Plc Uutechnic Group Oyj: HALF YEAR REPORT 1 JANUARY–30 JUNE 2019

PLC UUTECHNIC GROUP OYJ INSIDE INFORMATION July 31, 2019 at 9:30 am

PLC UUTECHNIC GROUP OYJ REVIEW HALF YEAR REPORT 1 JANUARY–30 JUNE 2019

Uutechnic Group will after divestments completely focus on mixing technology

Uutechnic Group’s turnover from continuing operations for 1 January–30 June 2019 was EUR 7.8 million (7.4 million), and its operating profit was EUR 0.04 million (0.70 million). The order book of Uutechnic Group’s continuing operations stood at EUR 8.5 million (7.6 million) on 30 June 2019. The earnings per share from continuing operations was EUR 0.0 (0.01).

On June 3, 2019 Plc Uutechnic Group Oyj announced that it has sold the share capital of AP-Tela Oy in Kokkola with the price of EUR 3.5 million to a Finnish engineering workshop. The effect of the transaction on the Group’s equity and profit is approximately EUR -0.3 million. This transaction is part of the Uutechnic Group´s strategy of focusing on Mixing Technology. AP-Tela Oy has been consolidated into the Group until June 3, 2019 and will be reported in the discontinued operations.  

Key figures, T EUR 4-6/2019 4-6/2018 1-6/2019 1-6/2018 1-12/2018
           
Turnover, continuing operations 4 035 3 608 7 806 7 368 16 540
Operating profit/loss, continuing operations 230 334 41 700 2 045
Operating profit/loss %, continuing operations 5,7 % 9,3 % 0,5 % 9,5 % 12,4 %
Profit/loss for the fiscal year, continuing operations     -120 526 1 971
Profit/loss for the fiscal year, discontinuing operations     -324 -1 959 -1 218
Profit/loss for the fiscal year     -444 -1 433 573
           
Order backlog at the end of the period, continuing operations     8 529 7 640 6 671
Orders received, continuing operations     9 615 9 774 17 846

In the income statement AP-Tela Oy is reported as discontinuing operations. The reference periods have been adjusted accordingly. Discontinued operations in reference periods include also Japrotek Oy Ab, sold on August 28, 2018.  

OUTLOOK

The Group strives to be a globally known and preferred cooperation partner, with a good financial standing, in selected product and market segments. The Group pursues growth organically while considering opportunities for growth through acquisitions. Moreover, the aim is to grow the business by developing and harmonizing the sales and delivery process and expanding into new markets.

Plc Uutechnic Group Plc repeats the previously announced outlook, where it estimates the result for the fiscal year 2019 to be lower than last year.

BUSINESS REPORTING

Uutechnic Group has streamlined its structure with divestments during past one and half years and is now completely focused on mixing technology. Changes in the company structure have significantly improved group’s balance sheet and reduced risks and investments, which are not related to mixing technology. Same time group has invested in mixing business, business processes, business systems and skills. Solid ground for future growth of mixing technology business is almost complete.

First half of the year was challenging for the Group’s continuing operations. Order book and workload were unevenly balanced to factories. Also, the fixed costs were relatively higher for the smaller group organization. Even though the costs of system development were on track, they increased the fixed costs. Therefore, the beginning of the year result was low, decreasing the half year result.

During the spring workload was balanced and orderbook increased. April order intake was record high on continuing operations. During April and June sales and result developed better than in the beginning of the year. At the end of the June the orderbook of the continuing operations was better than in comparison period. Divestment of AP-Tela increases the need for growth, but also opportunities.

International economics is affected by several, quickly changing, political agendas. This forms threats and opportunities for Uutechnic group customer’s investments. Competition from orders will most likely increase. Uutechnic group operates already in several markets and customer segments, even though with only small market share. It is possible to increase these market shares.

NEW ORDERS AND ORDER BOOK 

The new orders of Uutechnic Group’s continuing operations amounted to EUR 9.6 million (9.8 million) during the period under review.

