2016-04-21 08:00:01 CEST
2016-04-21 08:00:01 CEST
REGULATED INFORMATION
SSH Communications Security Oyj - Interim report (Q1 and Q3)
SSH COMMUNICATIONS SECURITY CORPORATION FINANCIAL STATEMENT RELEASE, JANUARY 1 – MARCH 31, 2016
Helsinki, Finland, 2016-04-21 08:00 CEST (GLOBE NEWSWIRE) -- SSH COMMUNICATIONS
SECURITY CORPORATION FINANCIAL STATEMENT RELEASE April 21, 2016 AT 9:00
A.M
SSH COMMUNICATIONS SECURITY CORPORATION FINANCIAL STATEMENT RELEASE, JANUARY 1
– MARCH 31, 2016
January–March 2016: Net sales declined and losses are due to delays in closing
software deals and continued investments to future growth. Cash flow was
negative, cash position remained strong.
Net sales totaled EUR 2.6 million, down by -61.1 % year on year (EUR 6.8
million in 1–3/2015). The same quarter last year included an exceptionally
large consultancy deal.
Operating loss was EUR -2.2 million (EUR -0.4 million in 1–3/2015). There were
no non-recurring items on the reporting period. Loss was EUR -2.6 million (EUR
-0.4 million)
Earnings per share EUR -0.09 (EUR -0.02).
Equity ratio remained good 68.4 % (69.7 %). Liquid assets were EUR 8.5 million
(EUR 18.9 million).
In 2016, SSH Communications Security estimates its revenue to grow
significantly compared with 2015.
KEY FIGURES
-------------------------------------------------------------------
1-3/ 1-3/ Change % 1-12/
2016 2015 2015
-------------------------------------------------------------------
-------------------------------------
-------------------------------------------------------------------
Net sales (MEUR) 2.6 6.8 -61.1 18.9
-------------------------------------------------------------------
Operating profit/loss (MEUR) -2.2 -0.4 -500.4 -4.4
------------------------------------- -----------------------
% of net sales -84.0 -5.4 -1,444.8 -23.2
-------------------------------------------------------------------
Profit/loss before taxes (MEUR) -2.6 -0.3 -687.7 -3.9
-------------------------------------------------------------------
Profit/loss (MEUR) -2.6 -0.4 -637.4 -3.9
-------------------------------------------------------------------
-------------------------------------------------------------------
Return on equity, % -26.4 -2.7 -888.6 -40.4
-------------------------------------------------------------------
Return on investment, % -26.0 -2.7 -847.7 -39.9
-------------------------------------------------------------------
Liquid assets 8.5 18.9 -54.8 11.3
-------------------------------------------------------------------
Gearing (%) -99.0 -99.6 0.5 -98.8
-------------------------------------------------------------------
Equity ratio (%) 68.4 69.7 -1.8 66.8
-------------------------------------------------------------------
-------------------------------------------------------------------
Earnings Per Share (EUR) -0.09 -0.02 -456.5 -0.15
-------------------------------------------------------------------
Shareholders' equity per share (EUR) 0.27 0.61 -55.3 0.36
-------------------------------------------------------------------
CEO's review
The year started very slowly. We closed SSH key management deals with one of
the largest banks in Spain, a significant US bank, and a well-known technology
company in the US. These initial deals were relatively small and could not be
fully recognized in the first quarter. Outlook for the rest of the year is
still good.
Activity and interest in SSH key management is increasing and we are focusing
on educating IT security auditors to speed up the emergence of the market. SSH
keys grant access to production servers similar to user names and passwords.
They are very frequently used for automating data transfers between information
systems.
We recently successfully completed a major SSH key management project with one
of the largest banks in the world. Reviewing several hundred of their most
critical business applications and over 10,000 servers, we found and brought
under management over two million SSH keys. Each key granted access to some
user account and server.
SSH keys have not been properly addressed in identity and access management
projects. Many companies are finding 90% of all access codes to their servers
unmanaged. The analyst firm IDC titled this “a gaping hole in your IAM
strategy”.
