2007-08-09 08:00:03 CEST
2007-08-09 08:00:03 CEST
REGULATED INFORMATION
Beltton-Yhtiöt - Quarterly report
BELTTON-GROUP PLC INTERIM REPORT 1 JANUARY - 30 JUNE 2007
Beltton-Group's net sales and operating profit saw clear year-over-year growth. The Group's net sales in January-June totalled EUR 35.5 million (EUR 29.9 million). Operating profit amounted to EUR 1.10 million (EUR 0.72 million). Net profit rose to EUR 0.42 million (EUR 0.32 million), and earnings per share (EPS) to EUR 0.06 (EUR 0.05). Beltton-Group's second-quarter net sales were up 23.9% on the comparison period, totalling EUR 18.6 million (EUR 15.0 million). Operating profit increased to EUR 0.93 million (EUR 0.48 million), which represents 5.0% of net sales (3.2%). Earnings per share were EUR 0.07 (EUR 0.04). NET SALES AND PROFIT DEVELOPMENT Beltton-Group Plc's net sales saw clear year-over-year growth, amounting to EUR 35.5 million (EUR 29.9 million). This development was fuelled by organic business growth. Net sales also benefited from the acquisition of Entre Marketing Oy, which accounted for EUR 1.4 million of net sales growth. The Group's operating profit was EUR 1.10 million (EUR 0.72 million), representing 3.1% (2.4%) of net sales. Profit before extraordinary items amounted to EUR 0.84 million (EUR 0.57 million), while net profit for the period rose to EUR 0.42 million (EUR 0.32 million). Earnings per share (EPS) rose to EUR 0.06 from EUR 0.05 the year before. CEO Heikki Vienola: “Our net sales and profit have developed positively especially due to growth in sales. I am particularly pleased with the results we have achieved in Sweden and Norway. Successful recruitment and the acquisition of new customers in direct sales, as well as new contract customers in Finland, have boosted sales in all of our business areas. The transfer of Wulff's logistics and the relocation of our Finnish direct sales companies have gone well. Brisk sales combined with profitability enhancement measures enable us to outperform last year's results.” Positive business development was seen at Wulff Oy Ab, which accounts for some 45 per cent of Beltton-Group's net sales. The company acquired several new contract customers in the review period and increased its market share. Logistics, an important function to Wulff, has worked smoothly during the warehouse transfer, and the service level has remained high. In the second quarter Wulff also emphasised the development of customer relationships and profitability. The company sells office products and computer accessories to large and medium-sized companies, municipalities, cities and the Finnish Government through its contract customer concept and has supplied over 1,000 MiniBar shelving systems to Finnish companies. KB-tuote Oy, which sells and markets business and advertising gifts, developed positively. The number of contract customers increased as well. The company signed important deals in the second quarter related to, among other things, the Eurovision song contest. In addition to increasing sales, KB's goal in the latter part of the year is to improve profitability by enhancing operations. KB-Tuote Oy provides major corporations with an outsourced business gift service whereby the customer can order products designed in line with the company brand through an electronic order system. Successful recruitments for direct sales and the acquisition of new customers had a positive impact on business development. Sales personnel training will get more and more emphasis in the future. Training has been centralised and enhanced after five of the Group's direct sales companies moved to the Beltton house in Vantaa in May and June. The move of Wulff's logistics operations left free space in the Vantaa facilities, where new office spaces were set up for direct sales companies. The move generated expenses, but will bring synergies and cost-effectiveness to the companies' operations. Beltton's direct sales business consists of ten direct sales companies in Finland, all of which sell computer accessories, office supplies, corporate promotional products and ergonomic products. The sales and profitability of Beltton's Scandinavian subsidiaries continued to develop very well. Successful recruitments and cost-savings measures, as well as the enhancement and reorganisation of activities brought expected results. Field sales in Sweden and telemarketing in Norway performed well in the review period. Beltton latest acquisition, Entre Marketing Oy, which was consolidated in the financial statements on 9 May 2007, acquired over ten new customers in the period. Owing to the cyclical nature of operations, the sales and net sales of Entre Marketing are mainly generated in the latter part of the year. ACQUISITION OF ENTRE MARKETING On 9 May 2007, Beltton-Group Plc acquired a majority shareholding in the Entre Marketing group. Previously owned by Finpro ry and key personnel of the Entre group, Entre Marketing posted net sales of EUR 13.3 million (pro forma) in 2006 and an operating profit