- Turnover increased by 4,6% and totalled 7,2 million euros (6,9
million euros)
- Operating result decreased by 240 thousand euros and totalled -190
thousand euros (50 thousand euros)
- Result was impacted by non-recurrent termination benefits amounting
to 440 thousand euros
- Earnings per share was -0,02 euros (0,00 euros)
Turnover by operation:
% 1-3/09 1-3/08 1-12/08
Softwareservices 63 66 61
Licences 25 23 26
Hardware 12 11 13
Turnover by segment:
Me 1-3/09 1-3/08 Change
Trade 4,8 4,7 +0,1
Industry and services 2,4 2,2 +0,2
Total 7,2 6,9 +0,3
Operating result by segment:
Me 1-3/09 1-3/08 Change
Trade -0,2 0,3 -0,5
Industry and services 0,0 -0,2 +0,2
Total -0,2 0,1 -0,3
Managing Director Hannu Ahola:"The year has started as anticipated. The overall economic situation
impacted the operations of Solteq to some extent. The work base at
several fields remained good and new customerships were established
as at the prior year rate. The result of the first quarter is
impacted by termination benefits (440 thousand euros) resulting from
co-operation negotiations. Without these one-off expenses we can
conclude that operational business has been more profitable than last
year and clearly positive. The estimation of cost savings during this
year is over one million euros and year 2010 around two million euros
resulting from the termination of employments and other cost savings.
Based on the beginning of the year our company is confident that the
profitability targets set for this year will be fulfilled and
operating result will achieve forecasted 5-7 percent of turnover."
BUSINESS ENVIRONMENT AND BUSINESS DEVELOPMENT
Solteq is a strategic partner for trade and industry, whose core
competency is IT solutions that are critical to business. Solteq
combines its own product portfolio with the products from the leading
software companies in the world to deliver individual business
development and ERP solutions for its customers. The information
that is processed by means of these solutions is helping customers to
lead their business even better than before and to improve their
profitability.
Solteq's operations are internally divided into five separate units.
The result is monitored through two operating segments. The segment
Trade consists of Trade and Auto Trade units. Industry and services
segment consists of Industry and Information Management units.
Application services is company's internal service unit. OOO Solteq
Russia operates as an independent subsidiary who with the assistance
of the parent company organization serves customers operating in
Russia.
TRADE
Business environment - Trade
The business environment of Solteq's Trade unit remained split as
during the last quarter in 2008. In the first quarter of the year,
reluctance in the decision making of Trade unit customers but also
conservative optimism was seen. During the beginning of the year
Trade unit customers took care of the continuance of their IT capital
expenditure by phasing the projects into smaller sections.
The demand for solutions aiming at increased efficiency of operations
and optimization has remained active although the prudence amongst
retailers has increased. Entities within trade are specifically
seeking automation of operations and improved productivity. Solteq
has due to its extensive solutions portfolio and partner network
solid position in the current market situation which promotes those
offering comprehensive solutions.
In wholesale projects demand is emphasized in the development of
operations of logistics centers and warehouses. Also the needs of
chain stores relate to the efficiency and improved turnover of
stocks. Additionally, chain stores are changing their systems to
match the requirements of SEPA- and PCI-standards. These standards
will call for changes in the systems of Finnish stores at least
throughout 2009.
During the review period worries over economic situation out of
Solteq's customer groups impacted most single stores where increased
price competition has increased the prudence of retailers towards new
capital expenditure.
Increased uncertainty also creates growth potential for trade
IT-partners. The customers are seeking domestic partners who have
established their positions and who they can trust to continue their
operations. In this development, Solteq has excellent possibilities
to increase its clientele.
Business environment - Auto Trade
The economic situation prospects of Auto Trade were weak in the
beginning of the year. In January - March the number of first
registrations of cars decreased by 36 percent compared to the same
period in 2008. The Finnish Information Centre of Automobile Sector
predicts that during the full year the number of registrations will
amount to approximately 92 000 which is around 40 percent less than
in 2008. This radical decrease will impact directly the capital
expenditure in data systems. Solteq anticipates that large data
system renewals will be entered into only when economic prospects are
clearer.
The most significant change in the business environment was the
renewal of car tax. The law which came into force on 1.4.2009 changed
in such a way that value added tax on car tax was abandoned and
respectively the car tax was increased. The change does not impact
the customer prices of cars but required changes in the systems of
car dealers. The changes impact different systems and their
interfaces.