We intend to maintain our position as the leader in the SSH key management
market. We intend to have the best technology, best service, and overall the
best solution for customers to solve the problem. We will build a network a
partners to help gain access to and deploy our solutions at leading customers.
We started our market penetration from financial organizations, but are now
expanding to government, technology, health care, retail and other industries.
A lot of our investment in the near future will go into expanding our sales and
marketing capability.
Additionally interest in monitoring third party access into information systems
is growing. We are seeing more large deals in the pipeline around our
CryptoAuditor product. Our next generation firewall and encryption products
are generating significant interest with initial customers. Our patent
enforcement activities are progressing.
I look forward to developing the company further with world leading technology
into an emerging large market.
Tatu Ylönen, CEO
NET SALES
Consolidated net sales for January–March totaled EUR 2.6 million (EUR 6.8
million), down by 61.1 %, year on year.
The Americas, the Europe, Middle East and Africa market area and the Asia
Pacific region accounted for 66.2 % (60.4 %), 18.4 % (35.9 %) and 15.4 % (3.7
%) of reported net sales, respectively.
SSH NET SALES
----------------------------------------------------------
EUR million 1-3/ 1-3/ Change % 1-12/
2016 2015 2015
----------------------------------------------------------
----------------------------------------------------------
BY SEGMENT
----------------------------------------------------------
AMERICAS 1.7 4.1 -57.5 11.7
----------------------------------------------------------
APAC 0.4 0.3 58.8 2.1
----------------------------------------------------------
EMEA 0.5 2.4 -80.1 5.0
----------------------------------------------------------
SSH Group Total 2.6 6.8 -61.1 18.9
----------------------------------------------------------
----------------------------------------------------------
BY OPERATION
----------------------------------------------------------
Software fees 0.7 1.9 -60.3 5.1
----------------------------------------------------------
Professional services & other 0.1 3.1 -97.4 6.1
----------------------------------------------------------
Recurring revenue 1.8 1.9 -3.2 7.6
----------------------------------------------------------
Total 2.6 6.8 -61.1 18.9
----------------------------------------------------------
The majority of the company´s invoicing is U.S. dollar based. With comparable
exchange rates, net sales decline would have been -61.7 % compared with 2015
corresponding period.
RESULTS AND EXPENSES
Operating loss for January–March was EUR -2.2 million (EUR -0.4 million), with
net loss totaling EUR -2.6 million (EUR -0.4 million). Profitability was
influenced by delays in sales growth vs increased operational costs after
continuous investments to sales and product development to realize the market
opportunity.
There were no non-recurring items during January–March.
Sales, marketing and customer support expenses for the January–March reporting
period amounted to EUR -2.6 million (EUR -2.1 million), while research and
development expenses totaled EUR -1.7 million (EUR -1.2 million) and
administrative expenses EUR -0.6 million (EUR -0.4 million).
BALANCE SHEET AND FINANCIAL POSITION
The financial position of SSH Communications Security remained strong during
the reporting period. The consolidated balance sheet total on March 31, 2016
stood at EUR 17.1 million (31.3.2015 EUR 32.0 million; 31.12.2015 EUR 21.8
million), of which liquid assets accounted for EUR 8.5 million (31.3.2015 EUR
18.9 million; 31.12.2015 EUR 11.3 million, or 49.9 % of the balance sheet
total). On March 31, 2016, gearing, or the ratio of net liabilities to
shareholders’ equity, was -99.0 % (31.3.2015 -99.6 %; 31.12.2015 -98.8 %) and
the equity ratio stood at 68.4 % (31.3.2015 69.7 %; 31.12.2015 66.8 %).
The reported gross capital expenditure for the period totaled EUR 0.7 million
(EUR 0.5 million). The reported financial income and expenses consisted mainly
of interest on deposits and exchange rate gains or losses. Financial income and
expenses totaled EUR -0.4 million (EUR 0.0 million).
