Aldata Solution Oyj
STOCK EXCHANGE RELEASE
19 February 2009, at 9.00 a.m. (EET)
ALDATA SOLUTION OYJ'S FINANCIAL STATEMENT RELEASE JANUARY-DECEMBER
2008 (UNAUDITED)
Aldata in 2008 (compared 2007)
* Net sales were EUR 70.0 million (EUR 74.7 million).
* Gross profit was EUR 63.4 million (EUR 62.3 million).
* Operating profit, EBIT, increased to EUR 3.7 million (-11.1
million).
* Profit before taxes was EUR 2.8 million (EUR -11.7 million).
* Net profit was EUR 2.1 million (EUR -11.7 million) and earnings
per share, EPS, were
* 0.031 euros (-0.171 euros).
* Cash flow from operating activities in 2008 was EUR 5.7 million
(EUR -0.4 million).
* Cash, cash equivalents and marketable securities amounted to EUR
15.4 million (EUR 9.1 million) and the Group had interest-bearing
debt EUR 15.0 million (EUR 5.0 million).
Aldata in Q4 2008 (compared to Q4 2007)
* Net sales were EUR 17.2 million (EUR 20.6 million).
* Gross profit was EUR 16.5 million (EUR 17.8 million).
* Operating profit, EBIT, was EUR 1.3 million (EUR -5.8 million).
* Profit before taxes was EUR 0.4 million (EUR -6.1 million).
* Net profit was EUR 0.1 million (EUR -6.0 million) and earnings
per share, EPS, were 0.001 euros (-0,088 euros).
Message from Bertrand Sciard, President and CEO
Aldata delivered on its promise in 2008. In a year of great economic
change we produced four consecutive profitable quarters, a full year
profitable result, and retained a healthy balance sheet and cash
position.
The general economic downturn overshadowed all other factors during
the last quarter of the year and is now impacting all markets,
companies and individuals. Our main focus on the food and grocery
retail sector is a great strength. Aldata customers and future
customers are widely acknowledged to be suffering less than non-food
retail and other business sectors. They do need to become more
efficient in their operations, reduce costs, and retain customers;
Aldata can help them in all of these areas.
The global balance of our business improved during 2008 with
substantial new customer wins in North America, including Price
Chopper and Nash Finch, and the acquisition of the Apollo business.
Apollo doubles the size of our customer base and also brings a new
category of customers to Aldata, companies who supply retailers.
These include the world's largest consumer brands that need retail
process expertise to sell their products.
In Europe our new business spread widened with companies in emerging
retail markets featuring alongside our established territories and
core supermarket customers. The Middle East and Balkans were of
particular note. Our strength in goods tracking, or traceability, led
to more success in the healthcare products and drugs sectors with
organizations such as Medicins Sans Frontieres, Syngenta, Nelt and
hospital groups.
In the Nordic region we continue to innovate and explore new retail
opportunities. The acquisition of Terraventum, a Finnish Loyalty
specialist, extends our reach into retail marketing functions for
existing customers. It also provides a new entry point into the
leisure and hospitality retail sectors. We also grew our specialist
solutions business for high-service retailers with new business wins
in opticians and telecoms chains.
Our investment in off-shoring sections of our development processes
in India continued during 2008. This will provide us with fully
trained resources for quality control enhancement during our 2009
development cycle. The Apollo business already uses Indian resources
for development functions and our combined teams will ensure
efficient integration of the two product sets during 2009.
In 2009 our sales, marketing, and services teams will focus on
opportunities where we can bring faster benefits to our customers, so
that they can justify investments in a slower economy. We will bring
new products to market with rapid implementation times and use our
strategic relationships with IBM and Oracle to bring more customers
to our business.
Aldata in the fourth quarter of 2008
October - December 2008 Financial performance
The Group's net sales were EUR 17.2 million (EUR 20.6 million), which
represents a decline of EUR 3.4 million compared to the previous
year. Product sales, which include licenses for standard products,
licenses for customer specific developments and maintenance revenues,
accounted for 54% (44%) of total net sales. Consulting services
accounted for 40% (46%) and third party licenses and hardware
accounted for 6% (10%).