Business development - Trade
During the first quarter the development of business operations in
the Trade unit was according to plans and the unit achieved its
financial objectives. The turnover of business unit Trade remained at
the same level as during first quarter of 2008.
Among the Solteq's customers in speciality goods the demand was
focused especially on consultancy services, expansions of store
management systems and training. The demand for consultancy services
has been boosted by customers' preparations for PCI-standard (Payment
Card Industry). This trend is foreseen to strengthen further during
2009.
Among wholesale the focus of demand was on solutions that make the
logistics chain more effective. During the last quarter of year
customers invested in procurement and warehouse optimization. The
demand for such projects has remained brisk, because the customers
are able to quickly benefit the advantages of those projects due to
the short repayment periods. Customers are interested in cost savings
that can be generated for example by the means of optimization of
warehouse shelf positions and forklift routes in the warehouse.
The most significant single project was the renovation of Tokmanni
group of companies' store management system that was adopted in over
130 store locations of Tokmanni during the review period. The
cooperation will continue within development projects in Tokmanni's
logistics center in Mäntsälä.
Solteq carried out large warehouse management renewal for adhesive
manufacturer Kiilto Oy. Kiilto will implement a solution related to
speech picking based on voice recognition, forklift user terminals
and fixed store locations in its warehouse. Placing, picking and
loading in the warehouse are optimized as a part of this renewal.
Kiilto is simplifying the operations of its warehouse and thus
looking for efficiency to inventory turnover and delivery reliability
by the means of this system expansion that is carried out by Solteq.
The focus of product development was on Solteq Hub- system. Solteq
Hub is an integration tool for message communications that enables
cross-utilization of data that is generated in different systems. In
addition during the review period the focus was on the version
management of Solteq's own systems and implementation of the project
management model of Solteq group of companies.
Business development - Auto Trade
The turnover and result of Auto Trade unit decreased compared to the
first quarter of 2008. The demand for services was focused on the
development of customers' existing systems. The emphasis of system
development focused on the adjustment works provided by car tax, such
as setting up of car tax calculators in car dealers' systems.
The review period of Auto Trade unit was branded by uncertainty. The
market situation has been very difficult for new system sales during
the early part of the year. The development of service sales has been
steadier, although some retrenchments may be seen in the sector.
In the challenging market situation Solteq has increased its efforts
in the development of its own products, so that the product range is
more able to compete than before, when the investments begin again.
INDUSTRY
Business environment - Industry
The business environment of Solteq's Industry remained uncertain
during the early part of the year 2009. The backlogs of orders of
large and middle-sized industrial companies have decreased and
companies have continued their cost saving measures. Cost savings and
precaution are evident also in the companies that are planning on IT
investments and the decision-making times of those companies are
extended.
The most cautious are export companies from which many have halted or
delayed investments. Instead in the business branch energy and in the
public sector the development projects have continued. Solteq
estimates that the moderate demand among those branches remains also
during the second quarter of 2009.
There is still demand in the markets for the solutions that enable
quick improvements in efficiency or provide cost benefits.
The demand situation in maintenance and material management IT-
systems was divaricated during the review period. Precaution was
evident especially in export-led large companies whose willingness to
make investments was mainly dull. Instead the middle-sized companies
were still quite active in investments.
The development of demand for ERP systems was heterogeneous. A few
new large projects were launched during the first quarter. Although
small fading was evident related to the investment decisions of small
and medium sized companies those companies continued to chase the
cost benefits by the means of ERP projects clearly more actively than
large companies.
Also the business environment of OOO Solteq Russia, which operates in
Russian markets, remained challenging during the first part of the
year. In the uncertain market situation foreign companies have
postponed their production plant investments and in some cases
completely cancelled those investments. Although the markets of
Russia seem to be more difficult in the short term point of view, the
total size of markets is still very large in the area. That's why
Solteq will significantly increase its marketing efforts in Russia
compared to 2008.
Business environment - Information Management
Solteq's Information Management business unit offers harmonization
and management of master data to its customers. The objective for
harmonization is to improve quality of the data that is recorded to
the IT- systems. Leading by information in integrated systems is
enabled for customers by the means of master data management.
The demand for harmonization services picked up during the first part
of year. Companies' needs for harmonization solutions have altered
from large system renewals to projects, in which companies achieve
cost savings and improve the effectiveness of existing systems. This
trend has increased the number of harmonization projects and
decreased the average size of projects. Solutions are sought to
exactly define unique needs by the means of those projects.
