Asiakastieto Group Plc, stock exchange release 16 FEBRUARY 2016, 10.00 A.m. EET
Asiakastieto Group’s Financial Statement Release 1.1. – 31.12.2015: Net sales increased regardless of reduced volume
SUMMARY
The figures presented in this financial statement release are based on audited 2015 financial statement.
October– December2015 in short:
– Net sales amounted to EUR 11,4 million (EUR 10,5 million), an increase of 7,7 %.
– Adjusted EBIT excluding non-recurring and adjusted items was EUR 4,9 million (EUR 5,0 million).
– Operating profit (EBIT) was EUR 4,9 million (EUR 4,3 million). Operating profit included non- recurring expenses and adjusted items of EUR 0,0 million (EUR 0,7 million).
– The share of new products and services of net sales was 9,0 % (8,0 %).
– The share of value-added services of net sales was 59,7 % (56,0 %).
– Free cash flow amounted to EUR 4,7 million (EUR 4,3 million). The impact of non-recurring and adjusted items on free cash flow was EUR -0,0 million (EUR -0,1 million).
– Earnings per share were EUR 0,24 (EUR 0,36).
Financial year 2015 in short:
– Net sales amounted to EUR 43,7 million (EUR 41,4 million), an increase of 5,6 %.
– Adjusted EBIT excluding non-recurring and adjusted items was EUR 18,3 million (EUR 18,6 million).
– Operating profit (EBIT) was EUR 15,8 million (EUR 17,6 million). Operating profit included non-recurring expenses and adjusted items of EUR 2,5 million (EUR 1,0 million), mostly relating to the Company’s listing.
– The share of new products and services of net sales was 7,6 % (6,7 %).
– The share of value-added services of net sales was 59,4 % (56,1 %).
– Free cash flow amounted to EUR 13,8 million (EUR 16,8 million). The impact of non-recurring and adjusted items on free cash flow was EUR -2,9 million (EUR -0,3 million).
– Earnings per share were EUR 0,76 (EUR -0,14).
Future outlook
Asiakastieto Group expects the net sales to grow at the same rate in 2016 as in 2015. The adjusted euro-denominated operating profit is expected to slightly increase from last year, despite the new rental cost for 2016 caused by the eventual realisation of office premises.
JUKKA RUUSKA, CEO
“The high demand for value-added services boosted Asiakastieto Group’s sales in 2015, although the total volume of services decreased due to economic situation in Finland. The growth of 5,6 % in net sales was also based on the customers’ further increasing interest in the company’s new services. The share of Asiakastieto Group’s new services of the net sales is exceptionally high in the line of business, even internationally, and it increased further, being 7,6 % (6,7 %) for the whole year. The net sales grew in all product areas and totalled EUR 43,7 million (EUR 41,4 million).
The adjusted EBIT without non-recurring and adjusted items amounted to EUR 18,3 million (EUR 18,6 million). The strong growth in real estate information services was reflected as a considerable increase in data acquisition costs, which in its part had an impact on the decrease in the adjusted operating profit.
In 2016 Asiakastieto Group will continue its determined service development supporting the digitalization tendencies of its customers. We believe that the share of automatically produced services in the customers’ credit granting and customer management processes will considerably grow in Finland, which supports the demand for our advanced processed services also in the future.
Suomen Asiakastieto Oy has signed in December 2015 a sales agreement of its current office premises. The agreement will become effective in the spring 2016. In the same connection the Group will hire its current premises for approximately two years, after which it will move as a leaseholder to premises to be built. If the contract of sale of shares in the premises owned by the company is realised, additional cash flow enables an extra dividend distribution.”
