The figures in parentheses refer to the corresponding period in the previous year unless otherwise stated.
Q3/2021: An excellent quarter driven by very strong sales
July–September 2021
- Net sales were
EUR 19.4 (15.8) million, an increase of 22.7% - The exchange rate-adjusted net sales growth was 20.6%
- In particular, very strong growth in sales of fundus imaging devices in
Europe andthe United States contributed to the favorable business development - Operating profit was
EUR 5.9 (3.6) million, or 30.7% of net sales, an increase of 63.9%. The1.9-million-euro Cutica impairment in the comparable period had a negative impact on the comparable EBIT. Comparable operating profit adjusted with the Cutica impairment wasEUR 5.6 million - EBITDA was
EUR 6.7 (6.2) million, up by 8.1% - Cash flow from operations totaled
EUR 5.8 (6.5) million. Cash flow was impacted by Oculo's development activities and changes in working capital - Undiluted earnings per share were
EUR 0.175 (0.111) Revenio updated its financial guidance for 2021 in August
January–September 2021
- Net sales were
EUR 55.0 (41.4) million, an increase of 32.9% - The exchange rate-adjusted net sales growth was 33.9%
- Adjusted with non-recurring acquisition costs of
EUR 0.7 million , the operating profit for the review period wasEUR 15.7 million , while the operating profit for the reference period, adjusted with theEUR 1.9 million impairment of Cutica, amounted toEUR 11.4 million . In relation to the adjusted operating profit for the reference and reporting period, operating profit grew by 37.0% in the reporting period - EBITDA was
EUR 17.2 (13.4) million, an increase of 28.1%. EBITDA adjusted for theEUR 0.7 million non-recurring, acquisition-related costs amounted toEUR 17.8 million , or 32.4% of net sales, up by 33.2% - The acquisition of the
Australia -based Oculo business was completed in April. Oculo is an eye care-focused software platform combining clinical communication, telehealth, remote patient monitoring and data analytics capabilities. Expenses for operational development of Oculo will affect the Group’s relative profitability in 2021 and 2022 - Cash flow from operations totaled
EUR 10.5 (9.1) million - Undiluted earnings per share were
EUR 0.446 (0.283) - The Annual General Meeting was held on
March 17, 2021 . The dividend was confirmed asEUR 0.32 (0.30) Revenio 's updated strategy focusing on clinical eye care solutions was presented at Capital Markets Day in March
Key consolidated figures, EUR million
7-9/2021 | 7-9/2020 | Change, % | 1-9/2021 | 1-9/2020 | Change, % | |
Net sales | 19.4 | 15.8 | 22.7 | 55.0 | 41.4 | 32.9 |
Gross margin | 13.9 | 11.4 | 21.9 | 38.9 | 29.7 | 31.1 |
Gross margin - % | 71.7 | 72.2 | -0.5 | 70.8 | 71.8 | -1.0 |
EBITDA | 6.7 | 6.2 | 8.1 | 17.2 | 13.4 | 28.1 |
EBITDA-% | 34.7 | 39.4 | -4.7 | 31.2 | 32.4 | -1.2 |
Operating profit, EBIT | 5.9 | 3.6 | 63.9 | 15.0 | 9.5 | 57.9 |
Operating profit-%, EBIT | 30.7 | 23.0 | 7.7 | 27.3 | 22.9 | 4.3 |
Return on investment-%, ROI* | 6.2 | 3.9 | 2.3 | 15.6 | 10.2 | 5.4 |
Return on equity-%, ROE* | 6.5 | 4.6 | 1.9 | 16.6 | 11.7 | 4.9 |
Undiluted earnings per share | 0.175 | 0.111 | 0.446 | 0.283 | ||
Change, % | ||||||
Equity ratio-% | 64.0 | 59.5 | 4.5 | |||
Net gearing-% | 11.2 | 6.7 | 4.5 |
* Reported as key figures of the review period.
Financial guidance for 2021, updated on
Revenio Group’s exchange rate adjusted net sales are estimated to grow very strongly from the previous year and profitability is to remain at a good level without non-recurring items. COVID-19 pandemic continues to cause uncertainty related to the markets.
Prior earnings guidance published on
The COVID-19 pandemic continues to cause uncertainty related to the markets. Revenio Group’s exchange rate adjusted net sales are estimated to grow strongly from the previous year and profitability is to remain at a good level without non-recurring items.
