ROCLA OYJ STOCK EXCHANGE RELEASE 12.2.2007 AT 12.30
ROCLA OYJ FINANCIAL STATEMENTS BULLETIN FOR THE FISCAL YEAR 1.1.-
31.12.2006
SUCCESS ON MARKETS, PRODUCTION THE BOTTLE-NECK
The Rocla Group had a successful year on the markets for warehouse
trucks in 2006. Order bookings clearly exceeded overall market
growth and the order backlog doubled. Delays in subcontracting and
component sourcing did, however, limit growth of production. Net
sales were EUR 104.4 million, an increase of 8% (2005: EUR 96.6
million). Earnings fell short of targets because of increased
materials prices and production bottle-necks. Operating profit
stayed clearly below that of the year before and was EUR 1.5
million (EUR 4.2 million). The Board proposes that a dividend of
0.20 euros per share (0.20 euros) be declared for the fiscal year
2006.
NET SALES AND OPERATING PROFIT BY BUSINESS SEGMENT
Consolidated net sales and operating profit in the fiscal year
2006 developed as follows:
Meur Net sales 1-12 Operating profit 1-12
2006 2005 Change % 2006 2005 Change %
Trucks 93.3 85.9 8.6 3.0 5.6 -45.6
AGVs 11.1 10.6 4.3 -1.6 -1.3 -16.7
Total 104.4 96.6 8.1 1.5 4.2 -65.2
BUSINESS OPERATIONS
Industrial trucks
Industrial trucks net sales in fiscal 2006 were EUR 93.3 million
(EUR 85.9 million). Operating profit was EUR 3.0 million (EUR 5.6
million):
Demand continued to grow on the key markets for Rocla warehouse
trucks. On the European market the overall number of trucks
ordered grew by 16% from the year before. Rocla´s order bookings
in the same period grew by 27%. The order book rose to record
levels, supported by the introduction of new products. Expansion
of the dealer network also supported inroads on new markets.
In Finland´s neighbouring markets Rocla´s focus was on truck
services. New concepts for service and maintenance of the
logistics equipment of customers were introduced in Finland and
Denmark. The rental and service business in these countries grew
strongly in the fiscal year 2006 in line with corporate strategy.
Rocla entered into several significant long-range service
contracts with customers in different business sectors. Roclas
Russian subsidiary OOO Rocla RUS started up in St. Petersburg in
2005 and in Estonia Rocla´s subsidiary started its operations in
April 2006.
Automated Guided Vehicles
Net sales of Automated Guided Vehicles came to EUR 11.1 million
(EUR 10.6 million) in 2006. Operating profit was EUR -1.6 million
(EUR -1.3 million).
The result of Automated Guided Vehicles is highly unsatisfactory.
The increase of materials costs weakened the result further
towards the end of the year. Operations have been largely based on
customer-tailored systems and it has been difficult to gain
benefits from the repetition of the solutions. By the end of 2007
Rocla will adopt a new mode of operations based on the application
of standard products. This program is estimated to improve the
results of the operations clearly in the future. The program is
proceeding as planned.
BALANCE SHEET AND FINANCING
At the end of 2006 the consolidated balance sheet total was EUR
82.3 million (EUR 68.2 million). Interest-bearing net debt was EUR
33.5 million (EUR 30.6 million), net gearing 145.9% (132.0%) and
the equity to assets ratio 28.4% (34.5%).
Cash flow from operations before investments was EUR 6.5 million
(EUR 7.2 million) and before financing EUR - 3.3 million (EUR 2.5
million).
Rocla carried out a significant financial transaction related to
the premises at the end of 2006. The Groups main operating
facilities at Järvenpää were built and expanded by Rocla in the
period 1977-1989. These operating facilities were sold in 1994 and
a rental arrangement for the premises was entered into on the same
occasion. In 1999 this arrangement was restructured and the rental
agreement for the premises was converted into a financial leasing
agreement that included a purchase option for the shares in the
real estate company Kiinteistö Oy Roclankuja 1. Rocla purchased
these shares on the last business day of 2006 and drew up a
financial arrangement for the deal. At this time Rocla negotiated
a EUR 10.0 million long-term loan that enabled the conversion of
the real estate leasing debt and some other short-term debts into
long-term debts.
