2007-05-15 08:00:00 CEST
2007-05-15 08:00:00 CEST
REGULATED INFORMATION
Suomen Terveystalo Oyj - Quarterly report
Suomen Terveystalo's January-March turnover increased by 44.0% and amounted to EUR 29.3 million, operating profit was EUR 2.6 million
SUOMEN TERVEYSTALO OYJ STOCK EXCHANGE RELEASE
15 May 2007 at 09:00am
Suomen Terveystalo's January-March turnover increased by 44.0% and amounted to
EUR 29.3 million, operating profit was EUR 2.6 million
January-March 2007 (January-March 2006):
- Turnover EUR 29.3 million (20.3)
- Operating profit EUR 2.6 million (2.5)
- Turnover for the Clinics and Hospitals segment was EUR 16.1 million
(11.0) and operating profit EUR 1.2 million (1.2)
- Turnover for the Diagnostics segment was EUR 14.9 million (9.8) and
operating profit EUR 4.1 million (3.6)
- Turnover for the full year 2007 is expected to increase significantly from
the previous year.
- Operating profit for the whole year 2007 is expected to be at least at the
same level as in the previous year
Suomen Terveystalo Oyj's turnover increased by 44.0 per cent in January-March
2007 compared to the corresponding period last year and amounted to EUR 29.3
million (EUR 20.3 million in January-March 2006). In addition to organic growth,
the increase in turnover was affected by the business acquisitions carried out
in April-December 2006 and the beginning of 2007.
Operating profit was EUR 2.6 million (2.5). The operating profit increased by
5.4 per cent compared to January-March 2006.
The company carried out three business acquisitions in January-March 2007. No
considerable costs are expected to arise from the integration of the acquired
companies and operations with Suomen Terveystalo.
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| KEY RATIOS | 1-3/2007 | 1-3/2006 | 1-12/2006 |
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| Turnover, 1 000 EUR | 29 264 | 20 324 | 88 852 |
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| Operating Profit, 1 000 EUR | 2 595 | 2 463 | 5 106 |
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| Earnings per share, EUR | 0.03 | 0.04 | 0.04 |
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| Equity per share, EUR | 0.82 | 0.75 | 0.81 |
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| Net Gearing, % | 132.7 | 73.8 | 134.7 |
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| Return on investment, % | 12.2 | 13.7 | 6.5 |
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| Return on equity, % | 14.1 | 25.3 | 6.0 |
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| Operating profit-% | 8.9 | 12.1 | 5.7 |
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The income statement figures used in the calculation of the return on investment
(ROI) and return on equity (ROE) have been annualized.
SUOMEN TERVEYSTALO OYJ'S INTERIM REPORT
January 1 - March 31, 2007
Business operations
Measured by the number of clinics, Suomen Terveystalo is Finland's most
extensive private clinic and hospital group. The company operates in private
healthcare service markets and provides its corporate, private and community
customers with comprehensive healthcare services. The company's operations are
arranged in two segments. National, regional and local operations are supported
through Group functions.
The Clinics and Hospitals segment is responsible for the occupational
healthcare, private practice and hospital services.
Suomen Terveystalo is persistently working to expand and develop the clinic and
occupational healthcare unit network. Clinics and occupational healthcare units
are being developed into centralized customer service points through which
customers are referred to all of the services produced by the company. A
standardized and extensive service network is expected to have a positive effect
on Suomen Terveystalo's market position in the long term.
In January-March 2007, clinics operations were launched in Valkeakoski, an
occupational healthcare unit was opened in Kaskinen, clinics and hospital
operations were started in Kristiinankaupunki and 4D ultrasound imaging for
prenatal diagnosis was launched in eight units around Finland.
The Diagnostics segment provides imaging, laboratory and screening services,
which complement the services offered to the customers of the Clinics and
Hospitals segment and the diagnosis services sold to external customers, such as
municipalities, hospital districts, insurance companies and other cooperation
partners.
