2013-04-25 07:30:00 CEST
2013-04-25 07:30:14 CEST
REGULATED INFORMATION
Teleste - Interim report (Q1 and Q3)
TELESTE CORPORATION INTERIM REPORT 1 JAN TO 31 MARCH 2013
Turku, Finland, 2013-04-25 07:30 CEST (GLOBE NEWSWIRE) --
TELESTE CORPORATION INTERIM REPORT 25 APRIL 2013 AT 08:30
TELESTE CORPORATION INTERIM REPORT 1 JANUARY TO 31 MARCH 2013
YEAR-ON-YEAR DEMAND ON LOWER LEVEL AS EXPECTED, OUTLOOK UNCHANGED
Q1 of 2013
- Net sales amounted to EUR 45.8 (51.1) million, a decrease of 10.5%
- Operating profit stood at EUR 2.6 (2.9) million, a decrease of 11.4%
- Undiluted result per share was EUR 0.10 (0.12) per share, a decrease of 14.6%
- Orders received totaled EUR 43.4 (49.1) million, a decrease of 11.7%
- Operating cash flow was EUR 0.2 (5.0) million
Outlook for 2013
We expect net sales and operating profit for 2013 to reach the 2012 level. In
our assessment, net sales and operating profit for the first half of 2013 will
remain below the comparative period.
Comments on Q1 of 2013 by CEO Jukka Rinnevaara:"As estimated in our 2012 financial statement release, net sales and orders
received for the first quarter fell short of the comparative period. The
productivity improvement and adaptation measures launched in 2012 ensured a
reasonable operating profit.
In our estimate, the falling below the comparative period of Video and
Broadband Solutions' net sales was brought about by variation in timing of the
investments required for the growth in the operators' network capacity.
Deliveries and orders received of the reference period were affected by the
major sporting events in the summer of 2012. Video surveillance deliveries were
on good level. Deliveries of video surveillance solutions for the Chicago
Transit Authority (CTA) proceeded according to plan.
The decrease in Network Services' net sales was due to a drop in demand for the
German Internet connectivity and the cold winter, which prevented the
installation of fiber-optic projects in particular.
After the first quarter, on 8 April 2013, we acquired the share capital of the
UK based Asheridge companies. This acquisition complements the offering of
passive products and house network equipment by Video and Broadband Solutions,
strengthens our market position as well as provides Teleste with specific
technology required to eliminate disturbances in cable networks. The
acquisition does not yet have a significant impact on our 2013 net sales and
profitability.”
Group Operations in January to March 2013
Key figures (EUR million)
1-3/2013 1-3/2012 Change % 1-12/2012
Orders received 43.4 49.1 -11.7% 189.7
Net sales 45.8 51.1 -10.5% 193.9
Operating profit 2.6 2.9 -11.4% 10.9
Operating Profit, % 5.7% 5.7% 5.6%
Net profit 1.8 2.0 -11.2% 6.7
Other important key figures
Earnings per share, EUR 0.10 0.12 -14.6% 0.38
Cash flow from operations 0.2 5.0 -95.9% 15.3
Net gearing, % 17.8% 23.8% -25.2% 13.7%
Equity ratio, % 52.2% 43.5% 20.2% 50.5%
Personnel at period-end 1,342 1,321 1.6% 1,325
In the first quarter, orders received by the Group totaled EUR 43.4 (49.1)
million, which is 11.7% below the reference period. Order backlog totaled EUR
14.6 (19.2) million.
Net sales amounted to EUR 45.8 (51.1) million, which is 10.5% below the
comparable period. Compared to the same period in the previous year, operating
profit decreased by 11.4% standing at EUR 2.6 (2.9) million, which is 5.7%
(5.7%) of the net sales. Wages and salaries stood at EUR 14.4 (EUR 15.1)
million. Undiluted result per share was EUR 0.10 (0.12). Operating cash flow
stood at EUR 0.2 (5.0) million. This reduction in cash flow was due to a
decrease in non-interest bearing liabilities and weakened cycle time of
accounts receivable.