RESULTS AND PROFITABILITY
The weakening of the results of the Rocla Group in comparison with
the year before was mainly a result of delays in materials
sourcing and cost escalations in raw materials. The costs of the
key raw materials, steel, copper, lead and aluminium have increase
by around one fifth during the course of one year. The added
expense comes to EUR 1.7 million on an annual basis. The success
of the truck services offering in the neighbouring market areas
brought about a significant change in the earnings model as the
share of rental and maintenance operations rose to a level even
higher than anticipated. The earnings on these contracts mainly
accrue during a period of 3-5 years even though truck deliveries
took place in 2006.
Consolidated income before taxes was EUR 0.4 million (EUR 3.4
million) and the net income for the period EUR 0.3 million (EUR
3.1 million):
Return on investment, ROI, was 3.3% p.a. (8.8%). Return on equity,
ROE, was 1.2% p.a. (14.7%).
Earnings per share, EPS, were 0.07 euros (0.82 euros). Considering
the dilution effect of option rights earnings per share for the
fiscal year 2006 were 0.07 euros (0.80 euros).
At the end of the year equity per share was 5.88 euros (6.00
euros).
DEVELOPMENT AND INVESTMENTS
Products
Rocla´s development activities have resulted in the market
introduction in 2006 of new products in which significant new
innovations have been commercialized. In May the new Humanic reach
truck family equipped with the integral mast was launched. Reach
trucks command a share of some 30% of the European market volume
for warehouse trucks and it is the number one product family of
the business. Humanic turned out to be a market success. Rocla´s
customer-focused truck design know-how proved its sustainability
as a competitive advantage. At the Sklad trade fair held in Moscow
in the fall of 2006 the Humanic truck was awarded a gold medal as
the most impressive product of the fair.
The fast rate of product renewal continues. In the fiscal year
2007 two new major product families will be introduced; an
automated truck based on warehouse truck technology and a stacker
with a driver platform.
Production
The shortfalls in truck deliveries were mainly due to component
shortages and delays in the sourcing of steel structures. The
component problem eased up somewhat in the second half of the year
but deliveries of the Humanic truck family, launched in spring,
were delayed because of subcontractor supply failures. These could
not be made up for in the last quarter of the year. Total truck
output in 2006 was 6,700, which is 11% more than in the year
before.
Development of production continues in line with the ongoing
development program (MP10000). In January the new mast line for
trucks was inaugurated in a special ceremony. Production is now
partly organized in two shifts and the welding capacity for masts
will be augmented with a new welding robot to be installed during
the year. The ambition is an increase of production capacity to
10,000 trucks per year in 2008.
Fixed assets
Gross investments in fixed assets were EUR 5.9 million (EUR 4.1
million). Out of this EUR 1.6 million (EUR 2.0 million) were
carried forward in the balance sheet in line with IFRS-practices
applicable to product development expenses.
INTEGRATION OF BUSINESS SEGMENTS
The integration work in warehouse trucks and automated guided
vehicles that was started up around one year ago has opened up new
prospects for increasing the effectiveness of business operations.
Product development and assembly competence gained in warehouse
trucks can be used to replace the previous tailoring of automated
guided vehicles by substituting them with the technology platform
of the Humanic truck and additional required automation features.
This mode of operation has been found to match almost the entire
current customer needs in automated guided vehicles and it is
expected to result in a major boost to cost efficiency and
significantly shorter lead-times in this product area. The
complete concept is estimated to be in place by the last quarter
of this year.
CORPORATE STRUCTURE AND MANAGEMENT
The wholly owned Finnish subsidiaries, Rocla Rent Oy and Rocla
Robotruck Oy, were merged with their parent company Rocla Oyj on
December 31, 2006. This merger matches the renewal of the Group´s
business operations. At the same time it increases efficiency and
reduces administrative costs. The management structure is revamped
to match the new operating model. Rocla is now managed as a one
business area company. The core business is development of
intelligent logistics solutions and services and the global
offering of these with Europe the main market.
REPORTING
The new and simplified operational mode of the Rocla Group also
entails the renewal of segment reporting. As of 2007 the Group´s
business operations and results are reported as one segment;
Materials Handling Solutions. The management responsibilities
following from the new mode of operations are described in the
below section on management.
MANAGEMENT
Management of the Rocla Group is renewed to match the new business
structure. Business operations are divided into units, the names
of which are Products, Projects and the country organizations in
charge of customer services Finland, Denmark and Russia.
Jussi Muikku, Managing Director, is assisted in operational
decision making by a five member executive team consisting of
Pentti Salonen, Products, Jukka Viinikainen, Customer Services
Finland, Anselmi Immonen, Projects and function heads Juha
Mikkonen, Business Support and Hilkka Webb, Finance.