Suomen Terveystalo has invested in developing its equipment, operating models
and IT systems by digitalizing the imaging network and increasing the degree of
automation in laboratory operations. The completely digitalized imaging process
enables reviewing of images regardless of location and provides benefits related
to the efficiency and speed of service. By automating laboratory operations, the
company is seeking benefits that are reached through resource efficiency and
faster and more efficient lead-time for processed tests.
The tract automation in the company's Central laboratory located in Tampere was
mainly installed for testing by the end of the first quarter of 2007. The full
introduction of the tract automation during 2007 will make the sample analytics
significantly faster and more efficient, and provide the requirements for
offering these services also to external parties more widely. The demand for the
screening services will be favorably influenced already in 2007 by the expansion
of the regulation-based mammography tests aimed at finding breast cancer at an
early stage to be applied to women between 60 and 69 years of age.
The Group functions support the Group-level, regional and local business
operations. The Group functions include HR, Quality, Finance, ICT, Insurance
services and Communications.
The organization of all of the Group functions was developed and the resources
were strengthened in the first quarter of 2007.
The Group's centralized telephone appointment reservation service was launched
in March. At the first phase the Call Center located in Kristiinankaupunki took
over all calls to the common appointment number in the Uusimaa region. The
renewal has improved the availability by telephone from approximately 75 per
cent to more than 90 per cent. During spring, the centralized telephone
appointment reservation service will be expanded in Kristiinankaupunki and the
regional units of the Call Center. The development of the web-based online
appointment reservation system was started in March as part of a more extensive
development project concerning electronic services. Its intermediate targets
include the definition and introduction of the new content management and
electronic appointment reservation systems.
Turnover
In January-March 2007, turnover increased by 44.0 per cent compared to the
corresponding period last year and amounted to EUR 29.3 million (EUR 20.3
million in January-March 2006). The share of the Clinics and Hospitals segment
was 48.7 per cent and that of the Diagnostics segment was 47.7 per cent.
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| Turnover by segment | | | |
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| 1 000 EUR | 1-3/2007 | 1-3/2006 | 1-12/2006 |
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| Clinics and Hospitals segment | 16 148 | 11 022 | 49 330 |
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| Diagnostics segment | 14 872 | 9 810 | 44 523 |
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| Group Eliminations | -2 803 | -508 | -6 992 |
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| Other | 1 048 | 0 | 1 992 |
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| Group total | 29 264 | 20 324 | 88 853 |
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Earnings
In January-March 2007, the operating profit was EUR 2.6 million, i.e. 8.9 per
cent of turnover (EUR 2.5 million, i.e. 12.1% of turnover in January-March
2006). Operating profit increased by 5.4 per cent from last year's corresponding
period. Profit belonging to the owners of the parent company was EUR 1.2
million, i.e. 4.2 per cent of turnover (EUR 1.9 million, 9.2%). Profit for the
period decreased by 35.3 per cent mainly due to increased financing expenses.
Earnings per share calculated from earnings belonging to the owners of the
parent company were EUR 0.03 (EUR 0.04).
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| Operating profit by segment | | | |
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| 1 000 EUR | 1-3/2007 | 1-3/2006 | 1-12/2006 |
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| Clinics and Hospitals segment | 1 210 | 1 169 | -906 |
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| Diagnostics segment | 4 061 | 3 579 | 13 446 |
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| Muut | -2 676 | -2 285 | -7 434 |
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| Group total | 2 595 | 2 463 | 5 106 |
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Return on assets
The annualized return on investments (ROI) in January-March 2007 was 12.2 per
cent (13.7% in January-March 2006). The annualized return on equity (ROE) was
14.1 per cent (25.3%).
Investments
The company carried out three business acquisitions in January-March 2007. The
acquisition of all shares in Forssan Lääkärikeskus Mediris Oy and Keski-Suomen
Sydäntutkimusasema Oy is related to the expansion of the Clinics and Hospitals
segment, and the acquisition of all shares in Clini-Sonic Oy relates to the
expansion of the Diagnostics segment.
All of the above-mentioned share transactions were completed on February 14,
2007, and paid in cash. The total transaction price was EUR 795,000.
