2010-01-27 08:00:00 CET
2010-01-27 08:01:01 CET
REGULATED INFORMATION
Solteq Oyj - Financial Statement Release
SOLTEQ PLC'S FINANCIAL STATEMENTS BULLETIN 1.1.-31.12.2009
Solteq Plc Stock Exchange Bulletin 27.1.2010 at 9.00am
- Turnover decreased by 6,0 % and totalled 28,6 million euros (30,4 million
euros)
- Operating result totalled 1.464 thousand euros (1.460 thousand) and remained
at the same level as in the financial year 2008.
- Operating result is burdened by termination benefits in the amount of 440
thousand euros
- Operating result improved during the fourth quarter and totalled 786 thousand
euros (657 thousand euros)
- In 2010 the turnover is believed to be at the same level as in 2009, but the
operating result instead is believed to improve and to end up between 6-8 per
cent.
- Earnings per share was 0,08 euros (0,07 euros)
- The Board of Directors proposes to the annual general meeting a dividend of
0,06 euros per share, excluding own shares.
KEY FIGURES
Turnover by operation:
% 1-12/09 1-12/08
Softwareservices 65 61
Licences 26 26
Hardware 9 13
Turnover by segment:
Me 1-12/09 1-12/08 Change
Trade 18,7 19,8 -1,1
Industry and services 9,9 10,6 -0,7
Total 28,6 30,4 -1,8
Operating result by segment:
Me 1-12/09 1-12/08 Change
Trade 0,1 1,6 -1,5
Industry and services 1,4 -0,1 +1,5
Total 1,5 1,5 0
Managing Director Hannu Ahola:"After the uncertain first half of 2009 Solteq's profitability improved
significantly during the latter half of year 2009. Our operating result
percentage was 8,1 in the third quarter and 9,6 in the fourth quarter which can
be considered good level in our branch of business.
In addition to operative business operations we have taken several significant
development measures that enable us to ensure favorable development of
profitability also during forthcoming years. Our personnel structure and office
network were adjusted by means of co-operation negotiations to correspond our
activities. The controlling and monitoring opportunities were improved by means
of implementation of a new ERP -system. During the last part of the year we also
completely reformed our organizational structure to correspond our strategic
focus areas. During 2010 there are no needs for such extensive reforms in the
view but we are able to completely concentrate to serve our customers and make
profitable business in such environment that is presumably more favorable in
market conditions' point of view."
BUSINESS ENVIRONMENT AND BUSINESS DEVELOPMENT
Solteq is a strategic partner for trade and industry, whose core competency is
IT solutions that are critical to business. Solteq combines its own product
portfolio with the products from the leading software companies in the world to
deliver individual business development and ERP solutions for its customers. The
information that is processed by means of these solutions is helping customers
to manage their business even better than before and to improve their
profitability.
Solteq's operations were internally divided into five separate units during
2009. The result was monitored through two business segments and in this
financial statements bulleting the figures are reported in accordance with
above-mentioned allocation. The segment Trade consists of Trade and Auto Trade
units. Industry and Services segment consists of Industry and Information
Management units. Application services is company's internal service unit. OOO
Solteq Russia operates as an independent subsidiary which with the assistance of
the parent company's organization serves customers that are operating in Russia.
The figures of OOO Solteq Russia are reported according to the operating segment
of the end customer.
Solteq Plc announced 16.9.2009 that company's organizational structure will be
reformed to correspond to company's strategic focus areas ERP (enterprise
resource planning), EAM (enterprise asset management), DATA (data management and
integration) and STORE (retail solutions and technology). The reform enables
prerequisites at streamlining operations further and further improves the
selling of company's product range to new areas. The organizational change has
taken effect on 1.1.2010. As of the first quarter of 2010, Solteq's figures will
be reported in accordance with new organizational structure.