The expanded executive team consists of the above and Peter
Möller, Denmark Country Manager, Konstantin Titov, Russia Country
Manager, Kyösti Sarkkinen, Mentoring, Markus Alholm, Business
Development and Mia Sipilä-Heikura, Marketing.
PERSONNEL
In 2006 the Group had an average personnel of 467 people (439). At
the end of the year 489 people (445) were employed by the Rocla
Group. Of this number 87 (78) worked in the company´s business
operations outside Finland.
ANNUAL GENERAL MEETING
Financial statements
The Annual General Meeting held on April 4, 2006 adopted the
financial statements for 2005 and discharged those accountable
from liability. The Board´s proposal to declare a dividend of 0.20
euros per share (0.15 euros) was adopted. The record-date for the
dividend payment was 11.4.2006 and payment took place on
20.4.2006.
Board of Directors and auditors
The number of board members was confirmed at six. Ilkka Hakala,
Donald V. Henn, Frans Maarse and Niilo Pellonmaa were re-elected
board members. Bo Harald and Eero Karvonen were elected new board
members. In its first meeting the board elected Niilo Pellonmaa
Chairman.
The auditing firm KPMG Oy Ab was elected auditor with Lasse
Holopainen, CA, auditor-in-charge.
Authorizations
The Annual General Meeting authorized the Board to decide on the
acquisition of 194,535 Rocla Oyj shares and the transfer of
229,035 shares. In addition the Annual General Meeting authorized
the Board to decide on a share capital increase of a maximum of
388,000 shares in a new share issue in one or several stages.
The authorizations are valid for one year after the close of the
Annual General Meeting. The company transferred 3,711 of its own
shares as part of the stock option plan for management. Otherwise
the authorizations have not been used.
Shares and option rights
During 2006 a total of 399,635 Rocla Oyj shares were traded at the
Helsinki Exchanges. This corresponds to around 10% of the total
number of shares excluding treasury shares held by the company
itself. The value of the turnover of Rocla Oyj shares was
5,091,169 euros. In the fiscal year 2006 the highest share price
was 15.20 euros and the lowest 10.51 euros. The average price was
12.71 euros and the closing price for the year was 11.67 euros.
At the end of the fiscal year the market capitalization of the
entire stock of the company was EUR 45.6 million (EUR 42.9
million) excluding treasury shares.
A total of 469,210 Rocla Oyj option rights under the 1998 option
program were traded during the fiscal year. The average trading
price was 4.85 euros and the closing price 3.45 euros. A total of
48,765 shares were subscribed based on option rights during the
fiscal year.
OWNERSHIP
There were no major changes in the ownership of Rocla Oyj during
2006. The ownership of the company is presented in the tables
below.
The ten biggest owners of Rocla Oyj on December 31, 2006:
Owner Number of shares % %
of shares of votes
1. Etra-Invest Oy Ab 1,000,000 25.4 25.4
2. Mitsubishi Caterpillar 600,000 15.2 15.2
Forklift Europe B.V.
3. Mitsubishi Caterpillar 600,000 15.2 15.2
Forklift America Inc.
4. Aktia Capital Investment Fund 190,000 4.8 4.8
5. Henki-Sampo Insurance Company 171,200 4.3 4.3
6. Fennia Mutual Insurance Company 47,000 1.2 1.2
7. Eläke-Fennia Mutual
Insurance Company 45,900 1.2 1.2
8. EVK-Capital Oy 43,900 1.1 1.1
9. Niilo Pellonmaa 41,500 1.1 1.1
10. Rocla Oyj 30,789 0.8 0.8
Total ten biggest 2,770,289 70.3 70.3
Nominee-registered 533,000 13.5 13.5
Total 3,939,478 100.0 100.0
During the fiscal year Rocla Oyj transferred 3,711 of its own
shares as part of the management stock option scheme.
Shares held by Board Members
Members of the Board and the Managing Director held a total of
100,055 Rocla Oyj shares at the turn of the year. This constitutes
2.5% of the share capital.
RISKS
The major strategic and operational risks associated with the
Groups business operations are attached to the management of
partnerships, assessment of the competitive strength of new
products, cost development of production factors and obligations
and estimates pertaining to long-term agreements. In operational
risks materials cost increases in particular made an impact in the
fiscal year that could not be fully compensated for in product
pricing. Risk administration is improved by i.e. developing the
business planning and forecasting processes.
