REVENIO GROUP CORPORATION INTERIM REPORT Q1/2009: LOWER BUSINESS VOLUME IN THE SERVICES SEGMENT TRIMMED PROFITABILITY
Revenio Group Corporation
Stock exchange release April 28, 2009 at 9.15 a.m.
REVENIO GROUP CORPORATION INTERIM REPORT Q1/2009
Lower business volume in the services segment trimmed profitability
- Consolidated net sales EUR 9.1 million (EUR 12.2 million), down by 25.6
percent
- Consolidated operating profit EUR -0.2 million (EUR 1.4 million),
Or -2.3 percent of net sales (11.4 of net sales)
- Pre-tax profit EUR -0.2 million (EUR 1.4 million)
- Diluted and undiluted earnings per share EUR -0.002 (EUR 0.013)
- Cash flow from operating activities EUR -0.4 million (EUR 0.9 million)
- Profitability was weaker, especially in the Services and Systems segments due
to a market situation marked by lower demand
- The AGM of April 15, 2009 decided on the distribution of a dividend of EUR
0.02 per share (EUR 0.04 per share)
- On April 20, 2009, Done Solutions Corporation changed its name to Revenio
Group Corporation
-Full-year operating profit is expected to be slightly positive
In connection with the release of this interim report's figures, Olli-Pekka
Salovaara, President and CEO, noted the following:
“The start of the year was marked by a challenging market situation that was
especially visible in the Services and Systems segments, which turned from
profit to loss. Profitability in the Technology segment was also slightly
curtailed in comparison with the success of 2008. On the other hand, the Safety
and Health Care segments posted good results in terms both of net sales and
profitability.
We are working continuously to bring the loss-making segments back into
profitability.”
NET SALES, PROFITABILITY AND PROFIT
Revenio Group Corporation's consolidated net sales in Q1 totaled EUR 9.1
million (EUR 12.2 million). This represents a 25.6% reduction on the
corresponding period last year.
Consolidated operating profit was EUR -0.2 million (EUR 1.4 million), down by
115 percent. Pre-tax profit was EUR -0.2 million (EUR 1.4 million). Net profit
was EUR -0.2 million (EUR 1.0 million).
Both undiluted and diluted earnings per share totaled EUR -0.002 (EUR 0.013)
The present economic downturn impacted on the Services and Systems segments the
most, whose profit turned negative. The economic downturn also lowered net
sales and profitability in the Technology segment, which had a very successful
year in 2008.
In the Systems and Technology segments, the primary means by which
profitability can be improved is growth in sales volumes. In the Services
segment, improved profitability will require that present sales volumes are
maintained, at a minimum, alongside effective cost reductions.
BALANCE SHEET, FINANCIAL POSITION AND INVESTMENTS
At the end of the review period on March 31, 2009, the Group's balance sheet
totaled EUR 29.9 million (EUR 34.9 million). Shareholders' equity came to EUR
17.9 million (EUR 19.2 million). Interest-bearing liabilities amounted to EUR
4.7 million (EUR 3.6 million) and gearing stood at 7.8 percent (-1.2 percent).
The equity ratio was 60.0 percent (56 percent) and cash and cash equivalents
were EUR 3.3 million (EUR 3.9 million). During the review period, the Group
withdrew a EUR 2.0 million pension fund loan. In addition, the Group had a EUR
2.0 million checking account limit, from which no funds had been withdrawn at
the end of the review period.
Cash flow from operating activities amounted to EUR -0.4 million (EUR 0.9
million).
The Group's purchases of PPE and intangible assets totaled EUR 0.1 million (EUR
0.1 million)
OPERATIONS BY BUSINESS SEGMENT
Revenio Group Corporation has divided its business operations into five primary
business segments in accordance with IFRS standards: Services (Done
Information and Midas Touch), Systems (Done Logistics), Health Care (Icare
Finland), Safety (Boomeranger Boats) and Technology (Finnish Led-Signs).
Services
Of the Services segment companies, Done Information is one of Finland's biggest
translation and documentation services companies, and Midas Touch is a leading
Finnish Contact Center company.
During the review period, the net sales of the Services segment totaled EUR 4.4
million (EUR 5.5 million), a decline of 21.2 percent. The segment's profit was
EUR -0.5 million (EUR 0.5 million), down by 211 percent.
The net sales and profitability of Done Information were at a lower level than
in the corresponding period last year due to a fall in the average price level
and market conditions. The adjustment measures undertaken in the company are
expected to have a full impact on profitability, through lower costs, from Q2
onwards.