During fourth quarter of 2009 Solteq's turnover totalled 8 226 thousand euros in
which contains decrease of 4,9 per cent compared to corresponding period in
2008. The total turnover from financial year 2009 decreased six per cent and
amounted to 28.550 thousand euros. The decrease of turnover was mainly due to
decrease in hardware sales that was fainter compared to previous year. Instead
the sales of services and licences have run according to plans.
Solteq's operating result for the fourth quarter increased to 786 thousand euros
from 657 thousand euros that was the operating result in the corresponding
period 2008. The operating profit for the whole year 2009 was 1.464 thousand
euros and that was in the same level as in 2008 (1.460 thousand euros).
Company's operating profit percentage was 9,6 during the last quarter (7,6 in
2008) and during the whole financial year 5,1 (4,8). Improved profitability,
especially during the last half of the year, is mainly due to the efficiency
measures that company has taken during the first quarter of 2009.
Company's order backlog remained at good level during the last quarter of 2009.
Current order backlog and strong sales project backlog build up confidence that
the number of IT-investments will gradually increase during 2010 and also Solteq
has a good chance to improve its profitability level compared to last year. The
reforms that were executed during 2009 build up the wherewithal for the
improvement of profitability. In the beginning of 2009 Solteq conducted
co-operation negotiations with its employees and the number of company's offices
was reduced. In addition during summer Solteq implemented new ERP-system that
improves company's ability to monitor and develop its operations.
TRADE
Business environment - Trade
Precaution in decision-making was still evident in the business environment of
Trade. Customers' interest towards solutions that relate to optimization of
activities and efficiency improvement has remained stable anyway. Companies'
managements are participating actively to the ERP development projects, because
companies strive to achieve cost gains and efficiency by means of those projects
during the tighter economical times.
The middle-sized companies which continued their investments were the most
active actors among the clientele of trade. Especially the companies in
wholesale trade as well as small chain stores are still systematically investing
in the development of their operations.
In particular the demand for warehouse management for specialty stores and ERP
solutions that relate to optimization of logistics chain and store systems has
been brisk. Improvements in efficiency, outmoding systems, implementation of
PCI-standards as well as changes in the value added tax are the drivers for
investments in store systems.
Business environment - Auto Trade
In the markets of IT solutions for car trade there were no signs of recovered
demand during the review period. The weak demand situation is consequence of the
downturn of market conditions in car trade. During January - December
approximately total 90 000 new cars were registered which is 35 per cent less
than during the same period in 2008. Solteq anticipates that extensive IT system
renewals will only start after the consumers' confidence improves and when the
sales of new cars picks up clearly compared to the current level.
Business development - Trade
During the review period the business operations of Solteq's Trade unit have
developed according to expectations. During the review period Solteq has further
focused on developing the quality of its activities and production of services
as well as developing the certified competence. This has had a positive effect
on demand and profitability. Domesticality combined with global products is an
advantage in the markets too.
During the review period the focus of demand was in ERP-systems for middle-sized
wholesale stores and chain stores. Like in the beginning of year 2009 the
interest towards optimization solutions also remained brisk.
Of the individual projects, the significant one was among others the system
renewal for Tuko Logistics that continued according to plans. A new Microsoft
NAV -based ERP-project was started with Pentik that was one of the new customers
among the ERP solutions.
Business development - Auto Trade
The reduction of car dealers' business operations was seen directly in the
demand for services of Solteq's Auto Trade unit. During the review period the
turnover and result of Auto Trade unit were weaker level compared to
corresponding period in 2008. The demand for services concentrated on the
development of customers' existing systems and solutions that support after
sales.
During the low season Solteq has focused on the development of its own product
range in order to be even more competitive when the investments start again.
INDUSTRY
Business environment - Industry
Precaution was a distinctive feature for the business environment of Industry
unit during the last quarter of 2009. Both middle- and especially large-sized
companies considered their investments extremely carefully and not many new
investment decisions have been made. Solteq sees that it is possible that the
bottom has been seen relating to the precaution.
