Martela Oyj Class A · OMXHEX:MARAS
Martela Oyj Class A — Q1 2012 Earnings Presentation
21 slides from Martela Oyj Class A's earnings presentation, Apr 27, 2012
Slide 1: Martela Financial Statements 1-3/2012
MARTELA FINANCIAL STATEMENTS 1-3 / 2012 27 April 2012
Slide 2: January – March 2012
JANUARY – MARCH 2012 • Consolidated revenue for January-March amounted to EUR 32.0 million (27.4), a year-on-year increase of 16.9 per cent. • Revenue was partly grown due to Grundell companies that were acquired in the end of 2011. Revenue also grew in traditional sales channels in Finland, Sweden
Slide 3: Central Focus Areas 2012
CENTRAL FOCUS AREAS 2012 • Service business development continues • Enterprise resource planning project • Businesses in Denmark and Russia • Development of Martela Outlet concept continues 3
Slide 4: Market Situation – Office Construction in Finland
MARKET SITUATION – OFFICE CONSTRUCTION IN FINLAND* • During January – December 2011, more office building square meters were completed in Finland than previous year (+16%). • More building permits were issued (+22%) than previous year. • New office building starts were +14% more than previous year.
Slide 5: Turnover
TURNOVER 45 40 35 30 25 MEUR 20 15 10 5 0 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 Revenue 25,7 26,1 34,0 27,4 30,5 33,8 39,0 32,0
Slide 6: External Revenue
EXTERNAL REVENUE 1-3/2012 (2011) Business Unit Finland 21,7 (18,4) 18,0 % Business Unit Sweden and Norway 4,9 (4,6) 5,1 % Business Unit Poland 2,8 (2,3) 20,0 % Other segments 2,6 (2,0) 30,4%
Slide 7: Operating Profit Development 2012
OPERATING PROFIT DEVELOPMENT 2012 1-3 1-3 1-12 EUR million 2012 2011 2011 Finland 0.2 1.0 6.5 Sweden & Norway -0.2 -0.2 0.3 Poland -0.4 -0.3 -0.6 Other Segments -0.9 -1.0 -2.3 Other 0.4 -0.3 -1.2 Total -0.9 -0.8 2.6
Slide 8: Operating Profit
OPERATING PROFIT 3,0 2,5 2,0 1,5 1,0 MEUR 0,5 0,0 -0,5 -1,0 -1,5 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2010 2010 2010 2011 2011 2011 2011 2012 Operating profit -0,5 2,0 1,0 -0,8 -0,9 2,4 1,9 -0,9
Slide 9: Personnel at Work, End of Period
PERSONNEL AT WORK, END OF PERIOD 800 700 600 500 400 300 200 100 0 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 Total 590 611 625 609 655 641 791 795 Workers 264 265 270 236 278 251 370 376 Salaried 326 346 355 373 377 390 421 419
Slide 10: Profitability Quarterly
PROFITABILITY QUARTERLY 30 25 20 15 10 % 5 0 -5 -10 -15 -20 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2010 2010 2010 2011 2011 2011 2011 2012 Return on equity -7,0 15,7 11,9 -11,8 -11,9 24,3 19,1 -14,9 Return on investment -5,2 20,2 10,6 -8,6 -12,0 26,3 18,4 -9,3 Operating profit % -2,0 7,5 2,8 -2,9 -2,8 7,0 4,9 -2,8
Slide 11: Balance Sheet
BALANCE SHEET 80 60 70 50 60 40 50 MEUR % 40 30 30 20 20 10 10 0 0 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2010 2010 2010 2011 2011 2011 2011 2012 Balance sheet total 53,2 53,5 56,7 52,3 51,4 53,4 69,7 58,4 Equity 28,7 30,1 31,2 28,4 27,4 29,1 30,8 28,0 Equity ratio % 54,4 56,9 55,6 54,9 54,2 55,5 44,7 48,4
