Aldata Solution Oyj
STOCK EXCHANGE RELEASE
6 November 2008 at 9.00 a.m. (EET)
ALDATA SOLUTION INTERIM REPORT JANUARY - SEPTEMBER 2008
Aldata in Q3 2008 (compared to Q3 2007)
* Net sales decreased by 5.6% to EUR 15.7 million (EUR 16.6
million).
* Gross profit decreased by 0.7% to EUR 14.0 million (EUR 14.1
million).
* Operating profit, EBIT, increased to EUR 0.1 million (EUR -1.8
million).
* Profit before taxes was EUR 0.6 million (EUR -2.0 million).
* Net profit was EUR 0.5 million (EUR -1.9 million) and earnings
per share, EPS, were 0.007 EUR (-0.027 EUR).
Aldata in January - September 2008 (compared to January - September
2007)
* Net sales were EUR 52.8 million (EUR 54.1 million).
* Gross profit was EUR 46.5 million (EUR 44.5 million) and EBITDA
was EUR 3.6 million (EUR -4.3 million).
* Operating profit, EBIT, was EUR 2.5 million (EUR -5.3 million)
and profit before taxes was EUR 2.4 million (EUR -5.6 million).
* Net profit was EUR 2.1 million (EUR -5.7 million) and earnings
per share, EPS, were 0.030 EUR (-0.083 EUR).
* The Company has decided to update its guidance for 2008. The
Company now expects full-year net sales of EUR 70 to 73 million
and an EBIT of EUR 3.0 to 4.5 million.
Message from CEO Bertrand Sciard"Aldata delivered a profitable result in Q3 2008, a traditionally
weak sales quarter. This was a
good achievement in a period where the global financial crisis had a
significant impact on customer decisions towards the quarter end.
The efficiencies and flexibilities built into our business in the
first half of the year proved their worth in Q3 as our sales income
tightened and customers concerns grew over market conditions. New
customers continued to choose Aldata over our competitors and we
delivered significant customer "go-live" projects during the quarter,
as well as completing the first acquisition in our planned M&A
strategy.
New deals included the prestigious Maison du Chocolat global retail
chain based in France, Trinkgut a German beverages distributor, new
Syngenta sites in Spain and South Africa, and M.H. Alshaya Co., a
fast growing retailer which operates multiple franchises in the
Middle East.
The retail market, along with most others, is now suffering from the
macro-economic effects of global credit restrictions. Retail
companies are facing steep declines in consumer confidence in all
regions and higher financing costs so all projects are under close
scrutiny. The food and grocery sector, Aldata's core market, is less
affected than the more volatile discretionary goods and apparel
retailers but new levels of operational efficiencies are required to
survive this downturn.
As announced at our recent American Customer meeting in Atlanta,
Aldata is focused on helping our customers through these difficult
times with new product and service offerings specifically designed to
bring down their costs, increase efficiency, and retain their
customers' business.
Our acquisition of Terraventum Oy in September is a case in point. We
can now provide Aldata clients with improved customer retention via
targeted loyalty marketing and digital communications to deepen
relations and grow sales. We will also gain new retail customers in
the hospitality, restaurant and leisure sectors where Terraventum has
had its existing success.
In these times of major economic change Aldata will remain focused on
its core retail and finished goods supply chain markets. We will
continue to improve our internal flexibility and efficiencies, build
strategic alliances with industry leaders to expand our presence, and
drive our strategic M&A activity to secure the best products and
people to grow profitable market share.
Customers are continuing to spend on our products, but the economic
and business environment is uncertain. Our balance sheet is strong,
our business model is flexible and we are focusing on protecting our
operating margins and earnings."
July - September 2008 financial performance
The Group's net sales were EUR 15.7 million (EUR 16.6 million), which
represents a decline of EUR 0.9 million compared to third quarter net
sales in the previous year. Product sales, which include licences for
standard products, licences for customer specific developments, and
maintenance revenues, accounted for 54% (38%) of total net sales.
Consulting services accounted for 42% (50%), and third party licences
and hardware accounted for 4% (12%).
The Group's gross profit was EUR 14.0 million (EUR 14.1 million),
which represents an 89% (85%) gross margin. Operating profit, EBIT,
totalled EUR 0.1 million (EUR -1.8 million) and operating profit
excluding expenses for option plans was EUR 0.3 million (EUR -1.7
million).
