2010-10-19 08:00:00 CEST

2010-10-19 08:00:04 CEST


REGULATED INFORMATION

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English Finnish
Componenta - Interim report (Q1 and Q3)

Componenta interim report 1 January - 30 September 2010


Componenta Corporation Stock Exchange Release 19.10.2010 at 9.00 

Result clearly improved, demand outlook for the fourth quarter remains good     

Consolidated net sales in the review period were MEUR 321 (MEUR 223).           
Operating profit was MEUR 7.7 (MEUR -13.7).                                     
Result after financial items was MEUR -9.9 (MEUR -30.7). Result improved by MEUR
20.8. Result after financial items in the review period was weakened by         
increases in raw material prices and exchange rate losses, by MEUR 8.0 in total.
Basic earnings per share was EUR -0.42 (EUR -2.11).                             
Order book rose 75% and was MEUR 86 (MEUR 49).                                  
Net cash flow from operating activities was MEUR 7.0 (MEUR 6.1). Change in net  
working capital was positive despite the increased sales volumes.               

Componenta's Q3/2010 in brief                                                   

Net sales in July - September were EUR 112.3 million, which was 73% higher than 
in the previous year (EUR 64.8 million). During the third quarter capacity      
utilization rate was 55% (37%).                                                 

The third quarter operating profit increased and was EUR 3.4 million,           
corresponding to 3.0% of the net sales (EUR -3.2 million; -5.0%). The third     
quarter operating profit improved from the previous year mainly due to          
significantly higher volumes and adaptation measures implemented earlier.       

The third quarter result after financial items improved from the previous year  
and was EUR -2.1 (-9.7) million. The result after financial items improved due  
to the decrease in raw material prices and exchange rate gains, by EUR 0.4      
million in total.                                                               

Profit attributable to shareholders in the third quarter was EUR -1.5 (-7.4)    
million and basic earnings per share was EUR -0.09 (-0.68).                     

Net cash flow from operating activities in July - September was EUR -8.6 (-4.4) 
million.                                                                    

Interim report January - September 2010                                         

Net sales and order book                                                        

The Group's net sales in January - September were EUR 320.9 (223.5) million. Net
sales increased 44% and value of production 58%. The Group's capacity           
utilization rate in the review period was 52% (37%). The order book at the end  
of September rose 75% compared to the same time in the previous year and was EUR
85.8 (49.0) million. The order book comprises confirmed orders for the coming   
two months.                                                                     

Net sales of the Turkey operations rose 80% from the previous year to EUR 145.2 
(80.6) million.  The order book at the end of the review period was EUR 42.5    
(22.2) million. Good volume improvement especially in the construction and      
mining machinery and automotive industries increased the order book of the      
Turkey operations.                                                              

Net sales of the Finland operations rose 14% from the previous year to EUR 73.0 
(64.0) million. The order book at the end of the review period was EUR 16.7     
(9.9) million. The order book of the Finland operations strengthened mostly due 
to increased amount of orders from the heavy truck and machine building         
industries.                                                                     

Net sales of the Holland operations rose 14% from the previous year to EUR 62.9 
(55.1) million. The order book at the end of the review period was EUR 14.7     
(10.6) million. The order book of the Holland operations accumulates mainly from
the construction and mining machinery, agricultural machinery, heavy truck and  
machine building industries.                                                    

Net sales of the Sweden operations rose 102% from the previous year and were EUR
57.8 (28.6) million. The order book at the end of the review period was EUR 18.7
(9.3) million. The order book of the Sweden operations improved especially due  
to increased amount of orders from the heavy truck and machine building         
industries.
Componenta's net sales by customer industry were as follows: heavy trucks 25%   
(19%), construction and  mining 21% (15%), machine building 20% (30%),          
automotive 20% (19%), agriculture 12% (13%), wind power 2% (3%), and others 1%  
(1%).                                                                           

Result                                                                          

The Group's EBITDA (earnings before interest, taxes, depreciation and           
amortization) in the review period was EUR 19.6 (-4.7) million. The Group's     
EBITDA improved clearly from the previous year mainly due to higher production  
volumes and the cost adaptation measures implemented earlier. EBITDA in the     
review period was negatively affected by the rapid increase in raw material     
prices and exchange rate losses totalling approximately EUR 7.3 million. Other  
operating income includes exchange rate differences on sales and purchases. The 
result does not include one-time items.                                         

Quarterly analysis of changes in income statement:                              

--------------------------------------------------------------------------------
| MEUR             | Q1/ | Q1/ | Dif | Q2/1 | Q2/0 | Diff | Q3/1 | Q3/0 | Diff |
|                  | 10  | 09  | f % |  0   |  9   |  %   |  0   |  9   |  %   |
--------------------------------------------------------------------------------
| Net sales        | 91. | 88. |  4% | 117. | 70.6 |  66% | 112. | 64.8 |  73% |
|                  |   2 |   1 |     |    3 |      |      |    3 |      |      |
--------------------------------------------------------------------------------
| Value of         | 94. | 75. | 25% | 119. | 66.1 |  80% | 113. | 65.3 |  73% |
| production       |   4 |   3 |     |    0 |      |      |    0 |      |      |
--------------------------------------------------------------------------------
| Materials        | -34 | -24 | 43% | -45. | -20. | 121% | -43. | -23. |  87% |
|                  |  .3 |  .1 |     |    5 |    6 |      |    4 |    3 |      |
--------------------------------------------------------------------------------
| Direct wages and | -24 | -25 | -3% | -29. | -21. |  37% | -27. | -18. |  48% |
| external         |  .2 |  .0 |     |    3 |    4 |      |    6 |    7 |      |
| services         |     |     |     |      |      |      |      |      |      |
--------------------------------------------------------------------------------
| Other variable   | -32 | -29 | 10% | -35. | -25. |  40% | -34. | -23. |  47% |
| and fixed costs  |  .3 |  .3 |     |    6 |    5 |      |    5 |    5 |      |
--------------------------------------------------------------------------------
| Costs total      | -90 | -78 | 16% | -110 | -67. |  64% | -105 | -65. |  61% |
|                  |  .8 |  .3 |     |   .4 |    5 |      |   .6 |    5 |      |
--------------------------------------------------------------------------------
| EBITDA           | 3.6 | -3. |     |  8.6 | -1.4 |      |  7.4 | -0.2 |      |
|                  |     |   0 |     |      |      |      |      |      |      |
--------------------------------------------------------------------------------

The Group's operating profit in the review period was EUR 7.7 (-13.7) million.  

The Group's net financial costs in the review period were EUR -17.6 (-16.9)     
million. Net financial costs rose from the previous year due to higher interest 
costs and exchange rate losses. The Group's result after financial items in the 
review period was EUR -9.9 (-30.7) million.                                     

Income taxes calculated from the result for the review period were EUR 2.9 (7.3)
million. The Group's net result for the review period was EUR -7.0 (-23.3)      
million.                                                                        

The Group's basic earnings per share in the review period was EUR -0.42 (-2.11).
The return on investment was 3.9% (-4.9%) and return on equity -12.7% (-49.8%). 

Issues of capital loan 2010 and bond 2010                                       

Componenta Corporation issued a capital loan and bond totalling EUR 50.3 million
in September 2010. The company intends to use the assets obtained with the      
capital loan and bond for strengthening the company's balance sheet and         
financial position as well as for general refinancing purposes.                 

The Board of Directors of Componenta Corporation accepted subscriptions of the  
subordinated capital loan 2010 with a total nominal value of EUR 23.4 million.  
The loan was offered to a limited group of selected investors. The holders of   
the company's capital loan 2006 and convertible capital loan 2006 had the right 
to use the assets pertaining to the principal of the capital loans receivable   
from the company to pay the subscription price of the loan units of the         
subordinated capital loan 2010 in accordance with the terms of the loan. The    
total nominal value of EUR 11.1 million of capital loan and convertible capital 
loan was used to pay the subscription of capital loan 2010. After the payment of
subscriptions, the remaining nominal amount of the company's convertible capital
loan 2006 is EUR 2.3 million and of the capital loan 2006 EUR 2.9 million.      

The Board of Directors of Componenta Corporation accepted subscriptions of the  
bond 2010 with a total nominal value of EUR 26.9 million. The bond was offered  
for subscription for a limited group of selected investors.                     

The Board of Directors of Componenta Corporation will decide on the application 
for public listing of both the loan units of the capital loan and the bond on   
NASDAQ OMX Helsinki Ltd by the end of the year 2010.                            

Financing and cash flow                                                         

At the end of September the Group had outstanding capital loans and convertible 
capital loan, as defined in IFRS, with a combined value of EUR 40.4 million. In 
March the Group repaid the final instalment of EUR 7.4 million of the principal 
of the convertible capital loan issued in 2005, in accordance with the terms of 
the loan. Componenta issued in September a subordinated capital loan 2010 with a
maturity of five years which was subscribed with a total nominal value of EUR   
23.4 million. The holders of company's capital loan 2006 had the right to use   
the assets pertaining to the principal of the capital loan receivable from the  
company to pay the subscription price of the loan units of the subordinated     
capital loan 2010. At the end of the review period, the outstanding unconverted 
capital loan issued in 2006 entitled their holders to subscribe 259,000 shares. 

