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2009-08-11 08:00:00 CEST 2009-08-11 08:02:39 CEST REGULATED INFORMATION Aldata Solution Oyj - Interim report (Q1 and Q3)ALDATA SOLUTION INTERIM REPORT JANUARY-JUNE 2009Aldata Solution Oyj STOCK EXCHANGE RELEASE 11 August 2009, at 9.00 a.m. (EET) ALDATA SOLUTION INTERIM REPORT JANUARY-JUNE 2009 Slow Market Conditions Continue, Prudent Provisions, Green Shoots * Market conditions continue to be challenging * Operating results excluding exceptional charges close to breakeven * Actions on restructuring and risk management produce one off charge * New contracts for G.O.L.D. and Apollo realize benefits of cross selling * High customer ratings for quality and reliability of latest G.O.L.D. release * Loyalty products win global comparison study by leading US industry analysts * Full year revenue outlook revised to be flat or slightly below the 2008 level, there is no change to operating profit, (EBIT) outlook Aldata in Q2 2009 (compared to Q2 2008) * Net sales decreased by 10.4% to EUR 16.1 million (EUR 18.0 million). * Gross profit decreased by 3.6% to EUR 14.9 million (EUR 15.4 million). * Operating profit, EBIT, decreased to EUR -6.7 million (EUR 1.2 million). * Operating costs in the second quarter include EUR 6,1 million of non-recurring items related to the previously announced restructuring program and to adopting a much tougher line on receivables from customers in emerging markets that have been most impacted by the current crisis. The operating loss, EBIT, excluding non-recurring items was EUR 0.6 million * Profit before taxes was EUR -7.1 million (EUR 1.2 million). * Net profit was EUR -7.2 million (EUR 1.1 million) and earnings per share, EPS, were -0.104 EUR (0.016 EUR). * Cash flow from operating activities was EUR -2.8 million (EUR 5.5 million). * Cash, cash equivalents and marketable securities amounted to EUR 11.9 million (EUR 13.6 million) and the Group had interest-bearing debt EUR 15.2 million (EUR 3.5 million). Aldata in January - June 2009 (compared to January - June 2008) * Net sales were EUR 33.0 million (EUR 37.1 million). * Gross profit was EUR 30.3 million (EUR 32.5 million). * Operating profit, EBIT, was EUR -6.9 million (EUR 2.3 million) and profit before taxes was EUR -7.1 million (EUR 1.8 million). * Net profit was EUR -7.4 million (EUR 1.6 million) and earnings per share, EPS, were -0.107 EUR (0.023 EUR). Message from Bertrand Sciard, President and CEO The nervous economic climate experienced in Q1 2009 continued in Q2 as predicted in our Q1 outlook and the operating environment still remains challenging. The actions taken to reduce our costs in France proved well timed. Cautious customer decisions together with the impact of the elongated legal process of the restructuring in France resulted in a small loss on underlying operations for the quarter. The green shoots of economic recovery are appearing and our pipeline promises increased activity in the months ahead as our investments in G.O.L.D. 5.08, Apollo, and Loyalty are beginning to bear fruit as planned. We must however take a very prudent approach to costs and liabilities in the present market. We have therefore taken in Q2 the full costs of the previously announced restructuring in France, the resolution of a long term legal liability with Groupe GrandVision, a much tougher line on receivables from customers in emerging markets, and a more risk averse approach to some long standing customer projects. These produce a combined one off negative charge of EUR 5.4 million resulting in an EBIT