KEY FIGURES
| Key income statement and cash flow figures and ratios EUR million |
1.10. – 31.12.2015 | 1.10. – 31.12.2014 | 1.1. – 31.12.2015 | 1.1. – 31.12.2014 | |
| Net sales | 11,4 | 10,5 | 43,7 | 41,4 | |
| Growth of net sales, %1 | 7,7 | 3,3 | 5,6 | 0,1 | |
| EBITDA | 5,4 | 4,8 | 18,0 | 19,7 | |
| Operating profit (EBIT) | 4,9 | 4,3 | 15,8 | 17,6 | |
| Adjusted EBITDA2 | 5,4 | 5,5 | 20,5 | 20,6 | |
| Adjusted EBITDA margin, %2 | 47,5 | 51,9 | 47,0 | 49,8 | |
| Adjusted EBIT2 | 4,9 | 5,0 | 18,3 | 18,6 | |
| Adjusted EBIT margin, %2 | 42,7 | 47,2 | 41,8 | 45,0 | |
| Net sales from new products and services | 1,0 | 0,8 | 3,3 | 2,8 | |
| New products and services share of net sales, % | 9,0 | 8,0 | 7,6 | 6,7 | |
| Net sales from value-added services | 6,8 | 5,9 | 26,0 | 23,2 | |
| Value-added services share of net sales, % | 59,7 | 56,0 | 59,4 | 56,1 | |
| Free cash flow3 | 4,7 | 4,3 | 13,8 | 16,8 | |
| Cash conversion, %3 | 86,6 | 90,2 | 76,5 | 85,3 | |
| Key balance sheet ratios EUR million |
1.10. – 31.12.2015 | 1.10. – 31.12.2014 | 1.1. – 31.12.2015 | 1.1. – 31.12.2014 | |
| Net debt to adjusted EBITDA, x | 2,2 | 2,9 | 2,4 | 3,0 | |
| Gearing, % | 62,1 | 95,8 | 62,1 | 95,8 | |
| Equity ratio, % | 50,9 | 46,7 | 50,9 | 46,7 | |
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1The growth of net sales for periods from 1 October to 31 December 2014 and 1 January to 31 December 2014 has been calculated by comparing the net sales of the period to the net sales in the comparative period in 2013.
2Adjusted key figures are adjusted by following items: management fees which the Company has paid to Investcorp, the former owner of the Company, until the listing of the Company for certain ongoing advisory services, costs relating to the listing, an expense relating to the discount given to the personnel in the personnel offering, fees for legal and other advisory services, redundancy payments and compensations paid. The above listed adjusted items were EUR -0,0 million for the fourth quarter 1 October – 31 December 2015, EUR -0,7 million for the comparative period 1 October – 31 December 2014, EUR -2,5 million for the financial year 2015 and EUR -1,0 million for the financial year 2014.
3The impact of adjusted items on free cash flow was EUR -0,0 million for the fourth quarter 1 October – 31 December 2015, EUR -0,1 million for the comparative period 1 October – 31 December 2014, EUR -2,9 million for the financial year 2015 and EUR -0,3 million for the financial year 2014.
BUSINESS OVERVIEW
Asiakastieto Group Plc (the “Company”) is a Finnish public limited liability company and the parent company for Asiakastieto Group (“Asiakastieto Group” or the “Group”). Suomen Asiakastieto Oy is the operating company in the group.
Asiakastieto Group is one of the leading Finnish providers of business and consumer information services. The Group’s products and services are primarily used for risk management, finance and administration, decision-making and sales and marketing purposes. The Group serves several industries, the largest ones including finance and banking as well as wholesale and retail sectors and expert services with an increased share.
The services provided by the Group are based on a comprehensive database which combines data gathered from several public data sources as well as through the Group’s own data acquisition channels. The database provides a base for the Group’s services ranging from individual reports to advanced risk management solutions.
The Group’s products and services are divided into four product areas:
1. Business Information: Risk management and general business information services which are mainly used by businesses serving corporate customers.
2. Consumer Information: Risk management information and services on private individuals and real estates. The products and services of Consumer Information are mainly used by businesses serving consumer customers.
3. Customer Management: Services for the prospecting of potential customers as well as for other sales and marketing purposes. The products and services of Customer Management are mainly used by businesses serving corporate customers.
4. Certificates and Analyses: Credit rating certificates, company and industry analyses, and printed products concerning risk management information.
FUTURE OUTLOOK
Asiakastieto Group expects the net sales to grow at the same rate in 2016 as in 2015. The adjusted euro-denominated operating profit is expected to slightly increase from last year, despite the new rental cost for 2016 caused by the eventual realisation of office premises.
The outlook is subject to risks related to, among other factors, the development of the Finnish economy and the business operations of the Group. The most significant risks related to business operations include, for example, risks related to the success of product and service development activities, launches of new products and services and risks related to competitive tenders and to losing significant customer accounts.
Asiakastieto Group’s business risks have been described in more detail on the Company’s investor pages at investors.asiakastieto.fi.
Helsinki, on 16 February 2016
ASIAKASTIETO GROUP PLC
Board of Directors
For further information:
Jukka Ruuska, CEO
Asiakastieto Group Plc
tel. +358 10 270 7111
Distribution:
Nasdaq Helsinki Ltd
major media
investors.asiakastieto.fi
Asiakastieto Group Plc_2015_FinancialStatementRelease
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Source: Asiakastieto Group Oyj via Globenewswire
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