The Annual General Meeting of Cencorp Corporation held on April 17,
2007
The financial statements for the fiscal year 2006 were approved. In accordance
with the Board's proposal, it was resolved that no dividend shall be paid for
the fiscal year January 1 - December 31, 2006. Likewise, it was resolved that
the net loss of the fiscal year 2006 will be entered in the retained earnings
account. Release from liability for the fiscal year January 1 - December 31,
2006 was granted to the members of the parent company's Board and the CEOs
employed by the company during the fiscal year.
The Annual General Meeting passed a resolution to elect three members to the
Board. The previous members elected to the Board were Mr. Jorma Kielenniva, Mr.
Markku Jokela and Mr. Sauli Kiuru.
At the Board's organization meeting that was held after the Annual General
Meeting, Jorma Kielenniva was elected Chairman of the Board and Markku Jokela
Vice Chairman of the Board. Cencorp´s Vice President, Legal Affairs Mr. Ville
Parpola continues as the secretary of the board. Jorma Kielenniva and Markku
Jokela were elected as members of the Nomination and Compensation Committee. Mr
Jorma Kielenniva was elected as the Chairman of the Nomination and Compensation
Committee.
Tilintarkastus Tuokko Oy was elected as the Company's auditor, with Authorised
Public Accountant Timo Tuokko to be the primarily responsible auditor.
In accordance with the Board's proposal, it was resolved that Articles of
Association of the company will be changed as follows:
- Sections 3, 4 and 13 concerning share capital of the company, number of shares
and voting rights attached to the shares were wholly or partly removed as
redundant.
- Sections 8 and 9 concerning the right to sign for the company were amended to
correspond to the wording of the Companies Act.
- Section 11 concerning the notice of a General Meeting was amended to the
effect that the notices can be delivered not earlier than three months prior to
the General Meeting instead of the current two months.
- The list of matters to be considered at the Annual General Meeting of
Shareholders was amended to correspond to the amended legislation.
- The reference concerning the date of registration in section regarding the
Book-entry System was removed as redundant.
- Section concerning record date procedure was removed as redundant.
- The numbering of the sections in the Articles of Association was amended
correspondingly due to the above amendments.
In accordance with the Board's proposal, it was resolved that the Board of
Directors of the company is authorized to resolve on the issuance of shares and
stock options and other special rights entitling to shares subject to chapter
10, section 1 of the Companies Act as follows.
The aggregate number of shares issued on the basis of the authorization may not
exceed 10,000,000 shares. The Board of Directors is authorized to resolve on all
the terms and conditions concerning the issue of shares and stock options and
other special rights entitling to shares. Issuance of shares and other special
rights entitling to shares can be carried out as a directed issue. Authorization
is valid until further notice, however not more than five years from the
decision by the Annual General Meeting of Shareholders.
Cencorp Corporation's interim financial statements based on companies act 20:23
Cencorp Corporation published on June 29, 2007 interim financial statements
January 1, 2007 - March 31, 2007 and report of the Board based on companies act
20:23§. Documents are available at the Company's web site at www.cencorp.com
CHANGES IN GROUP STRUCTURE
Kiinteistö Oy Salon Ratakatu 10, a real estate company owned by Cencorp
Corporation, sold its factory hall and the related land lease agreement in
December 2006. Since the real estate company's sole purpose was to administer
the property traded, the company was decided to be dissolved through
liquidation, which has been started by liquidator Attorney-at-Law Mr. Mikko
Tuononen. Liquidation procedure will be finished before end of financial year
2007.
NOTIFICATIONS PURSUANT TO CHAPTER 2, SECTION 9, OF THE SECURITIES MARKET ACT
No notifications pursuant to chapter 2, section 9, of the Securities Market Act
were published during the review period.
EVENTS AFTER THE REVIEW PERIOD
There were no published events after the review period
Business environment and customers
Cencorp operates in the global market of production automation for the
electronics and semiconductor industries. The company supplies production
automation systems and testing equipment to the semiconductor,
telecommunications, consumer electronics, industrial electronics and automotive
electronics industries as well as to the electronics contract manufacturers.