During the first quarter the company also invested in office facilities and
imaging devices. The Kristiinankaupunki clinic-hospital operating in the
Selkämeri hospital facilities was equipped, as were the new clinic facilities in
Helsinki for the former Hämeentie clinic, in Hämeenlinna and in Valkeakoski, as
well as the Call Center facilities responsible for the centralized appointment
reservation service in Kristiinankaupunki.
Balance sheet and financing
The balance sheet total at the end of March 2007 was EUR 124.1 million (EUR 93.5
million at the end of March 2006). Liquidity remained good in January-March
2007. The Group's liquid assets, including financial assets, amounted to EUR 5.9
million at the end of the period (EUR 14.2 million). The decrease in liquid
assets was caused by the investments in organic operations and acquisitions
carried out during the period.
The company withdrew EUR 1.4 million of external financing during the period.
Net gearing was 132.7 per cent (73.8%) at the end of the first quarter.
Cash flow
In January-March 2007, the cash flow from operations amounted to EUR 4.4 million
(EUR 3.4 million in January-March 2006).
Personnel
The average number of personnel in January-March 2007 was 1,308 (951 in
January-March 2006, 1,085 in 2006) and at the end of the period 1,335 (975 at
the end of March 2006 and 1,253 at the end of financial period 2006).
A total of approximately 1,800 independent entrepreneurs received patients in
the company's business facilities at the end of the review period.
Organization
Suomen Terveystalo continued to develop its organization on the basis of the
Group structure that stabilized at the end of 2006. The Group structure is based
on two key business segments that are divided into services, and Group
functions. The Clinics and Hospitals segment comprises general practitioners and
specialists, occupational healthcare and hospital services. The Diagnostics
segment comprises laboratory, imaging and screening services.
Juha Wilkman, MA, started as Group's Chief Information Officer and a Group
Management Team member on March 1, 2007.
Shares and share capital
At the end of the first quarter of 2007, Suomen Terveystalo Oyj's share capital
was EUR 471,946.63 and the total number of shares was 47,194,663. The share
ticker in the book-entry system is SUT1V.
During January-March 2007, the number of shares increased by a total of 6,100
shares and the share capital increased by EUR 61.00 as a result of shares
directed to be subscribed for the seller party in the business transactions by
the company's Board of Directors.
On June 21, 2006 the Annual Shareholders' Meeting authorized the Board of
Directors to decide upon raising the share capital by a total of EUR 92,843.52
by June 21, 2007, deviating from the shareholders' pre-emptive subscription
right through a new share issue or convertible bond, or by granting options
rights in one or several rounds, so that the existing unexercised authorizations
can correspond to a maximum of one-fifth of the registered share capital and
total votes conferred by the shares at the time of the shareholders' resolution
to grant the authorization and the Board's decision to carry out the increase in
share capital. At the end of the period, EUR 83,707.43 of this authorization
remained unused.
On November 7, 2006, the company arranged an Extraordinary Shareholders' Meeting
that authorized the company's Board of Directors to decide upon a share issue of
20,000,000 shares deviating from the shareholders' pre-emptive subscription
right through a chargeable new share issue in one or several rounds by November
7, 2007. On March 15, 2007, the Board of Directors decided upon launching the
share issue and applying for a listing at the Helsinki Stock Exchange. A maximum
of 20,000,000 shares were offered for subscription in the share issue offered
for the public, institutional investors and the personnel.
Events after the review period
Suomen Terveystalo Oyj's Board of Directors decided on April 2, 2007 upon
setting EUR 2.40 as the share price in the public and institutional issue and
EUR 2.16 as the share price in the personnel issue related to the shares issue
organized from March 19 to March 30, 2007.
The increase in share capital approved by the Board of Directors on April 2,
2007, on the basis of the subscriptions made in the share issue organized on
March 19 - March 30, 2007, was entered in the Trade Register on April 2, 2007.
