Aspocomp Group Plc's restated financial information

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Brandon Lester
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1 Aspocomp Group Plc's restated financial information Comparisons between IFRS 15 restated financial information and previously reported financial reports for 2017 are presented in the following tables. PROFIT & LOSS STATEMENT / /2017 Net sales 5, % , % Other operating income 19 0% % Materials and services -2,650-45% ,502-44% Personnel expenses -1,536-26% 0 0-1,536-27% Other operating costs -1,189-20% ,180-21% Depreciation and amortization % % Operating result 249 4% % Financial income and expenses -12 0% % Profit/loss before tax 237 4% % Income taxes -2 0% % Profit/loss for the period 236 4% % Other comprehensive income Items that will not be reclassified to profit or loss 0 0% % Items that may be reclassified subsequently to profit or loss: Currency translation differences 1 0% % Total other comprehensive income 1 0% % Total comprehensive income 236 4% % Earnings per share (EPS) Basic EPS Diluted EPS

2 2 PROFIT & LOSS STATEMENT / /2017 Net sales 5, % , % Other operating income 2 0% % Materials and services -2,639-46% ,541-45% Personnel expenses -1,643-29% 0 0-1,643-29% Other operating costs -1,077-19% ,076-19% Depreciation and amortization % % Operating result 94 2% % Financial income and expenses -13 0% % Profit/loss before tax 81 1% % Income taxes -2 0% % Profit/loss for the period 79 1% % Other comprehensive income Items that will not be reclassified to profit or loss 0 0% % Items that may be reclassified subsequently to profit or loss: Currency translation differences 5 0% % Total other comprehensive income 5 0% % Total comprehensive income 84 1% % Earnings per share (EPS) Basic EPS Diluted EPS

3 3 PROFIT & LOSS STATEMENT / /2017 Net sales 11, % , % Other operating income 21 0% % Materials and services -5,289-46% ,043-45% Personnel expenses -3,179-27% 0 0-3,179-28% Other operating costs -2,267-20% ,255-20% Depreciation and amortization % % Operating result 343 3% % Financial income and expenses -25 0% Profit/loss before tax 319 3% % Income taxes -3 0% % Profit/loss for the period 315 3% % Other comprehensive income Items that will not be reclassified to profit or loss 0 0% % Items that may be reclassified subsequently to profit or loss: Currency translation differences 5 0% % Total other comprehensive income 5 0% % Total comprehensive income 320 3% % Earnings per share (EPS) Basic EPS Diluted EPS

4 4 PROFIT & LOSS STATEMENT / /2017 Net sales 6, % , % Other operating income 1 0% % Materials and services -3,155-52% ,610-47% Personnel expenses -1,486-25% 0 0-1,486-27% Other operating costs -1,018-17% % Depreciation and amortization % % Operating result 95 2% % Financial income and expenses -16 0% % Profit/loss before tax 79 1% % Income taxes 0 0% % Profit/loss for the period 78 1% % Other comprehensive income Items that will not be reclassified to profit or loss 0 0% % Items that may be reclassified subsequently to profit or loss: Currency translation differences -3 0% % Total other comprehensive income -3 0% % Total comprehensive income 76 1% % Earnings per share (EPS) Basic EPS Diluted EPS

5 5 PROFIT & LOSS STATEMENT / /2017 Net sales 17, % , % Other operating income 22 0% % Materials and services -8,444-48% ,653-46% Personnel expenses -4,665-26% 0 0-4,665-28% Other operating costs -3,285-19% ,253-19% Depreciation and amortization % % Operating result 438 2% % Financial income and expenses -41 0% % Profit/loss before tax 397 2% % Income taxes -4 0% % Profit/loss for the period 393 2% % Other comprehensive income Items that will not be reclassified to profit or loss 0 0% % Items that may be reclassified subsequently to profit or loss: Currency translation differences 2 0% % Total other comprehensive income 2 0% % Total comprehensive income 396 2% Earnings per share (EPS) Basic EPS Diluted EPS

