2007-04-25 15:45:00 CEST
2007-04-25 15:45:00 CEST
REGULATED INFORMATION
Evia Oyj - Quarterly report
FIRST QUARTER
Evia Plc Interim Report 1 January - 31 March 2007
FIRST QUARTER IN BRIEF
- Net sales increased to EUR 2.95 million (in comparison to Q1 2006 EUR 3.70
million,-20.4%).
- Gross income was EUR 2.07 million (EUR 2.46 million, -15.9%).
- Operating profit was EUR 0.01 million (EUR 0.29 million, -97.6%).
-Operating profit represented 0.2% of net sales.
- Profit before taxes was EUR
-0.01 million (EUR 0.27 million, -104.1%).
- Cash flow from operations was EUR 0.06 million (EUR 0.60 million, -89.4%).
- Gross income per capita was EUR 22,511 (EUR 26,761, -15.9%).
Net sales in the period under review decreased by one fifth in comparison to the
last quarter of 2006. Gross income decreased as well.
Compared to the first quarter of 2006 net sales grew slightly and operating
profit was modestly positive.
The result for the beginning of 2007 was weakened owing to loss of some major
customer accounts. New assignments covering this loss are not yet effectively
reflected in the result. Also, overlapping rental expenses during February -
March and costs related to adjustment of the number of personnel affected the
result.
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| KEY FIGURES | 1-3 | 1-3 | Change | Last | 1-12 | Change, |
| | 2007 | 2006 | , | 12 | 2006 | % |
| | | | % | months | | |
--------------------------------------------------------------------------------
| Net sales, EUR | 2 947 | 3 700 | -20,4 | 9 903 | 10 656 | -7,1 |
| 1,000 | | | | | | |
--------------------------------------------------------------------------------
| Gross income, EUR | 2 071 | 2 462 | -15,9 | 6 283 | 7 488 | -5,2 |
| 1,000 | | | | | | |
--------------------------------------------------------------------------------
| Operating profit, | 7 | 287 | -97,6 | -2 317 | -980 | 28,6 |
| EUR 1,000 | | | | | | |
--------------------------------------------------------------------------------
| Profit before | -11 | 268 | (..) | -1 377 | -1 098 | -25,4 |
| taxes, EUR1,000 | | | | | | |
--------------------------------------------------------------------------------
| Average number of | 92 | 92 | 0,0 | 92 | 92 | 0,0 |
| employees | | | | | | |
--------------------------------------------------------------------------------
| - of whom on | 3 | 4 | | 3 | 3 | |
| fixed-term | | | | | | |
| contracts | | | | | | |
--------------------------------------------------------------------------------
| Cash reserves, | 121 | 674 | (..) | 121 | 73 | 65,8 |
| EUR 1,000 | | | | | | |
--------------------------------------------------------------------------------
| Cash flow from | 63 | 595 | (..) | -229 | 293 | (..) |
| business | | | | | | |
| operations, EUR | | | | | | |
| 1,000 | | | | | | |
--------------------------------------------------------------------------------
| Equity to assets | 44,3 | 56,0 | | 44,3 | 51,0 | |
| ratio, % | | | | | | |
--------------------------------------------------------------------------------
| Return on equity, | -0,6 | 34,9 | | -75,6 | -46,1 | |
| % (12 months) | | | | | | |
--------------------------------------------------------------------------------
| Return on | 0,5 | 28,7 | | -41,7 | -31,5 | |
| investment, % (12 | | | | | | |
| months) | | | | | | |
--------------------------------------------------------------------------------
| Earnings/share | 0,00 | 0,08 | -100 | -0,40 | -0,32 | -25,0 |
| (EPS), EUR | | | | | | |
--------------------------------------------------------------------------------
| Equity/share, EUR | 0,52 | 0,92 | -43,5 | 0,52 | 0,53 | -1,9 |
--------------------------------------------------------------------------------
(..) Change in excess of 100%
The comparative data for the entire 2006 reporting period conforms with Evia's
official financial statements for the 2006 reporting period. Other figures are
unaudited. This interim report has been prepared in accordance with the
recognition and measurement principles of IFRS.
Comments by Evia Plc's Managing Director Jari Torvelainen:
“Evia's net sales and gross income diminished in the first quarter of 2007
compared to the corresponding period in 2006. Planning of advertising and
marketing communication as well as production of publications retained their
position compared to previous year. Web services and PR experienced growth,
although their share of the gross income is still under 10%. The share of
investor relations communication diminished. Invoicing earnings from new clients
did not fully cover the share of client invoicing lost in 2006.
