Interim Report 1 January ? 31 March 2006
Componenta Corporation Stock Exchange Release 13.4.2006 at 9.30
Interim Report 1 January 31 March 2006
* Net sales in January March 2006 totalled MEUR 93.6 (MEUR 93.2);
net sales of the Cast Components business group increased 3% and that of
other operations fell 14%.
* Operating profit was MEUR 5.3 (3.9) and the result after
financial items was MEUR 3.1 (1.8).
* The earnings per share were EUR 0.23 (0.14).
* Componenta's net sales and result after financial items,
excluding one-time items, for the second quarter of 2006 are forecast to
be at the same level as in the corresponding period
of the previous year.
Net sales and order book
The Group had net sales in the January March review period of
EUR 93.6 (93.2) million and an order book of EUR 65.5 (63.8) million at
the end of March. The Cast Components business group had sales of
EUR 81.0 (78.6) million and other operations of EUR 12.6 (14.6) million.
At the end of the review period, Cast Components had an order book of
EUR 58.7 (55.2) million and other operations of EUR 6.8 (8.6) million.
Componenta's deliveries to the heavy truck industry declined 10% in the
first quarter from the corresponding quarter in the previous year but
rose 8% from the final quarter in the previous year. Sales to off-road
manufacturers grew 11%, deliveries to the power and transmission
industries rose 19%, and sales to the machine building industry grew 9%
in the first quarter from the corresponding period in the previous year.
Componenta's net sales by customer sector were as follows: heavy truck
industry 44% (49%), off-road 27% (25%), machinery and equipment
manufacturers 15% (14%), power and transmission 12% (10%),
and others 2% (2%).
Componenta's net sales by market area were as follows: Nordic
countries 49% (51%), other European countries 45% (43%) and other
countries 6% (6%).
Result
The interim report has been produced in accordance with the recognition
and valuation principles of the International Financial Reporting
Standards. In drafting its interim report, Componenta has applied the
same accounting principles as with the 2005 Financial Statements. The
figures presented in the interim report are unaudited.
Componenta Group made an operating profit of EUR 5.3 (3.9) million and
the result after financial items was EUR 3.1 (1.8) million. The Cast
Components business group had an operating profit of
EUR 5.0 (2.3) million and other operations recorded an operating profit
of EUR 0.3 (1.6) million. The Group had no one-time items during
the first quarter.
The Group's net financial costs amounted to EUR -2.2 (-2.1) million.
The consolidated result after financial items improved from the previous
year mainly due to enhanced efficiency in the operations of the Cast
Components business group. The operating losses recorded by the Karkkila
foundry and the Heerlen furan foundry continued to weaken
Cast Components' operating profit. Steel scrap prices stabilized in
the first part of the year.
Income taxes were EUR -0.9 (-0.3) million.
The earnings per share were EUR 0.23 (0.14).
The return on investment was 11.5% (8.3%) and return on
equity 17.9% (10.7%).
Financing
On 31 March 2006 Componenta Corporation had outstanding capital notes and
convertible bonds with a combined value of EUR 34.7 million, as defined
in IFRS. In March the Group repaid EUR 3.2 million, or 10%, of the
principal of the preferred capital notes in accordance with the terms for
the notes.
The Group had EUR 60.0 million in non-utilised long-term credit
facilities at the end of the review period. In addition, the Group has a
EUR 60.0 million commercial paper programme. The Group's interest-
bearing net debt, excluding the EUR 34.7 million in outstanding capital
notes, totalled EUR 107.9 (114.5) million. Net gearing, including the
capital notes in shareholders' equity, was 125% (125%).
Componenta is making more effective use of capital with a programme to
sell its sales receivables. Under this arrangement, some of the sales
receivables are sold without any right of recourse. By 31 March 2006 the
company had sold sales receivables totalling EUR 25.4 (18.8) million.
The cash flow from operations during the review period was
EUR 4.6 (-0.6) million, and of this the change in net working capital
was EUR -6.5 (-8.9) million. The cash flow from investments was
EUR 1.4 (-5.4) million.
The Group's equity ratio was 18.9% (19.6%) and the equity ratio,
including capital notes in shareholders' equity, was 31.6% (33.0%).
Performance of business groups
The organizational structure of Componenta Group was altered on
1 November 2005 and the Group's production units were organized into three
business divisions Foundries, Machine Shops and Heavy Components.
Together these form the Cast Components business segment. Other Business
comprises the Wirsbo forges, associated companies, the Group's support
functions and service companies, and divested business.
