IFRS financial statement from 2004
Componenta Corporation Stock Exchange Release 7.4.2005 at 12.00
IFRS financial statement from 2004
Componenta is preparing its first financial statements and interim
reports in accordance with international financial reporting standards
(IFRS) in the 2005 financial year. This release presents Componenta's
2004 income statement, balance sheet, cash flow statement, key ratios,
reconciliation statements for shareholders' equity and result and the
Group's quarterly performance in accordance with the IFRS standards in
force on 31 March 2005. The financial information based on IFRS standards
presented in the summary may have to be amended before it is included in
the Group's first IFRS financial statements for the financial year ending
31 December 2005. This is due to the changes currently being made to the
IFRS standards, which may affect the financial statements of companies
that apply IFRS standards as from 2005.
Componenta has applied IFRS 1 (First-time Adoption of IFRS Standards),
which permits certain alternatives when applying the standards. The most
significant of these exemptions applied by Componenta are that it has
used FAS values for acquisitions in the IFRS transition date balance
sheet and has delayed adoption of IAS 32 and IAS 39 standards until 1
January 2005. The main changes in Componenta's IFRS transition relate to
real estates, goodwill, finance lease agreements, deferred tax assets and
liabilities, and the acquisition of the Dutch foundry company De Globe.
Impact of IFRS changes on 2004 income statement
The FAS 2004 profit after financial items was EUR 15.6 million and the
profit after financial items, excluding one-time items, was EUR 3.9
million. The IFRS profit after financial items was EUR 17.9 million and
the profit after financial items, excluding onetime items, was EUR 4.6
million. The FAS earnings per share was EUR 2.14 per share and earnings
per share calculated with period's taxes was EUR 1.54 per share, while
the IFRS earnings per share was EUR 1.62 per share.
Impact of IFRS changes on balance sheet on 1 January 2004 and 31 December 2004
The FAS balance sheet total on 1 January 2004 was EUR 190.6 million. The
IFRS changes increased the 2004 opening balance sheet total by EUR 4.4
million to EUR 195.0 million, due mainly to the entering of tax assets
and to finance lease agreements. The FAS balance sheet total at the end
of 2004 was EUR 273.1 million and the IFRS balance sheet total was
EUR 272.4 million. During 2004 Componenta changed its accounting principles,
bringing them more into line with IFRS regulations, as is permitted by
Finnish Accounting Standards (FAS).
Most significant changes in the IFRS transition and their impact on the
income statement and balance sheet
Real estates
Componenta has valued real estates in the opening IFRS balance sheet, as
permitted in IFRS 1, either at historical value or at fair value. An
external expert has determined the fair value of real estates. The change
in the value of real estate assets reduced shareholders' equity in the
IFRS balance sheet on 31 December 2004 by EUR 5.7 million, mainly because
of the change in the accounting principles for a mutual real estate
company and the valuation of real estates at fair value in the opening
balance sheet on 1 January 2004. Depreciation of real estates entered in
the 2004 IFRS income statement increased EUR 0.6 million, mainly because
no depreciation was made on the revaluation of real
estates in the FAS financial statements.
Finance leases
Finance lease agreements are recognized in the IFRS balance sheet as
assets and liabilities. Rent payments under leasing agreements are
divided between financial expenses and repayment of liabilities. Assets
are depreciated in the balance sheet in accordance with the Group's
principles for depreciation. Recognizing finance lease agreements in the
balance sheet increased Componenta's 2004 opening IFRS balance sheet by
EUR 5.3 million and the closing IFRS balance sheet by EUR 9.1 million.
The change in the accounting principles for finance lease agreements
improved the 2004 IFRS profit after financial items by EUR 0.5 million.
Goodwill
Goodwill is not amortized under planned depreciation. Instead of
amortization, corporate goodwill is tested for impairment. If the
recoverable amount of a cash-generating unit is lower than the carrying
amount of the cash-generating unit, including goodwill, then an
impairment loss is recognized for this cash-generating unit in the income
statement. Componenta's goodwill figures were tested on 1 January 2004
and on 31 December 2004. A one-time writedown of EUR 0.8 million was made
on goodwill in the 2004 opening IFRS balance sheet. The change in the
amortization principle of goodwill improved Componenta's 2004 IFRS profit
after financial items by EUR 1.2 million, with EUR 0.5 million of this
showing as a reduction in the Group's depreciation and EUR 0.7 million as
an improvement in the profit of the associated companies.
