SCANFIL PLC STOCK EXCHANGE RELEASE 2 MAY 2012 8.30 A.M
SCANFIL EMS OY GROUP’S FIGURES FOR 2011 AS COMPARISON DATA FOR SCANFIL PLC
The new company Scanfil plc was formed in the partial demerger of Sievi Capital plc executed on 1 January 2012, in which the contract manufacturing business (Scanfil EMS Oy Group) was demerged into a new publicly listed company.
Scanfil plc’s business operations consist of contract manufacturing operations, and since Scanfil plc has no comparison figures for 2011, the company publishes Scanfil EMS Oy Group’s figures for 2011 as comparison data which are presented in tables below. Scanfil plc will publish its interim report for first quarter on 2 May 2012:
| CONSOLIDATED INCOME STATEMENT | |||||
| EUR million | |||||
| 1 – 3 | 4 – 6 | 7 – 9 | 10 – 12 | 1 – 12 | |
| 2011 | 2011 | 2011 | 2011 | 2011 | |
| Turnover | 58.8 | 62.0 | 51.2 | 38.8 | 210.8 |
| Other operating income | 0.1 | 0.1 | 0.1 | 0.2 | 0.4 |
| Changes in inventories of finished goods | |||||
| and work in progress | 0.1 | 0.7 | -1.7 | -0.2 | -1.1 |
| Expenses | -54.3 | -57.6 | -46.2 | -38.8 | -196.9 |
| Depreciation | -1.1 | -1.0 | -1.0 | -1.0 | -4.2 |
| Operating profit | 3.6 | 4.2 | 2.3 | -0.9 | 9.1 |
| Financial income and expenses | 0.1 | -0.2 | -0.9 | -0.5 | -1.5 |
| Share in the associated company’s profit | -0.1 | -0.1 | -0.1 | 0.9 | 0.6 |
| Profit before taxes | 3.6 | 3.9 | 1.4 | -0.6 | 8.2 |
| Income taxes | -0.9 | -0.9 | -0.7 | 0.5 | -2.0 |
| Net profit for the period | 2.6 | 3.0 | 0.7 | -0.1 | 6.3 |
| Attributable to: | |||||
| Equity holders of the parent | 2.6 | 3.0 | 0.7 | -0.1 | 6.3 |
| CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | |||||
| EUR million | |||||
| 1 – 3 | 4 – 6 | 7 – 9 | 10 – 12 | 1 – 12 | |
| 2011 | 2011 | 2011 | 2011 | 2011 | |
| Net profit for the period | 2.6 | 3.0 | 0.7 | -0.1 | 6.3 |
| Other comprehensive income: | |||||
| Translation differences | -2.7 | -0.2 | 4.2 | 2.7 | 4.1 |
| Derivative financial instrument | -0.7 | -0.7 | |||
| Other comprehensive income, net of tax | -2.7 | -0.2 | 4.2 | 2.1 | 3.4 |
| Total Comprehensive Income | -0.1 | 2.8 | 4.9 | 2.0 | 9.7 |
| Attributable to: | |||||
| Equity holders of the parent | -0.1 | 2.8 | 4.9 | 2.0 | 9.7 |
| CONSOLIDATED STATEMENT OF FINANCIAL POSITION | ||||
| EUR million | ||||
| Assets | 31.3.2011 | 30.6.2011 | 30.9.2011 | 31.12.2011 |
| Non-current assets | ||||
| Property, plant and equipment | 26.0 | 25.8 | 26.7 | 27.0 |
| Goodwill | 2.2 | 2.2 | 2.2 | 2.2 |
| Other intangible assets | 3.5 | 3.5 | 3.7 | 3.8 |
| Shares in associated companies | 1.3 | 1.2 | 1.2 | 1.1 |
| Available-for-sale investments | 0.0 | 0.0 | 0.0 | 0.0 |
| Receivables | 0.3 | 0.3 | 0.3 | 0.3 |
| Deferred tax assets | 0.3 | 0.3 | 0.3 | 0.5 |
| Total non-current assets | 33.7 | 33.4 | 34.4 | 35.0 |