Comments from President and CEO
“In line with the first half-year, our financial performance in the third quarter was excellent. During the review period, sales of fundus imaging devices saw very strong growth. Demand for tonometers continued to grow. In the coming years, we expect sales of fundus imaging devices to show stronger growth than sales of tonometers, as the market for fundus imaging devices is larger and we have successfully increased our market share. As stated earlier, our strategy is to focus on clinical eye care diagnostics and as a consequence we are now in active discussions regarding various alternatives concerning Cutica and Ventica businesses, which are outside our core focus.
Sales performance was good in our key markets,
Our profitability was at a strong level, although affected by increased expenditure, in particular for the development of our clinical software solutions and continued development of our product portfolio. It should also be noted that for the next few years, our relative profitability will be affected by development expenses associated with the Oculo software solution we acquired in April this year as well as the relatively stronger growth in fundus imaging devices changing the product mix gradually.
In the global market for electronic components, there are still challenges regarding availability and pricing, as well as logistics. We estimate that the higher component prices will be reflected in our markets, variable costs and in end user prices at some point in time. We are closely monitoring the evolving situation and have been taking proactive steps to help ensure our manufacturing capability in the event of longer delivery times for components or significant disruptions to deliveries.
Software solutions are playing an increasingly central role in clinical eye care pathways. Through targeted innovations, our goal is to improve the quality of clinical diagnostics and, at the same time, to transform clinical care pathways with eye care-focused software solutions. Teleophthalmology with secure communications offers health care professionals the tools needed to improve the quality of care as well as to increase productivity. Software solutions present us with a significant opportunity to broaden the utilization of the high-quality data generated by our iCare fundus imaging devices, perimeters, and tonometers in clinical decision-making. Oculo integration is progressing as planned.
Improving the quality of clinical diagnostics through targeted product innovations is one of the cornerstones of our strategy. The new iCare EIDON Ultra-Widefield fundus imaging device, launched earlier this year, is an excellent example of our execution of this strategy. The new device has been cleared for sales in all our key markets, including
Sustainability is an integral element of our management and quality systems. Our goal is to continue and broaden business-driven and practical sustainability efforts in our day-to-day operations.”
Impact of the COVID-19 pandemic and actions taken
The COVID-19 pandemic has posed risks to the global business activities during the first nine months of financial year 2021 and the pandemic continues to create an atmosphere of uncertainty globally.
Since the early stages of the pandemic, all
The pandemic has so far not had a significant impact on our supply chain. As the COVID-19 situation has called for increased attention to hygiene, our IOP measurement devices which employ disposable probes are well suited to this new situation and increased demand is to be anticipated. The market for fundus imaging devices is recovering more slowly, as these are capital equipment sales, requiring both in-person sales demonstrations presentations as well as hands-on installation and training.
The balance sheet and profit of the
Revenio Group Strategy
The cornerstones of Revenio’s strategy are to:
- Focus fully on the eye care market
- Improve the quality of clinical diagnostics with targeted product innovations
- Transform clinical care pathways with eye care-focused software solutions
- Continue to develop stronger distribution and build on iCare brand awareness and client experience
- Continue strong, profitable growth
INTERIM REPORT JANUARY 1–SEPTEMBER 30, 2021, TABLES
Accounting policies applied in the preparation of the interim report
This interim report is not prepared in accordance with IAS 34.
This report has been drawn up in accordance with the same principles as the financial statements for 2020, with the exception of the following amendments to the existing standards, which the Group has applied as of
Amendments made to IFRS 9, IAS 39, IFRS 7, IFRS 4, and IFRS 16 as part of Phase 2 of Interest Rate Benchmark Reform.
In management’s estimation, the adoption of the above-mentioned standards does not have a material impact on the Group’s financial statements.