Video and Broadband Solutions in January to March 2013
Economic Development of Video and Broadband Solutions
1-3/2013 1-3/2012 Change % 1-12/2012
Orders received 21,419 26,390 -18.8% 97,730
Net sales 23,813 27,500 -13.4% 101,230
Operating profit 2,436 2,524 -3.5% 8,497
Operating Profit, % 10.2% 9.2% 8.4%
Orders received amounted to EUR 21.4 (26.4) million, which is 18.8% below the
comparable period. Order backlog totaled EUR 14.6 (19.2) million. Net sales
decreased by 13.4% to EUR 23.8 (27.5) million. This decrease in net sales and
orders received was due to variation in the timing of network investments.
Operating profit stood at EUR 2.4 (2.5) million making 10.2% (9.2%) of the net
sales. This relative improvement in the operating profit was brought about by
improvement in materials margin and cost adjustments.
R&D expenses were 2.4 (2.8) million, i.e. 10.1% (10.2%) of the business area's
net sales. Activated R&D expenses amounted to EUR 0.3 (0.3) million. Most of
the projects involved further development of product families in production and
customer-specific projects. Depreciation on R&D amounted to EUR 0.7 (0.5)
million.
Network Services in January to March 2013
Economic Development of Network Services
1-3/2013 1-3/2012 Change % 1-12/2012
Orders received 21,946 22,731 -3.5% 91,931
Net sales 21,946 23,631 -7.1% 92,645
Operating profit 166 413 -59.9% 2,439
Operating Profit, % 0.8% 1.7% 2.6%
Orders received for the first quarter totaled EUR 21.9 (22.7) million, which is
3.5% below the comparable period. Net sales decreased by 7.1% to EUR 21.9
(23.6) million. This fall in net sales was caused by a drop in demand for the
German Internet connectivity and the cold winter, which prevented the
installation of fiber-optic projects. Operating profit stood at EUR 0.2 (0.4)
million making 0.8% (1.7%) of the net sales. This year-on-year decline in the
operating profit was due to a decrease in net sales.
Personnel and Organization in January to March 2013
In the period under review, the Group had an annual average of 1,335 people
(1,316/2012, 1,252/2011), of whom 536 (560) were employed by Video and
Broadband Solutions, and 799 (756) by Network Services. At the end of the
review period, the Group had 1,342 (1,321/2012, 1,266/2011) people, of whom 73%
(72%/2012, 70%/2011) were working outside Finland. Employees stationed outside
Europe accounted for less than 5% of the Group's personnel.
In the last quarter of 2012 Teleste Corporation initiated codetermination
negotiations. In December 2012, the number of employees in Finland was adjusted
by a rotating temporary layoff. This rotating temporary layoff agreed in the
codetermination procedures can be extended until March 2014.
Wages and salaries decreased by 4.3% over the previous year and amounted to EUR
14.4 (15.1/2012, 12.5/2011) million. This decrease was due to the adjustment
measures in the Video and Broadband Solutions business area. Wages and salaries
for Network Services remained on the level of comparative period.
Investments and Product Development in January to March 2013
Investments by the Group for the period under review totaled EUR 0.6 (1.4)
million accounting for 1.3% (2.7%) of the net sales. Investments in product
development equaled EUR 0.3 (0.3) million. Investments of EUR 0.1 (0.6) million
were made under financial lease arrangements.
Financing and Capital Structure in January to March 2013
Operating cash flow stood at EUR 0.2 (5.0) million. This decrease in cash flow
from operations was due to reduction in non-interest bearing short-term debt,
as well as slowing down in the cycle time of accounts receivable. At the end of
the period under review, the amount of unused binding stand-by credits amounted
to EUR 19.0 (10.5) million. The credit limits are valid until August 2015.
The Group's equity ratio equaled 52.2% (43.5%) and net gearing 17.8% (23.8%).
Interest bearing debt on 31 March 2013 stood at EUR 22.0 (30.7) million.
