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Result analysis

Tecnotree reports its result as follows:

INCOME STATEMENT, KEY FIGURES, MEUR 2017 2016
Net sales 55.1 60.1
Other operating income 0.2 0.3
Operating costs excluding one-time costs -45.5 -59.1
Adjusted operating result, MEUR ¹ 9.8 1.2
One-time costs -17.8 -11.3
OPERATING RESULT -8.0 -10.1
Financial items without foreign currency differences -0.8 -4.1
Exchange rates gains and losses -1.8 -0.7
Income taxes -5.0 -0.6
Adjusted result for the period ² 2.3 -4.2
Debt restructuring income in financial items, one-time
9.3
RESULT FOR THE PERIOD -15.5 -6.3



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 55.1 (60.1). The adjusted operating result was 9.8 (1.2) million and the operating result EUR -8.0 (-10.1) million. The adjusted result for the period was EUR 2.3 million (-4.2) and the result for the financial period was EUR -15.5 million (-6.3)

In the fourth quarter, exchange rate differences were EUR -0.4 (0.6) million and in the financial period EUR -1.8 (-0.7) 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 2.5 million (net profit of EUR 4.5 million). Here is a breakdown of these:

 

FINANCIAL INCOME AND EXPENSES, MEUR 2017 2016
Interest income 0.2 0.1
Exchange rate gains 0.1 0.1
Other financial income 0.0 6.7
FINANCIAL INCOME, TOTAL 0.4 6.9
Interest expenses -0.6 0.3
Exchange rate losses -1.9 -0.7
Other financial expenses -0.4 -2.0
FINANCIAL INCOME, TOTAL -2.9 -2.4
FINANCIAL ITEMS TOTAL -2.5 4.5

 

Other financial expenses, excluding interest expenses and exchange rate losses, were EUR 0.0 (0.1) million during the fourth quarter and to EUR 0.4 (EUR 2.0 of which EUR 1.8 million was related to additional cost for using an exceptional procedure to repatriate funds from a country that has a lack of foreign currency ) million during the financial period. 

Taxes for the period totalled EUR 0.6 (7.6) million, including the following

TAXES IN INCOME STATEMENT, MEUR 2017 2016
Withholding taxes paid abroad -4.6 -4.5
Change in withholding tax accrual 0.2 4.3
Income taxes on the results of Group companies -0.5 -0.4
Prior year taxes 0.0 0.0
Change in Indian deferred tax assets 0.0 0.0
TAXES IN INCOME STATEMENT, TOTAL -5.0 -0.6

 

Earnings per share were EUR -0.13 (-0.05). Equity per share at the end of the period was EUR -0.05 (EUR 0.09).