Clear rise in net sales (12.9%), profitability remains good (13.6%)SummaryJanuary-June
- Consolidated net sales: EUR 67.8 million, up 9.7 per cent
- Consolidated operating profit: EUR 9.5 million, up 16.6 per cent
- Profitability (EBIT %): 13.9 per cent (13.1 per cent)
- Product business accounted for 15.6 per cent (16.5 per cent)
- Earnings per share: EUR 0.30, up 20.0 per cent
- Consolidated net sales: EUR 35.0 million, up 12.9 per cent
- Consolidated operating profit: EUR 4.8 million, up 7.6 per cent
- Profitability (EBIT %): 13.6 per cent (14.3 per cent)
- Product business accounted for 14,9 per cent (18.9 per cent)
- Earnings per share: EUR 0.15, up 7.1 per cent
In the first half of the year, the company succeeded well in its objective of profitably increasing its consolidated net sales. While the growth in net sales clearly exceeded the general market growth rate, the company also maintained a good level of profitability, even managing to increase it somewhat over the same period last year. Operating profit and earnings per share improved considerably. Business growth was even faster in the second quarter than the first quarter.
Cash flow from operations was decidedly positive in the review period, which meant that the company was able to reduce its liabilities by a total of EUR 6 million. After these repayments, the company had a total of EUR 23.0 million in loans from financial institutions at the end of the review period.
For the rest of 2010, Digia predicts continued moderate growth in overall demand for IT services, at a rate of approx. 2-4 per cent above 2009 levels. The company will continue to develop its sales and increase its operational efficiency, aiming for organic growth at a rate equaling or exceeding the general market rate. Operational profitability is also expected to remain good, taking into account the usual weakening effect of the staff vacation period on third-quarter net sales and profit.