The Group's gross profit was EUR 16.5 million (EUR 17.8 million),
which represents a 96% (86%) gross margin. Operating profit, EBIT,
totaled EUR 1.3 million (EUR -5.8 million) and operating profit
excluding expenses for option plans was EUR 1.4 million (EUR -5.7
million).
Pre-tax profit was EUR 0.4 million (EUR -6.1 million), net profit was
EUR 0.1 million (EUR -6.0 million) and earnings per share, EPS, were
0.001 euros (-0.088 euros).
Research and development costs in the fourth quarter totaled EUR 1.9
million (EUR 7.6 million), of which EUR 0.5 million (EUR 0.6
million), or 26.4% (7.9%), were capitalized. EUR 0.1 million (EUR 0.1
million) of capitalized development costs were amortized.
Business units in fourth quarter of 2008
Net sales of the Supply Chain Management (SCM) Software business unit
were EUR 13.7 million (EUR 15.6 million). The gross profit was EUR
13.4 million (EUR 14.3 million) and the operating profit, EBIT, was
EUR 0.4 million (EUR -3.9 million).
Net sales of the In-Store Software business unit were EUR 3.5 million
(EUR 5.1 million). The gross profit was EUR 3.1 million (EUR 3.7
million) and the operating profit, EBIT, was EUR 0.7 million (EUR
-0.3 million).
There were no internal sales between the Group's business segments.
Unallocated costs, the Group's shared items netted, increased the
Group's operating profit, EBIT, by EUR 0.2 million (decrease EUR 1.6
million).
Finance and investments
Cash flow from operating activities in the fourth quarter was EUR 1.3
million (EUR 0.5 million) and net cash flow was EUR 6.6 million (EUR
1.4 million).
The Group's capital expenditure on hardware and software purchases
amounted to EUR 7.4 million (EUR 0.6 million) in fourth quarter of
the year.
Research and Development
In the fourth quarter Aldata's research and development costs were
EUR 1.9 million (EUR 7.6 million) and made up 11% (37%) of net sales.
A total of EUR 0.5 million (EUR 0.6 million) of development costs
were capitalized during the quarter. EUR 0.1 million (EUR 0.1
million) of capitalized development costs were amortized in the
quarter.
Aldata in 2008
Financial performance
The Group's net sales were EUR 70.0 million (EUR 74.7 million), which
represents a decline of EUR 4.7 million compared to the previous
year. Product sales, which include licenses for standard products,
licenses for customer specific developments and maintenance revenues,
accounted for 49% (42%) of total net sales. Consulting services
accounted for 44% (46%) and third party licenses and hardware
accounted for 7% (12%).
The Group's gross profit was EUR 63.4 million (EUR 62.3 million),
which represents a 91% (83%) gross margin. Operating profit, EBIT,
totaled EUR 3.7 million (EUR -11.1 million) and operating profit
excluding expenses for option plans was EUR 4.3 million (EUR -10.7
million).
Pre-tax profit was EUR 2.8 million (EUR -11.7 million), net profit
was EUR 2.1 million (EUR -11.7 million) and earnings per share, EPS,
were 0.031 euros (-0.171 euros).
Research and development costs totaled EUR 7.7 million (EUR 15.5
million), of which EUR 1.4 million (EUR 1.2 million), or 17.6%
(7.7%), were capitalized. EUR 0.5 million (EUR 0.4 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 December 2008, the order
backlog was EUR 23.7 million (EUR 18.5 million at the end of December
2007 and EUR 19.8 million at the end of September 2008). The December
2008 figure includes EUR 3.6 million backlog from the acquired Apollo
business.
Taxes for the period were EUR 0.6 million (EUR 0.0 million).
Business units
Net sales of the Supply Chain Management (SCM) Software business unit
were EUR 56.2 million (EUR 58.2 million). The gross profit was EUR
51.9 million (EUR 50.8 million) and the operating profit, EBIT, was
EUR 1.5 million (EUR -8.1 million).
Net sales of the In-Store Software business unit were EUR 13.8
million (EUR 16.6 million). The gross profit was EUR 11.6 million
(EUR 11.7 million) and the operating profit, EBIT, was EUR
4.1 million (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 1.9 million (EUR 2.8 million).
Finance
Cash flow from operating activities in 2008 was EUR 5.7 million (EUR
-0.4 million) and net cash flow was EUR 6.3 million (EUR 3.5
million).