During January–March, SSH Communications Security reported a negative cash flow
of EUR -1.2 million (EUR 1.7 million) from business operations, and investments
showed a negative cash flow of EUR -0.7 million (EUR -0.5 million). Cash flow
from financing totaled EUR -0.9 million (EUR 11.7 million). During comparison
period convertible capital securities of EUR 12 million were issued. Total cash
flow from operations, investments and financing was negative EUR -2.8 million
(EUR 12.8 million).
There were no short term investments by the end of the reporting period.
RESEARCH AND DEVELOPMENT
Research and development expenses for January–March totaled EUR -1.7 million
(EUR -1.2 million), the equivalent of 63.8 % of net sales (18.2 %). During
January–March, the company has capitalized new product R&D costs EUR 0.6
million (EUR 0.4 million).
HUMAN RESOURCES AND ORGANIZATION
At the end of March, the Group had 112 employees on its payroll, up by 17
persons from the previous year, an increase of 17.9 %. Compared to year end,
the number of employees increased by 3 persons.
At the end of the period, 39.3 % (37.2 %) of the employees worked in sales,
marketing and customer services, 50.9 % (47.9 %) in R&D, and 9.8 % (14.9 %) in
corporate administration.
BOARD AND AUDITORS
At the Annual General Meeting, April 20, 2016 Kaisa Olkkonen and Harri Koponen
were elected and Timo Syrjälä, Tatu Ylönen and Jukka Manner were re-elected to
directors of the company. Kaisa Olkkonen was elected as the Chairman of the
Board of Directors in the board´s organizing meeting.
The Authorized Public Accountants Ernst & Young Oy was elected as the auditor
of the company. Ernst & Young Oy has informed that Erkka Talvinko, Authorized
Public Accountant, will act as the principle auditor.
SHARES, SHAREHOLDING AND CHANGES IN GROUP STRUCTURE
The reported trading volume of SSH Communications Security shares totaled
782,955 shares (valued at EUR 2,747,785). The highest quotation was EUR 4.30
and the lowest EUR 2.92. The trade-weighted average share price for the period
was EUR 3.51 and the share closed at EUR 3.49 (March 31, 2016).
Company’s principal owner Tatu Ylönen holds directly and through his company,
Clausal Computing Oy, 55.5 % of the company's shares, Juha Mikkonen holds
directly and through his company under his control, Assetman Oy 8.0 % and Timo
Syrjälä holds directly or through his companies 6.7 %. More information about
the shareholding can be obtained from the company´s web site.
No dividend or return of capital has been distributed during the reporting
period.
SHARE CAPITAL AND BOARD AUTHORIZATIONS
The company’s registered share capital on March 31, 2016 was EUR 941,108.49
consisting of 31,370,283 shares.
The Annual General Meeting approved the Board of Directors’ proposal to
authorize the Board of Directors to decide upon the issuing of a maximum of
6,000,000 shares as a share issue against payment or by giving stock options or
other special rights entitling to shares, in accordance with Chapter 10 Section
1 of the Finnish Limited Liability Companies Act, either according to the
shareholders’ pre-emptive right to share subscription or deviating from this
right, in one or more tranches. Based on the authorization, either new shares
can be issued or own shares, which the company possibly has in its possession,
can be transferred. Based on the authorization, the Board of Directors has the
same right as the Annual General Meeting to decide on the issuing of shares
against payment and special rights (including stock options) in accordance with
Chapter 10 Section 1 of the Finnish Limited Liability Companies Act. Thereby,
the authorization to be given to the Board of Directors includes, inter alia,
the right to deviate from the shareholders’ pre-emptive rights with directed
issues providing that the company has a weighty financial reason for the
deviation in respect of the share issue against payment.
Furthermore, the authorization includes the Board of Directors’ right to decide
who are entitled to the shares and/or stock options or special rights in
accordance with Chapter 10 Section 1 of the Finnish Limited Liability Companies
Act as well as on the related compensation, subscription and payment periods
and on the registering of the subscription price into the share capital or
invested non-restricted equity fund within the limits of the Finnish Limited
Liability Companies Act.
