Aldata Solution Oyj
STOCK EXCHANGE RELEASE
11 August 2010, at 9.00 a.m. (EET)
ALDATA SOLUTION OYJ'S INTERIM REPORT JANUARY-JUNE 2010 (UNAUDITED)
Aldata delivers another quarter showing year on year revenue growth and
profitable operating results
* Software licenses grew year on year for the third quarter in a row
* Total revenue grew year on year for the fourth quarter in a row generating a
profitable operating result (EBIT), and a positive operating cash flow with
all products and regions performing as expected and contributing to the
solid Q2 results
* No change to full year outlook of slight revenue growth compared to 2009
levels and operationally profitable (EBIT), for the full year
Aldata in Q2 2010 (compared to Q2 2009)
* Net sales increased by 15.5% to EUR 18.6 million (EUR 16.1 million).
* Gross profit increased by 17.6% to EUR 17.5 million (EUR 14.9 million).
* Operating profit, EBIT, increased to EUR 0.3 million (EUR -6.7 million).
* Profit before taxes was EUR 1.1 million (EUR -7.1 million).
* Net profit was EUR 1.0 million (EUR -7.2 million) and earnings per share,
EPS, were 0.014 EUR (-0.104 EUR).
* Cash flow from operating activities was EUR 0.3 million (EUR -2.8 million).
* Cash, cash equivalents and marketable securities amounted to EUR 4.9 million
(EUR 11.9 million) and the Group had interest-bearing debt EUR 10.6 million
(EUR 15.2 million).
Aldata in January - June 2010 (compared to January - June 2009)
* Net sales were EUR 36.9 million (EUR 33.0 million).
* Gross profit was EUR 33.0 million (EUR 30.3 million).
* Operating profit, EBIT, was EUR 1.0 million (EUR -6.9 million) and profit
before taxes was EUR 1.9 million (EUR -7.1 million).
* Net profit was EUR 1.4 million (EUR -7.4 million) and earnings per share,
EPS, were 0.020 EUR (-0.107 EUR).
Bertrand Sciard, President and CEO
In Q2 2010 Aldata continued the positive growth directions set in Q1 with year
on year increases in sales revenues, profits and pipeline development. However,
despite the positive developments that we have seen in our Q2 performance verses
last year, we continue to find that there are only a small number of significant
retail opportunities currently in the market. These have a long and complex
decision making process and the competition for these is obviously fierce. The
effort needed to close these deals is considerable and our ability to accurately
predict when they close is low.
Our targeted investments in marketing and sales produced both repeat and new
name business opportunities in the quarter and we completed on planned M&A and
Alliance activities in line with our Build, Buy, Partner, business development
strategy. The acquisition of Cosmic Solutions Ltd, a UK specialist in retail
product assortment, was finalized in May and a new strategic alliance with
Microsoft Corporation was agreed to expand our channels in the mid-size retail
sector.
As announced in June Aldata and Microsoft are combining forces to bring advanced
retailing capabilities to companies choosing Microsoft Dynamics® AX as their
preferred mid-size ERP solution. This channel expansion agreement opens many new
doors for Aldata by bringing expanded opportunities to market our products via
the Microsoft global reseller network. In Finland, our first market for this
product line, the new combined Microsoft Dynamics AX and Aldata Retail solution
with our Loyalty services has received a warm welcome from both existing Instore
customers and new business prospects.
The Cosmic acquisition enables Aldata to better service the growing integrated
Category and Merchandising optimization needs of large retail and CPG companies.
Cosmic already has major CPG brand customers in the UK and is a natural partner
for our Apollo space optimization products globally. We are now marketing the
solutions via the Apollo direct sales team and our distributors worldwide.
Immediate successes include RNDC, America's second largest wines and spirits
distributor, and Panzani the leading European pasta and pasta sauce producer.
New business deal success was spread across all divisions and regions and
included Australia's leading fruit beverage producer, global automotive parts
companies in both France and Germany, the UK arm of the world's largest toy
retailer and the US retail division of the world's largest software company.
Other new retail customers were signed in the USA, Finland, Switzerland, and
Italy where our new distributor, Tesi, completed two new contracts, and five new
companies chose Aldata voice directed warehousing solutions to enhance their
logistics productivity. Aldata Loyalty continued to gain market momentum with
more new projects in Finland, and expansion into Norway, Denmark, Estonia, and
Russia.