Key Risks Faced by the 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 clients include European cable operators and
specified 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. Our customers' network investments vary based
on the relevant need for upgrading and their financial structure. Significant
part of Teleste's competition comes from the USA so the exchange rate of euro
up against the US dollar affects our competitiveness. 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 our customers'
investment plans. Furthermore, a weakening in the consumer purchasing power in
Europe could slow down the network investments by the cable operators.
Availability of components is subject to natural phenomena, such as floods and
earthquakes. Severe weather conditions have an impact on the business areas'
ability to deliver their products and services. Correct technological choices
and their timing are vital for our success.
Net sales of Network Services comes, for the most part, from a small number of
large European customers, so a significant change in the demand for our
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,
our ability to deliver and compete may be constrained by the adequacy of our
sub-contractor network capacity. Tender calculation and management of larger
projects with overall responsibility are complex and risky.
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. The Board of Directors annually reviews any essential
risks related to the company operation and their management. Risk management is
an integral part of the strategic and operational activities of the business
areas. Risks and their probability are reported to the Board in conjunction
with regular monthly reports.
The company has covered any major risks of loss involving the business areas
through insurance policies. Insurance will also cover credit loss risks related
to sales receivables. 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, 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. Teleste Incentive Oy has been merged with
Teleste Corporation. In Belgium, the company structure was streamlined.
Shares and Changes in Share Capital
On 31 March 2013, EM Group Oy was the largest single shareholder with a holding
of 23.44%.
In the period under review, the lowest company share price was EUR 3.88 (3.04)
and the highest was EUR 4.47 (4.44). Closing price on 31 March 2013 stood at
EUR 3.92 (4.20). According to Euroclear Finland Ltd the number of shareholders
at the end of the period under review was 5,245 (5,089). Foreign ownership
accounted for 5.9% (8.2%). From 1 January to 31 March 2013, trading with
Teleste share at NASDAQ OMX Helsinki amounted to EUR 3.5 (2.2) million. In the
period under review, 0.8 (0.6) million Teleste shares were traded on the stock
exchange.
At the end of March 2013, the Group held 1,302,985 of its own shares, of which
the parent company Teleste Corporation had 379,985 shares and the controlled
companies had 923,000 shares, respectively. At the end of the period, the
Group's holding of the total amount of shares amounted to 6.96% (6.96%).
On 31 March 2013, 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 began on the NASDAQ OMX Helsinki Ltd
on 2 April 2012. These options allow subscription for a maximum of 560,000
shares in the company.
Valid authorizations at the end of the review period:
- Authorization to purchase own shares: 1,400,000
- Disposal of own shares: 1,779,985, valid until the 2014 Annual General Meeting
- Issue of new shares: 5,000,000, valid until the 2014 Annual General Meeting
- Pursuant to the special rights granted by the company, the maximum number of
shares is 2,500,000; these special rights are included in the authorization to
issue 5,000,000 new shares.
The Board has not used the authorizations.
Events after the End of the Period
The Annual General Meeting (AGM) of Teleste Corporation on 12 April 2013
confirmed the financial statements for 2012 and discharged the Board of
Directors and the CEO from liability for the financial period. The AGM
confirmed the dividend of EUR 0.17 per share proposed by the Board. The
dividend was paid out on 24 April 2013.
Ms. Marjo Miettinen, Mr. Pertti Ervi, Mr. Esa Harju, Mr. Kai Telanne and Mr.
Petteri Walldén continue in Teleste's Board of Directors. Jannica Fagerholm was
elected new member of the Board of Directors. Pertti Raatikainen's membership
of the Board of Directors 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 Annual General Meeting authorized the Board to acquire by the 2014 Annual
General Meeting the maximum of 1,400,000 of the Company's own shares.
On 8 April 2013, Teleste acquired the entire share capital of Asheridge
companies, a provider of access network equipment for cable operators. The
impact of the acquisition on Teleste's net sales in 2013 is estimated to be
around five million euros, but the impact on Teleste's equity ratio and
profitability is not significant during the current fiscal year. This
acquisition increases the number of Teleste personnel by approximately 23. The
relevant acquisition cost calculation will be presented in the 2013 second
interim report.