Based on the volume of received and anticipated client assignments the planning
of advertising and marketing communication is expected to grow towards the end
of the year to correspond the level of 2006. This being the case their share
will grow to represent significantly over 50% of the gross income. In a similar
vein the share of PR and web services is expected to grow further over the
course of the financial year and reach almost 15% of gross income. The volume
and share of investor relations communication depends on annual report projects,
whose volume is resolved in the autumn. As a whole the gross income is expected
to diminish from the level of gross income in 2006.
Thanks to Evia Plc's move of facilities to Bulevardi 6 rental expenses will go
down by about one third compared to the level of the first few months. The
leasing of the Parrukatu facilities is progressing according to plan and when
fully realised will diminish the Group's rental expenses by approximately two
thirds compared to the beginning of 2007. Jointly the decrease in rental
expenses, other fixed costs and the adjustment of number of personnel to the
volume of assignments will according to estimates cut down the Group's expenses
by EUR 0.5 million from the cost level of the first Q1 months, and this will
affect the financial periods to come.
During the next two quarters the move and overlapping rental expenses as well as
the adjustment of personnel to the volume of assignments will cause additional
costs.
Based on the volume of received and anticipated client assignments and the lower
fixed cost structure I expect the result for the entire financial year to turn
modestly positive.”
NET SALES AND GROSS INCOME
The net sales of Evia Plc Group in Q1 decreased by 20.4% to EUR 2.95 million
(EUR 3.70 million). Net sales grew by 20% compared to the last quarter of 2006.
The performance of Evia Plc Group's business operations is illustrated well by
the development of gross income, as net sales include a fluctuating amount of
pass-through invoicing from subcontracting work performed for customers and of
free lancer costs. Gross income consists primarily of invoicing for work
performed by Evia. The figure also includes a certain amount of subcontracting
and media fees, but their share is negligible.
The gross income of Evia Plc Group in Q1 decreased by 15.9% to EUR 2.07 million
(EUR 2.46 million). The gross income grew in comparison to the last quarter of
2006 by 26.4%.
PROFIT DEVELOPMENT
Evia Plc Group's operating profit was EUR 0.01 million (EUR 0.29 million). The
Group's expenses for 1-3/2007 were EUR 2.03 million (EUR 2.12 million), a
decrease of 4.5% over the corresponding period in 2006. The decrease in expenses
was primarily attributable to diminished personnel costs. Profitability was
weakened especially owing to the high rental expenses of the beginning of 2007.
Evia Plc Group posted pre-tax losses of EUR -0.01 million (EUR 0.27 million).
BALANCE SHEET
The consolidated balance sheet total at the end of the reporting period was EUR
4.10 million (EUR 5.72 million). This decrease was primarily attributable to the
coverage of operating loss of 2006.
The change in subcontracting inventories for January-March was EUR -0.02 million
and the change in working inventories was EUR -0.00 million. The change in
inventories totaled EUR -0.02 million. The value of inventories on 31 March 2007
was: working inventory EUR 0.34 million, subcontracting inventory EUR 0.08
million, total EUR 0.42 million.
FINANCIAL POSITION
Evia Plc Group's financial position weakened compared to the previous accounting
period. The positive development of the financial position was primarily
attributable to a change in working capital.
Cash reserves at the end of the reporting period amounted to EUR 0.12 million
(EUR 0.67 million). The cash flow from operations during Q1 was EUR 0.06 million
(EUR 0.60 million), and the total cash flow was EUR -0.05 million (EUR 0.11
million).
The Group's equity to total assets ratio at the end of the reporting period was
44.3% (56.0%) and the gearing ratio 4.3% (2.1%). The amount of interest-bearing
liabilities decreased from the corresponding period in 2006 and was EUR 0.20
million (EUR 0.74 million) at the end of the reporting period.
The return on investment (ROI) in Q1 was 0.5% (28.7%) and return on equity (ROE)
-0.6% (34.9%).