It was noteworthy that demand for our Professional Services teams increased in
Q2 as both existing and new customers invested in new projects to increase their
operational efficiency.
Aldata in the second quarter of 2010
April - June 2010 Financial performance
The Group's net sales were EUR 18.6 million (EUR 16.1 million), which represents
an increase of EUR 2.5 million compared to second 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 58% (57%) of total net sales. Consulting services accounted for 39% (39%),
and third party licences and hardware accounted for 3% (4%).
The Group's gross profit was EUR 17.5 million (EUR 14.9 million), which
represents an 94% (92%) gross margin. Operating profit, EBIT, totaled EUR 0.3
million (EUR -6.7 million) and operating profit excluding expenses for option
plans was EUR 0.3 million (EUR -0.6 million).
Pre-tax profit was EUR 1.1 million (EUR -7.1 million), net profit was EUR 1.0
million (EUR -7.2 million) and earnings per share, EPS, were 0.014 EUR (-0.104
EUR).
Research and development costs in the second quarter totaled EUR 2.0 million
(EUR 2.2 million), of which EUR 0.1 million (EUR 0.1 million) or 3.6% 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 June 2010, the order backlog was EUR 26.1 million (EUR 22.5 million at
the end of June 2009 and EUR 21.6 million at the end of year 2009).
Business units in Q2 2010
Net sales of the Supply Chain Management (SCM) Software business unit were EUR
12.4 million (EUR 11.5 million). The gross profit was EUR 12.0 million (EUR
11.0 million) and the operating profit, EBIT, was EUR -0.3 million (EUR -4.0
million).
Net sales of the In-Store Software business unit were EUR 6.2 million (EUR 4.6
million). The gross profit was EUR 5.5 million (EUR 3.9 million) and the
operating profit, EBIT, was EUR 0.6 (EUR 0.9) 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 0.0 million (EUR -3.6 million).
Finance and investments
Cash flow from operating activities in the second quarter was EUR 0.3 million
(EUR -2.8 million) and net cash flow was EUR -1.4 million (EUR -3.0 million).
The Group's capital expenditure on hardware and software purchases amounted to
EUR 2.9 million (EUR 0.3 million) in second quarter of the year.
Research and Development
In the second quarter Aldata's research and development costs were EUR 2.0
million (EUR 2.2 million). A total of EUR 0.1 million (EUR 0.1 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 the first half of 2010
January-June 2010 financial performance
The Group's net sales were EUR 36.9 million (EUR 33.0 million), which represents
an increase of EUR 4.0 million compared to first two 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 58% (60%) of total net sales. Consulting services accounted for 36% (37%)
and third party licences and hardware accounted for 6% (3%).
The Group's gross profit was EUR 33.0 million (EUR 30.3 million), which
represents a 90% (92%) gross margin. Operating profit, EBIT, totaled EUR 1.0
million (EUR -6.9 million) and operating profit excluding expenses for option
plans was EUR 1.1 million (EUR -6.7 million).
Pre-tax profit was EUR 1.9 million (EUR -7.1 million), net profit was EUR 1.4
million (EUR -7.4 million) and earnings per share, EPS, were 0.020 EUR (-0.107
EUR).
Research and development costs in the financial period totaled EUR 4.1 million
(EUR 5.0 million), of which EUR 0.1 million (EUR 0.3 million) or 3.6% were
capitalized. EUR 0.2 million (EUR 0.2 million) of capitalized development costs
were amortized.
Taxes for the period were EUR 0.6 million (EUR 0.3 million).
Business Units in H1 2010
Net sales of the Supply Chain Management (SCM) Software business unit were EUR
25.8 million (EUR 23.8 million). The gross profit was EUR 23.6 million (EUR
22.4 million) and the operating profit, EBIT, was EUR 0.5 million (EUR -3.1
million).
Net sales of the In-Store Software business unit were EUR 11.2 million (EUR 9.2
million). The gross profit was EUR 9.4 million (EUR 7.9 million) and the
operating profit, EBIT, was EUR 1.4 (EUR 2.0) 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 1.0 million (EUR -5.8 million).
Finance and investments
Cash flow from operating activities in the first half of the year was EUR 1.4
million (EUR -3.0 million) and net cash flow was EUR -0.6 million (EUR -3.6
million).