of EUR -6.0 million for the quarter. New customer contracts in Q2 came from all major geographies and included; Russian toy retailer Mir Detstva, German restaurant chain Cucina, French postal service operator Neolog, Swiss chemical giant Syngenta. The benefits of cross selling the newly acquired Apollo products into our existing G.O.L.D. customers were realized with deals such as those with Delhaize Belgium, one of Europe's largest retail groups. Our Loyalty products continue to gain customers and market recognition. They scored highest in a comprehensive study of the world's major suppliers by the leading US industry analyst group. Aldata Loyalty was the closest to delivering all of capabilities desired by customers scoring positive in 29 out of the 30 requirements. The latest release of our flagship G.O.L.D. product line, Version 5.08, brought plaudits from customers based on the advances made in ease of implementation, quality, and reliability. This follows an intensive period of investment, new practices, and innovative use of offshore resources by our development and QA teams. This important work enables us to serve our customers better today and win more business as the market regains its confidence. Aldata in the second quarter of 2009 April - June 2009 financial performance The Group's net sales were EUR 16.1 million (EUR 18.0 million), which represents a decline of EUR 1.9 million compared to second quarter net sales in the previous year. Product sales, which include licences for standard products, licences for customer specific developments, and maintenance revenues, accounted for 57% (47%) of total net sales. Consulting services accounted for 39% (46%), and third party licences and hardware accounted for 4% (7%). The Group's gross profit was EUR 14.9 million (EUR 15.4 million), which represents a 92% (86%) gross margin. Operating profit, EBIT, totaled EUR -6.7 million (EUR 1.2 million). Operating profit excluding non-recurring items was EUR -0.6 and excluding expenses for option plans EUR -0.4 million (EUR 1.3 million). Pre-tax profit was EUR -7.1 million (EUR 1.2 million), net profit was EUR -7.2 million (EUR 1.1 million) and earnings per share, EPS, were -0.104 EUR (0.016 EUR). Research and development costs in the second quarter totaled EUR 2.2 million (EUR 2.0 million), of which EUR 0.1 million (EUR 0.3 million) capitalized. EUR 0.1 million (EUR 0.1 million) of capitalized development costs were amortized. Aldata's reported order backlog includes product and third party product sales that will be recognized as revenues during the following twelve months. At the end of June 2009, the order backlog was EUR 22.5 million (EUR 20.0 million at the end of June 2008 and EUR 23.7 million at the end of year 2008). Business units in Q2 2009 Net sales of the Supply Chain Management (SCM) Software business unit were EUR 11.5 million (EUR 14.7 million). The gross profit was EUR 11.0 million (EUR 12.9 million) and the operating profit, EBIT, was EUR -4.0 million (EUR 0.6 million). Net sales of the In-Store Software business unit were EUR 4.6 million (EUR 3.3 million). The gross profit was EUR 3.9 million (EUR 2.7 million) and the operating profit, EBIT, was EUR 0.9 (EUR 1.0) million. There were no internal sales between the Group's business segments. Unallocated costs, the Group's shared items netted, decreased the Group's operating profit, EBIT, by EUR -3.6 million (EUR 0.3 million). Finance and investments Cash flow from operating activities in the second quarter was EUR -2.8 million (EUR 5.5 million) and net cash