Deferred tax assets and tax liabilities
The IFRS balance sheet includes deferred tax liabilities in their
entirety and deferred tax assets up to the amount that can most probably
be utilized. Deferred tax assets for losses confirmed in taxation and for
losses for the financial year have been entered if the losses can most
probably be used to offset taxable income in future. Deferred tax
liabilities are calculated for Finnish companies using a tax percentage
of 26%, for Swedish companies using 28% and for Dutch companies 31.5%.
All the Group's tax assets have been entered in the FAS balance sheet and
IFRS balance sheet at the end of 2004. The deferred tax liability, which
is mainly related to the valuation of real estates, is entered in its
entirety in the 2004 IFRS balance sheet. Deferred tax assets and
liabilities have been netted in the balance sheet insofar as they are
payable to the same tax authority.
Acquisition of De Globe
Componenta acquired 55% of the shares and voting rights of the Dutch
foundry company De Globe during the first quarter of 2004 at a total cost
of EUR 4.3 million. Assets and liabilities were valued at fair value on
the acquisition date. The difference between the fair values and the
acquisition price resulted in negative goodwill of EUR 6.6 million, which
was recognized as income in connection with the acquisition. The fair
value allocations are mainly connected with inventories.
Segments
Componenta's primary segment is the business segment, which is
Cast Components. The secondary, geographical segment comprises the Nordic
Countries and Other European Countries.
Pensions
The pensions of personnel at the Group's Finnish companies are arranged
with the Finnish statutory employee pension scheme (TEL) insurance
through an external pension insurance company. NonFinnish subsidiaries
have arranged pensions for their personnel in accordance with local
legislation. Componenta has treated its employment pensions as defined
contribution pensions in its accounts. Most of the Group's pension
schemes are defined contribution schemes, for which payments are entered
in the income statement in the period in which they occur. Defined
benefit pension schemes have been treated in the same way if the pension
company has not been able to provide actuarial valuations. Debt from
defined benefit pension schemes is entered using the actuarial valuation
method. The disability part of the Finnish TEL system is also treated as
a defined contribution scheme since this is becoming a defined
contribution scheme.
Financial instruments (IAS 32 and IAS 39)
As from 1 January 2005, Componenta is also adopting IFRS standards in its
reporting of financial instruments.
Componenta uses derivative instruments to hedge its currency, interest
rate and electricity risks, and they are valued in IFRS at fair value.
Changes in fair value is entered in the income statement in cases where
hedge accounting is not applied. Loans are recognized according to IAS 39
using the amortized cost principle, if the acquisition cost includes
significant arrangement fees or issue premiums or losses that can be
allocated. These changes reduced Componenta's shareholders' equity by a
total of EUR 0.7 million on 1 January 2005. In accordance with IAS 32,
preferred capital notes are classified under IFRS as interest-bearing
liabilities.