At the end of June 2010, Aldata Group's cash, cash equivalents and marketable
securities amounted to EUR 4.9 million (EUR 11.9 million) and total assets were
EUR 55.7 million (EUR 60.9 million). The Group had interest-bearing debt EUR
10.6 million (EUR 15.2 million) and interest-bearing net liabilities totaled EUR
5.5 million (EUR 3.6 million). Short term receivables totaled EUR 24.2 million
(EUR 25.2 million). The Group's solvency ratio was 36.3 % (25.3%) gearing was
27.0 % (23.7%), and shareholders' equity per share was 0.292 EUR (EUR 0.222).
The Group's capital expenditure on hardware and software purchases amounted to
EUR 3.1 million (EUR 0.5 million) during the first half of the year. A total of
EUR 0.2 million (EUR 0.2 million) of development costs were capitalized during
the period.
Research and Development
Aldata's research and development costs in H1 2010 were EUR 4.1 million (EUR
5.0 million) and made up 11% (15%) of net sales. A total of EUR 0.1 million (EUR
0.3 million) of development costs were capitalized during the period. EUR 0.2
million (EUR 0.2 million) of capitalized development costs were amortized.
At the end of the review period 131 (139) employees and 129 (57) contracted
offshore resources were involved in R&D activities. These employees represent
25% (26%) of the Group's total personnel. Aldata's R&D centers are located in
Paris, France, in Vantaa, Finland and in Bangalore, India.
Personnel
Aldata Group employed 536 (531) persons at the end of June 2010, and on average
had 522 (554) employees during the period.
30 June 2010 30 June 2009
By business unit Persons % Persons %
SCM Software 365 68 398 75
In-Store Software 155 29 121 23
Group Administration 16 3 12 2
Total 536 100 531 100
Approximately 46% of personnel were employed by Aldata companies in France, 14%
in Finland, 12% in the US, 10% in Germany, 7% in the UK, 6% in Sweden, 4% in
Slovenia and 1% in Russia.
Share performance and ownership
The highest price of the Aldata Solution Oyj share during January - June 2010
was EUR 0.77 and the lowest price EUR 0.45. The average price was EUR 0.62 and
the closing price EUR 0.55. The trading volume on the Helsinki Stock Exchange
was EUR 12.4 million and altogether 20.1 million shares were traded, which
represents 29% of the shares. Aldata Solution Oyj has 68.7 million shares
outstanding. The number of shares outstanding has remained unchanged during the
period.
The number of shareholders was 5107 and the free float was 100% of the share
capital at the end of June 2010. A total of 32.1% of Aldata Solution Oyj's
shares were owned by foreign investors at the end of the period.
Aldata Solution Oyj has one share series and all the company's shares carry
equal voting and dividend rights.
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 Q2 2010:
On 6th May 2010 Aldata Solution Oyj signed a definitive agreement for Aldata to
acquire all of the shares of Cosmic Solutions Limited, a specialist UK provider
of category management software, helping retailers better respond to changes in
customer demand, reduce waste, and increase shopper satisfaction.
The acquisition represents the second step in Aldata's Integrated Category
Management strategy following the acquisition of Apollo Space Management in
2008 and when combined with Aldata's best of breed Retail Space, Replenishment
and Supply Chain suites it will provide customers and prospects with unique
capabilities to plan and deliver accurately across multiple store sizes, and
formats.
Cosmic has in total 25 employees, of whom 21 are based in the UK, 3 are based in
France and 1 is based in US. In addition there are currently 4 subcontractors
used for both sales and services work. As an independent company, Cosmic
Solutions was responsible for sales and marketing activities, implementation and
support services as well as product development.
Cosmic Solutions generated in the year ending 31st December 2009 GBP 1.9 million
in net sales and an EBIT of GBP 0.4 million, adjusted to reflect how it would be
reported within Aldata's results. Cosmic Solutions has been able to grow its
revenue in each of the last 5 years that were reviewed and has delivered a
profitable result for each of those years.
The total purchase price booked by Aldata for Cosmic Solutions Limited is GBP
3.4 million (EUR 4.0 million calc. rate 0.854), which consists of following
items: GBP 2.0 million (EUR 2.3 million) paid at signing and GBP 1.4 million
(EUR 1.7 million) as additional purchase price based on the forecasted
achievement against revenue targets by the Cosmic products over the next three
years.
