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2010-01-27 08:00:00 CET 2010-01-27 08:01:01 CET REGULATED INFORMATION Solteq Oyj - Financial Statement ReleaseSOLTEQ PLC'S FINANCIAL STATEMENTS BULLETIN 1.1.-31.12.2009Solteq 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 Distribution: NASDAQ OMX Helsinki Key Media [HUG#1377396] |
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