The number of the company's shares increased by 20,000,000 shares in the share
issue to a total of 67 194 663 shares, and the increase in the share capital
performed on the basis of the increase in the number of shares totaled EUR
200,000.
The quotation of Suomen Terveystalo Oyj's shares started on the Pre-list of the
Helsinki Stock Exchange on April 3, 2007, and on the Official List on April 10,
2007. The issue of the new shares brought a gross income of approximately EUR
47.9 million to the company and an income of approximately EUR 46.6 million
after the deduction of the organizers' fees. The company will use the acquired
assets in the development of its operations and the implementation of its growth
strategy. Following the stock exchange listing, Suomen Terveystalo Oyj had a
total of 4,744 shareholders on April 5, 2007.
The most recent subsidiary mergers within the Group were finished in April 2007
and the mergers were entered in the Trade Register on April 30, 2007.
Vaajakosken Lääkäriasema Oy, Tuuranmäki Oy, EP:n Lääkäripalvelu Oy,
Etelä-Pohjanmaan Fysioterapia Oy, Hyvinkään Lääkärikeskus Oy, Kainuun Työvireys
Oy, Kokkolan Kliininen Laboratorio Oy, Korson Lääkärikeskus Oy, Liikekeskuksen
Lääkäriasema Oy, Länsi-Pohjan Lääkarikeskus Oy, Lääkärikeskus Vire Oy, Mikkelin
Röntgenlaitos Oy, Pohjanmaan Kirurgikeskus Oy, Kemin Spesialistipalvelut Oy,
Turun Korvacenter Oy, Turun seudun Allergiakeskus Oy, Rovaniemen Sairasapu ja
Laboratorio Oy and Ponticulus Oy were merged with Medishuntti Oy, and Helsingin
Silmälaseri Oy was merged with Sairaala Laseri Oy, both of which are
subsidiaries fully owned by Suomen Terveystalo Oyj.
Finnvera Oyj has announced that the company will subscribe Suomen Terveystalo
Oyj´s shares based on the EUR 501,500 capital loan-based convertible bonds
issued on March 13, 2004. Based on the convertible bond terms, the bond is
exchanged to subscribe for 850,000 Suomen Terveystalo Oyj´s shares with the
price of EUR 0.59 per share. Following this exchange, the raise in the
registered share capital of Suomen Terveystalo is EUR 8,500. After the share
capital increase, the total number of the shares of Suomen Terveystalo Oyj will
be 68,044,663.
According to the agreement signed on May 14, 2007 Suomen Terveystalo Oyj sells
the business operations of its fully owned subsidiary Helsingin Hammaslaseri Oy
to Oral Hammaslääkärit Plc. The sale means that Suomen Terveystalo Oyj will quit
the dental business and concentrate to its main business areas Clinics and
Hospitals and Diagnostics business. According the estimates the profit from the
sale is EUR 0.2 million. The final profit from the sale will be specified in the
first half of 2008.
Suomen Terveystalo Oyj and Imaging & Archiving Oy have had a fixed ASP-service
agreement until February 10, 2011 of the PACS/RIS systems for radiological
imaging. The companies have made an agreement to end the contract at May 31,
2007. After that the PACS/RIS - system is administrated by Suomen Terveystalo´s
own organization.
The Board of Suomen Terveystalo Oyj decided on May 4, 2007 to acquire a new
mobile MRI imaging unit in 2007. After this the number of the company´s mobile
MRI imaging units will be four.
The Board of Suomen Terveystalo Oyj decided on May 14, 2007 to start the merger
process with its subsidiaries so that Rexis Oy, Lipram Oy, Forssan
Lääkärikeskus Mediris Oy, Lääkärikeskus Alfa-med Oy, Sairaala Laseri Oy,
Kuntohovin Lääkäriasema Oy, Hämeentien Lääkärikeskus Oy, Tammer-Sinus Oy,
Tampereen Gynekologiakeskuksen laboratorio ja konsultaatiopalvelut Oy, Seinäjoen
Työterveyskeskus Oy, Rejlab Oy, Hemo Oy, Lahden Röntgenpalvelu Oy and
Keski-Suomen Sydäntutkimusasema Oy will be merged with Makkaratalon Foksimetri
Oy. All the named mergers are planned to be finished on 1.1.2008.