This purchase price has been allocated between intangible assets and goodwill
based on the principles of IFRS 3 governing Business Combinations
Risks and uncertainty factors
Near term risks and uncertainties
Near term risks and uncertainties are considered by Aldata as those that may
materialize in the next two quarters.
Aldata accounts for its revenue in accordance with IFRS guidelines, meaning
license revenue is typically booked on contract signature whereas services and
maintenance revenue is booked over the life of the project. This means that
software license revenue is more risky and harder to forecast. The management
team complete regular reviews and assessments of the software pipeline to
mitigate this risk, although it is not possible to remove the risk completely.
The economic environment has increased the number of companies who face
financial problems and could be seen as a factor in the increased time taken to
settle invoices. This might increase Aldata's risk to be able to collect
payment for its services provided. Aldata looks to mitigate this risk by using
business standard credit assessment and credit control policies to ensure any
potential risks are highlighted at an early stage and any necessary action to
reduce the risk is taken.
A large proportion of Aldata's services revenue is done on a time and materials
basis. If there was a weakening in demand, as we saw at the start of 2009, this
would lead to lower utilization and pressure on margins if Aldata was unable to
adjust its cost base fast enough. However, Aldata foresees that the risks of
further large-scale deterioration of the IT market situation have declined from
2009.
In other respects, no significant changes have taken place in Aldata's
short-term risks and uncertainties during the reported period.
Long term risks and uncertainties
Long term risks and uncertainty factors associated with Aldata's business are
mainly related to general economic development and more specifically on the
retail software market. The recession affected Aldata's operations during the
last 18 months and whilst there are continuing signs of a recovery, if the
anticipated recovery doesn't happen or there is a worsening of the economic
situation, this may result in delays to both ongoing or new large projects and
investment decisions.
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 Corporate
Management Team and the Management Council.
With the increased importance of the US market to Aldata, the group will become
more exposed to currency risk as the movement between the Euro and the US dollar
has been quite significant during the last 12 months. Aldata chooses not to
hedge against these movements as it believes there is a natural hedge built into
the business due to the US based cost structure that it carries. This means,
that whilst the risk to Aldata's operating profit is reduced to a level that
Aldata feels is acceptable, there is a risk to the level of revenue that Aldata
reports that is directly affected by the Euro to US dollar exchange rate
movement.
Goodwill was tested during the last quarter of 2009 and in accordance with the
results of testing for impairment, no depreciation of goodwill was made. The
impairment testing is based on projected future cash flows and if the respective
country's projected cash flows do not occur as planned in the medium term, it is
possible that the goodwill allocated to one of the country's units will need to
be impaired. No new impairment tests have been completed at the end of Q2 2010
as most businesses and territories were either on or close to their projected
future cash flows.
Outlook
Aldata expects net sales for 2010 to grow slightly on 2009 levels and to
generate a profitable operative result (EBIT) for the full-year.
Events after the review period
There were no remarkable events after the review period.
Helsinki, August 11, 2010
Aldata Solution Oyj
Board of Directors
Further information:
Bertrand Sciard, President and CEO, tel. +358 10 820 8000 / Aldata Solution Oyj.
Graham Howell, CFO, tel. +33 633 057 620
Aldata will hold a press conference for the media and financial analysts in
Helsinki on 11 August, at 12.00 (EET) at Hotel Palace Gourmet (Eteläranta
10, 10th floor, Merikabinetti).
The presentation material will be published on the Group's website at
www.aldata-solution.com
About Aldata
Aldata is a global leader in the supply of integrated business solutions to
organizations that serve the retail consumer and wholesale distribution markets.
Aldata has an unparalleled 20-year track record of delivering targeted software
projects that substantially improve our customers' businesses, from supplier to
shopper. Today, Aldata customers include 15 of the World's 30 largest retailers,
thousands of retail brands, and hundreds of national and regional chains. Aldata
Solution is a public company quoted on NASDAQ OMX Helsinki Ltd with the
identifier ALD1V. More 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 2009 financial statements but the report does
not comply with all requirements of IAS 34, Interim Financial Reporting. Key
figure calculations remain unchanged and have been presented in 2009 Financial
Statements.