Under a tight cost pressure an increasing number of customers are seeking more
efficiency to their activities by means of various IT solutions. The companies
which have not recently involved with large scale temporarily dismissals or
lay-offs of employees are the furthest with new investment decisions. During the
review period the customers of Industry unit sought additional efficiency to
their operations especially by means of maintenance IT solutions, whose demand
remained at relatively good level.
During the review period the demand for ERP solutions remained still slight.
Customers' interest focused especially on precision solutions relating to
efficiency improvement and better utilization of existing systems.
Business environment - Information Management
Solteq's Information Management business unit offers harmonization and
management of master data to its customers. The objective for harmonization is
to improve the quality of data that is recorded in the IT systems. Customer
enables information based leading in an integrated system by means of master
data management.
Among Solteq's clientele the interest towards information management solutions
was clearly more active than during the first half of the year 2009. When the
own economic outlooks of companies began to improve little by little and their
propensity to invest was increased during the third quarter, the companies have
now started again information management related projects. Companies seek
solutions to accurately specified unique needs and implement the best practices
by means of those projects.
The customers of Information Management unit consist mainly of industrial
companies. Solteq foresees that the public sector customers are growing customer
group in the future. Solteq believes that companies and public organizations
will continue their investments in information management, because evident cost
savings with a short payback period are achieved by means of harmonization.
Business development - Industry
During the review period customers' precaution was seen in the sales of ERP
solutions where the budgeted objectives were not achieved. Instead the demand
for maintenance IT solutions remained at good level compared to the market
situation.
Of the individual projects, the most significant was the SAP renewal of
Helsinki University which continued as planned. In addition a continuance
project was started with Componenta Oyj where SAP-system will be implemented in
Componenta group's three different locations in Finland.
Maintenance solutions were delivered to Kokkola Power, Finnsementti, Marioff and
Jack-Steel. The most significant new maintenance related IT-system project was
the delivery project to Kaukaa sawmill in Lappeenranta that was started with
UPM-Kymmene Oyj. The increased sales efforts that have increased the total
number of concluded deals were seen among the solicitation of new customers in
maintenance systems.
Solteq achieved a significant milestone relating to product development in
October when company announced Solax-software that is developed for global
Microsoft platform. Solax is used for management of fixed assets, materials,
works and maintenance contracts and the software is designed especially for the
needs of production plants, companies in processing and engineering industry as
well as companies providing maintenance services. The welcome of this software
has been very positive among the clientele and the first pilots have gone
according to plans.
Business development - Information Management
During the last quarter Information Management unit achieved its financial
objectives. Due to the weaker development during the beginning of the year the
objectives for the whole year 2009 were not achieved.
During the review period a large harmonization project was started and it will
continue until spring 2010. In addition this unit has made an agreement relating
to new outsourced master data maintenance service contract.
For the purposes of product and service development Solteq carried out
comparative survey in co-operation with ten actors that included companies and
organizations from public administration. The objective was to find out the best
current practices relating to master data management and to find out the
development targets of the future.
TURNOVER AND RESULT
Turnover decreased by 6,0% compared to the previous year and totalled
28.550 thousand euros (previous financial year 30.383 thousand euros).
Turnover consists of several individual customerships. At the most, one client
corresponds to a less than five percentages of the turnover.
The operating result for the financial year was 1.464 thousand euros (1.460
thousand euros), result before taxes was 1.329 thousand euros (1.136 thousand
euros) and profit for the financial year 935 thousand euros (867 thousand
euros).
Operating result was burdened by termination benefits in the amount of 440
thousand euros.
BALANCE SHEET AND FINANCING
The total assets amounted to 21.130 thousand euros (22.033 thousand
euros). Liquid assets totalled 258 thousand euros (695 thousand euros).
Solteq Group's interest-bearing liabilities were 6.909 thousand euros (6.316
thousand euros).
Solteq Group's equity ratio was 47,2 percent (43,6%).
INVESTMENTS, RESEARCH AND DEVELOPMENT
Gross investments during the financial year were 651 thousand euros (920
thousand euros).
