Key figures

One of our operational principles is constant regeneration. Every year, we review new strategic development targets, identify and develop them and thereby aim to reinforce our position in the focus market. We aim to achieve strong, organic growth, internationalisation and growth through business acquisitions.

Reported

1.1.–30.9. 1.1.–31.12.
20171) 2016 2016 2015
Euro, millions, unless otherwise stated Unaudited Unaudited unless otherwise stated
Net sales 22,7 12,9 18,6 2) 12,4 2)
Net sales growth, % 76,0 49,9
EBITDA 3) 4,1 1,9 2,7 1,6
EBITDA -margin, % 3) 18,1 14,9 14,6 12,9
Operating profit before amortization of goodwill (EBITA) 3) 4,0 1,9 2,6 1,6
Operating profit before amortization of goodwill (EBITA) margin, % 3) 17,7 14,4 14,1 12,5
Operating profit (EBIT) 3,8 1,9 2,6 2) 1,6 2)
Operating profit (EBIT) margin 16,9 14,4 14,1 12,5 2)
Profit for the period 2,9 1,5 2,1 2) 1,2 2)
Adjusted profit for the period 3) 3,3 1,5 2,1 1,2
Earnings per share (EPS), undiluted, euro 3) 0,27 0,14 0,20 0,12
Adjusted earnings per share (adjusted EPS), undiluted, euro 3) 0,30 0,14 0,20 0,12
Number of shares outstanding at the end of the period (adjusted for share split) 11 338 800 10 560 000 10 560 000 10 560 000
Equity ratio, % 3) 39,6 54,1 49,8 2)
Net gearing, % 3) 20,7 – 97,9 – 90,6
Return on equity (ROE), % 3) 4) 67,3 63,3 57,3 2)
Return on investment (ROI), % 3) 4) 54,3 77,1 65,8
Number of employees at the end of the period 354  185 196 132

1) Figures presented for nine months ending on 30.9.2017 are consolidated figures. Leadin group is consolidated from 1.6.2017 onwards in the figures presented for nine months ending on 30.9.2017.

2) Audited

3) 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.

4) Annualized

The following tables present certain alternative pro forma key figures for the nine months ended 30 September 2017 and for the financial year ended 31 December 2016. The alternative pro forma key figures should be not be considered in isolation or as substitute to the measures under Finnish Accounting Standards (“FAS”). The unaudited pro forma information has been prepared to illustrate what the results of operation of Gofore might have been if the acquisition of the Leadin Group had occurred earlier. The pro forma financial information is presented only to illustrate the effects of the acquisition. Because of its nature the information addresses a hypothetical situation and therefore, does not represent the Company’s actual results of operations. The information does not purport to represent the Group’s results of operations for any future period nor do they reflect the effect of estimated synergies and improved efficiency of operations associated with the acquisition. During the presented pro forma periods (excluding June-September 2017), the companies combined in the pro forma financial information have not shared a common decision making organisation, strategy, financial or operational targets, nor have their financial situation or business operations been managed based on the same principles.

Pro forma

1.1.–30.9. 1.1.–31.12.
20171) 2016 2016 2015
Euro, millions, unless otherwise stated Unaudited Unaudited unless otherwise stated
Pro forma net sales 26,1 22,8
Pro forma EBITDA 2) 4,9 3,3
Pro forma EBITDA margin, % 2) 18,8 14,3
Pro forma operating profit before amortization of goodwill (EBITA) 2) 4,8 3,2
Pro forma operating profit before amortization of goodwill (EBITA) margin, % 2) 18,4 13,8
Pro forma operating profit (EBIT) 4,4 2,6
Pro forma operating profit (EBIT) margin 16,7 11,3
Pro forma profit for the period 3,3 1,9
Adjusted pro forma profit for the period 2) 3,9 2,5
Adjusted pro forma earnings per share (adjusted EPS), undiluted, euro 2) 0,35 0,24

1) Figures presented for nine months ending on 30.9.2017 are consolidated figures. Leadin group is consolidated from 1.6.2017 onwards in the figures presented for nine months ending on 30.9.2017.

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

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)

1)  Extraordinary financial expenses are expenses relating to the potential IPO and the preparation of it

Calculation of pro forma key figures

Pro forma EBITDA = Pro forma operating profit + pro forma deprecation and amortization
Pro forma EBITDA margin, % =

Pro forma operating profit + pro forma deprecation and amortization


Pro forma net sales

 x 100
Pro forma operating profit before amortization of goodwill (EBITA) = Pro forma operating profit + pro forma amortization of goodwill
Pro forma operating profit before amortization of goodwill (EBITA) margin, % =

Pro forma operating profit + pro forma amortization of goodwill


Pro forma net sales

x 100
Adjusted pro forma profit for the period = Pro forma profit for the period + pro forma amortization of goodwill + extraordinary financial expenses 1)
Adjusted pro forma earning per share (adjusted EPS), undiluted, euro =

Adjusted pro forma profit for the period


Average number of shares outstanding during the period (adjusted for share split)

1)  Extraordinary financial expenses are expenses relating to the potential IPO and the preparation of it