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2015-05-20

Asiakastieto Group Plc: ASIAKASTIETO GROUP'S INTERIM REPORT 1.1. - 31.3.2015

Asiakastieto Group Plc, stock exchange release 20 May 2015, 10.00 a.m. EEST

ASIAKASTIETO GROUP'S INTERIM REPORT 1.1. - 31.3.2015
The clients' interest in new and value-added services which increase the
efficiency of their business processes keeps Asiakastieto Group on growth
path.

SUMMARY

The figures presented in this interim report are unaudited.

January-March 2015 in short

* Net sales amounted to EUR 10,5 million (EUR 10,4 million), an increase of
1,6 %.
* Adjusted EBIT excluding non-recurring items was EUR 4,3 million (EUR 4,8
million).
* Operating profit (EBIT) was EUR 2,1 million (EUR 4,7 million). Operating
profit included non-recurring expenses of EUR 2,2 million (EUR 0,1
million), mostly relating to the Company's listing.
* The share of new products and services of net sales was 4,8 % (5,3 %).
* The share of value-added services of net sales was 57,9 % (55,8 %).
* Free cash flow amounted to EUR 3,3 million (EUR 5,5 million). The impact of
non-recurring items on free cash flow was EUR -1,4 million (EUR -0,0
million).
* Earnings per share were EUR 0,09 (EUR -0,13).

Future outlook

Asiakastieto Group expects its full-year net sales in 2015 to grow compared to
2014.

Jukka Ruuska, CEO

"In the first part of the year 2015, there were no signs of recovery in the
Finnish economy. The number of consumers and companies having payment
defaults is at a record high level, and the business activity by operating
enterprises has not increased significantly. Despite this, the net sales of
Asiakastieto Group have grown compared with the corresponding period of the
previous year, and generally the first quarter met our expectations. Our
client companies have a need to increase the efficiency of their risk
management as well as their sales and business processes, and they have
increasingly used our value-added services.

In the first quarter of the year, the net sales of Asiakastieto Group amounted
to EUR 10,5 million (EUR 10,4 million), an increase of 1,6 % as compared to
the previous year. Net sales in the Business Information, Consumer
Information and Customer Management product areas increased, while there was
a decline in the net sales of Certificates and Analyses.

The adjusted operating profit (EBIT) of Asiakastieto Group in the first
quarter was EUR4,3 million (EUR 4,8 million). Operating profit (EBIT)
included non-recurring
costs of EUR 2,2 million, mainly relating to the listing of Asiakastieto
Group Plc. The profitability of the business was also affected by
non-capitalised development work relating to IT infrastructure in the first
quarter.
Furthermore, the increase in net sales during the first quarter of the 2015
was mainly generated by services based on external databases, where each data
search made by a customer increases data acquisition costs incurred by
Asiakastieto Group.The increase in depreciation and amortisation reflects the
Group's increasing
capital expenditure generating growth by developing new services that improve
the efficiency of the business processes of our customers
. For the rest of the year, the development of new services will particularly
focus on services utilising our own database.

We expect that the listing in the stock exchange completed at the end of March
will bring Asiakastieto Group increased positive visibility, awareness and
public reliability and create natural opportunities to expand the business
also by acquisitions. We strongly believe that our customers will continue to
increase the efficiency of their decision-making and marketing through the
automation of their processes. According to our long-term strategic goals,
Asiakastieto Group wants to be a pioneer in this digitalisation and by its
own activities demonstrate the functionality of its services. During the
first months of the year 2015, we have already seen that our efforts in the
development of products and services have been successful."