The sales in the second quarter were emphasized quite evenly to all product
groups. The prevailing boom in the metal industry in Finland caused challenges
in purchasing components and machining parts. Thus, there were delays in
deliveries of some customer projects and decrease in the margins.
There was a major consolidation in the clientele as contract manufacturer
Flextronics International announced to buy contract manufacturer Solectron
Corporation.
In order to respond better especially to the contract manufacturers' continuing
improvement of operations and cost-level cutting, Cencorp will launch a new
product platform in Productronica Fair 2007 which is more economical but
efficient.
Special attention in the designing of the new product platform has been paid to
the amount and price-level of the parts needed in the production. The purpose
has been to half the amount of parts and components needed in the production.
During the review period Cencorp delivered as planned the first Cencorp MTL-4
testing equipments for software download application as well as the VIC 500 for
vision testing equipment for quality control.
Research and development
The R&D expenses for April-June totalled 6.5% of net sales, or EUR 0.3 (0.1)
million of which no significant amounts were capitalised in the balance sheet.
Board, management and personnel
At the end of the period, Cencorp Corporation's Board of Directors consisted of
Mr. Jorma Kielenniva, Chairman, LL.M. with court training, Mr. Markku Jokela,
Deputy Chairman, B.Sc. (Eng) and Mr. Sauli Kiuru, member, M.Sc. (Econ). The
company's management team comprised of Mr. Jouni Suutarinen (CEO), Mr. Jarmo
Kanervo (finance and administration), Mr. Ville Parpola (legal affairs and
personnel), Mr. Kimmo Akiander (sales and marketing), Mr. Juha Kantola
(production), Mr. Hannu Seppälä (testing business) and Mr. Pekka Kettunen
(product development).
Cencorp employed an average of 129 (192) people from April to June. The payroll
at the end of the period totalled 132 (187) employees: 113 (146), or 86% (78%),
in Finland and 19 (41), or 14% (22%), abroad.
Share performance and changes in ownership
The price of the company's share ranged from EUR 0.27 (4-6/2006: EUR 0.68) to
EUR 0.43 (4-6/2006: EUR 1.07) over the review period, the average share price
being EUR 0.36 (4-6/2006: EUR 0.89). A total of 4,073,649 (4-6/2006:
8,284,974) shares, or 11.9% (4-6/2006: 26.5%) of the company's entire share
capital, were traded during the period.
The company's market capitalisation at the end of the review period was EUR 14
million (6/2006: EUR 22 million).
At the end of the review period, the company had 5,870 registered shareholders
(6/2006: 6,724). A total of 310,529 shares were nominee registered (6/2006:
240,623), i.e., 0.91% (6/2006: 0.77 %). Cencorp had a total of 34,250,591
shares outstanding at the end of the review period (6/2006: 31,250,591), and one
share series.
Outlook for the future
More and more customers are looking for production solutions that are easily
transferable according to demand between factories and continents. For this
purpose standardized production equipment are most suitable. This change in its
customer base has been noticed by Cencorp in its own strategy and because of
this, the company moves to a fully standardized automation equipment
manufacturer and supplier in the future.
Cencorp focuses on four product categories in its operations: odd-form component
placement applications, PCB - sawing and routing products, test handlers of
electronic products and laser applications.
The first commercial solutions of the laser business are aimed to be brought on
the market during the second half of the year 2007. The first commercial
versions of the laser products are for PCB soldering and marking. Development
version for PCB cutting will be launched simultaneously.
Technology partner of Cencorp, Corelase Oy, which was sold to Rofin-Sinar
Technologies Inc. in April 2007 has informed that it will publish the commercial
version of the fibre laser (X-Lase) during the last quarter of year 2007.
The Cencorp group's order backlog has developed positively. At the release
moment the Cencorp group's order backlog was 6.4 million euros (2006: 2.2
million euros). The sales for the whole year are expected to increase from year
2006 and the operating profit (EBIT) for the second half of the year is
estimated to be positive.
Because of the high economic cycle in the metal industry there was increase in
the material costs in the second quarter and the margin level appeared below
than anticipated. Thus, the company estimates the operating profit (EBIT) for
the whole year will be negative.
Future risks and uncertainty factors
The most significant risks from Cencorp business perspective are related to the
on-going tight financing situation as well as to the development of the sales.