Income statements
Income
statement FAS IFRS IFRS FAS IFRS IFRS
1.1.- adju 1.1.- 1.1.- adju 1.1.-
MEUR 31.3.2004 stments 31.3.2004 30.6.2004 stments 30.6.2004
Net sales 73.0 0.0 73.0 154.1 0.0 154.0
Other
operating
income 8.7 8.7 8.9 8.9
Operating
expenses 69.0 -0.4 68.6 142.3 0.0 142.3
Depreciation,
amortization
and write-down 3.9 0.2 4.1 7.7 0.3 8.0
Negative
goodwill
recognized as
income 5.5 1.1 6.6 5.5 1.1 6.6
Share of the
associated
companies' result 0.1 0.2 0.2 0.7 0.3 1.0
Operating profit 14.4 1.5 15.9 19.2 1.0 20.2
% of net sales 19.8 21.8 12.5 13.1
Financial
income and
expenses -1.7 -0.1 -1.8 -3.4 -0.1 -3.6
Result after
financial items 12.7 1.4 14.1 15.8 0.9 16.6
% of net sales 17.4 19.3 10.2 10.8
Income taxes -2.2 -0.6 -2.8 -0.1 -3.1 -3.2
Minority interest 0.0 0.0 0.0 0.3 0.3
Net profit 10.5 0.9 11.3 15.9 -2.2 13.7
Income
statement FAS IFRS IFRS FAS IFRS IFRS
1.1.- adj 1.1.- 1.1.- adju 1.1.-
MEUR 30.9.2004 ustments 30.9.2004 31.12.2004 stments 31.12.2004
Net sales 224.5 -0.1 224.5 316.1 -0.1 316.0
Other
operating
income 9.0 9.0 10.0 10.0
Operating
expenses 208.0 -0.4 207.6 294.4 -1.2 293.2
Depreciation,
amortization
and write-down 11.4 0.5 11.9 14.7 0.7 15.4
Negative
goodwill
recognized as
income 5.5 1.1 6.6 5.0 1.5 6.6
Share of the
associated
companies' result 1.0 0.5 1.5 1.2 0.7 1.9
Operating profit 20.7 1.4 22.1 23.2 2.6 25.7
% of net sales 9.2 9.8 7.3 8.1
Financial income
and expenses -5.3 -0.2 -5.5 -7.6 -0.3 -7.9
Result after
financial items 15.4 1.2 16.6 15.6 2.3 17.9
% of net sales 6.9 7.4 4.9 5.7
Income taxes 0.3 -3.2 -2.9 3.7 -7.3 -3.6
Minority interest 0.5 0.5 1.3 0.0 1.4
Net profit 16.2 -2.0 14.2 20.6 -5.0 15.6
Income
statement
without
one time
items FAS IFRS IFRS FAS IFRS IFRS
1.1.- adj 1.1.- 1.1.- adju 1.1.-
MEUR 31.3.2004 ustments 31.3.2004 30.6.2004 stments 30.6.2004
Net sales 73.0 0.0 73.0 154.1 0.0 154.0
Other
operating
income 0.1 0.1 0.2 0.2
Operating
expenses 67.3 -0.4 66.9 140.5 0.0 140.4
Depreciation,
amortization
and write-down 3.9 0.2 4.1 7.7 0.3 8.0
Negative
goodwill
recognized as
income - - - -
Share of the
associated
companies' result 0.1 0.2 0.2 0.7 0.3 1.0
Operating profit 2.0 0.4 2.3 6.8 -0.1 6.8
% of net sales 2.7 3.2 4.4 4.4
Financial income
and expenses -1.7 -0.1 -1.8 -3.4 -0.1 -3.6
Result after
financial items 0.2 0.3 0.5 3.4 -0.2 3.3
% of net sales 0.3 0.7 2.2 2.1
Income
statement
without
one time
items FAS IFRS IFRS FAS IFRS IFRS
1.1.- adj 1.1.- 1.1.- adju 1.1.-
MEUR 30.9.2004 ustments 30.9.2004 31.12.2004 stments 31.12.2004
Net sales 224.5 -0.1 224.5 316.1 -0.1 316.0
Other
operating
income 0.4 0.4 0.7 0.7
Operating
expenses 206.3 -0.4 205.9 292.0 -1.2 290.8
Depreciation,
amortization
and write-down 11.4 0.5 11.9 14.5 0.7 15.2
Negative
goodwill
recognized as
income - - - -
Share of the
associated
companies' result 1.0 0.5 1.5 1.2 0.7 1.9
Operating profit 8.2 0.3 8.6 11.5 1.1 12.5
% of net sales 3.7 3.8 3.6 4.0
Financial income
and expenses -5.3 -0.2 -5.5 -7.6 -0.3 -7.9
Result after
financial items 3.0 0.1 3.1 3.9 0.8 4.6
