OLVI PLC Half-year report
Net sales grew as a result of strong demand and price increases - Profitability increased in the second quarter compared with the previous quarter
April-
- Net sales increased by 15.8% and were
EUR 195.4 (168.8) million. Sales volume increased by 9.8%. -
The adjusted operating result and the operating result increased to
EUR 28.8 (26.7) million. - With costs remaining high, relative profitability was lower than in the previous year. However, profitability improved markedly from the first quarter.
- A strong balance sheet and a solid financial position, with no net debt, enable the further development of the company.
January-
- Net sales increased by 19.2% and were
EUR 324.9 (272.7) million. Sales volume increased by 8.9%. -
The adjusted operating result was
EUR 38.8 (33.1) million, and the operating result wasEUR 26.6 (33.1) million. The operating result decreased because of a fine paid by the Belarusian subsidiary.
Near-term outlook
The Group's key figures
| 4-6/ 2023 | 4-6/ 2022 | Change, % /pp | 1-6/ 2023 | 1-6/ 2022 | Change, % / pp | 1-12/ 2022 |
Sales volume, Mltr | 305.7 | 278.4 | 9.8 | 509.0 | 467.2 | 8.9 | 956.1 |
Net sales, MEUR | 195.4 | 168.8 | 15.8 | 324.9 | 272.7 | 19.2 | 583.7 |
Gross profit, MEUR | 73.7 | 66.7 | 10.5 | 120.7 | 105.7 | 14.1 | 219.9 |
% of net sales | 37.7 | 39.5 |
| 37.1 | 38.8 |
| 37.7 |
Adjusted operating result, MEUR | 28.8 | 26.7 | 8.0 | 38.8 | 33.1 | 17.2 | 59.8 |
% of net sales | 14.7 | 15.8 |
| 11.9 | 12.1 |
| 10.2 |
Items affecting the comparability of the operating result, MEUR | 0.0 | 0.0 |
| -12.2 | 0.0 |
| -37.4 |
Operating result, MEUR | 28.8 | 26.7 | 8.0 | 26.6 | 33.1 | -19.6 | 22.4 |
% of net sales | 14.7 | 15.8 |
| 8.2 | 12.1 |
| 3.8 |
Adjusted profit for the period, MEUR | 22.9 | 19.4 | 18.2 | 27.5 | 24.9 | 10.3 | 44.9 |
% of net sales | 11.7 | 11.5 |
| 8.5 | 9.1 |
| 7.7 |
Profit for the period, MEUR | 22.9 | 19.4 | 18.2 | 15.3 | 24.9 | -38.6 | 7.5 |
% of net sales | 11.7 | 11.5 |
| 4.7 | 9.1 |
| 1.3 |
Earnings per share, EUR | 1.10 | 0.92 | 19.4 | 0.74 | 1.18 | -37.1 | 0.39 |
Investments, MEUR | 6.9 | 9.1 | -24.0 | 13.8 | 17.7 | -21.7 | 37.1 |
Equity per share, EUR |
|
|
| 12.91 | 14.45 | -10.7 | 13.49 |
Equity ratio, % |
|
|
| 49.1 | 53.7 | -4.6 | 57.5 |
Gearing, % |
|
|
| -10.1 | -16.8 | -6.7 | -20.3 |
Business development
CEO
April-
The prices of raw materials and packaging materials remained at a high level in the first half of the year, and salary increases entered into force in several markets. The cost of sales increased by 19.3%, and the increase continued to be higher than increase of net sales. Logistics costs remained at the first quarter's high level.
Profitability improved sequentially in the second quarter. Relative to net sales, the gross profit and the operating result improved as a result of price increases, the beginning of the season and the launch of new products. The Group's euro-denominated gross profit improved by 10.5% year-on-year. The relative gross profit decreased year-on-year and was 37.7% of net sales (39.5%). The adjusted operating result increased by 8.0% and was
The Group's strategy work progressed significantly in the second quarter, and an action plan is being prepared to further clarify the focus of operations and long-term growth targets and determine operating models to achieve the targets. The work has progressed well and will continue in order to concretise strategic projects in the third quarter. The updated strategy and its targets are planned to be published in the fourth quarter.
