Tiimari Plc Stock Exchange Release 1 November 2007
Addition to the release regarding the acquisition of Gallerix.
In addition to the stock exchange release published earlier today regarding the
acquisition of Gallerix and as a specification of information in the public
contrary to that of the stock exchange release, Tiimari Plc gives further
information on Gallerix as follows:
Certain information on the consolidated profit and loss account of Gallerix
TSEK TEUR TSEK TEUR
1.9.2006-31.8.2007 1.9.2005-31.8.2006
(12 months) (12 months)
(interim accounts) (annual accounts)
Turnover 116 061 12 547 106 055 11 465
Materials - 45 922 - 4 965 - 42 137 - 4 555
Personnel - 22 891 - 2 475 - 20 460 - 2 212
Other - 39 169 - 4 234 - 31 932 - 3 452
EBITDA 8 079 873 11 526 1 246
Certain information on the consolidated balance sheet of Gallerix
TSEK TEUR TSEK TEUR
31.8. 31.8. 31.8. 31.8
2007 2007 2006 2006
(interim accounts) (annual accounts)
Long term receivables 2 536 274 1 332 144
Inventory 14 572 1 575 14 244 1 540
Short term receivables 25 363 2 742 22 276 2 408
Total 42 472 4 592 37 852 4 092
Equity 22 273 2 408 17 850 1 930
Long term loans 6 540 707 8 707 941
Payables 13 659 1 477 11 295 1 221
Total 42 472 4 592 37 852 4 092
For the purposes of improved comparability, the figures in the tables have been
presented in SEK and EUR (conversion rate 1 EUR = 9.25 SEK).
In connection with the acquisition, the sellers have committed to, with respect
to the Tiimari shares received as consideration (in aggregate 463,320, calc.
value 4.90 e/share), a transfer restriction based on which 50% of the shares
will be released in one years' time and 50% in two years' time.
TIIMARI PLC
Further information is given by managing director Kristina Illi,
+358 400 408 889.
Tiimari Plc is the leading Nordic and Eastern-European retail store chain
specialising in home decoration, arts and crafts and gift wrapping items, cards,
office and school supplies and seasonal products. Tiimari has 160 stores in
central business locations in Finland, 14 in Estonia, 4 in Latvia, 3 in Poland
and one in Norway and 9 franchising stores in Sweden. One store will be opened
in Russia for the Christmas season 2007.
TiiMore Oy is a business gift merchandiser with a versatile and high quality
assortment of business gifts. It provides comprehensive solutions according to
its customer-oriented operations model. In addition to using traditional sales
representatives, TiiMore implements a web-based sales concept.
Gallerix was established in Uppsala in 1974. It has 92 stores in central
business locations in Sweden and one store in Finland. Expansion into the
international markets has a central role in the Gallerix growth strategy.
Gallerix's product selection is built around wall decoration products (framed
pictures, frames, posters) as well as cards. In addition, the selection includes
elegant gift items and gift wrapping supplies.