At the end of December 2008, Aldata Group's cash, cash equivalents
and marketable securities amounted to EUR 15.4 million (EUR 9.1
million) and total assets were EUR 64.8 million (EUR 51.3 million).
The Group had interest-bearing debt EUR 15.0 million (EUR 5.0
million) and interest-bearing net liabilities totaled EUR 0.4 million
(EUR -3.3 million). Short term receivables totaled EUR 25.6 million
(EUR 26.7 million). The Group's solvency ratio was 36.3% (38.6%),
gearing was 1.9% (-16.6%), and shareholders' equity per share was EUR
0.332 (EUR 0.286).
In 2008 the Group's capital expenditure on hardware and software
purchases amounted to EUR 9.1 million (EUR 2.5 million).
Research and Development
In 2008 Aldata's research and development costs were EUR 7.7 million
(EUR 15.5 million) and made up 11% (21%) of net sales. A total of EUR
1.4 million (EUR 1.2 million) of development costs were capitalized
during the year. EUR 0.5 million (EUR 0.4 million) of capitalized
development costs were amortized in 2008.
At the end of December 2008 150 (166) employees were involved in R&D
activities. This represents 26% (28%) of the Group's total personnel.
Aldata's R&D centers are located in Paris, France and in Vantaa,
Finland.
Personnel
Aldata Group employed 570 (586) persons at the end of December 2008,
and on average had 540 (625) employees during the period. The
figures include 38 employees who joined Aldata in the Apollo
business acquisition in December 2008.
31 December 2008 31 December 2007
By business unit Persons % Persons %
SCM Software 473 82 485 83
In-Store Software 82 14 91 15
Group Administration 15 3 10 2
Total 570 100 586 100
Approximately 51% of personnel were employed by Aldata companies in
France, 13% in Finland, 11% in the US, 10% in Germany, 5% in Sweden,
4% in Slovenia, 4% in the UK and 2% in Russia.
Share performance and ownership
The highest price of the Aldata Solution Oyj share during January -
December 2008 was EUR 1.25 and the lowest price EUR 0.34. The average
price was EUR 0.86 and the closing price EUR 0.35. The trading volume
on the Helsinki Stock Exchange was EUR 32.8 million and altogether
38.0 million shares were traded, which represents 55% of the shares.
Aldata Solution Oyj has 68.7 million shares outstanding. The number
of shares outstanding has increased by 154.600 shares which have been
subscribed with Aldata Solution Oyj's option rights in May 2008.
The number of shareholders was 4347 and the free float was 100.0% of
the share capital at the end of December 2008. A total of 37.9% of
Aldata Solution Oyj's shares were owned by foreign investors at the
end of the period.
Aldata Solution Oyj has one share series. All the company's shares
carry equal voting and dividend rights.
Risks and uncertainty factors
Risks and uncertainty factors associated with Aldata's business are
mainly related to general economic development and more specifically
on the retail software market and competitive situation. The global
economy has been hit by a sudden slowdown and this has affected and
will affect Aldata's operations. Aldata has acted to the new economic
environment in order to limit the risks associated with a further
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.
Business risk management is a key target of the operational
management. Through it, the company aims to ensure that the key risks
to which business operations are exposed are identified and monitored
for preventative action. Business risks are monitored within the
company by the President and CEO, the Management Team and the
business unit managers.
The Board of Directors and CEO
The Annual General Meeting on April 1, 2008 elected the following
members to the Board of Directors: Mr William Chisholm, Mr Bertrand
Sciard, Mr Aarne Aktan, Mr Tommy Karlsson and Mr Thomas Peterson. Mr
William Chisholm was elected as the Chairman of the Board and Mr
Bertrand Sciard as the Vice Chairman of the Board.
Management Team and Management Council
The members of Aldata's Corporate Management Team (CMT) at the end of
year 2008 were Bertrand Sciard, President and CEO; Patrik Buellet,
CTO; Dominique Chambas, Senior Vice President, International Sales;
Allan Davies, CMO; and Thomas Hoyer, CFO. The members of the CMT
report to the CEO.