--------------------------------------------------------------------------------
| | 31.3. | 31.3. | Change, | Last | 31.12. | Change, |
| | 2007 | 2006 | % | 12 | 2006 | % |
| | | | | months | | |
--------------------------------------------------------------------------------
| Cash reserves, | 0,12 | 0,67 | -82,0 | 0,12 | 0,07 | 72,9 |
| EUR million | | | | | | |
--------------------------------------------------------------------------------
| Interest-bearing | 0,20 | 0,74 | -73,1 | 0,20 | 0,20 | -0,5 |
| liabilities, EUR | | | | | | |
| million | | | | | | |
--------------------------------------------------------------------------------
| Equity to total | 44,3 | 56,0 | | 44,3 | 51,0 | |
| assets ratio, % | | | | | | |
--------------------------------------------------------------------------------
| Gearing ratio, % | 4,3 | 2,1 | | | 6,7 | |
--------------------------------------------------------------------------------
| Current ratio | 1,13 | 0,58 | | | 0,30 | |
--------------------------------------------------------------------------------
| Quick ratio | 0,06 | 0,30 | | | 0,05 | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash flow from | 0,06 | 0,60 | -89,4 | -0,25 | 1-12 | (..) |
| operations, EUR | | | | | 2006 | |
| million | | | | | 0,29 | |
--------------------------------------------------------------------------------
| Cash flow, EUR | 0,04 | 0,11 | -54,3 | -0,57 | -0,50 | -14,9 |
| million | | | | | | |
--------------------------------------------------------------------------------
(..) Change in excess of 100%
PERSONNEL
Evia Plc Group employed 92 (91) personnel at the start of the reporting period
and 92 (92) at the end, of which fixed-term employment contracts accounted for 3
(4). The average number of personnel was 90 (92). Personnel costs accounted for
61% (61%) of the Group's operating costs.
DEVELOPMENT OF BUSINESS OPERATIONS
Evia Plc
Evia Plc's operating profit in Q1 2007 was EUR 0.03 million (EUR 0.33 million,
-91.5%). The company had net sales of EUR 2.77 million (EUR 3.51 million,
-21.1%) and gross income of EUR 1.85 million (EUR 2.26 million, -18.4%). Gross
income per capita was EUR 22,500 (EUR 26,917).
Evia Plc's expenses during the reporting period amounted to EUR 1.80 million
(EUR 1.89 million).
The company employed an average of 82 (84) personnel in Q1 2007, of which
fixed-term employment contracts accounted for 3 (4). The company's share of
Group net sales was 94.1%, gross income 89.1% and personnel 89.1%.
The
Chairman of the Board of Evia Plc is Matti Makkonen and the Managing Director
Jari Torvelainen.
The strategic focus areas of Evia Plc are the development of the company's
recognition and desirability among decision-makers and the further improvement
of operating methods and profitability by means of steadily increasing gross
income and by enhancing efficiency. To secure profitability the organisation and
its operations will be quicker and more accurately adjusted to reflect client
outlooks.
Frame Graphics Oy
Frame Graphics Oy, which focuses on animation and post-production of commercials
and television programs, had net sales in Q1 of EUR 0.26 million (EUR 0.28
million, -8.5%) and gross income of EUR 0.23 million (EUR 0.20 million, 12.4%).
The company's operating loss for the reporting period was EUR 0.02 million
(operating loss EUR 0.04 million, +48.8%).
Frame Graphics Oy's expenses during the reporting period amounted to EUR 0.23
million (EUR 0.23 million).
Frame Graphics Oy employed an average of 10 (8) personnel in Q1 2006. The
company's share of Group net sales was 8.8%, gross income 10.9% and personnel
10.9%.
The Managing Director of Frame Graphics Oy is Juha Poraharju.
OPERATING RISKS
Risks have been defined in the following areas: clients and client
relationships, markets and competition, personnel and expertise, information
security and liquidity risks, interest rate risks and credit risks related to
common financing risks. Within client risks it is significant that the ten
biggest client relationships generate less than 60% of gross income. The outlook
for the sector remains healthy for 2007 due to the positive development of the
Finnish economy. Competition within the sector remains intense, which signifies
increasing risks for companies in the sector.
Operating risks related to common financing include liquidity, as well as
interest rate risks and credit risks. The aim of managing financial risks is to
ensure sufficient financing for the company. Alarm limits have been set for all
defined risks, based on which protective measures are implemented. Evia did not
carry out credit risk management during the reporting period with the exception
of various protective measures.
ANNUAL GENERAL MEETING
On March 23 2007 the Annual General Meeting of Shareholders of Evia Plc adopted
the financial statements for 2006 and discharged the members of the Board of
Directors and the Managing Director from liability for the 2006 financial year.
The AGM decided that no dividend will be paid for 2006.