Demand for contact center services developed unfavorably early this year,
especially in household sales. This reduced Midas Touch's sales-based
commissions and therefore also profitability. The market situation is expected
to remain challenging.
In order to adjust personnel numbers to correspond with market conditions,
Midas Touch initiated statutory employer-employee negotiations covering all of
its employees on February 11, 2009. The negotiations prepared for layoffs,
part-timing and/or the termination of employment involving a maximum of 200
employees. The negotiations ended on April 1, 2009 with the decision to lay-off
at most 102 employees and terminate the employment contract of two employees in
2009. Some of these layoffs will be for a fixed period and some for an
indefinite period. These actions aim at cost savings of EUR 1.0 million in
2009.
Systems
The Systems segment consists of Done Logistics, which provides companies with
material handling systems and the supporting information systems for internal
logistics.
The net sales of the Services segment in Q1 totaled EUR 1,6 million (EUR 4.0
million), representing a reduction of 59 percent. The segment's profit was EUR
-0.03 million (EUR 0.61 million), down by 106 percent.
Net sales and profitability were impacted by the economic downturn, which has
reduced investments made by customer companies and made it more difficult to
acquire new customers. Some customers have also notified of delays in
investment decisions already made. The market situation is expected to remain
difficult.
Health Care
The Health Care segment consists of Icare Finland, which specializes in the
development, manufacture and sale of tonometers measuring intra ocular
pressure.
The net sales of the Health Care segment in Q1 totaled EUR 1.4 million (EUR 1.0
million), up by 39 percent. The segment's profit was EUR 0.5 million (EUR 0.4
million), up by 24 percent.
The favorable development in the Health Care segment's net sales and
profitability was primarily due to the successful reorganization of
distribution operations in the U.S. and higher sales that followed as a result.
Despite some regional variation, demand for tonometers has remained at a
satisfactory level.
Safety
The Safety segment comprises Boomeranger Boats, which designs, manufactures and
sells Rigid Inflatable Boats of the highest quality, primarily for navy rescue
units, authorities and security forces in various countries.
The net sales of the Safety segment in Q1 totaled EUR 1.0 million (EUR 0.8
million), up by 32 percent. The segment's profit was EUR 0.1 million (EUR 0.0
million), up by 232 percent.
The Safety segment's improved net sales and profitability was partly due to a
steady stream of incoming orders. For the time being, the economic downturn has
had no visible impact on demand within the segment.
Boomerang Boats won one of the Group's key new orders in Q1, with the sale of
EUR 1.2 million of RIB boats to a European customer. This order also
represented a major move into a new customer segment and market area. The
related deliveries are scheduled for 2010-2011.
Technology
Finnish Led-Signs, which makes up the Technology segment, is the largest
supplier of LED price displays in Scandinavia and Finland's leading
manufacturer of LED information displays and parking guide systems.
The net sales of the Technology segment in Q1 totaled EUR 0.6 million (EUR 0.9
million), a reduction of 27 percent. The segment's profit was EUR 0.03 million
(EUR 0.08 million), down by 65 percent.
In contrast to the record year achieved in 2008, demand for the segment's
products fell in its established market areas. Demand has been curtailed by the
general cyclical downturn in industrial investments. During the review period,
distribution arrangements were made for new market areas in Europe.
