Solteq Plc's Financial Statements Bulletin January 1 - December 31, 2019

Stock Exchange Bulletin February 27, 2020 at 8.00 am

HELSINKI, Feb. 27, 2020 /PRNewswire/ -- 2019 - a year of international business growth and innovation 

October-December

• Revenue totaled 15,708 thousand euros (14,930).
• EBITDA was 4,387 thousand euros (1,146).
• Operating profit was 3,328 thousand euros (645).
• The SAP ERP business was transferred to Enfo Oyj on January 1, 2020. The capital gain from the divestment improved the Group's EBITDA and operating profit by 2,515 thousand euros.
• The implementation of IFRS 16 standard improved EBITDA by 490 thousand euros and the operating profit by 46 thousand euros during the fourth quarter.*
• Earnings per share was 0.11 euros (0.01).

January-December

• Revenue totaled 58,291 thousand euros (56,867).
• EBITDA was 9,714 thousand euros (4,766).
• Operating profit was 5,711 thousand euros (2,466).
• The SAP ERP business was transferred to Enfo Oyj on January 1, 2020. The capital gain from the divestment improved the Group's EBITDA and operating profit by 2,515 thousand euros.
• The implementation of IFRS 16 standard improved EBITDA by 1,899 thousand euros and the operating profit by 185 thousand euros during the review period.*
• Earnings per share was 0.15 euros (0.02).
• Solteq Group's equity ratio was 32.0 percent (32.4).
• The Group's equity ratio excluding the impact from adopting the IFRS 16 standard would have been 34.6 percent during the review period.*
• Net cash flow from operating activities was 4,128 thousand euros (8,002).
• The revenue was 2.5 percent higher than in the comparison period. Continuous services accounted for approximately one third of the revenue.
• The company invested strongly in future growth by focusing on the development of our own cloud-based software products and services. During the review period the product development investments amounted to 3.9 million euros (2.3).

*Solteq Group implemented the IFRS 16 Leases standard effective from January 1, 2019. The new standard was implemented using the modified retrospective approach, in which the comparative figures for prior financial periods were not restated.