Pihlajalinna Plc:Pihlajalinna pays contingent consideration in relation to the Itä-Suomen Lääkärikeskus Oy acquisition
Pihlajalinna Plc, Stock Exchange Release 6 July 2016 at 9.00
Pihlajalinna pays contingent consideration in relation to the Itä-Suomen Lääkärikeskus Oy acquisition
Pihlajalinna pays contingent consideration of EUR 1.5 million in relation to the acquisition of Itä-Suomen Lääkärikeskus Oy. Also the net cash 0.4 million euros will be paid at the same time.
The contingent consideration is based on the company's adopted Annual Accounts 2015 which turned out better than anticipated. The contingent consideration will be paid on 6 July 2016.
The additional purchase price was registered on 31 March 2016 as contingent consideration and the payment of it has no effect on Pihlajalinna's profit.
| P&L summary, Itä-Suomen Lääkärikeskus Oy (FAS) | |||
| € 000 | FY13A | FY14A | FY15A |
| Net sales | 11 396 | 11 753 | 13 105 |
| Other operating income | 133 | 113 | 70 |
| Materials and supplies | -6 548 | -6 799 | -7 637 |
| Personnel expenses | -2 052 | -2 114 | -2 168 |
| Other operating expenses | -1 331 | -1 498 | -1 577 |
| EBITDA | 1 598 | 1 456 | 1 793 |
| Depreciation and amortization | -275 | -466 | -469 |
| EBIT | 1 323 | 991 | 1 323 |
| Financial income | 181 | 111 | 181 |
| Financial expenses | -17 | -48 | -28 |
| Taxes | -366 | -212 | -301 |
| Profit for the year | 1 121 | 841 | 1 176 |
| Balance sheet summary, Itä-Suomen Lääkärikeskus Oy (FAS) | |||
| € 000 | 31.12.2013 | 31.12.2014 | 31.12.2015 |
| Intangible assets | 1 680 | 1 595 | 1 311 |
| Tangible assets | 374 | 329 | 325 |
| Investments | 3 792 | 5 049 | 5 832 |
| Non-current assets | 5 846 | 6 972 | 7 468 |
| Loan receivables | 54 | 54 | 0 |
| Inventories | 343 | 328 | 304 |
| Short-term receivables | 799 | 855 | 1012 |
| Short-term investments | 405 | 191 | 10 |
| Cash and cash equivalents | 133 | 115 | 297 |
| Total assets | 7 579 | 8 515 | 9 091 |
| Equity | 6 775 | 7 104 | 7 795 |
| Long-term loans | 27 | 609 | 451 |
| Short-term loans | 777 | 802 | 845 |
| Total equity and liabilities | 7 579 | 8 515 | 9 091 |
Further information
Terhi Kivinen, SVP, Communications, Marketing and IR, Pihlajalinna Plc, +358 40 848 4001, terhi.kivinen@pihlajalinna.fi
Distribution
Nasdaq Helsinki Oy
Major media
investors.pihlajalinna.fi