The customers of Information Management unit mainly consisted of
industrial companies. Solteq foresees that public sector customers
are increasing customer group in the future. Solteq believes that
companies will continue their investments in information management
also during the economically tight period, because clear cost savings
with short payback period are achieved by the means of harmonization.
Business development - Industry
The turnover of Solteq's Industry unit increased clearly compared to
the first quarter of 2008. Sales of ERP systems went according to
budget during the review period. The budgeted sales of maintenance IT
systems were not reached due to the postponed investment decisions of
large companies.
Among ERP projects the most significant was the SAP renewal for
Helsinki University that proceeded according to plans. Helsinki
University will change its personnel and financial administration to
SAP in this renewal project.
Earlier launched maintenance and material management related IT
system projects for UPM and Rautaruukki continued. Solteq will
deliver maintenance and material management system for UPM's Estonian
and Russian units. Cooperation with Rautaruukki continued in
Rautaruukki's Hämeenlinna unit, in which Solteq's maintenance IT
system was implemented. In addition during review period contracts
were concluded related to new maintenance IT system deliveries for
among others L&T Recoil Oy and Kemppi Oy.
In March Solteq announced its cooperation with Vapo group of
companies that operates in energy branch. Within this cooperation one
harmonious system was generated for Vapo. The maintenance works of
Vapo's different units are monitored and managed by the means of this
system. The objective of this system is to create transparency for
maintenance-, task- and material management of production plants.
During the first phase of this project the system is in use
approximately in 90 production plants of Vapo.
In the product development the efforts were focused on operative
asset management solution that is developed alongside with Microsoft
and from which Solteq announced on November 2008. During the review
period Solteq has developed the solution according to plans and
strengthened its Microsoft AX-knowledge. Several customers are also
involved in the project. Customers are participating to the
development work by giving feedback related to the features of
solution. First pilot customers are sought to the project during the
second quarter. In addition personnel resources were focused on
Solteq's own ERP renewal during the review period.
Business development - Information Management
The business operations of Information Management unit developed
according to plans during the review period. Turnover of the unit
increased clearly compared to the first quarter of 2008.
During the review period a policy was defined for the focus area of
sales to concentrate to smaller projects compared to previous year.
This selection appeared to be correct, because the unit achieved good
results in new sales. Among single projects the most important were
Rautaruukki's harmonization project in Hämeenlinna unit and
harmonization work in Outokumpu's steel mill in Tornio.
In the end of 2008 Solteq reorganized its sales resources and
transferred more personnel to sell unit's services. In addition a
separate team that is focused on generating cost savings from
customers' existing systems has been founded in the Information
Management unit. Above-mentioned measures generated quick impacts and
the sales of unit picked up clearly compared to the first quarter of
2008.
TURNOVER AND RESULT
Turnover increased 4,6% compared to the previous year and totalled
7.209 thousand euros (6.895 thousand euros).
The operating profit for the review period totalled -190 thousand
euros (50 thousand euros), result before taxes was -240 thousand
euros (-24 thousand euros) and the loss for the review period 189
thousand euros (-10 thousand euros).
Result was impacted by non-recurrent termination benefits amounting
to 440 thousand euros.
BALANCE SHEET AND FINANCING
The total assets amounted to 20.269 thousand euros (21.637 thousand
euros). Liquid assets totalled 420 thousand euros (255 thousand
euros).
The company's interest-bearing liabilities were 5.130 thousand euros
(6.620 thousand euros).
The company's equity ratio was 43,7% (41,4%).
INVESTMENTS, RESEARCH AND DEVELOPMENT
Gross investments during the review period were 139 thousand euros
(385 thousand euros).
Research and development
Solteq's research and development costs consist mainly of personnel
costs. When developing basic products, it is Solteq's strategy to
cooperate with global actors such as SAP, Wincor-Nixdorf and
Microsoft and utilize their resources and distribution channels. Own
development efforts are focused on added value products and
developing tailored service concepts.
During the review period development costs under IFRS have been
capitalized in the amount of 85 thousand euros (128 thousand euros).
The costs related to development are mainly presented due to their
nature as yearly costs in profit and loss account. Capitalized costs
are connected to two product development projects. The depreciation
according to plan will be started along with the commercial
implementation of the projects.
PERSONNEL
The number of permanent employees at the end of the review period was
245 (261). Average number of personnel during the review period was
252 (255). At the end of the review period the number of personnel
divided as follows: trade 122, industry and services 98 and shared
functions 25.
