Aldata Solution Oyj STOCK EXCHANGE RELEASE 1(6)
February 13th, 2007, at 9.00 a.m. (EET)
ALDATA SOLUTION OYJ FINANCIAL STATEMENT RELEASE JANUARY - DECEMBER 2006
(unaudited)
Aldata in 2006 (compared to 2005)
-Net sales were EUR 88.8 million (EUR 76.0 million).
- Gross profit was EUR 70.7 million (EUR 63.1 million).
- Operating profit, EBIT, was EUR 5.5 million (EUR 5.2 million). The operating
costs include EUR 0.6 million non-recurring costs related to the program for
increasing efficiency. The costs related to stock options were EUR 0.9 (0.5)
million.
- Profit before taxes was EUR 5.5 million (EUR 5.5 million).
- Net profit was EUR 2.5 million (EUR 3.4 million) and earnings per share, EPS,
were 0.037 euros (0.050 euros).
- Cash flow from operating activities was EUR -2.2 million (EUR 4.5 million)
and cash and equivalents amounted to EUR 5.7 million (EUR 9.4 million) at the
end of December 2006.
- The order backlog at year end was EUR 19.1 million (EUR 20.7 million at the
end of 2005 and EUR 19.2 million at the end of Q3 2006).
Aldata in Q4 2006 (compared to Q4 2005)
- Net sales were EUR 25.3 million (EUR 21.6 million).
- Gross profit was EUR 19.4 million (EUR 18.2 million).
- Operating profit, EBIT, was EUR 1.3 million (EUR 2.6 million). Operating
costs in the fourth quarter include EUR 0.6 million non-recurring costs related
to the program for increasing efficiency.
- Profit before taxes was EUR 1.2 million (EUR 2.6 million).
- Net profit was EUR 0.3 million (EUR 1.9 million) and earnings per share, EPS,
were 0.005 euros (0.028 euros).
Market overview
The year 2006 was challenging for software vendors providing solutions for the
retail and logistics sectors. Mergers and acquisitions activity, both among
customers as well as among software suppliers, led to delays in decision-making
for large IT investments and to permanent changes in ongoing software
implementation projects. Aldata, with its 17 per cent of organic growth, was one
of the few software vendors that further increased net sales and gained market
share in this demanding environment.
The situation stabilized towards the end of the year; retailers have returned to
the market and many leading retailers are today planning actions to move their
old proprietary IT infrastructure towards standardized software architecture.
The area of retail software is currently developing very rapidly with many new
technologies and functionalities requested by customers. On the technology front,
the main themes going into 2007 are Linux and SOA architecture. Regarding
functionalities, there is a high demand for perpetual inventory management,
automatic replenishment, product traceability and global supply chain
optimization. Regarding project management and execution, the importance of a
fast and cost-efficient implementation methodology and flexibility to meet
customer specific demands, is very high.
Aldata, with over 20 years of experience in retail and logistics and global
coverage of successful references, is very well prepared to fulfill these
customer needs.
In 2006, growth was strong in emerging markets such as Eastern Europe, the Middle
East, and Russia. As retailing develops further and retail chains are gaining
market share from small independent retailers in China and India, these rapidly
growing markets will provide opportunities for suppliers of standardized software
solutions.
In the area of logistics software, the market was challenging in 2006. The main
growth drivers in 2007 will be new warehouse projects in emerging markets and
replacement projects for existing warehouses in Western Europe. Global supply
chain optimization will be a key growth factor in the future.
In 2006, Aldata grew faster than most of its competitors and peers. Aldata
expects to continue to gain market share in 2007.
October - December 2006 financial performance
Net sales in the fourth quarter were EUR 25.3 million (EUR 21.6 million).
Product sales, which include licenses for standard products, licenses for
customer-specific developments and maintenance revenues, accounted for 51% (45%)
of the total net sales. Consulting services accounted for 37% (48%), and third
party licenses and hardware accounted for 12% (7%).
The Group's gross profit was EUR 19.4 million (EUR 18.2 million), which
represents 77% (84%) gross margin.
Operating profit, EBIT, totaled EUR 1.3 million (EUR 2.6 million), which
represents a 4.9% operating margin (12.2%). Operating profit excluding expenses
for option plans was EUR 1.5 million (EUR 2.9 million). Pre-tax profit was EUR
1.2 million (EUR 2.6 million), net profit was EUR 0.3 million (EUR 1.9 million)
and earnings per share, EPS, were 0.005 euros (0.028 euros).