Pre-tax profit was EUR 0.6 million (EUR -2.0 million), net profit was
EUR 0.5 million (EUR -1.9 million) and earnings per share, EPS, were
0.007 EUR (-0.027 EUR).
Research and development costs in the third quarter totaled EUR 1.7
million (EUR 2.4 million), of which EUR 0.3 million (EUR 0.2 million)
or 19.3% were capitalized. EUR 0.1 million (EUR 0.1 million) of
capitalized development costs were amortized.
Aldata's reported order backlog includes product and third party
product sales that will be recognized as revenues during the
following twelve months. At the end of September 2008, the order
backlog was EUR 19.8 million (EUR 19.4 million at the end of
September 2007 and EUR 20.0 million at the end of June 2008).
Business units in Q3
Net sales of the Supply Chain Management (SCM) Software business unit
were EUR 12.7 million (EUR 12.4 million). The gross profit was EUR
11.9 million (EUR 11.4 million) and the operating profit, EBIT, was
EUR -0.2 million (EUR -1.4 million).
Net sales of the In-Store Software business unit were EUR 3.0 million
(EUR 4.2 million). The gross profit was EUR 2.6 million (EUR 2.7
million) and the operating profit, EBIT, was EUR 1.2 (EUR 0.3)
million.
There were no internal sales between the Group's business segments.
Unallocated costs, the Group's shared items netted, decreased the
Group's operating profit, EBIT, by EUR 0.9 million (EUR 0.6 million).
January - September 2008 financial performance
The Group's net sales were EUR 52.8 million (EUR 54.1 million), which
represents a decline of EUR 1.3 million compared to first three
quarters net sales in the previous year. Product sales, which include
licences for standard products, licences for customer specific
developments and maintenance revenues, accounted for 48% (41%) of
total net sales. Consulting services accounted for 45% (49%) and
third party licences and hardware accounted for 7% (10%).
The Group's gross profit was EUR 46.5 million (EUR 44.5 million),
which represents a 88% (82%) gross margin. Operating profit, EBIT,
totaled EUR 2.5 million (EUR -5.3 million) and operating profit
excluding expenses for option plans was EUR 2.9 million (EUR -4.9
million).
Pre-tax profit was EUR 2.4 million (EUR -5.6 million), net profit was
EUR 2.1 million (EUR -5.7 million) and earnings per share, EPS, were
0.030 EUR (-0.083 EUR).
Research and development costs in the financial period totaled EUR
5.8 million (EUR 7.9 million), of which EUR 0.8 million (EUR 0.7
million) or 14.7% were capitalized. EUR 0.4 million (EUR 0.3 million)
of capitalized development costs were amortized.
Taxes for the period were EUR 0.2 million (EUR 0.1 million).
Business units in January - September
Net sales of the Supply Chain Management (SCM) Software business unit
were EUR 42.5 million (EUR 42.6 million). The gross profit was EUR
38.5 million (EUR 36.6 million) and the operating profit, EBIT, was
EUR 1.2 million (EUR -4.2 million).
Net sales of the In-Store Software business unit were EUR 10.3
million (EUR 11.5 million). The gross profit was EUR 8.5 million (EUR
7.9 million) and the operating profit, EBIT, was EUR 3.4 (EUR 0.1)
million.
There were no internal sales between the Group's business segments.
Unallocated costs, the Group's shared items netted, decreased the
Group's operating profit, EBIT, by EUR 2.1 million (EUR 1.1 million).
Finance and investments
Cash flow from operating activities in the first three quarters of
the year was EUR 4.4 million (EUR -0.9 million) and net cash flow was
EUR -0.3 million (EUR 2.0 million).
At the end of September 2008, Aldata Group's cash, cash equivalents
and marketable securities amounted to EUR 8.8 million (EUR 7.7
million) and total assets were EUR 50.7 million (EUR 50.4 million).
The Group had interest-bearing debt EUR 1.5 million (EUR 3.5 million)
and interest-bearing net liabilities totaled EUR -6.7 million (EUR
-3.2 million). Short term receivables totaled EUR 26.4 million (EUR
27.4 million). The Group's solvency ratio was 45.1% (51.0 %), gearing
was -29.8% (-12.7%), and shareholders' equity per share was 0.324 EUR
(EUR 0.369).
