2007-10-23 13:00:00 CEST
2007-10-23 13:00:00 CEST
REGULATED INFORMATION
Teleste - Quarterly report
TELESTE CORPORATION'S INTERIM REPORT 1 JANUARY TO 30 SEPTEMBER 2007
TELESTE CORPORATION STOCK EXCHANGE RELEASE 23.10.2007 AT 14:00 TELESTE CORPORATION'S INTERIM REPORT 1 JANUARY TO 30 SEPTEMBER 2007 - Net sales grew by 28.2% over the previous year amounting to EUR 94.0 million - Operating profit stood at EUR 10.1 million, an increase of 33.6% over the previous year; undiluted result per share grew by 27.8% to EUR 0.41 per share - Orders received improved by 21.1% over the previous year standing at EUR 88.8 million - Broadband Cable Networks' orders received increased by 20.9% over the previous year - Video Networks' orders received were up by 22.4% over the previous year Improved Net Sales and Profitability Year-on-year net sales increased by 28.2% standing at EUR 94.0 (73.4) million. Over the previous year operating profit grew by 33.6% standing at EUR 10.1 (7.6) million making 10.8% (10.4%) of net sales. Undiluted result per share equalled EUR 0.41 (EUR 0.32). Orders received improved by 21.1% from the previous year standing at EUR 88.8 (73.3) million. Order backlog totalled EUR 23.3 (22.7) million. Net sales in Q3 amounted to EUR 32.3 (27.9) million while operating profit equalled EUR 4.7 (3.5) million making 14.4% (12.5%) of net sales. Orders received in Q3 stood at EUR 29.4 (24.9) million. Business Areas Broadband Cable Networks Broadband Cable Networks' year-on-year net sales grew by 34.0% (28.5%) standing at EUR 82.7 (61.7) million. Operating profit stood at EUR 10.5 (7.2) million making 12.7% (11.7%) of the net sales. Increase in the business result was based on increased net sales, improved margin in frame agreements and efficient cost control. Orders received increased by 20.9% (21.7%) over the previous year to EUR 76.2 (63.0) million. Order backlog totalled EUR 20.5 (20.8) million. The Q3 net sales for the business was EUR 28.4 (23.6) million. Operating profit stood at EUR 4.6 (3.3) million making 16.1% (13.9%) of the net sales. Orders received in Q3 stood at EUR 23.8 (20.4) million. Development on the EttH system continues and its performance has reached a good level. A number of EttH 100 Mb/s deliveries are being tested by the customers. Field installations of the EttH system delivered to Hanaro Telecom are on-going. Video Networks Net sales of Video Networks amounted to EUR 11.4 (11.6) million. Operating profit was in the red standing at EUR -0.3 (0.4) million. Orders received by Video Networks increased by 22.4 % (13.3%) over the year of comparison to EUR 12.6 (10.3) million. Order backlog totalled EUR 2.8 (1.9) million. The Q3 net sales for the business was EUR 3.9 (4.2) million. Operating profit stood at EUR 0.1 (0.2) million making 1.9% (4.6%) of the net sales. Orders received in Q3 stood at EUR 5.7 (4.4) million. Significant Short-Term Risks and Uncertainty Factors for the Business Areas In reference to risks and uncertainty factors specified in the latest annual report no essential changes have taken place in the short-term risks and uncertainty factors involving Teleste Business Areas. Ownership rearrangements among our clientele may slow down the folding out of some investments in the business of Broadband Cable Networks. Strengthening of order backlog for Video Networks is dependent on timing of public sector decisions. Introduction to the market of new competing technologies is a characteristic risk factor for both of our business units. Personnel The number of people employed by the Group at the end of September was 677 (607), out of which 446 (430) were stationed in Finland. At the end of September the number of temporary labour was 69 (50). The stated number of personnel does not include temporary labour. R&D and Investments At the end of September, the number of Teleste's R&D personnel was 142 (128). The R&D expenditure for the review period totalled EUR 9.6 (5.9) million making 10.2% (8.1%) of net sales. Activated R&D expenses stood at EUR 1.7 (0.9) million. This growth in activated resources over the previous year was due to development work involving IP headend, the IP based video processing product family. Depreciation on R&D investments amounted to EUR 1.0 (0.7) million. Investments for the Group made in the period under review totalled EUR 10.5 (5.3) million of which EUR 6.1 million involved acquisition of DINH Telecom. Other investments made included EUR 1.4 million on the new SMT line and EUR 1.7 million on R&D. The remaining investments involved measuring instruments for the production, air conditioning for the production premises and IT. The effect of the final contract price of S-Link shares on the investments for the period under review amounted to EUR 0.1 million. Finance Operating cash flow for the period under review stood at EUR 5.3 (-1.3) million. Short-term receivables for the period under review grew by EUR 6.4 million, inventories increased by EUR 2.7 million and non-interest bearing short-term debt by EUR 1.3 million. As to the growth