Tecnotree Oyj · OMXHEX:TEM1V
Tecnotree Oyj — FY2009 Earnings Presentation
31 slides from Tecnotree Oyj's earnings presentation, Feb 4, 2010
Slide 1: Tecnomen Lifetree Corporation Financial Report 1-12/2009
Tecnomen Lifetree Corporation Financial Report 1-12/2009 4.2.2010 Eero Mertano President and CEO
Slide 2: Overview
Overview • 2009 was a challenging year – Our net sales was 53,3 M€ (77,2 M€) • Primary reason for sales decline was cautious investment sentiment, and operators delayed their investments into 2010 • In addition, average deal size in VAS fell, and prepaid license revenue declined due to market satura
Slide 3: Financial Highlights
Financial Highlights Lifetree consolidated from 6 May 2009 M€ 1-12/2009 10-12/2009 Net sales 53.3 (77.2) 13.5 (21.7) Ebit (incl. 7.0 M€ one-time costs 2009, 6.0 M€ in Q4) -14.7 (11.5) -8.5 (5.0) Net result -16.1 (10.2) -7.2 (4.8) Order intake 57.8 (69.4) 12.5 (14.2) Order book 11.7 (9.7) Cash flow a
Slide 4: Tecnotree Business Units
Tecnotree Business Units VAS BSS/OSS • Net sales were 19.4 M€ (40.4) • Net sales were 33.9 M€ (36.8) • BU EBIT was -7.2 MEUR (8.8) • BU EBIT was -4.2 MEUR (5.5) • Steady maintenance revenue • Demand has remained strong in • Average project size was Middle East and Africa and decreased and operator m
Slide 5: Consolidated Income Statement
Consolidated Income Statement Lifetree consolidated from 6 May 2009 EUR Million 10-12/2009 10-12/2008 Change % Net sales 13.5 21.7 -37.7 Other operating income 0.0 0.0 Materials and services -3.0 -3.8 -20.7 Employee benefit expenses -10.1 -6.9 46.4 Other operating expenses -7.2 -4.6 58.3 Depreciatio
Slide 6: One-time Costs in Q4 2009
One-time Costs in Q4 2009 Lifetree consolidated from 6 May 2009 EUR Million 10-12/2009 One-time Excluding items one-time items Net sales 13.5 -2.5 16.0 Other operating income 0.0 0.0 Materials and services -3.0 -3.0 Employee benefit expenses -10.1 -2.3 -7.8 Other operating expenses -7.2 -1.2 -6.0 De
Slide 7: Consolidated Income Statement
Consolidated Income Statement Lifetree consolidated from 6 May 2009 EUR Million 1-12/2009 1-12/2008 Change % Net sales 53.3 77.2 -31.0 Other operating income 0.3 0.0 Materials and services -10.7 -16.7 -36.1 Employee benefit expenses -29.2 -24.0 21.7 Other operating expenses -21.8 -19.4 12.4 Deprecia
Slide 8: One-time Items in 2009
One-time Items in 2009 Lifetree consolidated from 6 May 2009 EUR Million 1-12/2009 One-time Excluding items one-time items Net sales 53.3 -2.5 55.8 Other operating income 0.3 0.3 Materials and services -10.7 -10.7 Employee benefit expenses -29.2 -3.3 -25.9 Other operating expenses -21.8 -1.2 -20.6 D
Slide 9: Consolidated Income Statement (Pro forma)
Consolidated Income Statement (Pro forma, Tecnotree India included Oct-Dec of both years) EUR Million 10-12/2009 10-12/2008 Change % Net sales 13.5 28.9 -53.3 Other operating income 0.0 0.1 Materials and services -3.0 -5.2 -42.3 Employee benefit expenses -10.1 -8.1 24.7 Other operating expenses -7.2
Slide 10: Consolidated Income Statement (Pro forma)
Consolidated Income Statement (Pro forma, Tecnotree India included Jan-Dec of both years) EUR Million 1-12/2009 1-12/2008 Change % Net sales 58.2 94.2 -38.2 Other operating income 0.4 0.7 -41.3 Materials and services -12.2 -20.2 -39.6 Employee benefit expenses -31.1 -27.8 11.9 Other operating expens
Slide 11: Net Sales by Business Unit
Net Sales by Business Unit VAS 36 % (52 %), BSS/OSS 64 % (48 %) of Net Sales 45,0 40,0 35,0 -8% 30,0 25,0 -52% 20,0 15,0 10,0 5,0 0,0 VAS BSS/OSS Act 1-12/2008 40,4 36,8 Act 1-12/2009 19,4 33,9 11 4.2.2010 Financial Report 1-12/2009
