Tecnotree Oyj · OMXHEX:TEM1V
Tecnotree Oyj — FY2010 Earnings Presentation
26 slides from Tecnotree Oyj's earnings presentation, Feb 2, 2011
Slide 1: Tecnotree Corporation Financial Statements 1-12/2010
Tecnotree Corporation Financial Statements 1-12/2010 2 Feb, 2011
Slide 2: Tecnotree Group in Brief
Tecnotree Group in Brief 1-12 Highlights (comparisons to 1-12/2009) • Positive development continued – Net sales were 60.7 M€ (53.3) – Adjusted operating result was -2.5 M€ (-8.8) – Order book at the end of period was 14.3 M€ (11.7) – Increasing maintenance revenue 26.2 M€ (23.6) • Despite of improv
Slide 3: Financial Highlights
Financial Highlights M€ 1-12/2010 10-12/2010 Net sales 60.7(53.2) 14.0(13.5) Ebit before R&D capitalisation & Adjusted operating result amortisation and one-time costs -2.5(-8.8) -3.2(-2.0) Ebit -8.1(-15.0) -4.9(-8.5) Net result -11.0(-16.2) -5.3(-7.2) Order intake 63.3(57.8) 12.5(8.1) Order book 14
Slide 4: Net Sales by Area
Net Sales by Area Americas 42%(43%), Europe 11%(10%), MEA 39%(40%), APAC 8% (7%) M€ Total change +14% 30,0 +9% 25,0 +11% 20,0 15,0 10,0 +26% +42% 5,0 0,0 Americas Europe MEA APAC 1-12/2009 23,1 5,2 21,3 3,6 1-12/2010 25,2 6,7 23,7 5,1 4 2.2.2011 Financial Statement 1-12/2010
Slide 5: Consolidated Balance Sheet
Consolidated Balance Sheet EUR Million 31.12.2010 31.12.2009 Change % Shareholders’ equity 72.1 77.1 -6.4 Interest-bearing liabilities 14.5 16.7 -12.9 Deferred tax liabilites 3.3 4.0 -17.2 Other non-current liabilities 0.4 0.3 35.8 Current liabilities Interest-bearing liabilities 5.2 2.3 131.4 Non-i
Slide 6: Consolidated Balance Sheet
Consolidated Balance Sheet EUR Million 31.12.2010 31.12.2009 Change % Non-current assets Fixed assets 24.8 31.3 -20.8 Consolidated goodwill 21.6 19.6 10.3 Other non-current assets 3.3 2.4 33.3 Current assets Inventories 1.0 1.3 -23.1 Trade receivables 17.3 19.3 -10.4 Other receivables 24.2 17.2 4.1
Slide 7: Prospects for 2011
Prospects for 2011 Tecnotree is formulating its new strategy which will be communicated in the near future. The prospects will be informed later on. Variations between the quarterly figures are expected to continue to be considerable. 7 2.2.2011 Financial Statement 1-12/2010
Slide 8: Additional Financial Information for Investors
Additional Financial Information for Investors
Slide 9: Consolidated Income Statement
Consolidated Income Statement EUR Million 10-12/2010 10-12/2009 Change % Net sales 14.0 13.5 3.3 Other operating income 0.0 0.0 -95.1 Materials and services -2.4 -3.0 -19.9 Employee benefit expenses -7.8 -10.1 -22.5 Depreciation -2.4 -1.7 40.1 Other operating expenses -6.2 -7.2 -14.2 Operating resul
Slide 10: Adjusted Income Statement
