Tikkurila's historical pro forma financials according to the new segment reporting structure
Tikkurila Oyj
Stock Exchange Release
March 28, 2014 at 09:15 a.m. (CET+1)
At the end of 2013, Tikkurila published a new reporting structure, which became
effective as of January 1, 2014. The new reporting segments, based on geography,
are the following:
SBU West consists of Sweden, Denmark, Norway, Finland, Poland, Germany, Estonia,
Latvia, and Lithuania.
SBU East consists of Russia, Central Asian countries, Ukraine, Belarus, Serbia,
Macedonia, and China. Furthermore, this SBU is responsible for the exports to
approximately 20 countries.
Unaudited pro forma financials on a quarterly basis for 2013 are presented in
the tables below.
The first interim report based on the new reporting structure will be published
on May 8, 2014 (interim report for January-March 2014).
Preliminary pro forma information by new reporting segments:
Revenue by segment 1-3/2013 1-6/2013 1-9/2013 1-12/2013
EUR 1,000
SBU West 96,806 214,859 320,344 388,578
SBU East 41,618 131,854 215,960 264,387
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Total 138,424 346,712 536,304 652,964
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EBIT by segment 1-3/2013 1-6/2013 1-9/2013 1-12/2013
EUR 1,000
SBU West 12,516 33,309 55,353 50,370
SBU East -1,480 11,925 23,624 24,099
Tikkurila common -805 -1,663 -2,327 -3,001
Eliminations 0 0 0 0
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Total 10,232 43,571 76,650 71,468
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Non-allocated items:
Total financial income
and expenses 445 -2,078 -3,671 -4,289
Share of profit or loss of
equity-accounted investees -168 70 139 -137
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Profit before taxes 10,509 41,563 73,118 67,042
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Assets by segment Mar 31, 2013 Jun 30, 2013 Sep 30, 2013 Dec 31, 2013
EUR 1,000
SBU West 314,947 323,150 309,068 287,334
SBU East 158,343 179,993 166,426 140,027
Assets, non-allocated to
segments 83,641 89,061 45,873 44,407
Eliminations -79,982 -75,832 -59,605 -56,449
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Total assets 476,949 516,372 461,762 415,319
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Non-recurring items by segment
Total
EUR 1,000 SBU West SBU East 1-3/2013
Personnel related -413 - -413
Divestments and restructuring of Group
organization - 20 20
Gain on sale of available-for-sale financial
assets 478 - 478
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Total 65 20 85
Total
EUR 1,000 SBU West SBU East 1-6/2013
Personnel related -442 - -442
Divestments and restructuring of Group
organization - 20 20
Gain on sale of available-for-sale financial
assets 478 - 478
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Total 36 20 56
Total
EUR 1,000 SBU West SBU East 1-9/2013
Personnel related -687 - -687
Divestments and restructuring of Group
organization - 20 20
Gain on sale of available-for-sale financial
assets 478 - 478
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Total -209 20 -189
Total
EUR 1,000 SBU West SBU East 1-12/2013
Personnel related -772 -188 -960
Divestments and restructuring of Group
organization - 20 20
Impairment losses -257 -1,425 -1,682
Gain on sale of available-for-sale financial
assets 478 - 478
Change in fair value of contingent consideration - 1,011 1,011
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Total -551 -582 -1,133
SEGMENT INFORMATION BY QUARTER
Revenue by segment 1-3/2013 4-6/2013 7-9/2013 10-12/2013
EUR 1,000
SBU West 96,806 118,053 105,485 68,234
SBU East 41,618 90,236 84,106 48,427
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Total 138,424 208,289 189,591 116,660
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EBIT by segment 1-3/2013 4-6/2013 7-9/2013 10-12/2013
EUR 1,000
SBU West 12,516 20,793 22,044 -4,983
SBU East -1,480 13,405 11,699 475
Tikkurila common -805 -858 -664 -674
Eliminations 0 0 0 0
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Total 10,232 33,339 33,080 -5,182
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Non-allocated items:
Total financial income and expenses 445 -2,524 -1,595 -618
Share of profit or loss of equity-
accounted investees -168 239 69 -276
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Profit / loss before taxes 10,509 31,054 31,554 -6,076
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SBU West cumulative 1-3/2013 1-6/2013 1-9/2013 1-12/2013
(EUR million)
Revenue 96.8 214.9 320.3 388.6
Operating profit (EBIT) excluding non-
recurring items 12.5 33.3 55.6 50.9
Operating profit (EBIT) margin excluding
non-recurring items, % 12.9% 15.5% 17.3% 13.1%
Operating profit (EBIT) 12.5 33.3 55.4 50.4
Operating profit (EBIT) margin, % 12.9% 15.5% 17.3% 13.0%
Capital expenditure excluding
acquisitions 1.1 2.6 3.6 6.4
SBU East cumulative 1-3/2013 1-6/2013 1-9/2013 1-12/2013
(EUR million)
Revenue 41.6 131.9 216.0 264.4
Operating profit (EBIT) excluding non-
recurring items -1.5 11.9 23.6 24.7
Operating profit (EBIT) margin excluding
non-recurring items, % -3.6% 9.0% 10.9% 9.3%
Operating profit (EBIT) -1.5 11.9 23.6 24.1
Operating profit (EBIT) margin, % -3.6% 9.0% 10.9% 9.1%
Capital expenditure excluding
acquisitions 1.5 3.4 5.9 6.8
SBU West by quarter 1-3/2013 4-6/2013 7-9/2013 10-12/2013
(EUR million)
Revenue 96.8 118.1 105.5 68.2
Operating profit (EBIT) excluding non-
recurring items 12.5 20.8 22.3 -4.6
Operating profit (EBIT) margin excluding
non-recurring items, % 12.9% 17.6% 21.1% -6.8%
Operating profit (EBIT) 12.5 20.8 22.0 -5.0
Operating profit (EBIT) margin, % 12.9% 17.6% 20.9% -7.3%
Capital expenditure excluding
acquisitions 1.1 1.5 0.9 2.8
SBU East by quarter 1-3/2013 4-6/2013 7-9/2013 10-12/2013
(EUR million)
Revenue 41.6 90.2 84.1 48.4
Operating profit (EBIT) excluding non-
recurring items -1.5 13.4 11.7 1.1
Operating profit (EBIT) margin excluding
non-recurring items, % -3.6% 14.9% 13.9% 2.2%
Operating profit (EBIT) -1.5 13.4 11.7 0.5
Operating profit (EBIT) margin, % -3.6% 14.9% 13.9% 1.0%
Capital expenditure excluding
acquisitions 1.5 1.9 2.5 0.9
TIKKURILA GROUP'S NUMBER OF EMPLOYEES AT THE END OF EACH QUARTER SPLIT
BY SBU
Q1/ 2013 Q2/2013 Q3/2013 Q4/2013
SBU West 1,535 1,670 1,552 1,537
SBU East 1,665 1,700 1,670 1,565
Corporate center 31 30 31 31
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Total 3,231 3,400 3,253 3,133
Tikkurila Oyj
CFO Jukka Havia
For further information, please contact:
Tikkurila Oyj
Jukka Havia, CFO, mobile +358 50 355 3757, jukka.havia@tikkurila.com
For 150 years already, Tikkurila has provided consumers and professionals with
user-friendly and sustainable solutions for surface protection and decoration.
Tikkurila wants to be the leading paint company in the Nordic area as well as in
Russia and other selected Eastern European countries. - Tikkurila inspires you
to color your life.
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