2012-04-26 07:30:00 CEST
2012-04-26 07:30:14 CEST
REGULATED INFORMATION
Teleste - Interim report (Q1 and Q3)
TELESTE CORPORATION INTERIM REPORT 1 JANUARY TO 31 MARCH 2012
Turku, Finland, 2012-04-26 07:30 CEST (GLOBE NEWSWIRE) --
TELESTE CORPORATION INTERIM REPORT 26 APRIL 2012 AT 08:30
TELESTE CORPORATION INTERIM REPORT 1 JANUARY TO 31 MARCH 2012
A SIGNIFICANT IMPROVEMENT IN GROWTH AND PROFITABILITY
Q1 of 2012
- Orders received increased by 22.1% and were EUR 49.1 (40.2) million
- Net sales increased 23.8% to EUR 51.1 (41.3) million
- Operating profit grew by 441.9% equaling EUR 2.9 (0.5) million
- Undiluted result per share stood at EUR 0.12 (EUR 0.02)
- Orders received by Video and Broadband Solutions increased by 51.0% from the
comparative period (Q1/2011), and equaled EUR 26.4 (17.5) million
- Orders received by Network Services were at par with the comparative period,
i.e. EUR 22.7 (22.8) million
- Operating cash flow stood at EUR 5.0 (-1.0) million
Key figures (EUR million) 1-3/2012 1-3/2011 Change% 1-12/2011
---------- -------- --------- ---------
Orders received 49.1 40.2 22.1% 188.1
Net sales 51.1 41.3 23.8% 183.6
Operating profit 2.9 0.5 441.9% 9.4
Operating profit, % 5.7% 1.3% 5.1%
Net profit 2.0 0.3 622.4% 6.3
---------- -------- ------- ---------
Other important key figures
Earnings per share, EUR 0.12 0.02 622.4% 0.36
Cash flow from operations 5.0 -1.0 n/a 2.1
Net gearing, % 23.8% 30.6% -22.3% 32.20%
Equity ratio, % 43.5% 43.9% -0.9% 41.6%
Personnel at period-end 1,321 1,266 4.3% 1,310
Outlook for 2012
We estimate the 2012 net sales and operating profit to increase from the level
of 2011.
Comments on Q1 of 2012 by CEO Jukka Rinnevaara"On the whole, the early year was good and the development of our key financial
indicators was highly positive in the first quarter. The demand for equipment
supplied by Video and Broadband Solutions grew significantly over the
comparative period. New video services such as video-on-demand and Internet TV
increased the need for cable network capacity. We estimate that the major
sporting events scheduled for the summer of 2012 had a positive effect on the
demand for our network products.
Deliveries by Network Services increased to some degree. Operating profit
improved over the comparative period. The development program for the German
services operations began to pay off and we will press on with the improvement
measures to further enhance profitability. Profitability of the fiber projects
was weakened by cost overruns related to sub-contracting."
Group Operations in January to March 2012
The year-on-year demand in our target markets for network products provided by
Teleste grew significantly. Digitization of cable networks continued and
operators increased their service offerings. The first-quarter orders received
by Teleste Corporation increased by 22.1% and stood at EUR 49.1 (40.2) million.
The year-on-year order backlog grew by 27.9% and totaled EUR 19.2 (15.0)
million.
Net sales grew by 23.8% amounting to EUR 51.1 (41.3) million. With the increase
in net sales, operating profit increased by 441.9% to EUR 2.9 (0.5) million, or
5.7% (1.3%) of net sales. The year-on-year materials margin improved by 2.1
percentage points, which was mainly caused by the increased share of net sales
brought in by Video and Broadband Solutions in relative terms.
Wages and salaries increased by 20.8% over the comparative period and totaled
EUR 15.1 (12.5) million. This increase was mainly due to growth in the number
of personnel and accruals of remuneration schemes. Financial expenses totaled
EUR 0.1 (0.2) and taxes 0.8 (0.1) million. The Group's tax rate was 28.1%
(28.0%). Undiluted result per share was EUR 0.12 (0.02).
Video and Broadband Solutions in January to March 2012
Economic Development of Video and Broadband Solutions:
Q1/2012 Q1/2011 Change% 1-12/2011
------------ ----------- ---------- -----------
Orders received 26,390 17,473 51.0% 93,274
Net sales 27,500 18,554 48.2% 89,716
Operating profit 2,524 406 521.7% 8,220
Operating profit, % 9.2% 2.2% 9.2%
Orders received improved by 51.0% standing at EUR 26.4 (17.5) million. Order
backlog totaled EUR 19.2 (15.0) million.
