|
|||
2011-08-09 07:30:00 CEST 2011-08-09 08:09:54 CEST REGULATED INFORMATION Innofactor Oyj - Interim report (Q1 and Q3)Innofactor Plc's interim report for January 1 - June 30, 2011 (IFRS)Innofactor Plc Stock Exchange Release August 9, 2011 at 8:30 Finnish time Summary Innofactor group's key figures for April 1 - June 30, 2011: -- Net sales EUR 4,360 thousand (2010: 2,148), increase of 103.0% -- Earnings before interest, taxes, depreciation and amortization (EBITDA), EUR 275* thousand (2010: 78), increase of 252.6% -- EBITDA percentage 6.3%* (2010: 3.6%) -- Earnings before interest and taxes (EBIT) EUR 142* thousand (2010: 8) -- EBIT percentage 3.3%* (2010: 0.4%) Innofactor group's key figures for January 1 - June 30, 2011: -- Net sales EUR 8,303 thousand (2010: 4,358), increase of 90.5% -- Earnings before interest, taxes, depreciation and amortization (EBITDA), EUR 425* thousand (2010: 426), decrease of 0.2% -- EBITDA percentage 5.1%* (2010: 9.8%) -- Earnings before interest and taxes (EBIT) EUR 161* thousand (2010: 287) -- EBIT percentage 1.9%* (2010: 6.6%) * The figures include one-off costs related to the relisting and the combination of shares to the amount of about EUR 200 thousand during January 1 - March 31, 2011 and to the amount of about EUR 100 thousand during April 1 - June 30, 2011. The future outlook for Innofactor remains the same. The group's net sales for 2011 are expected to be about EUR 17 million, which will be an increase of about 70% on 2010. In addition, earnings before interest, taxes, depreciation and amortization (EBITDA) are expected to be higher both in euros and in percentage than in 2010 (2010: EUR 979 thousand and 9.9%) Key figures of the group The figures presented in this interim report have not been audited. mo. 4-6 mo. 4-6 Change mo. 4-6 mo. 4-6 Change mo. 4-6 /2011 /2010 /2011 /2010 /2010 -------------------------------------------------------------------------------- -- -------------------------------------------------------------------------------- -- Net 4,360 2,148 +103.0 8,303 4,358 +90.5% 9,862 sales % , EUR thous and Earnin 275 78 +252.6 425 426 -0.2% 979 gs % befor e inter est, taxes , depre ciatio n and amort izatio n (EBIT DA), EUR thous and* percen 6.3% 3.6% 5.1% 9.8% 9.9% tage of net sales * Earnin 142 8 +1 161 287 -43.9% 702 gs 675.0 befor % e inter est and taxes (EBIT ), EUR thous and* percen 3.3% 0.4% 1.9% 6.6% 7.1% tage of net sales * Earnin 139 7 +1 155 285 -45.6% 696 gs 885.7 befor % e taxes , EUR thous and* percen 3.2% 0.3% 1.9% 6.5% 7.1% tage of net sales * Earnin 108 5 +2 121 207 -41.5% 505 gs, 060.0 EUR % thous and* percen 2.5% 0.2% 1.5% 4.7% 5.1% tage of net sales * Equity 12,399 2,328 +432.6 12,399 2,328 +432.6 12,278 , EUR % % thous and Return 3.5% 0.8% 1.9% 16.8% 6.8% on equit y** Return 4.6% 1.4% 2.6% 23.3% 9.7% on inves tment* * Net -6.1% -19.4% -6.1% -19.4% -14.0% geari ng Equity 75.6% 51.9% 75.6% 51.9% 68.6% ratio Balanc 17,967 4,811 +273.5 17,967 4,811 +273.5 19,517 e % % sheet total , EUR thous and Resear 654 1,246 1,173 ch and devel opment , EUR thous and*** percen 15.0% 15.0% 11.9% tage of net sales *** Person 175 102 +71.6% 173 95 +82.1% 108 nel on avera ge durin g the revie w perio d Person 185 144 +28.5% 185 144 +28.5% 171 nel at the end of the revie w perio d Number 29,261 800 19,314 925 +51.5% 29,261 800 19,314 925 +51.5% 29,261 849 of share s at the end of the revie w perio d**** Earnin 0.0037 0.0003 +1,133 0.0041 0.0121 -66.1% 0.0274 gs per .3% share (EUR) **** Shareh 0.424 0.121 +250.4 0.424 0.121 +250.4 0.420 olders % % ' equit y per share (EUR) **** -------------------------------------------------------------------------------- -- * The figures include one-off costs of related to the relisting and the combination of shares to the amount of about EUR 200 thousand during January 1 - March 31, 2011 and to the amount of about EUR 100 thousand during April 1 - June 30, 2011. ** The return on equity and the