2015-02-13 08:00:00 CET
2015-02-13 08:00:27 CET
REGULATED INFORMATION
Solteq Oyj - Financial Statement Release
SOLTEQ PLC’S FINANCIAL STATEMENTS BULLETIN 1.1.-31.12.2014 (IFRS)
Steady positive development despite the stagnant market situation
- Revenue totalled 40,9 million euros (38,1 million euros), which increased 7,4
per cent.
- The operating result for the financial year was 2.490 thousand euros (2.141
thousand euros), which increased 16,3 per cent.
- The company's operating margin was 6,1 per cent (5,6 per cent in 2013).
- Solteq Group's equity ratio was 48,0 per cent (43,5 per cent).
- Earnings per share was 0,13 euros (0,11 euros).
- Board proposes to the Annual General Meeting that a dividend of EUR 0,03 per
share will be paid for each share. In addition to this is proposed that the
Board be authorised to decide on the distribution of a dividend amounting to a
maximum of EUR 0,05 per share or of other assets as well as decide on the timing
and other details concerning the possible distribution.
Key figures
9-12/14 9-12/13 Change- % 1-12/14 1-12/13 Change- %
Revenue, TEUR 12 218 9 821 24,4 % 40 933 38 124 7,4 %
Operating profit, 909 429 111,9 % 2 490 2 141 16,3 %
TEUR
Profit for the 738 429 72,0 % 1 893 1 621 16,8 %
financial period,
TEUR
Earnings/share, e 0,05 0,03 0,13 0,11
Operating profit 7,4 % 4,4 % 6,1 % 5,6 %
- %
Equity ratio, % 48,0 % 43,5 %
Profit guidance
Group's operating result is expected to grow compared to financial year 2014.
CEO Repe Harmanen:
Despite the stagnant market situation, we were quite successful in our
operations in 2014. Our result can be considered moderate in terms of the key
figures and set objectives. We successfully met our key objective of maintaining
a steady long-term development of the company and its operations. Our strategic
decisions proved to be right, and in general they were implemented as planned.
The revenue, operating result and growth figures for 2014 are positive. The key
financial indicators and the key figures related to long-term continuity, such
as equity ratio and debt-equity ratio, improved in accordance with our
objectives. The most significant individual objective that will still require
additional measures in the future is reaching the EBIT margin target set for the
strategy period. The objective can be met by implementing our strategic programs
in accordance with the planned progress model and by accelerating the pace.
THE MARKET CHALLENGES US DAILY
The market situation remained stagnant in 2014, and creating growth continues to
be more challenging than it was a few years ago. We see that consumer demand in
the domestic market has an essential impact on the growth rate in our client
segments and thereby on the development of new products and services. The
drastic structural changes in the retail sector are reflected in all our
operations.
A clear trend among our clients is to focus on projects that ensure the
competitiveness of the basic systems. The other aims of the projects include
improvements in the growth prospects with respect to analytics and customer
insight to ensure effectiveness and ability to compete for customers.
The outlook for e-commerce solutions is clearly positive. The most progressive
organizations see e-commerce as a fully integrated part of their supply chain,
not as a separate form of business. For us, multichannel solutions are part of
everyday operations in retail, wholesale and logistics. The differences between
the various stages of the supply chain and between the operators have narrowed,
and sometimes it is impossible to make a difference between a logistics operator
and a retailer. The phenomena, behaviors and procedures that are typical in
consumer retail have expanded to B2B business and even to the manufacturing
industry. In the end, all organizations do business in one form or another.
The rapid changes and new trends in the market keep us alert. In the fast flow
of changes, we have to able to detect the trends that will have the biggest
impact on our clients - and on us.