Operating costs in the quarter include EUR 0.6 million non-recurring costs
related to the efficiency improvement program, which was launched at the end of
2006. No significant further costs for the program are expected.
Capitalized research and development costs were EUR 0.2 million (EUR 0.1
million). The amortization on capitalized development costs was EUR 0.1 million
(EUR 0.0 million).
Taxes were EUR 0.9 million (EUR 0.6 million) and the tax rate was 75% (25%). The
tax rate level in the quarter was very high, and measures to bring it down to an
acceptable level have been taken. For 2007, Aldata expects a clearly lower tax
rate than in 2006.
January - December 2006 financial performance
Aldata's net sales were EUR 88.8 million (EUR 76.0 million), which represents
organic growth of 17% over the previous year's net sales. Non-recurring costs
related to the program for increasing profitability were EUR 0.6 million and were
booked in the fourth quarter.
Product sales, which include licenses for standard products, licenses for
customer specific developments and maintenance revenues, accounted for 51% (42%).
Consulting services, which include project work, integration and training
services, accounted for 40% (51%). Third party licensees and hardware accounted
for 9% (7%).
The Group's gross profit was EUR 70.7 million (EUR 63.1 million), which
represents an 80% (83%) gross margin.
Operating profit, EBIT, totaled EUR 5.5 million (EUR 5.2 million), which
represents a 6.2% (6.9%) operating margin. Pre-tax profit was EUR 5.5 million
(EUR 5.5 million), net profit was EUR 2.5 million (EUR 3.4 million) and earnings
per share, EPS, were 0.037 euros (0.050 euros).
Research and development costs in the financial year totaled EUR 18.2 million
(EUR 15.7 million), of which EUR 0.7 million (EUR 0.6 million), or 3.8% (4.0%),
were capitalized. The depreciation on capitalized development costs was EUR 0.2
million (EUR 0.1 million).
Costs related to stock options were EUR 0.9 million (EUR 0.5 million). Taxes for
the financial year were EUR 2.9 million (EUR 2.0 million) and tax rate was 53%
(36%).
Aldata's reported order backlog includes product and third party product sales,
which will be recognized as revenues during the following twelve months. At the
end of 2006, Aldata's order backlog was EUR 19.1 million (EUR 20.7 million at the
end of 2005 and EUR 19.2 million at the end of Q3 2006).
Business units in January - December 2006
Net sales of Supply Chain Management (SCM) Software business unit grew by 16% to
EUR 74.2 million (EUR 64.1 million). The gross profit was EUR 59.4 (EUR 53.6)
million and the operating profit, EBIT, was EUR 5.1 (EUR 7.0) million. The
positive development of the net sales is attributable to a number of successful
Aldata G.O.L.D. implementation projects and to increased sales of new G.O.L.D.
modules. The decrease in profitability is mainly a result of significantly
increased costs in product development.
Net sales of the In-Store Software business unit increased to EUR 14.6 million
(EUR 11.9 million). The gross profit was EUR 11.3 million (EUR 9.6 million) and
the operating profit, EBIT, was EUR 2.6 (EUR 0.0) million. The unit has further
strengthened its presence in the Nordic area and first international successes
with the new G.O.L.D. POS product came when the Group signed new contracts with
customers in India, the Middle East, and in the UK. In 2007, there are great
expectations for further international expansion of G.O.L.D. POS.
According to IFRS, unallocated expenses are reported separately from segment
reporting. In 2006, Aldata Group's unallocated expenses totaled EUR 2.1 million
(EUR 1.8 million).
Finance and investments
At the end of 2006, Aldata Group's cash, cash equivalents and marketable
securities amounted to EUR 5.7 million (EUR 9.4 million), and the balance sheet
total stood at EUR 55.3 million (EUR 48.5 million). The Group had no debt (EUR
0.3 million) and interest-bearing net liabilities totaled EUR -5.1 million (EUR
-8.7 million). Short-term receivables totaled EUR 35.0 million (EUR 26.9
million). The Group's solvency ratio was 54.5% (54.1%), gearing was -16.9% (-
34.4%), and shareholder's equity per share was EUR 0.437 (0.372).