Near-future risks and factors of uncertainty
Suomen Terveystalo takes risks associated with its strategy and goals. The risks
are managed and minimized as far as possible using a variety of means. The
company is not prepared to take risks that might endanger the continuity of its
operations, be uncontrollable or substantially impair the company's operations.
The purpose of the company's risk management is to systematically and
comprehensively identify risks associated with the operations, maintain
risk-awareness and ensure that risks are managed appropriately when making
business decisions.
The most significant risks include risks related to growth and acquisitions,
social and legislative risks, risks related to malpractice cases and liabilities
for damages, risks related to customer relationships and personnel, and risks
related to technology and data security. The aim is to manage these risks
through operating guidelines and rules or transfer them to another party through
agreements and insurance policies.
In January-March 2007 the company continued the development of the systematic
risk management, internal supervision and internal processes. The unit managers
accountable for business play the key role in daily risk management and internal
supervision operations. Internal audits extend to the company's operational
processes when they are altered. Annual internal audits are carried out on the
business units to the extent decided on by the Board of Directors' audit
committee. Reports on risks and internal audit are provided to the Board of
Directors' audit committee.
Outlook
According to published studies, the future market of private healthcare services
is expected to continue to increase by nine per cent per annum on average. The
aim of Suomen Terveystalo is to be the leading private provider of healthcare
services in Finland, measured by turnover and profitability, by the end of 2008.
The company aims to grow organically at least at the same rate as the market on
average. In addition, the company has a strategy-based acquisition program with
which the company aims to continuously increase its growth.
The general outlook on the private practitioner operations is considered to be
good, and, as a result, the company estimates growth in the Clinics and
Hospitals segment to continue.
The digitalization of the imaging network has created the possibility of
developing teleradiology operations, which, according to the views of the
company, will be seen as the increase in new customer relationships already in
2007.
On the basis of general market growth and the business acquisitions, the
company's turnover in 2007 is expected to exceed the turnover in 2006
significantly.
The company's operating profit in 2007 is expected to be at least at the same
level as in 2006.
SUOMEN TERVEYSTALO GROUP
Suomen Terveystalo Oyj's 1 January - 31 March 2007 interim report has been
compiled in accordance with the recognition and measurement principles set out
in the International Financial Reporting Standards (IFRS), but not all of the
requirements set by the IAS 34, Interim Financial Reporting standard have been
applied. When compiling this interim report the company has applied the same
principles as in the financial statement for the financial period ended on
December 31, 2006.
The figures in the income statement and balance sheet are Group figures. All
significant Group companies are consolidated in the Group's balance sheet. The
interim report is not audited.