in working capital for the period EUR 2.2 million was attributed to the extended Group structure. Financing cash flow includes EUR 1.2 million involving subscriptions for Teleste 2002 options. At the end of the review period the funds stood at EUR 13.5 (9.6) million. At the end of September, interest-bearing debt for the Group stood at EUR 20.8 (14.9) million. The interest-bearing debt for the period increased by 12.8 million. The increased interest-bearing funds were used to finance investments and growth in working capital and to pay the dividend. At the end of September, in addition to liquid funds the company's unused stand-by credits amounted to EUR 12.0 (17.0) million. The Group's gearing ratio was 16.6% (14.6%) and the equity ratio was 49.8% (48.3%). Teleste hedges main exchange rate risks of forecasted currency flows for six months ahead. Shares and Shareholders In the past year the trading price of shares fluctuated between EUR 8.50 (6.46) and EUR 12.34 (12.75). At the end of September, the closing price was EUR 8.70 (8.95). According to the Finnish Central Security Depository, the number of shareholders at the end of the period was 5313 (5875) while foreign ownership accounted for 21.7% (19.3%). The value of shares traded on OMX Nordic Exchange was EUR 56.1 (98.0) million while the number thereof equalled 5.2 (10.1) million. At the end of September the number of own shares in Teleste' possession was 352,482 equalling 2.0% of the entire capital stock at the end of the period under review. In February 2007 10,180 own shares, 0.06% of the capital stock, were conveyed to the share bonus scheme of the Management Group. In April 2007 92,338 own shares, 0.53% of the capital stock, were conveyed in the context of the DINH acquisition arrangement. Decisions by the Annual General Meeting The Annual General Meeting (AGM) held on 3 April 2007 confirmed the financial statements for 2006 and discharged the Board and the CEO from liability for the financial period. The AGM confirmed the dividend of EUR 0.20 per share as proposed by the Board of Directors. The dividend was paid out on 17 April 2007. Composition of Teleste's Board remained unchanged: Mr. Tapio Hintikka was re-elected as Chairman whilst Mr. Tero Laaksonen, Mr. Pertti Raatikainen, Mr. Timo Toivila and Mr. Pekka Vennamo continued as members on the Board of Directors. Authorised Public Accountants KPMG Oy Ab continue as the auditor until the next AGM. The AGM authorised the Board to acquire the maximum of 1,290,000 of the company's own shares and to convey the maximum of 1,730,000 company's own shares. Based on authorisations of 2001 and 2002 the company is in the possession of 352,482 of its own shares. The AGM also authorised the company to issue 4,500,000 new shares. Maximum number of subscribed shares accommodated by the special rights and granted by the company equals 1,730,000. These authorisations will be valid until the AGM due to be held in 2008. Nominal value of the company share was renounced. The AGM accepted a share option plan involving key personnel. The plan authorises a subscription of 840,000 new shares. Outlook In our estimation the business area of Broadband Cable Networks will continue to develop favourably. Cable operators continue their investments made in increased network capacity and digitalisation. Sustained profitable growth will be secured by the efficient control over material expenses, active development of the service business and increasing demand. We will sustain our focus on network solutions designed to support the cable operators' business and continue the efforts in strengthening our command of fibre technology (FttH) while developing and providing value added services suited to the requirements of the cable operators. As to the EttH solution, active marketing and product development will continue. Marketing efforts involving the new IP based video processing product family (IP headend) will be initiated in the last quarter of this year. Prospect list of Video Networks related to traffic control, urban area surveillance and integration solutions of specific industries is on a sound level. We believe the order accrual and deliveries will grow. Teleste's net sales and post-tax profit for the current year will increase considerably from the previous one. In our estimation the favourable market situation in our business areas will continue even in 2008. Teleste's final accounts for the financial year 2007 will be released on 29 January 2008. 