Consolidated comprehensive income statement (MEUR) | 7-9/2021 | 7-9/2020 | 1-9/2021 | 1-9/2020 | 1-12/2020 |
19.4 | 15.8 | 55.0 | 41.4 | 61.1 | |
Other operating income | 0.0 | 0.0 | 0.1 | 0.1 | 1.3 |
Materials and services | -5.5 | -4.4 | -16.1 | -11.7 | -17.7 |
Employee benefits | -4.1 | -3.1 | -11.6 | -9.1 | -12.7 |
Depreciation, amortization, and impairment | -0.8 | -2.6 | -2.2 | -3.9 | -4.6 |
Other operating expenses | -3.1 | -2.1 | -10.3 | -7.3 | -10.2 |
NET PROFIT/LOSS | 5.9 | 3.6 | 15.0 | 9.5 | 17.1 |
Financial income and expenses (net) | 0.0 | 0.0 | 0.0 | -0.2 | -0.4 |
PROFIT BEFORE TAXES | 5.9 | 3.6 | 14.9 | 9.3 | 16.7 |
Income taxes | -1.2 | -0.7 | -3.1 | -1.8 | -3.4 |
NET PROFIT | 4.7 | 2.9 | 11.8 | 7.5 | 13.4 |
Other comprehensive income items | -0.2 | -0.2 | 0.0 | -0.2 | -0.6 |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | 4.5 | 2.7 | 11.9 | 7.3 | 12.8 |
Earnings per share, undiluted, EUR | 0.175 | 0.111 | 0.446 | 0.283 | 0.505 |
Earnings per share, diluted, EUR | 0.175 | 0.111 | 0.446 | 0.283 | 0.504 |
Consolidated balance sheet (MEUR) | |||
ASSETS | |||
NON-CURRENT ASSETS | |||
Tangible assets | 2.2 | 1.8 | 2.0 |
59.5 | 50.4 | 50.4 | |
Intangible assets | 18.6 | 17.1 | 16.9 |
Right-of-use assets | 0.8 | 1.1 | 0.9 |
Other receivables | 0.1 | 0.1 | 0.2 |
Deferred tax assets | 0.1 | 0.0 | 0.0 |
TOTAL NON-CURRENT ASSETS | 81.4 | 70.4 | 70.4 |
CURRENT ASSETS | |||
Inventories | 5.8 | 4.9 | 4.9 |
Trade and other receivables | 8.5 | 6.2 | 9.3 |
Deferred tax assets | 1.3 | 1.1 | 1.0 |
Cash and cash equivalents | 16.5 | 24.2 | 28.9 |
TOTAL CURRENT ASSETS | 32.0 | 36.3 | 44.0 |
TOTAL ASSETS | 113.4 | 106.7 | 114.4 |
SHAREHOLDERS’ EQUITY AND LIABILITIES | |||
SHAREHOLDERS' EQUITY | |||
Share capital | 5.3 | 5.3 | 5.3 |
Fair value reserve | 0.3 | 0.3 | 0.3 |
Reserve for invested unrestricted capital | 52.6 | 52.1 | 52.5 |
Other reserves | 0.3 | 0.3 | 0.3 |
Retained earnings/loss | 16.6 | 7.9 | 14.0 |
Translation difference | -0.3 | -0.1 | -0.3 |
Own shares held by the company | -2.1 | -2.3 | -2.3 |
TOTAL SHAREHOLDERS' EQUITY | 72.6 | 63.5 | 69.7 |
LIABILITIES | |||
NON-CURRENT LIABILITIES | |||
Deferred tax liabilities | 3.7 | 4.1 | 3.9 |
Financial liabilities | 20.2 | 25.2 | 22.4 |
Lease liabilities | 0.5 | 0.5 | 0.4 |
TOTAL LONG-TERM LIABILITIES | 24.4 | 29.8 | 26.6 |
CURRENT LIABILITIES | |||
Trade and other payables | 11.4 | 8.9 | 12.6 |
Provisions | 0.4 | 0.4 | 0.3 |
Financial liabilities | 4.3 | 3.6 | 4.6 |
Lease liabilities | 0.4 | 0.6 | 0.6 |
TOTAL CURRENT LIABILITIES | 16.4 | 13.4 | 18.1 |
TOTAL LIABILITIES | 40.8 | 43.2 | 44.7 |
TOTAL SHAREHOLDERS' EQUITY | |||
AND TOTAL LIABILITIES | 113.4 | 106.7 | 114.4 |
Consolidated statement of change in equity (MEUR) | |||||||
Reserve for | |||||||
invested | |||||||
Share | unrestricted | Other | Retained | Translation | Own | Total | |
capital | equity | Reserves | Earnings | difference | shares | Equity | |
Balance | 5.3 | 52.5 | 0.6 | 14.0 | -0.3 | -2.3 | 69.7 |
Dividend distribution | 0.0 | 0.0 | 0.0 | -8.5 | 0.0 | 0.0 | -8.5 |
Disposal and purchase of own shares | 0.0 | -0.2 | 0.0 | 0.0 | 0.0 | 0.2 | 0.0 |