Foundries
The Foundries division contains the Group's foundries in Karkkila, Pori,
Pietarsaari and Weert as well as the HWS business unit at the Heerlen
foundry. The division had net sales in the first quarter of
EUR 45.9 (45.0) million and an operating profit of EUR 3.3 (1.5) million.
The division's operating profit improved from the previous year
mainly due to raising efficiency in operations. The Karkkila foundry
recorded an operating loss in the first quarter of EUR -1.8 (-1.7) million.
The programme to stabilize and enhance operations underway at Karkkila is
expected to reduce the unit's operating loss in the current year from the
previous year.
Machine Shops
The Machine Shops division consists of the Främmestad, Åmål and Albin
machine shops in Sweden, the machine shops in Pori and Pietarsaari in
Finland, and the machine shop functions in the Netherlands.
The division had net sales in January March of
EUR 40.3 (36.8) million and an operating profit of EUR 2.6 (1.8) million.
The investments carried out in 2004 and 2005 increased the division's
sales and improved the efficiency of its operations.
Heavy Components
The Heavy Components division contains the Group's furan foundries in
Iisalmi, Finland and Heerlen, the Netherlands, and the machine shops
Componenta Nisamo in Lempäälä and Componenta Pistons in Pietarsaari. The
division had net sales in January March of EUR 13.9 (10.5) million and
an operating loss of EUR -0.1 (-0.9) million. The division's operating
loss declined from the previous year mainly due to the growth in sales
and the improved efficiency in the operations of the Heerlen furan
foundry. The Heerlen furan foundry made an operating loss in the first
quarter of EUR -0.8 (1.3) million. The programme to stabilize and enhance
operations at the unit is expected to continue to reduce the Heerlen
furan foundry's operating loss during the current year.
Other Business
Other Business had net sales in January - March of
EUR 12.6 (14.6) million and an operating profit of EUR 0.3 (1.6) million.
Sales by the Wirsbo forges fell 15% from the previous year to
EUR 12.1 million and the operating profit declined from the previous year
in consequence of the lower sales. Componenta's share of the result
of the associated companies was EUR 0.2 (0.6) million. Associated
company Ulefos NV recorded net sales of EUR 8.0 (8.6) million and
profit after financial items of EUR 0.5 (0.8) million. The cold winter
with much snow in the Nordic countries had a seasonal impact on Ulefos,
which manufactures manhole covers, reducing sales and profit.
Shares and share capital
The shares of Componenta Corporation are quoted on the main list of the
Helsinki Exchanges. At the end of the review period the company's share
capital stood at EUR 19.3 million. The shares have a nominal value of
2 euros. At the end of the review period on 31 March 2006 the quoted
price of Componenta Corporation shares stood at EUR 6.13 (EUR 7.38). The
average price during the year was EUR 5.58, the lowest quoted price was
EUR 5.29 and the highest EUR 6.23. At the end of the review period the
share capital had a market value of EUR 59.0 million (EUR 71.0 million)
and the volume of shares traded during the review period was equivalent
to 15% (16%) of the share stock.
The Annual General Meeting of Shareholders decided not to pay a dividend
for 2005, in accordance with the proposal of the Board of Directors.
On 8 February 2006, Componenta received notification from Oy EtraInvest Ab
that its share of the voting rights and share capital of Componenta
Corporation had exceeded 20% through a share transaction on 8 February 2006.
On 31 March 2006, Oy Etra-Invest Ab held 23.1% of the share capital
and voting rights of Componenta Corporation.
Purchasing and disposing of company shares
The company's Board of Directors holds no current authorization to
purchase or dispose of the company's own shares.
Investments
Investments in production facilities during the review period totalled
EUR 2.3 (8.3) million, and finance lease investments accounted for
EUR 0.5 million of these. The net cash flow from investments was
EUR -1.4 (-5.4) million.
Board of Directors and Management
Componenta's Annual General Meeting of Shareholders on 8 February 2006
elected the following to the Board of Directors: Heikki Bergholm,
Heikki Lehtonen, Juhani Mäkinen, Marjo Raitavuo and Matti Tikkakoski.
The Board elected Heikki Bergholm as its Chairman and Juhani Mäkinen
as Vice Chairman.