Interest rate and exchange rate risks are partly hedged through
interest swap deals and currency future agreements. Liabilities
and credit losses are administered through the insurance policies
of the Group. The liquidity risk is administered by sufficient
credit limit arrangements. Financial, liability and credit loss
risks made no major profit impact in 2006.
ORDER BOOK
At the turn of the year the Groups order book stood at EUR 26.8
million. It is the all-time highest in the history of the company
and about twice the size of the order book a year ago (EUR 13.9
million) and in proportion to the normal order-book level. The
order-book of Industrial trucks was EUR 20.9 million (EUR 8.7
million) and that of Automated Guided Vehicles EUR 5.9 million
(EUR 5.2 million).
OUTLOOK
The atmosphere on the Group´s major markets continues to be
positive and the strong demand is expected to endure. Rocla starts
the year 2007 with a record-level order-book and the momentum
gained from new products. The key factors for generating results
especially in the beginning of 2007 are therefore related to
elimination of the component shortage, catching up with delays in
deliveries and a balanced build-up of capacity.
The sales of the Group are expected to grow over 10% from last
year. A number of activities have been initiated in order to
clearly improve the profits. Among them are measures to improve
industrial through-put and also action such as price increases,
improved sourcing, resource allocations to sales and services and
general cost control. Accomplishing the ongoing Automated Guided
Vehicles projects efficiently and adopting the new product concept
and corresponding operating procedures successfully are also key
steps in improving profitability.
THE BOARD´S PROPOSAL FOR THE ALLOCATION OF PROFITS
The Board proposes to the 2007 Annual General Meeting that a
dividend of 0.20 euros per share (0.20 euros) be declared for a
total dividend payment of around EUR 0.8 million based on the
externally held company shares. No dividend is paid on treasury
shares. The company´s stated dividend policy is based on a
dividend payment of a minimum of 30% on net income. The Board´s
current dividend proposal equals a 286.1% dividend payout ratio.
INCOME STATEMENT (Meur)
1-12/2006 1-12/2005 Change %
NET SALES 104.4 96.6 8.1
Change in finished goods
and work in progress 2.3 0.9
Other operating income 0.3 0.3
Materials and services -65.9 -57.8 13.9
Personnel expenses -21.2 -19.5 8.6
Depreciation -6.6 -5.5 19.1
Other operating expenses -12.0 -10.7 12.1
OPERATING PROFIT 1.5 4.2 -65.2
Financial expenses (net) -1.1 -0.8 33.9
PROFIT/LOSS BEFORE TAXES 0.4 3.4 -88.3
Income taxes -0.1 -0.3 -60.8
PROFIT/LOSS FOR THE PERIOD 0.3 3.1 -91.3
EARNINGS PER SHARE (euros) 0.07 0.82
Earnings per share, euros
(diluted) 0.07 0.80
BALANCE SHEET (Meur) 12/2006 12/2005
ASSETS
NON-CURRENT ASSETS
Intangible assets 8.2 7.8
Consolidated goodwill 1.1 1.1
Tangible assets 26.8 23.5
Receivables 0.1 0.3
NON-CURRENT ASSETS TOTAL 36.2 32.9
CURRENT ASSETS
Inventories 21.4 18.5
Sales receivables and
other receivables 22.0 16.1
Cash and cash equivalents 2.7 0.6
CURRENT ASSETS TOTAL 46.2 35.3
TOTAL ASSETS 82.3 68.2
EQUITY AND LIABILITIES
Share capital 3.9 3.9
Premium fund 4.6 4.2
Retained earnings 14.1 11.8
Net income for the period 0.3 3.1
EQUITY TOTAL 23.0 23.1
NON-CURRENT LIABILITIES
Interest-bearing debt 19.2 14.1
Deferred taxes 1.1 1.2
NON-CURRENT LIABILITIES TOTAL 20.3 15.3
CURRENT LIABILITIES
Interest-bearing debt 17.1 17.0
Provisions 0.4 0.4
Non interest-bearing debt 21.5 12.2
CURRENT LIABILITIES TOTAL 39.0 29.7
LIABILITIES TOTAL 59.3 45.0
EQUITY AND LIABILITIES TOTAL 82.3 68.2
KEY RATIOS 12/2006 12/2005
Net sales, Meur 104.4 96.6
Operating profit, Meur 1.5 4.2
% of net sales 1.4 4.4
Income before taxes, Meur 0.4 3.4
% of net sales 0.4 3.6
Equity/share, euros 5.88 6.00
Equity/assets ratio, % 28.4 34.5
Return on equity,% p.a. 1.2 14.7
Gross investments, Meur 5.9 4.1
Return on investment, % p.a. 3.3 8.8
Dividend/share, euros *) 0.20 0.20
Dividend/income, % *) 286.1 24.4
Dividend yield, % *) 1.7 1.8
Product development expenses,
total, Meur 4.4 4.0
total, % of net sales 4.2 4.2
Personnel,
average 467 439
Personnel,
end of period 489 445
*) The Board´s proposal
OTHER DATA
Order book, Meur 26.8 13.9
Shares, 1,000,
average 3,860 3,788
Shares, 1,000,
diluted, average 4,014 3,863
Shares, 1,000,
End of period 3,909 3,856
Treasury shares are excluded from the number of shares.
