The company's profitability improved clearly in the second quarter
April-June
· Revenue totaled
· EBITDA was
· Operating profit was
· Earnings per share was
· The revenue was 2.9 percent higher than in the comparison period, while the comparable revenue grew by 7.8 percent.
January-June
· Revenue totaled
· EBITDA was
· Operating profit was
· Earnings per share was
·
· Net cash flow from operating activities was
· The revenue was 3.9 percent higher than in the comparison period, while the comparable revenue grew by 9.7 percent.
· 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
· Profit guidance for 2020:
Key figures
4-6/202 4-6/201 Change 1-6/202 1-6/201 Change 1-12/20 Rolling
-% 0 9 % 19 12mos
0 9
Revenue, 15,080 14,660 2.9 30,754 29,590 3.9 58,291 59,455
TEUR
Comparable 15,080 13,992 7.8 30,754 28,041 9.7 55,293 58,006
revenue,
TEUR
EBITDA, 2,710 1,572 72.3 4,584 4,027 13.8 9,714 10,271
TEUR
Comparable 2,736 1,522 79.8 4,774 3,653 30.7 6,582 7,704
EBITDA,
TEUR
Operating 1,481 571 159.3 2,197 2,101 4.6 5,711 5,808
profit,
TEUR
Comparable 1,507 521 189.5 2,387 1,726 38.3 2,579 3,240
operating
profit,
TEUR
Profit for 779 131 494.5 819 941 -13.0 2,803 2,681
the
financial
period,
TEUR
Earnings 0.04 0.01 491.3 0.04 0.05 -13.5 0.15 0.14
per
share, EUR
Operating 9.8 3.9 7.1 7.1 9.8 9.8
profit,
%
Comparable 10.0 3.7 7.8 6.2 4.7 5.6
operating
profit,
%
Equity 33.1 30.3 32.0 34.7
ratio, %
CEO
The company's profitability improved clearly in the second quarter: operating profit improved, year-on-year, by 159.3 percent, standing at
The company has been closely following and assessing the impact of the COVID-19 pandemic on its business. So far, the pandemic has had no negative effects on the company on the whole. The good performance in the review period was based on orders secured during the year before and the capability to deliver in key business areas. Growth was also driven by successful sales efforts in the first half of 2020. Significant new customer projects, especially in the energy sector, balanced lower sales in the travel, restaurant and leisure sectors that were affected by the pandemic. Good performance in the second quarter was also improved by the streamlining measures taken earlier this year and the resulting cost savings.
To ensure a going concern and sufficient funding, the company initiated a written procedure on
Profit guidance 2020
Going concern principle
On
The prerequisite of going concern was to rearrange financing before the original maturity date of the current bond. The procedure ended successfully. Owing to the prevailing financial market situation, the company considered it prudent to request a 12-month extension to the maturity date. The company's
The company's operations are on a solid foundation and it is the management's view that the company has the capacity to overcome the COVID-19 pandemic's negative impacts on its business operations. On this basis, the management expects operations to continue, with only a low risk of inadequate funding.
This Half-Year Report was drawn up under the going concern principle, taking account of the financial restructuring either already carried out or pending.
Attachments:
Solteq Plc Half-Year Report
Distribution:
NASDAQ OMX Helsinki
Key media
www.solteq.com
Further information:
CEO
Tel. +358 50 5578 111
Email:olli.vaatainen@solteq.com
CFO
Tel: +358 40 701 0338
Email: kari.lehtosalo@solteq.com
https://news.cision.com/solteq/r/solteq-plc-s-half-year-report-january-1---june-30--2020,c3167491
https://mb.cision.com/Main/10667/3167491/1290329.pdf
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