Net sales grew by 48.2% amounting to EUR 27.5 (18.6) million. In particular,
net sales of optical network equipment and amplifiers increased from the
comparative period. Deliveries of the Luminato headend were at par with the
comparative period.
Operating profit stood at EUR 2.5 (0.4) million making 9.2% (2.2%) of net
sales. This improvement in the operating profit can mainly be attributed to
increased net sales.
Research and development expenses were 2.8 (2.8) million, or 10.2% (15.2%) of
the business area's net sales. Approximately one half of the R&D expenses
involved further development and maintenance of the product platforms in
production as well as customer-specific product applications. EUR 0.3 (0.5)
million of the R&D expenses were activated for the Luminato video processing
system. Depreciation on activated R&D expenses amounted to EUR 0.5 (0.5)
million.
Network Services in January to March 2012
Economic Development of Network Services:
Q1/2012 Q1/2011 Change% 1-12/2011
--------- ---------- ----------- ------------
Orders received 22,731 22,756 -0.1% 94,800
Net sales 23,631 22,756 3.8% 93,900
Operating profit 413 136 203.7% 1,160
Operating profit, % 1.7% 0.6% 1.2%
Orders received in Q1 stood at EUR 22.7 (22.8) million. Net sales grew by 3.8%
amounting to EUR 23.6 (22.8) million.
Operating profit stood at EUR 0.4 (0.1) million making 1.7% (0.6%) of net
sales. This favorable development in the operating profit was mainly brought
about by increased net sales and improvement in the materials margin.
The turnaround profitability program in Germany progressed as planned and will
continue with regard to, amongst others, information system projects.
Profitability of the fiber projects was weakened by cost overruns related to
sub-contracting.
Personnel and Organization
In the period under review, the Group had an annual average of 1,316 people
(1,252/2011 1,221/2010), of whom 560 (558) were employed by Video and Broadband
Solutions, and 756 (694) by Network Services. At the end of the review period,
the figure totaled 1,321 (1,266/2011, 1,223/2010) of whom 72% (70%/2011,
68%/2010) were stationed overseas. Employees stationed outside Europe accounted
for less than 5% of the Group's personnel.
The year-on-year employee benefits expenses increased by 20.8% and totaled EUR
15.1 (12.5/January to March/2011, 12.3/January to March/2010) million. This
growth in labor costs was attributable to factors such as increase in the
number of personnel employed by Network Services and accruals of remuneration
schemes.
The number of rented workforce in the Finnish production averaged 32 (0)
people. Costs involving rented workforce have been entered under the material
costs.
Investments
Investments by the Group for the period under review totaled EUR 1.4 (1.6)
million accounting for 2.7% (4.0%) of net sales. Investments in product
development equaled EUR 0.3 (0.5) million. Other investments involved
information systems, production machinery and equipment as well as equipment
for the services business. As to investments for the period, EUR 0.6 (0.1)
million was carried out by means of financial leasing.
Financing and Capital Structure
Operating cash flow stood at EUR 5.0 (-1.0) million. At the end of the period
under review, the amount of unused binding stand-by credits amounted to EUR
10.5 (13.5) million. The current binding stand-by credits of EUR 40.0 million
run till November 2013.
The Group's equity ratio equaled 43.5% (43.9%) and net gearing 23.8% (30.6%).
Interest bearing debt on 31 March 2012 stood at EUR 30.7 (27.6) million.
Essential Operational Risks of Business Areas
Founded in 1954, Teleste is a technology and services company consisting of two
business areas: Video and Broadband Solutions and Network Services. With Europe
as the main market area, our most significant clients include European cable
operators and selected organizations in the public sector.
As to Video and Broadband Solutions, client-specific and integrated deliveries
of solutions create favorable conditions for growth, even if the involved
resource allocation and technical implementation pose a challenge involving,
therefore, also reasonable risks. Network investments carried out by the
clients vary based on their need for upgrading and their capital structure.
Many competitors of the business area come from the USA so the exchange rate of
euro up against the US dollar affects our competitiveness. Also the exchange
rate development of the Chinese renminbi to euro affects our material costs.
The company hedges against short-term currency exposure by means of forward
contracts. The tight financial market in Europe may slow down the
implementation of our customers' investment plans. Availability of components
is subject to natural phenomena, such as floods and earthquakes. Correct
technological choices and their timing are vital for our success.