The Group's capital expenditure on hardware and software purchases amounted to
EUR 1.8 million (EUR 1.3 million). A total of EUR 0.7 million (EUR 0.6 million)
development costs were capitalized during the period.
There were no changes in 2006 to the reserves related to the dispute with
GrandVision. In 2004, Aldata made a reserve covering open receivables related to
the project.
Research and Development
Aldata's research and development costs in January-December 2006 were 18.2
million (EUR 15.7 million) and made up 20 percent (22%) of net sales. A total of
EUR 0.7 million (EUR 0.6 million) of development costs were capitalized during
the period. The amortization on capitalized development costs was EUR 0.2 million
(EUR 0.1 million).
At the end of the review period 185 (211) employees were involved in R&D
activities. This represents 29% of the Group's total personnel. Aldata's R&D
centers are located in Paris, France, and in Vantaa, Finland.
Personnel
Aldata Group employed 632 (580) persons at the end of 2006 and on average had 614
(547) employees during the year. The personnel growth rate was 9% in the Supply
Chain Management Software business unit, as well as in the In-Store Software
business unit. Geographically, the relative growth was strongest in Aldata's
subsidiary in the US.
Dec 31, 2006 Dec 31, 2005
By Business Units Persons % Persons %
SCM Software 513 81 471 81
In-Store Software 108 17 99 17
Group Administration 11 2 10 2
Total 632 100 580 100
Approximately 54% of personnel were employed by Aldata companies in France, 14%
in Finland, 12% in Germany, 7% in Sweden, 5% in the US, 4% in Slovenia, 3% in the
UK, and 1% in Russia.
Share performance, foreign ownership, and changes in ownership during 2006
The highest price of the Aldata Solution Oyj share during January-December 2006
was 2.83 EUR and the lowest price 1.53 EUR. The average price was 1.99 EUR and
the closing price 1.77 EUR. The trading volume on the Helsinki Stock Exchange was
EUR 56.8 million and altogether 28.6 million shares were traded, which represents
42% of the shares. Aldata Solution Oyj has 68.1 million shares outstanding. The
number of outstanding shares has increased by 686 953 shares during the financial
period. A total of 591 593 shares were emitted in connection with the share
capital increase decided in June 2006 and a total of 95 000 shares have been
subscribed with Aldata Oyj's 2003A option rights in August 2006.
The number of shareholders was 6009 and the free float was 99.8% of the share
capital at the end of 2006. A total of 51.6% of Aldata Solution Oyj's shares were
nominee registered at the end of the period.
Events after the review period
Aldata has incorporated Aldata Smart Card, specialized in smart cards and loyal
customer software systems, to Aldata Solution Finland Oy. Company's customers,
contracts and products were transferred to Aldata Solution Finland Oy on January
1st, 2007.
On January 5th 2007, Aldata announced that it will provide the Finnish company
Tradeka with a new Linux-based point-of-sales system. The application will be
fully in use by the end of the year 2008 in all Euromarket, Siwa, and Valintatalo
stores.
On January 31st 2007, Aldata announced an agreement with Elephant Pharm, a one-
stop wellness and pharmacy chain in the US. The contract includes the Aldata
G.O.L.D. Central and Shop modules.
The Board of Directors' dividend proposal
The Board of Directors will propose to the Annual General Meeting on March 29th
2007 that no dividend shall be distributed.
The Board of Directors will, however, propose that the Annual General Meeting
authorize the Board of Directors to decide on the repurchase of the company's own
shares using retained distributable assets, so that the maximum number of
repurchased shares does not exceed
5 million shares. This corresponds approximately 7% of the company's current
registered capital stock and the total voting rights.
The program to improve efficiency and outlook for 2007
The growth of EUR 13 million in net sales in 2006 did not increase operating
profits as much as planned, and therefore in the fourth quarter of 2006, the
Group launched a program targeted to significantly increase its profitability in
2007. The main actions taken are:
- Restructuring of loss-making operations in Germany and in the UK. Both areas
are expected to be profitable in 2007.
- Since the complete re-writing of the main product G.O.L.D. has been finished,
Aldata will move from two releases to one new release annually. As a result,
the product team has been reorganized, the team has been downsized and part of
the team has been transferred to billable services.
- Implementation of a new risk-control process for fixed-price projects.
- On the Group level, a clarification of responsibilities has been made with
the goal of improving co-operation and load balance between various areas.
