Elektrobit Group Oyj - ELEKTROBIT GROUP PLC'S FINANCIAL STATEMENTS BULLETIN 2003
February 11, 2004
ELEKTROBIT GROUP PLC'S FINANCIAL STATEMENTS BULLETIN 2003
Comparisons between the fourth quarter of 2003, October to December, and the pro forma figures of the corresponding period a year earlier:
- Net sales 43.3 million euro (38.9 million euro, representing an increase of 4.4 million euro or 11.3%). The net sales of the Testing business unit increased considerably compared to the previous year, net sales of the Contract R&D remained at the level of the previous year, and the net sales of Automation Solutions business units decreased from the level of the fourth quarter of 2002.
- Operating profit 5.8 million euro (3.5 million euro, an increase of 2.3 million euro and 64.8%).
- Equity ratio 58.6% (53.4%).
- Cash flow from operations 13.0 million euro (4.1 million euro, an increase of 9.0 million euro and 221%).
Financial year 2003 compared with 2002 (pro forma 2002 figures in brackets)
- Net sales 148.6 million euro (136.5 million euro, representing an increase of 12.1 million euro or 8.9%). The net sales of the Contract R&D business unit, 58.8 million euro (61.3 million euro, decrease of 2.5 million euro or 4.1%), the net sales of the Testing business unit, 67.9 million euro (44.6 million euro, increase of 23.3 million euro or 52.3%), and the net sales of the Automation Solutions business unit, 21.9 million euro (30.6 million euro, decrease of 8.7 million euro or 28.5%).
- Operating profit 16.1 million euro (0.7 million euro, an increase of 15.4 million euro).
- Cash flow from operations 21.6 million euro (-1.7 million euro, an increase of 23.3 million euro).
The figures presented in this financial statement bulletin are compared with the pro forma figures for 2002. The pro forma accounting principles applied in 2002 are described later in this report.