RELATED PARTY TRANSACTIONS
The company has related party relationships with members of the Board
of Directors, the managing director and the management group of the
Solteq group of companies. There haven't been significant changes in
the company's related party transactions after the issue of financial
statements from year 2008.
SHARES AND SHAREHOLDERS
Solteq Plc's equity on 31.3.2009 was 1.009.154,17 euros which was
represented by 12.148.429 shares. The shares have no nominal value.
In the end of the review period the amount of treasury shares in
Solteq Plc's possession was 258.436 shares. The amount of treasury
shares represented 2,13 % from total amount of shares and votes in
the end of the review period. The equivalent value of acquired shares
was 21.468 euros.
Exchange and rate
During the review period, the exchange of Solteq's shares in the
Helsinki Stock Exchange was 0,1 million shares (0,2 million shares)
and 0,1 million euros (0,3 million euros). Highest rate during the
review period was 1,25 euros and lowest rate 1,02 euros. Weighted
average rate of the share was 1,17 euros and end rate 1,10 euros. The
market value of the company's shares at the end of the review period
totalled 13,4 million euros (19,1 million euros).
Ownership
At the end of the review period, Solteq had a total of 1.988
shareholders (2.095 shareholders). Solteq's 10 largest shareholders
owned 8.183 thousand shares i.e. they owned 67,4 per cent of the
company's shares and votes. Solteq Plc's members of the board owned a
total of 5.189 thousand shares which equals 42,7 per cent of the
company's shares and votes.
ANNUAL GENERAL MEETING
Solteq Plc's annual general meeting on 27.3.2009 adopted the
financial statements for 2008 and the members of the board and the
managing director were discharged from liability for the financial
year 2008.
The annual general meeting decided in accordance with the board's
proposal a dividend of 0,04 euros per share. The balancing date of
dividend was 1.4.2009 and payment date 8.4.2009.
The annual general meeting decided to authorize the board of
directors to decide on acquiring the company's own shares so that the
amount in the possession of the company does not exceed 10 percent of
the company's total shares at that moment. The shares can be acquired
in order to develop the company's capital structure, finance and
execute acquisitions or similar arrangements or used as part of the
incentive scheme of the personnel or convey otherwise or be
invalidated. The shares can be acquired in other proportion than the
shareholders' holdings. The shares are to be acquired through public
trading. The authorization is valid until the beginning of the next
annual general meeting.
BOARD OF DIRECTORS AND AUDITORS
Six members were elected to the board of directors. Seppo Aalto, Ari
Heiniö, Veli-Pekka Jokiniva, Ali Saadetdin, Jukka Sonninen and Markku
Pietilä will continue as members of the board. The board elected Ali
Saadetdin to act as the chairman of the board.
KPMG Oy Ab, Authorized Public Accountants, were re-elected as
Solteq's auditors. Frans Kärki, APA, acts as the lead partner.
EVENTS AFTER THE REVIEW PERIOD
After the review period no events have occurred that require
reporting.
RISKS AND UNCERTAINITIES
The key uncertainties and risks are related to the timing and pricing
of the business deals that are the basis of the turnover, changes in
the level of costs and to the company's ability to manage extensive
contract agreements and deliveries.
The key business risks and uncertainties of the company are monitored
constantly as a part of the board and management group work. The
company has not organized a separate internal audit organization or
committee.
PROSPECTS
In the stock exchange bulletin that was announced 16.2.2009 the Board
of Directors of Solteq Plc has estimated that the turnover for 2009
is estimated to decrease by 0-5 percent and that the estimated
operating profit is 5-7 percent of turnover. At the present moment
there are no reasons to make changes to this estimate.
FINANCIAL REPORTING
This interim report has been prepared in accordance with the
recognition and measurement principles of IFRS-standards, but not all
of the requirements of IAS 34 have been applied in the preparation.
Solteq group of companies has applied starting from 1.1.2009
following new and revised standards: IFRS 8- Operating Segments and
IAS 1- Presentation of Financial Statements. The change of IFRS 8 has
effect on the segment information in notes and the change of IAS 1-
standard has effect on the presentation of profit and loss statement.
In all other respects the same accounting policies as in the annual
financial statements 2008 have been applied.
The financial result will be reported through two operating segments.
The Retail and Wholesale Trade segment includes both the Retail and
Wholesale Trade business unit and the Auto Trade business unit. The
Industry and Information Management units belong to the Industry and
Services segment. The Application Services unit forms a part of both
operating segments. The segments have been defined based on the
operations of company's customer groups. The most essential product-
and service types of Solteq group of companies are software services,
licenses and hardware sales. Implementation of IFRS 8 has not changed
the operating segments reported by Solteq group of companies, because
the segment information that was reported already earlier was based
on the management's internal reporting that was prepared in
accordance with the same recognition and measurement principles as
external reporting.
