2016-08-17 09:00:01 CEST
2016-08-17 09:00:01 CEST
REGULATED INFORMATION
Plc Uutechnic Group Oyj - Half Year financial report
UUTECHNIC GROUP’S HALF YEAR FINANCIAL REPORT FOR 1 JANUARY – 30 JUNE 2016
Helsinki, Finland, 2016-08-17 09:00 CEST (GLOBE NEWSWIRE) -- PLC UUTECHNIC
GROUP OYJ HALF YEAR FINANCIAL REPORT AUGUST 17, 2016 at 10:00 am
UUTECHNIC GROUP’S HALF YEAR FINANCIAL REPORT FOR 1 JANUARY – 30 JUNE 2016
TURNOVER AND OPERATING PROFIT IMPROVED – ALL UNITS RECORDED A POSITIVE RESULT
Uutechnic Group’s turnover for 1 January – 30 June 2016 was EUR 16.9 million
(1.7 million), and its operating profit was EUR 1.06 million (0.38 million).
The Group’s order book stood at EUR 19.5 million on 30 June 2016. The
comparable order book for 2015 was EUR 14.5 million.
The business arrangement carried out in the Group in 2015 was recognised as a
reverse acquisition in the Group’s IFRS financial statements. For this reason,
the comparison figures for the previous financial year presented in the half
year financial report on 30 June 2016 are figures concerning Uutechnic Oy
before the demerger. The consolidated figures for 2015 presented in the half
year financial report are not comparable to the Group’s previous reporting. As
applicable, the combined figures for Uutechnic Oy, Japrotek Oy Ab, Stelzer
Rührtechnik Int and AP-Tela Oy – the Group units engaged in business operations
– are presented as comparable figures for 2015. Any figures for 2015 with no
mention of comparability are figures for Uutechnic Oy.
KEY EVENTS IN 1 JANUARY – 30 JUNE 2016
Martti Heikkilä, CEO of Uutechnic Group says that a new group of companies
created through a merger in October 2015 was well-received in the market. Our
customers have shown that they trust our Group’s ability to deliver
high-quality process equipment, agitators, complex tanks and columns, as well
as combinations of these, to the process industry. Our thick-walled, welded and
machined steel pipes, as well as our rolls for the paper, energy and crane
industries, have found their customers. Our order book developed favourably
during the first half of the year, and all of our subsidiaries recorded a
positive result over that period of time.
The efficiency programmes that had been started within the Group, aiming at
total savings of EUR 1.5 million per year compared to 2015, progressed as
planned during the review period and continue to be implemented. The Group is
also continuing to review and streamline its companies’ processes.
The business environment has remained challenging globally. The competitive
situation is intensifying in the standard tank and agitator markets. However,
with regard to complex process industry projects, customers trust experience
and strong expertise. In a challenging business environment, our
cost-efficiency continues to be a key factor in terms of profitable and
competitive business operations.
Of the industries that are important for Uutechnic Group, investments in the
paper and pulp industry continue to create opportunities for new orders,
whereas investments in the mining and mineral processing industries are at a
low level. Replacement investments are about to be carried out in the chemical,
fertiliser, food and pharmaceutical industries. However, as an agile operator,
Uutechnic Group is well-positioned for profitable business operations even in a
challenging market situation.
NEW ORDERS AND ORDER BOOK
During the review period, the Group’s subsidiaries received significant new
orders. At the end of the period, the order book stood at a good level,
totaling EUR 19.5 million. The comparable order book for 2015 was EUR 14.5
million.
TURNOVER
The Group’s turnover for the review period was EUR 16.9 million. Its comparable
turnover for 2015 was EUR 13.9 million. Finland represented 45% of the Group’s
turnover, including indirect exports. The rest of Europe constituted 45%, Asia
constituted 9% and North America constituted 1% of its turnover.
RESULT AND PROFITABILITY
The Group’s operating result for the review period was EUR 1.06 million (0.38
million) and the result of the review period was EUR 0.70 million (0.85
million). The Group’s earnings per share were EUR 0.01. All of its business
units recorded a positive result for the review period. This was partly due to
the fact that the efficiency programmes that were started during the fiscal
period progressed as planned.
