Bli medlem
Bli medlem

Du är här

2016-11-03

Wulff-Yhtiöt Oyj: WULFF GROUP PLC'S INTERIM REPORT FOR JANUARY 1 - SEPTEMBER 30, 2016:   OPERATING PROFIT REMAINED AT THE SAME LEVEL DESPITE THE DECLINE IN NE

INTERIM REPORT November 3, 2016 at 9:00 A.M.

This is a summary of Wulff Group Plc's interim report for
January-September 2016. Wulff Group's interim report for
January-September 2016 is attached to this stock exchange release and
is also available on the company's website.

JANUARY - SEPTEMBER 2016 BRIEFLY

· Net sales totalled EUR 43.5 million (EUR 50.2 million). Net sales
decreased by 13.4 percent from the previous year.

· EBITDA was EUR 0.7 million (EUR 1.2 million). Comparable EBITDA
was EUR 0.5 million (EUR 1.4 million).

· Operating profit (EBIT) was EUR 0.4 (EUR -0.0 million).
Comparable operating profit (EBIT) amounted to EUR 0.2 million (EUR
0.9 million).

· Earnings per share (EPS) were EUR 0.01 (EUR -0.11).
JULY - SEPTEMBER 2016 BRIEFLY

· Net sales totalled EUR 13.4 million (EUR 14.8 million). Net sales
decreased by 9.4 percent from the previous year.

· EBITDA was EUR 0.4 million (EUR 0.6 million). Comparable EBITDA
was EUR 0.4 million (EUR 0.6 million).

· Operating profit (EBIT) was EUR 0.4 million (EUR 0.4 million).
Comparable operating profit (EBIT) was EUR 0.3 million (EUR 0.4
million).

· Earnings per share (EPS) were EUR 0.02 (EUR 0.03).
WULFF GROUP'S CHAIRMAN OF THE BOARD OF DIRECTORS HEIKKI VIENOLA

"Our customers' expectations of the future are brighter than in a long
time. The pick-up in economic growth will affect Wulff's products and
services with a lag. It is important to develop our product range to
meet the needs of today and the future. Our strengths are in
one-to-one encounters with customers and multi-channel operations. We
will concentrate on refining the information we acquire in these
meetings and the feedback we get from our customers into new products
and services. For example, the share of facility management products,
cafeteria products, and hygiene and cleaning products of our sales
and supply has risen constantly. We are an agile, reliable, and
environmentally friendly option for acquiring everything for the
workplace. According to our customers, Wulff is the best-known, most
reliable, and has the best customer service in the field."

GROUP'S NET SALES AND RESULT PERFORMANCE

In January-September 2016 net sales totalled EUR 43.5 million (EUR
50.2 million), decreasing by -13.4 percent from the previous year.
The decline in net sales without the sold business gifts business was
-10.3 % in January-September 2016. Net sales totalled EUR 13.4
million (EUR 14.8 million) in the third quarter, decreasing by -9.4
percent from the previous year. The decline in net sales without the
sold business gifts business was -8.3 percent in the third quarter.
The good work in our customer interface and investments in our sales'
development have not yet shown as expected in the development of net
sales. In Finland, the office supplies industry has begun to show
signs of stimulation.

In January-September 2016 EBITDA was EUR 0.7 million (EUR 1.2 million)
being 1.6 percent (2.4 %) of net sales, and EUR 0.4 million (EUR 0.6
million) in the third quarter. In January-September 2016 the
comparable EBITDA amounted to EUR 0.5 million (EUR 1.4 million). The
comparability of January-September 2016 EBITDA was affected by the
sale of company cars of EUR 0.2 million. The comparability of
January-September 2015 EBITDA was affected by write-downs of
inventories of EUR 0.2 million relating to the business gifts
business.

In January-September 2016 the operating profit (EBIT) amounted to EUR
0.4 million (EUR -0.02 million). In January-September 2016 the
comparable operating profit (EBIT) was EUR 0.2 million (EUR 0.9
million). The comparability of the January-September 2016 operating
profit (EBIT) was affected by the sale of company cars of EUR 0.2
million. The comparability of January-September 2015 operating profit
(EBIT) was affected by write-downs of inventories and fixed assets of
EUR 0.2 million and a write-down of goodwill of EUR 0.7 million
relating to the business gifts business. The comparable operating
profit (EBIT) declined by EUR 0.7 million in January-September 2016
which was mainly formed during the first half year period. The
comparable operating profit (EBIT) was EUR 0.3 million (EUR 0.4
million) in the third quarter, remaining at the same level as in the
previous year despite the decline in net sales. The comparability of
the third quarter operating profit (EBIT) was affected by the sale of
company cars of EUR 0.1 million. The 2015 third quarter EBIT did not
include items affecting the comparability. The group continues to
focus on sales development, the acquisition of new customers and
optimizing its operations.