flow was EUR -3.0 million (EUR 5.0 million). The Group's capital expenditure on hardware and software purchases amounted to EUR 0.3 million (EUR 0.3 million) in second quarter of the year. Research and development In the second quarter Aldata's research and development costs were EUR 2.2 million (EUR 2.0 million). A total of EUR 0.1 million (EUR 0.3 million) of development costs were capitalized during the quarter. EUR 0.1 million (EUR 0.2 million) of capitalized development costs were amortized in the quarter. Aldata in the first half of 2009 January-June 2009 financial performance The Group's net sales were EUR 33.0 million (EUR 37.1 million), which represents a decline of EUR 4.2 million compared to first two quarters net sales in the previous year. Product sales, which include licences for standard products, licences for customer specific developments and maintenance revenues, accounted for 60% (45%) of total net sales. Consulting services accounted for 37% (46%) and third party licences and hardware accounted for 3% (9%). The Group's gross profit was EUR 30.3 million (EUR 32.5 million), which represents a 92% (88%) gross margin. Operating profit, EBIT, totaled EUR -6.9 million (EUR 2.3 million). Operating profit excluding non-recurring items was EUR -0.8 million and excluding expenses for option plans was EUR -0.6 million (EUR 2.5 million). Pre-tax profit was EUR -7.1 million (EUR 1.8 million), net profit was EUR -7.4 million (EUR 1.6 million) and earnings per share, EPS, were -0.107 EUR (0.023 EUR). Research and development costs in the financial period totaled EUR 5.0 million (EUR 4.1 million), of which EUR 0.3 million (EUR 0.5 million) capitalized. EUR 0.2 million (EUR 0.3 million) of capitalized development costs were amortized. Taxes for the period were EUR 0.3 million (EUR 0.2 million). Business Units in H1 2009 Net sales of the Supply Chain Management (SCM) Software business unit were EUR 23.8 million (EUR 29.9 million). The gross profit was EUR 22.4 million (EUR 26.6 million) and the operating profit, EBIT, was EUR -3.1 million (EUR 1.4 million). Net sales of the In-Store Software business unit were EUR 9.2 million (EUR 7.2 million). The gross profit was EUR 7.9 million (EUR 5.9 million) and the operating profit, EBIT, was EUR 2.0 (EUR 2.1) million. There were no internal sales between the Group's business segments. Unallocated costs, the Group's shared items netted, decreased the Group's operating profit, EBIT, by EUR -5.8 million (EUR 1.2 million). Finance and investments Cash flow from operating activities in the first half of the year was EUR -3.0 million (EUR 6.5 million) and net cash flow was EUR -3.6 million (EUR 4.4 million). At the end of June 2009, Aldata Group's cash, cash equivalents and marketable securities amounted to EUR 11.9 million (EUR 13.6 million) and total assets were EUR 60.9 million (EUR 55.8 million). The Group had interest-bearing debt EUR 15.2 million (EUR 3.5 million) and interest-bearing net liabilities totaled EUR 3.6 million (EUR -9.3 million). Short term receivables totaled EUR 25.2 million (EUR 27.1 million). The Group's solvency ratio was 25.3% (40.3 %), gearing was 23.7% (-42.4%), and shareholders' equity per share was 0.222 EUR (EUR 0.319). The Group's capital expenditure on hardware and software purchases amounted to EUR 0.5 million (EUR 0.9 million) during the first half of the year. Financial impact of none recurring items As previously reported, and following a long process as defined by French legislation and involving consultation with the French Works Council, the