% of net sales 1.3 1.4 1.2 1.5
Balance sheet
Balance
sheet FAS IFRS FAS IFRS
IFRS IFRS
adj adj 1.1.-
MEUR 31.3.2004 ustments 1.1.-31.3.2004 30.6.2004 ustments 30.6.2004
Assets
Non-current
assets 154.0 13.3 167.3 157.3 12.5 169.8
Current assets
Inventories 36.1 -2.7 33.4 36.4 -2.2 34.2
Receivables 52.6 -9.2 43.3 58.9 -10.9 48.0
Cash and bank
accounts 0.7 0.0 0.7 1.2 0.0 1.2
Total current
assets 89.4 -11.9 77.4 96.5 -13.1 83.4
Total assets 243.4 1.3 244.7 253.8 -0.6 253.2
Liabilities and
shareholders'
equity
Shareholders'
equity
Share capital 19.2 19.2 19.2 19.2
Other equity 23.1 2.0 25.0 28.6 -1.2 27.4
Preferred
capital note 24.2 24.2 24.2 24.2
Equity
attributable
to equity
holders of the
parent 66.5 2.0 68.5 72.0 -1.2 70.9
Minority
interest 12.0 -3.1 8.9 11.7 -3.1 8.7
Shareholders'
equity 78.5 -1.1 77.4 83.8 -4.2 79.5
Liabilities
Non-current
liabilities
Interest
bearing 52.0 4.5 56.5 55.6 4.4 60.0
Interest
free 1.1 -1.1 0.0 1.1 -1.1 0.0
Provisions 5.5 -0.5 5.0 4.2 -0.5 3.7
Current
liabilities
Interest
bearing 50.6 0.9 51.5 50.7 1.0 51.7
Interest
free 55.7 -1.9 53.8 58.5 -0.7 57.8
Provisions 0.0 0.4 0.4 0.0 0.4 0.4
Total
liabilities 164.9 2.4 167.2 170.0 3.6 173.6
Total
liabilities and
shareholders'
equity 243.4 1.3 244.7 253.8 -0.6 253.2
Balance
sheet FAS IFRS FAS IFRS
IFRS IFRS
1.1.- adju 1.1.- 1.1.- adju 1.1.-
MEUR 30.9.2004 stments 30.9.2004 31.12.2004 stments 31.12.2004
Assets
Non-current
assets 165.2 13.3 178.5 169.9 13.0 182.9
Current assets
Inventories 36.6 -1.0 35.6 42.4 42.4
Receivables 57.7 -10.4 47.3 59.6 -13.7 45.9
Cash and bank
accounts 1.4 0.0 1.4 1.2 1.2
Total current
assets 95.7 -11.4 84.2 103.2 -13.7 89.5
Total assets 260.9 1.9 262.7 273.1 -0.7 272.4
Liabilities and
shareholders'
equity
Shareholders'
equity
Share capital 19.2 19.2 19.2 19.2
Other equity 28.8 -0.9 27.9 33.3 -3.9 29.3
Preferred
capital note 24.2 24.2 24.2 24.2
Equity
attributable
to equity
holders of the
parent 72.3 -0.9 71.4 76.7 -3.9 72.8
Minority
interest 11.5 -3.1 8.4 11.1 -3.5 7.6
Shareholders'
equity 83.8 -4.0 79.8 87.8 -7.5 80.3
Liabilities
Non-current
liabilities
Interest
bearing 25.9 5.3 31.2 63.2 5.1 68.3
Interest
free 1.3 -1.1 0.2 0.1 0.1
Provisions 3.9 -0.5 3.5 0.9 0.0 0.9
Current
liabilities
Interest
bearing 88.0 1.2 89.2 49.9 1.2 51.1
Interest
free 58.0 0.5 58.5 70.6 70.6
Provisions 0.0 0.4 0.4 0.6 0.4 1.1
Total
liabilities 177.1 5.9 182.9 185.3 6.7 192.1
Total
liabilities and
shareholders'
equity 260.9 1.9 262.7 273.1 -0.7 272.4
Cast flow statement
Cash flow statement FAS IFRS IFRS
adjustment
MEUR 1.1.-31.12.2004 s 1.1.31.12.2004
Cash flow from operations
Result after financial items 15.6 2.3 17.9
Depreciation, amortization and
write-down 9.8 -0.8 9.0
Net financial income and expenses 8.2 0.3 8.5
Other income and expenses,
adjustments to cash flow -17.7 2.6 -15.1
Change in net working capital 1.7 -2.9 -1.2
Cash flow from operations before
financing and income taxes 17.6 1.4 19.0
Interest received and paid and
dividends received -7.5 -0.3 -7.8