These actions will accomplish higher profitability both in operating profit
(EBIT) and in net profit. Special emphasis will be placed on the Group's
operating cash-flow. The results of these actions will gradually affect
profitability in the first half of 2007, and the full impact will be realized in
the second half.
Lower development revenues as a result of the move from two G.O.L.D. releases to
one and late start in some new, already signed, projects, will negatively affect
first quarter performance. In the first quarter of 2007, revenues are expected to
be significantly lower than in the first quarter of 2006 and the result is
expected to be negative. However, the planned load for the following quarters is
at a good level and results of the actions to improve profitability will
significantly improve the operational efficiency. Therefore the Company is
confident in expecting for the full year 2007 a continued growth in net sales, a
significant increase in operating margin compared to 2006 and a positive
operating cash flow.
Helsinki, February 13th 2007
Aldata Solution Oyj
Board of Directors
Further information:
Aldata Solution Oyj, René Homeyer, President and CEO, tel. +33 683 810 888
Aldata Solution Oyj, Thomas Hoyer, CFO, tel. +358 45 670 0491
Aldata will arrange a press conference for media and financial analysts in
Helsinki on February 13th, at 12.00 p.m. (EET) in Scandic Hotel Simonkenttä
(Simonkatu 9, Helsinki) in the Espa cabinet on the ground floor.
The presentation material will be published on the Group's web site: www.aldata-
solution.com
Aldata in brief
Aldata Solution is one of the global leaders in supply chain execution software
for retail, wholesale, and logistics companies. The company's comprehensive range
of Supply Chain Management and In-Store solutions enable its more than 300
customers across 50 countries to enhance productivity, profitability,
performance, and competitiveness. Aldata develops and supports its software
through more than 600 Aldata professionals and a global partner network. Aldata
is a public company quoted on the Helsinki Stock Exchange with the identifier
ALD1V. More information at: www.aldata-solution.com.
Distribution:
OMX Helsinki Stock Exchange
Media
APPENDICES
1 Income Statement
2 Balance Sheet
3 Statement of Change in Equity
4 Cash Flow
5 Contingent Liabilities
6 Key Figures
7 Segment Information
8 Quarterly Income Statement and Balance Sheet
9 Quarterly Key Figures
APPENDIX 1
INCOME STATEMENT
MEUR MEUR Change
*) unaudited 2006 *) 2005 %
Net sales 88.8 76.0 16.9 %
Other operating income 0.4 0.7 -46.7 %
Material and services -18.5 -13.5 -36.8 %
Personnel expenses -45.9 -41.0 -11.7 %
Depreciations and impairments -1.1 -1.1 -1.7 %
Other operating expenses -18.1 -15.8 -14.9 %
Operating profit 5.5 5.2 6.2 %
Financial items -0.1 0.3 -124.7 %
Profit before taxes 5.5 5.5 -0.8 %
Income taxes -2.9 -2.0 -46.0 %
Minority interest 0.0 -0.1 80.8 %
Profit for the year 2.5 3.4 -25.7 %
Result for the year continuing operations 2.5 3.4 -25.7 %
Profit for the year 2.5 3.4 -25.7 %
Earnings per share 0.037 0.050
Earnings per share diluted 0.037 0.050
APPENDIX 2
BALANCE SHEET MEUR MEUR
*) unaudited 31 Dec 31 Dec
2006 *) 2005
ASSETS
Non-current assets