Matti Lainema, Ph.D. (Econ) and Jani Björn, M.Sc (Econ), M.Sc. (Techn) were
elected as new members of the Board. CEO of Evia Plc Jari Torvelainen, MSc, MBA,
and Matti Makkonen, MSc (Tech), were re-elected to the Board. In the organising
meeting of the Board of Directors Matti Makkonen was elected Chairman and Matti
Lainema Deputy Chairman.
Authorized public accountants BDO FinnPartners Oy were elected company auditors,
with Pertti Hiltunen APA as principal auditor.
The Annual General Meeting decided to lower the company's current share capital
by EUR 1,615,000 in order to cover the loss in the confirmed balance sheet in
proportion to the shareholdings. As a result the Company's registered share
capital of EUR 3,465,000 is decreased to EUR 1,850,000. The reduction of share
capital would not affect the number of shares issued by the Company or the
distribution voting rights. The decrease in share capital would not require any
action from the share owners.
The Annual General Meeting decided to approve The Board of Directors proposal to
changes the old Articles of Association with a new one. Changes are mainly
technical due to the new Finnish Companies Act.
SHARES AND SHARE CAPITAL
Evia Plc's share capital at the end of the reporting period was EUR 3,465,000
and the total number of shares was 3,465,000, each with a counter-value of EUR
1.00.
The Meeting authorized the Board of Directors to decide to issue new shares in
one or more lots. The share issue can be carried out as a share issue against
payment or without consideration on terms to be determined by the Board of
Directors and in relation to a share issue against payment at a price to be
determined by the Board of Directors. The authorization comprises the right to
deviate from the shareholders' pre-emptive subscription right provided that the
company has an important financial reason for the deviation in a share issue
against payment and provided that the company, taking into account the interest
of all its shareholders, has a particularly important financial reason for the
deviation in a share issue without consideration.
The authorization includes the right for the Board of Directors to determine the
terms and conditions of the issue and re-issue of shares, share option rights
and other entitlements referred to in the Finnish Companies Act, chapter 10,
paragraph 1, including the right to resolve to issue shares without a
subscription price. The shares may also be subscribed for or own shares conveyed
against contribution in kind or by means of set-off.
The number of newly issued shares is a maximum of 1,000,000. The Board of
Directors retains the right to decide other issues related to issue of shares
and granting of special rights. The authorization is in force for one year
following the decision by the Annual General Meeting. The company does not hold
its own shares, nor does the Board of Directors have any authorization to
acquire the company's own shares.
Shareholders
At the end of the reporting period the company had 470 shareholders (486).
Share price and trading
The highest price quoted for the company's shares in Q1 was EUR 1.20 (EUR 1.68),
the lowest price was EUR 0.97 (EUR 1.33), and the closing price was EUR 1.07
(EUR 1.51). The average price during the reporting period was EUR 1.06 (EUR
1.52). Evia Plc's market capitalization at the closing price was EUR 3,707,550
(EUR 5,232,150).
A total of 316,833 (157,160) shares were traded during the reporting period,
which represents 9.1% (4.5%) of the total number of shares.
OUTLOOK
The development of this sector is tied to the general performance of the
economy. Indicators monitored by the Finnish Association of Marketing
Communication Agencies (MTL) forecast an increase in advertising in 2007.
Of the different areas of advertising web services continue to experience strong
growth. As a medium the web has taken over outdoor advertising and radio, but
its share remains below 5% of the market. As planning and implementation of
sales promotion and reputation management measures combined with strong growth
of search engine marketing is taken into consideration, we expect the total
volume of these services to expand by two- or threefold. This means that the
popularity of these services in question exceeds advertising carried out by free
distribution newspapers and publications distributed by cities.
The competition between companies of the field will remain extremely tight.
In addition to general economic performance, the company's development is
impacted by how Evia's own clients utilise this industry's services and by
changes in client relationships. There are no indications at this moment of
significant changes in Evia's client relationships.
The move of Evia Plc to the new facilities at Bulevardi 6 will from May onwards
diminish the rental costs by one third from the level prevalent at the beginning
of the year. The subletting of the Parrukatu facilities is progressing according
to plan.
The Board estimates the result of the next quarter to be negative. The reasons
leading to this forecast are the Group's move, overlapping rental expenses,
costs attributable to the adjustment of the number of personnel to prevailing
workload as well as seasonal fluctuations in the volume of client assignments.