The authorization will be valid until the next Annual General Meeting, but will
however expire at the latest on June 30th 2017.
The Annual General Meeting approved the Board of Directors’ proposal to
authorize the Board of Directors to decide upon the acquiring of a maximum of
2,000,000 shares of the company with assets belonging to the company’s
non-restricted equity. The shares can also be acquired otherwise than in
proportion to the holdings of the existing shareholders (directed acquisition).
The maximum compensation to be paid for the acquired shares shall be the market
price at the time of purchase, which is determined in the public trading.
The Board of Directors proposes that the authorization for the acquiring of the
company’s own shares would be used, inter alia, to strengthen the company's
capital structure, to finance and realize corporate acquisitions and other
arrangements, to realize the share-based incentive programs of the company or
otherwise to be kept by the company, to be transferred for other purposes or to
be cancelled. The acquisition of shares reduces the company’s distributable
non-restricted equity.
Decision concerning the acquiring of own shares cannot be made so that the
combined amount of the own shares which are in the possession of, or held as
pledges by, the company or its subsidiaries exceeds one-tenth of all shares.
The Board of Directors decides on all other matters related to the acquisition
of shares.
The authorization will be valid until the next Annual General Meeting, but will
however expire at the latest on June 30th 2017.
RISKS AND UNCERTAINTIES
Largest risks that might impact the profitability of the company have remained
by and large the same than in previous reporting period and are listed below.
Other risks, which are currently either unknown or considered immaterial to SSH
Communications Security may, however, become material in the future.
Largest risks:
- continuing uncertainty of the macroeconomic environment
- delays on product development and closing new business
- competitiveness of the product portfolio including intellectual property (IPR)
- litigation, especially in U.S. market
- competitive dynamics in the industry
- cybercrime
- ability of the organization to scale up operations with the growth
- large portion of the company revenue is invoiced in USD currency so possible
large fluctuation in USD currency rates during 2016 could have unpredictable
effects for profitability that are at the time difficult to estimate. Currently
USD currency position is not hedged, and company decides hedging of USD based
contracts case by case.
Utilization of the company´s patent portfolio may have significant positive
and/or negative impacts.
Principles and organization of risk management of SSH Communications Security
can be read from company´s webpage: www.ssh.com.
FUTURE OUTLOOK
In 2016, SSH Communications Security estimates its revenue to grow
significantly from 2015.
RELATED PARTY TRANSACTIONS
Clausal Computing Oy, a fully owned company of SSH Communications Security’s
Chief Executive Officer Tatu Ylönen, has delivered the company mainly R&D
services valued in total EUR 0.1 million during January–March 2016. Chief
Executive Officer Tatu Ylönen subscribed EUR 0.5 million of the hybrid capital
securities issued by the company on March 30th 2015. During the reporting
period, there have not been any other significant transactions with related
parties.
EVENTS AFTER THE BALANCE SHEET DATE
The SSH Communications Security management is not aware of any significant
transactions after the reporting period.
REPORTING
This financial statement release is prepared according to IAS 34. Financial
statement release follows the same principles and standards as the previous
financial statement release. Additionally the effective changes in IAS/IFRS
standards during the reporting period have been adopted. These changes have no
material impact on the interim report. The information presented in this
interim report has not been audited.