Outlook for 2013
Given the new video services offered by the operators, there is a continuous
need for increased cable network capacity, so we estimate the deliveries by
Video and Broadband Solutions in our target markets to reach at least the 2012
level. In our view, investments by cable operators will be given more weight
during the second half of the year.
We estimate that Network Services' net sales in our target markets will reach
at least the 2012 level and that the profitability will improve from the 2012
level with the developments in productivity.
We expect net sales and operating profit for 2013 to reach the 2012 level. In
our assessment, net sales and operating profit for the first half of 2013 will
remain below the comparative period.
24 April 2013
Teleste Corporation Jukka Rinnevaara
The 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.Teleste has prepared this interim report applying the
same accounting principles as those described in detail in its 2012
consolidated financial statements. The data stated in this report is unaudited.
STATEMENT OF COMPREHENSIVE INCOME 1-3/2013 1-3/2012 Change % 1-12/2012
(tEUR)
Net Sales 45,759 51,130 -10.5 % 193,875
Other operating income 458 332 38.0 % 1,150
Materials and services -21,604 -25,854 -16.4 % -94,747
Personnel expenses -14,435 -15,084 -4.3 % -58,511
Other operating expenses -6,225 -6,210 0.2 % -25,753
Depreciation -1,351 -1,377 -1.9 % -5,078
Operating profit 2,602 2,937 -11.4 % 10,936
Financial income and expenses -82 -137 -40.1 % -821
Profit after financial items 2,520 2,800 -10.0 % 10,115
Profit before taxes 2,520 2,800 -10.0 % 10,115
Taxes -733 -787 -6.8 % -3,412
Net profit 1,787 2,013 -11.2 % 6,703
Attributable to:
Equity holders of the parent 1,787 2,013 -11.2 % 6,703
Earnings per share for result of the year attributable to the equity holders of
the parent
(expressed in € per share)
Basic 0.10 0.12 -14.6 % 0.38
Diluted 0.10 0.11 -11.4 % 0.38
Total comprehensive income for the period (tEUR)
Net profit 1,787 2,013 -11.2 % 6,703
Possible items with future net
profit effect
Translation differences 45 269 -83.3 % 631
Fair value reserve 24 14 71.4 % 144
Total comprehensive income for the 1,856 2,296 -19.2 % 7,478
period
Attributable to:
Equity holders of the parent 1,856 2,296 -19.2 % 7,478
STATEMENT OF FINANCIAL POSITION 31.3.2013 31.3.2012 Change % 31.12.2012
(tEUR)
Non-current assets
Property,plant,equipment 10,283 10,261 0.2 % 10,127
Goodwill 31,421 31,131 0.9 % 31,350
Other intangible assets 3,623 5,784 -37.4 % 4,174
Deferred tax assets 2,126 1,910 11.3 % 2,086
Available-for-sale investments 294 710 -58.6 % 294
47,747 49,796 -4.1 % 48,031
Current assets
Inventories 18,337 23,075 -20.5 % 19,495
Trade and other receivables 42,697 43,143 -1.0 % 38,811
Cash and cash equivalents 10,862 16,942 -35.9 % 13,880
71,896 83,160 -13.5 % 72,186
Total assets 119,643 132,956 -10.0 % 120,217
Shareholder's equity and liabilities
Share capital 6,967 6,967 0.0 % 6,967
Other equity 54,785 50,057 9.4 % 52,912
Non-controlling interest 661 605 9.3 % 678
