2009-01-28 08:00:00 CET
2009-01-28 08:00:58 CET
REGULATED INFORMATION
Solteq Oyj - Financial Statement Release
SOLTEQ PLC'S FINANCIAL STATEMENTS BULLETIN 1.1.-31.12.2008
Solteq Plc Stock Exchange Bulletin 28 January 2009 at 9.00 am
- Turnover increased by 8,8 % and totalled 30,4 million euros (27,9
million euros)
- Operating result increased 0,2 million euros and amounted to 1,5
million euros (1,3 million euros)
- Earnings per share were 0,07 euros (0,09 euros)
- The Board of Directors proposes to the annual general meeting a
dividend of 0,04 euros per each outstanding share for the financial
year 2008
- Board of Directors will comment the financial objectives for year
2009 in its February's meeting.
KEY FIGURES
Turnover by operation:
% 1-12/08 1-12/07
Services 61 63
Licences 26 24
Hardware 13 13
Turnover by segment:
Me 1-12/08 1-12/07 Change
Trade 19,8 18,5 +1,3
Industry and services 10,6 9,4 +1,2
Total 30,4 27,9 +2,5
Operating result by segment:
Me 1-12/08 1-12/07 Change
Trade 1,6 1,0 +0,6
Industry and services -0,1 0,3 -0,4
Total 1,5 1,3 +0,2
Managing Director Hannu Ahola:"Despite of the general economical uncertainty that has increased to
the year-end, we achieved the forecasted yearly level of turnover and
operating result that both improved compared to the previous year.
Also the amount of new sales remained good level in many sectors and
that will bring along workload also for the beginning of year 2009.
On the other hand it is clearly evident that our operations include
sub-areas in which the workload will be clearly decreased during
2009. In consequence we had to begun co-operation negotiations with
employees in the beginning of 2009 to secure the favorable
development of result.
Although we're forced to do cutting-offs in some areas, in these days
it is even more important than earlier that we increase the taken
measures from before to develop our customer service, processes and
products without jeopardizing the development of profitability. This
is the only way to secure our company's long-term competitiveness and
success."
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 lead
their business even better than before and to improve their
profitability.
Solteq Plc's operations are internally divided to five separate
units. The result is monitored through two business segments. 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 acts as a separate subsidiary that serves with the
support of the parent company's organization Solteq's customers
operating in Russia.
TRADE
Business environment - Trade
The last quarter of 2008 was divaricated in the business branch
trade. According to the Federation of Finnish Commerce the Christmas
sales were equivalent to year 2007. However, the increase of 2-3 per
cent that was estimated as late as November was not reached. While
the economic outlook has became misty, several companies in business
branch trade have begun co-operation negotiations with their
employees, set denial of investments or taken other measures that aim
to improved profitability.
The economic outlook is both challenge and possibility for the demand
for IT-solutions. It was in evidence during the last quarter of 2008
that decision making related to renewals of old IT-systems were
postponed for next financial year. Meanwhile the increasing demand
for different kind of systems, such as procurement optimization and
warehouse value management that improve effectiveness of business
operations continued. Thanks to its wide portfolio of solutions and
network of partners Solteq has been steadily positioned in the
current state of the market that is favorable for companies that
offer comprehensive solutions.
The trend in which the customers are looking for deeper partnership
was evident in the markets during the last quarter of 2008. The
objective is to find targets for development that enable the
improvement in services for end customers and thus strengthen the
customership. In Solteq's point of view the above-mentioned
development has been positive, because company's strength is in
projects that drill down deeply to customer's business processes.
The misty economic outlook has also an influence to the competitive
position in business branch trade. The first retrenchments from
international competitors that cut costs fall often to the smaller
markets. This empowers the local actors' possibilities to strengthen
their position in the market.
Business environment - Auto Trade
The government's bill related to car tax reform, in which the car
trade began to be prepared, was the most significant change in the
business environment of Auto Trade during the review period. The
taxation of cars is changing so that the value added tax related to
tax on motor vehicles is abandoned and tax on motor vehicles will
increase respectively. The above-mentioned change has no effect on
the retail prices of cars, but it causes need for changes in the
IT-systems of Auto Trade. The changes will have effect on different
systems and the interfaces between those systems. The modification
works will give work for IT service companies in the branch
especially during the first quarter of 2009.