Goodwill 9.4 8.5
Capitalized development cost 1.4 0.9
Intangible assets 0.2 0.1
Tangible assets 1.5 1.7
Other long-term assets 1.0 0.4
Deferred tax assets 0.5 0.5
Non-current assets total 14.1 12.1
Current assets
Inventories 0.5 0.1
Account receivable 21.2 16.2
Loan receivable 0.0 0.1
Prepayments and accrued income 12.8 9.7
Other short-term receivables 1.0 0.9
Cash and cash equivalents 5.7 9.4
Current assets total 41.2 36.4
Assets total 55.3 48.5
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity
Share capital 0.7 0.7
Share Premium Fund 18.3 17.0
Translation difference 0.0 -0.1
Retained earnings 10.9 7.5
Equity holders of the parent company 29.8 25.1
Minority interest 0.1 0.4
Shareholders' equity total 29.9 25.4
Non-current liabilities
Long-term loans 0.4 0.4
Other provisions 1.3 1.4
Other long-term loans 0.1 0.1
Non-current liabilities total 1.7 1.9
Current liabilities
Short-term loans 0.2 0.3
Advances received 0.5 1.5
Account payable 6.6 4.3
Accrued expenses and prepayments 10.8 9.2
Other provisions 0.1 0.1
Other short-term loans 5.4 5.9
Current liabilities total 23.7 21.2
Liabilities total 25.4 23.1
Equity and liabilities total 55.3 48.5
APPENDIX 3
STATEMENT OF CHANGES IN EQUITY
Share Share Translation Retained
TEUR capital premium difference earnings Total
fund
EQUITY 01.01.2005 674 17 002 126 3 559 21 361
Translation difference 0 0 -201 0 -201
Result of the financial
year 0 0 0 3 401 3 401
Total 0 0 -201 3 401 3 200
Share based payments
recognised against
equity 0 0 0 516 516
EQUITY 31.12.2005 674 17 002 -75 7 476 25 078
Issue of share capital 6 1 143 0 0 1 149
Exercise of options 1 146 0 0 147
Translation difference 0 0 42 0 42
Result of the financial 0 0 0 2 526 2 526
year
Total 7 1 289 42 2 526 3 864
Share based payments 0 0 0 860 860
recognised against equity
EQUITY 31.12.2006 681 18 291 -33 10 862 29 802
APPENDIX 4
CASH FLOW STATEMENT
MEUR MEUR
2006 2005
Cash flow from operating activities
Operating result 5.5 5.2
Adjustment to operating result 1.7 3.4
Change in working capital -6.3 -4.5
Interest received and other financial income 0.2 0.5
Interest paid and other financial expenses -0.1 -0.2
Taxes paid -3.2 -0.1
Net cash from operating activities -2.2 4.5
Cash flow from investing activities
Group companies acquired -0.1 -0.1
Investments in tangible and intangible assets -1.3 -1.3
Loans granted -0.2 -0.1
Net cash used in investing activities -1.6 -1.5
Cash flow before financing activities -3.8 3.0
Cash flow from financing activities
Long-term loans, repayments -0.1 0.0
Share issue 0.1 0.0
Net cash used in financing activities 0.1 -0.1
Net cash flow, total -3.7 2.9
Change in cash and cash equivalents -3.7 2.9
Cash and cash equivalents 1 Jan. 9.4 6.5
Cash and cash equivalents 31 Dec. 5.7 9.4
APPENDIX 5
COMMITMENTS AND CONTINGENCIES MEUR MEUR
2006 2005
Mortages 5.4 5.4
Leasing liabilities 16.1 8.6
Guarantees on behalf of group company debt 0.2 0.2
app 6
APPENDIX 6
Unaudited *)
IFRS IFRS IFRS FAS FAS
KEY FIGURES, MEUR 2006*) 2005 2004 2003 2002
SCOPE OF OPERATIONS
Net sales, MEUR 88,8 76,0 66,1 75,3 65,6
Average number of personnel 614 547 525 470 448
Gross capital expenditure, MEUR 1,8 1,9 1,4 7,6 7,4
Gross capital expenditure, % of 2,0 2,6 2,2 10,1 11,2
net sales