At the end of the review period, the corporate executive team of
Componenta Group was formed by President and CEO Heikki Lehtonen;
Olli Karhunen, Director, Heavy Components; Jari Leino, Director, Sales and
Product Development; Anu Mankki, Director, Human Resources; Marc Omes,
Director, Sales and Product Development; Michael Sjöberg, Director,
Machine Shops; Kimmo Suupohja, Director, Foundries; CFO Kimmo Virtanen
and Communications Manager Pirjo Aarniovuori.
Personnel
During the review period the Group had on average 2140 (2196) employees.
At the end of March 2006, 47% (47%) of the Group's personnel were in
Finland, 26% (25%) in the Netherlands and 27% (28%) in Sweden.
Prospects
Componenta's prospects in 2006 are based on general external financial
indicators, order forecasts given by customers, and on Componenta's order
intake and order book.
Demand for heavy truck components in the first quarter of 2006 fell short
of the corresponding period in the previous year. The introduction of new
environmental standards in Europe on 1 October 2006 coupled with improved
economic prospects will increase demand for heavy trucks in Europe at
least in the short term. Demand for components from the off-road and
power and transmission industries and from machinery and equipment
manufacturers increased in the first quarter from the corresponding
period in the previous year.
The technical aspects of the investments carried out in 2004 and 2005 at
Karkkila in Finland, Heerlen in the Netherlands and Främmestad in Sweden
were completed last year. Running in the investments operationally at
Karkkila and Heerlen continues during 2006. The goal is to reduce the
operating losses at these units during 2006 and to achieve an operating
profit at the Karkkila and Heerlen units in 2007.
Componenta's order book at the end of the first quarter of 2006 stood at
the same level as in the corresponding period in the previous year and
was higher than at the end of 2005. Componenta's net sales and result
after financial items, excluding one-time items, for the second quarter
of 2006 are forecast to be at the same level as in the corresponding
period of the previous year.
Income statement
1.1.- 1.1.- 1.1.-
MEUR 31.3.2006 31.3.2005 31.12.2005
Net sales 93.6 93.2 343.2
Other operating income 0.1 0.2 3.5
Operating expenses -84.4 -86.1 -327.0
Depreciation, amortization and write-down -4.3 -4.0 -16.5
Negative goodwill recognized as income - - 4.6
Share of the associated companies' result 0.2 0.6 2.1
Operating profit 5.3 3.9 9.9
% of net sales 5.7 4.2 2.9
Financial income and expenses -2.2 -2.1 -8.9
Result after financial items 3.1 1.8 1.0
% of net sales 3.3 1.9 0.3
Income taxes -0.9 -0.3 1.2
Net profit 2.2 1.5 2.2
Allocation of net profit for the period
To equity holders of the parent 2.2 1.4 2.5
To minority interest 0.0 0.1 -0.3
2.2 1.5 2.2
Earning per share calculated on the
profit attributable to equity holders of
the parent
Earnings per share, EUR 0.23 0.14 0.26
Earnings per share with dilution, EUR 0.21 0.14 0.26
Income statement excluding one-time items
MEUR 1.1.-31.3.2006 1.1.-31.3.2005 1.1.-31.12.2005
Net sales 93.6 93.2 343.2
Other operating income 0.1 0.1 1.1
Operating expenses -84.4 -86.1 -323.4
Depreciation, amortization and write-down -4.3 -4.0 -16.5
Negative goodwill recognized as income - - -
Share of the associated companies' result 0.2 0.6 2.1
Operating profit 5.3 3.8 6.6
% of net sales 5.7 4.1 1.9
Financial income and expenses -2.2 -2.1 -8.9
Result after financial items 3.1 1.7 -2.4
% of net sales 3.3 1.9 -0.7
Balance sheet
MEUR 1.1.-31.3.2006 1.1.-31.3.2005 1.1.-31.12.2005
Assets
Non-current assets
Intangible assets 2.2 1.8 2.1
Goodwill 0.5 0.5 0.5
Investment properties 1.9 1.9 1.9
Tangible assets 160.3 161.5 162.5
Investment in associates 6.6 10.6 6.9
Receivables 0.9 1.9 1.0
Other investments 0.5 1.1 0.5
Defferred tax assets 8.2 7.0 9.0
Total non-current assets 181.2 186.3 184.6
Current assets
Inventories 39.2 39.6 37.8
Receivables 50.3 49.2 41.5
Cash and bank accounts 2.9 2.6 5.3
Total current assets 92.4 91.3 84.6
Total assets 273.6 277.6 269.1
Liabilities and shareholders' equity
Shareholders' equity
Share capital 19.3 19.2 19.3
Other equity 31.0 26.0 27.8
Equity part of convertible capital notes 1.5 1.5 1.5