During the last quarter of 2008 the economic outlook for car dealers
has still become weaker. As during 2008 approximately 140 000 first
time registrations of passenger cars were made, the sales forecasts
for 2009 vary from 90 000 to 100 000 first time registrations. If the
above-mentioned forecast is realized, it is probable that the ability
of companies in car trade to execute new large IT system renewals is
very limited.
Instead of new investments the car dealers will invest in the
development of systems that are constantly in use. The focus of IT
demand in business branch Auto Trade is concentrated on different
services and added value products that Solteq and various interest
groups of the branch are providing. Solteq implements terminal
interfaces between added value products and existing systems of auto
trade.
Business development - Trade
Business operations of the Trade unit developed according to plans
during the last quarter of 2008 and the unit achieved its setting of
financial objectives. Both the turnover and operating result were
improved compared to previous year.
Among the Solteq's customers in speciality goods the demand was
focused especially on expansions of store management systems,
consultation and training. Customers' preparations for PCI-standard
(Payment Card Industry) increased the demand for consultative
services that is foreseen to remain brisk during 2009.
Among wholesale the focus of demand was on solutions that make the
logistics chain more effective. During the last quarter of year
customers invested in procurement and warehouse optimization.
Customers are interested in cost savings that can be generated by the
means of optimization of warehouse shelf positions and forklift
routes in the warehouse.
During the review period Solteq carried out a major IT system renewal
for Tokmanni group of companies. The renewal consisted of Tokmanni
group's ERP and warehouse management system, procurement optimization
and solution related to speech picking based on voice recognition.
The heart of the logistics center is Solteq's Merx ERP- system. By
the means of this ERP Tokmanni is able to secure that there are right
products in a right time available for the customers in group's over
130 stores. This large project will provide work for Trade unit's
employees also during 2009.
In November 2008 Solteq announced cooperation with Pharmadata that is
owned by The Association of Finnish Pharmacies. The objective for
this cooperation is to renew the enterprise resource planning of
Finnish pharmacies. The new pd3-pharmacy system that is implemented
by Solteq consists of Microsoft Dynamics NAV ERP, Solteq's HUB-
integration tool and Solteq's point-of-sale system especially for the
companies in speciality goods.
Renewal project was launched for Vegetable- and fruit wholesale
company Satotukku. Along with the project Satotukku will get
real-time view to the sales and purchasing history of different
vegetable lots and Satotukku's delivery chain will be controlled by
the means of Microsoft Dynamics NAV -ERP.
In production of services and product development a significant
station mark was achieved during the review period, when Solteq's new
project management method was implemented in full scale. In addition
investments in certification of knowledge and development of own
systems were continued.
Business development - Auto Trade
The business operations of the Auto Trade unit developed according to
plans during the review period. Unit achieved its turnover and result
objectives that were set for the last quarter of 2008. Turnover form
the whole year 2008 remained same level as previous year. The demand
for services was focused on the development of customers' existing
systems.
The beginning of Auto Trade's year 2009 is branded by uncertainty.
The market situation is very difficult for new system sales. The
development of service sales are expected to be more firm, although
some retrenchments may be seen in the sector.
In challenging market situation Solteq increases its efforts in the
development of its own products, so that the product range is more
able to compete than before, when the investments begin again.
INDUSTRY AND SERVICES
Solteq's Industry and Services business segment consists of Industry
and Information Management business units. The expertise in
enterprise resource planning (ERP) and maintenance systems has been
centralized in the Industry business segment. Information Management,
that is a new business unit and that was launched in the beginning of
2008, provides harmonization projects for IT- systems and master data
maintenance services as well as data collection services. These
projects and services are provided both domestically and globally
along with international customers. The objective for segregation of
Information Management unit is to ensure that harmonization services
will be effectively available to all customers of Solteq.
Business environment - Industry
In the year-end 2008 the market environment of Solteq's Industry unit
was branded by general uncertainty. The disturbance that was
originated from financial markets in September 2008 expanded to
Finnish large and medium-sized companies during the review period. In
Solteq's clientele there are ongoing negotiations related to cutting
of several thousands of jobs. Uncertainty appeared as delays of new
ERP projects and this development is foreseen to continue during the
whole year 2009.