OUR CLIENTS AND PARTNERS DEVELOP US
We have performed well with both our long-standing and our new clients in view
of long-term support and continuity services that ensure their development
paths. Our views and ideas concerning cooperation that expands beyond life
cycles have been received well, and our new clients have found this kind of
cooperation important. We will also continue long-term work with our old
clients, building bridges to new solutions. Active interaction with our clients
continues, and we have succeeded in establishing an open dialog with our clients
concerning their development trends and needs. Cooperation like this is a
proactive way of finding the right future direction for both the parties.
We have also developed our operations with our partner network. We are not able
to offer final solutions by working alone; together we are more. By joining our
forces with our partners, we will develop together for the benefit of our
clients and customers.
I would like to take this opportunity to thank our clients and partners for
their support during the past year.
STRATEGIC SOLUTIONS IN FOCUS
In 2014, we launched several projects for building paths from existing solutions
to new environments for our clients in accordance with our Bridge Model. The
model has been received well and the direction is right. This concept, which was
launched in 2011, is an essential part of ensuring continuity in our operations.
In implementing our strategy, we have also succeeded in expanding the solutions
offered to our clients in other respects and thereby offering improved solution
packages to all our clients.
In 2015, the aim in our development projects will be to improve the flexibility
and speed of our operating model. As to growth, we will continue our operations
in the HoReCa segment in line with our strategy, and we will strengthen our
growth in the logistics sector and in our internationalization activities. We
will continue our good work and thereby promote further growth for our company.
OUR STAFF DEVELOPS WITH US
The staff plays an important role in our operations. In the past year, we
succeeded in recruiting enthusiastic, development-oriented and competent staff.
We have been able to ensure that our experts and other professionals meet the
requirements brought by growth. Even if 2014 was a challenging year in certain
sectors, I am extremely satisfied with the professional skills of our staff
members and their commitment to their work. During a period of rapid and strong
growth, things are easy and simple. It is in hard times that abilities are put
to the real test. I would like to take this opportunity to extend my sincere
thanks to our staff members for their excellent contribution during the past
year. We will continue developing the diversity and wellbeing of our staff
members and offer them lifelong career paths that adapt to their changing life
situations. The possibility to develop one's competencies and focus on demanding
client work as a professional is what we want to offer to all our staff members
in the future as well.
FUTURE OUTLOOK
Especially during the last quarter of 2014, we succeeded well in certain client
projects, and thanks to them, both our revenue and operating profit for the last
quarter improved from the previous year. We expect 2015 to be similar to the
past year in many respects. There are signs of the market picking up: new
projects are being prepared, and unlike earlier projects are launched on time
without delays. We will monitor this trend and report on our observations in our
interim reports.
I look into the future with confidence and optimism.
BUSINESS ENVIRONMENT AND BUSINESS DEVELOPMENT
Solteq is a leading retail and service industry software service company. We
offer long-term partnership and the markets' widest range of retail and service
industry software services, from the optimisation of the entire supply chain to
the management of consumer-customer information. Our technology-independent
solutions help our customers to guide their business operations as efficiently
and profitably as possible.
Solteq Plc's reported segments are Grocery and special retail, HoReCa;
Wholesale, Logistics and Services and Enterprise Asset & Service Business
Management.
The aim of the segmentation is to respond to customer demand as a field total
supplier and therefore to improve the availability of services and ease for our
customers.
Grocery and special retail, HoReCa
Solteq's Grocery and Special Retail Segment provides its clients with total
solutions that they can utilise to improve efficiency in terms of logistics,
store operations, customer service, point of sale operations, as well as loyal
customer management.
The grocery and special retail solutions help optimise the management of the
product selection, space, deliveries, logistics and customer satisfaction while
increasing sales and improving the result. The solutions speed up the basic
operations, improve delivery reliability, reduce storage value, increase stock
turnover and enhance predictability. The store always has the right products in
the right place, at the right time, and at the right price.
During the review period the revenue of the Grocery and Special Retail segment
totalled 20,5 million euros (18,0 million euros) and the operating result was
1,2 million euros (1,1 million euros).