CASH FLOW AND BALANCE SHEET
The Group’s cash flow from operations for the review period was EUR 0.74
million (0.80 million), and its cash flow from investing activities was EUR
-0.70 million (0,00 million). Most of the investments were investments in fixed
assets related to AP-Tela Oy and Japrotek Oy Ab. At the end of the review
period, the Group’s interest-bearing liabilities stood at EUR 5.3 million, of
which EUR 2 million was attributable to subordinated loans from owners. The
consolidated balance sheet stood at EUR 25.8 million (7.1 million). The
Group’s equity ratio was 58.2% (91.9%).
CHANGE IN GROUP STRUCTURE
In its financial statements for 2015, the Group announced the planned merger of
Steva Oy with Uutechnic Oy. The merger was implemented on 30 June 2016. The
Group has also decided to centralise its agitator production in Finland in
Uusikaupunki. With regard to this, a stock exchange release was issued on 21
June 2016.
SUBSIDIARIES
AP-Tela Oy’s order book remained at a good level during the review period. In
January, the company secured the largest order in its history. The order was
placed by Valmet and included the design and manufacture of 27 massive drying
cylinders. The order will be delivered in the fourth quarter of 2016. With
regard to operational development at AP-Tela, special attention will be paid to
production lead times. AP-Tela’s turnover increased during the first half of
the year, and its operating result was positive.
Japrotek Oy Ab had a challenging first half of 2016 due to a low order book.
Towards the summer, its order book improved considerably. Japrotek Oy Ab
received significant orders, including orders from Kemapco for the fertiliser
industry in Jordan, a client producing tall oil in Sweden and a Finnish
equipment manufacturer for the nuclear power industry, as well as an order for
a turnkey delivery of a crystallisation plant for the Joutseno plant of Kemira.
The company has deliveries booked until 2018. Its turnover increased
year-on-year. The company started an efficiency programme in early 2016, and
it was implemented as planned during the review period. The company’s
operations were clearly loss-making in 2015 but turned positive during the
first half of 2016.
Stelzer Rührtechnik Int GmbH faced intensified competition in its traditional
areas of operation, and its challenges in the first half of 2016 also included
unevenly distributed agitator deliveries. However, the company was able to cut
costs in response to the slow beginning of the year. Its turnover increased,
and its operating result was positive.
Uutechnic Oy had a good first half of the year, with its turnover growing
despite the lack of major projects. Its profitability remained at a very good
level.
RESEARCH AND PRODUCT DEVELOPMENT
Research and product development expenses are recognised as an annual cost. The
Group’s research and development operations are customer-oriented and mainly
focus on the development of customers’ production results and processes.
PERSONNEL
On 30 June 2016, Uutechnic Group had 189 employees, of whom 77 were
professional and managerial employees and 112 were production employees. At the
beginning of the period, the Group had 179 employees. The increase is due to an
increase in the number of production employees.
BOARD OF DIRECTORS AND CEO
On 28 April 2016, the Annual General Meeting re-elected Sami Alatalo and Jouko
Peräaho as Board members and elected Hannu Kottonen and Kristiina Lagerstedt as
new Board members. The new members are independent of the company and its major
shareholders. Jouko Peräaho continues to serve as Chair of the Board, with Sami
Alatalo as Vice Chair.
Martti Heikkilä has served as the CEO of the company since 1 December 2015.
Ismo Haaparanta was appointed as Deputy CEO of the Group as of 18 January 2016.
He is responsible for the Group’s business development and HR.