Net sales for Network Services comes, for the most part, from a small number of
large European customers, so a significant change in the demand for services by
any one of them is reflected in the actual deliveries. To ensure quality of
services and cost-efficiency along with efficient service process management,
customer satisfaction and improvements in productivity require innovative
solutions in terms of processes, products and logistics. Smooth operation of
cable networks requires effective technical management and functional hardware
solutions in accordance with contractual obligations. This, in turn, demands
continuous and determined development of skill levels in Teleste's own
personnel as well as those of our subcontractors. In addition, availability of
capacity in our network of subcontractors may limit our ability to supply.
It is important for our business areas to take into account any market
developments such as consolidations taking place among the clientele and
competition. The threats to information systems must be minimized to ensure
business continuity. Severe weather conditions have an impact on the business
areas' ability to deliver products and services.
The Board of Directors annually reviews any essential risks related to the
company operation and the management thereof. Risk management constitutes an
integral part of the strategic and operative practices of our business areas.
Risks and their probability are reported to the Board by regular monthly
reports.
The company has covered any major risks of loss related to the business areas
through insurance policies. These insurances do not cover credit loss risks. In
the period under review, no such risks materialized, and no such legal
proceedings or judicial procedures were pending that would have had any
essential significance for the Group operation.
Group Structure
Parent company Teleste has branch offices in Australia, the Netherlands, China
and Denmark with subsidiaries in 12 countries outside Finland. On account of
financial arrangements, Teleste Management Oy, established in March 2010, and
Teleste Management II Oy, established in December 2011, have been consolidated
into Teleste Corporation's figures.
Decisions by the Annual General Meeting
The Annual General Meeting (AGM) of Teleste Corporation held on 3 April 2012
confirmed the financial statements for 2011 and discharged the Board of
Directors and the CEO from liability for the financial period. The AGM
confirmed the dividend of EUR 0.14 per share proposed by the Board. The
dividend was paid out on 17 April 2012.
Ms. Marjo Miettinen, Mr. Pertti Ervi, Mr. Pertti Raatikainen, Mr. Kai Telanne
and Mr. Petteri Walldén continue in Teleste's Board of Directors. Mr. Esa Harju
was elected a new member while the membership of Mr. Tero Laaksonen ended. Ms.
Marjo Miettinen was elected Chair of the Board in the organizational meeting
held immediately after the AGM.
Authorized Public Accountants KPMG Oy Ab continue as the auditor until the next
AGM. Mr. Esa Kailiala, accountant authorized by the Central Chamber of Commerce
of Finland, was chosen auditor-in-charge.
The AGM authorized the Board to acquire the maximum of 1,400,000 of the
company's own shares and to convey the maximum of 1,779,985 company's own
shares. On 8 April 2011, the AGM authorized the Board of Directors to issue
5,000,000 new shares; this authorization will be valid until the Annual General
Meeting of 2014. Pursuant to the special rights provided by the Company, the
maximum number of significant shares is 2,500,000; these special rights are
included in the authorization to issue 5,000,000 new shares.
Shares and Changes in Share Capital
On 31 March 2012, EM Group Oy was the largest single shareholder with a holding
of 21.08%.
In the period under review, the lowest company share price was EUR 3.04 (4.02)
and the highest was EUR 4.44 (4.82). Closing price on 31 March 2012 stood at
EUR 4.20 (4.41). According to Euroclear Finland Ltd the number of shareholders
at the end of the period under review was 5,089 (5,232). Foreign ownership
accounted for 8.2% (8.1%). From 1 January to 31 March 2012, trading with
Teleste share at NASDAQ OMX Helsinki amounted to EUR 2.2 (2.2) million. In the
period under review, 0.6 (0.5) million Teleste shares were traded on the stock
exchange.
At the end of March 2012, the number of own shares in the Group possession
stood at 1,302,985 (760,985) out of which parent company Teleste Corporation
had none (0) while other Group or controlled companies had 1,302,985 shares,
respectively. At the end of the period, the Group's holding of the total amount
of shares amounted to 6.96% (4.18%).
On 31 March 2012, the registered share capital of Teleste stood at EUR
6,966,932.80 divided in 18,728,590 shares.
Trading with stock options 2007B and 2007C on the NASDAQ OMX Helsinki Ltd began
on 2 April 2012. These options allow subscription of a maximum of 560,000
Teleste shares.