Equity attributable to equity holders
of the parent 51.7 46.7 48.5
Minority interest 0.1 7.7 0.1
Shareholders' equity 51.8 54.4 48.6
Liabilities
Non-current
Capital loan 31.8 34.5 34.9
Interest bearing 57.8 63.5 57.8
Interest free 0.1 0.2 0.1
Provisions 0.6 1.2 0.7
Deferred tax liability 1.1 - 0.7
Current
Capital loan 2.9 2.8 2.9
Interest bearing 53.1 53.6 54.3
Interest free 73.9 67.0 68.9
Provisions 0.5 0.5 0.4
Total liabilities 221.8 223.2 220.5
Total liabilities and shareholders'
equity 273.6 277.6 269.1
Cash flow statement
1.1.- 1.1.- 1.1.-
MEUR 31.3.2006 31.3.2005 31.12.2005
Cash flow from operations
Result after financial items 3.1 1.8 1.0
Depreciation, amortization and write-down 4.3 4.0 11.9
Net financial income and expenses 2.2 2.1 8.9
Other income and expenses, adjustments to
cash flow 3.8 3.0 -4.7
Change in net working capital -6.5 -8.9 8.7
Cash flow from operations before financing
and income taxes 6.9 2.0 25.8
Interest received and paid and dividends
received -2.3 -2.6 -7.2
Taxes paid 0.0 0.0 0.0
Net cash flow from operations 4.6 -0.6 18.6
Cash flow from investing activities
Capital expenditure in tangible and
intangible assets -1.4 -5.5 -17.5
Proceeds from tangible and intangible assets 0.0 0.0 0.2
Other investments and loans granted 0.0 0.0 -2.7
Proceeds from other investments and
repayments of loan receivables 0.0 0.1 8.4
Net cash flow from investing activities -1.4 -5.4 -11.6
Cash flow from financing activities
Dividends paid 0.0 -4.8 -4.8
Share issue 0.0 0.0 0.1
Draw-down (+)/ repayment (-) of the equity
part of convertible capital notes 0.0 1.5 1.5
Repayment of finance lease liabilities -0.5 -0.4 -1.8
Draw-down (+)/ repayment (-) of current loans -1.4 5.4 1.3
Draw-down (+)/ repayment (-) of
non-current loans -3.7 5.7 1.0
Net cash flow from financing activities -5.6 7.4 -2.8
Change in liquid assets -2.4 1.4 4.1
Cash and bank account at the beginning of
the period 5.3 1.2 1.2
Cash and bank account at the period end 2.9 2.6 5.3
Change during the financial period -2.4 1.4 4.1
Statement of changes in shareholder's equity
Share-
Share Re- hold-
Share premi- Other tained Minori- der's
capi- um ac- reser- Other ear- To- ty in- equity
MEUR tal count ves items nings tal terest total
Shareholder's equity
1.1.2005 19.2 11.5 0.0 0.0 17.1 47.9 7.6 55.4
Derivatives 0.7 0.1 0.8 0.8
Other changes 0.0 -0.1 -0.1 -0.1
Dividends paid -4.8 -4.8 -4.8
Increase of share
capital (warrants) 0.0 0.0 0.0 0.0
Change in minority
interest 0.0 0.0
Equity share of
convertible capital notes 1.5 1.5 1.5
Profit/loss for the
period 1.4 1.4 0.1 1.5
Shareholder's equity
31.3.2005 19.2 11.6 2.2 0.0 13.7 46.7 7.7 54.4
Share-
Share Re- hold-
Share premi- Other tained Minori- der's
capi- um ac- reser- Other ear- To- ty in- equity
MEUR tal count ves items nings tal terest total
Shareholder's equity
1.1.2006 19.3 11.6 2.4 0.1 15,3 48.5 0.1 48.6
Derivatives 1.1 1.1 1.1
Other changes -0.1 -0.1 -0.1
Increase of share
capital (warrants) 0.0 0.0 0.0 0.0
Equity share of
convertible capital notes 0.0 0.0 0.0
Profit/loss for the
period 2.2 2.2 0.0 2.2
Shareholder's equity
31.3.2006 19.3 11.6 3.5 -0.1 17.5 51.7 0.1 51.8
Key Ratios
31.3.2006 31.3.2005 31.12.2005
Equity ratio, % 18.9 19.6 18.1
Equity ratio, %, preferred capital note
in equity 31.6 33.0 32.1
Equity per share, EUR 5.37 4.86 5.04
Invested capital 197.3 208.8 198.4
Return on investment, % 11.5 8.3 5.0
Return on equity, % 17.9 10.7 4.2
Net interest bearing debt, MEUR,
preferred capital note in debt 142.6 151.8 144.5
Net interest bearing debt, MEUR
preferred capital note in equity 107.9 114.5 106.8
Net gearing, %, preferred capital note in debt 275.1 278.9 297.5
Net gearing, %, preferred capital note in equity 124.8 124.9 123.7
Order book, MEUR 65.5 63.8 60.4
Investments in non-current assets without
finance leases, MEUR 1.8 5.8 17.9
Investments in non-current assets
incl. finance leases, MEUR 2.3 8.3 25.1
Average number of personnel during the period 2,140 2,192 2,214
Number of personnel at period end 2,133 2,196 2,185
Share of export and foreign activities in
net sales, % 86.3 84.8 81.9
Contingent liabilities, MEUR 100.2 97.6 100.2
Segments
Cast Components, MEUR 31.3.2006 31.3.2005 31.12.2005
Assets 182.7 189.2 181.8
Liabilities 68.1 59.2 61.5
Investments in non-current assets incl.