Overall the result for 2007 is expected to turn modestly positive owing to
received and anticipated client assignments and the lower cost level of the
year-end.
Helsinki, 25 April 2007
Evia Plc
Board of Directors
Further information:
Managing Director Jari Torvelainen
tel. +358 (0)40 555
5553
e-mail: jari.torvelainen@evia.fi
Distribution:
Helsinki Stock Exchange and key media
www.evia.fi
Appendix:
Tables
Consolidated income statement
Consolidated balance sheet
Changes in
shareholders' equity
Consolidated cash flow statement
Consolidated income
statement by quarter
Contingent liabilities
Key financial ratios
Segment
information
Net sales
Gross income
Operating profit
Average number of
personnel
Calculation of financial ratios
Evia Plc financial reporting in 2006
--------------------------------------------------------------------------------
| CONSOLIDATED INCOME | | | | | |
| STATEMENT | | | | | |
--------------------------------------------------------------------------------
| EUR 1,000 | 1-3 | 1-3 | Change, | Last 12 | 1-12 |
| | 2007 | 2006 | % | months | 2006 |
--------------------------------------------------------------------------------
| NET SALES | 2 947 | 3 700 | -20,4 | 9 903 | 10 656 |
--------------------------------------------------------------------------------
| Other operating income | | 29 | -100,0 | 114 | 143 |
--------------------------------------------------------------------------------
| Outsourcing expenses | -893 | -1 201 | -25,6 | -2 709 | 3 017 |
--------------------------------------------------------------------------------
| Change in inventories | 17 | -66 | (..) | -211 | -294 |
--------------------------------------------------------------------------------
| GROSS INCOME | 2 071 | 2 462 | -15,9 | 7 097 | 7 488 |
--------------------------------------------------------------------------------
| Personnel expenses | -1 240 | -1 299 | -4,5 | -5 047 | -5 106 |
--------------------------------------------------------------------------------
| Depreciation and | -37 | -53 | -30,2 | -176 | -192 |
| amortization | | | | | |
--------------------------------------------------------------------------------
| Other operating expenses | -787 | -823 | -4,4 | -3 134 | -3 170 |
--------------------------------------------------------------------------------
| OPERATING PROFIT | 7 | 287 | -97,6 | -980 | -1 260 |
--------------------------------------------------------------------------------
| Financial expenses | -18 | -19 | -5,3 | -117 | -118 |
--------------------------------------------------------------------------------
| Profit before taxes | -11 | 268 | (..) | -1 377 | -1 098 |
--------------------------------------------------------------------------------
| Income taxes | | -1 | | 2 | 1 |
--------------------------------------------------------------------------------
| NET PROFIT | -11 | 267 | (..) | -1 375 | -1 097 |
--------------------------------------------------------------------------------
| Attributable to | | | | | |
--------------------------------------------------------------------------------
| Equity holders of the | -11 | 267 | (..) | -1 375 | -1 097 |
| parent company | | | | | |
--------------------------------------------------------------------------------
| Minority interests | 0 | 0 | 0 | | 0 |
--------------------------------------------------------------------------------
(..) = Change in excess of 100%
--------------------------------------------------------------------------------
| CONSOLIDATED BALANCE SHEET | | | | |
--------------------------------------------------------------------------------
| EUR 1,000 | 31.3. | 31.3. | Change, | 31.12. |
| | 2007 | 2006 | % | 2006 |
--------------------------------------------------------------------------------
| ASSETS | | | | |
--------------------------------------------------------------------------------
| NON-CURRENT ASSETS | | | | |
--------------------------------------------------------------------------------
| Tangible assets | 342 | 509 | -98,2 | 361 |
--------------------------------------------------------------------------------
| Goodwill | 1 329 | 1 339 | -0,7 | 1 330 |
--------------------------------------------------------------------------------
| Other intangible assets | 9 | 23 | (..) | 11 |
--------------------------------------------------------------------------------
| Disposable investments | 32 | 248 | -87,1 | 32 |
--------------------------------------------------------------------------------
| Total non-current assets | 1 711 | 2 119 | -19,3 | 1 734 |
--------------------------------------------------------------------------------
| CURRENT ASSETS | | | | |
--------------------------------------------------------------------------------
| Inventories | 422 | 634 | -33,4 | 405 |