January-
The sales volume increased by 8.9% and net sales grew by 19.2% in the first half of the year. The market shares remained at a good level or continued to improve in many product categories. Compared with the end of 2022, the cost level of cost of sales increased in the first quarter and remained high in the second quarter. The cost of sales was
The adjusted operating result was
Segment-specific business development: April-
Price increases improved profitability in
The sales volume of Finnish operations increased by 6.7%, and their net sales grew by 15.3%. Retail sales growth continued to be strong. Sales also increased in the hotel and restaurant channel (HoReCa). Retail prices were increased from March onwards, but the costs remained high. Salary increases and general inflation are among the factors increasing costs in 2023. The Finnish operations' operating result was
The operating result in the
The sales volume in the
The operating result increased by 34.8% to
Business operations grew in
The sales volume increased by 17.9%, and net sales grew by 5.3%. The increase in the sales volume was supported by the favourable development of market shares in several product categories. Compared with the previous year, net sales in the local currency increased by 21.8%, meaning that the weaker exchange rate had a significant impact on euro-denominated net sales.
The operating result was
Investments
Sustainability
In recognition of the long-term development of sustainability in operations,
Environmental sustainability
The climate emissions calculation for 2022 has been completed. Compared with the previous year,
to operational development, the emission intensity has been reduced through lower emissions from packaging materials and transport.
To further develop operations,
Social sustainability
In social sustainability,
Good governance
To promote good governance,
Seasonal nature of operations
The nature of the Group's business operations involves seasonal fluctuation. The net sales and operating result of the geographical reporting segments are not accumulated steadily. Instead, they fluctuate in accordance with the special characteristics of the seasons of the year and product seasons.
Sales development
Sales volume, Mltr | 4-6/ 2023 | 4-6/ 2022 | Change, % | 1-6/ 2023 | 1-6/ 2022 | Change, % |
80.1 | 75.1 | 6.7 | 138.9 | 130.7 | 6.3 | |
135.7 | 128.4 | 5.7 | 224.0 | 218.3 | 2.6 | |
105.9 | 89.8 | 17.9 | 171.8 | 144.0 | 19.3 | |
Eliminations | -16.0 | -14.9 |
| -25.7 | -25.8 |
|
Total | 305.7 | 278.4 | 9.8 | 509.0 | 467.2 | 8.9 |
The Group's net sales in January-June increased by 19.2% and were
Net sales, MEUR | 4-6/ 2023 | 4-6/ 2022 | Change, % | 1-6/ 2023 | 1-6/ 2022 | Change, % |
68.0 | 58.9 | 15.3 | 116.3 | 100.5 | 15.7 | |
94.4 | 76.1 | 24.2 | 153.1 | 124.7 | 22.7 | |
44.1 | 41.9 | 5.3 | 72.9 | 61.1 | 19.3 | |
Eliminations | -11.1 | -8.1 |
| -17.3 | -13.6 |
|
Total | 195.4 | 168.8 | 15.8 | 324.9 | 272.7 | 19.2 |
Financial performance
The Group's operating result in April-June was