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| CONSOLIDATED BALANCE SHEET, | | | |
| 1 000 EUR | | | |
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| ASSETS | 31 March | 31 March | 31 Dec 2006 |
| | 2007 | 2006 | |
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| LONG-TERM ASSETS | | | |
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| Tangible fixed assets | 44 865 | 28 990 | 43 937 |
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| Goodwill | 41 667 | 31 619 | 40 946 |
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| Other intangible assets | 7 994 | 3 533 | 8 074 |
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| Other long-term assets | 3 034 | 1 703 | 1 645 |
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| Deferred tax assets | 2 166 | 1 053 | 2 006 |
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| TOTAL LONG-TERM ASSETS | 99 726 | 66 898 | 96 608 |
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| CURRENT ASSETS | | | |
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| Inventories | 1 645 | 1 558 | 1 644 |
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| Accounts receivable and other | 16 866 | 10 891 | 16 423 |
| receivables | | | |
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| Financial assets | 387 | 1 010 | 375 |
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| Liquid assets | 5 502 | 13 169 | 6 571 |
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| TOTAL CURRENT ASSETS | 24 400 | 26 628 | 25 013 |
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| ASSETS TOTAL | 124 126 | 93 526 | 121 621 |
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| SHAREHOLDERS' EQUITY AND | 31 March | 31 March | 31 Dec 2006 |
| LIABILITIES | 2007 | 2006 | |
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| SHAREHOLDERS' EQUITY | | | |
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| Share Capital | 472 | 464 | 472 |
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| Share issue | 315 | 1 | 315 |
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| Share Premium Account | 31 211 | 30 753 | 31 211 |
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| Unrestricted equity reserve | 100 | 0 | 630 |
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| Retained earnings | 4 019 | 2 139 | 2 085 |
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| Profit for the period | 1 219 | 1 882 | 1 937 |
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| Minority interest | 1 955 | 381 | 1 892 |
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| TOTAL SHAREHOLDERS' EQUITY | 39 291 | 35 620 | 38 542 |
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| LIABILITIES | | | |
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| Deferred Tax Liabilities | 3 574 | 1 743 | 3 561 |
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| Other long-term liabilities | 44 520 | 31 293 | 49 146 |
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| Current liabilities | 36 741 | 24 870 | 30 372 |
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| TOTAL LIABILITIES | 84 835 | 57 906 | 83 079 |
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| TOTAL EQUITY AND LIABILITIES | 124 126 | 93 526 | 121 621 |
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| CONSOLIDATED INCOME | | | | |
| STATEMENT 1 000 EUR | | | | |
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| | 1-3/2007 | 1-3/2006 | Change % | 1-12/2006 |
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| Turnover | 29 264 | 20 324 | 44.0 % | 88 852 |
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| Other operating income | 164 | 136 | 20.6 % | 2 244 |
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| Share of profit of | 189 | 110 | 71.8 % | 390 |
| associates | | | | |
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| Operating costs | -24 563 | -16 657 | 47.5 % | -77 482 |
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| Depreciation and | -2 459 | -1 450 | 69.6 % | -8 899 |
| impairment | | | | |
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| OPERATING PROFIT | 2 595 | 2 463 | 5.4 % | 5 105 |
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| Financial income and | -856 | -353 | 142.5 % | -1 910 |
| expenses | | | | |
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| Profit before taxes | 1 739 | 2 110 | -17.6 % | 3 195 |
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| Income taxes | -423 | -209 | 102.4 % | -1 020 |
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| PROFIT FOR THE PERIOD | 1 316 | 1 901 | -30.8 % | 2 175 |
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| Attributable to: | | | | |
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| - Parent company | 1 218 | 1 882 | | 1 937 |
| shareholders | | | | |
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| - Minority | 98 | 19 | | 238 |
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| Earnings per share | | | | |
| caluculated on the | | | | |
| earning belonging to | | | | |
| the parent company | | | | |
| shareholders (EUR) | | | | |
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| Undiluted | 0.03 | 0.04 | | 0.04 |
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| Diluted | 0.03 | 0.04 | | 0.04 |
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| CASH FLOW STATEMENT | | | |
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| 1 000 EUR | 1-3/2007 | 1-3/2006 | 1-12/2006 |