PROFITABILITY
Operating profit , MEUR 5,5 5,2 -0,8 3,4 4,7
Operating profit, % of net sales 6,2 6,9 -1,2 4,6 7,1
Profit before taxes and minority 5,5 5,5 -1,0 2,3 2,3
interest, MEUR
Profit before taxes and minority 6,2 7,3 -1,4 3,1 3,5
interest, % of net sales
Return on equity, % (ROE) 9,2 14,9 -16,7 1,5 9,8
Return on investment, % (ROI) 21,0 23,5 -1,2 13,8 20,1
FINANCIAL STANDING
Quick ratio 1,7 1,7 1,6 1,4 1,6
Current ratio 1,7 1,7 1,7 1,6 1,8
Equity ratio, % 54,5 54,1 54,0 48,2 51,7
Interest-bearing net debt, MEUR -5,1 -8,7 -6,0 -5,4 -7,2
Gearing, % -16,9 -34,4 -27,6 -21,2 -28,8
PER SHARE DATA 2006 2005 2004 2003 2002
Earnings per share, EUR (EPS) 0,037 0,050 -0,059 0,004 0,028
Earnings per share, EUR (EPS), 0,037 0,050 -0,059 0,004 0,027
adjusted for dilution effect
Shareholders' equity per share, 0,372 0,372 0,317 0,372 0,359
EUR
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 - 485 32
Share performance (EUR)
Share price on 31 Dec, EUR 1,77 1,85 1,11 1,94 0,88
Share issue-adjusted average 1,99 1,56 1,49 1,58 1,38
share price, EUR
Share issue-adjusted lowest 1,53 1,07 1,00 0,86 0,43
share price, EUR
Share issue-adjusted highest 2,83 2,07 2,24 2,19 2,72
share price, EUR
Market capitalization, MEUR 121 125 71 131 58
2006 2005 2004 2003 2002
No. of shares
traded during the
financial period,
(during the period of
quotation in
1999) 28 577 161 44 229 797 51 724 278 53 101 752 53 655 506
% of the company's
average number
of shares 42 % 66 % 77 % 79 % 81 %
Number of
shares 68 120 895 67 433 942 67 433 942 67 433 942 66 145 742
Share
issue-adjusted
number of
shares annual
average 68 120 895 67 433 942 66 490 002 66 490 002 65 783 016
Share
issue-adjusted
number of
shares at the
end of the
financial
period 68 120 895 67 433 942 67 433 942 67 433 942 66 145 742
Share
issue-adjusted
number of
shares annual
average,
adjusted
for dilution
effect 68 120 895 67 433 942 66 857 022 66 857 022 66 229 368
Share
issue-adjusted
number of
shares at
the end of
the financial
period,
adjusted
for dilution
effect 68 120 895 67 433 942 67 436 122 67 436 122 66 567 535
APPENDIX 7
SEGMENT INFORMATION
2006 Supply Chain In-Store Eliminations Total
Net Sales to External 74.2 14.6 0.0 88.8
Customers
Segment operating profit 5.1 2.6 0.0 7.7
Unallocated items -2.1
Operating profit 5.5
Financial income and expenses 0.0
Profit before taxes and
minority interest 5.5
Taxes -2.9
Minority interest 0.0
Profit for the Financial
Period 2.5
Segment assets 43.2 5.3 0.0 48.6
Unallocated assets 6.7
Total 55.3
Segment liabilities 20.0 2.5 0.0 22.6
Unallocated liabilities 2.9
Total 25.4
Capital expenditures 1.5 0.2 0.0 1.7
Unallocated capital
expenditures 0.1
Total 1.8
Depreciations 0.8 0.2 0.0 1.1
Unallocated depreciations 0.1
Total 1.1
2005 Supply Chain In-Store Elimina-tions Total
Net Sales to External 64.1 11.9 0.0 76.0
Customers
Segment operating profit 7.1 0.0 0.0 7.0
Unallocated items -1.8
Operating profit 5.2
Financial income and
expenses 0.3
Profit before taxes
and minority interest 5.5
Taxes -2.0
Minority interest -0.1
Profit for the Financial
Period 3.4
Segment assets 34.8 2.8 -0.1 37.6
Unallocated assets 11.0
Total 48.5
Segment liabilities 17.1 2.3 -0.1 19.2
Unallocated liabilities 3.9
Total 23.1