finance leases 1.2 7.9 20.0
Depreciation 3.7 3.5 14.3
Nordic countries, MEUR 31.3.2006 31.3.2005 31.12.2005
Assets 197.3 196.9 194.7
Investments in non-current assets incl.
finance leases 2.1 4.9 19.1
Other European countries, MEUR 31.3.2006 31.3.2005 31.12.2005
Assets 76.3 72.1 74.4
Investments in non-current assets incl.
finance leases 0.2 3.4 6.0
Group development
Net sales by market area
MEUR 1.1.-31.12.2005 1.1.-31.3.2005 1.1.-31.3.2006
Nordic countries 175.9 47.5 45.6
Other European countries 146.8 40.4 42.1
Other countries 20.5 5.3 5.9
Total 343.2 93.2 93.6
Quarterly development by market area
MEUR Q1/2005 Q2/2005 Q3/2005 Q4/2005 Q1/2006
Nordic countries 47.5 49.4 34.7 44.3 45.6
Other European countries 40.4 39.7 32.2 34.6 42.1
Other countries 5.3 6.3 5.5 3.5 5.9
Total 93.2 95.3 72.4 82.3 93.6
Group development
MEUR 1.1.-31.12.2005 1.1.-31.3.2005 1.1.-31.3.2006
Net sales 343.2 93.2 93.6
Operating profit 9.9 3.9 5.3
Net financial items -8.9 -2.1 -2.2
Profit/loss after financial items 1.0 1.8 3.1
Group development by business group
Net sales, MEUR 1.1.-31.12.2005 1.1.-31.3.2005 1.1.-31.3.2006
Foundries 167.5 45.0 45.9
Machine shops 136.2 36.8 40.3
Heavy components 47.3 10.5 13.9
Internal sales -55.6 -13.7 -19.1
Cast Components total 295.4 78.6 81.0
Other business 47.8 14.6 12.6
Componenta total 343.2 93.2 93.6
Operating profit, MEUR 1.1.-31.12.2005 1.1.-31.3.2005 1.1.-31.3.2006
Foundries 2.4 1.5 3.3
Machine shops 5.4 1.8 2.6
Heavy components -2.8 -0.9 -0.1
Other items -0.5 -0.1 -0.8
Cast Components total 4.5 2.3 5.0
Other business 5.4 1.6 0.3
Componenta total 9.9 3.9 5.3
Order book, MEUR 31.12.2005 31.3.2005 31.3.2006
Cast Components total 54.1 55.2 58.7
Other business 6.3 8.6 6.8
Componenta total 60.4 63.8 65.5
Group development by quarter
MEUR Q1/2005 Q2/2005 Q3/2005 Q4/2005 Q1/2006
Net sales 93.2 95.3 72.4 82.3 93.6
Operating profit 3.9 8.6 -1.9 -0.7 5.3
Net financial items -2.1 -2.2 -2.3 -2.3 -2.2
Profit/loss after
financial items 1.8 6.4 -4.2 -3.0 3.1
Quarterly development by business group
Net sales, MEUR Q1/2005 Q2/2005 Q3/2005 Q4/2005 Q1/2006
Foundries 45.0 47.0 36.1 39.2 45.9
Machine shops 36.8 37.5 28.6 33.3 40.3
Heavy components 10.5 13.6 11.2 12.1 13.9
Internal sales -13.7 -16.4 -12.4 -13.2 -19.1
Cast Components total 78.6 81.7 63.5 71.5 81.0
Other business 14.6 13.6 8.9 10.8 12.6
Componenta total 93.2 95.3 72.4 82.3 93.6
Operating profit, MEUR Q1/2005 Q2/2005 Q3/2005 Q4/2005 Q1/2006
Foundries 1.5 2.0 -0.9 -0.2 3.3
Machine shops 1.8 1.6 0.4 1.5 2.6
Heavy components -0.9 0.1 -1.1 -0.9 -0.1
Other items -0.1 0.2 0.0 -0.6 -0.8
Cast Components total 2.3 4.0 -1.5 -0.2 5.0
