- Business description
- Sales and net sales
- Result analysis
- Financing, cash flow and balance sheet
- Shareholders' equity of parent company
- Segment information
- Geographical areas
- Personnel
- Share and price analysis
- Shareholders
- Current authorisations
- Restructuring proceedings
- Non-Financial Information (Bookkeeping Act 3a)
- Risks and short-term uncertainty factors
- Management, auditors and corporate governance
- Events after the end of period
- Prospects in 2021
- Proposal concerning the result
- Key financial indicators and key figures per share
- Calculation of key indicators
Result analysis
The adjusted operating result was 19.3 (13.0) million and the operating result EUR 18.6 (14.4) million in the financial period. The adjusted result was EUR 14.2 million (6.3) and the result EUR 13.6 million (7.7).
The fourth quarter adjusted operating result was 4.3 (4.1) million and the operating result EUR 4.3 (4.1) million. The adjusted result was EUR 4.3 (2.8) and the result was EUR 4.3 million (2.8).
Capitalized product development expenses in the financial period were EUR 3.4 (2.9) million and EUR 0.7 (0.8) million in the fourth quarter. Amortizations on capitalized development costs during in the financial period were EUR 0.9 (0.0) million and EUR 0.3 (0.0) million in the fourth quarter.
Financial items without currency differences in financial items in the financial period were EUR -0.2 (-0.3) million and EUR 0.1 (0.1) million in the fourth quarter. Exchange rate differences in financial items in the financial period were EUR -2.5 (-2.3) million and EUR -0.3 (-0.8) million in the fourth quarter. 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.
| Income statement, key figures, M€ | ||
| 2020 | 2019 | |
| Net sales | 52.8 | 47.0 |
| Other operating income | 0.9 | 0.2 |
| Operating costs excluding one-time costs | -34.5 | -34.3 |
| Adjusted operating result, MEUR ¹ | 19.3 | 13.0 |
| One-time costs | -0.7 | 1.4 |
| Operating result | 18.6 | 14.4 |
| Financial items without foreign currency differences | -0.2 | -0.3 |
| Exchange rates gains and losses | -2.5 | -2.3 |
| Income taxes | -2.3 | -4.0 |
| Adjusted result for the period ² | 14.2 | 6.3 |
| One-time costs | -0.7 | 1.4 |
| Result for the period | 13.6 | 7.7 |
| 1 Adjusted operating result = operating result before one-time items. | ||
| 2 Adjusted result for the period = result for the period before one-time items. | ||
Financial income and expenses (net) during the financial period totalled a net loss of EUR 2.7 million (net loss of EUR 2.6 million), including following items:
| Financial income and expenses, M€ | ||
| 2020 | 2019 | |
| Interest income | 0.4 | 0.3 |
| Exchange rate gains | 3.2 | 0.2 |
| Other financial income | 0.0 | 0.0 |
| Financial income total | 3.6 | 0.5 |
| Interest expenses | -0.5 | -0.6 |
| Exchange rate losses | -5.7 | -2.4 |
| Other financial expenses | -0.1 | -0.1 |
| Financial expenses total | -6.3 | -3.1 |
| Financial items total | -2.7 | -2.6 |
Taxes for the period totalled EUR 2.3 (4.0) million, including following items:
| Taxes in income statement, M€ | ||
| 2020 | 2019 | |
| Withholding taxes paid abroad | -2.2 | -2.9 |
| Change in withholding tax accrual | 0.6 | -0.4 |
| Income taxes on the results of Group companies | -0.3 | -0.3 |
| Other items | -0.4 | -0.4 |
| Taxes in income statement, Total | -2.3 | -4.0 |
Earnings per share in the reporting period were EUR 0.05 (0.03) and equity per share at the end of the period was EUR 0.07 (0.01) .