Net sales Net sales Segment profit
1-3/2009 1-3/2008 1-3/2009 1-3/2008
MEUR share MEUR share MEUR % MEUR %
Services total 4.4 48% 5.5 45% -0.52 -12 0.47 14
-Done Information 1.1 12% 1.3 11% -0.05 -4 0.07 14
-Midas Touch 3.3 36% 4.2 34% -0.48 -15 0.40 14
Systems 1.6 18% 4.0 33% -0.04 -2 0.61 11
Health Care 1.4 16% 1.0 9% 0.50 35 0.41 34
Safety 1.0 11% 0.8 6% 0.12 12 0.04 14
Technology 0.6 7% 0.9 7% 0.03 5 0.08 4
Total 9.1 100% 12.2 100% 0.09 1 1.61 13
Parent company costs -0.29 -3 -0.21 -2
Operating profit -0.20 -2 1.39 11
Net sales and profit by segment and quarter are as follows:
MEUR Q1/09 Q4/08 Q3/08 Q2/08 Q1/08
Net sales:
Services total 4.4 4.8 5.3 5.4 5.5
Done Information 1.1 1.2 1.2 1.6 1.3
Midas Touch 3.3 3.6 4.1 3.8 4.2
Systems 1.6 1.8 2.6 4.3 4.0
Health Care 1.4 1.3 1.0 1.0 1.0
Safety 1.0 0.9 0.8 0.5 0.8
Technology 0.6 1.2 1.0 1.0 0.9
Total 9.1 10.0 10.6 12.3 12.2
Segment profit: Q1/09 Q4/08 Q3/08 Q2/08 Q1/08
Services total -0.52 -0.51 0.15 0.18 0.47
-Done Information -0.04 -0.03 0.03 0.17 0.07
-Midas Touch -0.48 -0.48 0.12 0.01 0.40
Systems -0.04 -0.07 0.45 0.63 0.61
Health Care 0.50 0.32 0.35 0.29 0.41
Safety 0.12 0.23 0.11 0.03 0.04
Technology 0.03 0.30 0.20 0.32 0.08
Total 0.09 0.27 1.26 1.45 1.61
Parent company costs -0.29 -0.22 -0.20 -0.29 0.21
Operating profit -0.20 0.05 1.06 1.16 1.39
Operating profit, % -2.3% 0.5% 10.0% 9.4% 11.4%
HUMAN RESOURCES
The number of personnel employed by the Group in Q1 averaged 649 (707). The
number of employees at the end of Q1 was 630 (743).
As a result of the concluded employer-employee negotiations, Midas Touch
decided to lay-off a maximum of 102 employees and terminate the employment of
two employees. These measures, to be taken during 2009, aim at cost savings of
EUR 1.0 million in 2009.
At the end of Q1, the company's personnel were distributed as follows:
31.3.2009 31.3.2008
Services 520 623
Systems 63 69
Health Care 8 9
Safety 21 29
Technology 14 10
Parent company 4 3
Total 630 743
CHANGES IN MANAGEMENT IN SUBSIDIARIES
On January 1, 2009, Elina Karjalainen, Managing Director of Done Information,
announced that she would resign from her post and enter the service of another
employer. As a result, Tarja Salonen, M.Sc. (Eng.), was named as Acting
Managing Director. Ms. Salonen was previously a Sales Manager at the company.
Similarly, Timo Peränkylä, Managing Director of Boomerang Boats, announced on
March 11, 2009 that he would resign from his position. As a result, Naval
Architect Jussi Mannergerg, who had previously served as the company's
Technical Director, took the helm of the company as Acting Managing Director.
SHARES, SHARE CAPITAL AND MANAGEMENT OWNERSHIP
On March 31, 2009, Revenio Group Corporation's share capital came to EUR
5,314,918.72 and the number of shares outstanding totaled 76,839,732.
On this date, the Board of Directors and the President and CEO held 20.6
percent of the company's shares, totaling 15,850,445 shares, and also 18.6
percent of option rights. Moreover, on the same date, Gateway Finland Oy held
14.97 percent of company shares, totaling 11,500,000 shares. Matti Nevalainen,
who was a Board member until April 15, 2009, owns 50 percent of Gateway Finland
Oy.
In its meeting of January 23, 2009, the Board of Revenio Group Corporation
decided on a private placement to former Finnish Led-Signs Oy shareholders Mia
Järvinen and Olli-Pekka Salovaara. The placement was based on a share-issue
authorization provided by the Annual General Meeting of Revenio Group
Corporation on April 2, 2008. With this share issue, Revenio Group Corporation
fulfilled and ended its obligation, under a share swap agreement signed in
September 2007, to provide new Revenio Group Corporation shares to the sellers
as an additional share-based payment for the transaction.
A total of 1,724,138 Revenio Group Corporation shares were offered for
subscription in the private placement, which corresponds to 2.27 percent of the
company's shares and voting rights prior to the placement, and 2.21 percent
afterwards. After the placement, the company had a total of 77,839,732 shares
outstanding. As provided for in the placement decision, Mia Järvinen subscribed
for 1,378,889 shares and Olli-Pekka Salovaara for 345,249 shares.
Before the placement, Mia Järvinen owned 2.29 percent and Olli-Pekka Salovaaara
0.64 percent of Revenio Group Corporation shares. As Mr Salovaara is President
and CEO of Revenio Group Corporation, the rights issue constituted an insider
event for the Corporation.
The subscription price in the private placement was EUR 0.29 per share, or the
average closing price of thirty trading days preceding the placement decision,
rounded to the nearest full cent.