TABLES
COMPREHENSIVE INCOME STATEMENT
-------------------------------------------------------------------------------
EUR million 1-3/ 1-3/ 1-12/
2016 2015 2015
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Net sales 2.6 6.8 18.9
-------------------------------------------------------------------------------
Cost of goods sold 0.0 -3.3 -6.5
-------------------------------------------------------------------------------
Gross profit 2.7 3.4 12.4
-------------------------------------------------------------------------------
Other operating income 0.0 0.0 0.0
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Sales, marketing and customer support costs -2.6 -2.1 -10.0
-------------------------------------------------------------------------------
Product development expenses -1.7 -1.2 -5.1
-------------------------------------------------------------------------------
Administrative expenses -0.6 -0.4 -1.6
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Operating profit/loss -2.2 -0.4 -4.4
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Financial income and expenses -0.4 0.0 0.5
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Profit/loss before taxes -2.6 -0.3 -3.9
-------------------------------------------------------------------------------
Taxes -0.0 0.0 -0.1
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Net profit/loss for the financial period -2.6 -0.4 -3.9
-------------------------------------------------------------------------------
Non-controlling interest 0.0 0.0 0.0
-------------------------------------------------------------------------------
Other profit and loss account items:
-------------------------------------------------------------------------------
Items which might be later transferred to P/L statement
-------------------------------------------------------------------------------
-------------------------------------------------------------------------
Foreign subsidiary translation differences 0.3 -0.4 -0.4
-------------------------------------------------------------------------------
Net change in fair value of available-for-sale
financial assets
----------------------------------------------------------- -------------
0.0 0.0 0.0
-------------------------------------------------------------------------
-------------------------------------------------------------------------------
Total comprehensive income -2.3 -0.7 -4.3
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
--------------------------------------------------------- -------
Net profit/loss attributable to:
-------------------------------------------------------------------------------
Owners of the Company -2.3 -0.7 -4.3
-------------------------------------------------------------------------------
Non-controlling interest 0.0 0.0 0.0
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
EARNINGS PER SHARE
-------------------------------------------------------------------------------
Earnings per share (EUR) -0.09 -0.02 -0.15
-------------------------------------------------------------------------------
Earnings per share diluted (EUR) -0.09 -0.01 -0.15
-------------------------------------------------------------------------------
BALANCE SHEET
--------------------------------------------------------------------------------
EUR million
--------------------------------------------------------------------------------
31.3.2016 31.3.2015 31.12.2015
--------------------------------------------------------------------------------
ASSETS
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Non-current assets
--------------------------------------------------------------------------------
Tangible assets 0.3 0.2 0.3
--------------------------------------------------------------------------------
Intangible assets 4.9 3.9 4.6
--------------------------------------------------------------------------------
Investments 0.0 0.0 0.0
--------------------------------------------------------------------------------
Total non-current assets 5.2 4.2 4.9
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Current assets
--------------------------------------------------------------------------------
Trade and other receivables 3.4 8.9 5.5
--------------------------------------------------------------------------------
Short-term financial assets 0.0 0.0 0.0
--------------------------------------------------------------------------------
Cash and cash equivalents 8.5 18.9 11.3
--------------------------------------------------------------------------------
Total current assets 11.9 27.8 16.8
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Total assets 17.1 32.0 21.8
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Shareholders' equity
--------------------------------------------------------------------------------
Equity attributable to the parent company 8.6 19.0 11.4
shareholders
total
--------------------------------------------------------------------------------
---------------------------------------------------------------------
Non-controlling interest 0.0 0.0 0.0
--------------------------------------------------------------------------------
Shareholders' equity total 8.6 19.0 11.4
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Non-current liabilities
--------------------------------------------------------------------------------
Provisions 0.0 0.0 0.0
--------------------------------------------------------------------------------
Non-current interest-bearing liabilities 0.0 0.0 0.0
--------------------------------------------------------------------------------