Adjusted operating result, MEUR | 4-6/ 2023 | 4-6/ 2022 | Change, % | 1-6/ 2023 | 1-6/ 2022 | Change, % |
8.0 | 8.6 | -7.7 | 9.7 | 11.3 | -14.3 | |
9.8 | 7.3 | 34.8 | 12.3 | 9.6 | 28.0 | |
11.4 | 11.3 | 1.6 | 17.5 | 13.1 | 34.1 | |
Eliminations | -0.4 | -0.5 |
| -0.7 | -0.9 |
|
Total | 28.8 | 26.7 | 8.0 | 38.8 | 33.1 | 17.2 |
Operating result, MEUR | 4-6/ 2023 | 4-6/ 2022 | Change, % | 1-6/ 2023 | 1-6/ 2022 | Change, % |
8.0 | 8.6 | -7.7 | 9.7 | 11.3 | -14.3 | |
9.8 | 7.3 | 34.8 | 12.3 | 9.6 | 28.0 | |
11.4 | 11.3 | 1.6 | 5.4 | 13.1 | -59.0 | |
Eliminations | -0.4 | -0.5 |
| -0.7 | -0.9 |
|
Total | 28.8 | 26.7 | 8.0 | 26.6 | 33.1 | -19.6 |
The Group's profit after taxes in January-June was
Earnings per share calculated from the profit attributable to the owners of the parent company were
Financial position and the balance sheet
Cash assets stood at
Personnel
In January-June,
| 4-6/ 2023 | 4-6/ 2022 | Change, % | 1-6/ 2023 | 1-6/ 2022 | Change, % |
483 | 476 | 1.5 | 448 | 441 | 1.6 | |
1,098 | 1,067 | 2.9 | 1,069 | 1,027 | 4.1 | |
865 | 850 | 1.8 | 857 | 849 | 0.9 | |
Total | 2,446 | 2,393 | 2.2 | 2,374 | 2,317 | 2.5 |
Board of Directors and management
No changes took place in
Other events during the review period
Changes in the Group structure
On
Business risks and their management
Impacts of the war in
The war in
Consumer prices have risen rapidly, especially in
Because of the geopolitical situation, uncertainty is related to the Belarusian business segment and the stability and predictability of the operating environment. Beginning in
Preparedness
A more detailed description of the normal risks related to business operations is provided in
Events after the review period
Board of Directors
Webcast
The press conference will be held in Finnish.
A recording of the webcast will become available on the company's website at https://www.olvigroup.fi/en/releases-and-publications/financial-releases/
More information:
TABLES:
- Consolidated statement of comprehensive income, Table 1
- Balance sheet, Table 2
- Statement of changes in equity, Table 3
- Cash flow statement, Table 4
- Notes to the half-year report bulletin, Table 5
DISTRIBUTION:
Key media outlets
www.olvi.fi
OLVI GROUP |
|
|
|
| TABLE 1 |
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME |
|
|
|
| |
|
|
|
|
| |
| 4-6/2023 | 4-6/2022 | 1-6/2023 | 1-6/2022 | 1-12/2022 |
|
|
|
|
|
|
Gross sales | 401,925 | 354,120 | 680,778 | 587,875 | 1,253,782 |
Excise taxes and other adjustments | -206,497 | -185,364 | -355,887 | -315,211 | -670,079 |
Net sales | 195,428 | 168,756 | 324,891 | 272,664 | 583,703 |
|
|
|
|
|
|
Cost of sales | -121,689 | -102,028 | -204,204 | -166,925 | -363,816 |
Gross profit | 73,739 | 66,728 | 120,687 | 105,739 | 219,887 |
|
|
|
|
|
|
Logistics, sales and marketing expenses | -35,379 | -31,660 | -62,320 | -55,712 | -120,997 |
Administrative expenses | -9,272 | -8,567 | -19,454 | -17,371 | -42,415 |
Other operating income and expenses | -294 | 161 | -12,337 | 417 | -34,111 |
Operating result | 28,794 | 26,662 | 26,576 | 33,073 | 22,364 |
|
|