EVENTS DURING THE REVIEW PERIOD
Plc Uutechnic Group Oyj issued the following stock exchange releases during the
review period:
12 January 2016 – Mr Ismo Haaparanta Has Been Appointed as Deputy CEO of
Uutechnic Group
14 January 2016 – All the Shares of Plc Uutechnic Group Oyj’s Directed Share
Issue Have Been Subscribed for
20 January 2016 – The New Shares of Plc Uutechnic Group Oyj Registered with the
Trade Register
20 January 2016 – Disclosure of Change in Shareholdings Under Chapter 9,
Section 10 of the Securities Markets Act
26 January 2016 – Japrotek Oy Ab, a Subsidiary of Uutechnic Group, Starts
Co-determination Negotiations
29 January 2016 – Uutechnic Group Delivers Drying Cylinders to Valmet
11 February 2016 – Advance Information about Uutechnic Group’s Result for 2015
17 February 2016 – Japrotek Oy Ab, a Subsidiary of Uutechnic Group, Concludes
Co-determination Negotiations
26 February 2016 – Uutechnic Group’s Order Backlog Has Progressed Favourably
during the First Months of the Year 2016
11 March 2016 – Review of Uutechnic Group’s Financial Statements for 1 January
– 31 December 2015
7 April 2016 – Plc Uutechnic Group Oyj’s Annual Report for the Fiscal Period 1
January to 31 December 2015 Has Been Published
7 April 2016 – Invitation to the Annual General Meeting
28 April 2016 – The Annual General Meeting of Plc Uutechnic Group Oyj Held on
28 April 2016
3 May 2016 – Uutechnic Group Received New Orders Worth over EUR 5 Million
6 June 2016 – Uutechnic Group Received a Significant Order
6 June 2016 – The Board of Directors of Plc Uutechnic Group Oyj Decided to
Carry out a Share Issue Directed to the Personnel and Management
21 June 2016 – Uutechnic Group Will Centralise Agitator Production in Finland
in Uusikaupunki
22 June 2016 – The Lessor of Japrotek Oy Ab Changes
RELATED-PARTY EVENTS
On 22 June 2016, the company announced that the lessor of the facilities of
Japrotek Oy Ab, a subsidiary of the Group, would divest the facilities in
Pietarsaari and the new lessor would be Uurec Holding Oy. The terms and
conditions of the lease agreement remained unchanged. Uurec Holding Oy is owned
by Saola Invest Oy and UuCap Oy, which are companies controlled by Sami
Alatalo, Timo Lindström and Jouko Peräaho.
SHARES AND SHAREHOLDERS
At the beginning of the review period, the total number of shares and votes in
Plc Uutechnic Group Oyj was 25,963,210. The shares subscribed for during the
directed share issue carried out in late 2015 were entered into the Trade
Register on 20 January 2016. The total number of these shares was 30,000,000,
which increased the total number of shares and votes in Plc Uutechnic Group Oyj
to 55,963,210.
On 30 June 2016, the company had 1,380 shareholders (1,045 at the beginning of
the review period).
The total number of shares owned directly or through controlled companies by
the Board of Directors, CEO and Group Management Team at the end of the review
period was 22,393, or 40.0% of all shares.
Shares in Plc Uutechnic Group Oyj are listed on the Nasdaq Helsinki. Their
trading code is UUTEC, and their ISIN code is FI0009900708.
Plc Uutechnic Group Oyj did not pay dividends during the review period.
AUTHORISATION AND SHARE ISSUE
The Annual General Meeting of 28 April 2016 authorised the Board of Directors
to decide on the issue of new shares and other special rights that entitle
their holders to subscribe for shares in accordance with Chapter 10, Section 1
of the Limited Liability Companies Act, in one or more instalments. The Board
is authorised to issue a maximum of 10,000,000 new shares, including shares
based on special rights.
Of the shares and special rights covered by the authorisation, a maximum of
1,000,000 shares may be directed to the Group’s personnel and Board of
Directors, including shares based on special rights. Of these shares, including
shares based on special rights, a maximum of 200,000 may be directed to the
members of the Board of Directors. In a share issue directed to the Group’s
personnel and Board of Directors, the subscription price of the share must be
at least its market price less 10%, and at least its market price if shares are
subscribed for based on special rights. The market price is the average price
of the share on the Nasdaq Helsinki for the calendar month preceding the
decision to issue shares or special rights. The authorisation entitles the
Board to decide on any other terms and conditions for the issuance of shares
and special rights, including any deviations from the shareholders’ pre-emptive
right.
On 6 June 2016, the company announced that its Board of Directors had decided
to carry out a share issue directed to its personnel and management. The
subscription period ran from 20 June to 12 August 2016.
GOVERNANCE
Plc Uutechnic Group Oyj has complied with the Finnish Corporate Governance Code
2015 since 1 January 2016. The Finnish Corporate Governance Code 2015 was
issued by the Securities Market Association on 1 October 2015.