Capital expenditures 1.4 0.4 0.0 1.8
Unallocated capital expenditures 0.1
Total 1.9
Depreciations 0.8 0.2 0.0 1.1
Unallocated depreciations 0.1
Total 1.1
APPENDIX 8
INCOME STATEMENT MEUR MEUR MEUR MEUR MEUR
quarterly figures Q4/2006 Q3/2006 Q2/2006 Q1/2006 Q4/2005
Net sales 25.3 19.9 21.2 22.4 21.6
Other operating income 0.0 0.1 0.1 0.2 0.3
Operating expenses -23.8 -18.2 -19.6 -20.8 -19.0
Depreciations and -0.3 -0.3 -0.3 -0.3 -0.2
impairments
Operating profit 1.3 1.5 1.4 1.4 2.6
Financial items 0.0 0.1 -0.1 0.0 0.0
Profit before taxes 1.2 1.6 1.3 1.3 2.6
Income taxes -0.9 -0.7 -0.8 -0.5 -0.6
Minority interest 0.0 0.0 0.0 0.0 0.0
Profit for the financial 0.3 0.9 0.5 0.8 1.9
period
INCOME STATEMENT MEUR MEUR MEUR MEUR MEUR
cumulative 1-12/06 1-9/06 1-6/06 1-3/06 1-12/05
Net sales 88.8 63.5 43.6 22.4 76.0
Other operating income 0.4 0.4 0.3 0.2 0.7
Operating expenses -82.5 -58.7 -40.5 -20.8 -70.3
Depreciations and -1.1 -0.8 -0.6 -0.3 -1.1
impairments
Operating profit 5.5 4.3 2.8 1.4 5.2
Financial items -0.1 0.0 -0.1 0.0 0.3
Profit before taxes 5.5 4.2 2.7 1.3 5.5
Income taxes -2.9 -2.0 -1.3 -0.5 -2.0
Minority interest 0.0 0.0 -0.1 0.0 -0.1
Profit for the financial 2.5 2.2 1.3 0.8 3.4
period
BALANCE SHEET MEUR MEUR MEUR MEUR MEUR
31.12.06 30.9.06 30.6.06 31.3.06 31.12.05
ASSETS
NON-CURRENT ASSETS
Goodwill 9.4 9.4 8.5 8.5 8.5
Capitalized development 1.4 1.3 1.2 1.0 0.9
cost
Intangible assets 0.2 0.2 0.1 0.1 0.1
Tangible assets 1.5 1.5 1.6 1.7 1.7
Investments 0.0 0.0 0.0 0.0 0.0
Other long-term assets 1.0 0.6 0.6 0.5 0.4
Deferred tax assets 0.5 0.5 0.4 0.4 0.5
NON-CURRENT ASSETS TOTAL 14.1 13.6 12.4 12.3 12.1
CURRENT ASSETS
Inventories 0.5 0.3 0.5 0.2 0.1
Short-term receivables 35.0 31.2 28.2 31.0 26.9
Cash and cash equivalents 5.7 5.5 9.2 9.0 9.4
CURRENT ASSETS TOTAL 41.2 37.2 38.0 40.3 36.4
ASSETS TOTAL 55.3 50.8 50.4 52.6 48.5
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity 29.8 29.2 26.8 26.1 25.1
Minority interest 0.1 0.1 0.5 0.4 0.4
Non-current liabilities 1.7 1.9 1.9 2.1 1.9
Current liabilities 23.7 19.6 21.2 24.0 21.2
EQUITY AND LIABILITIES 55.3 50.8 50.4 52.6 48.5
TOTAL
APPENDIX 9
KEY FIGURES, MEUR Q4/2006 Q3/2006 Q2/2006 Q1/2006 Q4/2005
quarterly figures
Scope of Operations
Net sales, MEUR 25.3 19.9 21.2 22.4 21.6
Average number of personnel, 614 609 603 595 547
cumulative
Profitability
Operating profit , MEUR 1.3 1.5 1.4 1.4 2.6
Operating profit, % of net 4.9 7.5 6.6 6.2 12.2
sales
Profit before taxes and 1.2 1.6 1.3 1.3 2.6
minority interest, MEUR
Profit before taxes and
minority interest, % of net 4.8 7.9 6.3 6.0 12.0
sales
Return on equity, % (ROE) 9.2 10.9 10.3 12.3 14.9
Return on investment, % (ROI) 21 21.9 22.1 22.0 23.5
Financial Standing
Quick ratio 1.7 1.9 1.8 1.7 1.7
Current ratio 1.7 1.9 1.8 1.7 1.7
Equity ratio, % 54.5 58.5 55.4 52.0 54.1
Interest-bearing net debt, -5.1 -4.9 -8.6 -8.4 -8.7
MEUR
Gearing, % -16.9 -16.7 -31.8 -31.7 -34.4
Per Share Data
Earnings per share, EUR (EPS) 0.005 0.014 0.008 0.011 0.028
Earnings per share, EUR
(EPS), adjusted for dilution 0.005 0.014 0.008 0.011 0.028
effect
Shareholders' equity per 0.437 0.428 0.397 0.386 0.372
share, EUR
ALDATA SOLUTION OYJ FINANCIAL STATEMENT RELEASE JANUARY - DECEMBER 2006(unaudited)
| Source: Aldata Solution Oyj