6 6 PROFIT & LOSS STATEMENT / /2017 Net sales 6, % , % Other operating income 2 0% % Materials and services -2,906-46% ,864-46% Personnel expenses -1,628-26% 0 0-1,628-26% Other operating costs -1,101-17% ,085-18% Depreciation and amortization % % Operating result 407 6% % Financial income and expenses -12 0% % Profit/loss before tax 395 6% % Income taxes 481 8% % Profit/loss for the period % % Other comprehensive income Items that will not be reclassified to profit or loss 0 0% % Items that may be reclassified subsequently to profit or loss: Remeasurements of employee benefits -41-1% % Currency translation differences 3 0% % Total other comprehensive income -38-1% % Total comprehensive income % % Earnings per share (EPS) Basic EPS Diluted EPS

7 7 PROFIT & LOSS STATEMENT / /2017 Net sales 23, % , % Other operating income 24 0% % Materials and services -11,350-47% ,518-46% Personnel expenses -6,294-26% 0 0-6,294-27% Other operating costs -4,385-18% ,338-19% Depreciation and amortization -1,074-4% 0 0-1,074-5% Operating result 845 4% % Financial income and expenses -53 0% % Profit/loss before tax 792 3% % Income taxes 477 2% % Profit/loss for the period 1,269 5% ,180 5% Other comprehensive income Items that will not be reclassified to profit or loss 0 0% % Items that may be reclassified subsequently to profit or loss: Remeasurements of employee benefits -41 0% % Currency translation differences 5 0% % Total other comprehensive income -36 0% % Total comprehensive income 1,233 5% ,144 5% Earnings per share (EPS) Basic EPS Diluted EPS

8 8 CONSOLIDATED BALANCE SHEET IFRS 9 IFRS 15 Reported /2017 3/2017 Assets Non-current assets Intangible assets 3, ,255 Tangible assets 2, ,297 Available for sale investments Deferred income tax assets 3, ,017 Total non-current assets 8, ,584 Current assets Inventories 2, ,549 Short-term receivables 3, ,777 Cash and bank deposits Total current assets 6, ,793 Total assets 15, ,378 Equity and liabilities Share capital 1, ,000 Reserve for invested non-restricted equity 4, ,261 Retained earnings 5, ,562 Total equity 10, ,823 Long-term financing loans Other non-current liabilities Deferred income tax liabilities Short-term financing loans Trade and other payables 3, ,084 Total liabilities 4, ,555 Total equity and liabilities 15, ,378

9 9 CONSOLIDATED BALANCE SHEET IFRS 9 IFRS 15 Reported /2017 6/2017 Assets Non-current assets Intangible assets 3, ,253 Tangible assets 2, ,179 Available for sale investments Deferred income tax assets 3, ,017 Total non-current assets 8, ,465 Current assets Inventories 2, ,693 Short-term receivables 4, ,995 Cash and bank deposits Total current assets 7, ,174 Total assets 15, ,639 Equity and liabilities Share capital 1, ,000 Reserve for invested non-restricted equity 4, ,266 Retained earnings 5, ,615 Total equity 10, ,881 Long-term financing loans Other non-current liabilities Deferred income tax liabilities Short-term financing loans Trade and other payables 3, ,439 Total liabilities 4, ,758 Total equity and liabilities 15, ,639

10 10 CONSOLIDATED BALANCE SHEET IFRS 9 IFRS 15 Reported /2017 9/2017 Assets Non-current assets Intangible assets 3, ,247 Tangible assets 2, ,204 Available for sale investments Deferred income tax assets 3, ,017 Total non-current assets 8, ,484 Current assets Inventories 2, ,991 Short-term receivables 4, ,988 Cash and bank deposits Total current assets 7, ,424 Total assets 15, ,908 Equity and liabilities Share capital 1, ,000 Reserve for invested non-restricted equity 4, ,472 Retained earnings 5, ,754 Total equity 11, ,226 Long-term financing loans Other non-current liabilities Deferred income tax liabilities Short-term financing loans Trade and other payables 3, ,346 Total liabilities 4, ,682 Total equity and liabilities 15, ,908