EUR 0.35 million (pro forma). The group's balance sheet total on 31 December was EUR 5.6 million, of which equity stood at EUR 0.9 million. As part of the deal, 47 employees transferred to Beltton, 21 of whom are sales representatives. The sale price of the acquired majority holding, EUR 2.7 million, was paid entirely in cash. The share transaction generated Beltton-Group a goodwill of EUR 2.8 million. EUR 0.7 million of the goodwill consists of unrecorded book value previously assigned to the Entre Group. After the acquisition, Beltton holds 80% of Entre Marketing's shares and votes, and five key personnel hold 20%. Beltton holds the right to acquire all Entre Marketing's shares in the year 2011 at the latest. Entre Marketing continues its operations as an independent unit in its own business premises. Pekka Leppälä, the company's CEO, is a member of Beltton's Group Management. The Entre Marketing group consists of Entre Marketing Ltd and its Helsinki-based 100 %-owned subsidiary Atmos Tuotanto Ltd. Entre Marketing's operations focus on the design and implementation of international trade fairs, exhibitions and event marketing. Services are available to both individual companies and business clusters around the world. The company is Finland's market leader in its sector, offering services to more than 1,100 customers last year. During the year, Entre was involved in some 300 events in 25 countries. Exhibition services and event marketing specialised by Entre Marketing support Beltton's Sales Promotion business. FINANCING AND INVESTMENTS Cash flow from business operations amounted to EUR 1.01 million (EUR 1.37 million). The consolidated balance sheet total at the end of the period amounted to EUR 48.3 million (EUR 37.8 million) and the equity ratio was 37.4 % (45,3 %). Changes to the equity ratio were caused by the acquisition of Entre Marketing and strong sales growth of the Beltton-Group. The Group's liquid assets at the end of the review period amounted to EUR 8.43 million (EUR 4.64 million). The investments in fixed assets entered in the balance sheet amounted to EUR 0.81 million (EUR 0.43 million), or 2.3 % (1.4 %) of net sales. Investments focused mainly on the facilities in Vantaa, as well as on machinery and equipment. PERSONNEL Beltton-Group Plc had 475 (429) employees at the end of the review period and an average of 444 (432) employees over the period. A total of 95 (86) employees worked in Sweden, Norway and Estonia. The Group's headcount changed after the acquisition of Entre Marketing. SEGMENT INFORMATION Companies in the Beltton-Group Plc are sales and marketing companies of office supplies. The Group's organisation structure is divided into four areas depending on their operating concept and field. All the areas are presented as a single reportable business segment. In other words, the Group's reportable information, in its entirety, forms this business segment's information. Beltton's secondary segment reporting is based on geographical segments. A market area forms a segment if its net sales account for more than 10 % of the Group's net sales. The net sales of segments are presented according to customer locations, while assets and investments are presented by their location and target. RISKS AND UNCERTAINTIES IN THE NEAR FUTURE The incorporation of Entre Marketing and business development involve some uncertainties. The company's business is highly cyclic in nature, and much of the net sales and operating profit is generated in the last quarter. It is likely, therefore, that the quarterly cyclicality, which levelled off at Group level last year, will grow stronger. OUTLOOK FOR THE REST OF 2007 Beltton expects the office product markets to grow moderately in 2007. The successfully implemented contract customer model is expected to provide a good foundation for growth that clearly outperforms the market. Beltton's outlook for 2007 is favourable. The successful completion of the Entre Marketing Ltd acquisition and good organic growth give the company management reason to believe that net sales will increase from EUR 62 million last year to about EUR 80 million, and that the company's financial result will improve from the previous year. ACCOUNTING PRINCIPLES APPLIED IN THE INTERIM REPORT This interim report was prepared in compliance with the IFRS accounting and valuation principles and the principles of IAS 34. The accounting principles are the same as those used in the financial statements for 2006. This interim report has not been audited. The interim report for 1 January - 30 September 2007 will be released on 7 November 2007, at 9:00 a.m. -------------------------------------------------------------------------------- | Beltton-Group PLC | | | | (1000 euro) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | CONSOLIDATED INCOME | 4-6/07 | 4-6/06 | 1-6/07 | 1-6/06 | 1-12/06 | | STATEMENT | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TURNOVER | 18 604 | 15 020 | 35 529 | 29 852 | 62 045 | -------------------------------------------------------------------------------- | | | | | | | -------------------------------------------------------------------------------- | Other operating income | 50 | 98 | 130 | 158 | 329 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Materials and services | 9 702 | 7 787 | 18 647 | 15 749 | 32 874 | -------------------------------------------------------------------------------- | Employee benefits expenses | 4 288 | 3 989 | 8 463 | 7 725 | 15 347 | -------------------------------------------------------------------------------- | Depreciation and | 325 | 306 | 624 | 589 | 1 214 | | amortization | | | | | | -------------------------------------------------------------------------------- | Other operating expenses | 3 411 | 2 558 | 6 824 | 5 228 | 10 519 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | OPERATING PROFIT | 928 | 478 | 1 101 | 719 | 2 420 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Financial income and | -206 | -58 | -257 | -145 | -203 | | expenses | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | PROFIT BEFORE | | | | | | | EXTRAORDINARY | | | | | | -------------------------------------------------------------------------------- | ITEMS AND TAXES | 722 | 420 | 844 | 574 | 2 216 | -------------------------------------------------------------------------------- | | | | | | | -------------------------------------------------------------------------------- | Extraordinary items | 0 | 0 | 0 | 0 | 0 | -------------------------------------------------------------------------------- | | | | | | | -------------------------------------------------------------------------------- | PROFIT BEFORE TAXES | 722 | 420 | 844 | 574 | 2 216 | -------------------------------------------------------------------------------- | | | | | | | -------------------------------------------------------------------------------- | Income taxes | 188 | 135 | 368 | 261 | 807 | -------------------------------------------------------------------------------- | Minority interest | 47 | 42 | 58 | -12 | 113 | -------------------------------------------------------------------------------- | | | | | | | -------------------------------------------------------------------------------- | NET PROFIT | 487 | 243 | 417 | 324 | 1 296 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | CONSOLIDATED BALANCE SHEET | | | | (1000 euro) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Assets | | | 6/2007 | 6/2006 | 12/2006 | -------------------------------------------------------------------------------- | | | | | | | -------------------------------------------------------------------------------- | FIXED ASSETS | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Intangible assets | | | 552 | 413 | 454 | -------------------------------------------------------------------------------- | Goodwill | | | 7 737 | 4 697 | 4 903 | -------------------------------------------------------------------------------- | Tangible assets | | 5 587 | 5 046 | 4 913 | -------------------------------------------------------------------------------- | Investments held for sale | | | 339 | 251 | 235 | -------------------------------------------------------------------------------- | Investments | | | 144 | 144 | 149 | -------------------------------------------------------------------------------- | Deferred tax assets | | | 978 | 1 102 | 972 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL FIXED ASSETS | | | 15 337 | 11 653 | 11 626 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | CURRENT ASSETS | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Inventories | | | 10 887 | 10 001 | 10 590 | -------------------------------------------------------------------------------- | Trade and other | | | 13 674 | 11 492 | 12 587 | | receivables | | | | | | -------------------------------------------------------------------------------- | Cash and cash equivalents and | | | | | | financial | | | | | -------------------------------------------------------------------------------- | assets recognised at fair value | | 8 430 | 4 639 | 5 876 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL CURRENT ASSETS | | | 32 990 | 26 132 | 29 053 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL ASSETS | | | 48 327 | 37 785 | 40 679 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Equity and liabilities | | | 6/2007 | 6/2006 | 12/2006 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EQUITY | | | | | | -------------------------------------------------------------------------------- | Share capital | | | 2 603 | 2 603 | 2 603 | -------------------------------------------------------------------------------- | Share issue | | | 0 | 0 | 0 | -------------------------------------------------------------------------------- | Share premium fund | | | 7 662 | 7 662 | 7 662 | -------------------------------------------------------------------------------- | Retained earnings | | | 6 388 | 5 722 | 5 740 | -------------------------------------------------------------------------------- | Net