HELSINKI, Finland, Aug. 13, 2019 /PRNewswire/ -- Solteq Plc Stock
Exchange Bulletin 13.8.2019 at
8.00 am
International subsidiaries grew
April–June
- Revenue totaled 14,660 thousand
euros (14,232).
- EBITDA was 1,572 thousand euros
(629).
- Operating profit was 571 thousand
euros (24).
- The implementation of IFRS 16 -standard improved EBITDA by
458 thousand euros and the operating
profit by 45 thousand euros during
the second quarter.*
- Earnings per share was 0.01 euros
(-0.02).
January–June
- Revenue totaled 29,590 thousand
euros (29,103).
- EBITDA was 4,027 thousand euros
(2,553).
- Operating profit was 2,101 thousand
euros (1,329).
- The implementation of IFRS 16 -standard improved EBITDA by
917 thousand euros and the operating
profit by 91 thousand euros during
the review period.*
- Earnings per share was 0.05 euros
(0.02).
- Solteq Group's equity ratio was 30.3 percent (32.4).
- The Group's equity ratio excluding the impact from adopting the
IFRS 16 -standard would have been 32.7 percent during the review
period.*
- Net cash flow from operating activities was 1,939 thousand euros (2,507).
- The revenue was 1.7 percent higher than in the comparison
period. Continuous services accounted for approximately one third
of the revenue.
- The company invested strongly in future growth by focusing on
the development of our own cloud-based software products and
services. During the review period the product development
investments amounted to EUR 2.1
million (0.9).
*Solteq Group implemented the IFRS
16 Leases-standard effective from January 1, 2019. The new standard was implemented
using the modified retrospective approach, in which the comparative
figures for prior financial periods were not restated.
Key Figures
|
4-6/2019
|
4-6/2018
|
Change-%
|
1-6/2019
|
1-6/2018
|
Change-%
|
1-12/2018
|
Rolling
12mos
|
|
|
|
|
|
|
|
|
|
|
Revenue,
TEUR
|
14,660
|
14,232
|
3.0
|
29,590
|
29,103
|
1.7
|
56,867
|
57,354
|
|
EBITDA,
TEUR
|
1,572
|
629
|
149.9
|
4,027
|
2,553
|
57.7
|
4,766
|
6,240
|
|
Adjusted EBITDA,
TEUR
|
1,634
|
758
|
115.6
|
4,099
|
2,668
|
53.7
|
5,417
|
6,848
|
|
Operating profit,
TEUR
|
571
|
24
|
2,293.7
|
2,101
|
1,329
|
58.1
|
2,466
|
3,238
|
|
Adjusted operating
profit, TEUR
|
633
|
153
|
314.5
|
2,173
|
1,444
|
50.5
|
3,117
|
3,846
|
|
Profit for the
financial period, TEUR
|
131
|
-305
|
142.9
|
941
|
353
|
166.9
|
356
|
944
|
|
Earnings per share,
EUR
|
0.01
|
-0.02
|
140.6
|
0.05
|
0.02
|
161.1
|
0.02
|
0.05
|
|
Operating profit,
%
|
3.9
|
0.2
|
|
7.1
|
4.6
|
|
4.3
|
5.6
|
|
Adjusted operating
profit, %
|
4.3
|
1.1
|
|
7.3
|
5.0
|
|
5.5
|
6.7
|
|
Equity ratio,
%
|
|
|
|
30.3
|
32.4
|
|
32.4
|
30.3
|
CEO Olli Väätäinen:
International subsidiaries grew
The Solteq Group's revenue was 14.7
million euros in the second quarter of 2019, an increase of
3.0%. Approximately one fifth of revenue originated from outside
Finland. The revenue of the
international subsidiaries grew significantly. Continuous services
accounted for approximately one third of the revenue. The company's
own software products and the related services accounted for
approximately one-third and digital services approximately
two-thirds of the revenue.
The EBITDA for the second quarter was 1.6
million euros and operating profit 0.6 million euros. The operating profit increased
by 0.5 million euros on a comparable
basis, considering the impact of the implementation of IFRS 16
-standard.
Solteq continued to invest significantly in the development of
its own cloud-based software products and services. Customer
feedback related to the developed software products has been
positive. The product development investment was 1.1 million euros in the second quarter. We
invested 0.6 million euros into
product development in the second quarter last year. The product
development investments are estimated to amount to 3.5 million euros by the end of the year.
The Group's order intake continued to develop positively during
the second quarter, and it was clearly better than in the second
quarter of last year. The business outlook has remained unchanged,
and the company's profitability is expected to develop
positively.
Profit guidance 2019
Solteq Group's operating profit is expected to grow clearly
compared to the financial year 2018.
Attachments
Solteq Plc Half-year Report 1 Jan – 30
Jun 2019
Further information
Olli Väätäinen, CEO
tel +358-50-5578-111
e-mail olli.vaatainen@solteq.com
Martti Nurminen, CFO
tel. +358-40-751-7194
e-mail martti.nurminen@solteq.com
Distribution
NASDAQ OMX Helsinki
Key media
www.solteq.com
Solteq in brief
Solteq is a Nordic IT service provider
and software house that specializes in digital business solutions
and vertical software markets.
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/solteq/r/solteq-plc-half-year-report-1-january---30-june-2019,c2878101
The following files are available for download:
|
https://mb.cision.com/Main/10667/2878101/1089112.pdf
|
Half-Year Report Q2
2019
|