The Group's capital expenditure on hardware and software purchases
amounted to EUR 1.7 million (EUR 1.9 million) in the first three
quarters of the year. A total of EUR 0.8 million (EUR 0.7 million) of
development costs were capitalized during the period.
Research and Development
Aldata's research and development costs were EUR 5.8 million (EUR 7.9
million) and made up 10.9% (14.6%) of net sales. A total of EUR 0.8
million (EUR 0.7 million) of development costs were capitalized
during the period. EUR 0.4 million (EUR 0.3 million) of capitalized
development costs were amortized.
At the end of the review period 151 (177) employees were involved in
R&D activities. This represents 28% (29%) of the Group's total
personnel. Aldata's R&D centres are located in Paris, France and in
Vantaa, Finland.
Personnel
Aldata Group employed 540 (616) persons at the end of September 2008,
and on average had 539 (630) employees during the period.
30 September 2008 30 September 2006
By business unit Persons % Persons %
SCM Software 446 83 495 80
In-Store Software 82 15 110 18
Group Administration 12 2 11 2
Total 540 100 616 100
Approximately 55% of personnel were employed by Aldata companies in
France, 14% in Finland, 11% in Germany, 6% in the US, 5% in Sweden,
4% in Slovenia, 3% in the UK and 2% in Russia.
Share performance
The highest price of the Aldata Solution Oyj share during January -
September 2008 was EUR 1.25 and the lowest price EUR 0.90. The
average price was EUR 1.02 and the closing price EUR 0.97. The
trading volume on the Helsinki Stock Exchange was EUR 26.1 million
and altogether 25.6 million shares were traded, which represents 37%
of the shares. Aldata Solution Oyj has 68.7 million shares
outstanding. The number of shares outstanding has increased by
457.900 shares during the period.
The number of shareholders was 4.340 and the free float was 100% of
the share capital at the end of September 2008. A total of 43.3% of
Aldata Solution Oyj's shares were owned by foreign investors at the
end of the period.
Risks and uncertainty factors
Risks and uncertainty factors associated with Aldata's business are
mainly related to the market and competitive situation and general
economic development.
The global economic conditions have significantly deteriorated in
the past few months and this combined with increased cost of
financing for companies and steep declines in consumer confidence
across all geographical regions has affected and will affect Aldata's
operations. The Company has acted to the new economic environment in
order to limit the risks associated with a weakening global economy.
A further worsening of the economic situation would effect in delays
of large projects and investment decisions. Aldata is with its
flexible business model and strong balance sheet prepared to take new
actions, if the situation further worsens.
Outlook
The recent significant deterioration of global economic conditions
has decreased the Company's visibility to its financial performance.
Therefore, the Company has decided to update its guidance for 2008.
The Company expects to generate in the fourth quarter net sales
between EUR 17 to 20 million and an operating profit (EBIT) of EUR
0.5 to 2.0 million. This represents full-year net sales of EUR 70 to
73 million and an EBIT of EUR 3.0 to 4.5 million. In the previous
outlook released on August 19, 2008 net sales was expected to grow
compared to 2007 and the operating profit (EBIT) was expected to be
at least EUR 6 million.
Helsinki, November 6, 2008
Aldata Solution Oyj
Board of Directors
Further information:
Bertrand Sciard, President and CEO, tel. +358 10 820 8000 / Aldata
Solution Oyj.
Thomas Hoyer, CFO, tel. +358 10 820 8010
Aldata will hold a press conference for the media and financial
analysts in Helsinki on 6 November, at 12.00 (EET) at the Palace
Hotel (Eteläranta 10) in the Cabinet 3 on the 10th floor.
The presentation material will be published on the Group's website at
www.aldata-solution.com
Aldata 100% Retail-Wholesale
At Aldata 100% of our business is dedicated to retail and wholesale
business improvement. We provide our customers with modern, flexible
and integrated software solutions specifically designed to increase
productivity, performance and profitability. With over 24,000
successful installations across 52 countries, from convenience store
to hypermarket, 480+ live warehouses and customers with 5 to 5,000
outlets, we consistently deliver the goods for retail and wholesale
business improvement. Aldata Solution is a public company quoted on
NASDAQ OMX Helsinki Ltd with the identifier ALD1V. More information
at: www.aldata-solution.com.