SIGNIFICANT RISKS AND UNCERTAINTY FACTORS AND THEIR MANAGEMENT
The demand for Uutechnic Group’s products is dependent on trends and
developments in the global economy and the Group’s customer industries, thereby
posing a general external risk to its operations. The Group seeks to mitigate
the risks arising from changes in demand by targeting its sales operations in
line with current trends in various market areas and customer industries.
According to the Board of Directors of the Group’s parent company, other
significant risks and uncertainty factors to which the Group is exposed are
related to at least the following aspects:
The profitable business operations of the Group’s previously loss-making units
require the continuous improvement of their competitive ability and the
achievement of sufficient business volumes, as well as the continued successful
integration of operational development into operations.
Part of the Group’s business operations consist of major or large project
deliveries. Extensive and complicated projects involve the risk that the future
costs and any other risks related to the delivery cannot be estimated
sufficiently accurately in the bidding phase. In such cases, the result of the
project may prove weaker than expected.
Unfavourable changes in the financial markets may have an effect on the
availability of financing for customers’ investments, the Group’s result and
the availability of equity and debt financing at competitive terms.
The Group seeks to protect itself against risks using all measures that can
reasonably be implemented. Such measures include measures aiming for the
improvement of profitability and productivity, training for employees,
guidelines and instructions, insurance policies, critical examination of the
terms and conditions of commercial agreements and continuous, systematic
monitoring of operations.
OUTLOOK
In 2016, the main goal is to improve performance ability in all of the Group’s
units and harmonise its corporate culture and operating methods.
Due to the Group’s efficiency programmes and the favourable development of its
order book, its turnover in 2016 is expected to be over EUR 35 million. All of
its units are expected to record positive results, and the Group’s operating
result is expected to be EUR 2.2 to 2.4 million.
EVENTS AFTER THE END OF THE REVIEW PERIOD
On August 16, 2016 the company announced that unlike previously announced Plc
Uutechnic Group Oyj will publish the Half year financial report from 1.1. -
30.6.2016 on August 17, 2016.
ACCOUNTING PRINCIPLES
This half year financial report was prepared in accordance with the IAS 34
standard. It does not include all of the notes or other information to be
presented with financial statements. For this reason, the half year financial
report should be read together with the financial statements for 2015.
The half year financial report was prepared in line with the accounting
principles presented in the financial statements for 2015.
The information included in this half year financial report has not been
audited. The figures are presented in thousands of euros (EUR 1,000), unless
otherwise mentioned.
The business arrangement carried out in the Group in 2015 was recognised as a
reverse acquisition in the Group’s IFRS financial statements. For this reason,
the comparison figures for the previous financial year presented in the half
year financial report on 30 June 2016 are figures concerning Uutechnic Oy.
KEY FIGURES
1.1.-30.6.16 1.1.-30.6.15 1.1.-31.12.15
1 000 EUR 6 months 6 months 12 months
Turnover, continuing operations 16 942 1 681 8 859
Operating profit/loss, continuing 1 065 379 1 186
operations
% of turnover 6,3 22,5 13,4
Profit/Loss before taxes, continuing 702 379 810
operations
% of turnover 4,1 22,5 0,3
Profit or loss for the period fron 0 551 245
the discontinuing operations
Earnings per share calculated on 705 930 987
profit attributable to equity
holders of the parent
% of turnover 4,2 55,3 11,1
Return on equity (ROE), % 2) 14,2 14,0 12,4
Return on investment (ROI), % 2) 11,0 17,9 13,5
Equity ratio, % 58,2 91,9 68,0
Current ratio 1,3 -1,3 1,4
Net gearing 46,7 -81,3 50,5
Gross investments in fixed assets 703 0 41
% of turnover 4,1 0,0 0,0
Order backlog, continuing operations 19 495 0 11 680
Consolidated balance sheet total 25 838 297 22 179
Total number of personnel at the end 189 14 179