Despite the weak market development in our client sectors, the revenue of the
segment grew significantly. During the financial period, we implemented and
launched significant service expansion for our existing clients, but the
development of our new client sales was also positive. The operating result of
the segment improved, but we still need to utilize our improvement potential in
order to reach our target level.
Wholesale, Logistics and Services
Solteq's Wholesale, Logistics and Services Segment provides its clients with ERP
and financial management systems, as well as optimisation, integration and
reporting solutions that support these systems.
Solteq's solutions help clients manage their operations and enhance purchases,
sales, stock management and reporting. The systems can be utilised to improve
delivery reliability, reduce storage value, increase stock turnover and enhance
predictability. Materials flow management ensures that the right goods reach the
right customers at the right time, packed in an optimal manner.
Solteq's wholesale, logistics and services systems improve the effectiveness of
operations and enable more flexible and versatile customer service. At the same
time, automated data management enhances the company's internal operations.
Solteq's solutions are used daily by a large number of clients representing
various industries and sectors, such as wholesale, retail and public
administration.
During the review period the revenue of the Wholesale, Logistics and Services
segment totalled 15,4 million euros (15,0 million euros) and the operating
result was 0,6 million euros (0,3 million euros).
The business of the segment is based on systems that are in different phases of
their life cycles and related services. During the financial period, we
implemented and launched in-segment projects in which existing clients adopted
technologically new systems. Therefore, the increase in the revenue remained on
the general market growth level. The improved operating result was mainly due to
the development of the quality of the system projects and enhanced resourcing.
The aim is to improve the operating result level further by developing the
production model of the software services.
Enterprise Asset & Service Business Management
Solteq's Enterprise Asset & Service Business Management Segment provides its
clients with ERP and master data management solutions.
The enterprise resource planning solutions developed for the optimisation of
service processes help clients manage their operations in many ways, for
instance enhance production plant reliability, task and resources management,
field work, sales and customer service, partner network management and materials
management. The solutions are utilised by a large number of clients representing
various industries and sectors, such as energy production, maintenance
services, life cycle services, engineering and technical services of cities and
municipalities, property management services, and home and care services.
The Enterprise Asset & Service Business Management Segment also provides client
companies with services and products related to business critical data (master
data) in the form of master data improvement projects, data maintenance services
outsourced to master data service centers, software technologies for master data
management, and consultation services. The aim of these services is to ensure
that the data in the systems that support the clients' enterprise resource
planning and decision making processes are of high quality, compatible and up-to
-date. Solteq's master data management solutions are used by clients across
industries and sectors.
During the review period the revenue of the Enterprise Asset & Service Business
Management segment totalled 5,0 million euros (5,2 million euros) and the
operating result was 0,7 million euros (0,7 million euros).
Unlike in other segments, the main business of the segment is based on the
development, supply and marketing of the segment's own software products. During
the review period, we implemented in-segment client projects in which the
clients adopted new product generations. The revenue development of the segment
remained on the previous year's level, but the growth of new product generations
within the segment was significant. The operating result of the segment remainedon a good level. We will improve the growth and profitability of our operations
by developing products that meet the needs of the client segments better and by
looking for new market areas and channels. The incorporation of the business of
the segment at the turn of the year will allow the development of a product area
specific, specialised strategy during 2015.
REVENUE AND RESULT
Turnover by operation:
% 1-12/14 1-12/13
Software services 62 66
Licences 26 27
Hardware 12 7
Revenue increased by 7,4 % compared to the previous year and totalled 40.933
thousand euros (previous financial year 38.124 thousand euros).
Revenue consists of several individual customerships. Exceptionally, income from
one customer exceeds 10% of the Group's total revenue.
The operating result for the financial year increased 16,3 % and was 2.490
thousand euros (2.141 thousand euros), result before taxes was 2.313 thousand
euros (1.927 thousand euros) and result for the financial year 1.893 thousand
euros (1.621 thousand euros).