The order book of the Group’s continuing operations stood at EUR 8.5 million (7.6 million). The order book extends to 2020.

TURNOVER

The turnover of Uutechnic Group’s continuing operations for the period under review amounted to 7.8 million (7.4 million). Finland accounted for 15% of turnover. Rest of the Europe accounted for 72%, Asia for 12% and other 1%.

RESULT AND PROFITABILITY

The operating profit of the Group’s continuing operations was EUR 0.04 million (0.70 million) and the result for the fiscal year was EUR -0.4 million (-1.4 million). AP-Tela Oy, sold in the beginning of June, is presented on one line in the income statement, separately from continuing operations. The reference periods have been adjusted accordingly. Discontinued operations in reference periods include also Japrotek Oy Ab, sold on August 28, 2018. 

FINANCIAL STANDING AND LIQUIDITY

At the end of the review period, Uutechnic Group’s balance sheet total stood at EUR 18.6 million (21.3 million). The interest-bearing liabilities of the Group’s continuing operations totaled EUR 3.7 million (4.8 million). The Group’s cash flow from operations for the period under review year was EUR 1.4 million (-1,1 million).

At the end of the review period, the Group’s equity ratio was 61,2% (45.4%) and net gearing was 13.5% (52.8%). the subordinated debt receivable is not included in net gearing. Groups cash and equivalents stood at 2.3 million at the end of the period.

Non-current assets on the balance sheet of Uutechnic Group’s continuing operations totaled EUR 9.4 million (7.4million).

EQUITY

The Group’s equity stood at EUR 10.1 million (8.6 million) at the end of the period under review.

On May 20, 2019 Plc Uutechnic Group Oyj announced that it has paid the subordinated loan, maturing on December 31, 2019 and totaling EUR 1.0 million. The loan was related to the financing arrangement in 2015. After the payment the company has no subordinated loan liabilities.

RESEARCH, PRODUCT DEVELOPMENT AND INVESTMENTS

The Group’s investments in fixed assets totaled EUR 0.5 million (0.2 million). The investments were primarily minor purchases of equipment and purchases related to digital transformation project.  

Uutechnic Group is currently undergoing a large digital transformation program that started last year. Implementation is progressing and at the beginning of this year the CRM system has been rolled out and other new systems, configure price quote (CPQ), enterprise resource planning (ERP), human capital management (HCM), product data management (PDM), computer aided design (CAD), and document management system (DMS), will be phased in over the coming months.

PERSONNEL

At the end of the review period, Uutechnic Group’s continuing operations had 89 (94) employees, of who 50 (53) were white collar and 39 (41) were blue collar. Of the employees, 28 worked in Finland and 61 in Germany.

SHARES AND SHAREHOLDERS

The total number of shares and votes in Plc Uutechnic Group Oyj is 56,501,730. On 30 June 2019, the Group had 1,553 registered shareholders. There were in total 460,371 nominee-registered shares.

The total number of shares owned directly or through controlled companies by the Board of Directors, CEO and Group Management Team was 11,059,476 shares, or 19,57% of all shares.

Board members, CEO, Deputy CEO or other members of the Group Management Team have no holdings or special rights based on the company’s share-based incentive systems.

Shares in Plc Uutechnic Group Oyj are listed on Nasdaq Helsinki. Their trading code is UUTEC, and their ISIN code is FI0009900708.

Plc Uutechnic Group Oyj did not pay dividends during the review period.

AUTHORISATION TO ISSUE SHARES

In accordance with the proposal of the Board of Directors, the Annual General Meeting of 10 April 2019 authorised the Board of Directors to resolve on the issue of at most 10,000,000 new shares or special rights entitling to shares. The authorisation entitled the Board to decide on all terms and conditions for the issuance of shares and special rights, including any deviations from the shareholders’ pre-emptive right.