of the period
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME, IFRS
1 000 EUR 1.1.-30.6.2016 1.1.-30.6.2015 1.1.-31.12.2015
6 months 6 months 12 months
CONTINIUING OPERATIONS
NET TURNOVER 16 942 1 681 8 859
Change in finished goods and 1 124 52 -477
work in progress
Production for own use
Other operating income 60 12 34
Material and services 9 597 705 3 522
Employee benefit expenses 5 558 450 2 481
Depreciations 274 26 137
Other operating expenses 2 314 186 1 089
OPERATING PROFIT OR LOSS 1 065 379 1 186
Depreciation, amortiztion and 228 0 76
impairment loss of acqisition
Financing expenses 135 0 300
PROFIT OR LOSS BEFORE TAXES 702 379 810
Tax on income from operations -3 82 102
PROFIT OR LOSS FOR THE FISCAL 705 297 709
YEAR FROM THE CONTINUING
OPERATIONS
DISCONTINUING OPERATIONS
Profit of loss for the fiscal 0 551 245
year from the discontinuing
operations
PROFIT OR LOSS FOR THE FISCAL 705 848 954
YEAR
OTHER COMPREHENSIVE INCOME:
Translation differences 0 0 33
Other comprehensive income, net 0 0 33
of tax
TOTAL COMPREHENSIVE INCOME 705 848 987
NET PROFIT OR LOSS
ATTRIBUTABLE:
Equity holders of the parent 705 297 709
TOTAL COMPREHENSIVE INCOME
ATTRIBUTABLE:
Equity holders of the parent 705 848 987
Earnings per share calculated on profit
attributable to equity holders of the parent:
EPS undiluted, euros/share, continuing 0,01 2 965,61 0,02
operations
EPS diluted, euros/share, continuing 0,01 2 965,61 0,02
operations
EPS undiluted, euros/share, cdisontinuing 0,00 5 510,96 0,01
operations
EPS diluted, euros/share, discontinuing 0,00 5 510,96 0,01
operations
EPS undiluted, euros/share 0,01 8 476,57 0,03
EPS diluted, euros/share 0,01 8 476,57 0,03
Average number of shares
-undiluted 55 963 210 100 29 516 938
-diluted 55 963 210 100 29 516 938
CONSOLIDATED BALANCE SHEET,
IFRS
1 000 EUR 30.6.2016 30.6.2015 31.12.2015
ASSETS
NON-CURRENT ASSETS
Intangible assets 2 126 5 2 262
Goodwill 3 534 0 3 534
Tangible assets 5 630 142 5 295
Available for sale 25 0 25
investments
NON-CURRENT ASSETS 11 315 147 11 115
CURRENT ASSETS
Inventories 3 905 298 2 684
Trade receivables and other 4 092 425 1 223
receivables
Current receivables for 5 828 0 6 478
revenue recognized in part
prior to project completion
Tax receivable, income tax 153 0 0
Cash and bank 545 686 679
CURRENT ASSETS 14 523 1 408 11 063
NON-CURRENT ASSETS HELD FOR 0 5 537 0
SALE
ASSETS 25 838 7 092 22 179
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY
Share capital 2 872 17 2 872
Share premium account 6 0 6
Fair value reserve and other 6 120 0 6 120
reserves
Translation differences 33 0 33
Retained earnings 1 177 6 020 6 126
Retained earnings to be 0 0 -5 654
transferred to uncontinued
business
SHAREHOLDERS' EQUITY 10 208 6 037 9 504
NON-CURRENT LIABILITIES
Deferred tax liability 474 0 525
Subordinated loans 2 000 0 2 000
Long-term liabilities, 2 000 2 000
interest-bearing
Non-current provisions 298 0 263
NON-CURRENT LIABILITIES 4 772 0 4 788
CURRENT LIABILITIES
Short-term liabilities, 1 310 0 1 482
interest-bearing
Trade payables and other 9 548 808 6 360
liabilities
Tax liability, income tax 0 20 10
Current provisions 0 14 35
CURRENT LIABILITIES 10 858 842 7 887
LIABILITIES OF DISPOSAL GROUP
HELD FOR SALE
Interest-free liabilities 0 214 0
held for sale
LIABILITIES OF DISPOSAL GROUP 0 214 0
HELD FOR SALE
EQUITY AND LIABILITIES 25 838 7 092 22 179
In conjunction with the financing arrangement made in the fiscal year 2015, the
loans granted by Mikko Laakkonen and Hannu Laakkonen, totalling EUR 2.0
million, were converted into unsecured subordinated loans. These loans are
subordinated loans in accordance with chapter 12 of the Limited Liability
Companies Act, and their capital repayments and interest payments must meet the
conditions provided in the Act. The loans will be repaid as a one-off payment
on 31 December 2019. However, the company is entitled to pay early. The annual
interest rate on the outstanding loan capital is 4%. Of the total loan capital,
EUR 1 million involves a specific right of exchange. To the extent that loan
capital remains unpaid on 31 December 2017, the creditors are entitled to
convert EUR 1 million of the capital, in part or in full, into shares in the
company at a value of EUR 0.25. This right of exchange is based on the
authorisation to issue shares that was approved by the company’s Annual General
Meeting on 14 April 2015.
