Finnish business met expectations, investments in international product business weakened profitability.

Summary

January-March

- Consolidated net sales: EUR 26.1 (33.4) million, down 21.9 per cent
- Consolidated operating profit: EUR 1.4 (2.3) million, down 37.2 per cent 
- Profitability (EBIT %): 5.4 (6.8) per cent
- Product business accounted for 27.0 (14.5) per cent
- International business accounted for 19.9 (7.5) per cent
- Earnings per share: EUR 0.04 (0.07)

As a consequence of a major reduction in demand for mobile contract engineering services, the company’s revenue and operating profit were significantly diminished from the same period last year. The Finnish business progressed according to plan during the period under review, with profitability close to good level. Finances in the period were negatively affected by investments in the international product business.

The Qt business advanced according to plan in the review period. Thanks to this unit, the proportion of the company’s product business and international business grew significantly compared to the same period in the previous year. They now form a significant portion of the company’s entire business. 

The company expects demand for Qt business to remain good and therefore the income from the business to continue developing positively for the rest of the year.

The company’s new organisation took effect at the beginning of the review period. The changeover went smoothly. The company expects its operational efficiency and income from international operations to improve and profitability to return to good level during the rest of the year.

Read more:
Interim Report Q1/2012. pdf
Interim Report presentation Q1/2012.pdf