BOARD OF DIRECTORS AND CEO

On 10 April 2019, the Annual General Meeting re-elected Sami Alatalo, Hannu Kottonen and Jouko Peräaho as Board members. Hannu Kottonen is independent of the company and its major shareholders. Sami Alatalo was re-elected as the Chairman of the Board.

Jouko Peräaho has served as the CEO since 9 March 2017.

The Company adheres to the Finnish Corporate Governance Code 2015 for companies listed on Nasdaq Helsinki.

REMARKABLE RISKS AND UNCERTAINTY FACTORS AND THEIR MANAGEMENT

The demand for Uutechnic Group’s products is dependent on trends and developments in the global economy and the Group’s customer industries, which poses a general external risk to its operations. The Group seeks to mitigate the risks arising from changes in demand by targeting its sales operations in line with current trends in various market areas and customer industries.

According to the Board of Directors of the Group’s parent company, other significant risks and uncertainty factors to which the Group is exposed are related to at least the following aspects:

  • The Group will continue to implement consolidation processes and pursue identified synergies to improve profitability. It is possible that not all of the identified synergies will be achieved, or that processes will fail.    
  • The Group aims to grow organically as well as through acquisitions. There is no certainty that the Group will be able to find suitable candidates for acquisition, obtain the financing required for acquisitions or acquire businesses on satisfactory terms.    
  • The acquisition prices paid in the context of business combinations and the goodwill generated by them also involve risks. The Group’s calculations to test goodwill are based on financial forecasts and assumptions prepared by the management.
  • Part of the Group’s business operations consist of major or large project deliveries. Extensive and complicated projects involve the risk that the future costs and any other risks related to the delivery cannot be estimated sufficiently accurately in the bidding phase. In such cases, the result of the project may prove weaker than expected. In contracts for extensive projects, the claims for compensation for delayed delivery or deficient performance may be significant.
  • Unfavourable changes in the financial markets may have an effect on the Group’s results and the availability of equity and debt financing on competitive terms. Uncertainty in the international economy may lead to payment delays and an increased risk of credit losses.
  • In conjunction with the divestment of the majority of shares in Japrotek Oy Ab, Uutechnic Group’s intra-group receivables and guarantor liabilities became external receivables and liabilities. It is possible that the receivables or guarantor liabilities will result in credit losses or payment obligations over time.

The Group seeks to protect itself against remarkable risks using all measures that can reasonably be implemented. These include, among other things, measures aimed at improving profitability and productivity, training for employees, guidelines and instructions, insurance policies, critical examination of the terms and conditions of commercial agreements and the systematic monitoring and development of operations.

STOCK EXCHANGE RELEASES PUBLISHED DURING THE REVIEW PERIOD

Press releases

12.2.2019       Significant order for Uutechnic Group’s Mixing Technology Business

9.5.2019         Uutechnic Group’s Mixing technology business received record high monthly order intake.

Stock exchange releases

13.2.2019       Notification according to chapter 9, section 6 and 7 of the securities markets act

28.2.2019       Review of the financial statements for January – December 2018

4.3.2019         Notification according to chapter 9, section 5,6 and 7 of the securities markets act

6.3.2019         Plc Uutechnic Group Oyj’s liquidity providing agreement

15.3.2019       Financial statements, corporate governance statement and remuneration statement for 2019 published

15.3.2109       Invitation to the annual general meeting

10.4.2019       The resolutions of the annual general meeting and the decisions of the board of directors

29.4.2019       Uutechnic Group lowers its outlook for the year 2019

30.4.2019       Uutechnic Group Business review from January – March 2019

20.5.2019       Uutechnic Group has paid subordinated loan

3.6.2019         Uutechnic Group has sold AP-Tela Oy and focuses on Mixing technology

ACCOUNTING PRINCIPLES

This half year financial report was prepared in accordance with the IAS 34 standard. It does not include all of the notes or other information to be presented with financial statements. For this reason, the interim report should be read together with the financial statements for 2018. The half year financial report was prepared in line with the accounting principles presented in the financial statements for 2018. In addition, IFRS 16 standard Leases is adopted from January 1, 2019.