Taxes paid 0.0 0.0
Net cash flow from operations 10.1 1.1 11.2
Cash flow from investing activities
Capital expenditure in tangible
and intangible assets -27.3 -27.3
Proceeds from tangible and
intangible assets 3.3 3.3
Other investments and loans granted -4.7 -4.7
Proceeds from other investments
and repayments of loan receivables 19.3 19.3
Net cash flow from investing activities -9.4 -9.4
Cash flow from financing activities
Dividends paid 0.0 0.0
Share issue - -
Draw-down (+)/ repayment (-) of
preferred capital note -1.2 -1.2
Repayment of finance lease liabilities - -1.1 -1.1
Draw-down (+)/ repayment (-) of
current loans -13.1 -13.1
Draw-down (+)/ repayment (-) of
non-current loans -14.2 14.2
Net cash flow from financing activities 0.0 -1.1 -1.2
Change in liquid assets 0.7 0.0 0.7
Key ratios
Key Ratios FAS IFRS
31.12.2004 31.12.2004
Equity ratio, % 23.3 20.6
Equity ratio, %, preferred capital note in equity 32.1 29.5
Earnings per share (EPS), EUR *) 2.14 1.62
Earnings per share, with dilution (EPS), EUR *) 2.17 1.64
Equity per share, EUR 5.45 5.05
Invested capital 200.8 199.7
Return on investment, % 13.1 14.2
Return on equity, % 35.5 28.1
Net interest bearing debt, MEUR 111.9 118.1
Net interest bearing debt, MEUR, preferred
capital note in debt 136.1 142.4
Net gearing, %, preferred capital note in equity 127.5 147.0
Net gearing, %, preferred capital note in debt 214.2 253.8
Order book, MEUR 59.2 59.2
Investments in non-current assets without
finance leases, MEUR 35.1 35.1
Investments in non-current assets incl. finance
leases, MEUR 37.0
Average number of personnel during the period 2,168 2,168
Number of personnel at period end 2,213 2,213
Share of export and foreign activities in net sales, % 81.4 81.4
Contingent liabilities, MEUR 116.0 103.6
*) Earnings per share (FAS) calculated with period's taxes is 1.54 EUR
and with dilution 1.56 EUR
Opening balance sheet 2004
Opening balance 1.1.2004 FAS IFRS
IFRS-adjustmen
MEUR 1.1.2004 ts 1.1.2004
Assets
Non-current assets 133.6 15.4 149.0
Current assets
Inventories 20.9 0.2 21.1
Receivables 35.6 -11.2 24.4
Cash and bank accounts 0.5 0.5
Total current assets 57.0 -11.0 46.0
Total assets 190.6 4.4 195.0
Liabilities and shareholders' equity
Shareholders' equity
Share capital 19.2 19.2
Other equity 12.6 1.1 13.7
Preferred capital note 25.4 25.4
Equity attributable to equity
holders of the parent 57.2 1.1 58.3
Minority interest 2.0 -1.9 0.1
Shareholders' equity 59.2 0.2 59.4
Liabilities
Non-current liabilities
Interest bearing 48.1 4.3 52.4
Interest free
Provisions 0.8 0.8
Current liabilities
Interest bearing 51.9 0.8 52.7
Interest free 28.8 28.8
Provisions 1.8 0.2 2.0
Total liabilities 131.4 5.2 136.6
Total liabilities and shareholders' equity 190.6 4.4 195.0
Opening balance sheet 2005
Opening balance 1.1.2005 IFRS IFRS
MEUR 1.1.2005 IAS 39 1.1.2005
Assets
Non-current assets 182.9 182.9
Current assets
Inventories 42.4 42.4
Receivables 45.9 -1.7 44.2
Cash and bank accounts 1.2 1.2
Total current assets 89.5 -1.7 87.8