The members of Management Council (MC) were the CMT members but
including also Albert Cherbit, Vice President, Consulting; Mark
Croxton, Vice President, UK and Ireland; Ivan Guzelj, Vice President,
southern Central Europe; Harald Göbel, Vice President, German
speaking countries; Henrik Lindström, Vice President, Sweden, Norway
and Denmark; Brendan Lowe, Vice President, USA and Canada; Thierry
Seguin, Vice President, France and Jorma Tukia, Vice President,
Finland, the Baltic Countries and Russia.
On January 16th 2009 Aldata announced changes to its Corporate
Management Team (CMT) and Management Council (MC). The new Aldata CMT
consists of three members only; Bertrand Sciard, President and CEO,
Thomas Hoyer, Chief Financial Officer, and Allan Davies, Chief
Marketing Officer. Graham Howell will assist the CMT in his role as
Group Financial Controller. The Aldata MC consists of the heads of
Aldata's major business units: Dominique Chambas, G.O.L.D. General
Business, Patrick Buellet, Corporate Accounts, Jorma Tukia, Instore &
Loyalty, Henrik Lindstrom, Megadisc, and Shaun Bossons, Apollo.
Auditors
Ernst & Young Oy acted Aldata group's auditor, under the supervision
of principal auditor Tomi Englund (APA).
Group structure, changes and business transactions during the period
Aldata Solution Oyj is Aldata Group's parent company. Following
business transactions affecting the group structure took place in
2008:
On September 24th, 2008, Aldata acquired all the shares of
Terraventum Oy, a Finnish software company specializing in digital
marketing solutions for the retail and hospitality markets. Aldata
and Terraventum were already established business partners in Finland
with several existing joint customers. In such customer engagements
Aldata supplies its Aldata Loyalty solution to provide customer data
analysis, management of loyal customer systems and marketing
campaigns. Terraventum's Contentum product compliments the Aldata
Loyalty with communication solutions enabled by its digital marketing
platform. The new combined Aldata Loyalty solution will be mainly
provided as a SaaS (Software as a Service) application based on
Microsoft platforms and latest Web based services.
On December 15th, 2008, Aldata acquired the Apollo Retail space
planning business from IRI. In the deal Aldata acquired all of the
assets of IRI's Apollo Retail Space and Assortment Planning business
unit. Apollo Space Planning software is used by over 300 retail and
CPG companies with over 8000 individual users worldwide and contains
over 20 years of accumulated retail planning and optimization domain
knowledge.
Aldata acquired the assets and property used in or relating to the
Apollo business. This covered the product IPR, employees, contracts,
orders and tenders outstanding together with all fixtures and
fittings and related office and computer equipment being used by the
Apollo business. Trade debtors and prepayments at the date of closure
are not being transferred to Aldata. Accounts receivable will be
collected by IRI and payments from collected receivables will be made
to Aldata in order to cover for all financial liabilities, like some
employee related liabilities, that are transferred to Aldata in the
deal. The seller has guaranteed to cover all such financial
liabilities. The acquired unit had in total 38 employees, of which 26
were based in the US and 12 were in Europe. The Apollo business
generated in 2008 approximately USD 10.6 million in net sales and
EBITDA of USD 2.3 million.
The total purchase price for the Apollo business and the assets was
USD 10.5 million (EUR 7.8 million calc. rate 1.346), which consists
of following items: USD 9.25 million (EUR 6.9 million) paid at
signing, USD 0.5 million (EUR 0.4 million) paid at signing into an
Escrow Account designated by the Parties until 30th April 2010 as
security for any claims that the Purchaser may have presented against
the Seller under the asset purchase agreement and a maximum of MUSD
0.75 (EUR 0.6 million) as additional purchase price based on the
units 2009 financial performance and which will be paid after 2009
financial audit has taken place.
The main owner of IRI, the seller, is Symphony Technology Group
(STG), which through direct and indirect holdings of shares controls
over 25% of the shares and votes in Aldata. Therefore only those
members of the Board of Directors, who during the negotiations or at
signing of the transaction did not have any engagements with the
seller or its main owner participated in the preparation and
decision-making in relation to the transaction. For the decision
making process, Aldata received a Fairness Opinion from Thomas Weisel
Partners Group, an independent investment bank.