|
|
|
|
Financial income | 380 | -202 | 422 | 243 | 1,593 |
Financial expenses | -470 | -882 | -807 | -1,185 | -5,628 |
Share of the profit of associated companies and joint ventures | 0 | 0 | 0 | 0 | 45 |
Profit before tax | 28,704 | 25,578 | 26,191 | 32,131 | 18,374 |
|
|
|
|
|
|
Income taxes | -5,756 | -6,168 | -10,910 | - 7,236 | -10,848 |
PROFIT FOR THE PERIOD | 22,948 | 19,410 | 15,281 | 24,895 | 7,526 |
|
|
|
|
|
|
Other items of comprehensive income that may be later reclassified to profit or loss: |
|
|
|
|
|
Translation differences related to foreign subsidiaries | 435 | 13,858 | -3,392 | 5,809 | 1,638 |
Income taxes related to items | 0 | -188 | 0 | -66 | 0 |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | 23,383 | 33,080 | 11,889 | 30,638 | 9,164 |
|
|
|
|
|
|
Distribution of the profit for the period: |
|
|
|
|
|
- Owners of the parent company | 22,687 | 19,013 | 15,388 | 24,497 | 7,977 |
- Non-controlling interest | 261 | 397 | -107 | 398 | -451 |
|
|
|
|
|
|
Distribution of comprehensive income for the period: |
|
|
|
|
|
- Owners of the parent company | 23,248 | 32,250 | 12,269 | 30,060 | 9,674 |
- Non-controlling interest | 135 | 830 | -380 | 578 | -510 |
|
|
|
|
|
|
Earnings per share calculated from profit attributable to owners of the parent company, EUR |
|
|
|
|
|
- Undiluted | 1.10 | 0.92 | 0.74 | 1.18 | 0.39 |
- Diluted | 1.10 | 0.92 | 0.74 | 1.18 | 0.39 |
OLVI GROUP |
|
| TABLE 2 |
BALANCE SHEET |
|
|
|
ASSETS |
|
|
|
Non-current assets |
|
|
|
Tangible assets | 209,796 | 238,431 | 208,165 |
22,204 | 26,276 | 22,204 | |
Other intangible assets | 11,012 | 12,221 | 10,972 |
Holdings in associated companies and joint ventures | 987 | 980 | 1,025 |
Other investments | 1,043 | 888 | 1,046 |
Loans receivable and other long-term receivables | 3,061 | 2,359 | 1,377 |
Deferred tax assets | 2,445 | 1,667 | 2,569 |
Total non-current assets | 250,548 | 282,822 | 247,358 |
|
|
|
|
Current assets |
|
|
|
Inventories | 84,277 | 73,333 | 70,891 |
Accounts receivable and other receivables | 178,205 | 147,515 | 109,712 |
Income tax receivables | 132 | 22 | 506 |
Cash and cash equivalents | 32,482 | 59,691 | 61,207 |
Total current assets | 295,096 | 280,561 | 242,316 |
TOTAL ASSETS | 545,644 | 563,383 | 489,674 |
|
|
|
|
EQUITY AND LIABILITIES |
|
|
|
Equity attributable to owners of the parent company |
|
|
|
Share capital | 20,759 | 20,759 | 20,759 |
Other reserves | 1,092 | 1,092 | 1,092 |
Fair value reserve | 295 | 295 | 295 |
-884 | -1,075 | -1,079 | |
Translation differences | -55,066 | -48,164 | -52,030 |
Retained earnings | 300,955 | 326,092 | 310,194 |
| 267,151 | 298,998 | 279,231 |
Non-controlling interest | 566 | 3,798 | 2,514 |
Total equity | 267,717 | 302,796 | 281,745 |
|
|
|
|
Non-current liabilities |
|
|
|
Financial liabilities | 2,044 | 2,001 | 1,983 |
Other liabilities | 826 | 3,999 | 3,667 |
Deferred tax liabilities | 13,141 | 13,765 | 13,466 |
|
|
|
|
Current liabilities |
|
|
|
Financial liabilities | 3,413 | 6,967 | 2,164 |
Accounts payable and other payables | 252,067 | 228,689 | 186,362 |
