2016-02-16 09:08:28 CET
2016-02-16 09:08:28 CET
REGULATED INFORMATION
Asiakastieto Group Oyj - Financial Statement Release
Asiakastieto Group's Financial Statement Release 1.1. - 31.12.2015: Net sales increased regardless of reduced volume
Asiakastieto Group Plc, stock exchange release 16 FEBRUARY 2016, 10.00 A.m. EET
Asiakastieto Group's Financial Statement Release 1.1. - 31.12.2015: Net sales
increased regardless of reduced volume
SUMMARY
The figures presented in this financial statement release are based on audited
2015 financial statement.
October - December 2015 in short:
- Net sales amounted to EUR 11,4 million (EUR 10,5 million), an increase of
7,7 %.
- Adjusted EBIT excluding non-recurring and adjusted items was EUR 4,9 million
(EUR 5,0 million).
- Operating profit (EBIT) was EUR 4,9 million (EUR 4,3 million). Operating
profit included non- recurring expenses and adjusted items of EUR 0,0 million
(EUR 0,7 million).
- The share of new products and services of net sales was 9,0 % (8,0 %).
- The share of value-added services of net sales was 59,7 % (56,0 %).
- Free cash flow amounted to EUR 4,7 million (EUR 4,3 million). The impact of
non-recurring and adjusted items on free cash flow was EUR -0,0 million (EUR
-0,1 million).
- Earnings per share were EUR 0,24 (EUR 0,36).
Financial year 2015 in short:
- Net sales amounted to EUR 43,7 million (EUR 41,4 million), an increase of
5,6 %.
- Adjusted EBIT excluding non-recurring and adjusted items was EUR 18,3 million
(EUR 18,6 million).
- Operating profit (EBIT) was EUR 15,8 million (EUR 17,6 million). Operating
profit included non-recurring expenses and adjusted items of EUR 2,5 million
(EUR 1,0 million), mostly relating to the Company's listing.
- The share of new products and services of net sales was 7,6 % (6,7 %).
- The share of value-added services of net sales was 59,4 % (56,1 %).
- Free cash flow amounted to EUR 13,8 million (EUR 16,8 million). The impact of
non-recurring and adjusted items on free cash flow was EUR -2,9 million (EUR
-0,3 million).
- Earnings per share were EUR 0,76 (EUR -0,14).
Future outlook
Asiakastieto Group expects the net sales to grow at the same rate in 2016 as in
2015. The adjusted euro-denominated operating profit is expected to slightly
increase from last year, despite the new rental cost for 2016 caused by the
eventual realisation of office premises.
JUKKA RUUSKA, CEO
"The high demand for value-added services boosted Asiakastieto Group's sales in
2015, although the total volume of services decreased due to economic situation
in Finland. The growth of 5,6 % in net sales was also based on the customers'
further increasing interest in the company's new services. The share of
Asiakastieto Group's new services of the net sales is exceptionally high in the
line of business, even internationally, and it increased further, being 7,6 %
(6,7 %) for the whole year. The net sales grew in all product areas and totalled
EUR 43,7 million (EUR 41,4 million).
The adjusted EBIT without non-recurring and adjusted items amounted to EUR 18,3
million (EUR 18,6 million). The strong growth in real estate information
services was reflected as a considerable increase in data acquisition costs,
which in its part had an impact on the decrease in the adjusted operating
profit.
In 2016 Asiakastieto Group will continue its determined service development
supporting the digitalization tendencies of its customers. We believe that the
share of automatically produced services in the customers' credit granting and
customer management processes will considerably grow in Finland, which supports
the demand for our advanced processed services also in the future.
Suomen Asiakastieto Oy has signed in December 2015 a sales agreement of its
current office premises. The agreement will become effective in the spring
2016. In the same connection the Group will hire its current premises for
approximately two years, after which it will move as a leaseholder to premises
to be built. If the contract of sale of shares in the premises owned by the
company is realised, additional cash flow enables an extra dividend
distribution."