At the end of 2008 the following Aldata Group's subsidiaries
operated:
* Aldata Apollo, Inc. (100%) in the US
* Aldata Retail Solutions GmbH (100%) in Germany
* Aldata Solution AB (100%) in Sweden
* Aldata Solution Co., Ltd. (100%) in Thailand
* Aldata Solution d.o.o. (81.2%) in Slovenia
* Aldata Solution Finland Oy (100%) in Finland
* Aldata Solution Inc. (100%) in the US
* Aldata Solution LLC (100%) in Russia
* Aldata Solution S.A.S. (100%) in France
* Aldata Solution UK Ltd. (100%) in the UK
Outlook
Aldata expects the 2009 operating environment to remain challenging.
The 2009 first-half results will be a challenging comparison to the
results reported in the first half of 2008, which was prior to the
economic crisis that disrupted the global markets in the third
quarter of 2008. The Company will continue with its cost saving
measures and will take further steps to reduce expenses. Aldata will
continue to maintain tight cost controls on all variable expenses;
including third-party related costs, as well as capital expenditures.
Due to the continued uncertainty surrounding the economic and
business environment, Aldata will not provide a specific outlook for
financial results for the full-year 2009. Based on the current
backlog, sales and services activity and pipeline, the Company
expects to generate in 2009 growth in net sales compared to 2008 and
a profitable operative result (EBIT) for the full-year.
The Board of Directors' dividend proposal
The Board of Directors has decided to propose to the Annual General
Meeting on 31st March 2009 that no dividend shall be distributed for
the financial year 2008.
Events after the review period
On January 16th, 2009 Aldata announced changes to its management
organization to better serve the demands of different customer
groups, increase market responsiveness to those demands, and optimize
its financial and administration efficiency.
On February 10th, 2009, Aldata informed that it has started taking
measures to adjust its operative functions and costs in order to meet
the structural changes in the global market situation caused by the
financial crisis. Aldata initiated statutory joint negotiations with
the French Works Council with the purpose of investigating different
options for restructuring the French subsidiary's operations to meet
the changes in market situation.
Helsinki, February 19, 2009
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 19 February, at 12.00 (EET) at Hotel Kämp
(Pohjoisesplanadi 29) in the Paavo Nurmi Cabinet.
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 onNASDAQ 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 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 report is unaudited.
CONSOLIDATED INCOME STATEMENT
MEUR MEUR Change
*) unaudited 2008 *) 2007 %
Net sales 70,0 74,7 -6,3 %
Other operating income 2,1 0,4 490,3 %
Material and services -8,7 -12,8 31,8 %
Personnel expenses -42,6 -46,5 8,5 %
Depreciations and impairments -1,4 -1,4 -4,1 %
Other operating expenses -15,7 -25,5 38,4 %
Operating profit 3,7 -11,1 133,6 %
Financial items -1,0 -0,6 -51,3 %
Profit before taxes 2,8 -11,7 123,6 %
Income taxes -0,6 0,0 -7377,1 %
Minority interest 0,0 0,0 -303,6 %
Profit for the year 2,1 -11,7 118,3 %
Attributable to:
Equity holders of the Company 2,1 -11,7
Minority interest 0,0 0,0