Waiving the shareholders' pre-emption rights, the shares were offered for
subscription based on a share swap agreement made with Finnish Led-Signs Oy in
2007. The subscription price is recorded in full in the invested unrestricted
capital reserve.
In the period January 1 - March 31, 2009, Revenio Group Corporation's turnover
on NASDAQ OMX HELSINKI totaled EUR 1.1 million, representing 3.7 million shares
or 4.9 percent of shares outstanding. The trading high was EUR 0.36 and the low
EUR 0.26. The closing price at the end of the review period was EUR 0.29, and
the average share price was EUR 0.31. The Group's market value on March 31,
2009 was EUR 22.3 million.
OPTION RIGHTS
Based on the share-issue authorization approved by the Annual General Meeting
of April 3, 2007, the Board of Revenio Group Corporation decided, on November
23, 2007, on a new corporate option scheme, comprising a maximum of 3,684,365
option rights. Each option right entitles the holder to one Revenio Group
Corporation share. The proportion of shares, to be subscribed for based on the
option rights to be issued, totaled a maximum of 5.4 percent of the company's
share capital and voting rights once the new shares to be subscribed for via
the option rights have been registered. Shares subscribed for via the option
scheme entitle the holder to a dividend from the subscription year onwards.
During the review period, personnel were issued 75,000 series A option rights,
and 150,000 series A options were returned to the company.
PURCHASE AND CANCELLATION OF OWN SHARES
During the reporting period, The company acquired 130.002 company shares based
on the decicions made by the Board of Directors on November 6, 2008 and March
26, 2009.
On March 5, 2009, The Board of Revenio Group Corporation decided on the
cancellation of 1,000,000 own shares, or 1.28 percent of the company's votes
and shares.
As a result of the cancellation, the number of company shares fell from
77,839,732 shares to 76,839,732 shares. The cancellation did not have an impact
on share capital, or a significant impact on the distribution of ownership or
voting rights within the company.
On November 21, 2008, Revenio Group Corporation began to purchase own shares
based on the authorization provided by the AGM of April 2, 2008. These shares,
which were acquired for the purpose of cancellation, were purchased on NASDAQ
OMX HELSINKI between November 21, 2008 and January 2, 2009. The purchases were
funded from the company's unrestricted equity to a total of EUR 284,000.
In its meeting of March 26, 2009, the Board of Revenio Group Corporation
decided on the purchase of two (2) own shares. The purchase was made in order
to accomplish a merging of shares involving the division of company shares by
five, in accordance with Chapter 15:9 of the Limited Companies Act. The shares
were acquired on NASDAQ OMX Helsinki on April 3, 2009 and were cancelled on
April 6, 2009. The cancellation was recorded in the Trade Register on April 9,
2009, after which the number of company shares has been 76,839,730.
CHANGES IN OWNERSHIP
On February 16, 2009, Revenio Group Corporation received a notification, in
accordance with Chapter 2:9 of the Securities Markets Act, indicating that
Gateway Finland Oy's ownership of the company's shares and votes had fallen
below three-twentieth (3/20) subsequent to the increase in the total number of
shares recorded in the Trade Register on that day. Gateway Finland Oy's
ownership of company shares and votes on February 16, 2009 was 14.77 percent.
MAJOR BUSINESS RISKS AND UNCERTAINTIES
The Group gave notification of its major business risks and uncertainties in
its financial statements bulletin of March 3, 2009. No changes in said risks
have occurred since the bulletin's release.
EVENTS AFTER THE BALANCE SHEET DATE
The AGM of Revenio Group Corporation held on April 15 elected Jyri Merivirta,
LL.M., and Pekka Tammela, M.Sc. (Econ. & Bus. Admin.), APA, to a new term on
the Board of Directors, and Timo Mänty, M.Sc. (Econ. & Bus. Admin.), President
of Rautakirja Corporation, as a new member. At its assembly meeting held after
the AGM, the Board elected Jyri Merivirta as its Chairman.
The AGM's decisions can be found in the company's stock exchange release of
April 15, 2009
NEW COMPANY NAME
In line with the AGM decision, the company name has been Revenio Group
Corporation since April 20, 2009. The name was changed in order to better
reflect the company's current structure as a successful conglomerate.
OUTLOOK FOR 2009
Despite the loss in Q1, the operating profit for the full-year period is
expected to be slightly positive.