Slide 12: Gearing
GEARING 50 50 40 40 30 30 20 20 MEUR 10 10 % 0 0 -10 -10 -20 -20 -30 -30 -40 -40 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2010 2010 2010 2011 2011 2011 2011 2012 Interest bearing net debt -5,7 -5,4 -4,4 -4,6 -1,2 -1,4 -0,8 4,6 Equity 28,7 30,1 31,2 28,4 27,4 29,1 30,8 28,0 Gearing ratio % -19,7 -17,9 -14,1 -16,1 -4,
Slide 13: Working Capital (Average 12 Months)
WORKING CAPITAL (AVERAGE 12 MONTHS) 45 20 40 18 35 16 14 30 MEUR 12 25 % 10 20 8 15 6 10 4 5 2 0 0 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2010 2010 2010 2011 2011 2011 2011 2012 Turnover 25,7 26,1 34,0 27,4 30,5 33,8 39,0 32,0 Working capital 16,1 17,2 18,8 19,6 20,0 20,8 21,9 23,5 % of turnover (annualized) 16,3
Slide 14: Capital Expenditure and Depreciation
CAPITAL EXPENDITURE AND DEPRECIATION 4,5 4,0 3,5 3,0 2,5 MEUR 2,0 1,5 1,0 0,5 0,0 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2010 2010 2010 2011 2011 2011 2011 2012 Capital expenditure 0,7 1,8 1,6 1,0 0,9 0,7 4,3 0,8 Depreciation 0,7 0,6 0,7 0,6 0,6 0,6 0,8 0,8
Slide 15: Outlook for 2012
OUTLOOK FOR 2012 • We anticipate that the revenue of Martela Group will increase and operating profit will be at previous year’s level or to improve in 2012. 15
Slide 16: Appendices
Appendices
Slide 17: Group Income Statement (EUR 1,000)
GROUP INCOME STATEMENT (EUR 1,000) 2012 2011 Change % 2011 1.1. - 31.03. 1.1. - 31.03. 1.1.-31.12. Net sales 32,000 27,381 16,9 % 130,685 Other operating income 0,213 0,150 42,0 % 0,417 Personnel expenses -9,629 -7,546 27,6 % -30,931 Other operating expenses -22,640 -20,162 12,3 % -94,896 Depreciati
Slide 18: Group Balance Sheet (EUR 1,000) - Assets
GROUP BALANCE SHEET (EUR 1,000) 31.03.2012 31.3.2011 Change % 31.12.2011 ASSETS Non-current assets Intangible assets 4,957 2,397 106,8 % 4,699 Tangible assets 13,439 12,216 10,0 % 13,653 Investments 0,055 0,375 -85,3 % 0,097 Deferred tax assets 0,331 0,297 11,4 % 0,315 Pension receivables and other
Slide 19: Group Balance Sheet (EUR 1,000) - Equity and Liabilities
GROUP BALANCE SHEET (EUR 1,000) 31.03.2012 31.3.2011 Change % 31.12.2011 SHAREHOLDERS' EQUITY AND LIABILITIES Shareholders' equity Share capital 7,000 7,000 0,0 % 7,000 Share premium account 1,116 1,116 0,0 % 1,116 Other funds 0,118 0,117 0,0 % 0,118 Translation diff. -0,131 -0,153 -14,4 % -0,236 Re
Slide 20: Scope of Operations
SCOPE OF OPERATIONS 2012 2011 Change % 2011 1.1. - 31.03. 1.1. - 31.03. 1.1.-31.12. Earnings / share, EUR -0,27 -0,22 24,0 % 0,39 Equity / share, EUR 6,91 7,06 -2,1 % 7,60 Equity ratio % 48,4 54,9 44,7 Return on equity % -14,9 -11,8 5,1 Return on investment % -9,3 -8,6 6,0 Interest- bearing net debt
Slide 21: Statement of Source and Application of Funds
STATEMENT OF SOURCE AND APPLICATION OF FUNDS (1000 EURO) 2011 2011 2011 2012 12m 4-6 7-9 10-12 1-3 rolling Net cash from operating activities (A) -2,058 1,014 -0,063 -2,887 -3,994 Cash flow from investing activities (B) -0,796 -0,811 -0,246 -0,965 -2,818 Net cash from financial activities (C) -1,349