In spite of the deteriorated market situation the demand for
IT-solutions remained stable in energy branch of business and public
sector. Solteq estimates that there will be moderate demand in
above-mentioned branches also in 2009.
However, the demand situation in maintenance and material management
IT- systems remained good also during the last quarter of 2008. The
aim in development projects related to maintenance- and material
management systems is to achieve scale advantages e.g. it is possible
to centralize purchases of different operating locations in large
groups of companies. Solteq estimates that companies' retrenchment
operations and profitability remedial programs will encourage the
demand for material management IT-solutions still during 2009.
The business environment of OOO Solteq Russia that operates in
Russian markets turned more challenging than before, because foreign
companies have often taken timeouts related to plant investments in
Russia. While the tightening of financing terms is slowing down the
investments in production plants and thus postpones the needs for
IT-systems, the markets for maintenance IT-systems are very promising
for example in the St. Petersburg area. During 2009 Solteq will
increase its marketing efforts in the area.
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 quality of the data that is recorded to
the IT- systems. Leading by information in integrated systems is
enabled for customers by the means of master data management.
The demand for harmonization services slowed down significantly
during the last quarter of 2008. The investment decisions made by
industrial companies slowed down, which can be seen in the startups
of new projects. However, during the last days of 2008 two project
agreements for year 2009 were concluded. The increase of sales
project backlog of retail- and wholesale branch continued during the
last quarter.
Companies' needs for harmonization solutions have altered from large
system renewals to projects, in which more effectiveness and cost
savings are sought for existing systems. This trend has appeared as
increasing number of harmonization projects and decrease of medium
size.
Business development - Industry
There was improvement in the operations of Solteq's Industry unit
compared to year 2007, but the development fell short of the
objectives that were set in the beginning of the year.
The ERP delivery that was agreed with Helsinki University was the
largest new project during the review period. Helsinki University
will change its personnel and financial administration to SAP. This
large-scale renewal will be carried out mainly during 2009.
The demand for material management and maintenance IT-systems was
brisk during the review period. Solteq will deliver maintenance and
material management system for forest industry company UPM's Estonian
and Russian units. The project is significant for Solteq, because in
this project Solteq combines its knowledge in SAP, maintenance
systems and Russian markets.
Cooperation with Rautaruukki continued as Solteq launched follow-up
development projects in three different places. The aim of this
development of operations is to achieve advantage in economies of
scale in procurement by centralizing Rautaruukki's purchases in one
single system. At the same time maintenance systems are harmonized.
The last quarter of 2008 was important for Solteq from product
development's point of view. In November Solteq announced new
maintenance, material management and operative asset management
solution along with Microsoft. The software solution is based on
Microsoft Dynamics AX- technology and it is intended for companies
that want to monitor the cost effects of their fixed asset
investments during the whole life cycle. By the means of this
solution organizations will get detailed picture from efficiency and
investing needs of their fixed assets.
Business development - Information Management
During the review period the business operations of Information
Management unit slowed down like previous quarter. The project
activities lagged behind from the yearly objectives, but services
achieved its goals.
In the near future the most salient uncertainties and risks are
related to the timing of the business deals that is the basis of the
turnover. It is very difficult to estimate reliably the influence of
current economic uncertainty to customers' decision making and to the
timing of projects.
In the middle of challenging economic situation Solteq has
reorganized sales resources and transferred more personnel to sell
unit's services. A separate team that is focused on generating cost
savings from customers' existing systems has been founded in the
Information Management unit. Team is analyzing the data in the
customers' systems and calculates the cost savings that can be
achieved by the means of harmonization. The new team concluded its
first sales in the end of 2008.
TURNOVER AND RESULT
Turnover increased by 8,8% compared to the previous year and totalled
30.383 thousand euros (27.926 thousand euros).
Turnover consists of several individual customerships. At the most,
one client corresponds to a less than five percentages from the
turnover.
The operating result from the financial year totalled 1.460 thousand
euros (1.304 thousand euros), result before taxes was 1.136 thousand
euros (1.090 thousand euros) and the profit for the financial year
867 thousand euros (1.118 thousand euros).
The contractual increase in personnel costs during the financial year
couldn't yet be totally transferred to customer fees. Because of
this, the operating profit didn't increase corresponding to the
growth in turnover.