In January-September 2016 employee benefit expenses amounted to EUR
9.4 million (EUR 9.9 million), and EUR 2.5 million (EUR 2.7 million)
in the third quarter. Other operating expenses amounted to EUR 5.5
million (EUR 6.0 million) in January-September 2016, and EUR 1.7
million (EUR 1.8 million) in the third quarter. Employee benefit and
other operating expenses were still affected by the implemented
cost-saving measures. To improve its profitability, Wulff Group
continues to examine its cost structure as part of ongoing reforms.

In January-September 2016 the financial income and expenses totalled
(net) EUR -0.2 million (EUR -0.2 million) including interest expenses
of EUR 0.1 million (EUR 0.2 million) and mainly currency-related
other financial items (net) EUR -0.1 million (EUR -0.1 million). In
the third quarter, the financial income and expenses (net) totalled
EUR -0.1 million (EUR -0.2 million).

In January-September 2016 the result before taxes was EUR 0.2 million
(EUR -0.2 million), and EUR 0.2 million (EUR 0.3 million) in the
third quarter. In January-September 2016 the net profit was EUR 0.1
million (EUR -0.7 million), and EUR 0.2 million (EUR 0.2 million) in
the third quarter.

Earnings per share (EPS) were EUR 0.01 (EUR -0.11) in
January-September 2016, and EUR 0.02 (EUR 0.03) in the third quarter.

KEY FIGURES

+-----------------------------------------+-----+-----+-----+-----+---------+
| |III |III |I-III|I-III|I-IV |
+-----------------------------------------+-----+-----+-----+-----+---------+
|EUR 1000 |2016 |2015 |2016 |2015 |2015 |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Net sales |13 |14 |43 |50 |68 820 |
| |408 |796 |493 |235 | |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Change in net sales, % |-9,4 |-10,3|-13,4|-6,6 |-7,3 % |
| |% |% |% |% | |
+-----------------------------------------+-----+-----+-----+-----+---------+
|EBITDA |365 |579 |690 |1 212|2 019 |
+-----------------------------------------+-----+-----+-----+-----+---------+
|EBITDA margin, % |2,7 %|3,9 %|1,6 %|2,4 %|2,9 % |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Operating profit/loss |270 |429 |376 |-16 |505 |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Operating profit/loss margin, % |2,0 %|2,9 %|0,9 %|-0,0 |0,7 % |
| | | | |% | |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Profit/Loss before taxes |200 |272 |153 |-204 |354 |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Profit/Loss before taxes margin, % |1,5 %|1,8 %|0,4 %|-0,4 |0,5 % |
| | | | |% | |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Net profit/loss for the period |158 |172 |71 |-714 |-195 |
|attributable to equity holders of the | | | | | |
|parent company | | | | | |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Net profit/loss for the period, % |1,1 %|1,2 %|0,2 %|-1,4 |-0,3 % |
| | | | |% | |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Earnings per share, EUR (diluted = non |0,02 |0,03 |0,01 |-0,11|-0,03 |
|-diluted) | | | | | |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Return on equity (ROE), % |1,3 %|1,3 %|0,8 %|-5,9 |-1,6 % |
| | | | |% | |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Return on investment (ROI), % |1,4 %|1,2 %|1,4 %|-0,4 |2,7 % |
| | | | |% | |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Equity-to-assets ratio at the end of |48,0 |44,7 |48,0 |44,7 |46,4 % |
|period, % |% |% |% |% | |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Debt-to-equity ratio at the end of period|33,0 |41,6 |33,0 |41,6 |23,8 % |
| |% |% |% |% | |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Equity per share at the end of period, |1,75 |1,75 |1,75 |1,75 |1,84 |
|EUR * | | | | | |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Net cash flow from operating activities |-1 |-235 |-1 |-271 |1 693 |
| |005 | |075 | | |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Investments in non-current assets |114 |34 |116 |158 |161 |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Investments in non-current assets, % of |0,9 %|0,2 %|0,3 %|0,3 %|0,2 % |
|net sales | | | | | |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Treasury shares held by the Group at the |79 |79 |79 |79 |79 000 |
|end of period |000 |000 |000 |000 | |
+-----------------------------------------+-----+-----+-----+-----+---------+
|Treasury shares, % of total share capital|1,2 %|1,2 %|1,2 %|1,2 %|1,2 % |
|and votes | | | | | ...

Författare WKR

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.