CONTINGENT COMMITMENTS (Meur)
12/06 12/05
For own debt:
Mortgages on real estate 0.5 0.5
Corporate mortgages 9.4 9.4
Other own commitments:
Leasing commitments 0.8 0.9
Rental commitments 0.9 0.3
Repurchase commitments 0.7 0.2
CHANGES IN EQUITY CAPITAL
A=Share capital, B=Premium fund, C=Translation differences,
D=Current value fund, E=Retained earnings, F=Income for the
period, G=Total
1-12/2006 A B C D E F G
Beginning 3.9 4.2 0.1 0.1 14.9 - 23.1
Share subscriptions,
option rights 0.0 0.3 0.4
Dividend payment -0.8 -0.8
Income for the period 0.3 0.3
Transfer of
own shares 0.0 0.0 0.0
Other changes -0.1 -0.0 0.0
End 3.9 4.6 0.0 0.0 14.1 0.3 23.0
1-12/2005 A B C D E F G
Beginning 3.9 3.8 0.0 0.0 11.4 - 19.2
Dividend payment -0.6 -0.6
Income for the period 3.1 3.1
Sale of treasury
shares 0.5 0.9 1.4
Other changes 0.0 0.1 0.1
End 3.9 4.2 0.1 0.1 11.8 3.1 23.1
FUNDS STATEMENT 1-12/06 1-12/05
Cash flow from operations
Net income for the period 0.3 3.1
Adjustments:
-Depreciation 6.6 5.5
-Financial income and expenses1.1 0.8
-Taxes 0.1 0.3
-Other adjustments 0.0 0.1
Change in working capital 0.2 -1.2
Interests paid -1,5 -1.3
Interests received 0.0 0.1
Taxes paid -0.3 -0.3
CASH FLOW FROM OPERATIONS 6.5 7.2
CASH FLOW FROM INVESTMENTS -9.8 -4.7
Cash flow from financing
Loans withdrawn 11.6 2.5
Loans repaid -2.8 -2.8
Increase in equity 0.4 0.0
Sale of treasury shares 0.0 1.5
Payment of financial
leasing debts -3.0 -3.4
Dividends paid -0.8 -0.6
NET CASH FLOW FROM FINANCING 5.5 -2.8
CHANGE IN LIQUID FUNDS 2.2 -0.3
Liquid assets
beginning of period 0.6 0.8
Liquid assets
end of period 2.7 0.6
INCOME STATEMENT BY QUARTER (Meur)
10-12 7-9 4-6 1-3 10-12 7-9 4-6 1-3
2006 2006 2006 2006 2005 2005 2005 2005
NET SALES 30.8 22.5 26.0 25.1 27.7 21.2 24.0 23.7
Change in finished goods and
work in progress 0.6 0.5 0.8 0.4 -0.9 1.7 0.2 -0.1
Other operating
income 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.0
Materials and
services -20.0-14.5 -16.4 -15.0 -16.2 -13.9 -13.6-14.2
Personnel expenses -5.9 -4.8 -5.4 -5.1 -5.4 -4.2 -5.3 -4.6
Depreciation -1.7 -1.8 -1.6 -1.5 -1.5 -1.4 -1.4 -1.4
Other operating
expenses -3.4 -2.7 -3.2 -2.7 -3.1 -2.3 -2.9 -2.4
OPERATING PROFIT 0.4 -0.6 0.5 1.3 0.8 1.2 1.2 1.1
Financial expenses
(net) -0.2 -0.6 -0.2 -0.1 0.0 -0.2 -0.4 -0.2
PROFIT/LOSS BEFORE
TAXES 0.2 -1.2 0.2 1.2 0.7 1.1 0.8 0.9
Income taxes 0.0 0.3 -0.1 -0.3 0.2 -0.1 -0.2 -0.2
PROFIT/LOSS FOR
THE PERIOD 0.2 -0.9 0.1 0.8 0.9 1.0 0.6 0.6
EARNINGS/SHARE
euros 0.06 -0.24 0.03 0.22 0.23 0.26 0.16 0.17