Earnings per share 0,031 -0,171
Earnings per share diluted 0,031 -0,170
CONSOLIDATED BALANCE SHEET MEUR MEUR
*) unaudited 31 Dec 31 Dec
2008 *) 2007
ASSETS
Non-current assets
Goodwill 15,0 9,4
Capitalized development cost 2,9 2,2
Intangible assets 1,8 0,3
Tangible assets 1,4 1,6
Investments 0,1 0,0
Other long-term assets 0,1 0,1
Deferred tax assets 1,9 0,9
Non-current assets total 23,3 14,6
Current assets
Inventories 0,2 0,3
Account receivable 15,3 15,4
Loan receivable 0,0 0,0
Prepayments and accrued income 8,8 10,5
Income tax receivables 0,2 0,6
Other short-term receivables 1,5 0,8
Cash and cash equivalents 15,4 9,1
Current assets total 41,5 36,7
Assets total 64,8 51,3
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity
Share capital 0,7 0,7
Share Premium Fund 19,2 19,0
Translation difference 0,7 0,4
Retained earnings 2,2 -0,4
Equity holders of the parent company 22,8 19,6
Minority interest 0,1 0,1
Shareholders' equity total 22,9 19,7
Non-current liabilities
Long-term loans 0,5 0,5
Deferred tax liability 0,2 0,1
Other provisions 2,8 3,6
Other long-term loans 0,2 0,0
Non-current liabilities total 3,7 4,2
Current liabilities
Short-term loans 15,4 5,4
Advances received 1,6 0,3
Account payable 3,3 3,5
Accrued expenses and prepayments 11,3 13,2
Other provisions 1,0 1,5
Other short-term loans 5,7 3,5
Current liabilities total 38,2 27,3
Liabilities total 41,8 31,6
Equity and liabilities total 64,8 51,3
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Share
Share premium Translation Retained
TEUR capital fund difference earnings Total
EQUITY 1.1.2007 681 18 291 -33 10 863 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 0 345 0 345
Result of the financial
year 0 0 0 2 145 2 145
Total 0 0 345 2 145 2 490
Exercise of options 1 158 0 0 159
Share based payments
recognised against
equity 0 0 0 525 525
1 158 0 525 684
EQUITY 31.12.2008 687 19 154 708 2 244 22 793
CONSOLIDATED CASH FLOW STATEMENT
MEUR MEUR
2008 2007
Cash flow from operating activities
Operating result 3,7 -11,1
Adjustment to operating result -0,1 6,8
Change in working capital 1,6 4,8
Interest received and other financial income 0,6 0,2
Interest paid and other financial expenses -0,6 -0,2
Taxes paid 0,5 -0,8
Net cash from operating activities 5,7 -0,4
Cash flow from investing activities
Group companies acquired -7,9 0,0
Investments in tangible and intangible assets -1,9 -1,8
Loans granted 0,0 0,0
Net cash used in investing activities -9,8 -1,8
Cash flow before financing activities -4,1 -2,2
Cash flow from financing activities
Long-term loans, repayments 0,0 -0,1
Short-term loans, received 13,9 5,0
Short term loans, repayments -3,7 0,0
Share issue 0,2 0,7
Net cash used in financing activities 10,4 5,7
Net cash flow, total 6,3 3,5
Change in cash and cash equivalents 6,3 3,5
Cash and cash equivalents 1 Jan. 9,1 5,7
Cash and cash equivalents 31 Dec. 15,4 9,1
COMMITMENTS AND CONTINGENCIES MEUR MEUR
2008 2007
Loans from financial institutions 15,0 5,0
Mortgages 5,4 5,4
Leasing liabilities 11,4 10,7
Guarantees on behalf of group company debt 0,1 1,1
IFRS IFRS IFRS IFRS FAS
KEY FIGURES,
MEUR 2008*) 2007 2006 2005 2004
SCOPE OF
OPERATIONS
Net sales, MEUR 70,0 74,7 88,8 76,0 66,1
Average number of
personnel 540 625 614 547 525
Gross capital
expenditure, MEUR 9,1 2,5 1,8 1,9 1,4
Gross capital
expenditure, % of