Income tax liability | 6,436 | 5,166 | 287 |
Total liabilities | 277,927 | 260,587 | 207,929 |
TOTAL EQUITY AND LIABILITIES | 545,644 | 563,383 | 489,674 |
OLVI GROUP |
|
|
| TABLE 3 | |||||
STATEMENT OF CHANGES IN EQUITY |
|
|
|
|
| ||||
Share capital | Other reserves | Fair value reserve | Reserve for treasury shares | Translation differences | Earnings | Attributable to non-controlling interest | Total | ||
Equity | 20,759 | 1,092 | 295 | -1,079 | -52,030 | 310,194 | 2,514 | 281,745 | |
Comprehensive income: |
|
|
|
|
|
|
|
| |
Profit for the period |
|
|
|
| 15,388 | -107 | 15,281 | ||
Other items of comprehensive income: |
|
|
|
|
|
| |||
Translation differences |
|
|
| -3,119 |
| -273 | -3,392 | ||
Total comprehensive income for the period |
|
| -3,119 | 15,388 | -380 | 11,889 | |||
Business transactions with shareholders: |
|
|
|
|
|
| |||
Dividend payment |
|
|
|
|
| -24,818 | -382 | -25,200 | |
Share-based incentives, value of work performance |
|
| 337 |
| 337 | ||||
Acquisition of treasury shares |
| -604 |
|
|
| -604 | |||
Issue of treasury shares to personnel | 799 |
| -1,361 |
| -562 | ||||
Adjustment for previous periods |
|
| 83 | 52 | -23 | 112 | |||
Business transactions with shareholders, total |
| 195 | 83 | -25,790 | -405 | -25,917 | |||
Changes in holdings in subsidiaries: |
|
|
|
|
|
| |||
Change in non-controlling interest |
|
| 1,163 | -1,163 | 0 | ||||
Changes in holdings in subsidiaries, total |
|
| 1,163 | -1,163 | 0 | ||||
Equity | 20,759 | 1,092 | 295 | -884 | -55,066 | 300,955 | 566 | 267,717 | |
Share capital | Other reserves | Fair value reserve | Reserve for treasury shares | Translation differences | Earnings | Attributable to non-controlling interest | Total | ||
Equity | 20,759 | 1,092 | 295 | -438 | -53,728 | 326,016 | 3,627 | 297,624 | |
Comprehensive income: |
|
|
|
|
|
|
|
| |
Profit for the period |
|
|
|
| 24,497 | 398 | 24,895 | ||
Other items of comprehensive income: |
|
|
|
|
|
| |||
Translation differences |
|
|
| 5,629 |
| 180 | 5,809 | ||
Income taxes related to items |
|
|
| -66 |
|
| -66 | ||
Total comprehensive income for the period |
|
| 5,563 | 24,497 | 578 | 30,638 | |||
Business transactions with shareholders: |
|
|
|
|
|
| |||
Dividend payment |
|
|
|
|
| -24,855 | -175 | -25,030 | |
Acquisition of treasury shares |
|
| -637 |
|
|
| -637 | ||
Share-based incentives, value of work performance |
|
| 518 |
| 518 | ||||
Adjustment for previous periods |
|
|
| -84 |
| -84 | |||
Business transactions with shareholders, total |
| -637 |
| -24,421 | -175 | -25,233 | |||
Changes in holdings in subsidiaries: |
|
|
|
|
|
| |||
Acquisition of shares from non-controlling interest |
|
| -232 |
| -232 | ||||
Change in non-controlling interest |
|
| 232 | -232 | 0 | ||||
Changes in holdings in subsidiaries, total |
|
| 0 | -232 | -232 | ||||
Equity | 20,759 | 1,092 | 295 | -1,075 | -48,165 | 326,092 | 3,798 | 302,796 | |
OLVI GROUP |
|
| TABLE 4 |
CASH FLOW STATEMENT |
|
|
|
|
|
| |
| 1-6/2023 | 1-6/2022 | 1-12/2022 |
|
|
|
|
