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 Total138,424346,712536,304652,964          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 Total10,23243,57176,65071,468      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 Profit before taxes10,50941,56373,11867,042          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 Total assets 476,949 516,372 461,762 415,319

 

Non-recurring items by segment   EUR 1,000 SBU West SBU East Total
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 - 478Total652085    EUR 1,000 SBU West SBU East Total
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 - 478Total362056    EUR 1,000 SBU West SBU East Total
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 - 478Total-20920-189    EUR 1,000 SBU West SBU East Total
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 1,011Total-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 Total 138,424 208,289 189,591 116,660           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 Total 10,232 33,339 33,080 -5,182       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 Profit / loss before taxes 10,509 31,054 31,554 -6,076

 

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 Total3,2313,4003,2533,133

 

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.

www.tikkurilagroup.com

Tikkurila pro forma financials


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Source: Tikkurila Oyj via Globenewswire
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