Other business 1.6 4.6 -0.4 -0.5 0.3
Componenta total 3.9 8.6 -1.9 -0.7 5.3
Order book at period end,
MEUR Q1/2005 Q2/2005 Q3/2005 Q4/2005 Q1/2006
Cast Components total 55.2 55.1 49.2 54.1 58.7
Other business 8.6 7.4 6.4 6.3 6.8
Componenta total 63.8 62.4 55.6 60.4 65.5
Group development excluding one-time items
MEUR 1.1.-31.12.2005 1.1.-31.3.2005 1.1.-31.3.2006
Net sales 343.2 93.2 93.6
Operating profit 6.6 3.8 5.3
Net financial items -8.9 -2.1 -2.2
Profit/loss after financial items -2.4 1.7 3.1
Group development by business group excluding one-time items
Operating profit, MEUR 1.1.-31.12.2005 1.1.-31.3.2005 1.1.-31.3.2006
Foundries 2.4 1.5 3.3
Machine shops 5.4 1.8 2.6
Heavy components -2.8 -0.9 -0.1
Other items -0.5 -0.1 -0.8
Cast Components total 4.5 2.3 5.0
Other business 2.1 1.5 0.3
Componenta total 6.6 3.8 5.3
Group development by quarter excluding one-time items
MEUR Q1/2005 Q2/2005 Q3/2005 Q4/2005 Q1/2006
Net sales 93.2 95.3 72.4 82.3 93.6
Operating profit 3.8 4.7 -1.6 -0.3 5.3
Net financial items -2.1 -2.2 -2.3 -2.3 -2.2
Profit/loss after
financial items 1.7 2.5 -4.0 -2.6 3.1
Quarterly development by business group excluding one-time items
Operating profit, MEUR Q1/2005 Q2/2005 Q3/2005 Q4/2005 Q1/2006
Foundries 1.5 2.0 -0.9 -0.2 3.3
Machine shops 1.8 1.6 0.4 1.5 2.6
Heavy components -0.9 0.1 -1.1 -0.9 -0.1
Other items -0.1 0.2 0.0 -0.6 -0.8
Cast Components total 2.3 4.0 -1.5 -0.2 5.0
Other business 1.5 0.7 -0.1 -0.1 0.3
Componenta total 3.8 4.7 -1.6 -0.3 5.3
Largest registered shareholders on 31 March 2006
Share of total
voting rights
Shareholder Shares %
1 Lehtonen Heikki 3,811,131 39.58%
Cabana Trade S.A. 3,676,731
Oy Högfors-Trading Ab 115,900
Heikki Lehtonen 18,500
2 Etra-Invest Oy 2,224,750 23.11%
3 Inkinen Simo-Pekka 455,844 4.73%
4 Nordea Life Assurance Finland Ltd. 306,425 3.18%
5 Ilmarinen Mutual Pension Insurance Company 257,600 2.68%
6 Lehtonen Anna-Maria 178,823 1.86%
7 Lehtonen Yrjö M 106,040 1.10%
8 Bergholm Heikki 101,000 1.05%
9 Hietala Pekka 97,000 1.01%
10 Finnish Cultural Foundation 75,000 0.78%
Nominee-registered shares 190,776 1.98%
Other shareholders 1,824,320 18.95%
Total 9,628,709 100.00%
The members of the Board of Directors own 40.7% of the shares. All shares
have equal voting rights.
The members of the Board of Directors hold 10.8% of the outstanding
warrants.
If all the warrants were converted to shares, the holding of shares by
the members of the Board of Directors would decrease to 39.4%.
Helsinki, 13 April 2006
COMPONENTA CORPORATION
Board of Directors
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