Though the profit before taxes equals the level of previous year, the
profit for the financial year is less than previous year. This is due
to the previous year's positive changes in deferred tax assets caused
by the intercompany structural changes.
BALANCE SHEET AND FINANCING
The total assets amounted to 22.033 thousand euros (22.046 thousand
euros). Liquid assets totalled 695 thousand euros (345 thousand
euros).
The company's interest-bearing liabilities were 6.316 thousand euros
(7.052 thousand euros). In consequence of company's overall loan
portfolio arrangement an amount of 3.500 thousand euros has been
transferred, in accordance with the terms of loan contract, from
short-term interest-bearing loans to long-term interest-bearing
loans.
The company's equity ratio was 43,6 % (44,1 %).
INVESTMENTS, RESEARCH AND DEVELOPMENT
Gross investments during the financial year were 920 thousand euros
(1.833 thousand euros).
The additional price 200 thousand euros, due to the acquisition of
Fulmentum Oy, is included in the gross 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, 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 under IFRS have been
capitalized in the amount of 587 thousand euros (129 thousand euros).
The costs related to development are mainly presented due to their
nature as yearly costs in profit and loss account. Capitalized costs
are connected to two product development projects. The depreciation
according to plan will be started along with the commercial
implementation of the projects.
PERSONNEL
The number of permanent employees at the end of the financial year
was 268(259). Average number of personnel during the financial year
was 266 (252). At the end of the financial year the number of
personnel divided as follows: trade 126, industry and services 111
and shared functions 31.
RELATED PARTY TRANSACTIONS
Solteq's related parties consist of members of the Board of
Directors, the managing director and the management group of the
Solteq group of companies. There haven't been significant changes in
company's related party transactions after the issue of financial
statements from year 2007.
SHARES, SHAREHOLDERS AND TREASURY SHARES
Solteq Plc's equity on 31.12.2008 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 188.600 shares. The amount of treasury
shares represented 1,55 % from total amount of shares and votes in
the end of the financial year. The equivalent value of acquired
shares was 15.667 euros.
Exchange and rate
During the financial year, the exchange of Solteq's shares in the
Helsinki Stock Exchange was 1,0 million shares (2,7 million shares)
and
1,5 million euros (4,3 million euros). Highest rate during the
financial year was 1,77 euros and lowest rate 1,16 euros. Weighted
average rate of the share was 1,44 euros and end rate 1,16 euros. The
market value of the company's shares at the end of the review period
totalled 14,1 million euros (21,1 million euros).
Ownership
At the end of financial year, Solteq had a total of 2.003
shareholders (2.117 shareholders). Solteq's 10 largest shareholders
owned 8.101 thousand shares i.e. they owned 66,7 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 28.3.2008 adopted the
financial statements for 2007 and the members of the board and the
managing director were discharged from liability for the financial
year 2007.
The annual general meeting decided in accordance with the board's
proposal a dividend of 0,06 euros per share. The balancing date of
dividend was 2.4.2008 and payment date 9.4.2008.
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 and at market price. The acquiring is to be done with the
unrestricted shareholders' equity. The authorization is valid until
the beginning of
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 and Jukka Sonninen will
continue as members of the board. Markku Pietilä was elected as new
member of the board of directors. The board elected Ali Saadetdin to
act as the chairman of the board.
Seppo Aalto, member of the board, has been prevented to participate
the work of board of directors during the autumn season. He is on a
sick leave for the present.
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 Solteq Plc has announced in stock exchange
bulletin 5.1.2009 that company has begun co-operation negotiations
with its employees.
RISKS AND UNCERTAINITIES
The key uncertainties and risks are related to the timing and pricing
of the business deals that are the basis of the turnover, changes in
the level of costs and to 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 and management group work. The
company has not organized a separate internal audit organization or
committee.
PROSPECTS
In the interim report 8.8.2007 Solteq Plc set a long-term objective
for years 2008-2010 that is to achieve an average of 10 % yearly
organic growth of turnover. Additional growth is sought by allocated
acquisitions. Company's objective for yearly operating profit is set
to level of 10 % in the above-mentioned period. The Board of
Directors will comment more detailed objectives for 2009 in its
February meeting.
PROPOSAL OF THE BOARD FOR DISTRIBUTION OF DIVIDEND
The distributable equity of the parent company Solteq Plc as at
31.12.2008 is 9.047.660,34 euros.