--------------------------------------------------------------------------------
| Trade receivables and other | 1 848 | 2 295 | -19,5 | 1 390 |
| receivables | | | | |
--------------------------------------------------------------------------------
| Cash reserves | 121 | 674 | (..) | 73 |
--------------------------------------------------------------------------------
| Total current assets | 1 876 | 3 603 | -47,9 | 1 868 |
--------------------------------------------------------------------------------
| Total assets | 4 103 | 5 722 | -37,3 | 3 602 |
--------------------------------------------------------------------------------
| SHAREHOLDERS' EQUITY AND | | | | |
| LIABILITIES | | | | |
--------------------------------------------------------------------------------
| Share capital | 3 465 | 3 465 | 0,0 | 3 465 |
--------------------------------------------------------------------------------
| Share premium account | | | | |
--------------------------------------------------------------------------------
| Retained earnings | -1 635 | -538 | (..) | -537 |
--------------------------------------------------------------------------------
| Profit for the financial year | -11 | 267 | (..) | -1 098 |
--------------------------------------------------------------------------------
| Minority interests | | 0 | | 0 |
--------------------------------------------------------------------------------
| Total shareholders' equity | 1 819 | 3 194 | -43,0 | 1 830 |
--------------------------------------------------------------------------------
| NON-CURRENT LIABILITIES | 159 | 268 | -40,7 | 160 |
--------------------------------------------------------------------------------
| CURRENT LIABILITIES | 2 125 | 2 260 | -28,8 | 1 612 |
--------------------------------------------------------------------------------
| TOTAL SHAREHOLDERS' EQUITY AND | 4 103 | 5,722 | -37,3 | 3 602 |
| LIABILITIES | | | | |
--------------------------------------------------------------------------------
(..) = Change in excess of 100%
--------------------------------------------------------------------------------
| CHANGES IN SHAREHOLDERS' LIABILITY | | |
--------------------------------------------------------------------------------
| EUR 1,000 | Share | Share | Retained | Total |
| | capital | premium | earnings | |
| | | account | | |
--------------------------------------------------------------------------------
| Equity 1.1.2007 | 3 465 | | -1 635 | 1 830 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit for the financial year | | | -11 | -11 |
--------------------------------------------------------------------------------
| Equity 31.3.2007 | 3 465 | 0 | -11 | 1 819 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| CONSOLIDATED CASH FLOW | | | | |
| STATEMENT | | | | |
--------------------------------------------------------------------------------
| EUR 1,000 | 1-3 | 1-3 | Change, | 1-12 |
| | 2007 | 2006 | % | 2006 |
--------------------------------------------------------------------------------
| CASH FLOW FROM OPERATIONS | | | | |
--------------------------------------------------------------------------------
| Profit before taxes | -11 | 268 | (..) | -1 097 |
--------------------------------------------------------------------------------
| Adjustments | 40 | 53 | -24,5 | 192 |
--------------------------------------------------------------------------------
| Change in working capital | 34 | 284 | (..) | 1 198 |
--------------------------------------------------------------------------------
| Cash flow from operations | 63 | 595 | (..) | 293 |
--------------------------------------------------------------------------------
| CASH FLOW FROM INVESTMENTS | | | | |
--------------------------------------------------------------------------------
| Investments in tangible assets | -15 | 0 | | -24 |
--------------------------------------------------------------------------------
| Sales of tangible assets | 0 | 0 | | 270 |
--------------------------------------------------------------------------------
| Cash flow from investments | -15 | 0 | | 246 |
--------------------------------------------------------------------------------
| CASH FLOW FROM FINANCING | | | | |
--------------------------------------------------------------------------------
| Change in liabilities | 0 | -490 | -100,0 | -1 035 |
--------------------------------------------------------------------------------
| Dividends paid | | | | |
--------------------------------------------------------------------------------
| Other change in shareholders' | | | | |
| equity | | | | |
--------------------------------------------------------------------------------
| Cash flow from financing | 0 | -490 | -100,0 | -1 035 |
--------------------------------------------------------------------------------