Profit for the period | 15,281 | 24,896 | 7,526 |
Adjustments: |
|
|
|
Depreciation and impairment | 12,160 | 12,533 | 64,532 |
Other adjustments | 12,147 | 8,568 | 14,509 |
Change in net working capital: |
|
|
|
Change in accounts receivable and other receivables | -71,820 | -47,052 | -9,578 |
Change in inventories | -15,245 | -13,310 | -12,349 |
Change in accounts payable and other liabilities | 51,762 | 44,246 | 16,536 |
Interest paid | -189 | -544 | -449 |
Interest received | 188 | 140 | 292 |
Dividends received | 3 | 5 | 5 |
Taxes paid | -4,361 | -3,446 | -13,861 |
Cash flow from operating activities (A) | -74 | 26,036 | 67,163 |
|
|
|
|
Investments in tangible and intangible assets | -14,262 | -17,835 | -37,392 |
Proceeds from the sale of tangible and intangible assets | 311 | 377 | 976 |
Acquisition of shares from non-controlling interest | 0 | -378 | -378 |
Expenditure on other investments | 0 | 0 | -163 |
Dividends received | 41 | 38 | 38 |
Cash flow from investing activities (B) | -13,910 | -17,798 | -36,919 |
|
|
|
|
Loan withdrawals | 2,822 | 6,864 | 11,351 |
Repayment of loans | -2,351 | -1,125 | -11,674 |
Acquisition of treasury shares | -604 | -637 | -641 |
Dividends paid | -12,581 | -12,587 | -25,268 |
Cash flow from financing activities (C) | -12,714 | -7,485 | -26,232 |
|
|
|
|
Increase (+) / decrease (-) in cash and cash equivalents (A+B+C) | -26,698 | 753 | 4,012 |
|
|
|
|
Cash and cash equivalents 1 Jan | 61,207 | 58,741 | 58,741 |
Impact of exchange rate changes | -2,027 | 197 | -1,546 |
Cash and cash equivalents 30 Jun / 31 Dec | 32,482 | 59,691 | 61,207 |
OLVI GROUP TABLE 5
NOTES TO THE HALF-YEAR REPORT
The half-year report has been prepared in accordance with IAS 34 Interim Financial Reporting, applying the same accounting principles that were applied to the 2022 financial statements (
The figures in the half-year report are presented in thousands (1,000) of euros. For presentation, individual figures and totals have been rounded up to full thousands, which causes rounding differences in the totals. Exchange rates obtained from the
1. SEGMENT INFORMATION |
|
| |||
SEGMENTS' NET SALES AND PROFIT FOR THE PERIOD 1-6/2023 |
| ||||
| Eliminations |
Group | |||
|
|
|
|
|
|
INCOME |
|
|
|
|
|
External sales | 115,719 | 136,421 | 72,751 |
| 324,891 |
Beverage sales | 114,715 | 136,421 | 72,751 |
| 323,887 |
Equipment services | 1,004 | 0 | 0 |
| 1,004 |
Internal sales | 537 | 16,632 | 132 | -17,302 | 0 |
Total net sales | 116,257 | 153,053 | 72,883 | -17,302 | 324,891 |
|
|
|
|
|
|
Total profit for the period | 27,196 | 8,835 | -3,219 | -17,531 | 15,281 |
| |||||
SEGMENTS' NET SALES AND PROFIT FOR THE PERIOD 1-6/2022 |
| ||||
| Eliminations |
Group | |||
|
|
|
|
|
|
INCOME |
|
|
|
|
|
External sales | 99,840 | 111,913 | 60,911 |
| 272,664 |
Beverage sales | 99,031 | 111,913 | 60,911 |
| 271,855 |
Equipment services | 809 | 0 | 0 |
| 809 |
Internal sales | 664 | 12,824 | 198 | -13,686 | 0 |
Total net sales | 100,504 | 124,737 | 61,109 | -13,686 | 272,664 |
|
|
|
|
|
|