Cencorp's sales forecasts are based on the company's own views as well as the
sales development estimates from customers and the distributor network.
Interim Report Release
Cencorp Corporation will present its interim report 1-6/2007 to analysts,
investors and the media on Tuesday, 21 August 2007, at 2:00 pm in Restaurant
Savoy, Eteläesplanadi 14, 00130 Helsinki.
Virkkala 21.8.2007
Cencorp Corporation
Board of Directors
Tables can be found on the following pages.
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| CONSOLIDATED INCOME STATEMENT | | | | |
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| (unaudited | | | | | | |
| figures) | | | | | | |
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| EUR 1 000 | 4-6/200 | 4-6/200 | 1-6/200 | 1-6/200 | 1-12/200 | |
| | 7 | 6 | 7 | 6 | 6 | |
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| Net sales | 4 077 | 6 817 | 7 897 | 12 760 | 19 974 | |
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| Other | 103 | 49 | 140 | 127 | 446 | |
| operating | | | | | | |
| income | | | | | | |
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| Expenses, | -4 533 | -6 421 | -9 099 | -13 393 | -22 459 | |
| total | | | | | | |
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| Depreciations | -283 | -304 | -592 | -595 | -1 309 | |
| and | | | | | | |
| write-downs | | | | | | |
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| Operating | -636 | 141 | -1 654 | -1 101 | -3 348 | |
| result | | | | | | |
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| Financial | -334 | -332 | -651 | -529 | -1 526 | |
| income and | | | | | | |
| expenses | | | | | | |
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| Result before | -970 | -191 | -2 305 | -1 630 | -4 874 | |
| taxes | | | | | | |
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| Income taxes | -13 | 14 | -12 | -13 | -25 | |
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| Consolidated | -983 | -177 | -2 317 | -1 643 | -4 899 | |
| net result | | | | | | |
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| CONSOLIDATED BALANCE | | | | | |
| SHEET | | | | | |
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| (unaudited | | | | | | |
| figures) | | | | | | |
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| EUR 1 000 | | | 30.06.2 | 30.6.20 | 1-12/200 | |
| | | | 007 | 06 | 6 | |
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| ASSETS | | | | | | |
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| Long-term | | | | | | |
| assets | | | | | | |
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| Tangible | | | 1 672 | 2 124 | 1 778 | |
| assets | | | | | | |
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| Investment | | | 337 | 977 | 343 | |
| property | | | | | | |
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| Goodwill | | | 2 028 | 1 902 | 2 028 | |
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| Other | | | 587 | 1 404 | 1 016 | |
| intangible | | | | | | |
| assets | | | | | | |
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| Incomplete product development | 1 273 | 1 231 | 1 199 | |
| projects | | | | |
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| Deferred tax | | | 1 725 | 1 803 | 1 723 | |
| asset | | | | | | |
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| Available-fos-sale | | 17 | 20 | 17 | |
| investments | | | | | |
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| | | | 7 639 | 9 461 | 8 104 | |
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| Short-term | | | | | | |
| assets | | | | | | |
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| Inventories | | | 4 782 | 4 863 | 5 188 | |
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| Accounts | | | 3 837 | 8 250 | 5 589 | |
| receivable | | | | | | |
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| Other | | | 1 075 | 690 | 1 323 | |
| short-term | | | | | | |
| assets | | | | | | |
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| Cash and bank | | 923 | 292 | 937 | |
| receivables | | | | | |
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| | | | 10 617 | 14 095 | 13 037 | |
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| Total assets | | | 18 256 | 23 556 | 21 141 | |
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| LIABILITIES AND SHAREHOLDERS' | | | | |
| EQUITY | | | | |
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| Shareholders' | | | | | | |
| equity | | | | | | |
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| Share capital | | | 3 425 | 3 125 | 3 425 | |
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| Other | | | 4 432 | 4 158 | 4 432 | |
| restricted | | | | | | |
| equity | | | | | | |
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| Fair value | | | | 441 | | |
| fund | | | | | | |
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| Non-restricted | | | -7 533 | -2 886 | -5 224 | |
| equity | | | | | | |
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| Total | | | 324 | 4 838 | 2 633 | |
| shareholders' | | | | | | |
| equity | | | | | | |
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| Long-term | | | | | | |
| liabilities | | | | | | |
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| Long-term | | | 10 426 | 5 484 | 10 356 | |
| loans | | | | | | |
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| Deferred tax | | | 332 | 333 | 361 | |
| liability | | | | | | |