During the review period long-term bilateral bank loans totalling EUR 33.3      
million were drawn, to refinance short-term bank loans that matured in the      
period.                                                                         

Componenta's liquidity situation improved significantly in September due to the 
issue of the capital loan 2010 and bond 2010. At the end of September, cash in  
bank and hand was EUR 17.7 million. Unused, committed credit facilities at the  
end of September were EUR 49.5 million. In addition, the Group has a EUR 150    
million commercial paper programme, from which the company had an outstanding   
debt of EUR 7.0 million at the end of the review period.                        

The Group's interest-bearing net debt, excluding the outstanding capital loans  
of EUR 40.4 million, stood at EUR 205.9 (213.3) million. The company's net debt 
as a proportion of shareholders' equity, including the capital loans in the     
shareholders' equity, was 179.4% (199.5%).                                      

Componenta's net cash flow from operations during the review period was EUR 7.0 
(6.1) million, and of this the change in net working capital was EUR 1.2 (24.3) 
million. Componenta is making more efficient use of capital with a programme to 
sell its trade receivables. Under this arrangement, some of the trade           
receivables are sold without any right of recourse. By the end of September the 
company had sold trade receivables totalling EUR 57.7 (24.7) million. Mainly    
because of the selling of trade receivables, only moderate changes in the net   
working capital are expected.                                                   

At the end of the review period the Group's equity ratio was 16.9% (17.6%). The 
Group's shareholders' equity on 30 September 2010, including the capital loans  
in shareholders' equity, as a proportion of the balance sheet total was 26.0%   
(25.9%).                                                                      
Investments                                                                  
Investments in production facilities in the review period were EUR 5.9 (10.9)   
million, of which finance lease investments accounted for EUR 0.0 (3.4) million.
The cash flow from investing activities was EUR -8.0 (-9.8) million, which      
includes the cash flow from the Group's investments in tangible and intangible  
assets, the cash flow from shares sold and purchased, and from tangible assets  
sold.                                                                           

Componenta has clearly limited the amount of investments in production          
facilities due to current low utilization rate of capacity. Investments in      
production facilities in 2010 are expected to halve from the previous year.     

Performance of operations                                                       

Componenta's reporting structure was changed on 1 February 2010 when the Group  
organized its divisions into country-based operations. The figures for the first
three quarters of the year 2010 have been reported in accordance with the new   
structure, and all figures for comparison for country-based operations for 2009 
have been adjusted to bring them in line with this reporting structure.         

Turkey operations                                                               

The operations in Turkey comprise the iron foundry and machine shop in Orhangazi
and the aluminium foundry and production unit for aluminium wheels in Manisa.   

Net sales in the review period rose 80% and were EUR 145.2 (80.6) million, and  
the operating profit was EUR 10.9 million, corresponding to 7.5% of net sales   
(EUR 1.1 million, 1.4%). The good improvement in volumes especially in the      
construction and mining machinery and automotive industries improved the        
operating profit in the review period. However, the operating profit of the     
review period was hurt by the rapid increase in raw material prices (EUR 3.0    
million) and exchange rate losses (EUR 0.9 million).                            

The third quarter net sales were EUR 51.5 (27.4) million and operating profit   
EUR 4.5 million, corresponding to 8.8% of the net sales (EUR 1.1 million, 4.2%).
The third quarter operating profit was however improved by slight decrease in   
raw material prices and exchange rate gains totalling EUR 0.3 million.          

The order book of the Turkey operations at the end of September rose 92% from   
the previous year and was EUR 42.5 (22.2) million.                              

Finland operations                                                              

The operations in Finland consist of the iron foundries in Iisalmi, Karkkila,   
Pietarsaari and Pori and the machine shops in Lempäälä and Pietarsaari. The     
operations also include the production unit for pistons in Pietarsaari.         

Net sales of the Finland operations rose 14% from the previous year to EUR 73.0 
(64.0) million. Operating profit was EUR -0.8 million, corresponding to -1.2% of
the net sales (EUR -2.2 million, -3.4%). Operating profit in the review period  
improved due to the cost adaptation measures implemented in the second half of  
the previous year and increased amount of orders from the heavy truck industry. 
Operating profit of the review period was however hurt by the rapid increase in 
raw material prices of EUR 1.8 million.                                         

The third quarter net sales were EUR 25.1 (15.4) million and operating profit   
was EUR -0.9 million, corresponding to -3.7% of the net sales (EUR -1.5 million,
-9.4%). Changes in raw material prices did not have any essential impact on the 
third quarter operating profit.                                                 

The order book of the Finland operations at the end of September rose 69% from  
the previous year and was EUR 16.7 (9.9) million.                               

Holland operations                                                              

The operations in the Netherlands comprise the iron foundries in Heerlen and    
Weert, the machine shop operations in Weert and the pattern shop in Tegelen.    

Net sales for the Holland operations in the review period rose 14% and were EUR 
62.9 (55.1) million, and the operating profit was EUR -1.0 million,             
corresponding to -1.6% of net sales (EUR -8.8 million, -15.9%). The improvement 
in the operating profit for the review period was due to the cost adaptation    
measures implemented earlier and increased production volumes. However, the     
operating profit in the review period was affected by MEUR -1.5 due to the rapid
increase in raw material prices.                                                

The third quarter net sales were EUR 20.8 (15.4) million and operating profit   
was EUR -1.0 million, corresponding to -5.0% of the net sales (EUR -1.9 million,
-12.6%). Changes in raw material prices did not have any essential impact on the
third quarter operating profit.                                                 

The order book of the Holland operations at the end of September rose 39% from  
the previous year and was EUR 14.7 (10.6) million.                              

Sweden operations                                                               

The operations in Sweden comprise the Främmestad machine shop and the Wirsbo    
forge.                                                                          

Net sales for operations in Sweden in the review period rose 102% and totalled  
EUR 57.8 (28.6) million, and the operating profit was EUR -0.8 million,         
corresponding to -1.3% of net sales (EUR -6.9 million, -24.2%). The operating   
loss for the operations in Sweden in the review period decreased from previous  
year due to the cost reductions implemented earlier and markedly higher         
production volumes especially in the heavy trucks industry. The operating profit
of the review period was burdened by the exceptional peaks in energy prices that
took place during the first quarter.                                            

The third quarter net sales were EUR 20.6 (8.7) million and operating profit EUR
0.6 million, corresponding to 3.1% of the net sales (EUR -2.1 million, -23.9%). 

The order book of the Sweden operations at the end of September rose 100% from  
the previous year and was EUR 18.7 (9.3) million.                               

Other business                          

Other business comprises the sales and logistics company Componenta UK Ltd in   
the UK, service and real estate companies in Finland, the Group's administrative
functions and associated company Kumsan A.S. in Turkey. Other business recorded 
an operating profit of EUR -1.0 (2.5) million in the review period.             

Shares and share capital                                                        

The shares of Componenta Corporation are quoted on the NASDAQ OMX Exchange in   
Helsinki. At the end of the review period the company had a total of 17,457,798 
shares. The company's share capital at the end of the review period stood at EUR
21.9 (21.9) million. The quoted price on 30 September 2010 stood at EUR 5.89    
(4.70). The average price during the review period was EUR 5.15, the lowest     
quoted price was EUR 4.02 and the highest EUR 6.34. At the end of the review    
period the share capital had a market capitalization of EUR 102.8 (51.4)        
million, and the volume of shares traded during the period was equivalent to    
44.8% (23.9%) of the share stock.                                               

Personnel                                                                       

The Group had on average 4,065 (3,824) employees during the review period,      
including 270 (123) leased employees. The number of Group personnel at the end  
of the review period was 4,363 (3,734), which includes 370 (96) leased          
employees. At the end of the third quarter 51% (46%) of the personnel were in   
Turkey, 25% (28%) in Finland, 16% (17%) in the Netherlands and 8% (9%) in       
Sweden.                                                                         

Risks and business uncertainties                                                

The most significant risks for Componenta are risks related to the business     
environment (competition and price risk, commodity and environmental risks),    
operational risks (customer and supplier risks, productivity, production and    
process risks, labour market disruptions, contract and product liability risks, 
personnel risks, and data security risks) as well as financial risks (financing 
and liquidity risk, currency, interest rate and credit risks).                  

In order to manage the Group's business operations it is essential to secure the
availability of certain raw materials, such as recycled metal and pig iron, and 
energy, at competitive prices. The cost risk relating to raw materials is mainly
managed with price agreements, and under these agreements the prices of products
are adjusted in line with the changes in raw material prices. Increases in      
prices for raw materials may tie up more funds in working capital than          
estimated.                                                                      

The financial risks relating to Componenta's business operations are managed in 
accordance with the treasury policy approved by the Board of Directors. The     
objective is to protect the Group against unfavourable changes in the finance   
markets and to secure the Group's financial performance and financial position. 

More information related to Componenta's risks and risk management is given in  
the 2009 annual report and on the company's website at www.componenta.com.      