| Current assets | ||||
| Inventories | 35.1 | 36.2 | 33.3 | 31.2 |
| Trade and other receivables | 50.2 | 54.1 | 42.6 | 27.6 |
| Advance payments | 0.2 | 0.3 | 0.5 | 0.1 |
| Current tax | 0.0 | 0.0 | 0.2 | 0.3 |
| Available-for-sale investments, cash equivalents | 6.6 | 13.6 | 19.3 | 20.8 |
| Cash and cash equivalents | 11.9 | 6.5 | 8.2 | 14.4 |
| Total current assets | 104.0 | 110.7 | 103.9 | 94.4 |
| Total assets | 137.7 | 144.1 | 138.4 | 129.4 |
| Shareholder’s equity and liabilities | 31.3.2011 | 30.6.2011 | 30.9.2011 | 31.12.2011 |
| Equity | ||||
| Share capital | 2.0 | 2.0 | 2.0 | 2.0 |
| Other reserves | 5.0 | 5.5 | 5.5 | 4.9 |
| Translation differences | 2.5 | 2.3 | 6.5 | 9.2 |
| Reserve for invested unrestricted equity fund | 10.6 | 10.6 | 10.6 | 10.6 |
| Retained earnings | 39.4 | 41.9 | 42.6 | 42.6 |
| Total equity | 59.5 | 62.3 | 67.2 | 69.3 |
| Non-current liabilities | ||||
| Deferred tax liabilities | 0.2 | 0.2 | 0.2 | 0.1 |
| Provisions | 0.2 | 0.3 | 0.4 | 0.3 |
| Interest bearing liabilities | 35.6 | 35.6 | 31.1 | 27.4 |
| Other liabilities | 1.0 | 1.0 | 1.0 | 0.1 |
| Total non-current liabilities | 36.9 | 37.0 | 32.7 | 27.8 |
| Current liabilities | ||||
| Trade and other liabilities | 36.2 | 39.5 | 29.3 | 23.1 |
| Current tax | 0.6 | 0.8 | 0.3 | 0.0 |
| Interest bearing liabilities | 4.4 | 4.4 | 8.9 | 9.1 |
| Total current liabilities | 41.2 | 44.8 | 38.5 | 32.3 |
| Total liabilities | 78.2 | 81.8 | 71.2 | 60.1 |
| Total shareholder’s equity and liabilities | 137.7 | 144.1 | 138.4 | 129.4 |
| CONSOLIDATED CASH FLOW STATEMENT | ||||
| EUR million | ||||
| 31.3.2011 | 30.6.2011 | 30.9.2011 | 31.12.2011 | |
| Cash flow from operating activities | ||||
| Net profit | 2.6 | 5.6 | 6.3 | 6.3 |
| Adjustments for the net profit | 2.0 | 4.4 | 7.1 | 6.9 |
| Change in net working capital | 1.9 | 0.2 | 5.1 | 17.7 |
| Paid interests and other financial expenses | 0.0 | -0.5 | -0.5 | -0.9 |
| Interest received | 0.0 | 0.0 | 0.2 | 0.2 |
| Taxes paid | -0.9 | -1.7 | -3.0 | -2.9 |
| Net cash from operating activities | 5.6 | 8.1 | 15.2 | 27.3 |
| Cash flow from investing activities | ||||
| Investments in tangible and intangible assets | -0.6 | -1.3 | -2.6 | -3.5 |
| Sale of tangible and intangible assets | 0.0 | 0.0 | 0.0 | 0.1 |
| Granted loans | -0.1 | -0.1 | -0.1 | -0.1 |
| Net cash from investing activities | -0.7 | -1.4 | -2.7 | -3.6 |
| Cash flow from financing activities | ||||
| Repayment of short-term loans | -2.8 | -2.8 | -2.8 | -2.8 |
| Repayment of long-term loans | -4.4 | |||
| Net cash from financing activities | -2.8 | -2.8 | -2.8 | -7.2 |
| Net increase/decrease in cash and cash equivalents | 2.2 | 3.9 | 9.7 | 16.5 |
| Cash and cash equivalents at beginning of period | 17.1 | 17.1 | 17.1 | 17.1 |
