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Result analysis

Tecnotree reports its result as follows:

INCOME STATEMENT, KEY FIGURES, MEUR 2018 2017
Net sales 41.9 55.1
Other operating income 0.1 0.2
Operating costs excluding one-time costs -36.1 -45.5
Adjusted operating result, MEUR ¹ 5.9 9.8
One-time costs -0.6 -17.8
OPERATING RESULT 5.3 -8.0
Financial items without foreign currency differences -1.1 -0.8
Exchange rates gains and losses 0.3 -1.8
Income taxes -4.9 -5.0
Adjusted result for the period ² 0.1 2.3
One-time costs -0.6 -17.8
RESULT FOR THE PERIOD -0.5 -15.5



1 Adjusted operating result = operating result before one-time items.

2 Adjusted result for the period = result for the period before one-time items.

 

Tecnotree’s net sales for the financial period were EUR 41.9 (55.1). The adjusted operating result was 5.9 (9.8) million and the operating result EUR 5.3 (-8.0) million. The adjusted result for the period was EUR 0.1 million (2.3) and the result for the financial period was EUR -0.5 million (-15.5)

Exchange rate differences in the financial period were EUR 0.3 (-1.8) million in the financial items. It is important to examine Tecnotree’s result without the impact of exchange rates, which is why this is shown separately in the table above. Exchange rate differences in financial items include mainly exchange rate differences in group items that have no direct impact on the Group’s cash flow.

Financial income and expenses (net) during the financial period totalled a net loss of EUR 0.8 million (net loss of EUR 2.5 million). Here is a breakdown of these:

 

FINANCIAL INCOME AND EXPENSES, MEUR 2018 2017
Interest income 0.3 0.2
Exchange rate gains 0.5 0.1
Other financial income 0.0 0.0
FINANCIAL INCOME, TOTAL 0.8 0.4
Interest expenses -0.5 -0.6
Exchange rate losses -0.2 -1.9
Other financial expenses -1.0 -0.4
FINANCIAL INCOME, TOTAL -1.7 -2.9
FINANCIAL ITEMS TOTAL -0.8 -2.5

 

Taxes for the period totalled EUR 4.9 million (5.0) including the following items:

TAXES IN INCOME STATEMENT, MEUR 2018 2017
Withholding taxes paid abroad -3.9 -4.6
Change in withholding tax accrual 0.1 0.2
Income taxes on the results of Group companies -0.9 -0.5
Prior year taxes -0.0 0.0
Change in Indian deferred tax assets 0.0 0.0
Other items -0.2 0.0
TAXES IN INCOME STATEMENT, TOTAL -4.9 -5.0

Earnings per share were EUR -0.00 (-0.13). Equity per share at the end of the period was EUR -0.04 (-0.05).