net sales 13,0 3,3 2,0 2,6 2,2
PROFITABILITY
Operating profit ,
MEUR 3,7 -11,1 5,5 5,2 -0,8
Operating profit,
% of net sales 5,3 -14,9 6,2 6,9 -1,2
Profit before
taxes and minority
interest, MEUR 2,8 -11,7 5,5 5,5 -1,0
Profit before
taxes and minority
interest, % of net
sales 3,9 -15,7 6,2 7,3 -1,4
Return on equity,
% (ROE) 10,2 -47,4 9,2 14,9 -16,7
Return on
investment, %
(ROI) 17,3 -37,8 21,0 23,5 -1,2
FINANCIAL STANDING
Quick ratio 1,1 1,3 1,7 1,7 1,6
Current ratio 1,1 1,3 1,7 1,7 1,7
Equity ratio, % 36,3 38,6 54,5 54,1 54,0
Interest-bearing
net debt, MEUR 0,4 -3,3 -5,1 -8,7 -6,0
Gearing, % 1,9 -16,6 -16,9 -34,4 -27,6
PER SHARE DATA 2008 2007 2006 2005 2004
Earnings per
share, EUR (EPS) 0,031 -0,171 0,037 0,050 -0,059
Earnings per
share, EUR (EPS),
adjusted for
dilution effect 0,031 -0,170 0,037 0,050 -0,059
Shareholders'
equity per share,
EUR 0,332 0,286 0,372 0,372 0,317
Dividend/share,
EUR 0,00 0,00 0,00 0,00 0,00
Dividend/earnings,
% 0,0 0,0 0,0 0,0 0,0
Effective dividend
yield, % 0,0 0,0 0,0 0,0 0,0
Price/earnings
ratio - - 48 37 -
Share performance
(EUR)
Share price on 31
Dec, EUR 0,35 1,22 1,77 1,85 1,11
Share
issue-adjusted
average share
price, EUR 0,86 1,56 1,99 1,56 1,49
Share
issue-adjusted
lowest share
price, EUR 0,34 1,13 1,53 1,07 1,00
Share
issue-adjusted
highest share
price, EUR 1,25 1,90 2,83 2,07 2,24
Market
capitalization,
MEUR 24 84 121 125 71
No. of shares
traded during the
financial period,
(during the period
of quotation in
1999) 38 018 049 50 289 310 28 577 161 44 229 797 51 724 278
% of the company's
average number of
shares 55 % 73 % 42 % 66 % 77 %
Number of shares 68 733 395 68 578 795 68 120 895 67 433 942 67 433 942
Share
issue-adjusted
number of shares
annual average 68 695 645 68 426 162 68 120 895 67 433 942 66 490 002
Share
issue-adjusted
number of shares
at the end of the
financial period 68 733 395 68 578 795 68 120 895 67 433 942 67 433 942
Share
issue-adjusted
number of shares
annual average,
adjusted for
dilution effect 68 695 645 68 808 497 68 120 895 67 433 942 66 857 022
Share
issue-adjusted
number of shares
at the end of the
financial period,
adjusted for
dilution effect 68 733 395 68 961 130 68 120 895 67 433 942 67 436 122
SEGMENT INFORMATION
2008 Supply Chain In-Store Elimina-tions Total
Net Sales to External
Customers 56,2 13,8 0,0 70,0
Segment operating profit 1,5 4,1 0,0 5,6
Unallocated items -1,9
Operating profit 3,7
Financial income and
expenses -1,0
Profit before taxes and
minority interest 2,7
Taxes -0,6
Minority interest 0,0
Profit for the Financial
Period 2,1
Segment assets 40,5 7,1 0,0 47,6
Unallocated assets 17,2
Total 64,8
Segment liabilities 22,3 3,6 0,0 25,9
Unallocated liabilities 16,0
Total 41,9
Capital expenditures 8,1 0,9 0,0 9,0
Unallocated capital
expenditures 0,0
Total 9,1
Depreciations 0,9 0,5 0,0 1,4
Unallocated depreciations 0,0
Total 1,4
2007 Supply Chain In-Store Elimina-tions Total
Net Sales to External
Customers 58,1 16,6 0,0 74,7
Segment operating profit -8,2 -0,2 0,0 -8,4
Unallocated items -2,7
Operating profit -11,1
Financial income and
expenses -0,6
Profit before taxes and
minority interest -11,7
Taxes 0,0
Minority interest 0,0
Profit for the Financial
Period -11,7
Segment assets 35,2 5,5 0,0 40,7
Unallocated assets 10,6
Total 51,3
Segment liabilities 17,8 5,7 0,0 23,5
Unallocated liabilities 8,1