EARNINGS/SHARE
euros, diluted 0.06 -0.23 0.03 0.21 0.22 0.25 0.16 0.17
BALANCE SHEET BY QUARTER (Meur)
12/06 9/06 6/06 3/06 12/05 9/05 6/05 3/05
ASSETS
NON-CURRENT ASSETS
Intangible assets 8.2 7.7 8.0 7.8 7.8 7.7 7.5 7.4
Consolidated goodwill 1.1 1.1 1.1 1.1 1.1 1.1 1.2 1.2
Tangible assets 26.8 26.9 25.4 24.9 23.5 22.6 22.4 22.3
Receivables 0.1 1.0 0.3 0.4 0.3 0.6 0.5 0.4
NON-CURRENT ASSETS TOTAL36.2 36.8 35.0 34.3 32.9 32.1 31.6 31.3
CURRENT ASSETS
Inventories 21.4 20.1 19.5 19.5 18.5 20.2 19.5 17.1
Sales receivables and
other receivables 22.0 17.9 16.7 17.3 16.1 17.3 15.6 15.0
Cash and cash
equivalents 2.7 2.4 1.8 0.9 0.6 0.8 1.6 1.6
CURRENT ASSETS TOTAL 46.2 40.5 38.1 37.9 35.3 38.3 36.7 33.7
ASSETS TOTAL 82.3 77.3 73.2 72.2 68.2 70.4 68.3 65.0
EQUITY AND LIABILITIES
Share capital 3.9 3.9 3.9 3.9 3.9 3.9 3.9 3.9
Premium fund 4.6 4.3 4.3 4.2 4.2 4.2 4.2 3.8
Retained earnings 14.1 14.2 14.1 14.9 11.8 11.8 11.8 10.9
Net income for the
period 0.3 0.1 1.0 0.8 3.1 2.2 1.2 0.6
EQUITY TOTAL 23.0 22.5 23.4 24.0 23.1 22.2 21.2 19.2
NON-CURRENT LIABILITIES
Interest-bearing debt 19.2 14.2 12.7 13.4 14.1 14.8 14.9 15.7
Deferred taxes 1.1 1.0 1.3 1.3 1.2 1.1 0.6 0.7
NON-CURRENT LIABILITIES
TOTAL 20.3 15.1 14.0 14.7 15.3 15.9 15.5 16.4
CURRENT LIABILITIES
Interest-bearing debt 17.1 21.5 20.0 18.1 17.0 18.6 17.9 15.7
Provisions 0.4 0.5 0.5 0.4 0.4 0.5 0.5 0.5
Non interest-bearing
debt 21.5 17.7 15.2 14.9 12.2 13.2 13.1 13.2
CURRENT LIABILITIES
TOTAL 39.0 39.7 35.7 33.4 29.7 32.3 31.6 29.4
LIABILITIES TOTAL 59.3 54.8 49.7 48.2 45.0 48.2 47.1 45.8
EQUITY AND LIABILITIES
TOTAL 82.3 77.3 73.2 72.2 68.2 70.4 68.3 65.0
(The figures are unaudited)
ANNUAL GENERAL MEETING AND FINANCIAL DISCLOSURE IN 2007
The Rocla Oyj Annual General Meeting is held on April 3, 2007 at 5
p.m.
In 2007 Interim Reports are published as follows:
April 26 First quarter
July 17 First two quarters
October 25 First three quarters
The Interim Reports are published in the form of Stock Exchange
Releases in Finnish and English on the Internet-pages of the
Helsinki Exchanges (www.omx.com) and Rocla Oyj (www.rocla.com).
Järvenpää, February 12, 2007
ROCLA OYJ
Board of Directors
Jussi Muikku
Managing Director
For additional information, contact:
Jussi Muikku, Managing Director, phone +358 20 778 1370
Hilkka Webb, CFO, phone +358 20 778 1316
DISTRIBUTION
Helsinki Exchanges
The main media
ROCLA OYJ FINANCIAL STATEMENTS BULLETIN FOR THE FISCAL YEAR 1.1.-31.12.2006
| Source: Rocla Oyj