Events after end of review period                                               

In Turkey, Componenta Dökümcülük A.S. received a claim on 7 October 2010 from   
Bursa tax office in which the tax office claims from Componenta Dökümcülük A.S. 
taxes and tax penalties related to Group's internal invoicing, totalling EUR 3.7
million. Componenta Dökümcülük A.S. will deny the claim and considers it to be  
unfounded.                                                                      

Prospects                                                                       

Componenta's prospects for the remaining part of 2010 are based on general      
external economic indicators, delivery forecasts given by customers, and on     
Componenta's order intake and order book.                                       

The demand outlook in all of the Group's customer industries have remained good 
in the third quarter of 2010 compared to the beginning of the year. Production  
volumes have improved also due to the fact that customers' inventory levels have
normalized.                                                                     

The demand for components of construction and mining industry has developed well
during the review period. This development is expected to continue in the last  
quarter due to the rise in raw material prices and economic recovery.           

The demand for agricultural machinery is expected to increase slightly towards  
the end of the year especially due to emerging markets.                         

Componenta's deliveries to the heavy trucks industry have significantly         
increased from the previous year. Volumes have increased due to normalized      
customer inventory levels and good demand in the emerging markets. Good         
development is expected to continue during the last quarter of the year.        

The number of passenger cars registered in Europe in January - September        
declined 4.3% compared to the previous year. The registrations in 2010 are      
expected to remain below the level of 2009. Due to the increase in the export of
Turkish automotive industry and good development in the demand for aluminium    
wheels, Componenta's deliveries to the automotive industry are expected to      
further increase during the last quarter of 2010.                               

Demand in the wind power industry turned positive during the second quarter of  
the year. The demand is expected to develop well towards the end of the year    
2010 despite the continuous problems related to the financing of new projects.  

Demand in the machine building industry has started to recover gradually.       

Componenta's order book at the end of the third quarter in 2010 was 75% higher  
than at the same time in the previous year.                                     

The rapid increase in raw material prices and exchange rate losses in the review
period affected the result after financial items negatively, by EUR 8.0 million 
in total.                                                                       

Componenta Group's net sales in 2010 are expected to increase significantly and 
the result after financial items is expected to improve clearly from the        
previous year.                                                                  

Last quarter profit after financial items is expected to be positive.           

The Group's cash flow from operations in 2010 is expected to remain positive and
only moderate changes in the net working capital are expected.                  

Interim report tables                                                           

Componenta has applied the same accounting principles in this interim report as 
in the financial statements for 2009. In addition, it has applied the revised   
standards IFRS 3 and IAS 27 as from 1 January 2010. Applying the revised        
standards has not affected the Group's reported result or its financial         
position. The financial statement tables in this unaudited interim report have  
been prepared in accordance with IAS 34 accounting principles.                  

Consolidated income statement                                                   

--------------------------------------------------------------------------------
| MEUR                      | 1.1.-30 | 1.1.-30 | 1.7.-30 | 1.7.-30 | 1.1.-31. |
|                           | .9.2010 | .9.2009 | .9.2010 | .9.2009 |  12.2009 |
--------------------------------------------------------------------------------
| Net sales                 |   320.9 |   223.5 |   112.3 |    64.8 |    299.6 |
--------------------------------------------------------------------------------
| Other operating income    |     0.0 |     1.6 |     0.4 |     0.3 |      2.4 |
--------------------------------------------------------------------------------
| Operating expenses        |  -301.3 |  -229.7 |  -105.4 |   -65.3 |   -305.2 |
--------------------------------------------------------------------------------
| Depreciation,             |   -12.1 |    -9.2 |    -4.0 |    -3.1 |    -12.5 |
| amortization and          |         |         |         |         |          |
| write-downs               |         |         |         |         |          |
--------------------------------------------------------------------------------
| Share of the associated   |     0.2 |     0.0 |     0.0 |     0.0 |      0.2 |
| companies' result         |         |         |         |         |          |
--------------------------------------------------------------------------------
| Operating profit          |     7.7 |   -13.7 |     3.4 |    -3.2 |    -15.4 |
--------------------------------------------------------------------------------
| % of net sales            |     2.4 |    -6.1 |     3.0 |    -5.0 |     -5.1 |
--------------------------------------------------------------------------------
| Financial income and      |   -17.6 |   -16.9 |    -5.5 |    -6.5 |    -21.8 |
| expenses                  |         |         |         |         |          |
--------------------------------------------------------------------------------
| Result after financial    |    -9.9 |   -30.7 |    -2.1 |    -9.7 |    -37.2 |
| items                     |         |         |         |         |          |
--------------------------------------------------------------------------------
| % of net sales            |    -3.1 |   -13.7 |    -1.9 |   -15.0 |    -12.4 |
--------------------------------------------------------------------------------
| Income taxes              |     2.9 |     7.3 |     0.8 |     2.2 |      8.5 |
--------------------------------------------------------------------------------
| Net profit                |    -7.0 |   -23.3 |    -1.3 |    -7.5 |    -28.7 |
--------------------------------------------------------------------------------
|                           |         |         |         |         |          |
--------------------------------------------------------------------------------
| Allocation of net profit  |         |         |         |         |          |
| for the period            |         |         |         |         |          |
--------------------------------------------------------------------------------
| To equity holders of the  |    -7.4 |   -23.1 |    -1.5 |    -7.4 |    -28.3 |
| parent                    |         |         |         |         |          |
--------------------------------------------------------------------------------
| To non-controlling        |     0.4 |    -0.3 |     0.2 |     0.0 |     -0.3 |
| interest                  |         |         |         |         |          |
--------------------------------------------------------------------------------
|                           |    -7.0 |   -23.3 |    -1.3 |    -7.5 |    -28.7 |
--------------------------------------------------------------------------------
| Earning per share         |         |         |         |         |          |
| calculated on the profit  |         |         |         |         |          |
| attributable to equity    |         |         |         |         |          |
| holders of the parent     |         |         |         |         |          |
--------------------------------------------------------------------------------
|  Earnings per share, EUR  |   -0.42 |   -2.11 |   -0.09 |   -0.68 |    -2.30 |
--------------------------------------------------------------------------------
| Earnings per share with   |   -0.42 |   -2.11 |   -0.09 |   -0.68 |    -2.30 |
| dilution, EUR  *)         |         |         |         |         |          |
--------------------------------------------------------------------------------
*) Earings per share with dilution has been restated for the financial year     
2009, the first three quarters and the third quarter of the year 2009. The      
effect of the dilution was erroneusly taken into account although the dilution  
decreased the loss of earnings per share.                                       

Consolidated statement of comprehensive income                                  

--------------------------------------------------------------------------------
| MEUR                      | 1.1.-30 | 1.1.-30 | 1.7.-30 | 1.7.-30 | 1.1.-31. |
|                           | .9.2010 | .9.2009 | .9.2010 | .9.2009 |  12.2009 |
--------------------------------------------------------------------------------
| Net profit                |    -7.0 |   -23.3 |    -1.3 |    -7.5 |    -28.7 |
--------------------------------------------------------------------------------
| Other comprehensive       |         |         |         |         |          |
| income                    |         |         |         |         |          |
--------------------------------------------------------------------------------
|   Translation differences |    12.1 |    -1.3 |    -4.2 |    -1.3 |     -1.0 |
--------------------------------------------------------------------------------
|   Cash flow hedges        |     1.9 |     0.5 |     0.4 |    -0.2 |      2.1 |
--------------------------------------------------------------------------------
| Income tax on other       |    -0.5 |    -0.1 |    -0.1 |     0.0 |     -0.5 |
| comprehensive income      |         |         |         |         |          |
--------------------------------------------------------------------------------
| Other comprehensive       |    13.5 |    -0.9 |    -3.9 |    -1.4 |      0.5 |
| income, net of tax        |         |         |         |         |          |
--------------------------------------------------------------------------------
| Total comprehensive       |     6.5 |   -24.3 |    -5.2 |    -8.9 |    -28.1 |
| income                    |         |         |         |         |          |
--------------------------------------------------------------------------------
|                           |         |         |         |         |          |
--------------------------------------------------------------------------------
| Allocation of total       |         |         |         |         |          |
| comprehensive income      |         |         |         |         |          |
--------------------------------------------------------------------------------
| To equity holders of the  |     5.5 |   -23.9 |    -5.2 |    -8.8 |    -27.8 |
| parent                    |         |         |         |         |          |
--------------------------------------------------------------------------------
| To non-controlling        |     1.0 |    -0.3 |     0.0 |    -0.1 |     -0.3 |
| interest                  |         |         |         |         |          |
--------------------------------------------------------------------------------
|                           |     6.5 |   -24.3 |    -5.2 |    -8.9 |    -28.1 |
--------------------------------------------------------------------------------

