In 2015, the personnel category was 5-9 persons. The subject's rating is AA with financial statements, without personal credit information

Transcription

1 Suomen Asiakastieto Oy Rating Alfa WordDive Oy Kalevantie 7 C 6 k Tampere Kalevantie 7 C 6 k, Tampere Data supplied on Telephone Telefax Trade register number Registered Business ID Business started Turnover Number of employees Line of business In 2015, the turnover amounted to 552 thousand EUR, the length of the accounting period was, and the period ended on In 2015, the personnel category was 5-9 persons. The company's investigated line of business on is: computer programming activities (62010). Summary The subject's rating is AA with financial statements, without personal credit information Rating excellent good+ AAA AA+ > good AA satisfactory+ A+ satisfactory passable poor A B C Payments very positive positive > not negative slightly negative negative Background strong good satisfactory passable poor > no classification Finances excellent good > satisfactory passable poor no classification Maximum credit recommendation EUR The background is not classified, if the information of persons in charge cannot be used due to the Credit Information Act (27 ). Basics Company form Limited company

2 Type of ownership Share capital Number of shares Activity Other names Private Finnish Paid share capital: EUR pc. In 2015, the turnover amounted to 552 thousand EUR, the length of the accounting period was, and the period ended on In 2015, the personnel category was 5-9 persons. The company's investigated line of business on is: computer programming activities (62010). Number of the company's offices is 1. The company has been in the Employer Register since The company has been in the Prepayment register since Validity to be checked on The company has been VAT liable for business activity since Old name: Voctrainer Oy Auxiliary business name: Voctrainer Auxiliary business name: WordDive, expired on Parallel business name: Voctrainer Ltd, expired on Parallel business name: WordDive Ltd Payments The company has no registered payment defaults. Persons in charge Managing director Leinonen Timo-Pekka, from on , Tampere The person has participations in. Chairman Arvio Antti Tapani, from on , Tampere The person has participations in. Ordinary member Fogelholm Nicolas Karl-Gustav, from on , Helsinki The person has participations in. Ordinary member Leinonen Timo-Pekka, from on , Tampere The person has participations in. Ordinary member Putkonen Tero Juhani, from on , Tampere The person has participations in. Resigned persons in charge Chairman Leinonen Timo-Pekka, , Tampere Ordinary member Arvio Antti Tapani, , Tampere Ordinary member Heikinheimo Mika Olavi, , Tampere Ordinary member Leinonen Anu Helena, , Tampere Authorised signatures According to the statutes, the chairman of the Board and the managing director sign for the firm separately, and the members of the Board, two jointly. Procuration rights have not been granted.

3 Business mortgages The company has no registered business mortgages. Summary of the financial statement analysis Company Upper in the line of business Median in the line of business Lower in the line of business Volume Change in turnover in % Profitability Return on investment Solvency Equity ratio Company 96,4 27,3 127,1 73,6 Upper 32,0 29,2 33,6 30,3 Median 2,3 0,0 3,3 0,8 Lower -25,0-28,6-23,4-24,6 Liquidity Current ratio Company -119,9-82,2-63,1-46,4 Upper 28,3 25,7 26,7 27,2 Median 3,4 2,1 2,7 1,9 Lower -9,2-11,7-13,0-15, Company 78,5 34,9 6,5 38,5 Upper 85,4 85,7 87,6 88,9 Median 52,9 53,8 55,9 57,1 Lower 12,4 11,4 12,0 14, Company 3,9 1,7 2,5 2,5 Upper 3,6 3,5 3,7 3,9 Median 1,8 1,7 1,8 1,8 Lower 0,9 1,0 1,0 1,0