The information included in this half year financial report has not been audited. The figures are presented in thousands of euros (EUR 1,000), unless otherwise mentioned. Reports include the figures from continuing operations excluded the flow of funds statement which includes the figures from the whole group.

AP-Tela Oy has been consolidated into the Group until June 3, 2019 and will be reported in the discontinued operations. The reference periods have been adjusted accordingly. Discontinued operations in reference periods include also Japrotek Oy Ab, sold on August 28, 2018. 

IFRS 16 Leases

Uutechnic Group has adopted the standard as of 1 January 2019 using the simplified retrospective approach, and the comparison figures for the year preceding adoption are not adjusted. Following the adoption of the amended standard, the leases of leased business and production premises will be recognised on the balance sheet. Leases that include a right to use the underlying asset are recognised as assets on the lessee’s balance sheet. An asset representing the right to use the underlying asset and a lease liability representing its obligation to make lease payments are recognised on the balance sheet. The lease expense associated with leases is replaced by depreciation of the right-of-use-assets and interest expense for the lease liability.

Leases are recognised on the balance sheet upon the commencement of the lease as an asset corresponding with the current value of the minimum rents and depreciated over the period of the lease. The amount of interest-bearing liabilities on the consolidated balance sheet increases by the discounted amount of the lease liability. In addition, a change in deferred taxes is recognised under income taxes. In accordance with IFRS 16 Leases,the amount of the asset and liability based on right-of-use is calculated by discounting the future contractual minimum rents.

Leases less than 12 months, and leases of low value, are treated as off-balance sheet leases and recognized as an expense in the income statement in accordance with the lease period.

Uutechnic Oy’s office premises in Uusikaupunki are leased from UuCap Oy, where Jouko Peräaho and Timo Lindström, a related party, exercise control.

The Group’s interest-bearing liabilities increased by EUR 1,443.6 thousand due to the adoption of IFRS 16. Depreciation increased by EUR 75.4 thousand and rental expenses decreased by EUR 108.1 thousand. Interest expenses increased by EUR 17.8 thousand. The adoption of the standard had an impact of EUR -15.5 thousand on the result for the period. Comparative year figures have not been restated.

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME, IFRS       
1 000 EUR 1.1.-30.6.2019 1.1.-30.6.2018 1.1.-31.12.2018
       
CONTINUING OPERATIONS 6 months 6 months 12 months
       
NET TURNOVER 7 806 7 368 16 540
Change in finished goods and work in progress -282 165 634
Other operating income 2 2 59
Material and services -3 087 -2 530 -6 569
Employee benefit expenses -2 918 -3 061 -5 951
Depreciations -222 -99 -213
Other operating expenses -1 258 -1 144 -2 456
OPERATING PROFIT OR LOSS 41 700 2 045
       
Financing income 0 1 46
Financing expenses -83 -59 -119
PROFIT OR LOSS BEFORE TAXES -42 642 1 971
       
Tax on income from operations -78 -116 -180
       
PROFIT OR LOSS FOR THE FISCAL YEAR FROM THE CONTINUING OPERATIONS -120 526 1 791
       
DISCONTINUING OPERATIONS      
Profit of loss for the fiscal year from the discontinuing operations -324 -1 959 -1 218
       
PROFIT OR LOSS FOR THE FISCAL YEAR -444 -1 433 573
       
       
TOTAL COMPREHENSIVE INCOME  -444 -1 433 573
       
       
NET PROFIT OR LOSS ATTRIBUTABLE:      
Equity holders of the parent -120 526 1 791
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE:      
Equity holders of the parent -444 -1 433 573
       
       
Earnings per share calculated on profit attributable to equity holders of the parent:       
EPS undiluted, euros/share, continuing operations 0,00 0,01 0,03
EPS diluted, euros/share, continuing operations 0,00 0,01 0,03
EPS undiluted, euros/share, cdisontinuing operations -0,01 -0,03 -0,02
EPS diluted, euros/share, discontinuing operations -0,01 -0,03 -0,02
EPS undiluted, euros/share -0,01 -0,03 0,01
EPS diluted, euros/share -0,01 -0,03 0,01
       