Total long-term liabilities 0.0 0.0 0.0
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Current liabilities 8.5 13.0 10.3
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Liabilities total 8.5 13.0 10.3
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Total equity and liabilities 17.1 32.0 21.8
--------------------------------------------------------------------------------
CASH FLOW STATEMENT
--------------------------------------------------------------------
EUR million 1-3/2016 1-3/2015 1-12/2015
--------------------------------------------------------------------
--------------------------------------------------------------------
Cash flow from business operations -1.2 1.7 0.3
--------------------------------------------------------------------
Cash flow from investments -0.7 -0.5 -2.6
--------------------------------------------------------------------
Cash flow from financing -0.9 11.7 7.4
--------------------------------------------------------------------
--------------------------------------------------------------------
Increase(+) / decrease(-) in cash -2.8 12.8 5.1
--------------------------------------------------------------------
--------------------------------------------------------------------
Cash at period start 11.3 6.1 6.1
--------------------------------------------------------------------
Effect of exchange rate -0.2 0.2 0.1
--------------------------------------------------------------------
Cash at period end 8.5 18.9 11.3
--------------------------------------------------------------------
STATEMENT ON
CHANGES IN
SHAREHOLDERS'
EQUITY
--------------------------------------------------------------------------------
EUR Share Fair Other Transla Fund Non-con Unrestricted Total
milli capit value fund + tion for trollin equity funds
on al reser other differ own g and retained
ves equity ence share intere earnings
fund s st
--------------------------------------------------------------------------------
Shareh 0.9 0.9 4.1 -1.7 0.0 0.0 3.6 7.9
olders
'
equit
y
Jan 1,
2015
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Change 0.1 11.7 -0.4 11.5
--------------------------------------------------------------------------------
Net -0.4 -0.4
profi
t
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Shareh 0.9 1.0 15.8 -2.0 0.0 0.0 3.3 19.0
olders
'
equit
y
Mar
31,
2015
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Change 0.0 0.3 -4.1 -0.1 -0.1 -3.9
--------------------------------------------------------------------------------
Net -3.6 -3.6
profi
t
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Shareh 0.9 1.4 11.7 -2.1 0.0 0.0 -0.5 11.4
olders
'
equit
y
Dec
31,
2015
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Change 0.1 0.3 -0.6 -0.2
--------------------------------------------------------------------------------
Net -2.6 -2.6
profi
t
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Shareh 0.9 1.5 11.7 -1.8 0.0 0.0 -3.7 8.6
olders
'
equit
y
Mar
31,
2016
--------------------------------------------------------------------------------
KEY FIGURES AND RATIOS
--------------------------------------------------------------------------------
EUR million 1-3/ 1-3/ 1-12/
2016 2015 2015
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Net sales 2.6 6.8 18.9
--------------------------------------------------------------------------------
Operating profit/loss -2.2 -0.4 -4.4
--------------------------------------------------------------------------------
Operating profit/loss as % of net sales -84.0 -5.4 -23.2
--------------------------------------------------------------------------------
Profit/loss before extraordinary items and taxes -2.6 -0.3 -3.9
--------------------------------------------------------------------------------
Profit/loss before extraordinary items and taxes as % of -98.9 -4.9 -20.4
net sales
--------------------------------------------------------------------------------
Profit/loss before taxes -2.6 -0.3 -3.9
--------------------------------------------------------------------------------
Profit/loss before taxes as % of net sales -98.9 -4.9 -20.4
--------------------------------------------------------------------------------
Return on equity (%) -26.4 -2.7 -40.4
--------------------------------------------------------------------------------
Return on investment (%) -26.0 -2.7 -39.9
--------------------------------------------------------------------------------
Interest-bearing net liabilities -8.5 -18.9 -11.3
--------------------------------------------------------------------------------
Equity ratio (%) 68.4 69.7 66.8
--------------------------------------------------------------------------------
Gearing (%) -99.0 -99.6 -98.8
--------------------------------------------------------------------------------
Gross capital expenditure 0.7 0.5 2.6
--------------------------------------------------------------------------------
% of net sales 25.9 8.1 13.7
--------------------------------------------------------------------------------
R&D expenses 1.7 1.2 5.1
--------------------------------------------------------------------------------
% of net sales 63.8 18.2 26.9
--------------------------------------------------------------------------------
Personnel period average 111 95 102
--------------------------------------------------------------------------------
Personnel period end 112 95 109
--------------------------------------------------------------------------------
Calculation for key figures and ratios are presented in 2015 financial
statement and annual report. There have not been changes in calculation rules
after that.