Research and development
Solteq's research and development costs consist mainly of personnel costs. When
developing basic products, it is Solteq's strategy to cooperate with global
actors such as SAP, Wincor-Nixdorf and Microsoft and utilize their resources and
distribution channels. Own development efforts are focused on added value
products and developing tailored service concepts.
During the financial year development costs capitalized under IFRS
totalled 424 thousand euros (587 thousand euros). Most costs relating to
development are annually expensed due to their nature. Capitalised costs relate
to one development project. Amortisation according to plan will begin when the
project has been commercially implemented.
PERSONNEL
The number of permanent employees at the end of the review period was 235 (268).
Average number of personnel during the financial year was 240 (266). In the end
of the financial year the number of personnel could be divided as follows: Trade
120, Industry and Services 91 and Shared Functions 24.
RELATED PARTY TRANSACTIONS
Solteq's related parties include Solteq's board of directors, managing director
and the Group's management team. There have been no significant changes in the
company's related party transactions since the financial statements 2008.
SHARES, SHAREHOLDERS AND TREASURY SHARES
Solteq Plc's equity on 31.12.2009 was 1.009.154,17 euros which was represented
by 12.148.429 shares. The shares have no nominal value.
In the end of the financial year the amount of treasury shares in Solteq Plc's
possession was 258.436 shares. The amount of treasury shares represented 2,13 %
from the total amount of shares and votes in the end of the review period. The
equivalent value of acquired shares was 21.468 euros.
Exchange and rate
During the financial year, the exchange of Solteq's shares in the
Helsinki Stock Exchange was 0,5 million shares (1,0 million shares) and
0,7 million euros (1,5 million euros). Highest rate during the financial year
was 1,39 euros and lowest rate 1,02 euros. Weighted average rate of the share
was 1,25 euros and end rate 1,33 euros. The market value of the company's shares
in the end of the financial year totalled 16,2 million euros (14,1 million
euros).
Ownership
In the end of the financial year, Solteq had a total of 1.985 shareholders
(2.003 shareholders). Solteq's 10 largest shareholders owned 8.244 thousand
shares i.e. they owned 67,9 per cent of the company's shares and votes. Solteq
Plc's members of the board owned a total of 5.189 thousand shares which equals
42,7 per cent of the company's shares and votes.
ANNUAL GENERAL MEETING
Solteq Plc's annual general meeting on 27.3.2009 adopted the financial
statements for 2008 and the members of the board and the managing director were
discharged from liability for the financial year 2008.
The annual general meeting decided in accordance with the board's proposal to
distribute a dividend in the amount of 0,04 euros per share. The reconciliation
date for the dividend was 1.4.2009 and payment date 8.4.2009.
The annual general meeting decided to authorize the board of directors to decide
on acquiring the company's own shares so that the amount in
the possession of the company does not exceed 10 percent of the company's total
shares at that moment. The shares can be acquired in order to develop the
company's capital structure, finance and execute acquisitions or similar
arrangements or used as part of the incentive scheme of the personnel or convey
otherwise or be invalidated. The shares can be acquired in other proportion than
the shareholders' holdings. The shares are to be acquired through public
trading. The authorization is valid until the next annual general meeting.
BOARD OF DIRECTORS AND AUDITORS
Six members were elected to the board of directors. Seppo Aalto, Ari
Heiniö, Veli-Pekka Jokiniva, Ali Saadetdin, Jukka Sonninen and Markku
Pietilä will continue as members of the board. The board elected Ali Saadetdin
to act as the chairman of the board.
KPMG Oy Ab, Authorized Public Accountants, were re-elected as Solteq's auditors.
Frans Kärki, APA, acts as the lead partner.
EVENTS AFTER THE REVIEW PERIOD
After the review period no events have occurred that require reporting.
RISKS AND UNCERTAINITIES
The key uncertainties and risks in short term are related to the timing and
pricing of the business deals that are the basis for the turnover, changes in
the level of costs and the company's ability to manage extensive contract
agreements and deliveries.
