Annual Report 2020
Report by the Board of Directors
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Financial Performance in January-December 2020

Consolidated statement of comprehensive income, MEUR 2020 2019
  12 months 12 months 
     Net sales 78.4 75.2
     Operating profit / loss 2.1 6.3
     Financial income and expenses -0.4 -0.4
     Result before tax 1.6 5.9
Result for the period 2.2 7.6
Total comprehensive income for the period 1.9 7.7
     
Result for the period attributable to:    
     Equity holders of the parent 2.2 7.6
Total comprehensive income for the period attributable to:    
     Equity holders of the parent 1.9 7.7
     
Earnings per share from continuing operations, EUR 0.061 0.214
     
  • Cash flow from operating activities was EUR 6.9 million (EUR 9.6 million).
  • Net cash flow during the period was EUR -10.5 million, including the most significant item as EUR 13.6 million R&D investments into own products (EUR 4.3 million, including the most significant items as withdrawal of a EUR 20.0 million bank loan, EUR 15.6 million R&D investments into own products, and the EUR 5.4 million dividend payment).
  • Equity ratio was 73.1 percent (73.4 percent).
  • Net gearing was -1.9 percent (-11.2 percent).

Half Year Figures

Group's net sales and operating result, MEUR  2H/20 1H/20 2H/19 1H/19
Net sales 35.8 42.5 42.2 33.1
Operating profit (loss) -0.8 2.9 4.7 1.7
Result before taxes -0.9 2.5 4.4 1.5
Result for the period -0.4 2.5 6.1 1.5
         
Distribution of net sales by product and services, MEUR and % 2H/20 1H/20 2H/19 1H/19
Product based netsales 23.0
64.3 %
30.1
70.7 %
30.8
73.1 %
18.6
56.1 %
Services based net sales 12.8
35.7 %
12.5
29.3 %
11.4
27.1 %
14.5
43.9 %
         
Distribution of net sales by market areas, MEUR and %  2H/20 1/20 2H/18 1H/18
Asia 0.2
0.5%
0.2
0.4%
0.1
0.3%
0.2
0.5%

Americas
6.4
17.8%
7.1
16.7%
12.7
30.2%
5.8
17.5%

Europe
29.3
81.7%
35.2
82.8%
29.3
69.6%
27.1
82.0%

 
 

Quarterly Figures

Group's net sales and operating result, MEUR  4Q/20 3Q/20 2Q/20 1Q/20 4Q/19
Net sales 21.8 14.0 25.3 17.3 26.9
Operating profit (loss) 0.3 -1.0 2.7 0.2 4.1
Result before taxes 0.2 -1.0 2.7 -0.2 3.9
Result for the period 0.7 -1.0 2.7 -0.2 5.6
           
Distribution of net sales by product and services, MEUR and % 4Q/20 3Q/20 2Q/20 1Q/20 4Q/19
Product based netsales 14.5
66.5 %
8.5
60.9 %
18.4
73.0 %
11.7
67.4 %
20.1
74.5 %
Services based net sales 7.3
33.5 %
5.5
39.1 %
6.8
27.0 %
5.6
32.6 %
6.8
25.5 %
           
Distribution of net sales by market areas, MEUR and %  4Q/20 3Q/20 2Q/20 1Q/20 4Q/19
Asia 0.1
0.5%
0.1
0.5%
0.1
0.4%
0.1
0.4%
0.1
0.3%

Americas
2.9
13.3%
3.5
24.8%
2.2
8.8%
 4.9
28.3%
5.0
18.7%

Europe
18.8
86.2%
10.5
74.7%
22.9
90.8%
12.3
71.3%
21.8
81.0%

Unless otherwise mentioned, the figures in brackets refer to the corresponding period in the previous year.