Key figures

-------------------------------------------------------------------------------------------------------
| Key income statement and cash flow figures 1.1.- 31.3.2015 1.1.- 31.3.2014 1.1.- 31.12.2014 |
|EUR million |
| |
| Net sales 10,5 10,4 41,4 |
| Growth of net sales, %1 1,6 -2,9 0,1 |
| |
| EBITDA 2,7 5,2 19,7 |
| Operating profit (EBIT) 2,1 4,7 17,6 |
| |
| Adjusted EBITDA² 4,9 5,2 20,6 |
| Adjusted EBITDA margin, %2 46,2 50,4 49,8 |
| |
| Adjusted EBIT2 4,3 4,8 18,6 |
| Adjusted EBIT margin, %2 40,6 45,8 45,0 |
| |
| Net sales from new products and services 0,5 0,6 2,8 |
| New products and services share of net sales, % 4,8 5,3 6,7 |
| |
| Net sales from value-added services 6,1 5,8 23,2 |
| Value-added services share of net sales, % 57,9 55,8 56,1 |
| |
| Free cash flow3 3,3 5,5 16,8 |
| Cash conversion, %3 123,2 106,6 85,3 |
| |
| |
| Key balance sheet ratios 1.1.- 31.3.2015 1.1.- 31.3.2014 1.1.- 31.12.2014 |
| |
|EUR million |
| |
| Net debt to adjusted EBITDA, x4 3,0 8,8 3,0 |
| Gearing, %4 87,3 neg. 95,8 |
| Equity ratio, %4 47,2 -52,2 46,7 |
| |
-------------------------------------------------------------------------------------------------------
1The growth of net sales for the period from 1 January to 31 March 2014 has
been calculated by comparing the net sales of the period to the net sales in
the comparative quarter in 2013.

2Adjusted key figures are adjusted by non-recurring items. Non-recurring items
include management fees which the Company has paid to Investcorp, the former
owner of the Company, until the listing of the Company for certain ongoing
advisory services, costs relating to the listing, an expense relating to the
discount given to the personnel in the personnel offering, fees for legal and
other advisory services, redundancy payments and compensations paid.
Non-recurring items were EUR -2,2 million
for the interim period
1 January - 31 March 2015,
EUR -0,1 million for the interim period
1 January - 31 March 2014 and
EUR -1,0 million
for the annual financial period 1 January - 31 December 2014.

3The impact of non-recurring items on free cash flow was EUR -1,4 million
for the interim period
1 January - 31 March 2015,
EUR -0,0 million for the interim period
1 January- 31 March 2014 and
EUR -0,3 million
for the annual financial period 1 January - 31 December 2014.

4Key figures for the interim period 1 January - 31 March 2015 are not
comparable to figures presented for the period 1 January - 31 March 2014 due
to the change in the capital structure and the refinancing of indebtedness
carried out by the Company at the end of 2014.

BUSINESS OVERVIEW

Asiakastieto Group Plc (the "Company") is a Finnish public limited liability
company and the parent company for Asiakastieto Group ("Asiakastieto Group"
or the "Group"). Suomen Asiakastieto Oy is the operating company in the
group.

Asiakastieto Group is one of the leading Finnish providers of business and
consumer information services. The Group's products and services are
primarily used for risk management, finance and administration,
decision-making and sales and marketing purposes. The Group serves several
industries, the largest of which include finance and banking, insurance,
telecommunication and wholesale and retail sectors.

The services provided by the Group are based on a comprehensive database which
combines data from several public data sources as well as through the Group's
own data acquisition channels. The database provides a base for the Group
services ranging from individual reports to advanced risk management
solutions.

The Group's products and services are divided into four product areas:

1 Business Information: Risk management and general business information
services which are mainly used by businesses serving corporate customers.
2 Consumer Information: Risk management information and services on private
individuals and real estates. The products and services of Consumer
Information are mainly used by businesses serving consumer customers.
3 Customer Management: Services for the prospecting of potential customers as
well as for sales and marketing purposes. The products and services of
Customer Management are mainly used by businesses serving corporate
customers.
4 Certificates and Analyses: Credit rating certificates, company and industry
analyses, and printed products concerning risk management information.

FUTURE OUTLOOK

Asiakastieto Group expects its full-year net ...

Författare Hugin

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