| TOTAL LIQUID ASSETS | 48 | 105 | (..) | - 496 |
--------------------------------------------------------------------------------
| Liquid assets at the beginning | 73 | 569 | -87,2 | 569 |
| of the period | | | | |
--------------------------------------------------------------------------------
| Liquid assets at the end of | 121 | 473 | (..) | 73 |
| the period | | | | |
--------------------------------------------------------------------------------
(..) = Change in excess of 100 %
--------------------------------------------------------------------------------
| CONSOLIDATED INCOME STATEMENT BY QUARTER | | |
--------------------------------------------------------------------------------
| EUR 1,000 | 1-3 | 1-3 | 4-6 | 7-9 | 10-12 | Last 12 | 1-12 |
| | 2007 | 2006 | 2006 | 2006 | 2006 | months | 2006 |
--------------------------------------------------------------------------------
| NET SALES | 2 | 3 700 | 3 076 | 1 426 | 2 455 | 9 903 | 10 656 |
| | 947 | | | | | | |
--------------------------------------------------------------------------------
| Other | | 29 | 6 | 0 | 108 | 114 | 143 |
| operating | | | | | | | |
| income | | | | | | | |
--------------------------------------------------------------------------------
| Outsourcing | -893 | -1 201 | -823 | -225 | -769 | -2 079 | -3 017 |
| expenses | | | | | | | |
--------------------------------------------------------------------------------
| Change in | 17 | -66 | -48 | -25 | -115 | -211 | -294 |
| inventories | | | | | | | |
--------------------------------------------------------------------------------
| GROSS INCOME | 2 | 2 462 | 2 211 | 1 176 | 1 639 | 7 097 | 7 488 |
| | 071 | | | | | | |
--------------------------------------------------------------------------------
| Personnel | -1 | -1 299 | -1 457 | -993 | -1 358 | -5 106 | -5 047 |
| expenses | 240 | | | | | | |
--------------------------------------------------------------------------------
| Depreciation | -37 | -53 | -49 | -47 | -43 | -176 | -192 |
| and | | | | | | | |
| amortization | | | | | | | |
--------------------------------------------------------------------------------
| Other | -787 | -823 | -853 | -875 | -619 | -3 134 | -3 170 |
| operating | | | | | | | |
| expenses | | | | | | | |
--------------------------------------------------------------------------------
| OPERATING | 7 | 287 | -148 | -739 | -381 | -1 260 | -980 |
| PROFIT | | | | | | | |
--------------------------------------------------------------------------------
| Financial | -18 | -19 | -30 | -25 | -43 | -117 | -118 |
| expenses | | | | | | | |
--------------------------------------------------------------------------------
| Profit before | -11 | 268 | -178 | -764 | -424 | -1 377 | -1 098 |
| taxes | | | | | | | |
--------------------------------------------------------------------------------
| Income taxes | | -1 | 1 | 0 | 1 | 2 | 1 |
--------------------------------------------------------------------------------
| NET PROFIT | -11 | 267 | -177 | -764 | -423 | -1 375 | -1 097 |
--------------------------------------------------------------------------------
| Attributable | | | | | | | |
| to: | | | | | | | |
--------------------------------------------------------------------------------
| Equity | -11 | 267 | -177 | -764 | -423 | -1 375 | -1 097 |
| holders of | | | | | | | |
| the parent | | | | | | | |
| company | | | | | | | |
--------------------------------------------------------------------------------
| Minority | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| interests | | | | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| CONTINGENT LIABILITIES EUR | 31.3. | 31.3. | Change, | 31.12. |
| 1,000 | 2007 | 2006 | % | 2006 |
--------------------------------------------------------------------------------
| Floating charges | | | | |
--------------------------------------------------------------------------------
| Group companies* | 1 000 | 1 000 | 0 | 1 000 |
--------------------------------------------------------------------------------
| Collateral given | | | | |
--------------------------------------------------------------------------------
| Group companies | | 216 | -100,0 | |
--------------------------------------------------------------------------------
| Guarantees | | | | |
--------------------------------------------------------------------------------
| Group companies | 34 | 40 | -11,1 | 34 |
--------------------------------------------------------------------------------
| Leasing liabilities | 572 | 618 | -7,4 | 598 |
--------------------------------------------------------------------------------
| Total | 1 612 | 1 874 | -14,0 | 1 632 |
--------------------------------------------------------------------------------