process investigating different options for restructuring the French subsidiary's operations were concluded in May 2009. The outcome of this investigation resulted in 35 employees leaving Aldata in Q2. The resulting lower fixed costs are more appropriate to servicing present and anticipated market requirements. As a reaction to the challenging economic climate, Aldata chose to adopt a more risk adverse view of some of its ongoing customer relations which focused on reviewing ongoing projects in countries that have been severely impacted by the current business environment In Q2 Aldata was able to resolve to the satisfaction of both parties a long term legal liability with Groupe GrandVision. The total impact of the above actions represents non-recurring costs of EUR 5.4 million in Q2. Research and Development In the first half of the year Aldata's research and development costs were EUR 5.0 million (EUR 4.1 million) and made up 15% (11%) of net sales. A total of EUR 0.3 million (EUR 0.5 million) of development costs were capitalized during the period. EUR 0.2 million (EUR 0.3 million) of capitalized development costs were amortized. At the end of the review period 139 (158) Aldata employees and 57 (0) contracted offshore resources were involved in R&D activities. These employees represent 26% (29%) of the Group's total personnel. Aldata's R&D centres are located in Paris, France and in Vantaa, Finland. Personnel Aldata Group employed 531 (543) persons at the end of June 2009, and on average had 554 (543) employees during the period. 30 June 2009 30 June 2008 By business unit Persons % Persons % SCM Software 398 75 450 83 In-Store Software 121 23 84 15 Group Administration 12 2 9 2 Total 531 100 543 100 Approximately 51% of personnel were employed by Aldata companies in France, 14% in Finland, 11% in Germany, 10% in the US, 5% in Sweden, 4% in Slovenia, 3% in the UK and 2% in Russia. Share performance The highest price of the Aldata Solution Oyj share during January - June 2009 was EUR 0.62 and the lowest price EUR 0.30. The average price was EUR 0.39 and the closing price EUR 0.45. The trading volume on the Helsinki Stock Exchange was EUR 8.5 million and altogether 21.5 million shares were traded, which represents 31% of the shares. Aldata Solution Oyj has 67.8 million shares outstanding. The number of shares outstanding has been unchanged during the period. The number of shareholders was 4.526 and the free float was 100% of the share capital at the end of June 2009. A total of 33.5% of Aldata Solution Oyj's shares were owned by foreign investors at the end of the period. Events after the review period On 14th July 2009 Aldata announced that the Company has appointed Group Controller Graham Howell as the Company's new Chief Financial Officer and as a member of the Executive Management Team. On 21st July 2009 Aldata Solution S.A.S. and Groupe GrandVision announced that relations between the two companies have been fully restored following a contractual dispute that originated in 2002. Risks and uncertainty factors Risks and uncertainty factors associated with Aldata's business are mainly related to general economic development and more specifically on the retail software market. The recession has affected and will affect Aldata's operations and any further worsening of the economic situation may result in delays to both ongoing or new large projects and investment decisions. Business risk management is a key target of the operational management. Through it, the company aims to ensure that the key risks to which business