Slide 12: Net Sales by Area
Net Sales by Area Americas 43%(54%), EMEA 50%(36%), APAC 7% (10%) M€ Total change -31% 45 40 35 30 -4% -44% 25 20 15 10 5 -55% 0 Americas EMEA APAC 1-12/2008 41,6 27,6 8,0 1-12/2009 23,1 26,5 3,6 12 4.2.2010 Financial Report 1-12/2009
Slide 13: Orderbook by Product Line
Orderbook by Product Line M€ 14 12 10 8 6 4 2 0 Q4 2007 Q4 2008 Q4 2009 VAS 12,4 5,9 4,8 BSS/OSS 5,1 3,7 6,9 13 4.2.2010 Financial Report 1-12/2009
Slide 14: Consolidated Balance Sheet
Consolidated Balance Sheet EUR Million 31.12.2009 31.12.2008 Change % Non-current assets Fixed assets 30.9 26.4 16.9 Consolidated goodwill 20.0 0.7 Other non-current assets 2.4 0.7 Current assets Inventories 1.3 1.1 22.0 Trade receivables 19.3 14.4 34.5 Other receivables 17.2 24.6 -30.0 Investments
Slide 15: Consolidated Balance Sheet
Consolidated Balance Sheet EUR Million 31.12.2009 31.12.2008 Change % Shareholders’ equity 77.2 83.5 -6.0 Interest-bearing liabilities 16.7 - Deferred tax liabilites 3.9 4.5 -14.3 Other non-current liabilities 0.3 0.0 Current liabilities Interest-bearing liabilities 2.3 20.0 Non-interest-bearing lia
Slide 16: Prospects for 2010
Prospects for 2010 The global financial crisis has caused operators to be cautious in making capital expenditure and many operators have postponed investments until 2010. During the second half of 2009 Tecnotree carried out a major restructuring, and the cost savings from this will have a full impac
Slide 17: Additional Financial Information for Investors
Additional Financial Information for Investors
Slide 18: Sales by Area: Americas
Sales by Area Americas 25 M€ 4 per. Mov. Avg. (Americas) 20 15 10 5 0 Q1/07 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Tecnotree Sales 11,0 20,8 19,1 19,2 15,2 22,2 18,2 21,7 11,5 15,0 13,2 13,5 Americas 5,0 11,0 9,5 12,2 3,9 12,0 13,7 11,9 7,0 6,9 3,4 5,8 18 4.2.2010 Financia
Slide 19: Sales by Area: EMEA
Sales by Area EMEA M€ 25 4 per. Mov. Avg. (EMEA) 20 15 10 5 0 Q1/07 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Tecnotree Sales 11,0 20,8 19,1 19,2 15,2 22,2 18,2 21,7 11,5 15,0 13,2 13,5 EMEA 5,8 7,1 8,9 4,9 7,7 7,8 3,4 8,7 3,8 7,4 9,3 6,0 19 4.2.2010 Financial Report 1-12/200
Slide 20: Sales by Area: APAC
Sales by Area APAC M€ 4 per. Mov. Avg. (APAC) 25 20 M€ 15 10 5 0 Q1/07 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Tecnotree Sales 11,0 20,8 19,1 19,2 15,2 22,2 18,2 21,7 11,5 15,0 13,2 13,5 APAC 0,3 2,7 0,7 2,0 3,6 2,4 1,0 1,1 0,8 0,7 0,5 1,7 20 4.2.2010 Financial Report 1-12/
Slide 21: Sales by Business Unit: VAS
Sales by Business Unit VAS 25 M€ 20 15 10 5 0 Q1/07 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Tecnotree Sales 11,0 20,8 19,1 19,2 15,2 22,2 18,2 21,7 11,5 15,0 13,2 13,5 VAS Sales 7,9 10,1 10,5 9,9 12,4 10,9 5,9 11,2 4,9 6,1 4,8 3,6 21 4.2.2010 Financial Report 1-12/2009
Slide 22: Sales by Business Unit: BSS/OSS
Sales by Business Unit BSS/OSS 25 M€ 20 15 10 5 0 Q1/07 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Tecnotree Sales 11,0 20,8 19,1 19,2 15,2 22,2 18,2 21,7 11,5 15,0 13,2 13,5 BSS/OSS Sales 3,1 10,8 8,6 9,3 2,8 11,2 12,3 10,5 6,6 8,9 8,4 9,9 22 4.2.2010 Financial Report 1-12/20
Slide 23: Sales Distribution
Sales Distribution 25,0 20,0 15,0 10,0 5,0 0,0 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Tecnotree sales 15,2 22,2 18,2 21,7 11,5 15,0 13,2 13,5 Services 3,8 4,8 4,5 5,5 3,9 6,3 6,8 6,7 New customers 0,0 1,6 0,2 0,5 1,0 0,8 1,2 0,0 Existing customers 11,4 15,8 13,5 15,7 6,6 7,9 5,2 6,8 23 4.2.