62,413 57,629 8.3 % 60,557
Non-current liabilities
Provisions 503 605 -16.9 % 503
Deferred tax liabilities 1,297 2,071 -37.4 % 1,297
Non interest bearing liabilities 0 4,015 -100.0 % 22
Interest-bearing liabilities 683 12,347 -94.5 % 788
2,483 19,038 -87.0 % 2,610
Current liabilities
Trade payables and other 30,632 35,552 -13.8 % 32,612
liabilities
Current tax payable 1,928 1,223 57.6 % 2,075
Provisions 909 1,211 -24.9 % 1,004
Interest-bearing liabilities 21,278 18,303 16.3 % 21,360
54,747 56,289 -2.7 % 57,051
Total shareholder's equity and 119,643 132,956 -10.0 % 120,217
liabilities
CONSOLIDATED CASH FLOW STATEMENT (tEUR) 1-3/201 1-3/201 Change 1-12/201
3 2 % 2
Cash flows from operating activities
Profit for the period 1,787 2,013 -11.2 % 6,703
Adjustments 2,166 2,355 -8.0 % 9,110
Interest and other financial expenses -82 -137 -40.1 % -397
and incomes
Paid Taxes -880 -987 -10.8 % -4,290
Change in working capital -2,790 1,710 n/a 4,171
Cash flow from operating activities 201 4,954 -95.9% 15,297
Cash flow from investing activities
Acquisition of subsidiary, net of cash -2,586 300 n/a -828
acquired
Purchases of property, plant and -189 -582 -67.5 % -1,110
equipment (PPE)
Purchases of intangible assets -293 -280 4.6 % -844
Net cash used in investing activities -3,068 -562 445.9 % -2,782
Cash flow from financing activities
Payments of borrowings -197 -3,123 -93.7 % -11,821
Dividends paid 0 0 n/a -2,440
Net cash used in financing activities -197 -3,123 -93.7 % -14,261
Change in cash
Cash in the beginning 13,880 15,404 -9.9 % 15,404
Effect of currency changes 46 269 -82.9% 221
Change -3,064 1,269 n/a -1,746
Cash at the end 10,862 16,942 -35.9% 13,880
KEY FIGURES 1-3/2013 1-3/2012 Change % 1-12/2012
Earnings per share, EUR 0.10 0.12 -11.2 % 0.38
Earnings per share fully diluted, 0.10 0.11 -11.3 % 0.38
EUR
Shareholders' equity per share, EUR 3.58 3.31 8.3 % 3.48
Return on equity 11.6 % 14.3 % -18.5 % 11.6 %
Return on capital employed 12.6 % 13.6 % -7.2 % 13.0 %
Equity ratio 52.2 % 43.5 % 20.2 % 50.5 %
Gearing 17.8 % 23.8 % -25.2 % 13.7 %
Investments, tEUR 579 1,374 -57.9 % 3,325
Investments % of net sales 1.3 % 2.7 % -52.9 % 1.7 %
Order backlog, tEUR 14,606 19,191 -23.9 % 17,000
Personnel, average 1,335 1,316 1.4 % 1,326
Number of shares (thousands) 18,729 18,729 0.0 % 18,729
including own shares
Highest share price, EUR 4.47 4.44 0.7 % 4.44
Lowest share price, EUR 3.88 3.04 27.6 % 3.04
Average share price, EUR 4.21 3.98 5.8 % 3.98
Turnover, in million shares 0.8 0.6 49.2 % 2.7
Turnover, in MEUR 3.5 2.2 58.8 % 10.8
Treasury shares
Number % of % of
of shares shares votes
Teleste companies own shares 1,302,985 6.96% 6.96%
31.3.2013
Contingent liabilities and pledged assets (tEUR)
Leasing and rent liabilities 7,782 8,594 -9.4 % 8,528
Derivative instruments (tEUR)
Value of underlying forward 8,107 8,054 0.7 % 5,936
contracts
Market value of forward contracts 296 -220 n/a -109
Interest rate swap 11,000 11,500 -4.3 % 9,000
Market value of interest swap 2 -152 n/a -22
Taxes are computed on the basis of the tax on the profit for the period.