The key business risks and uncertainties of the company are monitored constantly
as a part of the board of directors' and management team's work. The company has
not organized a separate internal audit organization or committee.
PROSPECTS
Relating to year 2010 Solteq believes that the annual turnover will be at the
same level as in 2009. The operating result instead is believed to improve and
to end up between 6-8 per cent.
PROPOSAL OF THE BOARD FOR DISTRIBUTION OF DIVIDEND
The distributable equity of the parent company Solteq Plc as at 31.12.2009 is
8.444.686,56 euros.
The Board of Directors proposes to the annual general meeting a dividend of
0,06 euros per each outstanding share for the financial year 2009(2008: 0,04
euros per share).
Financial Reporting
This financial statements bulletin has been prepared in accordance with IAS 34.
Solteq Group has applied the following new and revised standards starting from
1.1.2009: IFRS 8 - Operating Segments and IAS 1 - Presentation of Financial
Statements. The change of IFRS 8 has an effect on the segment information in
notes and the change of IAS 1 standard has an effect on the presentation of
profit and loss statement. In all other respects the same accounting policies as
in the annual financial statements 2008 have been applied.
The financial result is reported through two operating segments. The Trade
segment includes both the Trade business unit and the Auto Trade business unit.
The Industry and Information Management units belong to the Industry and
Services segment. The Application Services unit forms a part of both operating
segments. The segments have been defined based on the operations of company's
customer groups. The most essential product and service types of Solteq group of
companies are software services, licenses and hardware sales. Implementation of
IFRS 8 has not changed the operating segments reported by Solteq Group because
the segment information that was reported already earlier was based on the
management's internal reporting and that was prepared in accordance with the
same recognition and measurement principles as external reporting.
All forecasts and estimates presented in the interim report are based on the
current views of the management on the economic environment and outlook. Results
can differ from those implied as a result of, among other factors, changes in
economy, markets and competitive conditions, changes in the regulatory
environment and other government actions.
The financial statements bulletin is unaudited.
FINANCIAL INFORMATION
GROUP PROFIT AND LOSS ACCOUNT
(TEUR)
1.10.- 1.10.- 1.1.- 1.1.-
31.12.2009 31.12.2008 31.12.2009 31.12.2008
NET TURNOVER 8 226 8 653 28 550 30 383
Other operating
income 14 3 94 44
Raw materials and
services -1 937 -2 320 -7 524 -7 744
Staff expenses -4 261 -4 211 -14 868 -15 583
Depreciation -183 -178 -710 -718
Other operating
expenses -1 073 -1 290 -4 078 -4 922
OPERATING RESULT 786 657 1 464 1 460
Financial income and
expenses -39 -83 -135 -324
PROFIT BEFORE TAXES 747 573 1 329 1 136
Income taxes -213 -99 -394 -269
PROFIT FOR THE PERIOD
534 474 935 867
OTHER ITEMS OF TOTAL COMPREHENSIVE INCOME
Cash flow hedging -9 0 -9 0
Other items of total comprehensive income
after taxes -7 0 -7 0
TOTAL COMPREHENSIVE INCOME
527 474 928 867
Total profit for the period attributable to
Owners of the parent 534 474 935 867
Total comprehensive income attributable to
Owners of the parent 527 474 928 867
Earnings / share,
e(undiluted) 0,04 0,04 0,08 0,07
Earnings / share,
e(diluted) 0,04 0,04 0,08 0,07
Taxes corresponding to the result have been presented as taxes
for the period.