| Changes in exchange rates | -0.8 | -0.9 | 0.6 | 1.6 |
| Cash and cash equivalents at end of period | 18.5 | 20.1 | 27.4 | 35.2 |
| KEY INDICATORS | ||||
| 1 – 3 | 1 – 6 | 1 – 9 | 1 – 12 | |
| 2011 | 2011 | 2011 | 2011 | |
| Return on equity, % | 17.6 | 18.5 | 13.3 | 9.7 |
| Return on investment, % | 13.9 | 15.5 | 12.5 | 9.5 |
| Interest-bearing liabilities, EUR million | 40.0 | 40.0 | 40.0 | 36.5 |
| Gearing, % | 36.2 | 31.9 | 18.7 | 1.9 |
| Equity ratio, % | 43.2 | 43.3 | 48.6 | 53.6 |
| Gross investments in fixed assets, EUR million | 0.4 | 1.5 | 2.7 | 3.7 |
| % of net turnover | 0.8 | 1.2 | 1.6 | 1.8 |
| Personnel, average | 2 293 | 2 101 | 2 082 | 2 024 |
| SEGMENT INFORMATION | ||||
| EUR million | ||||
| 1 – 3 | 1 – 6 | 1 – 9 | 1 – 12 | |
| 2011 | 2011 | 2011 | 2011 | |
| Turnover | ||||
| Europe | 37.4 | 71.5 | 102.4 | 125.7 |
| Asia | 23.5 | 53.2 | 75.1 | 91.6 |
| Turnover between segments | -2.2 | -3.0 | -5.5 | -6.5 |
| Total | 58.8 | 121.7 | 172.0 | 210.8 |
| Operating profit | ||||
| Europe | 1.4 | 3.2 | 4.2 | 3.4 |
| Asia | 2.1 | 4.5 | 5.8 | 5.7 |
| Total | 3.6 | 7.7 | 10.0 | 9.1 |
| Assets | ||||
| Europe | 69.8 | 67.7 | 66.8 | 62.4 |
| Asia | 64.3 | 72.9 | 68.2 | 63.6 |
| Goodwill | 2.2 | 2.2 | 2.2 | 2.2 |
| Financial assets | 1.3 | 1.2 | 1.2 | 1.1 |
| Total | 137.7 | 144.0 | 138.4 | 129.4 |
SCANFIL PLC
Harri Takanen
CEO
Additional information:
CEO Harri Takanen
Tel +358 8 4882 111
Distribution NASDAQ OMX, Helsinki
Major Media
www.scanfil.com
Scanfil Group is engaged in contract manufacturing for international telecommunications technology and professional electronics manufacturers. Scanfil has 35 years of experience in demanding contract manufacturing. Scanfil is a systems supplier that offers its products and services to international telecommunications systems manufacturers and professional electronics customers. Typical products are equipment systems for mobile and public switched telephone networks, automation systems, frequency converters, lift control systems, equipment and systems for electricity production and transmission, analysers, slot machines and different meteorological instruments. The company has production facilities in China, Estonia, Hungary and Finland.
The associated company of Scanfil Group:
Greenpoint Oy (Scanfil EMS Oy’s share of ownership 40%) focuses on development and supply of solutions and equipment, which improve placements, visibility and sales of customer products in the Point-Of-Sale. The Greenpoint product portfolio includes a large variety of refrigerated merchandisers, displays and integrated check-out zone concepts. The company serves both brand owners and retail chains internationally. Along with the European markets Greenpoint Oy has entered North and Latin American markets through partnerships. www.greenpoint.fi