Key figures
Key figures
Gofore Plc has prepared the following unaudited IFRS financial information to provide investors with comparative informationthe company’s key figures as at and for the six months ended 30.6.2020 with comparatives for 2019. Additionally the corresponding information for the financial year ended 31.12.2019 is included.
In addition, the IFRS key figures in the table below include as at and for the nine months ended 30.9.2020 with comparatives for 2019. Key figures for the 1.1.–30.9.2020 include the acquisition ofQentinel Finland Oy made on 1.9.2020.
Additional information on the historical financial information prepared in accordance with FAS is available on the tables at the end of this page.
IFRS Key Figures |
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| EUR thousand, unless otherwise specified | 1.1.-30.9.2020 | 1.1.-30.9.2019 | 1.1.-30.6.2020 | 1.1.-30.6.2019 | 1.1.-31.12.2019 |
| Net Sales | 53 668 | 46 800 | 37 376 | 33 453 | 64 066 |
| EBITDA | 8 275 | 6 979 | 6 102 | 5 405 | 9 223 |
| EBITDA margin -% | 15,4 % | 14,9 % | 16,3 % | 16,2 % | 14,4 % |
| EBITA, Adjusted | 7 517 | 5 964 | 5 629 | 4 835 | 7 710 |
| EBITA, Adjusted, margin -% | 14,0 % | 12,7 % | 15,1 % | 14,5 % | 12,0 % |
| EBITA | 6 495 | 5 550 | 4 911 | 4 466 | 7 296 |
| EBITA margin -% | 12,1 % | 11,9 % | 13,1 % | 13,3 % | 11,4 % |
| Operating Profit (EBIT) | 5 789 | 5 082 | 4 495 | 4 205 | 6 620 |
| Operating Profit (EBIT) margin -% | 10,8 % | 10,9 % | 12,0 % | 12,6 % | 10,3 % |
| Profit for the period | 4 203 | 3 868 | 3 236 | 3 217 | 5 096 |
| Earnings per share, EPS (diluted) * | 0,30 | 0,28 | 0,23 | 0,24 | 0,37 |
| Equity ratio -% | 47,1 % | 59,2 % | 56,9 % | 54,8 % | 58,1 % |
| Net gearing -% | -4,6 % | -21,3 % | -29,5 % | -13,3 % | -33,4 % |
| * EPS diluted equals to EPS undiluted | |||||
Formulas of Key Figures |
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| EBITDA | = | Operating profit + depreciations and amortisation | ||
| EBITDA margin, % | = | Operating profit + depreciations and amortisation | x 100 | |
| Net sales | ||||
| Operating profit before amortisation of intangible assets identified in PPA and impairment of goodwill (EBITA) | = | Operating profit + amortisation of intangible assets identified in PPA + impairment of goodwill | ||
| Operating profit before amortisation of intangible assets identified in PPA and impairment of goodwill (EBITA) margin -% | = | Operating profit + amortisation of intangible assets identified in PPA + impairment of goodwill | x 100 | |
| Net sales | ||||
| Operating Profit (EBIT) margin -% | = | Operating profit | x 100 | |
| Net sales | ||||
| Earnings per share (EPS), diluted, euros | = | Profit for the period attributable for shareholders of the company | x 100 | |
| Weighted average number of shares outstanding during the period adjusted for share issues | ||||
| Equity ratio, % | = | Shareholders equity | x 100 | |
| Balance sheet total – advances received | ||||
| Net gearing, % | = | Long term loans from credit institutions + Non-current lease liabilities + Short term loans from credit institutions + Current lease liabilities – Cash in hand and at banks – Other rights of ownership under Current and Non-current investments | x 100 | |
| Shareholder equity | ||||
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| New ESMA (European Securities and Markets Authority) guidelines on alternative performance measures have been effective from 2016 fiscal year. Gofore uses and presents operating profit before amortization of PPA (EBITA), EBITDA, ROI, ROE, equity ratio and net gearing alternative performance measures to better illustrate the operative development of its business. PPA amortizations arise from assets recognised in fair value in acquired business combinations. | |||||
| Adjusted EBITA | |||||
| The Company determines term “Adjusted EBITA” as follows: | |||||
| Reported EBITA + ( +/- costs/gains directly related to acquiring business combinations + restructuring costs of business structure – gains of sales of fixed assets + losses of sales of fixed assets). | |||||
| Adjusted EBITA (IFRS): | |||||
| 1.1.-30.9.2020 | 1.1.-30.9.2019 | 1.1.-30.6.2020 | 1.1.-30.6.2019 | 1.1.-31.12.2019 | |
| EBITA | 6 495 | 5 550 | 4 911 | 4 466 | 7 296 |
| Direct costs related to acquiring business combinations | 304 | 414 | 0 | 369 | 414 |
| Restructuring costs of business structure | 718 | 0 | 718 | 0 | 0 |