GROUP KEY FIGURES AND RATIOS (MEUR) 1-3/2009 1-3/2008 1-12/2008
Net sales 9.1 12.2 45.1
Operating profit -0.2 1.4 3.8
Operating profit, % -2.3 11.4 8.4
Pre-tax profit -0.2 1.4 3.6
Pre-tax profit, % -2.6 11.2 8.3
Net profit -0.2 1.0 2.7
Net profit, % -1.9 8.3 5.9
Gross capital expenditure 0.1 0.1 0.5
Gross capital expenditure, % 0.7 1.1 1.1
R&D costs 0.1 0.1 0.5
R&D costs, % 1.1 0.8 1.2
Gearing, % 7.8 -1.2 7.8
Equity ratio, % 60.0 56.0 60.9
Return on investment (ROI), % -3.3 23.4 18.3
Return on equity (ROE), % -3.9 21.7 14.9
Undiluted earnings per share, EUR -0.002 0.013 0.035
Diluted earnings per share, EUR -0.002 0.013 0.035
Equity per share, EUR 0.23 0.25 0.23
Average no. of employees 649 707 747
Cash flow from operating activities -0.4 0.9 3.3
Cash flow from investing activities -0.1 0.1 -0.3
Net cash used in financing activities 1.7 -0.5 -4.3
Total cash flow 1.2 0.5 -1.3
CONSOLIDATED INCOME STATEMENT (MEUR) 1-3/2009 1-3/2008 1-12/2008
NET SALES 9.1 12.2 45.1
Other operating income 0.0 0.0 0.3
Materials and services -2.3 -4.0 -13.4
Employee benefits -5.0 -5.2 -21.0
Depreciation/amortization -0.3 -0.3 -1.4
Other operating expenses -1.7 -1.3 -5.9
OPERATING PROFIT -0.2 1.4 3.8
Share of associates' results 0.0 0.0 0.0
Financial expenses (net) -0.0 -0.0 -0.1
PRE-TAX PROFIT -0.2 1.4 3.6
Income tax expense 0.0 -0.3 -1.0
NET PROFIT -0.2 1.0 2.7
Other comprehensive income items 0.0 0.0 0.0
Income tax expense for comprehensive income
items
0.0 0.0 0.0
Other comprehensive income items
after taxes 0.0 0.0 0.0
TOTAL COMPREHENSIVE INCOME -0.2 1.0 2.7
Net profit attributable to:
Parent company shareholders -0.2 1.0 2.7
Minority interest 0.0 0.0 0.0
Total comprehensive income attributable to:
Parent company shareholders -0.2 1.0 2.7
Minority interest 0.0 0.0 0.0
Earnings per share, undiluted EUR -0.002 0.013 0.035
Earnings per share, diluted EUR -0.002 0.013 0.035
CONSOLIDATED BALANCE SHEET (MEUR) 31.3.2009 31.3.2008 31.12.2008
ASSETS
NON-CURRENT ASSETS
Property, plant and equipment 2.1 2.3 2.1
Goodwill 9.4 11.4 9.4
Intangible assets 3.2 3.8 3.2
Shares in associates 0.4 0.5 0.4
Available-for-sale-assets 0.0 0.0 0.0
Receivables 0.5 0.3 0.3
Deferred tax assets 3.2 3.9 3.2
TOTAL NON-CURRENT ASSETS 18.6 22.1 18.6
CURRENT ASSETS
Inventories 1.3 1.2 2.0
Trade and other receivables 6.8 7.8 6.3
Cash and cash equivalents 3.3 3.9 2.0
TOTAL CURRENT ASSETS 11.3 12.8 10.4
TOTAL ASSETS 29.9 34.9 29.0
LIABILITIES AND SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY
Share capital 5.3 5.3 5.3
Share premium 2.4 2.4 2.4
Fair value reserve 0.3 0.3 0.3
Invested unrestricted capital reserve 7.0 6.5 6.5
Retained earnings/loss 3.0 4.6 3.3
Treasury shares 0.0 0.0 -0.3
TOTAL EQUITY, attributable to holders
of parent company equity 17.9 19.2 17.6
MINORITY INTEREST 0.0 0.0 0.0
TOTAL SHAREHOLDERS' EQUITY 17.9 19.2 17.6
LIABILITIES
NON-CURRENT LIABILITIES
Deferred tax liabilities 0.9 1.1 1.0
Provisions 0.1 0.0 0.1
Financial liabilities 3.4 2.9 2.2
Other liabilities 0.5 2.4 0.4
TOTAL LONG-TERM LIABILITIES 5.0 6.3 3.7
CURRENT LIABILITIES