CONSOLIDATED FLOW OF FUNDS STATEMENT, IFRS
1 000 EUR 1.1.-30.6.2016 1.1.-30.6.2015 1.1.-31.12.2015
FLOW OF FUNDS FROM
OPERATIONS:
Profit or loss before 702 379 810
taxes, continuing
operations
Profit or loss before 0 704 306
taxes, discontinued
operations
Adjustments:
Depreciations 274 40 151
Depreciation, amortiztion 228 0 76
and impairment loss of
acqisition
Other income and expenses, -70 -164 -499
no payment related
Financing income and 135 -171 91
expenses
Flow of funds from 1 269 788 936
operations before the
change in working capital
Change in working capital: 0 0 0
Change in short-term -2 308 -200 -745
receivables
Change in inventories -1 220 -78 297
Change in short-term 3 238 294 -602
non-interest-bearing
creditors
Flow of funds from 979 803 -115
operations before
financial items and taxes
Interests and other -125 -14 -49
financial expenses from
operations paid
Interests and other 0 91 246
financial income received
Income taxes paid -113 -81 -176
FLOW OF FUNDS FROM 741 799 -94
OPERATIONS
FLOW OF FUNDS FROM
INVESTMENTS:
Investments in tangible -702 0 -42
and intangible assets
Income from sales of 0 0 25
tangible and intangible
assets
FLOW OF FUNDS FROM -702 0 -16
INVESTMENTS
FLOW OF FUNDS FROM
FINANCIAL ITEMS:
Share issue 0 0 1 500
Dividends paid
Repayments of short-term -605 0 -2 750
loans
Withdrawals of short-term 434 0 2 000
loans
FLOW OF FUNDS FROM -172 -700 50
FINANCIAL ITEMS
Change of liquid funds -133 99 -61
Liquid assets at the 679 587 587
beginning of the fiscal
year
Liquid assets received in 0 0 438
connection with the
aquisition
Liquid assets to be 0 0 -286
transferred to
uncontinued operations
Liquid assets at the end 545 686 679
of the fiscal year
Change in liquid assets -133 99 -61
according to the balance
sheet
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY, IFRS
1 000 EUR
Change in Share Share Unrestric Reserv Translat Retain Total
shareholders' capita premium ted e fund ion ed
equity l account equity differen earnin
1.1.-30.6.2016 reserve ces gs
Shareholders' 2 872 6 6 120 0 33 472 9 504
equity at the
beginning of the
fiscal period
Comprehensive
income:
Profit or loss for 705 705
the period
Translation 0 0 0
differences
Total 0 705 705
comprehensive
income
Transactions with
owners:
Transactions with 0 0 0 0 0 0 0
owners total
Shareholders' 2 872 6 6 120 0 33 1 177 10 208
equity at the end
of the fiscal
period
Change in Share Share Unrestric Reserv Translat Retain Total
shareholders' capita premium ted e fund ion ed
equity l account equity differen earnin
1.1.-30.6.2015 reserve ces gs
Shareholders' 17 0 0 0 0 5 872 5 889
equity at the
beginning of the
fiscal period
Comprehensive
income:
Profit or loss for 848 848
the period
Translation 0
differences
Total 0 0 0 0 0 848 848
comprehensive
income
Transactions with 0
owners:
Dividend 0 -700 -700
distribution
Transactions with 0 0 0 0 0 -700 -700
owners total
Shareholders' 17 0 0 0 0 6 020 6 037
equity at the end
of the fiscal
period
Change in Share Share Unrestric Reserv Translat Retain Total
shareholders' capita premium ted e fund ion ed
equity l account equity differen earnin
1.1.-31.12.2015 reserve ces gs
Shareholders' 17 0 0 0 0 5 872 5 889
equity at the
beginning of the
fiscal period
Comprehensive
income:
Profit or loss for 954 954
the period
Translation 33 0 33
differences
Total 33 954 987
comprehensive
income
Transactions with
owners:
Dividend -700 -700
distribution
Share issue 1 500 1 500
Share exchange 7 680 7 680
Transaction costs -159 -159
for equity
Items due to 2 855 6 -2 901 -40
reverce
aquisition
Items to be -5 654 -5 654
transferred with
the splitting
Transactions with 2 855 6 6 120 0 0 -6 354 2 627
owners total
Shareholders' 2 872 6 6 120 0 33 472 9 504
equity at the end
of the fiscal
period
SECURITIES AND RESPONSIBILITIES
Securities and Responsibilities
EUR
30.6.2016 31.12.2015
Granted securities
Dept secured by real estate and corporate mortgages
Loans from financial instititions and 2 000 2 267
Credit limits in use 1 606 1 215
Total 3 606 3 482
Loans from financial institutions are secured by real estate and
corporate mortgatges and share pledges. Share pledges are the
share capitals of Plc Uutechnic Group Oyj's subsidiaries.