11 11 CONSOLIDATED BALANCE SHEET IFRS 9 IFRS 15 Reported / /2017 Assets Non-current assets Intangible assets 3, ,268 Tangible assets 2, ,572 Available for sale investments Deferred income tax assets 3, ,501 Total non-current assets 9, ,356 Current assets Inventories 1, ,755 Short-term receivables 5, ,920 Cash and bank deposits Total current assets 8, ,059 Total assets 17, ,415 Equity and liabilities Share capital 1, ,000 Reserve for invested non-restricted equity 4, ,478 Remeasurements of employee benefits Retained earnings 6, ,570 Total equity 12, ,007 Long-term financing loans 1, ,003 Other non-current liabilities Deferred income tax liabilities Short-term financing loans Trade and other payables 3, ,473 Total liabilities 5, ,408 Total equity and liabilities 17, ,415

12 12 CONSOLIDATED CASH FLOW STATEMENT Restated Reported / /2017 Profit for the period Adjustments Change in working capital Received interest income Paid interest expenses Paid taxes Cash flow from operating activities Investments Proceeds from sale of property, plant and equipment Cash flow from investing activities Increase in financing Decrease in financing Stock options exercised Cash flow from financing activities Change in cash and cash equivalents Cash and cash equivalents at the beginning of period Cash and cash equivalents at the end of period CONSOLIDATED CASH FLOW STATEMENT / /2017 Profit for the period Adjustments Change in working capital Received interest income Paid interest expenses Paid taxes Cash flow from operating activities 1, ,081 Investments Proceeds from sale of property, plant and equipment Cash flow from investing activities Increase in financing Decrease in financing Stock options exercised Cash flow from financing activities Change in cash and cash equivalents Cash and cash equivalents at the beginning of period Cash and cash equivalents at the end of period

13 13 CONSOLIDATED CASH FLOW STATEMENT / /2017 Profit for the period Adjustments Change in working capital Received interest income Paid interest expenses Paid taxes Cash flow from operating activities 1, ,141 Investments Proceeds from sale of property, plant and equipment Cash flow from investing activities Increase in financing Decrease in financing Stock options exercised Cash flow from financing activities Change in cash and cash equivalents Cash and cash equivalents at the beginning of period Cash and cash equivalents at the end of period CONSOLIDATED CASH FLOW STATEMENT / /2017 Profit for the period 1, ,180 Adjustments Change in working capital -1, Received interest income Paid interest expenses Paid taxes Cash flow from operating activities Investments Proceeds from sale of property, plant and equipment Cash flow from investing activities Increase in financing Decrease in financing Stock options exercised Cash flow from financing activities Change in cash and cash equivalents Cash and cash equivalents at the beginning of period Cash and cash equivalents at the end of period

14 Share capital Other reserve Translation differences Retained earnings Total equity 14 CONSOLIDATED CHANGES IN EQUITY January-March Balance at Jan. 1, ,000 4, ,386 10,639 Comprehensive income Comprehensive income for the period Ifrs 9 impact Ifrs 15 impact Other comprehensive income for the period, net of tax Translation differences 1 1 Total comprehensive income for the period Business transactions with owners Share-based payment Business transactions with owners, total Balance at March 31, ,000 4, ,621 10,881 January-March 2016 Balance at Jan. 1, ,000 4, ,351 9,465 Comprehensive income Comprehensive income for the period Other comprehensive income for the period, net of tax Translation differences 2 2 Total comprehensive income for the period Business transactions with owners Share-based payment Business transactions with owners, total Balance at March 31, ,000 4, ,884 9,012