Other direct entries to retained earnings | 0.0 | 0.0 | 0.0 | -0.8 | 0.0 | 0.0 | -0.8 |
Used option rights | 0.0 | 0.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.3 |
Total comprehensive income | 0.0 | 0.0 | 0.0 | 11.9 | 0.0 | 0.0 | 11.9 |
Balance | 5.3 | 52.6 | 0.6 | 16.6 | -0.3 | -2.1 | 72.6 |
. | |||||||
Reserve for | |||||||
invested | |||||||
Share | unrestricted | Other | Retained | Translation | Own | Total | |
capital | equity | Reserves | Earnings | difference | shares | Equity | |
Balance | 5.3 | 51.2 | 0.6 | 8.0 | 0.1 | -0.7 | 64.4 |
Dividend distribution | 0.0 | 0.0 | 0.0 | -7.9 | 0.0 | 0.0 | -7.9 |
Disposal and purchase of own shares | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | -1.6 | -1.5 |
Other direct entries to retained earnings | 0.0 | 0.0 | 0.0 | 0.3 | 0.0 | 0.0 | 0.3 |
Used option rights | 0.0 | 0.9 | 0.0 | 0.0 | 0.0 | 0.0 | 0.9 |
Total comprehensive income | 0.0 | 0.0 | 0.0 | 7.5 | -0.2 | 0.0 | 7.3 |
Balance | 5.3 | 52.1 | 0.6 | 7.9 | -0.1 | -2.3 | 63.5 |
Consolidated cash flow statement (MEUR) | 7-9/2021 | 7-9/2020 | 1-9/2021 | 1-9/2020 | 1-12/2020 | ||||||||
CASH FLOW FROM OPERATIONS | |||||||||||||
Profit for the period | 4.7 | 2.9 | 11.8 | 7.5 | 13.4 | ||||||||
Adjustments: | |||||||||||||
Depreciation, amortization, and impairment | 0.8 | 2.6 | 2.2 | 3.9 | 4.6 | ||||||||
Other non-cash items | 0.1 | 0.6 | 0.3 | 1.0 | 0.5 | ||||||||
Interest and other financial expenses | 0.1 | 0.0 | 0.3 | 0.2 | 0.4 | ||||||||
Interest income and other financial income | -0.1 | 0.0 | -0.3 | 0.0 | 0.0 | ||||||||
Taxes | 1.2 | 0.7 | 3.1 | 1.8 | 3.4 | ||||||||
Other adjustments | 0.0 | 0.0 | -1.0 | 0.0 | 0.0 | ||||||||
Change in working capital: | |||||||||||||
Changes in sales and other receivables | -0.1 | 0.3 | 1.1 | 0.0 | -2.9 | ||||||||
Changes in current assets | 0.0 | -0.2 | -0.9 | -1.5 | -1.4 | ||||||||
Changes in trade and other payables | -0.2 | 0.2 | -2.0 | -1.3 | 1.0 | ||||||||
Change in working capital, total | -0.3 | 0.3 | -1.9 | -2.8 | -3.3 | ||||||||
Interest paid | -0.1 | -0.1 | -0.2 | -0.2 | -0.3 | ||||||||
Interest received | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
Taxes paid | -0.6 | -0.6 | -3.8 | -2.4 | -3.4 | ||||||||
NET CASH FLOW FROM OPERATING ACTIVITIES | 5.8 | 6.5 | 10.5 | 9.1 | 15.2 | ||||||||
CASH FLOW FROM INVESTING ACTIVITIES | |||||||||||||
Acquisitions of subsidiaries less cash and cash equivalents at acquisition time | 0.0 | 0.0 | -11.3 | 0.0 | 0.0 | ||||||||
Purchase of tangible assets | -0.2 | -0.1 | -0.7 | -0.4 | -0.8 | ||||||||
Purchase of intangible assets | -0.2 | -0.1 | -0.4 | -0.6 | -0.7 | ||||||||
Loans granted | 0.0 | 0.0 | 0.0 | -0.1 | -0.1 | ||||||||
NET CASH FLOW FROM INVESTING ACTIVITIES | -0.4 | -0.2 | -12.4 | -1.1 | -1.6 | ||||||||
CASH FLOW FROM FINANCING ACTIVITIES | |||||||||||||
Repayments of loans | -1.1 | -0.1 | -2.2 | -1.1 | -2.2 | ||||||||
Dividends paid | 0.0 | -1.3 | -8.5 | -7.9 | -7.9 | ||||||||
Share subscription through exercised options | 0.0 | 0.0 | 0.3 | 0.9 | 1.3 | ||||||||
Acquisition of own shares | 0.0 | 0.0 | 0.0 | -1.6 | -1.6 | ||||||||