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| Cash flow from operations | | | |
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| Profit for the period | 1 316 | 1 901 | 2 175 |
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| Adjustments | 3 536 | 1 919 | 11 403 |
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| Changes in working capital | 748 | -38 | -5 130 |
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| Interest paid | -621 | -299 | -1 696 |
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| Interest received | 16 | 13 | 140 |
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| Taxes paid | -565 | -63 | -2 403 |
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| Net cash flow from operations | 4 430 | 3 433 | 4 489 |
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| Cash flow from investments | | | |
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| Acquisitions of subsidiaries, | | | |
| associates, | | | |
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| property, plant, eqipment and | -3 707 | -3 762 | -15 524 |
| intangible assets | | | |
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| Disposal of assets | 31 | 92 | 396 |
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| Dividends received | 2 | 0 | 292 |
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| Net cash flow from investments | -3 674 | -3 670 | -14 836 |
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| Cash flow from financing | | | |
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| Share issue payments | 18 | 38 | 606 |
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| Costs of issuing equity | -548 | 0 | -1 017 |
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| Withdrawals of loans | 1 397 | 5 163 | 14 679 |
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| Repayment of loans | -1 762 | -910 | -3 962 |
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| Repayment of finance lease | -929 | -321 | -2 825 |
| liabilities | | | |
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| Dividents paid | -2 | 0 | 0 |
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| Net cash flow from financing | -1 826 | 3 970 | 7 481 |
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| Liquid assets at beginning of period | 6 571 | 9 436 | 9 436 |
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| Liquid assets at end of period | 5 502 | 13 169 | 6 571 |
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| STATEMENT OF CHANGES IN | | | | | |
| CONSOLIDATED EQUITY | | | | | |
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| 1 000 EUR | Share | Share | Share | Un- | Retained | Mino- | Total |
| | Capi- | premium | issue | res- | earnings | rity | |
| | tal | account | | tricted | | inte- | |
| | | | | equity | | rest | |
| | | | | reserve | | | |
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| Share- | 472 | 31 211 | 315 | 630 | 4 021 | 1 892 | 38 541 |
| holders' | | | | | | | |
| equity | | | | | | | |
| Jan 1 | | | | | | | |
| 2007 | | | | | | | |
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| Costs of | 0 | 0 | 0 | -548 | 0 | 0 | -548 |
| issuing | | | | | | | |
| equity | | | | | | | |
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| Rights | 0 | 0 | 0 | 18 | 0 | 0 | 18 |
| issues | | | | | | | |
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| Dividents | 0 | 0 | 0 | 0 | -2 | 0 | -2 |
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| Profit | 0 | 0 | 0 | 0 | 1 218 | 98 | 1 316 |
| for | | | | | | | |
| the | | | | | | | |
| period | | | | | | | |
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| Minority | 0 | 0 | 0 | 0 | 0 | -35 | -35 |
| interests | | | | | | | |
| in | | | | | | | |
| acquisi- | | | | | | | |
| tions | | | | | | | |
| and other | | | | | | | |
| changes | | | | | | | |
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| Share- | 472 | 31 211 | 315 | 100 | 5 237 | 1 955 | 39 290 |
| holders' | | | | | | | |
| equity | | | | | | | |
| March 31 | | | | | | | |
| 2007 | | | | | | | |
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| STATEMENT OF CHANGES IN | | | | | |
| CONSOLIDATED EQUITY | | | | | |
--------------------------------------------------------------------------------
| 1 000 EUR | Share | Share | Share | Un- | Retained | Mino- | Total |
| | Capi- | premium | issue | res- | earnings | rity | |
| | tal | account | | tricted | | inte- | |
| | | | | equity | | rest | |
| | | | | reserve | | | |
--------------------------------------------------------------------------------
| Share- | 464 | 30 753 | 1 | 0 | 2 139 | 362 | 33 719 |
| holders' | | | | | | | |
| equity | | | | | | | |
| Jan 1 | | | | | | | |
| 2006 | | | | | | | |
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| Profit | 0 | 0 | 0 | 0 | 1 882 | 19 | 1 901 |
| for | | | | | | | |
| the | | | | | | | |
| period | | | | | | | |
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| Share- | 464 | 30 753 | 1 | 0 | 4 021 | 381 | 35 620 |
| holders' | | | | | | | |
| equity | | | | | | | |
| March 31 | | | | | | | |
| 2006 | | | | | | | |
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| SEGMENT INFORMATION, 1 000 EUR | 1-3/2007 | 1-3/2006 | 1-12/2006 |
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| Turnover by segment | | | |