CONSOLIDATED INCOME STATEMENT MEUR MEUR Change % MEUR
Jan-Jun/ 2010 Jan-Jun/ 2009 Total 2009
Net sales 36,9 33,0 12,1 % 67,5
Other operating income 0,2 0,4 -30,7 % 0,7
Operating expenses -35,4 -39,5 10,3 % -71,3
Depreciations and impairments -0,8 -0,7 -12,2 % -1,7
Operating profit 1,0 -6,9 114,0 % -4,7
Financial items 1,0 -0,2 609,2 % -0,7
Profit before taxes 1,9 -7,1 127,3 % -5,4
Income taxes -0,6 -0,3 -97,8 % 1,4
Minority interest 0,0 0,0 -222,0 % 0,0
Profit for the financial period 1,4 -7,4 118,5 % -4,0
Earnings per share, EUR 0,020 -0,107 -0,057
Earnings per share, EUR (EPS),
adjusted for dilution effect 0,020 -0,107 -0,057
Attributable to:
Equity holders of the Company 1,4 -6,7 -4,0
Minority interest 0,0 0,0 0,0
Statement of comprehensive
income:
Net profit for the period 1,4 -6,7 -4,0
Other comprehensive income:
Translation differences -0,6 -0,3 0,0
Total comprehensive income 0,8 -7,0 -4,0
Total comprehensive income
attributable to:
Equity holders of the Company 0,8 -7,0 -4,0
Minority interest 0,0 0,0 0,0
CONSOLIDATED BALANCE SHEET MEUR MEUR MEUR
30 Jun 2010 30 Jun 2009 31 Dec 2009
ASSETS
NON-CURRENT ASSETS
Goodwill 18,9 15,0 16,2
Capitalized development cost 2,9 3,0 2,8
Intangible assets 2,6 1,7 1,4
Tangible assets 1,4 1,4 1,3
Investments 0,1 0,1 0,1
Other long-term assets 0,4 0,1 0,4
Deferred tax assets 0,3 2,5 1,0
NON-CURRENT ASSETS TOTAL 26,6 23,7 23,1
CURRENT ASSETS
Inventories 0,0 0,0 0,5
Short-term receivables 24,2 25,2 20,7
Cash and cash equivalents 4,9 11,9 5,6
CURRENT ASSETS TOTAL 29,1 37,3 29,2
ASSETS TOTAL 55,7 60,9 52,3
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity 20,1 15,3 19,2
Minority interest 0,1 0,1 0,1
Long-term loans 3,4 4,5 3,0
Short-term loans 32,1 41,0 30,0
EQUITY AND LIABILITIES TOTAL 55,7 60,9 52,3
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 1000 EUR
Equity
holders
Share Trans- of Own
Share premium lation Retained parent Minority equity
TEUR capital fund difference earnings company interest total
--------------------------------------------------------------------------------
EQUITY
1.1.2009 687 19 154 708 2 244 22 793 117 22 911
Share based
payments
recognised
against
equity 0 0 0 201 201 0 201
Comprehensive
income 0 0 -334 -6 669 -7 003 -15 -7018
--------------------------------------------------------------------------------
EQUITY
30.6.2009 687 19 154 374 -4 224 15 991 102 16 094
--------------------------------------------------------------------------------
EQUITY
1.1.2010 687 19 154 694 -1 320 19 215 89 19 305
Share based
payments
recognised
against
equity 0 0 0 101 101 0 101
Comprehensive
income 0 0 -599 1 360 761 19 780
--------------------------------------------------------------------------------
EQUITY
30.6.2010 687 19 154 95 141 20 077 108 20 186
CONSOLIDATED CASH FLOW STATEMENT
MEUR MEUR MEUR
Jan-Jun/ 2010 Jan-Jun/ 2009 Jan-Dec 2009
Cash flow from operating activities
Operating result 1,0 -6,9 -4,7
Adjustment to operating result 0,7 2,8 -0,3