During the last quarter of the financial year, we implemented one significant
and several smaller client projects. The increased revenue and improved
profitability in the last quarter are explained by the fact that we succeeded in
these projects better than anticipated in the original plans.
BALANCE SHEET AND FINANCING
The total assets amounted to 25.038 thousand euros (25.386 thousand euros).
Liquid assets totalled 2.530 thousand euros (2.367 thousand euros). In addition
to liquid assets, the company has unused bank account limits amounting to a
total of 1.500 thousand euros in the end of the financial year.
The Group's interest-bearing liabilities were 4.437 thousand euros (5.555
thousand euros).
Solteq Group's equity ratio was 48,0 per cent (43,5 per cent).
INVESTMENTS, RESEARCH AND DEVELOPMENT
Gross investment during the review period was 958 thousand euros (957 thousand
euros). The investments of the financial period are mainly replacement
investments. The investments in the reference year are also mainly replacement
investments.
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, Symphony EYC 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 review period product development costs were not amortized (none in
the reference year, either).
PERSONNEL
The number of permanent employees at the end of the review period was 279 (277).
In the end of the review period the number of personnel could be divided as
follows: Grocery and special retail, HoReCa segment: 109 people; Wholesale,
Logistics and Services: 82 people; Enterprise Asset & Service Business
Management; 39 people and 49 people in shared functions.
The key figures for Group's personnel:
+-----------------------------------------------+------+------+------+
| |2014 |2013 |2012 |
+-----------------------------------------------+------+------+------+
|Average number of the personnel during the year|281 |287 |270 |
+-----------------------------------------------+------+------+------+
|Employee benefit expenses (1,000 €) |15 234|15 850|15 656|
+-----------------------------------------------+------+------+------+
RELATED PARTY TRANSACTIONS
Solteq's related parties include the board of directors, managing director, the
management team and the companies owned by the management.
SHARES, SHAREHOLDERS AND TREASURY SHARES
Solteq Plc's equity on 31.12.2014 was 1.009.154,17 euros which was represented
by 14.998.061 shares. The shares have no nominal value. All shares have an equal
entitlement to dividends and company assets. Shares are governed by a redemption
clause.
At the end of the review period, the amount of treasury shares in Solteq Plc and
the group companies Solteq Management Oy's and Solteq Management Team Oy's
possessions were 866.242 shares. The amount of treasury shares represented 5,8 %
of the total amount of shares and votes at the end of the review period. The
equivalent value of acquired shares was 58.286 euros.
During the review period, one flagging announcement was made. The Mutual
Insurance Company Pension Fennia and LocalTapiola Mutual Pension Insurance
Company announced a merger, in which they will form Elo Mutual Pension
Insurance Company starting from 1.1.2014. The realization of the merger led to
the change in ownership, which was announced on 3 January 2014. Elo Mutual
Pension Insurance Company owned on 3 January 2014 more than 10 % of the shares
and votes in Solteq Plc.
Exchange and rate
During the financial year, the exchange of Solteq's shares in the Helsinki Stock
Exchange was 0,8 million shares (0,9 million shares ) and 1,2 million euros (1,4
million euros). Highest rate during the financial year was 1,59 euros and lowest
rate 1,33 euros. Weighted average rate of the share was 1,45 euros and end rate
1,33 euros. The market value of the company's shares in the end of the financial
year totalled 19,9 million euros (21,9 million euros).
Ownership
In the end of the financial year, Solteq had a total of 1.689 shareholders
(1.758 shareholders). Solteq's 10 largest shareholders owned 11.267 thousand
shares i.e. they owned 75,1 per cent of the company's shares and votes. Solteq
Plc's members of the board owned a total of 5.574 thousand shares which equals
37,2 per cent of the company's shares and votes.