Total assets 272.4 -1.7 270.7
Liabilities and shareholders' equity
Shareholders' equity
Share capital 19.2 19.2
Other equity 29.3 -0.7 28.6
Preferred capital note 24.2 -24.2 0.0
Equity attributable to equity
holders of the parent 72.8 -24.9 47.8
Minority interest 7.6 7.6
Shareholders' equity 80.3 -24.9 55.4
Liabilities
Non-current liabilities
Interest bearing 68.3 19.8 88.1
Interest free 0.1 0.1
Provisions 0.9 0.9
Current liabilities
Interest bearing 51.1 3.3 54.4
Interest free 70.6 70.6
Provisions 1.1 1.1
Total liabilities 192.1 23.2 215.2
Total liabilities and shareholders' equity 272.4 -1.7 270.7
Changes in profit/loss for the period
Changes in profit/loss for the
period, MEUR 31.3.2004 30.6.2004 30.9.2004 31.12.2004
Profit and loss for the period,FAS 10.5 15.9 16.2 20.6
IAS 16 Revaluation of real estates -0.1 -0.2 -0.4 -0.5
IAS 37 Reclamation provision -0.1 -0.1 -0.2 -0.2
IAS 36 Goodwill amortization and
write-downs 0.1 0.3 0.4 0.5
IAS 28 Goodwill in share of the
associated companies' result 0.2 0.3 0.5 0.7
IAS 12 Deferred taxes -0.5 -2.9 -2.6 -5.3
IAS 28 Mutual realestate company 0.0 -0.1 -0.1 -0.1
IAS 17 Finance leases 0.1 0.2 0.3 0.5
IAS 2 Revaluation of inventories - - - -0.2
IFRS 3 Acquisition of De Globe 1.2 0.3 0.0 -0.2
IFRS adjustments, total 0.9 -2.2 -2.0 -5.0
Profit and loss for the period, IFRS 11.3 13.7 14.2 15.6
Statement of changes in shareholders' equity
Statement of changes in
shareholders' equity,
MEUR 1.1.2004 31.3.2004 30.6.2004 30.9.2004 31.12.2004
Shareholders' equity FAS
without capital notes 33.9 54.3 59.5 59.6 63.5
IAS 16 Revaluation of
real estates 1.4 -0.7 -0.9 -1.0 -1.1
IAS 37 Reclamation
provision -0.2 -0.4 -0.4 -0.4 -0.4
IAS 36 Goodwill
amortization and write-downs -0.8 -0.6 -0.5 -0.4 -0.2
IAS 28 Goodwill in share
of the associated
companies' result - 0.2 0.3 0.5 0.7
IAS 12 Deferred taxes 2.6 2.1 -0.3 0.0 -2.7
IAS 28 Mutual realestate
company -4.5 -4.5 -4.5 -4.5 -4.6
IAS 17 Finance leases 0.3 2.4 2.5 2.6 2.8
IAS 2 Revaluation of
inventories 0.2 0.2 0.2 0.2 -
IFRS 3 Acquisition of
De Globe - 0.2 -0.7 -1.1 -1.8
IFRS adjustments, total -0.9 -1.1 -4.2 -4.0 -7.4
Shareholders' equity IFRS
without capital notes 33.0 53.2 55.3 55.6 56.1
Capital notes 25.4 24.2 24.2 24.2 24.2
Shareholders' equity IFRS
with capital notes 58.4 77.4 79.6 79.8 80.3
Segments
Cast Components, IFRS, MEUR 31.3.2004 30.6.2004 30.9.2004 31.12.2004
Assets 162.7 176.9 183.2 180.4
Liabilities 66.5 73.5 61.2 63.3
Investments in non-current assets
incl. finance leases 6.7 14.0 25.1 35.1
Depreciation 3.5 6.6 10.4 13.6
Nordic countries, IFRS, MEUR 31.3.2004 30.6.2004 30.9.2004 31.12.2004
Assets 175.0 183.2 189.2 197.2
Investments in non-current assets
incl. finance leases 2.5 7.6 16.8 21.7
Other European countries, IFRS, MEUR 31.3.2004 30.6.2004 30.9.2004 31.12.2004
Assets 65.2 68.0 71.8 72.3
Investments in non-current assets
incl. finance leases 4.4 6.8 9.5 15.3
Group development, IFRS
Net sales by market area
MEUR 1.1.-31.12.2004