4 Financial statement analysis Industry comparison Volume Profitability Liquidity Solvency Summary and remarks The financial statement analysis is based on the financial statement data of WordDive Oy in the accounting period as at The analysis also utilizes the data of the accounting periods The auditor's report has not been available. The comparison includes 4110 in the industry class (Computer programming activities) from the period The risk of bankruptcy in the line is 0,5 %, and the risk of payment defaults 4,0 %. The risk of payment defaults is close to the median level for all. The turnover of WordDive Oy is small (552 teur) in relation to all active. However, in its line, the company is clearly larger than average (77 teur). The turnover increased extensively in the latest accounting period (73,6). The increase has been considerably faster than the average in the line. Due to this, the subject may fast increase its market share, provided that the trend continues in the future. However, the development of turnover of the company has been exceptionally fast in the long term. The operating margin of the company (-16,0 %) is poor, proportioned to the line (median 7,1 %). This indicates very poor internal financing. Also the operating result in % (-21,6 %) is poor, compared with the line (3,8 %), referring to a dangerously low contribution margin. The central ratio for profitability, return on investment, is poor (-46,4 %). This is clearly lower than the average in the line (median 1,9 %). If, instead of the return on investment, the return on assets is calculated, taking also into account interest-free loans, the return ratio is -35,3 %. The return on assets is poor, in relation to the line of business (1,5%). The liquidity is good, measured by current ratio (2,5), which is about equal to the average in the line (median 1,8). The sales receivable turnover of the company is short (14 days) compared with the line (44 days). The accounts payable turnover of the company is average, 86 days, compared with the median value in the line (63 days). The solvency of WordDive Oy is good, measured by equity ratio (38,5 %). The median of the equity ratio in the line is 57,1%. The solvency has improved considerably from the previous period. In the long term, the development of solvency has been dangerously weak. The company's net gearing is -1,1, which can be considered very good. The relative indebtedness is 54,7%, which is passable compared with the median in the line (25,2%). The company's rapid growth is dangerous, because the profitability is poor. Despite rapid growth, financing should remain controllable, due to good solvency. Because of its solvency, the company has the qualifications to also bring the profitability to at least a satisfactory level in order to secure the preconditions for activities in the long term. The verbal interpretation of the financial statements analysis has been produced programmatically from unadjusted financial statements. Inquiry Statistics Rating history The company has been inquired 46 times during 6 months. Suomen Asiakastieto Oy does not guarantee that the information in the report is correct or complete, nor does it assume responsibility for damages possibly caused by the use of this report. The subject's rating on is AA with financial statements, without personal credit information AA AA AA with financial statements, without personal credit information with financial statements, without personal credit information with financial statements, without personal credit information

5 Rating distribution in the line Class pc. % excellent AAA good+ AA good AA satisfactory+ A+ 2Â satisfactory A 2Â passable B poor C Total 8Â 769 Reference line of business: computer programming activities (62010) Company's payment defaults and other credit information entries The company has no registered payment defaults Company's payments analysis No payments analysis is available of the company. Corporate links of persons in charge Name Identity number Domicile With the company since - Resigned Leinonen Timo-Pekka Tampere Participations in 5 Chairman Managing director Digital Services Finland Oy Ltd, Tampere, Business ID: Ordinary member Digital Services Finland Oy Ltd, Tampere, Business ID: Managing director Ordinary member Arvio Antti Tapani Tampere Participations in 4 PD Spiner Oy, Tampere, Business ID: Managing director PD Spiner Oy, Tampere, Business ID: Ordinary member Ordinary member

6 Chairman Fogelholm Nicolas Karl-Gustav Helsinki Participations in 13 N. Fogelholm Oy, Helsinki, Business ID: Managing director N. Fogelholm Oy, Helsinki, Business ID: Ordinary member Tulos Helsinki Oy, Helsinki, Business ID: Substitute managing director Tulos Helsinki Oy, Helsinki, Business ID: Chairman Clickable Oy, Helsinki, Business ID: Chairman Finnish Design Shop Oy, Turku, Business ID: Ordinary member Ordinary member Tulos Group Oy, Helsinki, Business ID: Chairman Tulos Group Oy, Helsinki, Business ID: Substitute managing director Tulos Ventures Oy, Helsinki, Business ID: Chairman Tulos Ventures Oy, Helsinki, Business ID: Ordinary member Tulos Ventures Oy, Helsinki, Business ID: Managing director Weecos Oy, Tampere, Business ID: Ordinary member Putkonen Tero Juhani Tampere Participations in 3 Kiinteistö Oy Nokian Harju-Center, Nokia, Business ID: Ordinary member EduEffect Finland Oy, Jyväskylä, Business ID: Chairman Ordinary member Heikinheimo Mika Olavi Tampere Participations in 9 BeiZ Oy, Tampere, Business ID: Managing director BeiZ Oy, Tampere, Business ID: Ordinary member Basemark Oy, Espoo, Business ID: Ordinary member Birch Venture Oy, Tampere, Business ID: Managing director Birch Venture Oy, Tampere, Business ID: Ordinary member Ordinary member RidenRent Oy, Tampere, Business ID: Ordinary member It's Pure Oy, Tampere, Business ID: Chairman VR Gurus Oy, Helsinki, Business ID: Chairman Leinonen Anu Helena Tampere Participations in 2 Ordinary member Digital Services Finland Oy Ltd, Tampere, Business ID: Chairman Business mortgages