Average number of shares      
-undiluted 56 501 730 56 504 050 56 148 248
-diluted 56 501 730 56 504 050 56 148 248

CONSOLIDATED BALANCE SHEET,  IFRS      
       
1 000 EUR 30.6.2019 30.6.2018 31.12.2018
       
ASSETS      
       
NON-CURRENT ASSETS      
Intangible assets 780 953 928
Goodwill 2 291 3 070 3 070
Tangible assets 3 276 3 011 3 020
Receivables from subordinated loans 2 870 0 2 870
Available for sale investments 5 0 5
Deferred tax assets 180 363 180
NON-CURRENT ASSETS 9 402 7 397 10 072
       
CURRENT ASSETS      
Inventories 3 123 2 565 3 248
Trade receivables and other receivables 3 155 1 993 2 640
Current receivables from revenue recongnized prior to project completion 415 1 993 868
Tax receivable, income tax 129 64 129
Cash and bank 2 342 237 314
CURRENT ASSETS 9 164 5 097 7 199
       
NON-CURRENT ASSETS HELD FOR SALE 0 8 763 3 086
       
ASSETS 18 566 21 257 20 358
       
SHAREHOLDERS’ EQUITY      
       
SHAREHOLDERS’ EQUITY      
Share capital 2 872 2 872 2 872
Share premium account 0 6 6
Fair value reserve and other reserves 6 376 6 376 6 376
Retained earnings 887 -680 1 326
SHAREHOLDERS’ EQUITY 10 136 8 574 10 580
       
NON-CURRENT LIABILITIES      
Deferred tax liability 367 499 357
Subordinated loans 0 1 000 0
Long-term liabilities, interest-bearing 2 913 874 2 617
Non-current provisions 269 250 269
NON-CURRENT LIABILITIES 3 550 2 622 3 242
       
CURRENT LIABILITIES      
Short-term liabilities, interest-bearing 794 2 891 1 144
Subordinated loans 0 0 1 000
Trade payables and other liabilities 4 086 2 876 3 529
CURRENT LIABILITIES 4 880 5 767 5 673
       
LIABILITIES OF DISPOSAL GROUP HELD FOR SALE 0 4 294 862
       
EQUITY AND LIABILITIES 18 566 21 257 20 358

CONSOLIDATED FLOW OF FUNDS STATEMENT, IFRS      
       
1 000 EUR 1.1.-30.6.2019 1.1.-30.6.2018 1.1.-31.12.2018
FLOW OF FUNDS FROM OPERATIONS:      
Profit/loss for the period -120 526 1 791
Profit or loss before taxes, discontinued operations -324 -1 959 -1 218
Adjustments:      
Depreciations 317 265 497
Depreciation, amortiztion and impairment loss of acqisition 38 46 92
Impairment losses from discontinued operations 0 1 577 1 531
Gains and losses from non current assets 589    
Other income and expenses, no payment related -131 150 589
Financing income and expenses 87 80 124
Taxes 79 113 0
Flow of funds from operations before the change in working capital 537 799 1 896
Change in working capital:      
Change in short-term receivables 438 -541 -1 492
Change in inventories -652 -2 215 -2 349
Change in short-term non-interest-bearing depts 1 252 1 115 1 436
Flow of funds from operations before financial items and taxes 1 574 -843 -509
Interests and other financial expenses from operations paid -86 -102 -92
Dividends received 0 0 0
Interests and other financial income received 0 3 13
Income taxes paid -68 -132 -251
FLOW OF FUNDS FROM OPERATIONS 1 421 -1 073 -839
    0  
FLOW OF FUNDS FROM INVESTMENTS:      
Investments in tangible and intangible assets -461 -242 -510
Income from sale of tangible and intangible assets 3 500 0 20
FLOW OF FUNDS FROM INVESTMENTS 3 039 -242 -490
       