Consolidated statement of financial position                                    

--------------------------------------------------------------------------------
|                                        |           | (Restated* |            |
|                                        |           |          ) |            |
--------------------------------------------------------------------------------
| MEUR                                   | 30.9.2010 |  30.9.2009 | 31.12.2009 |
--------------------------------------------------------------------------------
| Assets                                 |           |            |            |
--------------------------------------------------------------------------------
| Non-current assets                     |           |            |            |
--------------------------------------------------------------------------------
|   Intangible assets                    |       6.4 |        6.0 |        6.4 |
--------------------------------------------------------------------------------
|   Goodwill                             |      34.3 |       31.4 |       31.5 |
--------------------------------------------------------------------------------
|   Investment properties                |       1.8 |        1.8 |        1.8 |
--------------------------------------------------------------------------------
|   Tangible assets                      |     250.0 |      242.8 |      244.2 |
--------------------------------------------------------------------------------
|   Investment in associates             |       1.3 |        0.9 |        1.1 |
--------------------------------------------------------------------------------
|   Receivables                          |       6.2 |        4.9 |        4.9 |
--------------------------------------------------------------------------------
|   Other investments                    |       0.5 |        0.4 |        0.4 |
--------------------------------------------------------------------------------
|   Deferred tax assets                  |      21.0 |       16.1 |       16.6 |
--------------------------------------------------------------------------------
| Total non-current assets               |     321.5 |      304.4 |      307.0 |
--------------------------------------------------------------------------------
| Current assets                         |           |            |            |
--------------------------------------------------------------------------------
|   Inventories                          |      54.0 |       49.3 |       41.0 |
--------------------------------------------------------------------------------
|   Receivables **)                      |      48.2 |       52.7 |       32.7 |
--------------------------------------------------------------------------------
|   Tax receivables                      |       0.3 |        0.3 |        0.2 |
--------------------------------------------------------------------------------
|   Cash and cash equivalents            |      17.7 |        6.8 |        7.6 |
--------------------------------------------------------------------------------
| Total current assets                   |     120.2 |      109.1 |       81.4 |
--------------------------------------------------------------------------------
| Total assets                           |     441.7 |      413.5 |      388.4 |
--------------------------------------------------------------------------------
|                                        |           |            |            |
--------------------------------------------------------------------------------
| Shareholders' equity and liabilities   |           |            |            |
--------------------------------------------------------------------------------
| Shareholders' equity                   |           |            |            |
--------------------------------------------------------------------------------
|   Share capital                        |      21.9 |       21.9 |       21.9 |
--------------------------------------------------------------------------------
|   Other equity                         |      45.0 |       44.2 |       39.4 |
--------------------------------------------------------------------------------
| Equity attributable to equity holders  |      66.9 |       66.1 |       61.3 |
| of the parent company                  |           |            |            |
--------------------------------------------------------------------------------
| Non-controlling interest               |       7.5 |        6.5 |        6.5 |
--------------------------------------------------------------------------------
| Shareholders' equity                   |      74.4 |       72.6 |       67.8 |
--------------------------------------------------------------------------------
| Liabilities                            |           |            |            |
--------------------------------------------------------------------------------
|   Non-current                          |           |            |            |
--------------------------------------------------------------------------------
|     Capital loan                       |      40.4 |       27.1 |       27.7 |
--------------------------------------------------------------------------------
|     Interest bearing                   |     198.6 |      180.0 |      165.3 |
--------------------------------------------------------------------------------
|     Interest free                      |         - |          - |          - |
--------------------------------------------------------------------------------
|     Provisions                         |       8.3 |        6.3 |        6.7 |
--------------------------------------------------------------------------------
|     Deferred tax liability             |       7.9 |        6.7 |        6.1 |
--------------------------------------------------------------------------------
|   Current                              |           |            |            |
--------------------------------------------------------------------------------
|     Capital loan                       |         - |        7.3 |        7.4 |
--------------------------------------------------------------------------------
|     Interest bearing                   |      25.0 |       47.1 |       48.8 |
--------------------------------------------------------------------------------
|     Interest free                      |      84.9 |       65.3 |       57.5 |
--------------------------------------------------------------------------------
|     Tax liabilities                    |       0.1 |        0.0 |        0.1 |
--------------------------------------------------------------------------------
|     Provisions                         |       2.1 |        1.1 |        1.1 |
--------------------------------------------------------------------------------
| Total liabilities                      |     367.3 |      340.9 |      320.6 |
--------------------------------------------------------------------------------
| Total shareholders' equity and         |     441.7 |      413.5 |      388.4 |
| liabilities                            |           |            |            |
--------------------------------------------------------------------------------
*) More information about the restatement can be found on the Annual Report 2009
page 39.                                                                        
**) Receivables 30 September 2009 iclude share issue receivables 3.0 MEUR and   
capital loan receivables 7.0 MEUR related to share issue 2009 and capital loan  
2009. These receivables were paid to company's bank account on 7 October 2009.  

Condensed consolidated cash flow statement                                      

--------------------------------------------------------------------------------
| MEUR                                        | 1.1.-30 | 1.1.-30. | 1.1.-31.1 |
|                                             | .9.2010 |   9.2009 |    2.2009 |
--------------------------------------------------------------------------------
| Cash flow from operating activities         |         |          |           |
--------------------------------------------------------------------------------
|     Result after financial items            |    -9.9 |    -30.7 |     -37.2 |
--------------------------------------------------------------------------------
|  Depreciation, amortization and write-downs |    12.1 |      9.2 |      12.5 |
--------------------------------------------------------------------------------
|     Net financial income and expenses       |    17.6 |     16.9 |      21.8 |
--------------------------------------------------------------------------------
| Other income and expenses, adjustments to   |     2.4 |     -0.2 |       0.5 |
| cash flow                                   |         |          |           |
--------------------------------------------------------------------------------
|     Change in net working capital           |     1.2 |     24.3 |      37.5 |
--------------------------------------------------------------------------------
| Cash flow from operations before financing  |    23.3 |     19.5 |      35.0 |
| and income taxes                            |         |          |           |
--------------------------------------------------------------------------------
| Interest received and paid and dividends    |   -16.3 |    -16.2 |     -23.5 |
| received                                    |         |          |           |
--------------------------------------------------------------------------------
|     Taxes paid                              |     0.0 |      2.8 |       2.8 |
--------------------------------------------------------------------------------
| Net cash flow from operating activities     |     7.0 |      6.1 |      14.2 |
--------------------------------------------------------------------------------
| Cash flow from investing activities         |         |          |           |
--------------------------------------------------------------------------------
| Capital expenditure in tangible and         |    -7.7 |     -9.2 |     -12.5 |
| intangible assets                           |         |          |           |
--------------------------------------------------------------------------------
| Proceeds from tangible and intangible       |     0.0 |      0.4 |       0.4 |
| assets                                      |         |          |           |
--------------------------------------------------------------------------------
|     Other investments and loans granted     |    -0.3 |     -1.0 |      -0.5 |
--------------------------------------------------------------------------------
| Proceeds from other investments and         |       - |        - |       0.0 |
| repayments of loan receivables              |         |          |           |
--------------------------------------------------------------------------------
| Net cash flow from investing activities     |    -8.0 |     -9.8 |     -12.6 |
--------------------------------------------------------------------------------
| Cash flow from financing activities         |         |          |           |
--------------------------------------------------------------------------------
|     Dividends paid                          |       - |     -3.3 |      -3.3 |
--------------------------------------------------------------------------------
|     Proceeds from share issue               |       - |     10.3 |      13.3 |
--------------------------------------------------------------------------------
|     Repayment of finance lease liabilities  |    -1.3 |     -0.8 |      -1.6 |
--------------------------------------------------------------------------------
| Draw-down (+)/ repayment (-) of current     |   -27.5 |     -5.7 |      -5.1 |
| loans                                       |         |          |           |
--------------------------------------------------------------------------------
|     Draw-down of non-current loans          |    69.3 |     37.9 |      38.3 |
--------------------------------------------------------------------------------
| Repayment of non-current loans and other    |   -29.9 |    -33.1 |     -40.7 |
| changes                                     |         |          |           |
--------------------------------------------------------------------------------
| Net cash flow from financing activities     |    10.7 |      5.4 |       0.9 |
--------------------------------------------------------------------------------
| Change in liquid assets                     |     9.6 |      1.7 |       2.5 |
--------------------------------------------------------------------------------
| Cash and cash equivalents at the beginning  |     7.6 |      5.2 |       5.2 |
| of the period                               |         |          |           |
--------------------------------------------------------------------------------
|    Effects of exchange rate changes on cash |     0.5 |     -0.1 |      -0.1 |
--------------------------------------------------------------------------------
| Cash and cash equivalents at the period end |    17.7 |      6.8 |       7.6 |
--------------------------------------------------------------------------------
| Change during the financial period          |     9.6 |      1.7 |       2.5 |
--------------------------------------------------------------------------------