The Board of Directors proposes to the annual general meeting a
dividend of 0,04 euros per each outstanding share for the financial
year 2008(2007: 0,06 euros per share).
FINANCIAL INFORMATION
GROUP PROFIT AND LOSS ACCOUNT
(TEUR)
1.10.- 1.10.- 1.1.- 1.1.-
31.12.2008 31.12.2007 31.12.2008 31.12.2007
NET TURNOVER 8 653 8 544 30 383 27 926
Other operating
income 3 4 44 69
Raw materials and
services -2 320 -2 299 -7 744 -6 398
Staff expenses -4 211 -4 015 -15 583 -14 356
Depreciation -178 -176 -718 -742
Other operating
expenses -1 290 -1 512 -4 922 -5 195
OPERATING RESULT 657 546 1 460 1 304
Financial income and
expenses -83 -86 -324 -214
PROFIT BEFORE APPROPRIATION
AND TAXES 573 460 1 136 1 090
Income taxes -99 -61 -269 28
PROFIT FOR THE PERIOD
474 399 867 1 118
Earnings / share,
e(undiluted) 0,04 0,03 0,07 0,09
Earnings / share,
e(diluted) 0,04 0,03 0,07 0,09
GROUP BALANCE SHEET (TEUR) 31.12.2008 31.12.2007
ASSETS
NON-CURRENT ASSETS
Intangible assets
Intangible rights 2 417 2 069
Goodwill 8 286 8 086
Tangible assets 2 707 2 743
Investments
Other shares and similar
rights of ownership 93 117
Deferred tax
assets 268 661
Total non-current
assets 13 771 13 676
CURRENT ASSETS
Short-term debtors 7 567 8 025
Cash in hand and at banks 695 345
Total current
assets 8 262 8 370
TOTAL ASSETS 22 033 22 046
EQUITY AND LIABILITIES
CAPITAL AND RESERVES ATTRIBUTABLE TO THE SHAREHOLDERS
OF THE PARENT COMPANY
Share capital 1 009 1 002
Share issue 0 64
Company's own shares -255 0
Share premium account 75 18
Unrestricted equity
fund 7 213 7 213
Retained earnings 693 304
Profit for the
financial period 867 1 118
Total equity 9 602 9 719
LIABILITIES
Non-current liabilities 3 663 163
Current liabilities 8 768 12 164
Total liabilities 12 431 12 327
TOTAL EQUITY AND
LIABILITIES 22 033 22 046
FINANCIAL PERFORMANCE
INDICATORS (IFRS) 2008 2007 2006 2005 2004
Net turnover MEUR 30,4 27,9 23,2 21,6 21,7
Change in net turnover 8,8 % 20,6 % 7,4 % -0,7 % 4,4 %
Operating result MEUR 1,5 1,3 -0,5 1,2 0,9
% of turnover 4,8 % 4,7 % -2,1 % 5,7 % 4,2 %
Result before taxes MEUR 1,1 1,1 -0,5 1,5 1,4
% of turnover 3,7 % 3,9 % -2,1 % 6,8 % 6,3 %
Equity ratio, % 43,6 44,1 47,7 75,2 65,6
Gearing, % 58,5 % 69,0 % 15,8 % -7,9 % -34,5 %
Gross investments in
non-current assets MEUR 0,9 1,8 7,7 1,3 2,7
Return on equity, % 9,0 % 11,5 % 1,2 % 11,4 % 8,7 %
Return on investment, % 9,0 % 8,7 % -2,4 % 13,3 % 12,4 %
Personnel at end of
period 268 259 234 187 199
Personnel average
for period 266 252 240 193 202
KEY INDICATORS PER SHARE
Earnings / share, e 0,07 0,09 0,01 0,11 0,09
Earnings / share,
e(diluted) 0,07 0,09 0,01 0,11 0,09
Equity / share, e 0,80 0,81 0,81 1,00 0,99
QUARTERLY KEY INDICATORS (MEUR)
1Q/07 2Q/07 3Q/07 4Q/07
Net turnover 6,38 7,14 5,86 8,55
Operating result 0,13 0,33 0,30 0,54
Result before taxes 0,10 0,29 0,24 0,45
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
CASH FLOW STATEMENT (MEUR)
1-12/2008 1-12/2007
Cash flow from business
operations 2,94 -0,46
Cash flow from capital
expenditure -0,88 -3,47
Cash flow from financing activities
Income from issued
shares 0,00 0,08
Dividend distribution -0,73 0,00
Return of equity(paid) 0,00 -1,20
Own shares -0,26 0,00
Loan agreement -0,72 3,29
Cash flow from financing
activities -1,71 2,17
Change in cash and cash
equivalents 0,35 -1,76
TOTAL INVESTMENTS (TEUR)
1-12/2008 1-12/2007
Continuing operations,
group total 920 1 833
LIABILITIES (MEUR) 31.12.2008 31.12.2007
Company quorantee for
credit limits 1,18 1,18
Perfomance bonds 0,05 0,05
Lease contracts, machinery &
equipment 0,59 0,56
Lease liability,
premises 2,48 2,93
The Group has no liabilities from derivative instruments.