Distribution:
NASDAQ OMX Helsinki Ltd
Media
TABLE PART
Calculation methods
This interim report has been prepared in accordance with IFRS standards and the same
accounting principles as in 2007 financial statements but the report does not comply
with all requirements of IAS 34, Interim Financial Reporting. The interim report is
unaudited.
CONSOLIDATED INCOME Change
STATEMENT MEUR MEUR % MEUR
Jan-Sep Jan-Sep Total
/2008 /2007 2007
Net sales 52,8 54,1 -2,4 74,7
Other operating income 0,6 0,4 60,2 0,4
Operating expenses -49,9 -58,8 15,2 -84,8
Depreciations and impairments -1,1 -1,0 -9,9 -1,4
Operating profit 2,5 -5,3 146,8 -11,1
Financial items -0,1 -0,3 63,5 -0,6
Profit before taxes 2,4 -5,6 142,0 -11,7
Income taxes -0,2 -0,1 -177,4 0,0
Minority interest 0,0 0,0 -417,5 0,0
Profit for the financial period 2,1 -5,7 136,7 -11,7
Earnings per share, EUR 0,030 -0,083 -0,171
Earnings per share, EUR (EPS), adjusted
for dilution effect 0,030 -0,083 -0,170
CONSOLIDATED BALANCE SHEET MEUR MEUR MEUR
30 Sep 30 Sep 31 Dec
2008 2007 2007
ASSETS
NON-CURRENT ASSETS
Goodwill 9,4 9,4 9,4
Capitalized development cost 2,6 1,8 2,2
Intangible assets 0,7 0,4 0,3
Tangible assets 1,3 1,7 1,6
Investments 0,1 0,0 0,0
Other long-term assets 0,1 0,7 0,1
Deferred tax assets 0,9 0,4 0,9
NON-CURRENT ASSETS TOTAL 15,2 14,6 14,6
CURRENT ASSETS
Inventories 0,3 0,6 0,3
Short-term receivables 26,4 27,4 26,7
Cash and cash equivalents 8,8 7,7 9,1
CURRENT ASSETS TOTAL 35,5 35,7 36,7
ASSETS TOTAL 50,7 50,4 51,3
SHAREHOLDERS' EQUITY AND
LIABILITIES
Shareholders' equity 22,3 25,3 19,6
Minority interest 0,1 0,1 0,1
Long-term loans 2,0 2,0 4,2
Short-term loans 26,3 23,0 27,3
EQUITY AND LIABILITIES TOTAL 50,7 50,4 51,3
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Share
Share premium Translation Retained
TEUR capital fund difference earnings Total
EQUITY 1.1.2006 674 17 002 -75 7 476 25 078
Translation
difference 0 0 42 0 42
Result of the
financial year 0 0 0 2 526 2 526
Total 0 0 42 2 526 2 568
Issue of share
capital 6 1 143 0 0 1 149
Exercise of options 1 146 0 0 147
Share based payments
recognised against
equity 0 0 0 860 860
7 1 289 0 860 2 156
EQUITY 31.12.2006 681 18 291 -33 10 862 29 802
Translation
difference 0 0 396 0 396
Result of the
financial year 0 0 0 -11 729 -11 729
Total 0 0 396 -11 729 -11 333
Exercise of options 5 705 0 0 710
Share based payments
recognised against
equity 0 0 0 440 440
5 705 0 440 1 150
EQUITY 31.12.2007 686 18 996 363 -426 19 619
Translation
difference 0 0 39 0 39
Result of the
financial year 0 0 0 2 088 2 088
Total 0 0 39 2 088 2 127
Exercise of options 1 158 0 0 159
Share based payments
recognised against
equity 0 0 0 381 381
1 158 0 381 540
EQUITY 30.9.2008 687 19 154 402 2 043 22 286
CONSOLIDATED CASH FLOW
STATEMENT MEUR MEUR MEUR
Jan-Sep 2008 Jan-Sep 2007 Jan-Dec 2007
Cash flow from operating
activities
Operating result 2,5 -5,3 -11,1
Adjustment to operating