return on investment as percentages have been adjusted to correspond with the 12-month period. **** There are no comparison data for the corresponding review period in as Innofactor did not draft comparable interim reports in 2010 due to the reverse acquisition in accordance with IFRS 3. **** The number of shares before December 27, 2010 presented in the table has been calculated from the number of Innofactor Oy shares due to the reverse acquisition in accordance with IFRS 3. In accordance with the decision of the Innofactor Plc's Annual General Meeting on April 28, 2011, twenty old shares were consolidated into one new share (registered in the Trade Register on May 7, 2011) which reduced the total number of shares to 1/20 of the previous number. The key figures presented in the table have been adjusted to correspond with the current number of shares. Reporting Innofactor Plc operates on a single segment and mainly in Finland, offering software, systems and related services. No distribution of net sales or earnings by segment or geographical area is therefore presented. CEO Sami Ensio's review: During April 1 - June 30, 2011, Innofactor's net sales grew by 103.0% from the corresponding period last year. This increase was largely based on acquisitions made in 2011, and about 34% of the increase was organic growth. Growth for the whole year is expected to be about 70%. Research and development continued to focus on new versions of old products and Innofactor's first cloud solutions in particular. Research and development costs recognized in the profit and loss statement were EUR 654 thousand during April 1 - June 30, 2011 (there is no comparison figure available for the same period in 2010; total research and development costs in 2010 were EUR 1,173 thousand). Earnings before interest, taxes, depreciation and amortization (EBITDA) during April 1 - June 30, 2011 were EUR 275 thousand (6.3%) and earnings before interest and taxes (EBIT) were EUR 142 thousand (3.3%), In May 2011, the company launched a cost-effectiveness program described in the previous interim report, which places special emphasis on unifying and improving practices related to project management and resource allocation and cutting other business costs. The program has already helped to increase productivity in June 2011 already, when the company's business results were clearly higher than in the previous months. Cutting other business costs is expected to reduce costs from July 2011 on. Profitability for the rest of the year is expected to improve due to our strong order book and the planned decrease in research and development from the first half of the year. In June, Innofactor revamped its brand, which involved a renewed customer promise called Your Partner. Your Solution.™, which underlined the company's long-term collaboration with its customers. Innofactor continues to seek potential strategic partnerships in Finland and neighboring countries. The group will seek growth, which can be organic or based on mergers or acquisitions. Market outlook and business environment In June 2011, Innofactor was awarded the Microsoft Country Partner of the Year, which reinforced the company's position as one of Microsoft's key partners in Finland. On July 10, 2011, at the Microsoft Worldwide Partner Conference in Los Angeles, USA, Innofactor launched its new cloud services. These services drew a fair amount of attention, and Innofactor believes there is a significant international market for them. Innofactor's market outlook is positive. Espoo, August 9, 2011 INNOFACTOR PLC Board of Directors Additional information: Sami Ensio, CEO, Innofactor Plc tel. +358 50 584 2029 sami.ensio@innofactor.com Distribution: NASDAQ OMX Helsinki Main media www.innofactor.fi Financial releases in 2011 The interim reports of Innofactor Plc will be published as follows: -- Interim report January-September on November 1, 2011, at 8:30 Finnish time |
|||
|