DISTRIBUTION OF HOLDINGS BY SECTOR DECEMBER 31, 2008
Number of Shares and votes
holdings % Number
Private companies 88 18,9 % 2 295 870
Financial an insurance institutions 7 0,7 % 89 918
Public-sector organizations 1 0,1 % 11 300
Households 1 896 80,2 % 9 741 480
Non-profit organizations 5 0,0 % 3 971
Foreigners 6 0,0 % 5 890
Total 2 003 100,0 % 12 148 429
Total of Nominee-registered 4 0,7 % 84 026
DISTRIBUTION BY NUMBER OS SHARES DECEMBER 31,2008
Number of Shares and votes
Number of shares holdings % Number
1 - 100 353 0,2 % 28 059
101 - 1 000 1 109 4,4 % 537 952
1 001 - 10 000 459 11,8 % 1 439 213
10 001 - 100 000 71 16,0 % 1 938 866
100 001 - 1 000 000 8 14,4 % 1 743 920
1 000 000 - 3 53,2 % 6 460 419
Total 2 003 100,0 % 12 148 429
Total of nominee-registered 4 0,7 % 84 026
MAJOR SHAREHOLDERS DECEMBER 31, 2008
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 1 316 830 10,8 %
4. TP-Yhtiöt Oy 513 380 4,2 %
5. Roininen Matti 331 300 2,7 %
6. Hakamäki Jorma 228 430 1,9 %
7. Solteq Oyj 188 600 1,6 %
8. Saadetdin Katiye 156 600 1,3 %
9. Kiiveri Jouko 118 280 1,0 %
10. Halmet Jarmo 104 100 0,9 %
10 largest shareholders total 8 101 109 66,7 %
Total of nominee-registered 84 026 0,7 %
Others 3 963 294 32,6 %
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=Unrestricted equity fund
F=Equity account
G=Retained earnings
H=Total
A B C D E F G H
EQUITY 1.1.2007 994 0 0 2 164 298 5 962 296 9 714
Granted option
rights 7 7
Result for the
period 1 118 1 118
Total gains and
losses 1 118 1 118
Subscription issue 2 64 18 84
Transfer betweeen
equity accounts 6 -2 164 8 120 -5 962 0
Return on equity
(paid) -1 204 -1 204
EQUITY 31.12.2007 1 002 64 0 18 7 213 0 1 422 9 719
EQUITY 1.1.2008 1 002 64 0 18 7 213 0 1 422 9 719
Result for the
period 867 867
Total gains and
losses 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 7 213 0 1 560 9 602
Taxes corresponding to the result have been presented as taxes
for the financial period.
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
This financial statements bulletin has been prepared in accordance
with IAS 34 -standard and the same accounting policies as in the
annual financial statements 2007.
All forecasts and estimates presented in the financial statement
bulletin 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 economic
market and competitive conditions, changes in the regulatory
environment and other government actions.
The financial statement bulletin is unaudited.
SOLTEQ'S FINANCIAL INFORMATION IN 2009
Solteq Plc's financial information bulletins in 2009 have been
scheduled as follows:
- Interim report 1-3/2009 Wednesday 22.4.2009
- Interim report 1-6/2009 Wednesday 12.8.2009
- Interim report 1-9/2009 Wednesday 21.10.2009
Solteq Plc's Annual Report from 2008 will be announced in March 2009.
Annual General Meeting has planned to be held on Friday 27th of March
2009.
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
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