FLOW OF FUNDS FROM FINANCIAL ITEMS:      
Withdrawals of short-term loans 2 508 1 360 495
Repayments of short-term loans -1 534 0 -490
Withdrawals of long-term loans 37 0 1 096
Repayments of long-term loans 0 -246 0
Repayments of subordinated loand -1 000 0 0
FLOW OF FUNDS FROM FINANCIAL ITEMS 11 1 114 1 100
       
Change of liquid funds 1 963 -201 -228
Liquid assets at the beginning of the fiscal year 379 608 608
Liquid assets at the end of the fiscal year 2 342 407 379
Change in liquid assets according to the balance sheet 1 963 -201 -228

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY, IFRS      
           
1 000 EUR          
Change in shareholders’ equity 1.1.-30.6.2019 Share capital Share premium account Unrestricted equity reserve Retained earnings Total
Shareholders’ equity at the beginning of the fiscal period 2 872 6 6 376 1 326 10 580
Adjusted equity 2 872 6 6 376 1 326 10 580
Comprehensive income:          
Profit or loss for the period       -444 -444
Total comprehensive income 0 0 0 -444 -444
Transactions with owners:          
Transactions with owners total 0 0 0 0 0
Changes in ownership interests in subsidiaries   -6   6  
Shareholders’ equity at the end of the fiscal period 2 872 0 6 376 887 10 136
           
Change in shareholders’ equity 1.1.-30.6.2018 Share capital Share premium account Unrestricted equity reserve Retained earnings Total
Shareholders’ equity at the beginning of the fiscal period 2 872 6 6 376 655 9 909
Impact of the introduction of new standards       98 98
Adjusted equity 2 872 6 6 376 753 10 007
Comprehensive income:          
Profit or loss for the period       -1 433 -1 433
Total comprehensive income 0 0 0 -1 433 -1 433
Transactions with owners:         0
Dividend distribution         0
Transactions with owners total 0 0 0 0 0
Shareholders’ equity at the end of the fiscal period 2 872 6 6 376 -680 8 574

DISCONTINUED OPERATIONS      
       
1 000 EUR 1.1.-30.6.2019 1.1.-30.6.2018 1.1.-31.12.2018
       
Profit or loss of the discontinued operations      
       
Turnover 2 937 9 233 13 610
Other income 74 0 0
Expenses -2 862 -9 383 -14 136
Financing income/ expenses -5 -22 -51
Amortizations, Sales gains and losses -333 -1 387 -20
Depreciations -133 -212 -377
Profit or loss before taxes -323 -1 772 -973
Taxes -1 -187 -245
Profit or loss from the discontinued operations -324 -1 959 -1 218
  0 0 0
Flow of funds from the discontinued operations 0 0 0
Flow of funds from operations 190 137 273
Flow of funds from investments 3 306 -71 -111
Flow of funds from financial items -59 0 500
Flow of funds total 3 438 67 662
       
Non-current assets held for sale of discontinued operations 30.6.2019 30.6.2018 31.12.2018
       
Intangible and tangible assets 0 2 142 1 605
Inventories and receivables 0 6 452 1 416
Cash and bank 0 170 65
Assets total 0 8 763 3 086
       
       
Liabilities of disposal group held for sale of discontinued operations 30.6.2019 30.6.2018 31.12.2018
       
Current liabilities held for sale, interest-bearing 0 69 59
Current liabilities held for sale, interest-free 0 4 225 803
Liabilities total 0 4 294 862

 

KEY FIGURES      
       
The business indicators      
  Half year report Half year report Annual report
  1.1.-30.6.19 1.1.-30.6.18 1.1.-31.12.2018
1 000 EUR 6 months 6 months 12 months
       