All forecasts and estimates presented in the interim report are based
on the current views of the management on the economic environment
and outlook. Results can differ from those implied as a result of,
among other factors, changes in economic market and competitive
conditions, changes in the regulatory environment and other
government actions.
The interim report is unaudited.
FINANCIAL INFORMATION
GROUP PROFIT AND LOSS ACCOUNT
(TEUR)
1.1.- 1.1.- 1.1.-
31.3.2009 31.3.2008 31.12.2008
NET TURNOVER 7 209 6 895 30 383
Other operating
income 1 4 44
Raw materials and
services -1 918 -1 457 -7 744
Staff expenses -4 230 -4 085 -15 583
Depreciation -173 -175 -718
Other operating
expenses -1 079 -1 132 -4 922
OPERATING RESULT -190 50 1 460
Financial income and
expenses -50 -74 -324
PROFIT/LOSS BEFORE APPROPRIATION
AND TAXES -240 -24 1 136
Income taxes 51 14 -269
PROFIT/LOSS FOR THE PERIOD
-189 -10 867
Other comprehensive income 0 0 0
TOTAL COMPREHENSIVE INCOME
-189 -10 867
Total profit/loss for the period and comprehensive income
attributable to
Owners of the parent -189 -10 867
Earnings / share,
e(undiluted) -0,02 0,00 0,07
Earnings / share,
e(diluted) -0,02 0,00 0,07
GROUP BALANCE SHEET (TEUR) 31.3.2009 31.3.2008 31.12.2008
ASSETS
NON-CURRENT ASSETS
Intangible assets
Intangible rights 2 489 2 150 2 417
Goodwill 8 286 8 286 8 286
Tangible assets 2 684 2 778 2 707
Investments
Other shares and similar
rights of ownership 93 117 93
Deferred tax
assets 316 671 268
Total non-current
assets 13 868 14 002 13 771
CURRENT ASSETS
Short-term debtors 5 981 7 380 7 567
Cash in hand and at banks 420 255 695
Total current
assets 6 401 7 635 8 262
TOTAL ASSETS 20 269 21 637 22 033
EQUITY AND LIABILITIES
CAPITAL AND RESERVES ATTRIBUTABLE TO THE SHAREHOLDERS
OF THE PARENT COMPANY
Share capital 1 009 1 009 1 009
Company's own shares -337 -14 -255
Share premium account 75 75 75
Unrestricted equity
fund 7 213 7 213 7 213
Retained earnings 1 084 693 693
Profit/loss for the
financial period -189 -10 867
Total equity 8 855 8 966 9 602
LIABILITIES
Non-current liabilities 3 663 163 3 663
Current liabilities 7 751 12 508 8 768
Total liabilities 11 414 12 671 12 431
TOTAL EQUITY AND
LIABILITIES 20 269 21 637 22 033
FINANCIAL PERFORMANCE
INDICATORS (IFRS) 1-3/2009 1-3/2008 1-12/2008
Net turnover MEUR 7,2 6,9 30,4
Change in net turnover 4,6 % 8,1 % 8,8 %
Operating result MEUR -0,2 0,1 1,5
% of turnover -2,6 % 0,7 % 4,8 %
Result before taxes MEUR -0,2 0,0 1,1
% of turnover -3,3 % -0,4 % 3,7 %
Equity ratio, % 43,7 41,4 43,6
Gearing, % 53,2 % 71,0 % 58,5 %
Gross investments in
non-current assets MEUR 0,1 0,4 0,9
Return on equity, % -8,5 % -0,4 % 9,0 %
Return on investment, % -5,1 % 1,4 % 9,0 %
Personnel at end of
period 245 261 268
Personnel average
for period 252 255 266
KEY INDICATORS PER SHARE
Earnings / share, e -0,02 0,00 0,07
Earnings / share,
e(diluted) -0,02 0,00 0,07
Equity / share, e 0,74 0,74 0,80
QUARTERLY KEY INDICATORS (MEUR)
2Q/07 3Q/07 4Q/07 1Q/08
Net turnover 7,14 5,86 8,55 6,89
Operating result 0,33 0,30 0,54 0,05
Result before taxes 0,29 0,24 0,45 -0,02
2Q/08 3Q/08 4Q/08 1Q/09
Net turnover 8,55 6,29 8,65 7,21
Operating result 0,37 0,38 0,66 -0,19
Result before taxes 0,28 0,30 0,58 -0,24
CASH FLOW STATEMENT (MEUR)
1-3/2009 1-3/2008 1-12/2008
Cash flow from business
operations 1,13 0,70 2,94
Cash flow from capital
expenditure -0,14 -0,34 -0,88
Cash flow from financing activities
Dividend distribution 0,00 0,00 -0,73
Own shares -0,08 -0,01 -0,26
Loan agreement -1,19 -0,44 -0,72
Cash flow from financing
activities -1,27 -0,45 -1,71
Change in cash and cash
equivalents -0,28 -0,09 0,35
TOTAL INVESTMENTS (TEUR)
1-3/2009 1-3/2008 1-12/2008
Continuing operations,
group total 139 385 920
LIABILITIES (MEUR) 31.3.2009 31.3.2008 31.12.2008
Company quorantee for
credit limits 1,18 1,18 1,18
Perfomance bonds 0,02 0,05 0,05
Lease contracts, machinery &
equipment 0,59 0,59 0,59
Lease liability,
premises 2,40 2,82 2,48
The Group has no liabilities from derivative instruments.