Adjusted Income Statement EUR Million 10-12/2010 10-12/2009 Difference Net sales 14.0 13.5 0.5 Other operating income 0.0 0.0 0.0 A) Total revenue 14.0 13.5 0.5 - Materials and services -2.4 -3.0 0.6 - Other operating expenses and Depr. -16.5 -19.1 2.6 + Net impact of R&D capitalizations 1.7 0.5 1.2
Slide 11: Consolidated Income Statement
Consolidated Income Statement Tecnotree India consolidated from 6 May 2009 EUR Million 1-12/2010 1-12/2009 Change % Net sales 60.7 53.3 14.0 Other operating income 0.0 0.3 -86.3 Materials and services -10.1 -10.7 -5.1 Employee benefit expenses -29.1 -29.2 -0.2 Depreciation -8.7 -6.9 27.6 Other opera
Slide 12: Adjusted Income Statement
Adjusted Income Statement (Pro forma, Tecnotree India included Jan-Dec of both years) EUR Million 1-12/2010 1-12/2009 Difference Net sales 60.7 58.2 2.5 Other operating income 0.0 0.4 -0.4 A) Total revenue 60.7 58.6 2.1 - Materials and services -10.1 -12.2 2.1 - Other operating expenses and Depr. -5
Slide 13: Consolidated Income Statement
Consolidated Income Statement (Pro forma, Tecnotree India included Jan-Dec of both years) EUR Million 1-12/2010 1-12/2009 Change % Net sales 60.7 58.2 4.3 Other operating income 0.0 0.4 Materials and services -10.1 -12.2 -16.8 Employee benefit expenses -29.1 -31.1 -6.3 Depreciation -8.7 -7.1 23.7 Ot
Slide 14: Sales and Operative Ebit
Sales and Operative Ebit 4 per. Mov. Avg. (Adj. operating result %) M€ 25 25 % 20 % 20 15 % 10 % 15 5% 10 0% -5 % 5 -10 % -15 % 0 -20 % -5 -25 % Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Q1/10 Q2/10 Q3/10 Q4/10 Sales 21,7 11,5 15,0 13,2 13,5 14,1 19,3 13,3 14,0 Adj. operating result 4,6 -2,1 -2,7 -2,1 -2,0 -0,6
Slide 15: Sales by Area: Americas
Sales by Area Americas M€ 25 70 % 60 % 20 50 % 15 40 % 10 30 % 20 % 5 10 % 0 0% Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Q1/10 Q2/10 Q3/10 Q4/10 Tecnotree 21,7 11,5 15,0 13,2 13,5 14,1 19,3 13,3 14,0 Sales Americas 11,9 7,0 6,9 3,4 5,8 4,5 10,7 4,2 5,8 % 55 % 61 % 46 % 26 % 43 % 32 % 55 % 32 % 41 % 4 per. Mov.
Slide 16: Sales by Area: Europe
Sales by Area Europe M€ 25 20 % 20 15 % 15 10 % 10 5% 5 0 0% -5 -5 % Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Q1/10 Q2/10 Q3/10 Q4/10 Tecnotree 21,7 11,5 15,0 13,2 13,5 14,1 19,3 13,3 14,0 Sales Europe 3,7 1,6 2,0 1,9 -0,3 2,0 1,9 1,0 1,8 % 17 % 14 % 13 % 14 % -2 % 14 % 10 % 8% 13 % 4 per. Mov. Avg. (%) 16 2.2
Slide 17: Sales by Area: MEA
Sales by Area MEA M€ 25 60 % 20 50 % 40 % 15 30 % 10 20 % 5 10 % 0 0% Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Q1/10 Q2/10 Q3/10 Q4/10 Tecnotree 21,7 11,5 15,0 13,2 13,5 14,1 19,3 13,3 14,0 Sales MEA 4,9 2,1 5,4 7,4 6,3 5,9 5,7 6,3 5,9 % 23 % 18 % 36 % 56 % 47 % 42 % 30 % 47 % 42 % 4 per. Mov. Avg. (%) 17 2.2.