Mortgages granted to secure loans and bank guarantees
Real estate mortgages 4 743 4 743
Corporate mortgages 22 238 17 238
Total 26 981 21 981
Other granted secirities for own behalf
Deposits 9 9
Total 9 9
Other granted securities
Plc Uutechnic Group Oyj has granted as secirities the share
capitals of its subsidiaries AP-Tela Oy, Japrotek Oy, Uutechnic
Oy and Stelzer Rührtechnik International GmbH.
Contignent Liabilities and Other Liabilities
Bank quarantees
Bank guarantee limits total 7 172 7 443
Bank guarantee limits in use 5 217 5 235
Operating lease agreements
Within a year 23 23
More than one year but no more than 5 years 27 27
Total 50 50
Operating lease contracts consist mainly of short-term leasing
contracts for IT equipment and sotware. The terms and condidtions
are of leasing agreements correspond to those of normal
operational leasing agreements.
Arrangements according to IFRIC 4
The Group has no arrangements meant in IFRIC 4.
Other rent agreements
The Group has rented production and office buildings for tis use
with various types of terminable rental agreements.
Rent liabilities
Within a year 560 552
Moren than one year but no more than 5 years 2 238 2 209
Later 3 134 3 134
Total 5 931 5 895
On June 22, 2016 Plc Uutechnic Group Oyj announced that the the lessor of
Japrotek Oy Ab has decided to divest the premises in Pietarsaari and the new
lessor is Uurec Holding Oy. The change of ownership does not change the
conditions of Japrotek’s long-term lease agreement. Uurec Holding Oy is owned
by Saola Invest Oy and Uucap Oy, which are companies under the control of Sami
Alatalo, Timo Lindström and Jouko Peräaho.
The lessor of the premises in Uusikaupunki is UuCap Oy. Timo Lindström and Jouko
Peräaho are in control of this company.
Other contingent liabilities
Granted guarantees to customers and creditors 570 50
Guarantees granted to secure bank guarantee limit 7 172 7 443
Guarantees granted to secure bank loans 3 606 3 482
Guarantees granted to secure rent guarantees 410 410
Total 11 758 11 385
In Uusikaupunki August 17, 2016
PLC UUTECHNIC GROUP OYJ
Board of Directors
Uutechnic Group is focused on improving the competitiveness of its customers by
providing them with advanced equipment technology and unique service concept
worldwide. The product range includes agitators, different types of pressure
vessels, process- and storage tanks, reactors and heat exchangers. Also
different types of long welded and machined axially symmetrical parts as rolls,
cylinders, tubes and cones.
The main industries are hydrometallurgy, mining-, pulp and paper-, food-,
fertilizer-, other chemical industries and environmental technology.
Plc Uutechnic Group’s subsidiaries are AP-Tela Oy, Japrotek Oy Ab, Uutechnic Oy
and Stelzer Rührtechnik International GmbH.
Further information:
Jouko Peräaho, the Chairman of the Board of Directors, +358 500 740808
www.uutechnicgroup.fi
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