result -0,2 1,1 6,8
Change in working capital 1,5 4,0 4,8
Interest received and other
financial income 0,3 0,1 0,2
Interest paid and other
financial expenses -0,2 -0,1 -0,2
Taxes paid 0,5 -0,7 -0,8
Net cash from operating
activities 4,4 -0,9 -0,4
Cash flow from investing
activities
Group companies acquired -0,3 0,0 0,0
Investments in tangible and
intangible assets -1,1 -1,3 -1,8
Net cash used in investing
activities -1,4 -1,3 -1,8
Cash flow before financing
activities 3,0 -2,1 -2,2
Cash flow from financing
activities
Long-term loans, repayments 0,0 -0,1 -0,1
Short term loans, received 0,2 3,5 5,0
Share issue -3,7 0,0 0,0
Net cash used in financing
activities 0,2 0,7 0,7
-3,3 4,2 5,7
Net cash flow, total
-0,3 2,0 3,5
Change in cash and cash
equivalents
Cash and cash equivalents at
the beginning of period -0,3 2,0 3,5
Cash and cash equivalents at
the end of period 9,1 5,7 5,7
8,8 7,7 9,1
NOTES TO THE INTERIM REPORT
COMMITMENTS AND CONTINGENCIES MEUR MEUR MEUR
30 Sep 2008 30 Sep 2007 31 Dec 2007
Loans from financial
institutions 1,5 3,5 5,0
Mortages 5,4 5,4 5,4
Leasing liabilities 11,5 14,6 10,7
Guarantees on behalf of company
debt 0,1 0,1 0,1
KEY FIGURES, MEUR Jan-Sep /2008 Jan-Sep /2007 Total 2007
Scope of Operations
Net sales, MEUR 52,8 54,1 74,7
Average number of personnel 539 630 625
Profitability
Operating profit , MEUR 2,5 -5,3 -11,1
Operating profit, % of net
sales 4,7 -9,8 -14,9
Profit before taxes and
minority
interest, MEUR 2,4 -5,6 -11,7
Profit before taxes and
minority
interest, % of net sales 4,5 -10,4 -15,7
Return on equity, % (ROE) 13,4 -27,5 -47,4
Return on investment, % (ROI) 18,7 -21,7 -37,8
Financial Standing
Quick ratio 1,3 1,5 1,3
Current ratio 1,4 1,6 1,3
Equity ratio, % 45,1 51,0 38,6
Interest-bearing net debt,
MEUR -6,7 -3,2 -3,3
Gearing, % -29,8 -12,7 -16,6
Per Share Data
Earnings per share, EUR (EPS) 0,030 -0,083 -0,171
Earnings per share, EUR (EPS),
adjusted for dilution effect 0,030 -0,083 -0,170
Shareholders' equity per
share,
EUR 0,324 0,369 0,286
SEGMENT INFORMATION, MEUR
BUSINESS SEGMENTS Jan-Sep/2008 Jan-Sep/2007 Jan-Dec/2007
Net sales to external
customers
Supply Chain Management
Software 42,5 42,6 58,1
In-Store Software 10,3 11,5 16,6
Total 52,8 54,1 74,7
Operating result, continuing
operations
Supply Chain Management
Software 1,2 -4,2 -8,2
In-Store Software 3,4 0,1 -0,2
Total 4,6 -4,2 -8,4
Unallocated items -2,1 -1,1 -2,7
Operating profit 2,5 -5,3 -11,1
Financial income and expenses -0,1 -0,3 -0,6
Result before taxes and
minority
interest 2,4 -5,6 -11,7
Taxes -0,2 -0,1 0,0
Minority interest 0,0 0,0 0,0
Result from continuing
operations 2,1 -5,7 -11,7
Result for the financial
period 2,1 -5,7 -11,7
INCOME STATEMENT MEUR MEUR MEUR MEUR MEUR
QUARTERLY FIGURES Q3/2008 Q2/2008 Q1/2008 Q4/2007 Q3/2007
Net sales 15,7 18,0 19,1 20,6 16,6
Other operating income 0,2 0,1 0,3 0,0 0,1
Operating expenses -15,4 -16,6 -17,9 -26,0 -18,2