| Gains of sales of fixed assets | 0 | 0 | 0 | 0 | 0 |
| Losses of sale of fixed assets | 0 | 0 | 0 | 0 | 0 |
| Adjusted EBITA | 7 517 | 5 964 | 5 629 | 4 835 | 7 710 |
| EBITA, Adjusted, margin -%: | |||||
| Adjusted EBITA | 7 517 | 5 964 | 5 629 | 4 835 | 7 710 |
| Net sales | 53 668 | 46 800 | 37 376 | 33 453 | 64 066 |
| EBITA, Adjusted, margin -% | 14,0 % | 12,7 % | 15,1 % | 14,5 % | 12,0 % |
Additional information on the historical financial information prepared in accordance with FAS is available below:
Reported |
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| 1.1.–31.12. | |||||||||
| 2019 | 2018 | 2017 | 2016 | 2015 | |||||
| EUR, million, unless otherwise stated | Unaudited unless otherwise stated | ||||||||
| Net sales | 64.11) | 50.61) | 34.01) | 18.61) | 12.41) | ||||
| Net sales growth, % | 26.7 | 49.0 | 82.4 | 49.9 | – | ||||
| EBITDA 2) | 8.2 | 7.0 | 5.8 | 2.7 | 1.6 | ||||
| EBITDA-margin, %2) | 12.8 | 13.8 | 17.1 | 14.6 | 12.9 | ||||
| Operating profit before amortization of goodwill (EBITA)2) | 8.0 | 6.8 | 5.7 | 2.6 | 1.6 | ||||
| Operating profit before amortization of goodwill (EBITA) margin, %2) | 12.5 | 13.4 | 16.8 | 14.1 | 12.5 | ||||
| Operating profit (EBIT) | 6.11) | 6.11) | 5.41) | 2.61) | 1.61) | ||||
| Operating profit (EBIT) margin | 9.5 | 12.0 | 15.81) | 14.1 | 12.51) | ||||
| Profit for the period | 4.41) | 4.71) | 3.31) | 2.11) | 1.21) | ||||
| Adjusted profit for the period2) | 6.3 | 5.4 | 4.8 | 2.1 | 1.2 | ||||
| Earnings per share (EPS), undiluted, euro2) | 0.33 | 0.36 | 0.28 | 0.20 | 0.12 | ||||
| Adjusted earnings per share (adjusted EPS), undiluted, euro2) | 0.47 | 0.41 | 0.41 | 0.20 | 0.12 | ||||
| Number of shares outstanding at the end of the period (adjusted for share split) | 14,012,628 | 13,116,982 | 12,948,800 | 10,560,000 | 10,560,000 | ||||
| Equity ratio, %2) | 64.6 | 63.8 | 60.8 | 54.1 | 49.8 | ||||
| Net gearing, % 2) | -51.0 | -51.2 | -47.3 | -97.9 | -90.6 | ||||
| Return on equity (ROE), % 2) | 16.6 | 23.8 | 30.31) | 63.3 | 57.31) | ||||
| Return on investment (ROI), % 2) | 18.7 | 24.9 | 22.5 | 77.1 | 65.8 | ||||
| Number of employees at the end of the period | 582 | 495 | 374 | 196 | 132 | ||||
1) Audited
2) Alternative performance measure. The Company presents alternative performance measures as additional information to financial measures presented in the consolidated statement of income, consolidated statement of financial position and consolidated statement of cash flows prepared in accordance with FAS. In the Company’s view, the alternative performance measures provide management, investors, securities analysts and other parties with significant additional information related to the Company’s results of operations, financial position and cash flows.
Calculation of key figures (FAS)
| Net sales growth, % | =( | Net sales of the reporting period
Net sales of the reference period |
– 1) x 100 |
| EBITDA | = | Operating profit + deprecation and amortization | |
| EBITDA margin, % | = | Operating profit + deprecation and amortization
Net sales |
x 100 |
| Operating profit before amortization of goodwill (EBITA) | = | Operating profit + amorization of goodwill | |
| Operating profit before amortization of goodwill (EBITA) margin, % | = | Operating profit + amortization of goodwill
Net sales |
x 100 |
| Adjusted profit for the period | = | Profit for the period + amortization of goodwill + extraordinary financial expenses 1) | |
| Equity ratio, % | = | Shareholders’ equity
Balance sheet total – advances received |
x 100 |
| Net gearing, % | = | Long term loans from credit institutions + Short term loans from credit institutions – Cash in hand and at banks – Other rights of ownership under Non-current investments
Shareholders’ equity |
x 100 |
| Return on equity (ROE), % | = | Profit for the period (annualized)
Average shareholders’ equity |
x 100 |
| Return on investment (ROI), % | = | Profit before taxes (annualized) + financial income and expenses (annualized)
Average shareholders’ equity + average interest-bearing debt |
x 100 |
| Earnings per share (EPS), undiluted, euro | = | Profit for the period
Average number of shares outstanding during the period (adjusted for share split) |
x 100 |
| Adjusted earnings per share (adjusted EPS), undiluted, euro | = | Adjusted profit for the period
Average number of shares outstanding during the period (adjusted for share split) |