Payments of lease agreement liabilities | -0.2 | -0.2 | -0.5 | -0.5 | -0.7 | ||||||||
NET CASH FLOW FROM FINANCING ACTIVITIES | -1.3 | -1.5 | -10.9 | -10.3 | -11.1 | ||||||||
Net change in cash and credit accounts | 4.1 | 4.7 | -12.8 | -2.3 | 2.6 | ||||||||
Cash and cash equivalents at beginning of period | 12.1 | 19.7 | 28.9 | 26.7 | 26.7 | ||||||||
Effect of exchange rates | 0.3 | -0.2 | 0.4 | -0.2 | -0.4 | ||||||||
Cash and cash equivalents at end of period | 16.5 | 24.2 | 16.5 | 24.2 | 28.9 | ||||||||
Group key figures and ratios (MEUR) | 1-9/2021 | 7-9/2021 | 1-9/2020 | 7-9/2020 | 1-12/2020 | ||||||||
Net sales | 55.0 | 19.4 | 41.4 | 15.8 | 61.1 | ||||||||
EBITDA | 17.2 | 6.7 | 13.4 | 6.2 | 21.7 | ||||||||
EBITDA-% | 31.2 | 34.7 | 32.4 | 39.4 | 35.5 | ||||||||
Operating profit | 15.0 | 5.9 | 9.5 | 3.6 | 17.1 | ||||||||
Operating profit-% | 27.3 | 30.7 | 22.9 | 23.0 | 28.1 | ||||||||
Pre-tax profit | 14.9 | 5.9 | 9.3 | 3.6 | 16.7 | ||||||||
Pre-tax profit-% | 27.2 | 30.4 | 22.6 | 22.9 | 27.4 | ||||||||
Net profit | 11.8 | 4.7 | 7.5 | 2.9 | 13.4 | ||||||||
Net profit-% | 21.5 | 24.1 | 18.1 | 18.7 | 21.9 | ||||||||
Gross capital expenditure | 13.2 | 0.6 | 1.8 | 0.3 | 2.4 | ||||||||
Gross capital expenditure-% | 23.9 | 2.9 | 4.4 | 1.7 | 3.9 | ||||||||
R&D costs | 4.8 | 1.6 | 3.4 | 0.9 | 4.6 | ||||||||
R&D costs-% from net sales | 8.7 | 8.4 | 8.3 | 6.0 | 7.5 | ||||||||
Net gearing-% | 11.2 | 11.2 | 6.7 | 6.7 | -2.4 | ||||||||
Equity ratio-% | 64.0 | 64.0 | 59.5 | 59.5 | 60.9 | ||||||||
Return on investment-% (ROI) | 15.6 | 6.2 | 10.2 | 3.9 | 18.1 | ||||||||
Return on equity-% (ROE) | 16.6 | 6.5 | 11.7 | 4.6 | 19.9 | ||||||||
Undiluted earnings per share, EUR | 0.446 | 0.175 | 0.283 | 0.111 | 0.505 | ||||||||
Diluted Earnings per share, EUR | 0.446 | 0.175 | 0.283 | 0.111 | 0.504 | ||||||||
Equity per share, EUR | 2.72 | 2.72 | 2.38 | 2.38 | 2.61 | ||||||||
Average no. of employees | 158 | 168 | 129 | 133 | 143 | ||||||||
Cash flow from operating activities | 10.5 | 5.8 | 9.1 | 6.5 | 15.2 | ||||||||
Cash flow from investing activities | -12.4 | -0.4 | -1.1 | -0.2 | -1.6 | ||||||||
Net cash used in financing activities | -10.9 | -1.3 | -10.3 | -1.5 | -11.1 | ||||||||
Total cash flow | -12.8 | 4.1 | -2.3 | 4.7 | 2.6 |
Alternative growth indicators used in financial reporting
The Group’s net sales are strongly affected by fluctuations in the exchange rate between the euro and the US dollar. As an alternative growth indicator, the company also presents net sales with the exchange rate effect eliminated.
Alternative growth indicator (EUR thousand) | 1-9/2021 |
Reported net sales | 55,001 |
Effect of exchange rates on net sales | 1,565 |
Net sales adjusted by the effect of exchange rates | 56,566 |
Growth in net sales, adjusted by the effect of exchange rates | 33.9% |
Reported net sales growth | 32.9% |
Difference, % points | 1.0% |
Alternative profitability indicator EBITDA (EUR thousand)
EBITDA = Operating profit + depreciation + impairment
As an alternative growth indicator, the Group also presents profitability as an operating margin (EBITDA) key figure.