GROUP BALANCE SHEET (TEUR) 31.12.2009 31.12.2008
ASSETS
NON-CURRENT ASSETS
Intangible assets
Intangible rights 2 755 2 417
Goodwill 8 286 8 286
Tangible assets 2 645 2 707
Investments
Other shares and similar
rights of ownership 93 93
Deferred tax
assets 0 268
Total non-current
assets 13 779 13 771
CURRENT ASSETS
Short-term debtors 7 093 7 567
Cash in hand and at banks 258 695
Total current
assets 7 351 8 262
TOTAL ASSETS 21 130 22 033
EQUITY AND LIABILITIES
CAPITAL AND RESERVES ATTRIBUTABLE TO THE SHAREHOLDERS
OF THE PARENT COMPANY
Share capital 1 009 1 009
Company's own shares -337 -255
Share premium account 75 75
Account for cash flow
hedging -7 0
Unrestricted equity
fund 7 214 7 213
Retained earnings 1 084 693
Profit for the
financial period 935 867
Total equity 9 973 9 602
LIABILITIES
Non-current liabilities
Deferred tax liabilities 125 0
Other non-current liabilities 4 337 3 663
Current liabilities 6 695 8 768
Total liabilities 11 157 12 431
TOTAL EQUITY AND
LIABILITIES 21 130 22 033
FINANCIAL PERFORMANCE
INDICATORS (IFRS) 2009 2008 2007 2006 2005
Net turnover MEUR 28,6 30,4 27,9 23,2 21,6
Change in net turnover -6,0 % 8,8 % 20,6 % 7,4 % -0,7 %
Operating result MEUR 1,5 1,5 1,3 -0,5 1,2
% of turnover 5,1 % 4,8 % 4,7 % -2,1 % 5,7 %
Result before taxes MEUR 1,3 1,1 1,1 -0,5 1,5
% of turnover 4,7 % 3,7 % 3,9 % -2,1 % 6,8 %
Equity ratio, % 47,2 43,6 44,1 47,7 75,2
Gearing, % 66,7 % 58,5 % 69,0 % 15,8 % -7,9 %
Gross investments in
non-current assets MEUR 0,7 0,9 1,8 7,7 1,3
Return on equity, % 9,6 % 9,0 % 11,5 % 1,2 % 11,4 %
Return on investment, % 9,1 % 9,0 % 8,7 % -2,4 % 13,3 %
Personnel at end of
period 235 268 259 234 187
Personnel average
for period 240 266 252 240 193
KEY INDICATORS PER SHARE
Earnings / share, e 0,08 0,07 0,09 0,01 0,11
Earnings / share,
e(diluted) 0,08 0,07 0,09 0,01 0,11
Equity / share, e 0,84 0,80 0,81 0,81 1,00
QUARTERLY KEY INDICATORS (MEUR)
1Q/08 2Q/08 3Q/08 4Q/08
Net turnover 6,89 8,55 6,29 8,65
Operating result 0,05 0,37 0,38 0,66
Result before taxes -0,02 0,28 0,30 0,58
1Q/09 2Q/09 3Q/09 4Q/09
Net turnover 7,21 7,49 5,62 8,23
Operating result -0,19 0,41 0,46 0,78
Result before taxes -0,24 0,40 0,42 0,75
CASH FLOW STATEMENT (MEUR)
1-12/2009 1-12/2008
Cash flow from business
operations 0,18 2,94
Cash flow from capital
expenditure -0,65 -0,88
Cash flow from financing activities
Dividend distribution -0,48 -0,73
Own shares -0,08 -0,26
Loan agreement 0,59 -0,72
Cash flow from financing
activities 0,03 -1,71
Change in cash and cash
equivalents -0,44 0,35
TOTAL INVESTMENTS (TEUR)
1-12/2009 1-12/2008
Continuing operations,
group total 651 920
LIABILITIES (MEUR) 31.12.2009 31.12.2008
Company quorantee for
credit limits 2,61 1,18
Perfomance bonds 0,05 0,05
Lease contracts, machinery &
equipment 0,70 0,59
Lease liability,
premises 2,21 2,48
Pledged shares 1,59 0,00
DISTRIBUTION OF HOLDINGS BY SECTOR DECEMBER 31, 2009
Number of Shares and votes
holdings % Number
Private companies 92 19,8 % 2 404 260
Financial an insurance institutions 7 0,7 % 83 586
Public-sector organizations 1 0,1 % 11 300
Households 1 874 79,4 % 9 639 922
Non-profit organizations 5 0,0 % 3 971
Foreigners 6 0,0 % 5 390
Total 1 985 100,0 % 12 148 429
Total of Nominee-registered 4 0,7 % 84 826