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| Long-term | | | | 129 | | |
| reserves | | | | | | |
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| Total | | | 10 758 | 5 946 | 10 717 | |
| long-term | | | | | | |
| liabilities | | | | | | |
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| Short-term | | | | | | |
| liabilities | | | | | | |
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| Accounts payable and | | 4 599 | 6 282 | 4 450 | |
| other liabilities | | | | | |
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| Short-term | | | 1 298 | 5 190 | 1 394 | |
| loans | | | | | | |
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| Long-term loans | | 1 240 | 1 150 | 1 824 | |
| shortening | | | | | |
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| Tax | | | | 13 | 25 | |
| liabilities | | | | | | |
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| Short-term | | | 37 | 137 | 98 | |
| reserves | | | | | | |
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| Total | | | 7 174 | 12 772 | 7 791 | |
| short-term | | | | | | |
| reserves | | | | | | |
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| Total | | | | | | |
| liabilities | | | | | | |
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| | | | 17 932 | 18 718 | 18 508 | |
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| Total liabilities and | | 18 256 | 23 556 | 21 141 | |
| shareholders' equity | | | | | |
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| STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY 1.1. - | | |
| 30.6.2006 | | |
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| (unaudited figures) | | | | | |
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| | Share | Other | Transla | Retaine | Total | |
| | | | tion | d | | |
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| | capital | restric | differe | earning | | |
| | | ted | nce | s | | |
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| EUR 1 000 | | equity | | | | |
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| Shareholders' equity | | | | | |
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| 31.12.2005 | 3 125 | 4 158 | -3 621 | 3 201 | 6 863 | |
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| Translation | | | -70 | | -70 | |
| difference | | | | | | |
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| Net result | | | | -1 466 | -1 466 | |
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| Shareholders' | | | | | | |
| equity | | | | | | |
--------------------------------------------------------------------------------
| 30.06.2006 | 3 125 | 4 158 | -3 691 | 1 735 | 5 327 | |
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| STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY 1.1. - | | |
| 30.6.2007 | | |
--------------------------------------------------------------------------------
| (unaudited | | | | | | |
| figures) | | | | | | |
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| | Share | Other | Transla | Retaine | Total | |
| | | | tion | d | | |
--------------------------------------------------------------------------------
| | capital | restric | differe | earning | | |
| | | ted | nce | s | | |
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| EUR 1 000 | | equity | | | | |
--------------------------------------------------------------------------------
| Shareholders' | | | | | | |
| equity | | | | | | |
--------------------------------------------------------------------------------
| 31.12.2006 | 3 425 | 4 432 | -3 254 | -1 970 | 2 633 | |
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| Translation | | | -35 | | -35 | |
| difference | | | | | | |
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| IAS 12 | | | | 43 | 43 | |
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| Net result | | | | -2 317 | -2 317 | |
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| Shareholders' | | | | | | |
| equity | | | | | | |
--------------------------------------------------------------------------------
| 30.06.2007 | 3 425 | 4 432 | -3 289 | -4 244 | 324 | |
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| Accounting Principles for the | | | | |
| Interim Report: | | | | |
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| The same accounting policies and methods of | | |
| computation are followed | | |
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| in the interim financial statements as compared with | | |
| the most recent | | |
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| interim financial | | | | | |
| statements. | | | | | |
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| Explanatory comments about the seasonality or | | |
| cyclicality of interim | | |
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| operations: | | | | | | |
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| The company operates in business areas which are | | |
| subject to seasonal | | |
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| fluctuations. | | | | | | |
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| CONSOLIDATED CASH FLOW STATEMENT | | | | |
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| (unaudited | | | | | | |
| figures) | | | | | | |
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--------------------------------------------------------------------------------
| EUR 1 000 | | | 1-6/200 | 1-6/200 | 1-12/200 | |
| | | | 7 | 6 | 6 | |