PER SHARE DATA
----------------------------------------------------------------------
EUR 1-3/ 1-3/ 1-12/
2016 2015 2015
----------------------------------------------------------------------
----------------------------------------------------------------------
Earnings per share undiluted* -0.09 -0.02 -0.15
----------------------------------------------------------------------
Earnings per share diluted* -0.09 -0.01 -0.15
----------------------------------------------------------------------
Equity per share 0.27 0.61 0.36
----------------------------------------------------------------------
No. of shares at period average (thousand) 31,370 30,974 31,068
----------------------------------------------------------------------
No. of shares at period end (thousand) 31,370 30,974 31,370
----------------------------------------------------------------------
Share performance
----------------------------------------------------------------------
Average price 3.51 3.71 4.50
----------------------------------------------------------------------
Low 2.92 2.52 2.52
----------------------------------------------------------------------
High 4.30 4.73 6.32
----------------------------------------------------------------------
Share price period end 3.49 4.73 3.02
----------------------------------------------------------------------
Market capitalization period end (EUR million) 109.5 146.5 94.7
----------------------------------------------------------------------
Volume of shares traded (million) 0.8 1.4 8.4
----------------------------------------------------------------------
Volume of shares traded as % of total 2.5 4.5 27.0
----------------------------------------------------------------------
Value of shares traded (EUR million) 2.7 5.1 37.7
----------------------------------------------------------------------
Price per earnings ratio (P/E) neg. neg. neg.
----------------------------------------------------------------------
Dividend per share 0.00 0.00 0.00
----------------------------------------------------------------------
Dividend per earnings, % 0.00 0.00 0.00
----------------------------------------------------------------------
Effective return on dividend, % 0.00 0.00 0.00
----------------------------------------------------------------------
* earnings per share is impacted by unpaid interest of hybrid capital securities
CONTINGENT LIABILITIES
-------------------------------------------------------------------------------
EUR million 31.3.2016 31.3.2015 31.12.2015
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Hybrid Loan, Interest 0.0 0.7 0.7
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Rent security deposits 0.1 0.1 0.1
-------------------------------------------------------------------------------
Leasing commitments outside the balance sheet
-------------------------------------------------------------------------------
Maturing within 1 year 0.5 0.4 0.5
-------------------------------------------------------------------------------
Maturing between 1 and 5 years 0.5 0.8 0.5
-------------------------------------------------------------------------------
DISCLAIMER
The content in this report is provided by SSH Communications Security and its
third party content providers for your personal information only. And does not
constitute an offer or invitation to purchase any securities. Nor does it
provide any form of advice (investment. tax. legal) amounting to investment
advice. Or make any recommendations regarding particular investments or
products. SSH Communications Security does not provide investment advice or
recommendations to buy or sell its shares or the shares of others. If you are
interested in investing in SSH Communications Security, please contact your
financial adviser for further details and information. Past performance of SSH
Communications Security shares is not indicative of future results. EXCEPT AS
PROVIDED BY APPLICABLE COMPULSORY LAW SSH COMMUNICATIONS SECURITY EXPRESSLY
DISCLAIMS ALL WARRANTIES, EXPRESSED OR IMPLIED. AS TO THE AVAILABILITY,
ACCURACY OR RELIABILITY OF ANY OF THE CONTENT PROVIDED, OR AS TO THE FITNESS OF
THE INFORMATION FOR ANY PURPOSE.
SSH Communications Security will release its next interim report for the period
January 1 – June 30, 2016 on July 21st, 2016.
Helsinki, April 21st, 2016
SSH COMMUNICATIONS SECURITY
Board of Directors
Tatu Ylönen
CEO
For further information, please contact:
Tatu Ylönen, CEO. tel. +358 20 500 7000
Jyrki Lalla, CFO, tel. +358 45 340 4641
Distribution:
NASDAQ OMX Helsinki Ltd.
Major media
www.SSH.com
© 2024 Nasdaq, Inc. All Rights Reserved |