MAJOR SHAREHOLDERS 31.3.2009
Shares and votes
Number %
1. Saadetdin Ali 3 481 383 28,7 %
2. Aalto Seppo 1 662 206 13,7 %
3. Profiz Business Solution Oyj 1 327 925 10,9 %
4. TP-Yhtiöt Oy 513 380 4,2 %
5. Roininen Matti 331 300 2,7 %
6. Solteq Oyj 258 436 2,1 %
7. Hakamäki Jorma 228 430 1,9 %
8. Saadetdin Katiye 156 600 1,3 %
9. Kiiveri Jouko 118 280 1,0 %
10. Halmet Jarmo 105 500 0,9 %
10 largest shareholders total 8 183 440 67,4 %
Total of nominee-registered 84 026 0,7 %
Others 3 880 963 31,9 %
Total 12 148 429 100,0 %
STATEMENT OF CHANGES IN GROUP EQUITY (TEUR)
A=Share capital
B=Share issue
C=Company's own shares
D=Share premium account
E=Unrestricted equity fund
F=Retained earnings
G=Total
A B C D E F G
EQUITY 1.1.2008 1 002 64 0 18 7 213 1 422 9 719
Result for the period -10 -10
Total gains and losses -10 -10
Subscription issue 7 -64 57 0
Acquiring of own shares -14 -14
Dividend distribution -728 -728
EQUITY 31.3.2008 1 009 0 -14 75 7 213 684 8 966
EQUITY 1.1.2009 1 009 0 -255 75 7 213 1 560 9 602
Result for the period -189 -189
Total gains and losses -189 -189
Acquiring of own shares -82 -82
Dividend distribution -476 -476
EQUITY 31.3.2009 1 009 0 -337 75 7 213 895 8 855
Taxes corresponding to the result have been presented as taxes
for the period.
CALCULATION OF FINANCIAL RATIOS
Solvency ratio, in percentage
equity x 100
----------------------------------
balance sheet total - advances received
Gearing
interest bearing liabilities - cash,
bank balances and securities x 100
-------------------------------------------
equity
Return on Equity (ROE) in percentage
profit or loss before taxation - taxes x 100
----------------------------------------
equity
Profit from invested equity in percentage
profit or loss before taxation +
interest expenses and other financing expenses x 100
----------------------------------------
balance sheet total - non-interest bearing
liabilities
Earnings per
share
pre-tax result - taxes +/- minority interest
---------------------------------------------
diluted average share issue
corrected number of shares
Diluted earnings per share
diluted profit before taxation -
taxes +/- minority interest
----------------------------------------------
diluted average share issue
corrected number of shares
Equity per
share
equity
-----------------------
number of shares
Solteq Plc's financial information bulletins in 2009 have been
scheduled as follows:
- Interim report 1-6/2009 Wednesday 12.8.2009
- Interim report 1-9/2009 Wednesday 21.10.2009
More investor information on Solteq's website at www.solteq.com
Additional information:
Managing Director Hannu Ahola
Telephone +358 20 1444 211 or +358 40 8444 211
E-mail hannu.ahola@solteq.com
CFO Antti Kärkkäinen
Telephone +358 20 1444 393 or +358 40 8444 393
E-mail antti.karkkainen@solteq.com
Distribution:
NASDAQ OMX Helsinki
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