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| Cash flow from | | 714 | -339 | -2 908 | |
| operations | | | | | |
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| Cash flow into and from | | -85 | -186 | 332 | |
| investments | | | | | |
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| Financial cash | | | -643 | 439 | 3 187 | |
| flow | | | | | | |
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| Increase(+)/ decrease(-) in | -14 | -86 | 611 | |
| financial assets | | | | |
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| GROUP KEY | | | | | | |
| FIGURES | | | | | | |
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| (unaudited | | | | | | |
| figures) | | | | | | |
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| EUR 1 000 | | 4-6/200 | 4-6/200 | 1-6/200 | 1-6/2006 | 1-12/200 |
| | | 7 | 6 | 7 | | 6 |
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| Net sales | | 4 077 | 6 817 | 7 897 | 12 760 | 19 974 |
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| Operating | | -636 | 141 | -1 654 | -1 101 | -3 348 |
| result | | | | | | |
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| % of net sales | | -15.6 % | 2.1 % | -20.9 % | -8.6 % | -16.8 % |
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| Result before | | -970 | -191 | -2 305 | -1 630 | -4 874 |
| taxes | | | | | | |
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| % of net sales | | -23.8 % | -2.8 % | -29.20 | -12.8 % | -24.4 % |
| | | | | % | | |
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| Total assets | | 18 256 | 23 556 | 18 256 | 23 556 | 21 141 |
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| Equity ratio, | | 1.9 % | 20.7 % | 1.9 % | 20.7 % | 12.7 % |
| % | | | | | | |
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| Gearing ratio, | | 4014.20 | 232.6 % | 4014.2 | 232.6 % | 467.9 % |
| % | | % | | % | | |
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| Gross | | 40 | 69 | 85 | 186 | 436 |
| investments | | | | | | |
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| % of net sales | | 1.0 % | 1.0 % | 1.1 % | 1.5 % | 2.2 % |
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| R&D | | 263 | 67 | 466 | 254 | 512 |
| expenditure | | | | | | |
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| % of net sales | | 6.5 % | 1.0 % | 5.9 % | 2.0 % | 2.6 % |
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| Personnel, | | 129 | 192 | 135 | 199 | 185 |
| average | | | | | | |
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| Personnel, at end of | 132 | 187 | 132 | 187 | 156 |
| period | | | | | |
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| Non-interest bearing | 4 371 | 6 790 | 4 371 | 6 790 | 4 835 |
| liabilities | | | | | |
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| Interest | | 14 157 | 11 530 | 14 157 | 11 530 | 14 610 |
| bearing | | | | | | |
| liabilities | | | | | | |
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| Per-share key | | | | | | |
| figures | | | | | | |
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| Equity per | | 0.01 | 0.15 | 0.01 | 0.15 | -0.14 |
| share*, EUR | | | | | | |
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| Earnings per share, | -0.04 | -0.01 | -0.09 | -0.05 | -0.15 |
| EUR/share (diluted) | | | | | |
| | | | | | |
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| Earnings per share, | -0.03 | -0.01 | -0.07 | -0.05 | 0.08 |
| EUR/share (undiluted) | | | | | |
| | | | | | |
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| Share price | | | | | | |
| trend | | | | | | |
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| High, euros | | 0.43 | 1.07 | 0.45 | 1.29 | 1.33 |
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| Low, euros | | 0.27 | 0.68 | 0.27 | 0.68 | 0.42 |
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| Average, euros | | 0.36 | 0.89 | 0.37 | 0.99 | 0.81 |
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| Price at end of period, | 0.40 | 0.71 | 0.40 | 0.71 | 0.44 |
| euros | | | | | |
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| Market capitalization at | 14 | 22 | 14 | 22 | 15 |
| end of period, EUR | | | | | |
| millions | | | | | |
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| CALCULATION OF KEY | | | | | |
| FIGURES | | | | | |
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| Equity ratio, | | | | | | |
| % | | | | | | |
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| | Shareholders' equity + minority | | |
| | interest x 100 | | |
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| | Balance sheet total - | | | |
| | advances received | | | |
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| Net gearing, % | | | | | | |
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| | Interest-bearing liabilities - cash | | |
| | and cash | | |
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| | equivalents and marketable securities | | |
| | x 100 | | |
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| | Shareholders' equity + | | | |
| | minority interest | | | |
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| Earings per | | | | | | |
| share (EPS) | | | | | | |
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| | Profit before extraordinary items +/- | | |
| | minority | | |
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| | interest of profit/loss for the | | |
| | period - taxes | | |
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| | Number of shares adjusted for share | | |