operations are exposed are identified and monitored for preventative action. Business risks are monitored within the company by the President and CEO, the Management Team and the business unit managers. Outlook Aldata expects the 2009 operating environment to remain challenging. Whilst the green shoots of economic recovery are appearing and our pipeline promises increased activity, it remains difficult to assess the impact this will have on our Q3 and Q4 results. Based on the current backlog, sales and services activity and pipeline, the Company expects net sales in 2009 to be flat or slightly down on 2008 levels and a profitable operative result (EBIT), excluding none recurring costs for the full-year. Helsinki, August 11, 2009 Aldata Solution Oyj Board of Directors Further information: Bertrand Sciard, President and CEO, tel. +358 10 820 8000 / Aldata Solution Oyj. Graham Howell, CFO, tel. +33 633 057 620 Aldata will hold a meeting for the media and financial analysts on 11 August, at 13.00 (EET) in Palace Kämp Hotel (Eteläranta 10, Helsinki). The presentation material will be published on the Group's website at www.aldata-solution.com Aldata 100% Retail-Wholesale At Aldata 100% of our business is dedicated to retail and wholesale business improvement. We provide our customers with modern, flexible and integrated software solutions specifically designed to increase productivity, performance and profitability. With over 24,000 successful installations across 52 countries, from convenience store to hypermarket, 480+ live warehouses and customers with 5 to 5,000 outlets, we consistently deliver the goods for retail and wholesale business improvement. Aldata Solution is a public company quoted on NASDAQ OMX Helsinki Ltd with the identifier ALD1V. More information at: www.aldata-solution.com. Distribution: NASDAQ OMX Helsinki Ltd Media TABLE PART Calculation methods This interim report has been prepared in accordance with IFRS standards and the same accounting principles as in 2008 financial statements but the report does not comply with all requirements of IAS 34, Interim Financial Reporting. As of January 1, 2009, Company has applied the following new and revised standards: IFRS 8 Operating Segments and IAS 1 Presentation of financial statements. IFRS 8 has not affected the reported segments. IAS 1 has affected the presentation of the income statement and statement of changes in shareholders' equity. The interim report is unaudited. CONSOLIDATED INCOME STATEMENT MEUR MEUR Change % MEUR Jan-Jun/ Jan-Jun/ Total 2009 2008 2008 Net sales 33,0 37,1 -11,2 % 70,0 Other operating income 0,4 0,4 -17,0 % 2,1 Operating expenses -39,5 -34,5 -14,5 % -67,0 Depreciations and impairments -0,7 -0,7 0,6 % -1,4 Operating profit -6,9 2,3 -395,6 % 3,7 Financial items -0,2 -0,6 65,8 % -1,0 Profit before taxes -7,1 1,8 -499,3 % 2,8 Income taxes -0,3 -0,2 -59,0 % -0,6 Minority interest 0,0 0,0 195,2 % 0,0 Profit for the financial period -7,4 1,6 -565,3 % 2,1 Earnings per share, EUR -0,097 0,023 0,031 Earnings per share, EUR(EPS), adjusted for dilution effect -0,097 0,023 0,031 Attributable to: Equity holders of the Company -6,7 1,6 2,1 Minority interest 0,0 0,0 0,0 Statement of comprehensive income: Net profit for the period -6,7 1,6 2,1 Other comprehensive income: Translation differences -0,3 0,4 0,4 Total comprehensive income -7,0 2,0 2,5 Total comprehensive income attributable to: Equity holders of the Company -7,0 2,0 2,5 Minority interest 0,0 0,0 0,0 CONSOLIDATED BALANCE SHEET MEUR MEUR MEUR 30 Jun 30 Jun 31 Dec 2009 2008 2008 ASSETS NON-CURRENT