DISTRIBUTION BY NUMBER OS SHARES DECEMBER 31,2009
Number of Shares and votes
Number of shares holdings % Number
1 - 100 348 0,2 % 27 910
101 - 1 000 1 103 4,4 % 536 461
1 001 - 10 000 456 11,6 % 1 410 455
10 001 - 100 000 67 15,0 % 1 826 562
100 001 - 1 000 000 8 15,1 % 1 829 356
1 000 000 - 3 53,7 % 6 517 685
Total 1 985 100,0 % 12 148 429
Total of nominee-registered 4 0,7 % 84 826
MAJOR SHAREHOLDERS DECEMBER 31, 2009 Shares and votes
Number %
1. Saadetdin Ali 3 481 383 28,7
2. Aalto Seppo 1 662 206 13,7
3. Profiz Business Solution Oyj 1 374 096 11,3
4. TP-Yhtiöt Oy 513 380 4,2
5. Roininen Matti 345 000 2,8
6. Solteq Oyj 258 436 2,1
7. Hakamäki Jorma 228 430 1,9
8. Saadetdin Katiye 156 600 1,3
9. Kiiveri Jouko 118 280 1,0
10. Halmet Jarmo 106 000 0,9
10 largest shareholders total 8 243 811 67,9 %
Total of nominee-registered 84 826 0,7 %
Others 3 819 792 31,4 %
Total 12 148 429 100,0 %
STATEMENT OF CHANGES IN GROUP EQUITY (TEUR)
A=Share capital
B=Share issue
C=Company's own shares
D=Share premium account
E=Account for cash flow hedging
F=Unrestricted equity fund
F=Retained earnings
H=Total
A B C D E F G H
EQUITY 1.1.2008 1 002 64 0 18 0 7 213 1 422 9 719
Total comprehensive income 867 867
Subscription issue 7 -64 57 0
Acquiring of own shares -255 -255
dividend distribution -728 -728
EQUITY 31.12.2008 1 009 0 -255 75 0 7 213 1 560 9 602
EQUITY 1.1.2009 1 009 0 -255 75 0 7 213 1 560 9 602
Total comprehensive income -7 935 928
Acquiring of own shares -82 -82
dividend distribution -475 -475
EQUITY 31.12.2009 1 009 0 -337 75 -7 7 213 2 020 9 973
CALCULATION OF FINANCIAL RATIOS
Solvency ratio, in percentage
equity x 100
----------------------------------
balance sheet total - advances received
Gearing
interest bearing liabilities - cash,
bank balances and securities X 100
-------------------------------------------
equity
Return on Equity (ROE) in percentage
profit or loss before taxation - taxes x 100
----------------------------------------
equity
Profit from invested equity in percentage
profit or loss before taxation +
interest expenses and other financing expenses x 100
----------------------------------------
balance sheet total - non-interest bearing
liabilities
Earnings per share
pre-tax result - taxes
+/- minority interest
------------------------------------
diluted average share issue
corrected number of shares
Diluted earnings per share
diluted profit before taxation -
taxes +/- minority interest
-----------------------------------------------
diluted average share issue
corrected number of shares
Equity per share
equity
-----------------------
number of shares
Financial Reporting
Solteq Plc's financial information bulletins in 2010 have been scheduled as
follows:
- Interim report 1-3/2010 Thursday 22.4.2010
- Interim report 1-6/2010 Wednesday 11.8.2010
- Interim report 1-9/2010 Thursday 21.10.2010
More investor information on Solteq's website at www.solteq.com
Additional information:
Managing Director Hannu Ahola
Telephone +358 20 1444 211 or +358 40 8444 211
E-mail hannu.ahola@solteq.com
CFO Antti Kärkkäinen
Telephone +358 20 1444 393 or +358 40 8444 393
E-mail antti.karkkainen@solteq.com
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