7 The company has no registered business mortgages Profit and loss account (t EUR ) PROFIT AND LOSS ACCOUNT % % % TURNOVER 110, , , ,0 100 Change in finished goods and work-in-progress inventories Production for own use 22,0 20,0 123,0 87,9 0 Other operating income 24,0 21,8 96,0 68,6 97,0 30,5 153,0 27,7 Materials and services Materials, supplies and goods Purchases during the fiscal period -11,0 10,0-15,0 10,7-2,0 0,6 0 Change in raw material inventories Outsourced services -41,0 37,3-97,0 69,3-176,0 55,3-315,0 57,1 Personnel expenses Salaries and wages -153,0-204,0-228,0 71,7-340,0 61,6 Social security expenses Pension expenses -26,0 23,6-30,0 21,4-39,0 12,3-64,0 11,6 Other social security expenses -5,0 4,5-6,0 4,3-7,0 2,2-11,0 2,0 Depreciation and reductions in value Depreciation according to plan -28,0 25,5-40,0 28,6-65,0 20,4-39,0 7,1 Reductions in value of fixed and other non-current assets Exceptional reductions in value of current assets Other operating expenses -97,0 88,2-151,0-62,0 19,5-89,0 16,1 OPERATING RESULT -205,0-183,0-164,0 51,6-152,0 27,5 Financial income and expenses Income on investments in group Income on investments in associated Income on investments in other fixed assets Other interest and financial income Reductions in value of investments held as non-current assets Reductions in value of investments held as current assets Interest and other financial expenses RESULT BEFORE EXTRAORDINARY ITEMS Extraordinary items Extraordinary income Extraordinary expenses RESULT BEFORE CLOSING ENTRIES AND TAXES ,0 0,9 0-3,0 0,9-5,0 0,9-206,0-183,0-167,0 52,5-157,0 28,4-206,0-183,0-167,0 52,5-157,0 28,4 %

8 Closing entries Change in depreciation difference Change in voluntary provisions Income taxes Other direct taxes Change in deferred tax liability RESULT FOR THE FISCAL PERIOD -206,0-183,0-167,0 52,5-157,0 28,4 Balance sheet (t EUR) BALANCE SHEET ASSETS FIXED AND OTHER NON-CURRENT ASSETS Intangible assets Start-up expenses Research expenses % % % Development expenses 89,0 41,6 177,0 58,6 118,0 35,4 83,0 15,7 Intangible rights 10,0 4,7 8,0 2,6 8,0 2,4 8,0 1,5 Goodwill Other capitalised expenses Advances paid Tangible assets Land and water areas Buildings and constructions Machinery and equipment 1,0 0,5 1,0 0,3 1,0 0,3 0 Other tangible assets Advances paid and fixed assets under construction Investments Shares/Similar rights of ownership in group Receivables from group Shares/Similar rights of ownership in associated Receivables from associated Shares/Similar rights of ownership in other Other receivables Own shares/similar rights of ownership CURRENT ASSETS Inventories and work-in-progress Materials and supplies %

9 Work-in-progress Finished goods Other inventories Advances paid Receivables Long term receivables Trade receivables Receivables from group Receivables from associated Loan receivables Imputed tax receivables Other receivables 2,0 0,6 2,0 0,4 Unpaid shares/similar rights of ownership Prepaid expenses and accrued income Short term receivables Trade receivables 10,0 4,7 3,0 1,0 5,0 1,5 21,0 4,0 Receivables from group Receivables from associated Loan receivables Imputed tax receivables Other receivables 30,0 14,0 48,0 15,9 1,0 0,3 0 Unpaid shares/similar rights of ownership Prepaid expenses and accrued income Financial assets Shares/Similar rights of ownership in group Own shares/similar rights of ownership Other shares/similar rights of ownership Other securities 51,0 23, ,0 29,1 1,0 0,2 Cash in hand and at banks 23,0 10,7 63,0 20,9 101,0 30,3 413,0 78,1 BALANCE SHEET TOTAL 214, , , ,0 100 SHAREHOLDERS' EQUITY AND LIABILITIES SHAREHOLDERS' EQUITY Share capital, subscribed capital of a co-operative or other capital Share premium Revaluation reserve Fair value reserve Other reserves Treasury stock or reserve fund 93,0 43,5 15,0 5,0 15,0 4,5 15,0 2,8