profit | | | 417 | 324 | 1 296 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Minority interest | | | 997 | 814 | 889 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL EQUITY | | | 18 067 | 17 125 | 18 190 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | LIABILITIES | | | | | | -------------------------------------------------------------------------------- | Long-term interest-bearing | | 10 842 | 7 149 | 8 281 | | liabilities | | | | | -------------------------------------------------------------------------------- | Short-term liabilities | | | 19 418 | 13 511 | 14 207 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL LIABILITIES | | | 30 260 | 20 660 | 22 488 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL EQUITY AND | | | 48 327 | 37 785 | 40 679 | | LIABILITIES | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Jan 1st - Jun 30th | | | 2007 | | -------------------------------------------------------------------------------- | | | | | | (1000 euro) | -------------------------------------------------------------------------------- | | | | Retain | | Minor- | | | | | | - | | | | -------------------------------------------------------------------------------- | | | Share | ed | | ity | | -------------------------------------------------------------------------------- | | Share | premiu | earn- | | inte- | | | | | m | | | | | -------------------------------------------------------------------------------- | | capita | fund | ings | Total | rest | Total | | | l | | | | | | -------------------------------------------------------------------------------- | | | | | | | | -------------------------------------------------------------------------------- | Equity Jan 1st 2007 | 2 603 | 7 662 | 7 036 | 17 301 | 889 | 18 190 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Net profit | | | 417 | | 58 | 475 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Dividends paid | | | -781 | | -66 | -847 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Investments | | | | | | | | available for | | | | | | | -------------------------------------------------------------------------------- | sale: Valuation | | | | | | | | gains or | | | | | | | -------------------------------------------------------------------------------- | losses recognised | | | | | | | | under | | | | | | | -------------------------------------------------------------------------------- | shareholders' equity | | | 77 | | | 77 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Financial | | | | | | | | instruments | | | | | | | -------------------------------------------------------------------------------- | recognised under | | | | | | | -------------------------------------------------------------------------------- | shareholders' equity | | | 34 | | | 34 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Translation | | | 22 | | | 22 | | differences | | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Changes in | | | 0 | | 115 | 115 | | shareholdings | | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Equity on Jun 30th | 2 603 | 7 662 | 6 805 | 17 070 | 997 | 18 067 | | 2007 | | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Jan 1st - Jun 30th | | | 2006 | | -------------------------------------------------------------------------------- | | | | | | (1000 euro) | -------------------------------------------------------------------------------- | | | | Retain | | Minor- | | | | | | - | | | | -------------------------------------------------------------------------------- | | | Share | ed | | ity | | -------------------------------------------------------------------------------- | | Share | premiu | earni- | | inte- | | | | | m | | | | | -------------------------------------------------------------------------------- | | capita | fund | ings | Total | rest | Total | | | l | | | | | | -------------------------------------------------------------------------------- | | | | | | | | -------------------------------------------------------------------------------- | Equity Jan 1st 2006 | 2 603 | 7 662 | 6 512 | 16 777 | 1 021 | 17 798 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Net profit | | | 324 | | -11 | 313 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Dividends paid | | | -651 | | -132 | -783 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Investments | | | | | | | | available for | | | | | | | -------------------------------------------------------------------------------- | sale: Valuation | | | | | | | | gains or | | | | | | | -------------------------------------------------------------------------------- | losses recognised | | | | | | | | under | | | | | | | -------------------------------------------------------------------------------- | shareholders' equity | | | -33 | | | -33 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Financial | | | | | | | | instruments | | | | | | | -------------------------------------------------------------------------------- | recognised under | | | | | | | -------------------------------------------------------------------------------- | shareholders' equity | | | -112 | | | -112 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Translation | | | 6 | | | 6 | | differences | | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Changes in | | | | | -63 | -63 | | shareholdings | | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Equity Jun 30th 2006 | 2 603 | 7 662 | 6 046 | 16 311 | 816 | 17 127 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | KEY RATIOS | | | | (1000 euro) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | 4-6/07 | 4-6/06 | 1-6/07 | 1-6/06 | 1-12/06 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Turnover | 18 604 | 15 020 | 35 529 | 29 852 | 62 045 | -------------------------------------------------------------------------------- | Increase in turnover % | 23.9 % | -2.5 % | 19.0 % | -1.3 % | 3.2 % | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Operating profit | 928 | 478 | 1 101 | 719 | 2 420 | -------------------------------------------------------------------------------- | % of turnover | 5.0 % | 3.2 % | 3.1 % | 2.4 % | 3.9 % | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Profit before tax | 722 | 420 | 844 | 574 | 2 216 | -------------------------------------------------------------------------------- | % of turnover | 3.9 % | 2.8 % | 2.4 % | 1.9 % | 3.6 % | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Net profit | 487 | 243 | 417 | 324 | 1 296 | -------------------------------------------------------------------------------- | % of turnover | 2.6 % | 1.6 % | 1.2 % | 1.1 % | 2.1 % | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Equity ratio % | | | 37.4 % | 45.3 % | 45.0 % | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Investments in fixed | 512 | 269 | 813 | 425 | 1 122 | | assets | | | | | | -------------------------------------------------------------------------------- | % of turnover | 2.8 % | 1.8 % | 2.3 % | 1.4 % | 1.8 % | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Average number of | | | 444 | 432 | 423 | | personnel | | | | | | -------------------------------------------------------------------------------- | Number of personnel at end of period | | 475 | 429 | 412 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Earnings per share, euro | 0.07 | 0.04 | 0.06 | 0.05 | 0.20 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Equity per share, euro | | | 2.62 | 2.51 | 2.66 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | CONSOLIDATED CASH FLOW | | | | (1000 euro) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | | | 1-6/07 | 1-6/06 | 1-12/06 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Cash flow from operations: | | | | | | -------------------------------------------------------------------------------- | Payments received from | | | 34 606 | 29 807 | 60 367 | | sales | | | | | | -------------------------------------------------------------------------------- | Payments received from other operating income | 115 | 125 | 305 | -------------------------------------------------------------------------------- | Amounts paid for operating expenses | | -33 391 | -28 353 | -58 186 | -------------------------------------------------------------------------------- | Cash flow from business operations | | | | -------------------------------------------------------------------------------- | before financial items and | | | 1 330 | 1 579 | 2 487 | | taxes | | | | | | -------------------------------------------------------------------------------- | Financial costs paid | | | -340 | -220 | -410 | -------------------------------------------------------------------------------- | Interests received from operations | | 58 | 28 | 114 | -------------------------------------------------------------------------------- | Direct taxes paid | | | -35 | -17 | -98 | -------------------------------------------------------------------------------- | Cash flow from operations | | | 1 013 | 1 370 | 2 093 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Cash flow from investment | | | | | | activities: | | | | | -------------------------------------------------------------------------------- | Investments in tangible and intangible assets | -625 | -425 | -1 096 | -------------------------------------------------------------------------------- | Sale of tangible and intangible | | 457 | 0 | 274 | | assets | | | | | -------------------------------------------------------------------------------- | Acquisition of shares in | | -1 326 | -5 | -302 | | subsidiaries | | | | | -------------------------------------------------------------------------------- | Sale of shares in subsidiaries | | 0 | 0 | 75 | -------------------------------------------------------------------------------- | Sale of other investments | | 0 | 0 | -107 | -------------------------------------------------------------------------------- | Cash flow from investment activities | | -1 494 | -430 | -1 156 