Slide 18: Sales by Area: APAC
Sales by Area APAC M€ 25 14 % 12 % 20 10 % 15 8% 10 6% 4% 5 2% 0 0% Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Q1/10 Q2/10 Q3/10 Q4/10 Tecnotree 21,7 11,5 15,0 13,2 13,5 14,1 19,3 13,3 14,0 Sales APAC 1,1 0,8 0,7 0,5 1,7 1,8 1,1 1,7 0,5 % 5% 7% 5% 4% 13 % 13 % 6% 13 % 4% 4 per. Mov. Avg. (%) 18 2.2.2011 Financia
Slide 19: Sales Distribution
Sales Distribution M€ 25 20 15 10 5 0 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Q1/10 Q2/10 Q3/10 Q4/10 Tecnotree sales 21,7 11,5 15,0 13,2 13,5 14,1 19,3 13,3 14,0 Services 5,5 3,9 6,3 6,8 6,7 6,7 6,9 5,8 6,8 New customers 0,5 1,0 0,8 1,2 0,0 0,5 4,2 0,0 0,0 Existing customers 15,7 6,6 7,9 5,2 6,8 6,9 8,2 7,5
Slide 20: Order book by Sales Area
Order book by Sales Area M€ 10 8 6 4 2 0 Q4/2008 Q4/2009 Q4/2010 Europe 1,2 1,2 2,6 MEA 2,5 6,9 9,3 LA 4,4 1,9 1,5 APAC 1,4 1,7 0,9 20 2.2.2011 Financial Statement 1-12/2010
Slide 21: Materials and Services
Materials and Services M€ 25 25 % 20 20 % 15 15 % 10 10 % 5 5% 0 0% Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Q1/10 Q2/10 Q3/10 Q4/10 Sales 21,7 11,5 15,0 13,2 13,5 14,1 19,3 13,3 14,0 Materials and Services 3,8 2,0 3,4 2,3 3,0 2,1 3,8 1,9 2,4 % 17 % 17 % 23 % 17 % 22 % 15 % 20 % 14 % 17 % 4 per. Mov. Avg. (%)
Slide 22: Employee Benefits
Employee Benefits M€ 25 80 % 70 % 20 60 % 15 50 % 40 % 10 30 % 20 % 5 10 % 0 0% Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Q1/10 Q2/10 Q3/10 Q4/10 Sales 21,7 11,5 15,0 13,2 13,5 14,1 19,3 13,3 14,0 Employee 6,9 5,6 6,2 7,3 10,1 7,1 7,4 6,8 7,8 benefits % 32 % 49 % 41 % 55 % 75 % 50 % 39 % 51 % 56 % 4 per. Mov. A
Slide 23: Other Operating Expenses
Other Operating Expenses M€ 25 60 % 20 50 % 40 % 15 30 % 10 20 % 5 10 % 0 0% Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Q1/10 Q2/10 Q3/10 Q4/10 Sales 21,7 11,5 15,0 13,2 13,5 14,1 19,3 13,3 14,0 Other Opex 4,6 4,2 5,2 5,1 7,2 4,8 5,3 4,5 6,2 % 21 % 37 % 35 % 39 % 53 % 34 % 27 % 34 % 44 % 4 per. Mov. Avg. (%) 23
Slide 24: Assets by Quarter
Assets by Quarter M€ 140 120 100 80 60 40 20 0 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Q1/10 Q2/10 Q3/10 Q4/10 Cash 51,0 51,5 32,8 30,5 25,7 27,2 22,0 14,1 16,7 Investments 1,6 0,8 1,6 0,9 0,9 1,4 0,6 Other rec. (mainly WIP) 24,6 24,4 22,2 18,2 17,2 19,9 24,2 23,2 24,2 Trade receivables 14,4 12,1 18,1 18,0 19
Slide 25: Equity and Liabilities by Quarter
Equity and Liabilities by Quarter M€ 140 120 100 80 60 40 20 0 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Q1/10 Q2/10 Q3/10 Q4/10 Current non-interest bearing 10,8 11,0 15,1 12,8 18,1 18,0 19,3 13,2 14,2 Current interest bearing 20,0 20,0 2,3 2,2 2,3 2,3 2,3 2,2 5,2 Deferred tax 4,5 4,6 6,3 6,4 4,0 3,9 3,8 3,5 3
Slide 26: Thank you!
Thank you!