Alternative profitability indicator EBITDA (EUR thousand) | 1-9/2021 | 1-9/2020 | 1-12/2020 |
Operating profit, EBIT | 14,988 | 9,494 | 17,130 |
Depreciation, amortization, and impairment | 2,179 | 3,908 | 4,563 |
EBITDA | 17,168 | 13,402 | 21,693 |
Operating profit adjusted by non-recurring costs (EUR thousand) | 1-9/2021 | 1-9/2020 | 1-12/2020 |
Operating profit, EBIT | 14,988 | 9,494 | 17,130 |
Cutica-related impairment | 0 | 1,937 | 1 937 |
Non-recurring costs of the acquisition | 678 | 0 | 0 |
Adjusted operating profit, EBIT | 15,666 | 11,431 | 19,067 |
EBITDA adjusted by non-recurring acquisition costs | 1-9/2021 | 1-9/2020 | 1-12/2020 |
EBITDA | 17,168 | 13,402 | 21,693 |
Non-recurring costs of the acquisition | 678 | 0 | 0 |
Adjusted, EBITDA | 17,846 | 13,402 | 21,693 |
The Oculo acquisition
The acquisition agreement included a conditional consideration of an additional AUD 0.3 million (approximately
At the time of acquisition, the fair value of the identifiable intangible assets of the acquired company was determined to be
The (preliminary) goodwill is
The gross value of the trade receivables at the time of the acquisition, totaling
In the Group’s comprehensive income statement for January–September 2021, the
During the period April 28–September 30, 2021, the acquired operations represented
The Board of Directors of
Calculation of acquisition cost
The following table gives the initial fair value of the net assets acquired and the goodwill arising from the acquisition at the time of acquisition:
Acquisition cost calculation, | ||
Purchase consideration | ||
Cash consideration | 11,703 | |
Contingent consideration | 168 | |
Total purchase consideration | 11,871 | |
Cash flow | ||
Cash consideration paid at closing | -11,703 | |
Closing cash | 402 | |
Total cash flow | -11,302 | |
ASSETS | ||
Non-current assets | ||
Tangible assets | 30 | |
Intangible assets | 2,460 | |
Deferred tax assets | 46 | |
Total non-current assets | 2,535 | |
Current assets | ||
Trade and other receivables | 412 | |
Cash and cash equivalents | 402 | |
Total current assets | 813 | |
TOTAL ASSETS | 3,349 | |
LIABILITIES | ||
Non-current liabilities | ||
Employee benefit obligations | 25 | |
Total non-current liabilities | 25 | |
Current liabilities | ||
Trade and other payables | 908 | |
Total current liabilities | 908 | |
TOTAL LIABILITIES | 933 | |
Net (liabilities) / assets | 2,416 | |
Purchase consideration | 11,871 | |
9,455 |
Formulas
EBITDA | = | EBITDA = Operating profit + amortization + impairment | |
Gross margin | = | Sales revenue – variable costs | |
Earnings per share | = | Net profit for the period (attributable to the parent company’s shareholders) Average number of shares during the period – own shares purchased | |
Profit before taxes | = | Operating profit + financial income – financial expenses | |
Equity ratio, % | = | 100x | Shareholders’ equity on the balance sheet + non-controlling interest Balance sheet total – advance payments received |
Net gearing, % | = | 100x | Interest-bearing debt – cash and cash equivalents Total equity |
Return on equity (ROE), % | = | 100x | Profit for the period Shareholders’ equity + non-controlling interest |
Return on investment (ROI), % | = | 100x | Profit before taxes + interest and other financial expenses Balance sheet total – non-interest-bearing debt |
Equity per share | = | Equity attributable to shareholders Number of shares at the end of the period |
Disclaimer
This report contains certain statements that are estimates based on the management’s best knowledge at the time the estimates were made. These statements therefore involve a certain amount of inherent risk and uncertainty. The estimates may change in the event of significant changes in general economic conditions.
Board of Directors
For further information, please contact:
jouni.toijala@revenio.fi
robin.pulkkinen@revenio.fi
www.revenio.fi
DISTRIBUTION:
Principal media
https://www.reveniogroup.fi/en/
In 2020, the Group’s net sales totaled
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