KEY FIGURES
Key income
statement and
cash
flow figures
and ratios 1.10. - 1.10. - 1.1. - 1.1. -
EUR million 31.12.2015 31.12.2014 31.12.2015 31.12.2014
-------------------------------------------------------------------------------
Net sales 11,4 10,5 43,7 41,4
Growth of net
sales, %(1) 7,7 3,3 5,6 0,1
EBITDA 5,4 4,8 18,0 19,7
Operating
profit (EBIT) 4,9 4,3 15,8 17,6
Adjusted
EBITDA(2) 5,4 5,5 20,5 20,6
Adjusted EBITDA
margin, %(2) 47,5 51,9 47,0 49,8
Adjusted
EBIT(2) 4,9 5,0 18,3 18,6
Adjusted EBIT
margin, %(2) 42,7 47,2 41,8 45,0
Net sales from
new products
and services 1,0 0,8 3,3 2,8
New products
and services
share of net
sales, % 9,0 8,0 7,6 6,7
Net sales from
value-added
services 6,8 5,9 26,0 23,2
Value-added
services share
of net sales, % 59,7 56,0 59,4 56,1
Free cash
flow(3) 4,7 4,3 13,8 16,8
Cash
conversion,
%(3) 86,6 90,2 76,5 85,3
Key balance
sheet ratios 1.10. - 1.10. - 1.1. - 1.1. -
EUR million 31.12.2015 31.12.2014 31.12.2015 31.12.2014
-------------------------------------------------------------------------------
Net debt to
adjusted
EBITDA, x 2,2 2,9 2,4 3,0
Gearing, % 62,1 95,8 62,1 95,8
Equity ratio, % 50,9 46,7 50,9 46,7
(____________________________________________________________________)
(1 )The growth of net sales for periods from 1 October to 31 December 2014 and
1 January to 31 December 2014 has been calculated by comparing the net sales of
the period to the net sales in the comparative period in 2013.
(2 )Adjusted key figures are adjusted by following items: management fees which
the Company has paid to Investcorp, the former owner of the Company, until the
listing of the Company for certain ongoing advisory services, costs relating to
the listing, an expense relating to the discount given to the personnel in the
personnel offering, fees for legal and other advisory services, redundancy
payments and compensations paid. The above listed adjusted items were EUR -0,0
million for the fourth quarter 1 October - 31 December 2015, EUR -0,7 million
for the comparative period 1 October - 31 December 2014, EUR -2,5 million for
the financial year 2015 and EUR -1,0 million for the financial year 2014.
(3 )The impact of adjusted items on free cash flow was EUR -0,0 million for the
fourth quarter 1 October - 31 December 2015, EUR -0,1 million for the
comparative period 1 October - 31 December 2014, EUR -2,9 million for the
financial year 2015 and EUR -0,3 million for the financial year 2014.
BUSINESS OVERVIEW
Asiakastieto Group Plc (the "Company") is a Finnish public limited liability
company and the parent company for Asiakastieto Group ("Asiakastieto Group" or
the "Group"). Suomen Asiakastieto Oy is the operating company in the group.
Asiakastieto Group is one of the leading Finnish providers of business and
consumer information services. The Group's products and services are primarily
used for risk management, finance and administration, decision-making and sales
and marketing purposes. The Group serves several industries, the largest ones
including finance and banking as well as wholesale and retail sectors and expert
services with an increased share.
The services provided by the Group are based on a comprehensive database which
combines data gathered from several public data sources as well as through the
Group's own data acquisition channels. The database provides a base for the
Group's services ranging from individual reports to advanced risk management
solutions.
The Group's products and services are divided into four product areas:
1. Business Information: Risk management and general business information
services which are mainly used by businesses serving corporate customers.
2. Consumer Information: Risk management information and services on private
individuals and real estates. The products and services of Consumer Information
are mainly used by businesses serving consumer customers.
3. Customer Management: Services for the prospecting of potential customers as
well as for other sales and marketing purposes. The products and services of
Customer Management are mainly used by businesses serving corporate customers.
4. Certificates and Analyses: Credit rating certificates, company and industry
analyses, and printed products concerning risk management information.
FUTURE OUTLOOK
Asiakastieto Group expects the net sales to grow at the same rate in 2016 as in
2015. The adjusted euro-denominated operating profit is expected to slightly
increase from last year, despite the new rental cost for 2016 caused by the
eventual realisation of office premises.
The outlook is subject to risks related to, among other factors, the development
of the Finnish economy and the business operations of the Group. The most
significant risks related to business operations include, for example, risks
related to the success of product and service development activities, launches
of new products and services and risks related to competitive tenders and to
losing significant customer accounts.
Asiakastieto Group's business risks have been described in more detail on the
Company's investor pages at investors.asiakastieto.fi.
Helsinki, on 16 February 2016
ASIAKASTIETO GROUP PLC
Board of Directors
For further information:
Jukka Ruuska, CEO
Asiakastieto Group Plc
tel. +358 10 270 7111
Distribution:
Nasdaq Helsinki Ltd
major media
investors.asiakastieto.fi
[HUG#1986373]
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