firmenpresse print | OKMETIC INTERIM REPORT 1 JANUARY

31.07.2009	OKMETIC INTERIM REPORT 1 JANUARY - 30 JUNE 2009
OKMETIC OYJ INTERIM REPORT 31 JULY 2009, AT 10.00 AM Okmetic is a technology company that supplies customised silicon wafers for the sensor and semiconductor industries and sells its technological expertise to the solar energy industry. During the period under review, the company's net sales amounted to 28.4 million euro (34.0 million euro). Profit for the period was 1.1 million euro (4.1 million euro). Earnings per share were 0.06 euro (0.24 euro). REVIEW IN BRIEF - The net sales in the first half of the year amounted to 28.4 million euro (34.0 million euro) and in the second quarter to 13.5 million euro (17.0 million euro). - The operating profit before depreciation (EBITDA) in the first half of the year was 4.7 million euro (8.8 million euro) and in the second quarter 2.4 million euro (4.5 million euro). - The operating profit in the first half of the year was 1.2 million euro (5.3 million euro) and in the second quarter 0.7 million euro (2.7 million euro). - Profit for the period was 1.1 million euro (4.1 million euro). In the second quarter the profit for the period was 0.0 million euro (2.4 million euro). - Earnings per share were 0.06 euro (0.24 euro). - The net cash flow from operations in the first half of the year amounted to 4.3 million euro (5.8 million euro) and in the second quarter to 4.8 million euro (3.5 million euro). - At the end of the period, the company's cash and cash equivalents exceeded the interest-bearing liabilities by 2.9 million euro (6.2 million euro lower). - The company has no subordinated loans anymore. - Sales of sensor wafers are almost on a par with 2008 levels, while sales of semiconductor wafers have fallen substantially. Significant three-year technology sales project has been carried out almost entirely. The project has been extremely successful. - Majority of the company's personnel in Finland were temporarily laid off from one to six weeks in February-June 2009. - The market situation being as it is, there is great uncertainty concerning the estimate on net sales and performance in 2009. Net sales for the year 2009 are expected to amount to around 54 million euro. Operating profit is estimated to be slightly positive. Cash flow from operating activities is expected to be clearly positive. The group continues to adjust its expenses to the prevailing market situation. KEY FIGURES 1,000 euro 1.1.- 1.1.- 1.1.- 1.1.- 1.1.- 30.6.09 30.6.08 31.12.08 31.12.07 31.12.06 Net sales 28,379 34,025 67,867 64,652 63,694 Operating profit before depreciation (EBITDA) 4,668 8,795 15,517 15,216 18,363 Operating profit 1,215 5,279 8,476 7,121 9,877 % of net sales 4.3 15.5 12.5 11.0 15.5 Profit for the period 1,066 4,072 5,825 5,305 6,886 Earnings per share, euro 0.06 0.24 0.34 0.31 0.41 Net cash flow from operating activities 4,265 5,776 13,177 8,305 17,945 Net interest-bearing liabilities -2,898 6,220 -586 8,952 12,547 Average number of personnel during the period 340 361 364 362 360 MARKETS Customer industries The worldwide economic problems in the first half of 2009 had repercussions on the demand for electronics in all market areas and therefore also on Okmetic's customer industries. The sensor industry, where typical annual growth had previously been around 10 percent, now experienced a rare drop in demand as a result of the economic downturn. At the beginning of the year sales of sensor wafers remained at the same level as a year ago. The market situation in the semiconductor industry was weak. In the first six months of the year, global invoicing in the sector remained substantially below the previous year's levels. Silicon wafer industry The difficult market situation in the customer industries also affected the demand for silicon wafers. Demand fell significantly in the first quarter due to clients decreasing their stock levels. In the second quarter, some of the demand consisted of replenishing these stocks. Total silicon wafers deliveries decreased significantly compared to the corresponding period a year ago. Okmetic Okmetic's sales of sensor wafers remained almost at the same level as a year ago, despite the difficult market situation. Sales of semiconductor wafers decreased significantly in the first quarter of the year as a result of the global market situation. In the second quarter of the year sales of semiconductor wafers increased essentially compared to the first quarter. Okmetic continued to increase its market share in the main product areas. Significant three-year technology sales project has been carried out almost entirely. The project has been extremely successful. PROJECTIONS FOR THE NEAR FUTURE Customer industries The market situation in the sensor industry is expected to remain stable in the second half of the year. Total annual sensor sales are expected to approach 2008 levels. Total sales of semiconductors are expected to decrease about 20 percent from 2008 levels. Demand for semiconductors suffered even more substantially in the first half of the year, but at least the third quarter sales are expected to exceed the level at the beginning of the year. Silicon wafer industry The general consensus in the industry is that sensor and semiconductor manufacturers have already started to replenish their wafer stocks in preparation for partial normalisation of demand. However, total silicon wafer deliveries globally are projected to remain well below 2008 in 2009. The gradual market recovery is expected to reflect to wafer demand in the rest of the year. Okmetic Okmetic specialises in the manufacture of demanding sensor wafers and is the global market leader and a pioneer in technological development in this respect. This creates a sound basis for the company and substantial growth potential when the wafer industry is returning to a growth track. Forecasts suggest this upturn should happen in 2010. In the second half of 2009 Okmetic's sensor wafer deliveries will be aligned to general market trends and remain at the level of the first half of the year. Okmetic's semiconductor wafer deliveries are projected to grow substantially in the second half of the year compared with the first. Due to the nearly completed major technology project and the low recycling price of silicon, technology sales in the second half of the year are forecasted to remain well below first half sales levels. The market situation being as it is, there is great uncertainty concerning the estimate on net sales and performance in 2009. Net sales for the year 2009 are expected to amount to around 54 million euro. Operating profit is estimated to be slightly positive. Cash flow from operating activities is expected to be clearly positive. The group continues to adjust its expenses to the prevailing market situation. SALES Okmetic's net sales in the first half of the year decreased by 16.6 percent from the previous year (increased by 3.3 %), amounting to 28.4 million euro (34.0 million euro). In the second quarter the net sales amounted to 13.5 million euro (17.0 million euro). Decreasing net sales at the end of 2008 followed on from the drastic downturn in the semiconductor industry's market situation in particular. Semiconductor wafers' market situation is estimated to improve in the second half of the year. The company's share of its customers` wafer sourcing continued to increase. Net sales per customer area 1.1.