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| Clinics and Hospitals segment | 16 148 | 11 022 | 49 330 |
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| Diagnostics segment | 14 872 | 9 810 | 44 523 |
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| Other | 1 048 | 0 | 1 992 |
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| Group Eliminations | -2 803 | -508 | -6 992 |
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| Total turnover | 29 264 | 20 324 | 88 853 |
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| Operating profit by segment | | | |
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| Clinics and Hospitals segment | 1 210 | 1 169 | -906 |
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| Diagnostics segment | 4 061 | 3 579 | 13 446 |
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| Other | -2 676 | -2 285 | -7 434 |
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| Total operating profit | 2 595 | 2 463 | 5 106 |
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| Operating profit-% | 8.9 | 12.1 | 5.7 |
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| Financial income and expenses | -855 | -352 | -1 910 |
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| Profit before taxes | 1 739 | 2 111 | 3 196 |
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| Income taxes | -423 | -209 | -1 021 |
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| PROFIT FOR THE PERIOD | 1 316 | 1 902 | 2 175 |
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| QUARTERLY CONSOLIDATED INCOME STATEMENT, 1 000 EUR | | |
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| | 1-3/2007 | 10-12/2006 | 7-9/2006 | 4-6/2006 | 1-3/2006 |
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| Turnover | 29 264 | 27 070 | 19 590 | 21 868 | 20 324 |
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| Other operating | 164 | 1 850 | 113 | 147 | 136 |
| income | | | | | |
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| Share of profit | 189 | 121 | 111 | 47 | 110 |
| of associates | | | | | |
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| Operating costs | -24 563 | -23 752 | -18 077 | -18 998 | -16 657 |
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| Depreciation | -2 459 | -3 466 | -2 220 | -1 762 | -1 450 |
| and impairment | | | | | |
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| OPERATING | 2 595 | 1 823 | -483 | 1 302 | 2 463 |
| PROFIT | | | | | |
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| Financial | -856 | -614 | -396 | -548 | -353 |
| income | | | | | |
| and expenses | | | | | |
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| Profit before | 1 739 | 1 209 | -879 | 754 | 2 110 |
| taxes | | | | | |
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| Income taxes | -423 | 80 | -353 | -539 | -209 |
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| PROFIT FOR THE | 1 316 | 1 289 | -1 232 | 215 | 1 901 |
| PERIOD | | | | | |
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| Attributable to | | | | | |
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| - Parent | 1 218 | 1 334 | -1 402 | 122 | 1 882 |
| company | | | | | |
| shareholders | | | | | |
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| - Minority | 98 | -46 | 170 | 94 | 19 |
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| OTHER INFORMATION | 1-3/2007 | 1-3/2006 | 1-12/2006 |
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| Average personnel | 1 308 | 951 | 1 085 |
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| Personnel at end of period | 1 335 | 975 | 1 253 |
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SUOMEN TERVEYSTALO OYJ
Board of Directors
Suomen Terveystalo Oyj
Martti Kiuru
CEO
More information:
Suomen Terveystalo Oyj, CEO Martti Kiuru, tel. +358 9 2310 6100
Suomen Terveystalo Oyj, CFO Timo Leinonen, tel. +358 400 793 073
Suomen Terveystalo in brief:
Suomen Terveystalo, which has 100 offices across Finland, is Finland's largest
comprehensive healthcare clinics and hospitals chain. The company offers
healthcare, occupational healthcare and medical treatment services to private
persons, corporations and communities. The company that was founded in 2001 has
strongly grown throughout its history. In 2006, the turnover was MEUR 88.9 and
operative profit MEUR 5.1. The company has about 1.750 practising doctors and
some 50 other health care professionals. At the end of March 2007 the company
employed 1,335 people. Suomen Terveystalo's share (SUT1V) is listed in the
Helsinki Stock Exchange.
The statements about the future are based on the situation when the bulletin was
published and the actual outcome may differ from the statements. Anything in
this bulletin that is not historical fact is a statement about the future. All
statements about the future contain known and unknown risks, uncertainties and
other factors that may lead to considerable deviation in Suomen Terveystalo
Group's actual earnings, operations and accomplishments compared to any
statements related to future earnings, operations and accomplishments included
in such a statement on the future. Such factors include general economic and
operating environment-related conditions, additions and changes to the
competitive situation, the company's ability to implement and utilize its
investment program and the company's ability to continue expanding its
operations.
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