ANNUAL GENERAL MEETING
At Solteq Plc's Annual General Meeting on 17 March 2014 the 2013 financial
statements were adopted and the members of the board and the managing director
were discharged from liability for the 2013 review period.
The Annual General Meeting accepted that the Board is authorized in accordance
with the Finnish Companies Act 13 chapter 6§ 2 paragraph to decide on a maximum
dividend of 0,05 euros per share or other distribution of funds from the
distributable equity fund as well as to decide upon the timing of the
distribution and other details was accepted. The authorization is valid until
the beginning of the next Annual General Meeting.
The Annual General Meeting authorized the Board of Directors to decide on the
purchase of the Company's own shares to improve the capital structure, to be
used as a part of remuneration of personnel, to finance and execute business
acquisitions and other business arrangements or to be further transferred or
cancelled. The proposal includes authorization to take company's own shares as a
pledge. According to the proposal, the total number of the shares purchased
shall not exceed 10 percent of all shares of the Company and they can be
purchased otherwise than in proportion to the shareholdings of the shareholders.
The shares shall be purchased through public trading. The authorization includes
that the Board of Directors may decide the terms and other matters concerning
the purchase of own shares. The authorization is effective until the next Annual
General Meeting.
The Annual General Meeting authorized the Board of Directors to give new shares
or convey company's own shares. The authorization would be executed by one or
more share issues, maximum total amount being 3.000.000 shares. The
authorization includes a right to deviate from the shareholders' pre-emptive
right of subscription. The authorization includes that the Board of Directors
may decide the terms and other matters concerning the share issue. The
authorization is effective until the next Annual General Meeting.
BOARD OF DIRECTORS AND AUDITORS
Seven members were elected to the Board of Directors. Ali Saadetdin, Seppo
Aalto, Markku Pietilä, Sirpa Sara-aho, Jukka Sonninen and Matti Roininen
continued as members of the board. Olli Välimäki was elected as a new member of
the Board. The Board elected Ali Saadetdin to act as the Chairman of the Board.
KPMG Oy Ab, Authorized Public Accountants, was re-elected as Solteq's auditors.
Lotta Nurminen, APA, acted as the chief auditor.
EVENTS AFTER THE REVIEW PERIOD
On December 11, Company's Board of Directors decided to execute an arrangement
in which the business operations of Enterprise Asset & Service Business
Management -segment is transferred to a new subsidiary which is completely
owned by the company. The business transfer arrangement was executed on
1.1.2015.
The purpose of the arrangement is to enhance group's operations and
controllability by dividing different business models to separate companies.
New subsidiary concentrates strongly on research and development work and
marketing of its own product branch while the parent company concentrates on
providing software solutions to retail and logistics industries. The
arrangement does not have impact on the reporting structure of the group.
RISKS AND UNCERTAINTIES
The key uncertainties and risks in short term are related to the timing and
pricing of business deals that are the basis for revenue, 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 duties. The company
has not organized a separate internal audit organization or committee.
PROPOSAL OF THE BOARD OF DIRECTORS ON THE DISPOSAL OF PROFIT FOR THE FINANCIAL
YEAR
At the end of the financial period 2014, the distributable equity of the Group's
parent company is 10.893.972,08 euros.
The Solteq Plc Board proposes to the Annual General Meeting that a dividend of
EUR 0.03 per share will be paid for each share. In view of the current number of
the shares, this would mean the distribution of approx. 450 thousand euros to
the shareholders.
In addition to this is proposed that the Board be authorised, on the basis of
Chapter 13, Section 6, Sub-section 2 of the Finnish Companies Act, to decide on
the distribution of a dividend amounting to a maximum of 0,05 EUR per share or
of other assets from the distributable equity reserve, as well as decide on the
timing and other details concerning the possible distribution. In view of the
current number of the shares, this would mean the distribution of approx. 750
thousand euros to the shareholders (In the Annual General Meeting 2014 the Board
got an authorisation for a dividend, or other assets from the distributable
equity reserve amounting to a maximum of EUR 0.05. The Board decided, based on
this authorisation, on 25.11.2014 on a dividend payment of EUR 0.03).