Total profit for the period | 29,170 | 6,164 | 10,575 | -21,014 | 24,895 |
2. RELATED PARTY TRANSACTIONS | |||
| |||
Management's employee benefits | |||
| |||
Board members' and the CEO's salaries and other short-term employee benefits | |||
1-6/2023 | 1-6/2022 | 1-12/2022 | |
CEO | 178 | 407 | 594 |
Chair of the Board | 35 | 36 | 73 |
Other Board members
| 73 | 86 | 172 |
Total | 286 | 529 | 839 |
|
|
|
| % | |
|
|
|
Series A shares, number of shares | 16,989,976 | 82.0 |
Series K shares, number of shares | 3,732,256 | 18.0 |
Total | 20,722,232 | 100.0 |
|
|
|
Total number of votes, Series A shares | 16,989,976 | 18.5 |
Total number of votes, Series K shares | 74,645,120 | 81.5 |
Total number of votes | 91,635,096 | 100.0 |
|
|
|
Votes per Series A share | 1 |
|
Votes per Series K share | 20 |
|
The registered share capital totalled
A dividend of
4. SHARE-BASED REWARDS
The 2021-2022 Matching Share Plan for key personnel ended at
The costs related to incentive plans totalled
5. TREASURY SHARES
In accordance with the share plan,
At the end of the review period,
6. NUMBER OF SHARES | 1-6/2023 | 1-6/2022 | 1-12/2022 |
|
|
|
|
- Average | 20,688,243 | 20,708,869 | 20,700,783 |
- At the end of the period | 20,693,440 | 20,692,828 | 20,692,828 |
7. TRADING IN SERIES A SHARES ON THE NASDAQ |
|
| |
| 1-6/2023 | 1-6/2022 | 1-12/2022 |
Trading in Series A shares in | 804,864 | 1,438,181 | 2,351,044 |
Total value of trading, | 24,171 | 52,513 | 82,916 |
Proportion of the trading out of the total number of Series A shares, % | 4.7 | 8.5 | 13.8 |
|
|
|
|
Average share price, EUR | 30.03 | 36.58 | 35.31 |
Closing price, EUR | 29.00 | 32.35 | 33.15 |
Highest price, EUR | 34.95 | 52.00 | 52.00 |
Lowest price, EUR | 26.80 | 29.40 | 29.40 |
8. FOREIGN AND NOMINEE-REGISTERED HOLDINGS | ||||||
| Book-entry shares | Number of votes | Shareholders | |||
| number | % | number | % | number | % |
Finnish, total | 16,706,025 | 80.62 | 87,618,889 | 95.62 | 22,650 | 99.60 |
Foreign, total | 67,314 | 0.32 | 67,314 | 0.07 | 79 | 0.35 |
Nominee-registered (foreign), total | 441,492 | 2.13 | 441,492 | 0.48 | 6 | 0.03 |
Nominee-registered (Finnish), total | 3,507,401 | 16.93 | 3,507,401 | 3.83 | 4 | 0.02 |
Total | 20,722,232 | 100.00 | 91,635,096 | 100.00 | 22,739 | 100.00 |
9. LARGEST SHAREHOLDERS |
|
|
|
| ||
| Series K | Series A | Total | % | Number of votes | % |
1 Olvi Foundation | 2,363,904 | 890,613 | 3,254,517 | 15.71 | 48,168,693 | 52.57 |
2 The estate of Heikki Hortling* | 903,488 | 103,280 | 1,006,768 | 4.86 | 18,173,040 | 19.83 |
3 Timo Einari Hortling | 212,888 | 49,152 | 262,040 | 1.26 | 4,306,912 | 4.70 |
4 Marit Hortling-Rinne | 149,064 | 14,234 | 163,298 | 0.79 | 2,995,514 | 3.27 |
5 | 2,003,548 | 2,003,548 | 9.67 | 2,003,548 | 2.19 | |
6 | 1,446,265 | 1,446,265 | 6.98 | 1,446,265 | 1.58 | |
7 | 828,075 | 828,075 | 4.00 | 828,075 | 0.90 | |
8 | 683,000 | 683,000 | 3.30 | 683,000 | 0.75 | |
9 Pia Johanna Hortling | 23,388 | 26,016 | 49,404 | 0.24 | 493,776 | 0.54 |
10 Jens Einari Hortling | 23,388 | 16,216 | 39,604 | 0.19 | 483,976 | 0.53 |