Outlook for 2012
We estimate that deliveries of equipment and solutions for the operator
clientele of Video and Broadband Solutions will increase from the 2011 level.
European telecom operators are about to launch their investments into the TV
distribution infrastructure, and we believe that our video headend and optical
network products will be competitive in this new emerging market. Also, the
network capacity will continue to increase driven by the new video services
provided by the operators. The big sports events to be held in summer 2012 may
slow down the upgrading of networks in the second and third quarters.
On the annual basis, demand by our current clientele for the services provided
by Network Services will remain relatively stable. In the main market area of
Germany, we expect profitability to improve from the 2011 level with the
gradual introduction of the efficiency measures.
We estimate the 2012 net sales and operating profit to increase from the level
of 2011.
25 April 2012
Teleste Corporation Jukka Rinnevaara
Board of Directors President and CEO
This interim report has been compiled in compliance with IAS 34, as it is
accepted within EU, using the recognition and valuation principles with those
used in the Annual Report. The data stated in this report is unaudited.
STATEMENT OF COMPREHENSIVE INCOME 1-3/2012 1-3/2011 Change % 1-12/2011
(TEUR)
Net Sales 51,130 41,310 23.8% 183,616
Other operating income 332 412 -19.4% 2,112
Materials and services -25,854 -21,791 18.6% -90,990
Personnel expenses -15,084 -12,486 20.8% -54,560
Other operating expenses -6,210 -5,555 11.8% -25,426
Depreciation -1,377 -1,348 2.2% -5,372
Operating profit 2,937 542 441.9% 9,380
Financial income and expenses -137 -155 -11.6% -541
Profit after financial items 2,800 387 623.5% 8,839
Profit before taxes 2,800 387 623.5% 8,839
Taxes -787 -108 626.3% -2,540
Net profit 2,013 279 622.4% 6,299
Attributable to:
Equity holders of the parent 2,013 279 622.4% 6,299
Earnings per share for result of the year
attributable
to the equity holders of the parent
(expressed in EUR per share)
Basic 0.12 0.02 622.4% 0.36
Diluted 0.11 0.02 622.7% 0.36
Total comprehensive
income for the period (tEUR)
Net profit 2,013 279 622.4% 6,299
Translation differences 269 -84 n/a 149
Fair value reserve 14 108 -87.0% 20
Total comprehensive income for the 2,296 303 658.6% 6,468
period
Attributable to:
Equity holders of the parent 2,296 303 658.6% 6,468
STATEMENT OF FINANCIAL POSITION 31.3.2012 31.3.2011 Change 31.12.2011
(TEUR) %
Non-current assets
Property,plant,equipment 10,261 9,512 7.9% 9,364
Goodwill 31,131 30,959 0.6% 31,277
Intangible assets 5,784 6,301 -8.2% 6,338
Deferred tax assets 1,910 n/a n/a 1,714
Investments 710 713 -0.4% 713
49,796 47,485 4.9% 49,406
Current assets
Inventories 23,075 19,170 20.4% 24,075
Other current assets 43,143 37,579 14.8% 44,326
Liquid funds 16,942 12,023 40.9% 15,404
83,160 68,772 20.9% 83,805
Total assets 132,956 116,257 14.4% 133,211
Shareholder's equity and liabilities
Share capital 6,967 6,967 0.0% 6,967
Other equity 50,057 43,500 15.1% 47,688
Non-controlling interest 605 292 107.2% 623