Statement of changes in consolidated shareholders' equity                       

--------------------------------------------------------------------------------
| MEUR       | Sha | Shar | Othe |  Fair | Tran | Retai | Tota | Non-c | Share |
|            |  re |    e |    r | value |    s |   ned |    l |    on |  hold |
|            |  ca |   pr |   re | reser |  lat |     e |      |    tr |  ers' |
|            | pit | emiu | serv |    ve |  ion | arnin |      | ollin | equit |
|            |  al |    m |   es |       | diff |    gs |      |     g |     y |
|            |     |   ac |      |       |    e |       |      |   int |   tot |
|            |     | coun |      |       |   re |       |      | erest |    al |
|            |     |    t |      |       | nces |       |      |       |       |
--------------------------------------------------------------------------------
| Shareholde | 21. | 15.0 |  6.5 |  -2.8 | -23. |  47.3 | 64.3 |   6.8 |  71.1 |
| rs' equity |   9 |      |      |       |    5 |       |      |       |       |
| 1.1.2009   |     |      |      |       |      |       |      |       |       |
--------------------------------------------------------------------------------
| Net profit |     |      |      |       |      | -23.1 | -23. |  -0.3 | -23.3 |
|            |     |      |      |       |      |       |    1 |       |       |
--------------------------------------------------------------------------------
| Translatio |     |      |      |       | -1.3 |       | -1.3 |   0.0 |  -1.3 |
| n          |     |      |      |       |      |       |      |       |       |
| difference |     |      |      |       |      |       |      |       |       |
| s          |     |      |      |       |      |       |      |       |       |
--------------------------------------------------------------------------------
| Cash flow  |     |      |      |   0.4 |      |       |  0.4 |       |   0.4 |
| hedges     |     |      |      |       |      |       |      |       |       |
--------------------------------------------------------------------------------
| Total      |     |      |      |   0.4 | -1.3 | -23.1 | -23. |  -0.3 | -24.3 |
| comprehens |     |      |      |       |      |       |    9 |       |       |
| ive income |     |      |      |       |      |       |      |       |       |
--------------------------------------------------------------------------------
| Share      |     |      | 29.0 |       |      |       | 29.0 |       |  29.0 |
| issue      |     |      |      |       |      |       |      |       |       |
--------------------------------------------------------------------------------
| Dividends  |     |      |      |       |      |  -3.3 | -3.3 |       |  -3.3 |
| paid       |     |      |      |       |      |       |      |       |       |
--------------------------------------------------------------------------------
| Shareholde | 21. | 15.0 | 35.5 |  -2.4 | -24. |  20.9 | 66.1 |   6.5 |  72.6 |
| rs' equity |   9 |      |      |       |    8 |       |      |       |       |
| 30.9.2009  |     |      |      |       |      |       |      |       |       |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| MEUR       | Sha | Shar | Othe |  Fair | Tran | Retai | Tota | Non-c | Share |
|            |  re |    e |    r | value |    s |   ned |    l |    on |  hold |
|            | cap |   pr |   re | reser |   la |     e |      |    tr |  ers' |
|            | ita | emiu | serv |    ve | tion | arnin |      | ollin | equit |
|            |   l |    m |   es |       |  dif |    gs |      |     g |     y |
|            |     |   ac |      |       |   fe |       |      |   int |   tot |
|            |     | coun |      |       |    r |       |      | erest |    al |
|            |     |    t |      |       | ence |       |      |       |       |
|            |     |      |      |       |    s |       |      |       |       |
--------------------------------------------------------------------------------
| Shareholde | 21. | 15.0 | 34.6 |  -1.3 | -24. |  15.6 | 61.3 |   6.5 |  67.8 |
| rs' equity |   9 |      |      |       |    5 |       |      |       |       |
| 1.1.2010   |     |      |      |       |      |       |      |       |       |
--------------------------------------------------------------------------------
| Net profit |     |      |      |       |      |  -7.4 | -7.4 |   0.4 |  -7.0 |
--------------------------------------------------------------------------------
| Translatio |     |      |      |       | 11.5 |       | 11.5 |   0.6 |  12.1 |
| n          |     |      |      |       |      |       |      |       |       |
| difference |     |      |      |       |      |       |      |       |       |
| s          |     |      |      |       |      |       |      |       |       |
--------------------------------------------------------------------------------
| Cash flow  |     |      |      |   1.4 |      |       |  1.4 |       |   1.4 |
| hedges     |     |      |      |       |      |       |      |       |       |
--------------------------------------------------------------------------------
| Total      |     |      |      |   1.4 | 11.5 |  -7.4 |  5.5 |   1.0 |   6.5 |
| comprehens |     |      |      |       |      |       |      |       |       |
| ive income |     |      |      |       |      |       |      |       |       |
--------------------------------------------------------------------------------
| Shareholde | 21. | 15.0 | 34.6 |   0.1 | -13. |   8.3 | 66.9 |   7.5 |  74.4 |
| rs' equity |   9 |      |      |       |    0 |       |      |       |       |
| 30.9.2010  |     |      |      |       |      |       |      |       |       |
--------------------------------------------------------------------------------

Key ratios                                                                      

--------------------------------------------------------------------------------
|                                            | 30.9.201 | 30.9.200 | 31.12.200 |
|                                            |        0 |        9 |         9 |
--------------------------------------------------------------------------------
| Equity ratio, % *)                         |     16.9 |     17.6 |      17.5 |
--------------------------------------------------------------------------------
| Equity per share, EUR *)                   |     3.83 |     3.78 |      3.51 |
--------------------------------------------------------------------------------
| Invested capital at period end *)          |    338.3 |    334.0 |     316.9 |
--------------------------------------------------------------------------------
| Return on investment, % *)                 |      3.9 |     -4.9 |      -4.1 |
--------------------------------------------------------------------------------
| Return on equity, % *)                     |    -12.7 |    -49.8 |     -45.1 |
--------------------------------------------------------------------------------
| Net interest bearing debt, preferred       |    246.3 |    247.7 |     241.6 |
| capital note in debt, MEUR                 |          |          |           |
--------------------------------------------------------------------------------
| Net gearing, %, preferred capital note in  |    331.2 |    341.3 |     356.4 |
| debt *)                                    |          |          |           |
--------------------------------------------------------------------------------
| Order book, MEUR                           |     85.8 |     49.0 |      58.8 |
--------------------------------------------------------------------------------
| Investments in non-current assets without  |      5.9 |      9.5 |      13.4 |
| finance leases, MEUR                       |          |          |           |
--------------------------------------------------------------------------------
| Investments in non-current assets incl.    |      5.9 |     12.8 |      17.9 |
| finance leases, MEUR                       |          |          |           |
--------------------------------------------------------------------------------
| Investments in non-current assets, % of    |      1.8 |      5.7 |       6.0 |
| net sales                                  |          |          |           |
--------------------------------------------------------------------------------
| Average number of personnel during the     |    3,795 |    3,701 |     3,684 |
| period                                     |          |          |           |
--------------------------------------------------------------------------------
| Average number of personnel during the     |    4,065 |    3,824 |     3,798 |
| period, incl. leased personnel             |          |          |           |
--------------------------------------------------------------------------------
| Number of personnel at period end          |    3,993 |    3,638 |     3,614 |
--------------------------------------------------------------------------------
| Number of personnel at period end, incl.   |    4,363 |    3,734 |     3,698 |
| leased personnel                           |          |          |           |
--------------------------------------------------------------------------------
| Share of export and foreign activities in  |     88.3 |     81.6 |      82.7 |
| net sales, %                               |          |          |           |
--------------------------------------------------------------------------------
| Contingent liabilities, MEUR               |    222.2 |    221.7 |     221.1 |
--------------------------------------------------------------------------------
|                                            |          |          |           |
--------------------------------------------------------------------------------
| Earnings per share (EPS), EUR              |    -0.42 |    -2.11 |     -2.30 |
--------------------------------------------------------------------------------
| Earnings per share, with dilution (EPS),   |    -0.42 |    -2.11 |     -2.30 |
| EUR **)                                    |          |          |           |
--------------------------------------------------------------------------------
| Cash flow per share, EUR                   |     0.40 |     0.56 |      1.16 |
--------------------------------------------------------------------------------
*)  30 September 2009 restated                                                  
**)  31 December 2009 and 30 September 2009 restated                            

Changes in tangible assets and goodwill                                         

--------------------------------------------------------------------------------
| MEUR                                      | 1-9/2010 |  1-9/2009 | 1-12/2009 |
--------------------------------------------------------------------------------
| Changes in tangible assets                |          |           |           |
--------------------------------------------------------------------------------
| Acquisition cost at the beginning of the  |    531.1 |     553.2 |     553.2 |
| period                                    |          |           |           |
--------------------------------------------------------------------------------
| Translation differences                   |     26.5 |       2.0 |       1.9 |
--------------------------------------------------------------------------------
| Additions                                 |      4.8 |      10.3 |      14.5 |
--------------------------------------------------------------------------------
| Disposals                                 |     -0.6 |     -27.1 |     -38.6 |
--------------------------------------------------------------------------------
| Acquisition cost at the end of the period |    561.8 |     538.4 |     531.1 |
--------------------------------------------------------------------------------
| Accumulated depreciation at the beginning |   -286.9 |    -313.0 |    -313.0 |
| of the period                             |          |           |           |
--------------------------------------------------------------------------------
| Translation differences                   |    -14.4 |      -1.3 |      -1.2 |
--------------------------------------------------------------------------------
| Accumulated depreciation on disposals     |      0.0 |      26.6 |      38.1 |
--------------------------------------------------------------------------------
| Depreciation, amortization and            |    -10.5 |      -7.9 |     -10.8 |
| write-downs during the period             |          |           |           |
--------------------------------------------------------------------------------
| Accumulated depreciation at the end of    |   -311.8 |    -295.6 |    -286.9 |
| the period                                |          |           |           |
--------------------------------------------------------------------------------
| Book value at the end of the period       |    250.0 |     242.8 |     244.2 |
--------------------------------------------------------------------------------
|                                           |          |           |           |
--------------------------------------------------------------------------------
| Goodwill                                  |          |           |           |
--------------------------------------------------------------------------------
| Acquisition cost at the beginning of the  |     31.5 |      31.7 |      31.7 |
| period                                    |          |           |           |
--------------------------------------------------------------------------------
| Translation difference                    |      2.8 |      -0.3 |      -0.2 |
--------------------------------------------------------------------------------
| Book value at the end of the period       |     34.3 |      31.4 |      31.5 |
--------------------------------------------------------------------------------