Other | 56,136 | 10,929,577 | 10,985,713 | 53.00 | 12,052,297 | 13.14 |
Total | 3,732,256 | 16,989,976 | 20,722,232 | 100.00 | 91,635,096 | 100.00 |
* The shareholding includes shares held by the shareholder and the entities controlled by them. |
10. PROPERTY, PLANT AND EQUIPMENT |
| ||||
|
|
| |||
| 1-6/2023 | 1-6/2022 | 1-12/2022 | ||
Opening balance | 208,165 | 229,356 | 229,356 | ||
Additions | 13,207 | 17,189 | 37,286 | ||
Deductions and transfers | -463 | -92 | -152 | ||
Depreciation and impairment | -10,915 | -10,955 | -58,206 | ||
Exchange rate differences | -198 | 2,932 | -119 | ||
Total | 209,796 | 238,430 | 208,165 | ||
|
|
|
| ||
|
|
| |||
| |||||
|
|
|
| ||
Pledged assets and contingent liabilities |
|
|
| ||
On the company's own behalf | 4,356 | 10,004 | 2,608 | ||
|
|
|
| ||
Lease and rental liabilities: |
|
|
| ||
Maturing in less than a year | 1,315 | 1,294 | 1,337 | ||
Maturing within 1-5 years | 1,395 | 1,399 | 1,283 | ||
Total lease and rental liabilities | 2,710 | 2,693 | 2,620 | ||
|
|
|
| ||
Other liabilities | 67 | 60 | 67 | ||
12. VALUATION OF THE BELARUSIAN BUSINESS SEGMENT
For the 2022 financial statements (
13. CALCULATION PRINCIPLES FOR
In its summary of key ratios (page 1), the Group presents key ratios directly derived from the consolidated income statement (net sales, operating result, profit for the period and their proportions of net sales, as well as earnings per share). (Earnings per share = Profit for the period attributable to owners of the parent company / Average number of shares during the period, adjusted for share issues).
In addition to its IFRS-based consolidated financial statements,
The Group has applied the
The Group presents sales volume data in millions of litres as an Alternative Performance Measure that supports net sales. Sales volume is an important and widely used indicator in the industry that describes the scope of operations. To improve comparability between reporting periods, the Group also presents the adjusted operating result and the adjusted profit for the period as Alternative Performance Measures. The adjusted operating result is calculated by deducting significant items affecting comparability from net sales. The corresponding items have been deducted from the profit for the period when calculating the adjusted profit for the period.
Investments consist of increases in fixed assets, excluding increases under IFRS 16.
Earnings per share = Equity attributable to owners of the parent company / Number of shares at the end of the period, adjusted for share issues.
Equity ratio, % = 100 * (Equity attributable to owners of the parent company + non-controlling interest) / (Balance sheet total).
Gearing, % = 100 * (Interest-bearing liabilities - Cash in hand and at bank) / (Equity attributable to owners of the parent company + non-controlling interest).
https://news.cision.com/olvi-oyj/r/olvi-group-s-half-year-report-january-june-2023,c3816293
https://mb.cision.com/Main/14712/3816293/2224187.pdf
(c) 2023 Cision. All rights reserved., source