15 Share capital Other reserve Translation differences Retained earnings Total equity 15 CONSOLIDATED CHANGES IN EQUITY January-June Balance at Jan. 1, ,000 4, ,386 10,639 Comprehensive income Comprehensive income for the period Ifrs 9 impact Ifrs 15 impact Other comprehensive income for the period, net of tax Translation differences 5 5 Total comprehensive income for the period Business transactions with owners Share-based payment Business transactions with owners, total Balance at June 30, ,000 4, ,701 10,971 January-June 2016 Balance at Jan. 1, ,000 4, ,351 9,465 Comprehensive income Comprehensive income for the period Other comprehensive income for the period, net of tax Translation differences 2 2 Total comprehensive income for the period Business transactions with owners Share-based payment Business transactions with owners, total Balance at June 30, ,000 4, ,027 9,168

16 Share capital Other reserve Translation differences Retained earnings Total equity 16 CONSOLIDATED CHANGES IN EQUITY January-September Balance at Jan. 1, ,000 4, ,386 10,639 Comprehensive income Comprehensive income for the period Ifrs 9 impact Ifrs 15 impact Other comprehensive income for the period, net of tax Translation differences 2 2 Total comprehensive income for the period Business transactions with owners Share-based payment Business transactions with owners, total Balance at September 30, ,000 4, ,779 11,253 January-September 2016 Balance at Jan. 1, ,000 4, ,351 9,465 Comprehensive income Comprehensive income for the period Other comprehensive income for the period, net of tax Translation differences 3 3 Total comprehensive income for the period Business transactions with owners Share-based payment Business transactions with owners, total Balance at September 30, ,000 4, ,159 9,313

17 Share capital Other reserve Remeasuremet s of empolyee benefits Translation differences Retained earnings Total equity 17 CONSOLIDATED CHANGES IN EQUITY January-December Balance at Jan. 1, ,000 4, ,386 10,639 Comprehensive income Comprehensive income for the period 1,180 1,180 Ifrs 9 impact Ifrs 15 impact Other comprehensive income for the period, net of tax Remeasurements of employee benefits Translation differences 5 5 Total comprehensive income for the period ,269 1,234 Business transactions with owners Share-based payment Business transactions with owners, total Balance at December 31, ,000 4, ,655 12,096 January-December 2016 Balance at Jan. 1, ,000 4, ,351 9,465 Comprehensive income Comprehensive income for the period 1,034 1,034 Other comprehensive income for the period, net of tax Translation differences Total comprehensive income for the period ,034 1,036 Business transactions with owners Share-based payment Business transactions with owners, total Balance at December 31, ,000 4, ,386 10,639 ASPOCOMP A SERVICE COMPANY SPECIALIZING IN PCB TECHNOLOGIES A printed circuit board (PCB) is used for electrical interconnection and as a component assembly platform in electronic devices. Aspocomp provides PCB technology design, testing and logistics services over the entire lifecycle of a product. The company s own production and extensive international partner network guarantee cost-effectiveness and reliable deliveries. Aspocomp s customers are companies that design and manufacture telecommunication systems and equipment, automotive and industrial electronics, and systems for testing

18 18 semiconductor components for security technology. The company has customers around the world and most of its net sales are generated by exports. Aspocomp is headquartered in Espoo and its plant is in Oulu, one of Finland s major technology hubs. Some statements in this stock exchange release are forecasts and actual results may differ materially from those stated. Statements in this stock exchange release relating to matters that are not historical facts are forecasts. All forecasts involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performances or achievements of the Aspocomp Group to be materially different from any future results, performances or achievements expressed or implied by such forecasts. Such factors include general economic and business conditions, fluctuations in currency exchange rates, increases and changes in PCB industry capacity and competition, and the ability of the company to implement its investment program.

ASPOCOMP S HALF YEAR FINANCIAL REPORT 2016

ASPOCOMP S HALF YEAR FINANCIAL REPORT 2016 Key figures 4-6/2016 in brief 4-6/2016 4-6/2015 Change Net sales 5.3 M 4.4 M 1.0 M EBITDA 0.4 M -0.2 M 0.6 M Comparable operating result 0.2 M -0.3 M 0.5 M %