ASSETS Goodwill 15,0 9,4 15,0 Capitalized development cost 3,0 2,4 2,9 Intangible assets 1,7 0,3 1,8 Tangible assets 1,4 1,4 1,4 Investments 0,1 0,1 0,1 Other long-term assets 0,1 0,1 0,1 Deferred tax assets 2,5 0,9 1,9 NON-CURRENT ASSETS TOTAL 23,7 14,7 23,3 CURRENT ASSETS Inventories 0,0 0,3 0,2 Short-term receivables 25,2 27,1 25,6 Cash and cash equivalents 11,9 13,6 15,4 CURRENT ASSETS TOTAL 37,3 41,0 41,5 ASSETS TOTAL 60,9 55,8 64,8 SHAREHOLDERS' EQUITY AND LIABILITIES Shareholders' equity 15,3 21,9 22,8 Minority interest 0,1 0,1 0,1 Long-term loans 4,5 3,6 3,7 Short-term loans 41,0 30,2 38,2 EQUITY AND LIABILITIES TOTAL 60,9 55,8 64,8 CONSOLIDATED STATEMENT OF CHANGES IN 1000 EQUITY EUR Equity holders Share of Own Share premium Translation Retained parent Minority equity TEUR capital fund difference earnings company interest total EQUITY 1.1.2008 686 18 996 363 -426 19 619 82 19 701 Share based payments recognised against equity 0 0 0 525 525 0 525 Exercise of options 1 158 0 0 159 0 159 Comprehensive income 0 0 345 2 145 2 490 36 2 526 EQUITY 31.12.2008 687 19 154 708 2 244 22 793 117 22 911 Share based payments recognised against equity 0 0 0 201 201 0 201 Comprehensive income 0 0 -334 -6 669 -7 003 -15 -7018 EQUITY 30.6.2009 687 19 154 374 -4 224 15 991 102 16 094 CONSOLIDATED CASH FLOW STATEMENT MEUR MEUR MEUR Jan-Jun/ Jan-Jun/ Jan-Dec/ 2009 2008 2008 Cash flow from operating activities Operating result -6,9 2,3 3,7 Adjustment to operating result 2,8 0,1 -0,1 Change in working capital 1,4 3,8 1,6 Interest received and other financial income 0,1 0,2 0,6 Interest paid and other financial expenses -0,4 -0,3 -0,6 Taxes paid 0,0 0,5 0,5 Net cash from operating activities -3,0 6,5 5,7 Cash flow from investing activities Investments in tangible and intangible assets -0,4 -0,7 -1,9 Net cash used in investing activities -0,4 -0,7 -9,8 Cash flow before financing activities -3,5 5,8 -4,1 Cash flow from financing activities Long-term loans, repayments -0,1 0,0 0,0 Short-term loans, received 0,0 0,2 13,9 Short-term loans, repayments 0,0 -1,7 -3,7 Share issue 0,0 0,2 0,2 Net cash used in financing activities -0,1 -1,3 10,4 Net cash flow, total -3,6 4,4 6,3 Change in cash and cash equivalents -3,6 4,4 6,3 Cash and cash equivalents in the beginning of the period 15,4 9,1 9,1 Cash and cash equivalents at the end of the period 11,9 13,6 15,4 NOTES TO THE INTERIM REPORT COMMITMENTS AND CONTINGENCIES MEUR MEUR MEUR 30 Jun 2009 30 Jun 2008 31 Dec 2008 Loans from financial institutions 15,2 3,5 15,2 Mortgages 5,4 5,4 5,4 Leasing liabilities 9,6 12,2 11,4 Guarantees on behalf of company debt 0,1 0,1 0,1 Jan-Jun / Jan-Jun / KEY FIGURES, MEUR 2009 2008 Total 2008 Scope of Operations Net sales, MEUR 33,0 37,1 70,0 Average number of personnel 554 543 540 Profitability Operating profit , MEUR -6,9 2,3 3,7 Operating profit, % of net sales -21,0 6,3 5,3 Profit before taxes and minority interest, MEUR -7,1 1,8 2,8 Profit before taxes and minority interest, % of net sales -21,5 4,8 3,9 Return on equity, % (ROE) -77,2 15,3 10,2 Return on investment, % (ROI) -34,1 21,4 17,3 Financial Standing Quick ratio 0,9 1,3 1,1 Current ratio 0,9 1,4 1,1 Equity ratio, % 25,3 40,3 36,3 Interest-bearing net debt, MEUR 3,6 -9,3 0,4 Gearing, % 23,7 -42,4 1,9 Per Share Data Earnings per share, EUR (EPS) -0,107 0,023 0,031 Earnings per share, EUR (EPS), adjusted for dilution effect -0,107 0,023 0,031 Shareholders' equity per share, EUR 0,222 0,319 0,332 SEGMENT INFORMATION, MEUR Jan-Jun/ Jan-Jun/ BUSINESS SEGMENTS 2009 2008 Total 2008 Net sales to external