Group development                                                               

Net sales by market area                                                        

--------------------------------------------------------------------------------
| MEUR                          |    1-12/2009 |      1-9/2009 |      1-9/2010 |
--------------------------------------------------------------------------------
| Germany                       |         58.6 |          44.1 |          54.8 |
--------------------------------------------------------------------------------
| Finland                       |         51.8 |          42.2 |          37.5 |
--------------------------------------------------------------------------------
| Turkey                        |         49.4 |          34.5 |          52.2 |
--------------------------------------------------------------------------------
| Sweden                        |         39.8 |          27.7 |          56.9 |
--------------------------------------------------------------------------------
| UK                            |         31.2 |          23.4 |          34.4 |
--------------------------------------------------------------------------------
| France                        |         20.2 |          15.6 |          19.7 |
--------------------------------------------------------------------------------
| Benelux countries             |         19.2 |          14.3 |          25.2 |
--------------------------------------------------------------------------------
| Italy                         |         12.1 |           8.9 |          13.9 |
--------------------------------------------------------------------------------
| Other European countries      |          5.5 |           3.4 |           6.8 |
--------------------------------------------------------------------------------
| Other countries               |         11.7 |           9.4 |          19.5 |
--------------------------------------------------------------------------------
| Total                         |        299.6 |         223.5 |         320.9 |
--------------------------------------------------------------------------------

Quarterly development by market area                                            

--------------------------------------------------------------------------------
| MEUR             | Q1/09 | Q2/09 | Q3/09 |  Q4/09 |  Q1/10 |  Q2/10 |  Q3/10 |
--------------------------------------------------------------------------------
| Germany          |  16.9 |  12.7 |  14.4 |   14.5 |   15.2 |   20.9 |   18.6 |
--------------------------------------------------------------------------------
| Finland          |  21.4 |  11.8 |   9.0 |    9.6 |   11.0 |   13.6 |   12.9 |
--------------------------------------------------------------------------------
| Turkey           |   9.0 |  15.3 |  10.2 |   14.9 |   14.3 |   19.1 |   18.8 |
--------------------------------------------------------------------------------
| Sweden           |  11.0 |   8.0 |   8.7 |   12.1 |   15.5 |   21.9 |   19.5 |
--------------------------------------------------------------------------------
| UK               |   7.6 |   7.9 |   7.8 |    7.8 |    9.9 |   12.0 |   12.5 |
--------------------------------------------------------------------------------
| France           |   6.2 |   5.9 |   3.6 |    4.6 |    6.1 |    7.1 |    6.5 |
--------------------------------------------------------------------------------
| Benelux          |   6.8 |   2.6 |   5.0 |    4.9 |    7.1 |    9.4 |    8.7 |
| countries        |       |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Italy            |   4.4 |   2.9 |   1.6 |    3.2 |    3.8 |    4.2 |    5.9 |
--------------------------------------------------------------------------------
| Other European   |   1.0 |   1.6 |   0.8 |    2.1 |    2.2 |    2.2 |    2.5 |
| countries        |       |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Other countries  |   3.8 |   1.9 |   3.7 |    2.3 |    6.1 |    6.9 |    6.5 |
--------------------------------------------------------------------------------
| Total            |  88.1 |  70.6 |  64.8 |   76.1 |   91.2 |  117.3 |  112.3 |
--------------------------------------------------------------------------------

Group development                                                               

--------------------------------------------------------------------------------
| MEUR                          |    1-12/2009 |      1-9/2009 |      1-9/2010 |
--------------------------------------------------------------------------------
| Net sales                     |        299.6 |         223.5 |         320.9 |
--------------------------------------------------------------------------------
| Operating profit              |        -15.4 |         -13.7 |           7.7 |
--------------------------------------------------------------------------------
| Net financial items *)        |        -21.8 |         -16.9 |         -17.6 |
--------------------------------------------------------------------------------
| Profit after financial items  |        -37.2 |         -30.7 |          -9.9 |
--------------------------------------------------------------------------------
*) Net financial items are not allocated to business segments                   

Group development by business segment                                           

--------------------------------------------------------------------------------
| Net sales, MEUR               |    1-12/2009 |      1-9/2009 |      1-9/2010 |
--------------------------------------------------------------------------------
| Turkey                        |        116.2 |          80.6 |         145.2 |
--------------------------------------------------------------------------------
| Finland                       |         80.4 |          64.0 |          73.0 |
--------------------------------------------------------------------------------
| Holland                       |         69.5 |          55.1 |          62.9 |
--------------------------------------------------------------------------------
| Sweden                        |         41.5 |          28.6 |          57.8 |
--------------------------------------------------------------------------------
| Other business                |         49.9 |          37.3 |          47.2 |
--------------------------------------------------------------------------------
| Internal items                |        -57.9 |         -42.2 |         -65.2 |
--------------------------------------------------------------------------------
| Componenta total              |        299.6 |         223.5 |         320.9 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Operating profit, MEUR        |    1-12/2009 |      1-9/2009 |      1-9/2010 |
--------------------------------------------------------------------------------
| Turkey                        |          2.2 |           1.1 |          10.9 |
--------------------------------------------------------------------------------
| Finland                       |         -3.9 |          -2.2 |          -0.8 |
--------------------------------------------------------------------------------
| Holland                       |        -10.2 |          -8.8 |          -1.0 |
--------------------------------------------------------------------------------
| Sweden                        |         -8.8 |          -6.9 |          -0.8 |
--------------------------------------------------------------------------------
| Other business                |          4.6 |           2.5 |          -1.0 |
--------------------------------------------------------------------------------
| One-time items                |          0.0 |           0.1 |           0.0 |
--------------------------------------------------------------------------------
| Internal items                |          0.7 |           0.4 |           0.3 |
--------------------------------------------------------------------------------
| Componenta total              |        -15.4 |         -13.7 |           7.7 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Order book, MEUR              |    12/2009*) |        9/2009 |        9/2010 |
--------------------------------------------------------------------------------
| Turkey                        |         28.1 |          22.2 |          42.5 |
--------------------------------------------------------------------------------
| Finland                       |         11.8 |           9.9 |          16.7 |
--------------------------------------------------------------------------------
| Holland                       |         12.5 |          10.6 |          14.7 |
--------------------------------------------------------------------------------
| Sweden                        |         10.5 |           9.3 |          18.7 |
--------------------------------------------------------------------------------
| Internal items                |         -4.1 |          -2.9 |          -6.8 |
--------------------------------------------------------------------------------
| Componenta total              |         58.8 |          49.0 |          85.8 |
--------------------------------------------------------------------------------
*) Order book on 15 January 2010                                                

Group development by quarter                                                    

--------------------------------------------------------------------------------
| MEUR             | Q1/09 | Q2/09 | Q3/09 |  Q4/09 |  Q1/10 |  Q2/10 |  Q3/10 |
--------------------------------------------------------------------------------
| Net sales        |  88.1 |  70.6 |  64.8 |   76.1 |   91.2 |  117.3 |  112.3 |
--------------------------------------------------------------------------------
| Operating profit |  -6.1 |  -4.3 |  -3.2 |   -1.7 |    0.3 |    4.0 |    3.4 |
--------------------------------------------------------------------------------
| Net financial    |  -4.7 |  -5.7 |  -6.5 |   -4.9 |   -5.9 |   -6.2 |   -5.5 |
| items *)         |       |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Profit after     | -10.9 | -10.1 |  -9.7 |   -6.5 |   -5.6 |   -2.2 |   -2.1 |
| financial items  |       |       |       |        |        |        |        |
--------------------------------------------------------------------------------
*) Net financial items are not allocated to business segments                   