Change in working capital -0,1 1,4 2,5
Interest received and other financial
income 0,3 0,1 0,3
Interest paid and other financial
expenses -0,3 -0,4 -1,3
Taxes paid -0,1 0,0 -0,1
Net cash from operating activities 1,4 -3,0 -3,7
Cash flow from investing activities
Group companies acquired -2,0 0,0 0,0
Investments in tangible and intangible
assets -0,5 -0,4 -1,0
Net cash used in investing activities -2,6 -0,4 -1,0
Cash flow before financing activities -1,1 -3,5 -4,6
Cash flow from financing activities
Short-term loans, received 0,5 0,0 0,0
Short-term loans, repayments 0,0 0,0 -5,1
Leasing liability, payments 0,0 -0,1 -0,2
Share issue 0,0 0,0 0,0
Net cash used in financing activities 0,5 -0,1 -5,3
Net cash flow, total -0,6 -3,6 -10,0
Change in cash and cash equivalents -0,6 -3,6 -10,0
Cash and cash equivalents in the
beginning of the period 5,6 15,4 15,4
Net foreign exchange difference 0,0 0,0 0,1
Cash and cash equivalents at the end of
the period 4,9 11,9 5,6
NOTES TO THE INTERIM REPORT
COMMITMENTS AND CONTINGENCIES MEUR MEUR MEUR
30 Jun 2010 30 Jun 2009 31 Dec 2009
Loans from financial institutions 10,6 15,2 10,0
Mortgages 5,4 5,4 5,4
Leasing liabilities 6,9 9,6 8,7
Guarantees on behalf of company debt 0,1 0,1 0,1
KEY FIGURES, MEUR Jan-Jun /2010 Jan-Jun /2009 Total 2009
Scope of Operations
Net sales, MEUR 36,9 33,0 67,5
Average number of personnel 522 554 538
Profitability
Operating profit , MEUR 1,0 -6,9 -4,7
Operating profit, % of net sales 2,6 -21,0 -7,0
Profit before taxes and minority
interest, MEUR 1,9 -7,1 -5,4
Profit before taxes and minority
interest, % of net sales 5,3 -21,5 -8,0
Return on equity, % (ROE) 14,0 -77,2 -18,8
Return on investment, % (ROI) 18,8 -34,1 -11,2
Financial Standing
Quick ratio 0,9 0,9 0,9
Current ratio 0,9 0,9 0,9
Equity ratio, % 36,3 25,3 37,4
Interest-bearing net debt, MEUR 5,5 3,6 4,9
Gearing, % 27,0 23,7 25,2
Per Share Data
Earnings per share, EUR (EPS) 0,020 -0,107 -0,057
Earnings per share, EUR (EPS), adjusted
for dilution effect 0,020 -0,107 -0,057
Shareholders' equity per share, EUR 0,292 0,222 0,280
SEGMENT INFORMATION, MEUR
BUSINESS SEGMENTS Jan-Jun/2010 Jan-Jun/2009 Total 2009
Net sales to external customers
Supply Chain Management Software 25,8 23,8 49,5
In-Store Software 11,2 9,2 18,0
Total 36,9 33,0 67,5
Operating result, continuing operations
Supply Chain Management Software 0,5 -3,1 -6,0
In-Store Software 1,4 2,0 2,1
Total 1,9 -1,1 -3,9
Unallocated items -1,0 -5,8 -0,8
Operating profit 1,0 -6,9 -4,7
Financial income and expenses 1,0 -0,2 -0,7
Result before taxes and minority interest 1,9 -7,1 -5,4
Taxes -0,6 -0,3 1,4
Minority interest 0,0 0,0 0,0
Result from continuing operations 1,4 -7,4 -4,0
Result for the financial period 1,4 -7,4 -4,0
INCOME STATEMENT MEUR MEUR MEUR MEUR MEUR
QUARTERLY FIGURES Q2/2010 Q1/2010 Q4/2009 Q3/2009 Q2/2009
Net sales 18,6 18,3 17,9 16,7 16,1
Other operating income 0,0 0,2 0,2 0,1 0,2
Operating expenses -18,0 -17,5 -15,8 -16,0 -22,7