23 October 2007 Teleste Corporation Jukka Rinnevaara The Board of Directors President and CEO This interim report has been compiled in compliance with IFRS 34, as it is accepted within EU, using the recognition and valuation principles with those used in the Annual Report. The data stated in this report is unaudited. CONSOLIDATED STATEMENT OF INCOME -------------------------------------------------------------------------------- | (tEUR) | 1-9/2007 | 1-9/2006 | Change | 1-12/2006 | | | | | % | | -------------------------------------------------------------------------------- | Turnover | 94,024 | 73,350 | 28.2 % | 101,773 | -------------------------------------------------------------------------------- | | Change in inventories of | 3,395 | 6,268 | -45.8 % | 6,066 | | | finished goods | | | | | -------------------------------------------------------------------------------- | | Other operating income | 1,154 | 1,618 | -28.7 % | 2,158 | -------------------------------------------------------------------------------- | | Materials and services | -49,513 | -40,459 | 22.4 % | -54,743 | -------------------------------------------------------------------------------- | | Personnel expenses | -22,619 | -19,720 | 14.7 % | -27,100 | -------------------------------------------------------------------------------- | | Other operating expenses | -13,766 | -11,696 | 17.7 % | -16,006 | -------------------------------------------------------------------------------- | | Depreciation | -2,534 | -1,769 | 43.3 % | -2,393 | -------------------------------------------------------------------------------- | Operating profit | 10,141 | 7,593 | 33.6 % | 9,755 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | Financial income and | -696 | -306 | 127.8 % | -467 | | | expenses | | | | | -------------------------------------------------------------------------------- | Profit after financial items | 9,445 | 7,288 | 29.6 % | 9,288 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Profit before taxes | 9,445 | 7,288 | 29.6 % | 9,288 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | Taxes | -2,447 | -1,864 | 31.3 % | -2,408 | -------------------------------------------------------------------------------- | Net profit | 6,998 | 5,424 | 29.0 % | 6,879 | -------------------------------------------------------------------------------- | Attributable to: | | -------------------------------------------------------------------------------- | | Equity holders of the | 6,998 | 5,424 | 29.0 % | 6,879 | | | parent | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Earnings per share for profit of the year attributable to the equity holders | | of the parent (expressed in euro per share) | -------------------------------------------------------------------------------- | | Basic | 0.41 | 0.32 | 27.8 % | 0.41 | -------------------------------------------------------------------------------- | | Diluted | 0.39 | 0.30 | 29.4 % | 0.38 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Consolidated Statement of | 7-9/2007 | 7-9/2006 | Change | | | Income (tEUR) | | | % | | -------------------------------------------------------------------------------- | Turnover | 32,267 | 27,870 | 15.8 % | | -------------------------------------------------------------------------------- | | Change in inventories of | 1,546 | 3,910 | -60.5 % | | | | finished goods | | | | | -------------------------------------------------------------------------------- | | Other operating income | 288 | 376 | -23.4 % | | -------------------------------------------------------------------------------- | | Materials and services | -16,859 | -17,524 | -3.8 % | | -------------------------------------------------------------------------------- | | Personnel expenses | -7,257 | -6,461 | 12.3 % | | -------------------------------------------------------------------------------- | | Other operating expenses | -4,285 | -4,069 | 5.3 % | | -------------------------------------------------------------------------------- | | Depreciation | -1,048 | -610 | 71.6 % | | -------------------------------------------------------------------------------- | Operating profit | 4,651 | 3,491 | 33.2 % | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | Financial income and | -361 | -156 | 130.7 % | | | | expenses | | | | | -------------------------------------------------------------------------------- | Profit after financial items | 4,291 | 3,335 | 28.7 % | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Profit before taxes | 4,291 | 3,335 | 28.7 % | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | Taxes | -1,118 | -908 | 23.2 % | | -------------------------------------------------------------------------------- | Net profit | 3,173 | 2,427 | 30.7 % | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Earnings per share for profit of the year attributable to the equity | | holders of the parent (expressed in euro per share) | -------------------------------------------------------------------------------- | | Basic | 0.19 | 0.14 | 29.4 % | | -------------------------------------------------------------------------------- | | Diluted | 0.18 | 0.13 | 31.1 % | | -------------------------------------------------------------------------------- BALANCE SHEET -------------------------------------------------------------------------------- | (tEUR) | 30/09/200 | 30/09/200 | Change | 31/12/ | | | 7 | 6 | % | 2006 | -------------------------------------------------------------------------------- | Non-current assets | -------------------------------------------------------------------------------- | | Property,plant,equipment | 7,536 | 5,691 | 32.4 % | 5,578 | -------------------------------------------------------------------------------- | | Goodwill | 12,871 | 12,327 | 4.4 % | 12,127 | -------------------------------------------------------------------------------- | | Intangible assets | 6,095 | 3,272 | 86.3 % | 3,614 | -------------------------------------------------------------------------------- | | Investments | 1,116 | 1,116 | 0.0 % | 1,116 | -------------------------------------------------------------------------------- | | | 27,618 | 22,406 | 23.3 % | 22,435 | -------------------------------------------------------------------------------- | Current assets | -------------------------------------------------------------------------------- | | Inventories | 19,351 | 15,807 | 22.4 % | 16,604 | -------------------------------------------------------------------------------- | | Other current assets | 28,786 | 26,380 | 9.1 % | 22,409 | -------------------------------------------------------------------------------- | | Short-term investments | 2,006 | 788 | 154.6 % | 0 | -------------------------------------------------------------------------------- | | Liquid funds | 11,480 | 8,832 | 30.0 % | 6,789 | -------------------------------------------------------------------------------- | | | 61,623 | 51,807 | 18.9 % | 45,802 | -------------------------------------------------------------------------------- | Total assets | 89,241 | 74,213 | 20.2 % | 68,236 | -------------------------------------------------------------------------------- | Shareholder's equity and liabilities | -------------------------------------------------------------------------------- | Share capital | 6,967 | 6,954 | 0.2 % | 6,955 | -------------------------------------------------------------------------------- | Other equity | 37,163 | 28,855 | 28.8 % | 30,706 | -------------------------------------------------------------------------------- | | 44,130 | 35,809 | 23.2 % | 37,661 | -------------------------------------------------------------------------------- | Non-current liabilities | -------------------------------------------------------------------------------- | Provisions | 425 | 515 | -17.5 % | 425 | -------------------------------------------------------------------------------- | Non interest bearing | 939 | 0 | n/a | 368 | | liabilities | | | | | -------------------------------------------------------------------------------- | Interest bearing liabilities | 2,110 | 1,599 | 32.0 % | 742 | -------------------------------------------------------------------------------- | | 3,474 | 2,114 | 64.3 % | 1,535 | -------------------------------------------------------------------------------- | Short-term liabilities | -------------------------------------------------------------------------------- | Trade payables and other s-t | 22,258 | 21,960 | 1.4 % | 20,920 | | liabilities | | | | | -------------------------------------------------------------------------------- | Provisions | 658 | 1,071 | -38.6 % | 850 | -------------------------------------------------------------------------------- | S-t interest bearing | 18,721 | 13,259 | 41.2 % | 7,270 | | liabilities | | | | | -------------------------------------------------------------------------------- | | 41,637 | 36,290 | 14.7 % | 29,040 | -------------------------------------------------------------------------------- | Total shareholder's equity and | 89,241 | 74,213 | 20.2 % | 68,236 | | liabilities | | | | | -------------------------------------------------------------------------------- CASH-FLOW -------------------------------------------------------------------------------- | (tEUR) | 1-9/2007 | 1-9/2006 | Change | 1-12/2006 | | | | | % | | -------------------------------------------------------------------------------- | Cash-flow from operation | 5,284 | -1,320 | n/a | 2,675 | -------------------------------------------------------------------------------- | | Cash in | 91,204 | 67,783 | 34.6 % | 103,931 | -------------------------------------------------------------------------------- | | Cash out | -85,920 | -69,103 | 24.3 % | -101,256 | -------------------------------------------------------------------------------- | Cash-flow from investments | -6,282 | -4,758 | 32.0 % | -5,136 | -------------------------------------------------------------------------------- | | Cash in | 377 | 321 | 17.4 % | 376 | -------------------------------------------------------------------------------- | | Cash out | -6,659 | -5,079 | 31.1 % | -5,512 | -------------------------------------------------------------------------------- | Cash-flow from finance | 7,704 | 7,224 | 6.6 % | 731 | -------------------------------------------------------------------------------- | | Cash in | 12,222 | 10,240 | 19.4 % | 4,161 | -------------------------------------------------------------------------------- | | Cash out | -1,106 | -319 | 247.1 % | -733 | -------------------------------------------------------------------------------- | | Paid dividend | -3,412 | -2,697 | 26.5 % | -2,697 | -------------------------------------------------------------------------------- | Other items | -9 | -50 | n/a | -5 | -------------------------------------------------------------------------------- | | Effect of currency rates | -9 | -50 | n/a | -5 | -------------------------------------------------------------------------------- | Change in liquid funds | 6,697 | 1,096 | n/a | -1,735 | -------------------------------------------------------------------------------- KEY FIGURES -------------------------------------------------------------------------------- | | 1-9/2007 | 1-9/2006 | Change | 1-12/2006 | | | | | % | | -------------------------------------------------------------------------------- | | Earnings per share, EUR | 0.41 | 0.32 | 27.8 % | 0.41 | -------------------------------------------------------------------------------- | | Earnings per share fully | 0.39 | 0.30 | 29.4 % | 0.38 | | | diluted, EUR | | | | | -------------------------------------------------------------------------------- | | Shareholders' equity per | 2.55 | 2.12 | 20.4 % | 2.22 | | | share, EUR | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | Return on equity | 22.8 % | 21.2 % | 7.5 % | 19.7 % | -------------------------------------------------------------------------------- | | Return on capital | 24.7 % | 23.1 % | 6.7 % | 24.3 % | | | employed | | | | | -------------------------------------------------------------------------------- | | Equity ratio | 49.8 % | 48.3 % | 3.3 % | 55.3 % | -------------------------------------------------------------------------------- | | Gearing | 16.6 % | 14.6 % | 13.8 % | 3.2 % | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | Investments, tEUR | 10,475 | 5,340 | 96.2 % | 6,160 | -------------------------------------------------------------------------------- | | Investments % of net | 11.1 % | 7.3 % | 53.0 % | 6.1 % | | | sales | | | | | -------------------------------------------------------------------------------- | | Order backlog, tEUR | 23,305 | 22,662 | 2.8 % | 28,120 | -------------------------------------------------------------------------------- | | Personnel, average | 683 | 604 | 13.0 % | 608 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | Number of shares | 17,437 | 17,355 | 0.5 % | 17,363 | | | (thousands) including own | | | | | | | shares | | | | | -------------------------------------------------------------------------------- | | Highest share price, EUR | 12.34 | 12.75 | -3.2 % | 12.75 | -------------------------------------------------------------------------------- | | Lowest share price, EUR | 8.50 | 6.46 | 31.6 % | 6.46 | -------------------------------------------------------------------------------- | | Average share price, EUR | 10.85 | 9.79 | 10.8 % | 9.83 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | Turnover, in million | 5.2 | 10.1 | -48.3 % | 14.2 | | | shares | | | | | -------------------------------------------------------------------------------- | | Turnover, in MEUR | 56.1 | 98.0 | -42.8 % | 138.9 | -------------------------------------------------------------------------------- | Contingent liabilities and pledged assets (tEUR) | -------------------------------------------------------------------------------- | For own debt | -------------------------------------------------------------------------------- | | Guarantees | 404 | 794 | -49.1 % | 819 | -------------------------------------------------------------------------------- | | Other securities | 568 | 475 | 19.6 % | 731 | -------------------------------------------------------------------------------- | Leasing and rent liabilities | 2,167 | 2,866 | -24.4 % | 2,865 | -------------------------------------------------------------------------------- | | | 3,139 | 4,135 | -24.1 % | 4,415 | -------------------------------------------------------------------------------- | Derivative instruments (tEUR) | -------------------------------------------------------------------------------- | | Value of underlying | 11,717 | 11,471 | 2.1 % | 9,980 | | | forward contracts | | | | | -------------------------------------------------------------------------------- | | Market value of forward | -307 | -41 | 648.8 % | 144 | | | contracts | | | | | -------------------------------------------------------------------------------- | Taxes are computed on the basis of the tax on the profit for the period. | -------------------------------------------------------------------------------- | Primary segments information | 1-9/2007 | 1-9/2006 | Change | 1-12/2006 | | (tEUR) | | | % | | -------------------------------------------------------------------------------- | Broadband Cable Networks | -------------------------------------------------------------------------------- | | Order intake | 76,200 | 63,044 | 20.9 % | 92,821 | -------------------------------------------------------------------------------- | | Net sales | 82,674 | 61,707 | 34.0 % | 85,551 | -------------------------------------------------------------------------------- | | EBIT | 10,466 | 7,206 | 45.2 % | 9,055 | -------------------------------------------------------------------------------- | | EBIT% | 12.7 % | 11.7 % | 8.4 % | 10.6 % | -------------------------------------------------------------------------------- | Video Networks | -------------------------------------------------------------------------------- | | Order intake | 12,570 | 10,268 | 22.4 % | 14,380 | -------------------------------------------------------------------------------- | | Net sales | 11,350 | 11,643 | -2.5 % | 16,222 | -------------------------------------------------------------------------------- | | EBIT | -325 | 387 | n/a | 700 | -------------------------------------------------------------------------------- | | EBIT% | -2.9 % | 3.3 % | n/a | 4.3 % | -------------------------------------------------------------------------------- | Total | -------------------------------------------------------------------------------- | | Order intake | 88,770 | 73,312 | 21.1 % | 107,201 | -------------------------------------------------------------------------------- | | Net sales | 94,024 | 73,350 | 28.2 % | 101,773 | -------------------------------------------------------------------------------- | | EBIT | 10,141 | 7,593 | 33.6 % | 9,755 | -------------------------------------------------------------------------------- | | EBIT% | 10.8 % | 10.4 % | 4.2 % | 9.6 % | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Information per | 7-9/07 | 4-6/07 | 1-3/07 | 10-12/0 | 7-9/06 | 10/2006 | | quarter (tEUR) | | | | 6 | | - | | | | | | | | 9/2007 | -------------------------------------------------------------------------------- | Broadband Cable Networks | -------------------------------------------------------------------------------- | | Order | 23,798 | 19,659 | 32,743 | 29,777 | 20,441 | 105,977 | | | intake | | | | | | | -------------------------------------------------------------------------------- | | Net sales | 28,387 | 26,279 | 28,008 | 23,844 | 23,627 | 106,518 | -------------------------------------------------------------------------------- | | EBIT | 4,576 | 2,585 | 3,305 | 1,849 | 3,294 | 12,315 | -------------------------------------------------------------------------------- | | EBIT % | 16.1 % | 9.8 % | 11.8 % | 7.8 % | 13.9 % | 11.6 % | -------------------------------------------------------------------------------- | Video Networks | -------------------------------------------------------------------------------- | | Order | 5,650 | 3,300 | 3,620 | 4,162 | 4,428 | 16,732 | | | intake | | | | | | | -------------------------------------------------------------------------------- | | Net sales | 3,880 | 4,063 | 3,407 | 4,579 | 4,243 | 15,929 | -------------------------------------------------------------------------------- | | EBIT | 75 | 108 | -508 | 313 | 197 | -12 | -------------------------------------------------------------------------------- | | EBIT % | 1.9 % | 2.7 % | -14.9 % | 6.8 % | 4.6 % | -0.1 % | -------------------------------------------------------------------------------- | Total | -------------------------------------------------------------------------------- | | Order | 29,448 | 22,959 | 36,363 | 33,939 | 24,869 | 122,709 | | | intake | | | | | | | -------------------------------------------------------------------------------- | | Net sales | 32,267 | 30,342 | 31,415 | 28,423 | 27,870 | 122,447 | -------------------------------------------------------------------------------- | | EBIT | 4,651 | 2,693 | 2,797 | 2,162 | 3,491 | 12,303 | -------------------------------------------------------------------------------- | | EBIT % | 14.4 % | 8.9 % | 8.9 % | 7.6 % | 12.5 % | 10.0 % | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Attributable to | Share | Share | Trans- | Retai- | Inves | Total | | equity holders of | capi | Pre | lation | ned | ted | | | the parent (tEUR) | tal | mium | diffe- | Ear-ni | nonres- | | | | | | rences | ngs | tricted | | | | | | | | equity | | | | | | | | fund | | -------------------------------------------------------------------------------- | Shareholder's equity | 6,955 | 1,417 | 65 | 29,224 | 0 | 37,661 | | 1.1.2007 | | | | | | | -------------------------------------------------------------------------------- | | Translation | | | -9 | | | -9 | | | differences | | | | | | | -------------------------------------------------------------------------------- | | Profit of the | | | | 6,998 | | 6,998 | | | period | | | | | | | -------------------------------------------------------------------------------- | | Equity-settled | 12 | 87 | | -3,021 | 2,402 | -520 | | | share-based | | | | | | | | | payments | | | | | | | -------------------------------------------------------------------------------- | Shareholder's equity | 6,967 | 1,504 | 56 | 33,201 | 2,402 | 44,130 | | 30.9.2007 | | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Shareholder's equity | 6,935 | 1,276 | 70 | 24,025 | 0 | 32,306 | | 1.1.2006 | | | | | | | -------------------------------------------------------------------------------- | | Translation | | | -50 | | | -50 | | | differences | | | | | | | -------------------------------------------------------------------------------- | | Profit of the | | | | 5,424 | | 5,424 | | | period | | | | | | | -------------------------------------------------------------------------------- | | Equity-settled | 19 | 126 | | -2,016 | | -1,871 | | | share-based | | | | | | | | | payments | | | | | | | -------------------------------------------------------------------------------- | Shareholder's equity | 6,954 | 1,402 | 20 | 27,433 | 0 | 35,809 | | 30.9.2006 | | | | | | | -------------------------------------------------------------------------------- CALCULATION OF KEY FIGURES -------------------------------------------------------------------------------- | Return on equity: | Profit/loss for the financial period | | | ------------------------------ * 100 | | | Shareholders' equity (average) | -------------------------------------------------------------------------------- | Return on capital employed: | Profit/loss for the period after financial | | | items + financing charges | | | ------------------------------ * 100 | | | Total assets - non-interest-bearing | | | liabilities (average) | -------------------------------------------------------------------------------- | Equity ratio: | Shareholders' equity | | | ----------------------------- * 100 | | | Total assets - advances received | -------------------------------------------------------------------------------- | Gearing: | Interest bearing liabilities - cash in hand | | | and in bank - interest bearing assets | | | ----------------------------- * 100 | | | Shareholders' equity | -------------------------------------------------------------------------------- | Earnings per share: | Profit for the period attributable to | | | equityholder of the parent | | | ---------------------------------------------- | | | Weighted average number of ordinary shares | | | outstanding during the period | -------------------------------------------------------------------------------- | Earnings per share, | Profit for the period attributable to equity | | diluted: | holder of the parent (diluted) | | | ---------------------------------------------- | | | - | | | Average number of shares - own shares + number | | | of options at the period-end | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Sector Dispersion | Shares | % | -------------------------------------------------------------------------------- | Companies | 1 575 521 | 9.01% | -------------------------------------------------------------------------------- | Financial institutions | 5 411 688 | 30.95% | -------------------------------------------------------------------------------- | Public institutions | 2 374 738 | 13.58% | -------------------------------------------------------------------------------- | Nonprofit organisations | 1 046 911 | 5.99% | -------------------------------------------------------------------------------- | Private individuals | 3 276 977 | 18.74% | -------------------------------------------------------------------------------- | Foreign and nominee-registered | 3 797 431 | 21.72% | -------------------------------------------------------------------------------- | Total | 17 483 266 | 100.00% | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Major Shareholders | Shares | % | -------------------------------------------------------------------------------- | 1. | Sampo Life Insurance Company Ltd | 1 624 200 | 9.29% | -------------------------------------------------------------------------------- | 2. | Ilmarinen Mutual Pension Insurance | 976 538 | 5.59% | | | Company | | | -------------------------------------------------------------------------------- | 3. | Kaleva Mutual Insurance Company | 798 541 | 4.57% | -------------------------------------------------------------------------------- | 4. | FIM Fenno Mutual Fund | 542 639 | 3.10% | -------------------------------------------------------------------------------- | 5. | Aktia Capital Mutual Fund | 521 450 | 2.98% | -------------------------------------------------------------------------------- | 6. | State Pension Fund | 500 000 | 2.86% | -------------------------------------------------------------------------------- | 7. | Op-Suomi Pienyhtiöt | 478 289 | 2.74% | -------------------------------------------------------------------------------- | 8. | Varma Mutual Pension Insurance | 473 150 | 2.71% | | | Company | | | -------------------------------------------------------------------------------- | 9. | Fondita Nordic Small Cap Placfond | 360 000 | 2.06% | -------------------------------------------------------------------------------- | 10. | Teleste Corporation | 352 482 | 2.02% | -------------------------------------------------------------------------------- ADDITIONAL INFORMATION: Mr. Jukka Rinnevaara President and CEO, tel +358 2 2605 866 or +358 400 747 488 DISTRIBUTION: OMX Nordic Exchange Helsinki Media www.teleste.com
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