Nordic countries 167.9
Other European countries 133.8
Other countries 14.3
Total 316.0
Quarterly development by market area
MEUR Q1/2004 Q2/2004 Q3/2004 Q4/2004
Nordic countries 39.4 43.0 36.1 49.4
Other European countries 30.6 34.8 30.6 37.8
Other countries 2.9 3.3 3.7 4.3
Total 73.0 81.1 70.4 91.4
Group development
MEUR 1.1.-31.12.2004
Net sales 316.0
Operating profit 25.7
Net financial items -7.9
Profit/loss after financial items 17.9
Group development by business group
Net sales, MEUR 1.1.-31.12.2004
Componenta Cast Components 166.1
De Globe 109.4
Cast Components 275.5
Other business 40.4
Componenta Group total 316.0
Operating profit, MEUR 1.1.-31.12.2004
Componenta Cast Components 12.4
De Globe -1.1
Cast Components 11.3
Other business 14.4
Componenta Group total 25.7
Order book, MEUR 31.12.2004
Componenta Cast Components 27.3
De Globe 23.9
Cast Components 51.2
Other business 8.0
Componenta Group total 59.2
Group development by quarter
MEUR Q1/2004 Q2/2004 Q3/2004 Q4/2004
Net sales 73.0 81.1 70.4 91.4
Operating profit 15.9 4.3 1.9 3.6
Net financial items -1.8 -1.8 -1.9 -2.4
Profit/loss after financial items 14.1 2.6 0.0 1.3
Quarterly development by business group
Net sales, MEUR Q1/2004 Q2/2004 Q3/2004 Q4/2004
Componenta Cast Components 38.7 43.0 37.3 47.1
De Globe 25.2 28.1 25.0 31.1
Cast Components 63.9 71.1 62.3 78.2
Other business 9.1 9.9 8.1 13.2
Componenta Group total 73.0 81.1 70.4 91.4
Operating profit, MEUR Q1/2004 Q2/2004 Q3/2004 Q4/2004
Componenta Cast Components 2.0 4.2 1.7 4.5
De Globe 0.1 0.1 -0.4 -0.9
Cast Components 2.1 4.3 1.3 3.6
Other business 13.8 0.0 0.6 0.0
Componenta Group total 15.9 4.3 1.9 3.6
Order book at period end, MEUR Q1/2004 Q2/2004 Q3/2004 Q4/2004
Componenta Cast Components 22.7 27.2 29.7 27.3
De Globe 19.9 20.0 22.3 23.9
Cast Components 42.6 47.2 52.0 51.2
Other business 5.5 5.4 7.9 8.0
Componenta Group total 48.0 52.6 59.9 59.2
Group development excluding one-time items
MEUR 1.1.-31.12.2004
Net sales 316.0
Operating profit 12.5
Net financial items -7.9
Profit/loss after financial items 4.6
Group development by business group excluding one-time items
Operating profit, MEUR 1.1.-31.12.2004
Componenta Cast Components 12.4
De Globe -1.7
Cast Components 10.7
Other business 1.8
Componenta Group total 12.5
Group development by quarter excluding one-time items
MEUR Q1/2004 Q2/2004 Q3/2004 Q4/2004
Net sales 73.0 81.1 70.4 91.4
Operating profit 2.3 4.5 1.8 3.9
Net financial items -1.8 -1.8 -1.9 -2.4
Profit/loss after financial items 0.5 2.7 -0.1 1.5
Quarterly development by business group excluding one-time items
Operating profit, MEUR Q1/2004 Q2/2004 Q3/2004 Q4/2004
Componenta Cast Components 2.0 4.2 1.7 4.5
De Globe 0.1 0.1 -0.4 -1.5
Cast Components 2.1 4.3 1.3 3.0
Other business 0.2 0.2 0.5 0.9
Componenta Group total 2.3 4.5 1.8 3.9
Helsinki, 7 April 2005
COMPONENTA CORPORATION
Heikki Lehtonen
President and CEO
Further information:
Heikki Lehtonen
President and CEO
tel. +358 10 403 00
Kimmo Virtanen
CFO
tel +358 10 403 00