customers Supply Chain Management Software 23,8 29,9 56,2 In-Store Software 9,2 7,2 13,8 Total 33,0 37,1 70,0 Operating result, continuing operations Supply Chain Management Software -3,1 1,4 0,3 In-Store Software 2,0 2,1 2,1 Total -1,1 3,5 2,5 Unallocated items -5,8 -1,2 1,3 Operating profit -6,9 2,3 3,7 Financial income and expenses -0,2 -0,6 -1,0 Result before taxes and minority interest -7,1 1,8 2,8 Taxes -0,3 -0,2 -0,6 Minority interest 0,0 0,0 0,0 Result from continuing operations -7,4 1,6 2,2 Result for the financial period -7,4 1,6 2,2 INCOME STATEMENT MEUR MEUR MEUR MEUR MEUR QUARTERLY FIGURES Q2/2009 Q1/2009 Q4/2008 Q3/2008 Q2/2008 Net sales 16,1 16,8 17,2 15,7 18,0 Other operating income 0,2 0,1 1,6 0,2 0,1 Operating expenses -22,7 -16,8 -17,1 -15,4 -16,6 Depreciations and impairments -0,3 -0,4 -0,4 -0,4 -0,4 Operating profit -6,7 -0,2 1,3 0,1 1,2 Financial items -0,4 0,2 -0,9 0,4 0,0 Profit before taxes -7,1 0,0 0,4 0,6 1,2 Income taxes -0,1 -0,2 -0,3 -0,1 -0,1 Minority interest 0,0 0,0 0,0 0,0 0,0 Profit for the financial period -7,2 -0,2 0,1 0,5 1,1 INCOME STATEMENT MEUR MEUR MEUR MEUR MEUR CUMULATIVE 1-6/09 1-3/09 1-12/08 1-9/08 1-6/08 Net sales 33,0 16,8 70,0 52,8 37,1 Other operating income 0,4 0,1 2,1 0,6 0,4 Operating expenses -39,5 -16,8 -67,0 -49,9 -34,5 Depreciations and impairments -0,7 -0,4 -1,4 -1,1 -0,7 Operating profit -6,9 -0,2 3,7 2,5 2,3 Financial items -0,2 0,2 -1,0 -0,1 -0,6 Profit before taxes -7,1 0,0 2,8 2,4 1,8 Income taxes -0,3 -0,2 -0,6 -0,2 -0,2 Minority interest 0,0 0,0 0,0 0,0 0,0 Profit for the financial period -7,4 -0,2 2,1 2,1 1,6 BALANCE SHEET MEUR MEUR MEUR MEUR MEUR 30.6.09 31.3.09 31.12.08 30.9.08 30.6.08 ASSETS NON-CURRENT ASSETS Goodwill 15,0 15,0 15,0 9,4 9,4 Capitalized development cost 3,0 3,0 2,9 2,6 2,4 Intangible assets 1,7 1,7 1,8 0,7 0,3 Tangible assets 1,4 1,4 1,4 1,3 1,4 Investments 0,1 0,1 0,1 0,1 0,1 Other long-term assets 0,1 0,1 0,1 0,1 0,1 Deferred tax assets 2,5 2,6 1,9 0,9 0,9 NON-CURRENT ASSETS TOTAL 23,7 23,9 23,3 15,2 14,7 CURRENT ASSETS Inventories 0,0 0,4 0,2 0,3 0,3 Short-term receivables 25,2 28,5 25,6 26,4 27,1 Cash and cash equivalents 11,9 14,8 15,4 8,8 13,6 CURRENT ASSETS TOTAL 37,3 43,9 41,5 35,5 41,0 ASSETS TOTAL 60,9 67,8 64,8 50,7 55,8 SHAREHOLDERS' EQUITY AND LIABILITIES Shareholders' equity 15,3 22,5 22,8 22,3 21,9 Minority interest 0,1 0,1 0,1 0,1 0,1 Non-current liabilities 4,5 4,6 3,7 2,0 3,6 Current liabilities 41,0 40,6 38,2 26,3 30,2 EQUITY AND LIABILITIES TOTAL 60,9 67,8 64,8 50,7 55,8 KEY FIGURES, MEUR Q2/2009 Q1/2009 Q4/2008 Q3/2008 Q2/2008 QUARTERLY FIGURES Scope of Operations Net sales, MEUR 16,1 16,8 17,2 15,7 18,0 Average number of personnel 554 559 540 539 543 Profitability Operating profit , MEUR -6,7 -0,2 1,3 0,1 1,2 Operating profit, % of net sales -41,5 -1,3 7,3 0,9 6,6 Profit before taxes and minority interest, MEUR -7,1 0,0 0,4 0,6 1,2 Profit before taxes and minority interest, % of net sales -43,8 -0,2 2,4 3,7 6,6 Return on equity, % (ROE) -77,2 -3,5 10,2 13,4 15,3 Return on investment, % (ROI) -34,1 6,7 17,3 18,7 21,4 Financial Standing Quick ratio 0,9 1,1 1,1 1,3 1,3 Current ratio 0,9 1,1 1,1 1,4 1,4 Equity ratio, % 25,3 33,4 36,3 45,1 40,3 Interest-bearing net debt, MEUR 3,6 0,7 0,4 -6,7 -9,3 Gearing, % 23,7 3,3 1,9 -29,8 -42,4 Per Share Data Earnings per share, EUR (EPS) -0,104 -0,003 0,001 0,007 0,016 Earnings per share, EUR (EPS), adjusted for dilution effect -0,104 -0,003 0,001 0,007 0,016 Shareholders' equity per share, EUR 0,222 0,327 0,332 0,324 0,319 |
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