| * As collateral on a EUR 1.0 million formalized line of credit | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| KEY FINANCIAL RATIOS | 1-3 | 1-3 | Change, | Last 12 | 1-12 |
| | 2007 | 2006 | % | months | 2006 |
--------------------------------------------------------------------------------
| Earning/share (EPS), EUR | 0,00 | 0,08 | -100,0 | -0,40 | -0,32 |
--------------------------------------------------------------------------------
| Equity/share, EUR | 0,52 | 0,92 | -43,5 | 0,52 | 0,53 |
--------------------------------------------------------------------------------
| Return on equity, % (12 | -0,6 | 34,9 | | -75,6 | -46,1 |
| months) | | | | | |
--------------------------------------------------------------------------------
| Return on investment, % | 0,5 | 28,7 | | -41,7 | -31,5 |
| (12 months) | | | | | |
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| Equity to total assets | 44,3 | 56,0 | | 44,3 | 51,0 |
| ratio, % | | | | | |
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| Gross capital expenditure, | 15 | 0 | | 39 | 24 |
| EUR 1,000 | | | | | |
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| Gross capital expenditure, | 0,5 | 0,0 | | 0,4 | 0,2 |
| % of net sales | | | | | |
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(..) = Change in excess of 100 %
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| SEGMENT INFORMATION | | | | |
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| NET SALES, EUR 1,000 | 1-3 | 1-3 | Change, | 1-12 |
| | 2007 | 2006 | % | 2006 |
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| Evia Plc | 2 772 | 3 512 | -21,1 | 10 060 |
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| Frame Graphics Oy | 259 | 283 | -8,5 | 980 |
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| Internal sales | -84 | -95 | -11,6 | -384 |
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| EVIA PLC GROUP | 2 947 | 3 700 | -20,4 | 10 656 |
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| GROSS INCOME, EUR 1,000 | 1-3 | 2006 | Change, | 2006 |
| | 2007 | | % | |
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| Evia Plc | 1 845 | 2 261 | -18,4 | 6 732 |
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| Frame Graphics Oy | 226 | 201 | 12,4 | 756 |
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| EVIA PLC GROUP | 2 071 | 2 462 | -15,9 | 7 488 |
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| OPERATING PROFIT, EUR 1,000 | 1-3 | 1-3 | Change, | 1-12 |
| | 2007 | 2006 | % | 2006 |
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| Evia Plc | 28 | 328 | -91,5 | -807 |
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| Frame Graphics Oy | -21 | -41 | -48,8 | -173 |
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| EVIA PLC GROUP | 7 | 287 | -97,6 | -980 |
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| AVERAGE NUMBER OF PERSONNEL | 1-3 | 1-3 | Change, | 1-12 |
| | 2007 | 2006 | % | 2006 |
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| Evia Plc | 82 | 84 | -2,4 | 82 |
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| Frame Graphics Oy | 10 | 8 | 25,0 | 10 |
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| EVIA PLC GROUP | 92 | 92 | 0,0 | 92 |
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| Return on investment, | |
| % (12 months)28.738.6-25.62.6 6.3Equity | |
| to total assets ratio, %56.051.97,9 51.3Gross capital | |
| expenditure, EUR 1,00009-100.00 27Gross capital expenditure, | |
| % | |
| of net sales0.00.3-100.00 0.2 | |
| SEGMENT INFORMATION NET SALES | |
| EUR | |
| 1,0001-3 | |
| 20061-3 | |
| 2005Change, | |
| %1-12 | |
| 2005Evia Oyj | |
| 3,5123,2817.011,422Frame Graphics Oy 28325610.51,115Internal | |
| sales -95-38150.0-412EVIA OYJ GROUP | |
| 3,7003,4995.712,125 GROSS INCOME | |
| EUR | |
| 1,0001-3 | |
| 20061-3 | |
| 2005Change, | |
| %1-12 | |
| 2005Evia Oyj | |
| 2,2612,326-2.87,965Frame Graphics Oy 2011868.1791EVIA OYJ GROUP | |
| 2,4622,512-2.08,756 OPERATING PROFIT | |
| EUR | |
| 1,0001-3 | |
| 20061-3 | |
| 2005Change, | |
| %1-12 | |
| 2005Evia Oyj | |
| 328442-25.8188Frame Graphics Oy -418-612.581Imputed items | |
| 000.00EVIA OYJ GROUP 287450-36.2269 AVERAGE NUMBER OF | |
| PERSONNEL1-3 | |
| 20061-3 | |
| 2005Change, | |
| %1-12 | |
| 2005Evia Oyj | |
| 84822.482Frame Graphics Oy 8714.38EVIA OYJ GROUP | |
| 92893.490Figures are unaudited. | |
| Evia Oyj offers its clients solutions and services that | |
| creatively and effectively combine marketing elements in order | |
| to increase customer value. In addition, Evia Oyj provides | |
| financial and administration services for Group companies. Frame | |
| Graphics Oy supplies post-production and animation services for | |
| use in the making of advertising films and television programs. | |
| | |
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| | |
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