Turnover, continuing operations 7 806 7 368 16 540
Operating profit/loss, continuing operations 41 700 2 045
% of turnover 0,5 9,5 12,4
Profit/Loss before taxes, continuing operations -42 642 1 971
% of turnover -0,5 8,7 11,9
Profit or loss for the period -120 526 1 791
% of turnover -1,5 7,1 10,8
Profit/loss of the period, discontinuing operations -324 -1 959 -1 218
Earnings per share on profit to equity holders of the parent -444 -1 433 573
% of turnover -2,6 -6,8 1,9
       
Return on equity (ROE), % neg. neg. 6,4
Return on investment (ROI), % neg. neg. 3,2
Equity ratio, % 61,2 45,4 62,1
Current ratio 1,9 0,9 1,3
Net gearing 13,5 52,8 42,0
Gross investments in fixed assets 461 242 510
% of turnover 5,9 3,3 -241,5
Order backlog, continuing operations 8 529 7 640 6 671
Consolidated balance sheet total 18 566 21 257 20 358
Total number of personnel at the end of the period, continuing operations 89 94 86

Indicator calculation formulas    
     
Return on equity % (ROE) = Profit or loss before taxes – income taxes x 100
  Shareholders’ equity + minority interest (average)  
     
Return on investments % (ROI) = Profit or loss before taxes +
interest expenses and other financial expenses
x 100
  Total assets – non-interest bearing debts (average)  
     
Equity ratio = Shareholders’ equity + minority interest x 100
  Total assets – advances received  
     
Current ratio = Current assets  
  Short-term liabilities  
     
Gearing = Interest bearing debts – cash and bank deposits and other securities x 100
  Shareholders’ equity + minority interest   

SECURITIES AND RESPONSIBILITIES  
     
Securities and Responsibilities    
     
EUR    
  31.12.2018 31.12.2017
Granted securities    
     
Dept secured by real estate and corporate mortgages
Loans from financial institutions 2 124 1 529,00
Credit limits in use 140 1 061,00
Total 2 264 2 590,00
     
Loans from financial institutions are secured by real estate and corporate mortgages and share pledges. Share pledges are the share capitals of Plc Uutechnic Group Oyj’s subsidiaries.
     
Mortgages granted to secure loans and bank guarantees    
Real estate mortgages 1 738 4 743
Corporate mortgages 18 000 22 238
Total 19 738 26 981
     
Other granted securities for own behalf    
Deposits 9 9
Total 9 9
     
Other granted securities    
Plc Uutechnic Group Oyj has granted as secirities the share capitals of its subsidiaries  Uutechnic Oy and Stelzer Rührtechnik International GmbH.
     
Contignent Liabilities and Other Liabilities    
     
Bank quarantees    
Bank guarantee limits total 8 100 8 100
Bank guarantee limits in own use 1 316 1 467
Bank guarantees granted on behalf of others*) 2741 1831
     
*) Company acts as guarantor for Japrotek delivery and warranty guarantees up to EUR 1,350 thousand, of which EUR 831 thousand was in use on 30.6.2019. In addition, prior to the arrangement, the Company has outstanding liabilities for Japrotek’s work and warranty guarantees up to 1,334 thousand on 30.6.2019.
*) Company acts as guarantor for AP-Tela Oy delivery and warranty guarantees prior to the arrangement. The outstanding liabilities on June 30, 2019 were EUR 576 thousand.
     
Operating lease agreements    
Within a year 0 31
More than one year but no more than 5 years 0 57
Total 0 88

Uusikaupunki, July 31, 2019

PLC UUTECHNIC GROUP OYJ

Board of Directors

Further information: Jouko Peräaho, CEO Plc Uutechnic Group Oyj, +358 500 740 808

www.uutechnicgroup.fi

Uutechnic Group is focused on improving the competitiveness of its customers by providing them advanced equipment technology and unique service concept worldwide in the field of mixing technology.

The main industries are hydrometallurgy, mining-, pulp and paper-, food-, fertilizer-, other chemical industries and environmental technology.

Plc Uutechnic Group’s subsidiaries are Uutechnic Oy and Stelzer Rührtechnik International GmbH.

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