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | | | | | | -------------------------------------------------------------------------------- | Cash flow from financing activities: | | | | | -------------------------------------------------------------------------------- | Share issue | | | 0 | 0 | 0 | -------------------------------------------------------------------------------- | Paid dividends | | | -847 | -651 | -745 | -------------------------------------------------------------------------------- | Received dividends | | | 465 | 191 | 195 | -------------------------------------------------------------------------------- | Short-term investments | | | 306 | -171 | 0 | -------------------------------------------------------------------------------- | Loss from the sale of short-term investments | -604 | -143 | 0 | -------------------------------------------------------------------------------- | Loan withdrawals | | | 3 710 | 0 | 1 615 | -------------------------------------------------------------------------------- | Loan repayments | | | -300 | -168 | -704 | -------------------------------------------------------------------------------- | Cash flow from financing activities | | 2 730 | -942 | 361 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Change in liquid assets | | | 2 249 | -2 | 1 298 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | RELATED PARTY TRANSACTIONS | | (1000 euro) | -------------------------------------------------------------------------------- | | 1-6/07 | 1-6/06 | 1-12/06 | -------------------------------------------------------------------------------- | Business with parties exercising | | | | | considerable | | | | -------------------------------------------------------------------------------- | control: | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Purchases from related parties | 100 | 35 | 35 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Loans to related parties | 127 | 27 | 150 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | SEGMENT INFORMATION ON GEOGRAPHICAL SEGMENTS | | (1000 euro) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | | | 1-6/07 | 1-6/06 | 1-12/06 | -------------------------------------------------------------------------------- | Turnover | | | | | | -------------------------------------------------------------------------------- | Finland | | | 30 515 | 26 295 | 55 919 | -------------------------------------------------------------------------------- | Other Nordic countries and the Baltic | 5 014 | 3 557 | 6 126 | | countries | | | | -------------------------------------------------------------------------------- | Total | | | 35 529 | 29 852 | 62 045 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Assets | | | | | | -------------------------------------------------------------------------------- | Finland | | | 43 835 | 33 548 | 36 011 | -------------------------------------------------------------------------------- | Other Nordic countries and the Baltic | 4 492 | 4 237 | 4 668 | | countries | | | | -------------------------------------------------------------------------------- | Total | | | 48 327 | 37 785 | 40 679 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Investments | | | | | | -------------------------------------------------------------------------------- | Finland | | | 805 | 422 | 1 256 | -------------------------------------------------------------------------------- | Other Nordic countries and the Baltic | 8 | 3 | 8 | | countries | | | | -------------------------------------------------------------------------------- | Total | | | 813 | 425 | 1 264 | -------------------------------------------------------------------------------- COMPANY SHARES The Beltton-Group Plc does not hold its own shares. -------------------------------------------------------------------------------- | KEY RATIOS PER QUARTER | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | | 4-6/07 | 1-3/07 | 10-12/0 | 7-9/06 | 4-6/06 | 1-3/06 | | | | | 6 | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Turnover | 18 604 | 16 925 | 18 864 | 13 329 | 15 020 | 14 832 | | (1000 euro) | | | | | | | -------------------------------------------------------------------------------- | Operating profit | 928 | 172 | 1 033 | 668 | 478 | 240 | | (1000 euro) | | | | | | | -------------------------------------------------------------------------------- | Net profit | 487 | -70 | 659 | 312 | 243 | 81 | | (1000 euro) | | | | | | | -------------------------------------------------------------------------------- | Earnings per | 0.07 | -0.01 | 0.10 | 0.05 | 0.04 | 0.01 | | share, euro | | | | | | | -------------------------------------------------------------------------------- BELTTON-GROUP PLC Further information: Heikki Vienola, CEO Tel. +358 9 5259 0050 or +358 50 65 110 e-mail: heikki.vienola@beltton.fi Sirpa Väisänen, IR Officer Tel. +358 9 5259 0050 or +358 400 943 243 e-mail: sirpa.vaisanen@beltton.fi DISTRIBUTION The Helsinki Stock Exchange www.beltton.com Key media
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