57,629 50,759 13.5% 55,278
Non-current liabilities
Provisions 605 511 18.4% 605
Deferred tax liabilities 2,071 511 305.3% 1,946
Non interest bearing liabilities 4,015 3,925 2.3% 4,140
Interest bearing liabilities 12,347 11,847 4.2% 11,940
19,038 16,794 13.4% 18,631
Short-term liabilities
Trade payables and other s-t 36,775 31,686 16.1% 36,818
liabilities
Provisions 1,211 1,313 -7.8% 1,211
S-t interest bearing liabilities 18,303 15,705 16.5% 21,273
56,289 48,704 15.6% 59,302
Total shareholder's equity and 132,956 116,257 14.4% 133,211
liabilities
CONSOLIDATED CASH FLOW STATEMENT (TEUR) 1-3/201 1-3/201 Change 1-12/201
2 1 % 1
Cash flows from operating activities
Profit for the period 2,013 279 622.4% 6,299
Adjustments 2,355 1,665 41.4% 8,633
Interest and other financial expenses -137 -155 -11.6% -541
and incomes
Paid taxes -987 -1,050 -6.0% -2,471
Change in working capital 1,710 -1,755 n/a -9,857
Cash flow from operating activities 4,954 -1,016 n/a 2,063
Cash flow from investing activities
Acquisition of subsidiary, net of cash 300 0 n/a 0
acquired
Purchases of property, plant and -582 -991 -41.3% -2,632
equipment (PPE)
Purchases of intangible assets -280 -551 -49.2% -2,729
Net cash used in investing activities -562 -1,542 -63.6% -5,361
Cash flow from financing activities
Proceeds from borrowings 0 0 n/a 6,000
Payments of borrowings -3,123 -538 480.5% -877
Dividends paid 0 0 n/a -2,091
Proceeds from issuance of ordinary 0 0 n/a 319
shares
Net cash used in financing activities -3,123 -538 480.5% 3,351
Change in cash
Cash in the beginning 15,404 15,203 1.3% 15,203
Effect of currency changes 269 -84 n/a 149
Cash at the end 16,942 12,023 40.9% 15,404
KEY FIGURES 1-3/2012 1-3/2011 Change % 1-12/2011
Earnings per share, EUR 0.12 0.02 622.4% 0.36
Earnings per share fully diluted, 0.11 0.02 622.7% 0.36
EUR
Shareholders' equity per share, EUR 3.31 2.91 13.6% 3.17
Return on equity 14.30% 2.20% 547.6% 11.90%
Return on capital employed 13.60% 2.80% 391.1% 11.50%
Equity ratio 43.50% 43.90% -0.9% 41.60%
Gearing 23.80% 30.60% -22.3% 32.20%
Investments, tEUR 1,374 1,643 -16.4% 5,240
Investments % of net sales 2.70% 4.00% -32.4% 2.90%
Order backlog, tEUR 19,191 15,009 27.9% 21,200
Personnel, average 1,316 1,252 5.1% 1,297
Number of shares (thousands) 18,729 18,187 3.0% 18,190
including own shares
Highest share price, EUR 4.44 4.82 -7.9% 4.82
Lowest share price, EUR 3.04 4.02 -24.4% 2.5
Average share price, EUR 3.98 4.54 -12.3% 3
Turnover, in million shares 0.6 0.5 18.8% 1.7
Turnover, in MEUR 2.2 2.2 3.7% 6.2
Treasury shares
Number % of % of
of shares shares votes
Teleste companies own shares 1,302,985 6.96% 6.96%
31.3.2012
Contingent liabilities and pledged
assets (tEUR)
For own debt
Other securities 0 640 n/a 0
Leasing and rent liabilities 8,594 6,949 23.7% 8,124
8,594 7,589 13.2% 8,124
Derivative instruments (tEUR)
Value of underlying forward 8,054 4,709 71.0% 7,434
contracts
Market value of forward contracts -220 -239 -7.9% -99
Interest rate swap 11,500 11,500 0.0% 11,500
Market value of interest swap -152 -116 31.0% -167
Taxes are computed on the basis of the tax on the profit
for the period.