| | issue (average) | | |
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| Equity per | | | | | | |
| share | | | | | | |
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| | Shareholders' | | | | |
| | equity | | | | |
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| | Number of shares adjusted for share | | |
| | issue | | |
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| | at the end of the financial | | | |
| | year | | | |
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| CONTINGENT LIABILITIES | | | | | |
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| (unaudited | | | | | | |
| figures) | | | | | | |
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| EUR 1 000 | | | 30.06.2 | 30.06.2 | 31.12.20 | |
| | | | 007 | 006 | 06 | |
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| Loans from financial | | 12 712 | 7 439 | 13 069 | |
| institutions | | | | | |
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| Corporate mortgages | | 12 452 | 12 452 | 12 687 | |
| granted | | | | | |
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| Real-estate mortgages | | 12 687 | 168 | 0 | |
| granted | | | | | |
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| Other loans | | | 1 445 | 1 758 | 1 541 | |
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| Real-estate mortgages | | 0 | 0 | 0 | |
| granted | | | | | |
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--------------------------------------------------------------------------------
| Used bank guarantee | | 0 | 0 | 151 | |
| facility | | | | | |
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| Real-estate mortgages | | 0 | 0 | 0 | |
| granted | | | | | |
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--------------------------------------------------------------------------------
| Given as | | | | | | |
| collateral | | | | | | |
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| Corporate mortgages | | 12 687 | 12 687 | 12 687 | |
| granted, total | | | | | |
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| Real-estate mortgages | | 0 | 168 | 0 | |
| granted, total | | | | | |
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| Leasing | | | | | | |
| commitments | | | | | | |
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| falling due during the | | 89 | 118 | 112 | |
| next 12 months | | | | | |
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| falling due | | | 64 | 110 | 103 | |
| later | | | | | | |
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| Rental | | | | | | |
| liabilities | | | | | | |
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| falling due during the | | 66 | 140 | 59 | |
| next 12 months | | | | | |
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| falling due | | | 70 | 156 | 59 | |
| later | | | | | | |
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| Liabilities due to | | | | | |
| derivative contracts | | | | | |
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| Forward exchange | | 0 | 0 | 0 | |
| contracts | | | | | |
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| of which taken out to hedge the | 0 | 0 | 0 | |
| parent company's accounts | | | | |
| receivable | | | | |
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| of which taken out to hedge the | 0 | 0 | 0 | |
| parent company's other receivables | | | | |
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| TRANSACTIONS WITH RELATED PARTIES | | | | |
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| (unaudited | | | | | | |
| figures) | | | | | | |
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| EUR 1 000 | | | 1-6/200 | 1-12/20 | | |
| | | | 7 | 06 | | |
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| Sales of goods and | | | | | |
| services | | | | | |
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| Related party companies | | | | | |
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| Photonium Oy | | | 282 | 357 | | |
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| Purchases of goods and | | | | | |
| services | | | | | |
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| Related party companies | | | | | |
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| Photonium Oy | | | 369 | 1006 | | |
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| Fees paid on the basis of | | | | |
| consultation agreements | | | | |
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| Related party companies | | | | | |
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| FT-Capital Oy | | | 13 | 25 | | |
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| Convertible subordinated loans | 650 | 650 | | |
| from related parties | | | | |
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| Accounts payable to | | 44 | 512 | | |
| related parties | | | | | |
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| Other receivables from | | 622 | 447 | | |
| related parties | | | | | |
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| Accounts receivables from related | 356 | 337 | | |
| parties | | | | |
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For more information, please contact:
Jouni Suutarinen
President and CEO
Tel. +358 (0)19 6610 100
Cencorp supplies the electronics and semiconductor industries with automation
solutions that enhance productivity.
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