No essential changes have taken place in the company's financial situation after
the end of the financial period. The liquidity of the company is good, and in
the Board's estimation the proposed distribution of dividend or other assets
will not endanger the company's financial standing.
Financial reporting
Financial Statements Bulletin 1.1.-31.12.2014 has been prepared in accordance
with IAS 34 Interim Financial Reporting -standard. The financial statement
figures presented in the bulletin are based on the company's audited financial
statements using the same accounting policies. The Auditor's Report was provided
on 12/2/2015.
The financial result is reported through three business areas. Grocery and
special retail, HoReCa segment, Wholesale, Logistics and Services and Enterprise
Asset & Service Business Management. The most essential product and service
types of the Solteq group of companies are software services, licenses and
hardware sales.
All forecasts and estimates presented in the bulletin are based on the current
views of management on the economic environment and outlook. Because of this,
the results can differ as a result of, among other factors, changes in economy,
markets and competitive conditions, changes in the regulatory environment and
other government actions.
FINANCIAL INFORMATION
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(TEUR) 1.10.- 1.10.- 1.1.- 1.1.-
31.12.2014 31.12.2013 31.12.2014 31.12.2013
Revenue 12 218 9 821 40 933 38 124
Other income 0 38 0 50
Materials and services -4 668 -2 528 -12 508 -9 151
Employee benefit expences -5 026 -5 102 -18 897 -19 386
Depreciation and impairments -344 -310 -1 320 -1 228
Other expenses -1 271 -1 490 -5 718 -6 268
OPERATING RESULT 909 429 2 490 2 141
Financial income and
expenses -49 -74 -177 -214
RESULT BEFORE TAXES 860 355 2 313 1 927
Income tax expences -122 74 -420 -306
RESULT FOR THE FINANCIAL PERIOD
738 429 1 893 1 621
OTHER COMPREHENSIVE INCOME TO BE RECLASSIFIED TO PROFIT OR
LOSS IN SUBSEQUENT PERIODS
Cash flow hedges 0 -6 6 27
Other comprehensive income,
net of tax 0 -5 5 21
TOTAL COMPREHENSIVE INCOME
738 424 1 898 1 642
Total profit for the period attributable to
Owners of the parent 738 429 1 893 1 621
Total comprehensive income attributable to
Owners of the parent 738 424 1 898 1 642
Earnings / share,
e(undiluted) 0,05 0,03 0,13 0,11
Earnings / share,
e(diluted) 0,05 0,03 0,13 0,11
Taxes corresponding to the result have been presented as taxes
for the period.
CONSOLIDATED BALANCE SHEET (TEUR) 31.12.2014 31.12.2013
ASSETS
NON-CURRENT ASSETS
Tangible assets 1 652 1 399
Intangible assets
Goodwill 12 730 12 730
Other intangible rights 2 231 2 853
Available-for-sale
financial assets 555 546
Trade and other receivables 15 32
Total non-current
assets 17 183 17 560
CURRENT ASSETS
Inventories 35 156
Trade and other receivables 5 290 5 303
Cash and cash equivalents 2 530 2 367
Total current
assets 7 855 7 826
TOTAL ASSETS 25 038 25 386
EQUITY AND LIABILITIES
EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT
Share capital 1 009 1 009
Share premium reserve 75 75
Hedging reserve -23 -28
Reserve for own shares -1 069 -933
Distributable equity
reserve 6 392 6 392
Retained earnings 5 328 4 331
Total equity 11 712 10 846
Non-current liabilities
Deferred tax liabilities 512 593
Financial liabilities 2 591 3 695
Current liabilities 10 223 10 252
Total liabilities 13 326 14 540
TOTAL EQUITY AND
LIABILITIES 25 038 25 386
CASH FLOW STATEMENT (MEUR)
1-12/2014 1-12/2013
Cash flow from business
operations 3,27 3,83
Cash flow from capital
expenditure -0,24 -0,10
Cash flow from financing activities
Own shares -0,14 0,00
Dividend distribution -0,90 -0,90
Loan agreements -1,82 -1,71
Cash flow from financing
activities -2,86 -2,61
Change in cash and cash
equivalents 0,16 1,12
STATEMENT OF CHANGES IN GROUP EQUITY (TEUR)
A=Share capital
B=Reserve for own shares
C=Share premium account
D=Hedging reserve
E=Distributable equity reserve
F=Retained earnings
G=Total
A B C D E F G
EQUITY 1.1.2013 1 009 -933 75 -49 6 368 3 607 10 077
Total comprehensive income 21 1 621 1 642
The fees for the Board Members 24 24
in the form of treasury shares
Dividend distribution -898 -898
EQUITY 31.12.2013 1 009 -933 75 -28 6 392 4 331 10 846
EQUITY 1.1.2014 1 009 -933 75 -28 6 392 4 331 10 846
Total comprehensive income 5 1 893 1 898
Acquiring of own shares -135 -135
Dividend distribution -896 -896
EQUITY 31.12.2014 1 009 -1 069 75 -23 6 392 5 328 11 712
SEGMENT INFORMATION
Turnover by segment:
Me 1-12/14 1-12/13 Change
Grocery and special retail, HoReCa 20,5 18,0 +2,6
Wholesale, Logistics and Services 15,4 15,0 +0,4
Enterprise Asset & Service Business Management 5,0 5,2 -0,2
Total 40,9 38,1 +2,8
Operating result by segment:
Me 1-12/14 1-12/13 Change
Grocery and special retail, HoReCa 1,2 1,1 +0,1
Wholesale, Logistics and Services 0,6 0,3 +0,3
Enterprise Asset & Service Business Management 0,7 0,7 0,0
Total 2,5 2,1 +0,4
QUARTERLY KEY INDICATORS (MEUR) 1Q/13 2Q/13 3Q/13 4Q/13
Net turnover 9,99 9,73 8,59 9,82
Operating result 0,54 0,54 0,63 0,43
Result before taxes 0,48 0,49 0,60 0,36
1Q/14 2Q/14 3Q/14 4Q/14
Net turnover 9,87 10,52 8,33 12,22
Operating result 0,59 0,55 0,44 0,91
Result before taxes 0,51 0,54 0,41 0,86
TOTAL INVESTMENTS (TEUR)
1-12/2014 1-12/2013
Continuing operations,
group total 958 957
LIABILITIES (MEUR) 31.12.2014 31.12.2013
Business mortages 10,00 10,00
Other lease liabilities 0,15 0,20
Lease liabilities for premises 4,90 3,34
RELATED PARTY TRANSACTIONS (TEUR) 31.12.2014 31.12.2013
Renting arrangements 85 83
Outsourcing expenses 0 2
Transactions
with the
insiders
have been
done at
market price
and are part
of the
company's
normal
software
service
business.
FAIR VALUES
OF FINANCIAL
ASSETS AND
FINANCIAL
LIABILITIES
The fair
values of
the
financial
assets and
liabilities
are mainly
the same as
the book
values on
both
31.12.2014
and
31.12.2013.
Hence they
are not
presented in
table form
in the
bulletin.