Quarterly development by business segment                                       

--------------------------------------------------------------------------------
| Net sales, MEUR  | Q1/09 | Q2/09 | Q3/09 |  Q4/09 |  Q1/10 |  Q2/10 |  Q3/10 |
--------------------------------------------------------------------------------
| Turkey           |  24.9 |  28.4 |  27.4 |   35.6 |   40.6 |   53.1 |   51.5 |
--------------------------------------------------------------------------------
| Finland          |  29.1 |  19.5 |  15.4 |   16.4 |   20.8 |   27.0 |   25.1 |
--------------------------------------------------------------------------------
| Holland          |  23.9 |  15.8 |  15.4 |   14.4 |   18.7 |   23.4 |   20.8 |
--------------------------------------------------------------------------------
| Sweden           |  10.5 |   9.5 |   8.7 |   12.9 |   15.8 |   21.3 |   20.6 |
--------------------------------------------------------------------------------
| Other business   |  12.9 |  12.1 |  12.3 |   12.5 |   14.3 |   16.2 |   16.8 |
--------------------------------------------------------------------------------
| Internal items   | -13.1 | -14.7 | -14.4 |  -15.7 |  -19.0 |  -23.7 |  -22.5 |
--------------------------------------------------------------------------------
| Componenta total |  88.1 |  70.6 |  64.8 |   76.1 |   91.2 |  117.3 |  112.3 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Operating        | Q1/09 | Q2/09 | Q3/09 |  Q4/09 |  Q1/10 |  Q2/10 |  Q3/10 |
| profit, MEUR     |       |       |       |        |        |        |        |
--------------------------------------------------------------------------------
| Turkey           |  -0.4 |   0.4 |   1.1 |    1.1 |    3.2 |    3.3 |    4.5 |
--------------------------------------------------------------------------------
| Finland          |   0.5 |  -1.2 |  -1.5 |   -1.7 |   -0.6 |    0.7 |   -0.9 |
--------------------------------------------------------------------------------
| Holland          |  -4.1 |  -2.7 |  -1.9 |   -1.5 |   -0.1 |    0.2 |   -1.0 |
--------------------------------------------------------------------------------
| Sweden           |  -3.2 |  -1.7 |  -2.1 |   -1.9 |   -1.4 |    0.0 |    0.6 |
--------------------------------------------------------------------------------
| Other business   |   0.8 |   0.8 |   1.0 |    2.1 |   -0.7 |   -0.2 |    0.0 |
--------------------------------------------------------------------------------
| One-time items   |   0.0 |   0.1 |   0.1 |    0.0 |    0,0 |    0.0 |    0.0 |
--------------------------------------------------------------------------------
| Internal items   |   0.4 |   0.0 |   0.1 |    0.3 |    0.0 |    0.0 |    0.3 |
--------------------------------------------------------------------------------
| Componenta total |  -6.1 |  -4.3 |  -3.2 |   -1.7 |    0.3 |    4.0 |    3.4 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Order book at    | Q1/09 | Q2/09 | Q3/09 | Q4/09* |  Q1/10 |  Q2/10 |  Q3/10 |
| period end, MEUR |       |       |       |      ) |        |        |        |
--------------------------------------------------------------------------------
| Turkey           |  17.1 |  23.3 |  22.2 |   28.1 |   32.6 |   42.4 |   42.5 |
--------------------------------------------------------------------------------
| Finland          |  11.4 |  10.4 |   9.9 |   11.8 |   13.6 |   15.8 |   16.7 |
--------------------------------------------------------------------------------
| Holland          |  13.8 |  13.4 |  10.6 |   12.5 |   13.4 |   14.6 |   14.7 |
--------------------------------------------------------------------------------
| Sweden           |   6.0 |   6.4 |   9.3 |   10.5 |   13.3 |   16.5 |   18.7 |
--------------------------------------------------------------------------------
| Internal items   |  -2.3 |  -1.8 |  -2.9 |   -4.1 |   -5.0 |   -5.7 |   -6.8 |
--------------------------------------------------------------------------------
| Componenta total |  46.2 |  51.7 |  49.0 |   58.8 |   68.0 |   83.6 |   85.8 |
--------------------------------------------------------------------------------
*) Order book on 15 January 2010                                                

Business segments                                                               

--------------------------------------------------------------------------------
| MEUR                                     | 30.9.201 | 30.9.2009 | 31.12.2009 |
|                                          |    0     |           |            |
--------------------------------------------------------------------------------
| Turkey                                   |          |           |            |
--------------------------------------------------------------------------------
|    Assets                                |    211.9 |     191.1 |      183.9 |
--------------------------------------------------------------------------------
|    Liabilities                           |     32.7 |      20.7 |       20.3 |
--------------------------------------------------------------------------------
| Investments in non-current assets (incl. |      3.7 |       4.2 |        5.4 |
| finance leases)                          |          |           |            |
--------------------------------------------------------------------------------
| Depreciation, amortization and           |      3.9 |       2.6 |        3.8 |
| write-downs                              |          |           |            |
--------------------------------------------------------------------------------
| Finland                                  |          |           |            |
--------------------------------------------------------------------------------
|    Assets                                |     80.4 |      76.3 |       81.2 |
--------------------------------------------------------------------------------
|    Liabilities                           |     23.3 |      15.3 |       19.4 |
--------------------------------------------------------------------------------
| Investments in non-current assets (incl. |      1.4 |       3.9 |        4.8 |
| finance leases)                          |          |           |            |
--------------------------------------------------------------------------------
| Depreciation, amortization and           |      3.6 |       2.9 |        3.7 |
| write-downs                              |          |           |            |
--------------------------------------------------------------------------------
| Holland                                  |          |           |            |
--------------------------------------------------------------------------------
|    Assets                                |     51.5 |      52.9 |       47.6 |
--------------------------------------------------------------------------------
|    Liabilities                           |     13.8 |      10.1 |        7.7 |
--------------------------------------------------------------------------------
| Investments in non-current assets (incl. |      0.3 |       0.5 |        0.6 |
| finance leases)                          |          |           |            |
--------------------------------------------------------------------------------
| Depreciation, amortization and           |      1.1 |       1.1 |        1.4 |
| write-downs                              |          |           |            |
--------------------------------------------------------------------------------
| Sweden                                   |          |           |            |
--------------------------------------------------------------------------------
|    Assets                                |     49.2 |      40.0 |       42.1 |
--------------------------------------------------------------------------------
|    Liabilities                           |     19.7 |      11.0 |       13.3 |
--------------------------------------------------------------------------------
| Investments in non-current assets (incl. |      0.2 |       1.1 |        2.9 |
| finance leases)                          |          |           |            |
--------------------------------------------------------------------------------
| Depreciation, amortization and           |      1.5 |       0.8 |        1.2 |
| write-downs                              |          |           |            |
--------------------------------------------------------------------------------
| Other business                           |          |           |            |
--------------------------------------------------------------------------------
|    Assets                                |     53.1 |      61.9 |       53.4 |
--------------------------------------------------------------------------------
|    Liabilities                           |     25.7 |      25.1 |       21.9 |
--------------------------------------------------------------------------------
| Investments in non-current assets (incl. |      0.1 |       3.1 |        4.3 |
| finance leases)                          |          |           |            |
--------------------------------------------------------------------------------
| Depreciation, amortization and           |      2.0 |       1.8 |        2.5 |
| write-downs                              |          |           |            |
--------------------------------------------------------------------------------

Fair values of derivative instruments                                           

--------------------------------------------------------------------------------
|                           |          30.9.2010          | 30.9.20 | 31.12.20 |
|                           |                             |      09 |       09 |
--------------------------------------------------------------------------------
| MEUR                      |    Fair |    Fair |    Fair |    Fair |     Fair |
|                           |  value, |  value, |  value, |  value, |   value, |
|                           | positiv | negativ |     net |     net |      net |
|                           |       e |       e |         |         |          |
--------------------------------------------------------------------------------
| Currency derivatives      |         |         |         |         |          |
--------------------------------------------------------------------------------
| Foreign exchange forwards |     0.0 |    -0.1 |     0.0 |       - |      0.1 |
--------------------------------------------------------------------------------
|   Currency swaps          |     0.0 |    -1.5 |    -1.5 |    -1.2 |      0.1 |
--------------------------------------------------------------------------------
| Interest rate derivatives |         |         |         |         |          |
--------------------------------------------------------------------------------
|   Interest rate options   |     0.4 |    -0.6 |    -0.2 |     0.7 |      0.4 |
--------------------------------------------------------------------------------
|   Interest rate swaps     |     0.0 |    -0.9 |    -0.8 |    -2.4 |     -2.0 |
--------------------------------------------------------------------------------
| Commodity derivatives     |         |         |         |         |          |
--------------------------------------------------------------------------------
| Electricity price         |     0.6 |     0.0 |     0.6 |    -1.8 |     -0.4 |
| forwards                  |         |         |         |         |          |
--------------------------------------------------------------------------------
| Total                     |     1.1 |    -3.0 |    -2.0 |    -4.7 |     -1.8 |
--------------------------------------------------------------------------------