Slide 24: Sales, Order Backlog & Order Intake
Sales, Order Backlog & Order Intake 35,0 30,0 25,0 20,0 15,0 10,0 5,0 0,0 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Tecnotree sales 15,2 22,2 18,2 21,7 11,5 15,0 13,2 13,5 OBL 16,8 25,1 17,2 9,7 11,7 21,5 15,2 11,7 Order intake 14,5 30,5 10,3 14,2 13,5 24,8 6,9 12,5 24 4.2.2010 Financial Repor
Slide 25: Sales and Ebit before One-time Costs
Sales and Ebit before One-time Costs 25 30 % 20 % 15 10 % M€ 0% 5 -10 % -20 % -5 Q1/07 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 -30 % Sales 11,0 20,8 19,1 19,2 15,2 22,2 18,2 21,7 11,5 15,0 13,2 13,5 Ebit -2,0 3,9 5,2 1,8 -0,4 3,6 3,3 5,0 -1,7 -1,5 -2,0 -2,5 Ebit % -18,0 % 1
Slide 26: Materials and Services
Materials and Services 25 35 % M€ 30 % 20 25 % 15 20 % 15 % 10 10 % 5 5% 0 0% Q1/07 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Sales 11,0 20,8 19,1 19,2 15,2 22,2 18,2 21,7 11,5 15,0 13,2 13,5 Materials and Services 1,6 5,4 3,6 4,6 4,3 4,5 4,1 3,8 2,0 3,4 2,3 3,0 % 14,5% 26,0%
Slide 27: Employee Benefits
Employee Benefits 80 % M€ 25 Sales Employee benefits % 4 per. Mov. Avg. (%) 70 % 20 60 % 50 % 15 40 % 10 30 % 20 % 5 10 % 0 0% Q1/07 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Sales 11,0 20,8 19,1 19,2 15,2 22,2 18,2 21,7 11,5 15,0 13,2 13,5 Employee benefits 6,1 5,4 5,1 6,7 5
Slide 28: Other Operating Expenses
Other Operating Expenses 25M€ Sales Other Opex % 4 per. Mov. Avg. (%) 60 % 50 % 20 40 % 15 30 % 10 20 % 5 10 % 0 0% Q1/07 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Sales 11,0 20,8 19,1 19,2 15,2 22,2 18,2 21,7 11,5 15,0 13,2 13,5 Other Opex 4,3 5,3 4,2 4,6 4,3 6,2 4,3 4,6 4,2
Slide 29: Number of Personnel
Number of Personnel 900 800 700 600 468 510 507 500 400 300 200 365 359 352 347 352 355 354 354 350 352 332 272 100 0 Q1/07 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Rest of the Group India 29 3.2.2010 Financial Statements 1-12/2009
Slide 30: Assets by Quarter
Assets by Quarter M€ 140 120 100 80 60 40 20 0 Q1/07 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Cash 7,3 6,3 9,2 17,5 11,8 15,5 25,2 51,0 51,5 32,8 30,5 25,7 Investments 1,6 0,8 1,6 Other rec. (mainly WIP) 19,8 23,6 34,4 24,8 23,6 27,4 26,1 24,6 24,4 22,2 18,2 17,2 Trade recei
Slide 31: Equity and Liabilities by Quarter
Equity and Liabilities by Quarter M€ 140 120 100 80 60 40 20 0 Q1/07 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Current non-interest bearing 9,7 12,7 10,4 13,8 10,0 12,0 10,8 10,8 11,0 15,1 12,8 18,1 Current interest bearing - - - - - - - 20,0 20,0 2,3 2,2 2,3 Deferred tax 2,4