OPERATING SEGMENTS (TEUR) 1-3/2012 1-3/2011 Change % 1-12/2011
Video and Broadband Solutions
Order intake 26,390 17,473 51.0% 93,274
Net sales 27,500 18,554 48.2% 89,716
EBIT 2,524 406 521.7% 8,220
EBIT% 9.20% 2.20% 319.4% 9.20%
Network Services
Order intake 22,731 22,756 -0.1% 94,800
Net sales 23,631 22,756 3.8% 93,900
EBIT 413 136 203.7% 1,160
EBIT% 1.7% 0.6% 192.4% 1.2%
Total
Order intake 49,121 40,229 22.1% 188,074
Net sales 51,130 41,310 23.8% 183,616
EBIT 2,937 542 441.9% 9,380
EBIT% 5.7% 1.3% 337.8% 5.1%
Financial items -137 -155 -11.6% -541
Operating segments net profit before 2,800 387 623.5% 8,839
taxes
Information per quarter 1-3/12 10-12/11 7-9/11 4-6/11 1-3/11 4/2011-3/2012
(TEUR)
Video and Broadband Solutions
Order intake 26,390 28,674 22,300 24,827 17,473 102,191
Net sales 27,499 27,698 23,947 19,517 18,554 98,661
EBIT 2,524 3,062 3,420 1,332 406 10,338
EBIT % 9.2% 11.1% 14.3% 6.8% 2.2% 10.5%
Network Services
Order intake 22,731 24,797 21,503 25,744 22,756 94,775
Net sales 23,631 25,735 23,013 22,396 22,756 94,775
EBIT 413 1,070 376 -422 136 1,437
EBIT % 1.7% 4.2% 1.6% -1.9% 0.6% 1.5%
Total
Order intake 49,121 53,471 43,803 50,571 40,229 196,966
Net sales 51,130 53,433 46,960 41,913 41,310 193,436
EBIT 2,937 4,132 3,796 910 542 11,775
EBIT % 5.7% 7.7% 8.1% 2.2% 1.3% 6.1%
Attribut-able to equity holders of the parent (tEUR)
A B C D E F G H I
Shareholder's 6,967 1,504 54 43,559 2,737 -166 54,655 623 55,278
equity 1.1.2012
Total 269 2,013 14 2,296 0 2,296
comprehensive
income for the
period
Equity-settled 73 0 0 73 -18 55
share-based
payments
Shareholder's 6,967 1,504 323 45,645 2,737 -152 57,024 605 57,629
equity 31.3.2012
Shareholder's 6,967 1,504 -95 39,183 2,737 -186 50,110 292 50,402
equity 1.1.2011
Profit of the -84 279 108 303 0 303
period
Equity-settled 54 0 0 54 0 54
share-based
payments
Shareholder's 6,967 1,504 -179 39,516 2,737 -78 50,467 292 50,759
equity 31.3.2011
A Share capital
B Share premium
C Translation differences
D Retained earnings
E Invested free capital
F Other funds
G Total
H Share of non controlling interest
I Total equity
CALCULATION OF KEY FIGURES
Return on equity: Profit/loss for the financial period
------------------------------ * 100
Shareholders' equity (average)
Return on capital Profit/loss for the period after financial items +
employed: financing charges
------------------------------ * 100
Total assets - non-interest-bearing
liabilities (average)
Equity ratio: Shareholders' equity
----------------------------- * 100
Total assets - advances received
Gearing: Interest bearing liabilities - cash in hand and in bank -
interest bearing assets
----------------------------- * 100
Shareholders' equity
Earnings per share: Profit for the period attributable to equity holder of
the parent
----------------------------------------------
Weighted average number of ordinary shares outstanding
during the period
Earnings per share, Profit for the period attributable to equity holder of
diluted: the parent (diluted)
-----------------------------------------------
Average number of shares - own shares + number of options
at the period-end
Major shareholders 31.3.2012 Shares %
EM Group Oy 3,948,513 21.08
Mandatum Life 1,679,200 8.97
Ilmarinen Mutual Pension Insurance Company 936,776 5.00
Kaleva Mutual Pension Insurance Company 824,641 4.40
Teleste Management II Oy 542,000 2.89
Varma Mutual Pension Insurance Company 521,150 2.78
Op-Suomi Small Cap 520,620 2.78
State Pension Fund 500,000 2.67
Aktia Capital Mutual Fund 450,000 2.40
Skagen Vekst Verdipapierfond 429,000 2.29
Sector Dispersion 31.3.2012 Shareholders % Shares %
Corporations 285 5.60 6,474,758 34.57
Financial and insurance corporations 10 0.19 3,541,641 18.91
Public institutions 8 0.15 2,327,926 12.42
Non-profit institutions 36 0.70 370,589 1.97
Households 4,701 92.37 4,477,260 23.90
Foreign countries and nominee 49 0.96 1,536,416 8.20
registered
Total 5,089 100.00 18,728,590 100.00
Amount 31.3.2012 Shareholders % Shares %
0 - 100 1,122 22.04 77,166 0.41
101 - 1,000 2,978 58.51 1,261,810 6.73
1,001 - 10,000 895 17.58 2,529,714 13.50
10,001 - 100,000 73 1.43 1,801,453 9.61
100,001 - 1,000,000 19 0.37 7,430,734 39.67
1,000,001 - 2 0.03 5,627,713 30.04
Total 5,089 100.00 18,728,590 100.00
ADDITIONAL INFORMATION:
CEO Jukka Rinnevaara, phone: +358 2 2605 866 or +358 400 747 488
DISTRIBUTION:
Nasdaq OMX Helsinki
Main Media
www.teleste.com
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