Nominal values of derivative instruments                                        

--------------------------------------------------------------------------------
|                                          | 30.9.201 | 30.9.2009 | 31.12.2009 |
|                                          |    0     |           |            |
--------------------------------------------------------------------------------
| MEUR                                     |  Nominal |   Nominal |    Nominal |
|                                          |    value |     value |      value |
--------------------------------------------------------------------------------
| Currency derivatives *)                  |          |           |            |
--------------------------------------------------------------------------------
|   Foreign exchange forwards              |      6.0 |         - |        6.0 |
--------------------------------------------------------------------------------
|   Currency swaps                         |     62.8 |      38.2 |       43.1 |
--------------------------------------------------------------------------------
| Interest rate derivatives                |          |           |            |
--------------------------------------------------------------------------------
|   Interest rate options                  |     28.0 |      42.0 |       42.0 |
--------------------------------------------------------------------------------
|   Interest rate swaps                    |          |           |            |
--------------------------------------------------------------------------------
|     Maturity in less than a year         |     28.0 |      20.0 |       24.0 |
--------------------------------------------------------------------------------
| Maturity after one year and less than    |     50.0 |      32.0 |       28.0 |
| five years                               |          |           |            |
--------------------------------------------------------------------------------
| Commodity derivatives                    |          |           |            |
--------------------------------------------------------------------------------
|   Electricity price forwards             |          |           |            |
--------------------------------------------------------------------------------
|     Maturity in less than a year         |      1.0 |       1.0 |        3.9 |
--------------------------------------------------------------------------------
| Maturity after one year and less than    |      8.1 |       7.1 |        4.2 |
| five years                               |          |           |            |
--------------------------------------------------------------------------------
| Total                                    |    183.9 |     140.3 |      151.1 |
--------------------------------------------------------------------------------
*) Currency derivatives mature in less than a year.                             

Contingent liabilities                                                          

--------------------------------------------------------------------------------
| MEUR                             |   30.9.2010 |    30.9.2009 |   31.12.2009 |
--------------------------------------------------------------------------------
| Real-estate mortgages            |             |              |              |
--------------------------------------------------------------------------------
|    For own debts                 |        15.2 |         15.2 |         15.2 |
--------------------------------------------------------------------------------
| Business mortgages               |             |              |              |
--------------------------------------------------------------------------------
|    For own debts                 |           - |          0.2 |            - |
--------------------------------------------------------------------------------
| Pledges                          |             |              |              |
--------------------------------------------------------------------------------
|    For own debts                 |       197.2 |        197.0 |        198.1 |
--------------------------------------------------------------------------------
| Other leasing commitments        |         5.3 |          3.4 |          3.5 |
--------------------------------------------------------------------------------
| Other commitments                |         4.4 |          5.9 |          4.4 |
--------------------------------------------------------------------------------
| Total                            |       222.2 |        221.7 |        221.1 |
--------------------------------------------------------------------------------

Key exchange rates                                                              

--------------------------------------------------------------------------------
|                            |     Closing rate      |      Average rate       |
--------------------------------------------------------------------------------
| One Euro is                | 30.9.2010 | 31.12.200 |  30.9.2010 | 31.12.2009 |
|                            |           |         9 |            |            |
--------------------------------------------------------------------------------
| SEK                        |    9.1421 |   10.2520 |     9.6484 |    10.6191 |
--------------------------------------------------------------------------------
| USD                        |    1.3648 |    1.4406 |     1.3145 |     1.3948 |
--------------------------------------------------------------------------------
| GPB                        |    0.8600 |    0.8881 |     0.8573 |     0.8909 |
--------------------------------------------------------------------------------
| TRY (Turkish central bank) |    1.9754 |    2.1603 |     1.9927 |     2.1508 |
--------------------------------------------------------------------------------

Calculation of key financial ratios                                             

--------------------------------------------------------------------------------
| Return on | =  | Profit after financial items - income taxes x 100           |
| equity -% |    | Shareholders' equity, preferred capital notes excluded +    |
| (ROE)     |    | non-controlling interest (quarterly average)                |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Return on | =  | Profit after financial items + interest and other financial |
| investmen |    | expenses x 100                                              |
| t -%      |    | Shareholders' equity + interest bearing                     |
| (ROI)     |    | liabilities (quarterly average)                             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity    | =  | Shareholders' equity, preferred capital notes excluded +    |
| ratio, %  |    | non-controlling interest x 100                              |
|           |    | Balance sheet total -                                       |
|           |    | advances received                                           |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Earnings  | =  | Profit after financial items - income taxes +/-             |
| per       |    | non-controlling interest                                    |
| share,    |    | Average number of shares during                             |
| EUR (EPS) |    | the financial period                                        |
|           |    |                                                             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Earnings  | =  | As above, but the number of shares has been increased with  |
| per share |    | the warrants outstanding. When calculating the dilution     |
| with      |    | effect of warrants, the number of shares has been adjusted  |
| dilution, |    | with the number of own shares which the company could have  |
| EUR       |    | acquired, if it would have used the funds generated from    |
|           |    | the warrants to buy back of own shares at market price (=   |
|           |    | average trading price). After tax interest expense of the   |
|           |    | convertible loan has been added to the profit of the        |
|           |    | period. Number of shares that can be subscribed by the      |
|           |    | loan, has been added to the number of total shares.         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash flow | =  | Net cash flow from operating activities                     |
| per       |    | Average number of                                           |
| share,    |    | shares during the financial period                          |
| EUR       |    |                                                             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity    | =  | Shareholders' equity, preferred capital notes excluded      |
| per       |    | Number of shares at period end                              |
| share,    |    |                                                             |
| EUR       |    |                                                             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net       | =  | Interest bearing liabilities + preferred capital notes -    |
| interest  |    | cash and bank accounts                                      |
| bearing   |    |                                                             |
| debt      |    |                                                             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net       | =  | Net interest bearing liabilities x 100                      |
| gearing,  |    | Shareholders'                                               |
| %         |    | equity, preferred capital notes excluded + non-controlling  |
|           |    | interest                                                    |
--------------------------------------------------------------------------------

Largest registered shareholders on 30 September 2010                            

--------------------------------------------------------------------------------
| Shareholder                         |           |     Shares |      Share of |
|                                     |           |            |  total voting |
|                                     |           |            |     rights, % |
--------------------------------------------------------------------------------
| 1   Lehtonen Heikki                 |           |  5,311,340 |         30.42 |
--------------------------------------------------------------------------------
|       Cabana Trade S.A.             | 3,501,988 |            |               |
--------------------------------------------------------------------------------
|       Oy Högfors-Trading Ab         | 1,806,052 |            |               |
--------------------------------------------------------------------------------
|       Lehtonen Heikki               |     3,300 |            |               |
--------------------------------------------------------------------------------
| 2   Etra Capital Oy                 |           |  4,347,464 |         24.90 |
--------------------------------------------------------------------------------
| 3   Varma Mutual Pension Insurance  |           |    978,968 |          5.61 |
| Company                             |           |            |               |
--------------------------------------------------------------------------------
| 4   Ilmarinen Mutual Pension        |           |    724,266 |          4.15 |
| Insurance Company                   |           |            |               |
--------------------------------------------------------------------------------
| 5   Finnish Industry Investment Ltd |           |    666,666 |          3.82 |
--------------------------------------------------------------------------------
| 6   Finnish Cultural Foundation     |           |    236,000 |          1.35 |
--------------------------------------------------------------------------------
| 7   Bergholm Heikki                 |           |    230,516 |          1.32 |
--------------------------------------------------------------------------------
| 8   Laakkonen Mikko                 |           |    200,000 |          1.15 |
--------------------------------------------------------------------------------
| 9   Lehtonen Anna-Maria             |           |    178,823 |          1.02 |
--------------------------------------------------------------------------------
| 10 Kukkonen Jorma                   |           |    127,000 |          0.73 |
--------------------------------------------------------------------------------
| Nominee-registered shares           |           |    546,651 |          3.13 |
--------------------------------------------------------------------------------
| Other shareholders                  |           |  3,910,104 |         22.40 |
--------------------------------------------------------------------------------
| Total                               |           | 17,457,798 |        100.00 |
--------------------------------------------------------------------------------

The members of the Board of Directors own 32.1 % of the shares. All shares have 
equal voting rights.                                                            
If all the warrants were converted to shares, the holding of shares by the      
members of the Board of Directors would change to 31.7 %.                       


Helsinki, 19 October 2010                                                       

COMPONENTA CORPORATION                                                          
Board of Directors                                                              


Heikki Lehtonen                                                                 
President and CEO                                                               


Further information:                                                            

Heikki Lehtonen                                                                 
President and CEO                                                               
tel. +358 10 403 00                                                             

Mika Hassinen                                                                   
CFO                                                                             
tel. +358 10 403 00                                           
Componenta is a metal sector company with international operations and          
production plants located in Finland, Turkey, the Netherlands and Sweden. The   
net sales of Componenta were EUR 300 million in 2009. The Group employs approx. 
4,300 people. Componenta's shares are quoted on the NASDAQ OMX Helsinki.        
Componenta specializes in supplying cast and machined components and total      
solutions made of them to its global customers who are manufacturers of         
vehicles, machines and equipment.                                               
                            Componenta  Corporation                             
                                  Panuntie 4                                    
                           FI-00610 Helsinki, Finland                           
                              Tel. +358 10 403 00                               
                              Fax +358 10 403 2721                              
                              www.componenta.com