OPERATING SEGMENTS (tEUR) 1-3/2013 1-3/2012 Change % 1-12/2012
Video and Broadband Solutions
Orders received 21,419 26,390 -18.8 % 97,730
Net sales 23,813 27,500 -13.4 % 101,230
EBIT 2,436 2,524 -3.5 % 8,497
EBIT% 10.2 % 9.2 % 8.4 %
Network Services
Orders received 21,946 22,731 -3.5 % 91,931
Net sales 21,946 23,631 -7.1 % 92,645
EBIT 166 413 -59.9 % 2,439
EBIT% 0.8 % 1.7 % 2.6 %
Total
Orders received 43,365 49,121 -11.7 % 189,661
Net sales 45,759 51,130 -10.5 % 193,875
EBIT 2,602 2,937 -11.4 % 10,936
EBIT% 5.7 % 5.7 % 5.6 %
Financial items -82 -137 -40.1 % -821
Operating segments net profit before 2,520 2,800 -10.0 % 10,115
taxes
Information per quarter 1-3/13 10-12/12 7-9/12 4-6/12 1-3/12 4/2012-
(tEUR) 3/2013
Video and Broadband Solutions
Orders received 21,419 27,830 19,720 23,790 26,390 92,759
Net sales 23,813 24,659 24,794 24,278 27,500 97,544
EBIT 2,436 2,002 2,423 1,548 2,524 8,409
EBIT % 10.2 % 8.1 % 9.8 % 6.4 % 9.2 % 8.6 %
Network Services
Orders received 21,946 22,995 20,796 25,409 22,731 91,146
Net sales 21,946 22,809 20,796 25,409 23,631 90,960
EBIT 166 706 448 872 413 2,192
EBIT % 0.8 % 3.1 % 2.2 % 3.4 % 1.7 % 2.4 %
Total
Orders received 43,365 50,825 40,516 49,199 49,121 183,905
Net sales 45,759 47,468 45,590 49,687 51,131 188,504
EBIT 2,602 2,708 2,871 2,420 2,937 10,601
EBIT % 5.7 % 5.7 % 6.3 % 4.9 % 5.7 % 5.6 %
Attributable to equity holders of the parent (tEUR)
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
Attributable to A B C D E F G H I
equity holders of
the parent (tEUR)
Shareholder's 6,967 1,504 685 48,007 2,737 -22 59,878 678 60,557
equity 1.1.2013
Total comprehensive 45 1,787 24 1,856 0 1,856
income for the
period
Interest, non 17 17 -17 0
controll party
Equity-settled 0 0 0 0 0 0
share-based
payments
Shareholder's 6,967 1,504 730 49,794 2,737 2 61,734 661 62,413
equity 31.3.2013
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
Interest, non 17 17 -17 0
controll party
Equity-settled 56 0 0 56 0 56
share-based
payments
Shareholder's 6,967 1,504 323 45,645 2,737 -152 57,024 606 57,630
equity 31.3.2012
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 31.3.2013 Shares %
EM Group Oy 4,389,712 23.44
Mandatum Life 1,679,200 8.97
Ilmarinen Mutual Pension Insurance Company 953,854 5.09
Kaleva Mutual Insurance Company 824,641 4.40
OP-Suomi Small Cap 562,761 3.00
Teleste Management II Oy 542,000 2.89
Varma Mutual Pension Insurance Company 521,150 2.78
State Pension Fund 500,000 2.67
Teleste Management Oy 381,000 2.03
Teleste Oyj 379,985 2.03
Sector Dispersion 31.3.2013 Shareholders % Shares %
Corporations 294 5.60 7,252,006 38.72
Financial and insurance corporations 9 0.17 3,348,866 17.88
Public institutions 6 0.11 2,015,104 10.75
Non-profit institutions 37 0.70 385,929 2.06
Households 4,852 92.50 4,623,889 24.68
Foreign countries and nominee 47 0.89 1,102,796 5.88
registered
Total 5,245 100.00 18,728,590 100.00
Amount of shares 31.3.2013 Shareholders % Shares %
0 - 100 1,158 22.07 79,491 0.42
101 - 1,000 3,075 58.62 1,293,611 6.90
1,001 - 10,000 920 17.54 2,499,861 13.34
10,001 - 100,000 70 1.33 1,612,055 8.60
100,001 - 1,000,000 20 0.38 7,174,660 38.30
1,000,001 - 2 0.03 6,068,912 32.40
Total 5,245 100.00 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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