Depreciations and impairments -0,4 -0,4 -0,4 -0,5 -0,3
Operating profit 0,3 0,7 1,8 0,4 -6,7
Financial items 0,8 0,1 0,0 -0,5 -0,4
Profit before taxes 1,1 0,8 1,8 -0,1 -7,1
Income taxes -0,1 -0,4 1,6 0,1 -0,1
Minority interest 0,0 0,0 0,0 0,0 0,0
Profit for the financial period 1,0 0,4 3,4 0,0 -7,2
INCOME STATEMENT MEUR MEUR MEUR MEUR MEUR
CUMULATIVE 1-6/10 1-3/10 1-12/09 1-9/09 1-6/09
Net sales 36,9 18,3 67,5 49,7 33,0
Other operating income 0,2 0,2 0,7 0,5 0,4
Operating expenses -35,4 -17,5 -71,3 -55,5 -39,5
Depreciations and impairments -0,8 -0,4 -1,7 -1,2 -0,7
Operating profit 1,0 0,7 -4,7 -6,5 -6,9
Financial items 1,0 0,1 -0,7 -0,7 -0,2
Profit before taxes 1,9 0,8 -5,4 -7,2 -7,1
Income taxes -0,6 -0,4 1,4 -0,2 -0,3
Minority interest 0,0 0,0 0,0 0,0 0,0
Profit for the financial period 1,4 0,4 -3,9 -7,4 -7,4
BALANCE SHEET MEUR MEUR MEUR MEUR MEUR
30.6.10 31.3.10 31.12.09 30.9.09 30.6.09
ASSETS
NON-CURRENT ASSETS
Goodwill 18,9 16,2 16,2 15,0 15,0
Capitalized development cost 2,9 2,8 2,8 2,9 3,0
Intangible assets 2,6 1,3 1,4 1,4 1,7
Tangible assets 1,4 1,3 1,3 1,3 1,4
Investments 0,1 0,1 0,1 0,1 0,1
Other long-term assets 0,4 0,4 0,4 0,4 0,1
Deferred tax assets 0,3 0,9 1,0 2,6 2,5
NON-CURRENT ASSETS TOTAL 26,6 23,0 23,1 23,7 23,7
CURRENT ASSETS
Inventories 0,0 0,0 0,5 0,2 0,0
Short-term receivables 24,2 25,0 20,7 22,6 25,2
Cash and cash equivalents 4,9 6,4 5,6 11,4 11,9
CURRENT ASSETS TOTAL 29,1 31,6 29,2 34,5 37,3
ASSETS TOTAL 55,7 54,5 52,3 58,2 60,9
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity 20,1 19,5 19,2 15,9 15,3
Minority interest 0,1 0,1 0,1 0,1 0,1
Non-current liabilities 3,4 0,6 3,0 4,2 4,5
Current liabilities 32,1 34,4 30,0 38,1 41,0
Liabilities 35,5 34,9 33,0 42,3 45,6
EQUITY AND LIABILITIES TOTAL 55,7 54,5 52,3 58,2 60,9
KEY FIGURES, MEUR Q2/2010 Q1/2010 Q4/2009 Q3/2009 Q2/2009
QUARTERLY FIGURES
Scope of Operations
Net sales, MEUR 18,6 18,3 17,9 16,7 16,1
Average number of personnel 522 516 538 543 554
Profitability
Operating profit , MEUR 0,3 0,7 1,8 0,4 -6,7
Operating profit, % of net sales 1,6 3,7 10,3 2,2 -41,5
Profit before taxes and minority
interest, MEUR 1,1 0,8 1,8 -0,1 -7,1
Profit before taxes and minority
interest, % of net sales 6,1 4,4 10,2 -0,7 -43,8
Return on equity, % (ROE) 14,0 7,6 -18,8 -50,6 -77,2
Return on investment, % (ROI) 18,8 14,9 -11,2 -21,3 -34,1
Financial Standing
Quick ratio 0,9 0,9 0,9 0,9 0,9
Current ratio 0,9 0,9 1,0 0,9 0,9
Equity ratio, % 36,3 36,4 37,4 27,4 25,3
Interest-bearing net debt, MEUR 5,5 4,0 4,9 4,2 3,6
Gearing, % 27,0 20,2 25,2 26,5 23,7
Per Share Data
Earnings per share, EUR (EPS) 0,014 0,005 0,050 0,000 -0,104
Earnings per share, EUR (EPS), adjusted
for dilution effect 0,014 0,005 0,050 0,000 -0,104
Shareholders' equity per share, EUR 0,292 0,284 0,280 0,231 0,222
[HUG#1436811]
ALDATA SOLUTION OYJ'S INTERIM REPORT JANUARY-JUNE 2010 (UNAUDITED)
| Source: Aldata Solution Oyj
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