10 of any other capital Contingency reserve Reserves according to the articles of association or bylaws Other reserves 827, , , ,0 Retained earnings (losses) -546,0-752,0-936, ,0 Result for the fiscal period -206,0-96,3-183,0-60,6-167,0-50,2-157,0-29,7 Capital loans ACCUMULATED CLOSING ENTRIES Depreciation difference Voluntary provisions COMPULSORY PROVISIONS Pension provision Tax provision Other compulsory provisions LIABILITIES Long term liabilities Bonds and notes Convertible bonds Capital loans 66,0 19,8 0 Loans from financial institutions 17,0 7,9 130,0 43,0 163,0 48,9 163,0 30,8 Loans from pension institutions Advances received Trade payables Bills of exchange payable Loans from and other liabilities to group Loans from and other liabilities to associated Deferred tax liability Other loans and liabilities Deferred income and accrued expenses Short term liabilities Bonds and notes Convertible bonds Capital loans Loans from financial institutions 9,0 3,0 0 Loans from pension institutions Advances received 1,0 0,3 11,0 3,3 36,0 6,8 Trade payables 8,0 3,7 23,0 7,6 21,0 6,3 74,0 14,0 Bills of exchange payable Loans from and other liabilities to group Loans from and other liabilities to associated Other loans and liabilities 7,0 3,3 9,0 3,0 17,0 5,1 34,0 6,4 Deferred income and accrued expenses 14,0 6,5 25,0 8,3 34,0 10,2 31,0 5,9 BALANCE SHEET TOTAL 214, , , ,0 100

11 Company ratios Accounting period Volume Turnover EUR ,0 140,0 318,0 552,0 Change in turnover in % 96,4 27,3 127,1 73,6 Turnover/person EUR 1000 Added value, in thousand EUR/person Profitability Operating margin (EBITDA) in % -132,1-60,6-23,9-16,0 Operating result (EBIT) in % -153,0-77,5-39,5-21,6 Net result in % -153,7-77,5-40,2-22,3 Return on investment in % -119,9-82,2-63,1-46,4 Return on total assets in % -105,1-70,9-51,7-35,3 Liquidity Quick ratio 3,9 1,7 2,8 3,1 Current ratio 3,9 1,7 2,5 2,5 Solvency Equity ratio in % 78,5 34,9 6,5 38,5 Net gearing 0,0 0,8 6,9-1,1 Relative indebtedness in % 41,8 140,0 94,7 54,7 Working capital Working capital ratio in % 1,8-15,0-8,5-16,1 Inventories/turnover in % Sales receivable turnover in days Accounts payable turnover in days Ratios of the line of business Line of business Computer programming activities ( 10Â 403 pc. ) Year Companies in the line Volume Turnover EUR ,0 82,2 81,0 77,0 Change in turnover in % 2,3 0,0 3,3 0,8 Turnover/person EUR ,2 74,8 73,5 74,2 Added value, in thousand EUR/person 47,9 48,0 45,4 45,0 Profitability Operating margin (EBITDA) in % 7,7 6,9 7,4 7,1 Operating result (EBIT) in % 4,2 3,4 4,3 3,8 Net result in % 3,0 2,4 3,3 2,9 Return on investment in % 3,4 2,1 2,7 1,9 Return on total assets in % 2,6 1,5 2,0 1,5 Liquidity Quick ratio 1,8 1,7 1,8 1,8 Current ratio 1,8 1,7 1,8 1,8 Solvency

12 Equity ratio in % 52,9 53,8 55,9 57,1 Relative indebtedness in % 26,2 26,0 25,4 25,2 Working capital Working capital ratio in % 6,4 6,1 5,6 4,9 Inventories/turnover in % 2,8 2,8 2,9 2,7 Sales receivable turnover in days Accounts payable turnover in days Line of business All Payment default risk 4,0% 6,6% Bankruptcy risk 0,5% 0,6% Branch offices There is no detailed information on the company's branch offices in our database. Amount of Company Inquiries The company has been inquired 46 times during 6 months. Inquiries during 6 months July August September October November December The graphical development of inquires July August September October November December The Inquiry statistics tell about the company's activity. The information is not regarded as credit information and has therefore no affect on any classifications. The names of the inquiry makers are not in the sphere of the inspection right.