Solteq’s year 2015

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Solteq’s revenue amounted to 54.2 million euro, an increase of 32.4% from the previous year

The acquisition of the Descom Group in July 2015 contributed to the increase in the revenue.

Solteq’s operating profit before non-recurring costs due to the company acquisition and integration grew to 3.0 million euro from the 2.5 million euro of the reference year. The company’s operating profit percentage before non-recurring costs was 5.5% (6.1% in 2014). The non-recurring costs due to the company acquisition and integration stood at 1.7 million euro.

The acquisition of the Descom Group in July 2015 had a major impact Solteq’s operations and financial figures in 2015. The acquisition enabled Solteq to transform into a digital commerce service company and almost doubled its size from the previous year in terms of pro forma figures. The result for 2015 is burdened by the costs due to the company acquisition and integration, but we estimate that most of the cost synergy savings will already materialise during 2016.

The company acquisition also affected the Group’s balance sheet structure. At closing date, the equity ratio was 24% (48%). At the same time, the gearing ratio increased to 167 percent from the previous year’s 16 percent. Solteq’s Board of Directors proposes that no dividends (EUR 0.03/share) be distributed for the financial year 2015.

Learn more about the key figures and the various segments.

Revenue (Million EUR)

Operating profit before non-recurring items (Million EUR)

Equity ratio (%)

Number of employees

Segment revenue (Million EUR)

Segment operating profit (Million EUR)

Solteq’s Grocery and Special Retail, HoReCa

In the financial year 2015, the revenue of the Grocery and Special Retail, HoReCa Segment amounted to 19.3 million euro (20.5 million euro). The operating profit of the segment was 0.9 million euro (1.2 million euro).

The decrease in the revenue was mainly due to postponements in decision-making schedules related to client projects based on new sales in the early part of the review period. Towards the end of the review period, a large number of the projects were already underway. Postponements in the implementation schedules of certain client projects affected the result for the review period.

 

Wholesale, Logistics and Services Solteq’s

During the financial year, the revenue of the Wholesale, Logistics and Services Segment amounted to 12.0 million euro (15.4 million euro). The operating profit of the segment was 0.8 million euro (0.6 million euro).

The revenue development was affected by slow decision making processes related to the business operations in certain major client projects. The completion of the projects also consumed the segment’s human resources. The improvement in the operating result was mainly due to the development of the cost structure and improved resource utilisation.

 

Enterprise Asset & Service Business Management Segment

During the financial year, the revenue of the Enterprise Asset and Service Business Management Segment amounted to 4.9 million euro (5.0 million euro). The operating profit of the segment was 0.3 million euro (0.7 million euro).

Unlike other segments, the main business of the segment was based on the development, supply and marketing of the segment’s own software products. Owing to the nature of its business, the segment was, however, more dependable on the new investments of the client industries than the other segments.

The growth and profitability of the segment’s business operations will be improved by developing products that meet the needs of the client segments better and by looking for new markets and channels. The incorporation of the business of the segment at the turn of the year allowed the development of a product area specific, specialised strategy during 2015.

 

Descom

In the financial year, the revenue of the Descom Segment (consolidated 2 July – 31 December 2015) amounted to 18.2 million euro. A total of 1.2 million euro of the revenue was created in the Swedish subsidiary. The operating profit of the segment was 1.1 million euro.

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2015 statement

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