Depreciations and
impairments -0,4 -0,4 -0,3 -0,4 -0,4
Operating profit 0,1 1,2 1,1 -5,8 -1,8
Financial items 0,4 0,0 -0,6 -0,3 -0,2
Profit before taxes 0,6 1,2 0,6 -6,1 -2,0
Income taxes -0,1 -0,1 -0,1 0,1 0,1
Minority interest 0,0 0,0 0,0 0,0 0,0
Profit for the financial
period 0,5 1,1 0,5 -6,0 -1,9
INCOME STATEMENT MEUR MEUR MEUR MEUR MEUR
CUMULATIVE 1-9/08 1-6/08 1-3/08 1-12/07 1-9/07
Net sales 52,8 37,1 19,1 74,7 54,1
Other operating income 0,6 0,4 0,3 0,4 0,4
Operating expenses -49,9 -34,5 -17,9 -84,8 -58,8
Depreciations and
impairments -1,1 -0,7 -0,3 -1,4 -1,0
Operating profit 2,5 2,3 1,1 -11,1 -5,3
Financial items -0,1 -0,6 -0,6 -0,6 -0,3
Profit before taxes 2,4 1,8 0,6 -11,7 -5,6
Income taxes -0,2 -0,2 -0,1 0,0 -0,1
Minority interest 0,0 0,0 0,0 0,0 0,0
Profit for the financial
period 2,1 1,6 0,5 -11,7 -5,7
BALANCE SHEET MEUR MEUR MEUR MEUR MEUR
30.9.08 30.6.08 31.3.08 31.12.07 30.9.07
ASSETS
NON-CURRENT ASSETS
Goodwill 9,4 9,4 9,4 9,4 9,4
Capitalized development
cost 2,6 2,4 2,3 2,2 1,8
Intangible assets 0,7 0,3 0,3 0,3 0,4
Tangible assets 1,3 1,4 1,5 1,6 1,7
Investments 0,1 0,1 0,1 0,0 0,0
Other long-term assets 0,1 0,1 0,1 0,1 0,7
Deferred tax assets 0,9 0,9 1,0 0,9 0,4
NON-CURRENT ASSETS TOTAL 15,2 14,7 14,8 14,6 14,6
CURRENT ASSETS
Inventories 0,3 0,3 0,3 0,3 0,6
Short-term receivables 26,4 27,1 32,4 26,7 27,4
Cash and cash equivalents 8,8 13,6 8,6 9,1 7,7
CURRENT ASSETS TOTAL 35,5 41,0 41,3 36,7 35,7
ASSETS TOTAL 50,7 55,8 56,1 51,3 50,4
SHAREHOLDERS' EQUITY AND
LIABILITIES
Shareholders' equity 22,3 21,9 20,6 19,6 25,3
Minority interest 0,1 0,1 0,1 0,1 0,1
Non-current liabilities 2,0 3,6 4,2 4,2 2,0
Current liabilities 26,3 30,2 31,2 27,3 23,0
EQUITY AND LIABILITIES
TOTAL 50,7 55,8 56,1 51,3 50,4
KEY FIGURES, MEUR Q3/2008 Q2/2008 Q1/2008 Q4/2007 Q3/2007
QUARTERLY FIGURES
Scope of Operations
Net sales, MEUR 15,7 18,0 19,1 20,6 16,6
Average number of personnel 539 543 546 625 630
Profitability
Operating profit , MEUR 0,1 1,2 1,1 -5,8 -1,8
Operating profit, % of net
sales 0,9 6,6 6,0 -28,2 -10,8
Profit before taxes and
minority interest, MEUR 0,6 1,2 0,6 -6,1 -2,0
Profit before taxes and
minority interest, % of net
sales 3,7 6,6 3,1 -29,7 -11,9
Return on equity, % (ROE) 13,4 15,3 9,2 -47,4 -27,5
Return on investment, %
(ROI) 18,7 21,4 19,4 -37,8 -21,7
Financial Standing
Quick ratio 1,3 1,3 1,3 1,3 1,5
Current ratio 1,4 1,4 1,3 1,3 1,6
Equity ratio, % 45,1 40,3 37,6 38,6 51,0
Interest-bearing net debt,
MEUR -6,7 -9,3 -4,2 -3,3 -3,2
Gearing, % -29,8 -42,4 -20,4 -16,6 -12,7
Per Share Data
Earnings per share, EUR
(EPS) 0,007 0,016 0,007 -0,088 -0,027
Earnings per share, EUR
(EPS), adjusted for dilution
effect 0,007 0,016 0,007 -0,088 -0,027
Shareholders' equity per
share, EUR 0,324 0,319 0,300 0,286 0,369
ALDATA SOLUTION INTERIM REPORT JANUARY - SEPTEMBER 2008
| Source: Aldata Solution Oyj
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