Total 31,6
Capital expenditures 1,2 1,3 0,0 2,5
Unallocated capital
expenditures 0
Total 2,5
Depreciations 0,9 0,4 0,0 1,3
Unallocated depreciations 0
Total 1,3
INCOME STATEMENT MEUR MEUR MEUR MEUR MEUR
quarterly figures Q4/2008 Q3/2008 Q2/2008 Q1/2008 Q4/2007
Net sales 17,2 15,7 18,0 19,1 20,6
Other operating income 1,6 0,2 0,1 0,3 0,0
Operating expenses -17,1 -15,4 -16,6 -17,9 -26,0
Depreciations and
impairments -0,4 -0,4 -0,4 -0,3 -0,4
Operating profit 1,3 0,1 1,2 1,1 -5,8
Financial items -0,9 0,4 0,0 -0,6 -0,3
Profit before taxes 0,4 0,6 1,2 0,6 -6,1
Income taxes -0,3 -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 0,1 0,5 1,1 0,5 -6,0
INCOME STATEMENT MEUR MEUR MEUR MEUR MEUR
cumulative 1-12/08 1-9/08 1-6/08 1-3/08 1-12/07
Net sales 70,0 52,8 37,1 19,1 74,7
Other operating income 2,1 0,6 0,4 0,3 0,4
Operating expenses -67,0 -49,9 -34,5 -17,9 -84,8
Depreciations and
impairments -1,4 -1,1 -0,7 -0,3 -1,4
Operating profit 3,7 2,5 2,3 1,1 -11,1
Financial items -1,0 -0,1 -0,6 -0,6 -0,6
Profit before taxes 2,8 2,4 1,8 0,6 -11,7
Income taxes -0,6 -0,2 -0,2 -0,1 0,0
Minority interest 0,0 0,0 0,0 0,0 0,0
Profit for the financial
period 2,1 2,1 1,6 0,5 -11,7
BALANCE SHEET MEUR MEUR MEUR MEUR MEUR
31.12.08 30.9.08 30.6.08 31.3.08 31.12.07
ASSETS
NON-CURRENT ASSETS
Goodwill 15,0 9,4 9,4 9,4 9,4
Capitalized development
cost 2,9 2,6 2,4 2,3 2,2
Intangible assets 1,8 0,7 0,3 0,3 0,3
Tangible assets 1,4 1,3 1,4 1,5 1,6
Investments 0,1 0,1 0,1 0,1 0,0
Other long-term assets 0,1 0,1 0,1 0,1 0,1
Deferred tax assets 1,9 0,9 0,9 1,0 0,9
NON-CURRENT ASSETS TOTAL 23,3 15,2 14,7 14,8 14,6
CURRENT ASSETS
Inventories 0,2 0,3 0,3 0,3 0,3
Short-term receivables 25,6 26,4 27,1 32,4 26,7
Cash and cash equivalents 15,4 8,8 13,6 8,6 9,1
CURRENT ASSETS TOTAL 41,5 35,5 41,0 41,3 36,7
ASSETS TOTAL 64,8 50,7 55,8 56,1 51,3
SHAREHOLDERS' EQUITY AND
LIABILITIES
Shareholders' equity 22,8 22,3 21,9 20,6 19,6
Minority interest 0,1 0,1 0,1 0,1 0,1
Non-current liabilities 1,9 2,0 3,6 4,2 4,2
Current liabilities 39,9 26,3 30,2 31,2 27,3
Liabilities 41,8 28,3 33,7 35,4 31,6
EQUITY AND LIABILITIES
TOTAL 64,8 50,7 55,8 56,1 51,3
KEY FIGURES, MEUR Q4/2008 Q3/2008 Q2/2008 Q1/2008 Q4/2007
quarterly figures
Scope of Operations
Net sales, MEUR 17,2 15,7 18,0 19,1 20,6
Average number of personnel,
cumulative 540 539 543 546 625
Profitability
Operating profit , MEUR 1,3 0,1 1,2 1,1 -5,8
Operating profit, % of net
sales 7,3 0,9 6,6 6,0 -28,2
Profit before taxes and
minority interest, MEUR 0,4 0,6 1,2 0,6 -6,1
Profit before taxes and
minority interest, % of net
sales 2,4 3,7 6,6 3,1 -29,7
Return on equity, % (ROE) 10,2 13,4 15,3 9,2 -47,4
Return on investment, %
(ROI) 17,3 18,7 21,4 19,4 -37,8
Financial Standing
Quick ratio 1,1 1,3 1,3 1,3 1,3
Current ratio 1,1 1,4 1,4 1,3 1,3
Equity ratio, % 36,3 45,1 40,3 37,6 38,6
Interest-bearing net debt,
MEUR 0,4 -6,7 -9,3 -4,2 -3,3
Gearing, % 1,9 -29,8 -42,4 -20,4 -16,6
Per Share Data
Earnings per share, EUR
(EPS) 0,001 0,007 0,016 0,007 -0,088
Earnings per share, EUR
(EPS), adjusted for dilution
effect 0,001 0,007 0,016 0,007 -0,088
Shareholders' equity per
share, EUR 0,332 0,324 0,319 0,300 -0,286
ALDATA SOLUTION OYJ'S FINANCIAL STATEMENT RELEASE JANUARY-DECEMBER 2008 (UNAUDITED)
| Source: Aldata Solution Oyj
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