DISTRIBUTION OF HOLDINGS BY SECTOR DECEMBER 31, 2014
Number of Shares and votes
holdings % Number
Private companies 67 19,5 % 2 922 272
Financial and insurance institutions 8 1,8 % 265 945
Public-sector organizations 2 17,6 % 2 644 917
Households 1 602 61,0 % 9 156 114
Non-profit organizations 3 0,0 % 2 231
Foreigners 7 0,0 % 6 582
Total 1 689 100,0 % 14 998 061
Total of Nominee-registered 7 1,3 % 190 509
DISTRIBUTION BY NUMBER OF SHARES DECEMBER 31,2014
Number of Shares and votes
Number of shares holdings % Number
1 - 100 323 0,2 % 24 551
101 - 1 000 936 3,0 % 449 167
1 001 - 10 000 359 7,7 % 1 161 046
10 001 - 100 000 55 9,3 % 1 399 762
100 001 - 1 000 000 12 20,4 % 3 063 766
1 000 000 - 4 59,3 % 8 899 769
Total 1 689 100,0 % 14 998 061
Total of Nominee-registered 7 1,3 % 190 509
MAJOR SHAREHOLDERS DECEMBER 31, 2014
Shares and votes
Number %
1. Saadetdin Ali 3 481 383 23,2 %
2. Keskinäinen Työeläkevakuutusyhtiö Elo 2 000 000 13,3 %
3. Profiz Business Solution Oyj 1 756 180 11,7 %
4. Aalto Seppo 1 662 206 11,1 %
5. Keskinäinen Työeläkevakuutusyhtiö Varma 644 917 4,3 %
6. Roininen Matti 410 000 2,7 %
7. Pirhonen Jalo 405 780 2,7 %
8. Solteq Management Oy 400 000 2,7 %
9. Solteq Management Team Oy 350 000 2,3 %
10. Saadetdin Katiye 156 600 1,0 %
10 largest shareholders total 11 267 066 75,1 %
Total of nominee-registered 190 509 1,3 %
Others 3 540 486 23,6 %
Total 14 998 061 100,0 %
FINANCIAL PERFORMANCE
INDICATORS (IFRS) 2014 2013 2012 2011 2010
Net turnover MEUR 40,9 38,1 39,0 27,1 27,0
Change in net turnover 7,4 % -2,3 % 43,7 % 0,5 % -5,4 %
Operating result MEUR 2,5 2,1 2,7 1,5 -4,3
% of turnover 6,1 % 5,6 % 7,0 % 5,4 % -16,0 %
Result before taxes MEUR 2,3 1,9 2,4 1,3 -4,5
% of turnover 5,7 5,1 % 6,2 % 4,7 % -16,6 %
Equity ratio, % 48,0 43,5 37,2 34,2 30,6
Gearing, % 16,3 % 29,4 % 51,5 % 65,4 % 132,8 %
Gross investments in
non-current assets MEUR 1,0 1,0 7,4 0,5 0,2
Return on equity, % 16,8 % 15,5 % 21,2 % 16,0 % -48,7 %
Return on investment, % 15,5 % 13,2 % 20,8 % 13,1 % -29,3 %
Personnel at end of
period 279 277 288 212 220
Personnel average
for period 281 287 270 211 233
KEY INDICATORS PER SHARE
Earnings / share, e 0,13 0,11 0,12 0,08 -0,32
Earnings / share,
e(diluted) 0,13 0,11 0,12 0,08 -0,32
Equity / share, e 0,79 0,72 0,67 0,52 0,45
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's audited financial statements for the year 2014 were published in the
company's web site on 13/2/2015. The company does not publish an Annual Report.
Solteq Plc's financial information bulletins in 2015 have been scheduled as
follows:
- Interim Report 1-3/2015 on Friday April 24, 2015 at 9 am
- Interim Report 1-6/2015 on Friday July 17, 2015 at 9 am
- Interim Report 1-9/2015 on Friday October 16, 2015 at 9 am
More investor information is available from Solteq's website at www.solteq.com
Additional information:
CEO Repe Harmanen,
Tel +358 400 467 717,
E-mail repe.harmanen@solteq.com
CFO Antti Kärkkäinen
Tel +358 40 8444 393,
E-mail antti.karkkainen@solteq.com
Distribution:
NASDAQ OMX Helsinki
Key media
www.solteq.com
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