Advance payments 0.0 0.6 0.0
Trade and other payables 5.7 7.8 6.4
Provisions 0.0 0.2 0.0
Financial liabilities 1.3 0.9 1.2
TOTAL SHORT-TERM LIABILITIES 7.0 9.4 7.6
TOTAL LIABILITIES 11.3 15.7 11.3
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY 29.9 34.9 29.0
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS'EQUITY (MEUR)
Share Share- Other Retained Minority Total
capital premium reserves earnings interest equity
Balance Jan 1, 2008 5.3 2.4 3.8 6.5 0.0 18.1
Private placements 0.0 0.0 0.1 0.0 0.0 0.1
Dividend distribution 0.0 0.0 0.0 -3.0 0.0 -3.0
Acquisition of own shares 0.0 0.0 -0.3 0.0 0.0 -0.3
Options expense adjustment 0.0 0.0 0.0 0.0 0.0 0.0
Net profit 0.0 0.0 0.0 2.7 0.0 2.5
Balance Dec 31, 2008 5.3 2.4 3.6 6.2 0.0 17.6
Private placements 0.0 0.0 0.5 0.0 0.0 0.5
Cancellation of own shares 0.0 0.0 0.3 -0.3 0.0 0.0
Options expense adjustment 0.0 0.0 0.0 0.0 0.0 0.0
Net profit 0.0 0.0 0.0 -0.2 0.0 0.0
Balance Mar 31, 2009 5.3 2.4 4.5 5.7 0.0 17.9
CONSOLIDATED CASH FLOW STATEMENT(MEUR)1-3/2009 1-3/2008 1-12/2008
Net profit -0.2 1.0 2.7
Adjustments to net profit 0.3 0.7 1.4
Change in working capital -0.4 -0.8 -1.5
Interest paid -0.0 -0.1 -0.5
Interest received 0.0 0.1 0.4
Paid taxes 0.0 0.0 -0.0
CASH FLOW FROM OPERATING ACTIVITES -0.4 0.9 3.3
Acquisition of subsidiaries 0.0 0.0 0.0
Purchase of PPE -0.1 0.0 -0.3
Purchase of intangible assets 0.0 -0.0 -0.0
NET CASH USED IN INVESTING ACTIVITIES -0.1 -0.0 -0.3
Purchase of own shares -0.0 0.0 -0.3
Paid dividends 0.0 0.0 -3.0
Long-term borrowings 2.0 0.0 0.0
Repayments of long-term borrowings -0.3 -0.4 -0.9
Finance lease principal payment -0.0 -0.0 -0.1
NET CASH USED IN FINANCING ACTIVITIES 1.7 -0.5 -4.3
Net change in cash and equivalents 1.3 0.5 -1.4
Cash and equivalents, period-start 2.0 3.4 3.4
Cash and equivalents, period-end 3.3 3.9 -2.0
NET SALES AND OPERATING PROFIT BY QUARTER (MEUR)
MEUR Q1/09 Q4/08 Q3/08 Q2/08 Q1/08
Net sales 9.1 10.0 10.6 12.3 12.2
Oper. profit -0.2 0.1 1.1 1.2 1.4
Oper. profit, % -2.3 1.0 10.0 9.4 11.4
The financial statements presented in this release have been compiled in
accordance with IFRS entry and valuation principles.
These statements do not comply with all IAS 34 Interim Reports standards. The
figures are unaudited.
REVENIO GROUP CORPORATION
Board of Directors
For further information, please contact:
Olli-Pekka Salovaara, President and CEO, GSM +358 (0)40 5675520
Pekka Raatikainen, CFO, GSM +358 (0)50 5534094
E-mail addresses follow the format firstname.lastname@revenio.fi
DISTRIBUTION:
NASDAQ OMX Helsinki
Financial Supervisory Authority (FIN-FSA)
Key media
www.revenio.fi
Revenio Group Corporation (Done Solutions Corporation until April 20, 2009) is
the parent company of the Finnish conglomerate Revenio Group. Revenio's
subsidiaries share a focus on Finnish specialist expertise and export-based
operations.
Revenio Group consists of six independent subsidiaries in five business
segments. The subsidiaries are Done Information Oy, Done Logistics Oy, Icare
Finland Oy, Boomeranger Boats Oy, Finnish Led-Signs Oy and Midas Touch Oy.