- 1.1.- 1.1.- 30.6.09 30.6.08 31.12.08 Sensor wafers 38% 35% 37% Semiconductor wafers 22% 39% 38% Technology 40% 26% 25% Okmetic's performance in the sensor market developed according to objectives, although also the sensor sales remained slightly behind the previous year. The use of sensors is expected to continue its increase. Sensor applications are rapidly becoming more popular in cameras and other consumer electronics products, for example, in addition to the automotive industry and other traditional applications. The falling share of semiconductor sales in our total sales is the result of the weak market situation, which is expected to improve in the second half of the year. The most typical uses of semiconductor wafers include consumer electronics, information technology, telecommunications and the automotive industry. Technology sales comprise not just manufacturing technology but also crystal sales and occasional polysilicon recycling. The significant project in production technology started three years ago and it has been carried out almost entirely. The project has been extremely successful. The company is striving to close new technology deals by the end of the year. The fluctuations in sales volume percentages per customer area and market area are due to the nature of technology sales and irregular income recognition schedule. Net sales per market area 1.1.- 1.1.- 1.1.- 30.6.09 30.6.08 31.12.08 North America 35% 38% 39% Europe 35% 39% 33% Asia 30% 23% 28% The exchange rates of the US dollar and Japanese yen against the euro have an effect on the way net sales are distributed between different market areas. PROFITABILITY Okmetic group's profit for the period was 1.1 million euro (4.1 million euro) in January-June 2009. In the second quarter the profit for the period was 0.0 million euro (2.4 million euro). Earnings per share were 0.06 euro (0.24 euro). The company's profits were burdened by the low operating rate resulting from the market situation in semiconductor wafers. Profits are also suffering as a result of the substantially lower recycling price received for silicon in the current market situation. All the costs have been adjusted to the prevailing market situation in the group. FINANCING AND INVESTMENTS The group's financial situation is good. The group's cash and cash equivalents exceeded the interest-bearing liabilities by 2.9 million euro (6.2 million euro lower). The net cash flow from operating activities in the first half of the year amounted to 4.3 million euro (5.8 million euro) and in the second quarter to 4.8 million euro (3.5 million euro). In June the company paid, in line with its amortisation programme, 1.0 million euro in capital loan instalments and associated interest. The company has no subordinated loans anymore. A total of 1.4 million euro was invested in refurbishing production equipment. The company received 0.6 million euro from the sale of used machinery. In April, the company paid a dividend of 0.8 million euro of the profit accrued in 2008. At the end of the period, cash and cash equivalents amounted to 17.2 million euro (13.1 million euro). Return on equity amounted to 4.2 percent (17.6 %). The group's equity ratio was 67.7 percent (60.1 %). Shareholders' equity per share amounted to 2.99 euro (2.79 euro). PRODUCT DEVELOPMENT The company invested 1.2 million euro (1.1 million euro) in long-term product development projects during the financial period. Product development accounted for 4.3 percent (3.1 %) of the net sales. Okmetic engaged in several strategic research projects. R&D work focused on sensor wafers which are important to Okmetic. PERSONNEL On average, Okmetic employed 340 people (361). At the end of the period, 309 of the group's employees worked in Finland, 31 in the US and three in Japan. Majority of the company's personnel in Finland were temporarily laid off from one to six weeks in February-June 2009. Foreign group units have also adjusted staff numbers to the prevailing market situation BUSINESS RISKS Okmetic's silicon wafer sales are targeted at the sensor and semiconductor industries. The demand for semiconductor wafers is sensitive to economic fluctuations and changes in the market situation can be sudden and dramatic. The demand for sensor wafers is significantly more stable and sales of sensor wafers are developing favourably. The success of the sales strategy hinges on trouble-free contract manufacturing. Okmetic's share of the global silicon wafer market is around one percent and the market prices have an effect on the price development of the company's products. The majority of sales are conducted in US dollars. The Japanese yen is another notable trading currency. Despite hedging, the company remains exposed to exchange rate fluctuations. Great volumes of electricity are used in Okmetic's production. The massive and long-term electricity hedging measures will have an impact on the result for the period if the price of electricity changes significantly. SHARE PRICE DEVELOPMENT AND TRADING A total of 2.3 million shares (3.9 million shares) were traded between 1 January and 30 June 2009, representing 13.5 percent (23.1 %) of the share total of 16.9 million. The lowest quotation of the period was 1.81 euro (2.20 euro) and the highest was 2.99 euro per share (3.14 euro), with an average of 2.31 euro (2.63 euro). The closing quotation for the period was 2.70 euro (2.55 euro). The total market value of the share capital amounted to 45.6 million euro at the end of the financial period (43.1 million euro). OWN SHARES The company has not redeemed its own shares. AUTHORISATION OF THE BOARD OF DIRECTORS TO DECIDE ON REPURCHASING THE COMPANY'S OWN SHARES The extraordinary general meeting held on 6 November 2008 authorised the board of directors to decide on repurchasing the company's own shares as follows. The aggregate number of shares repurchased on the basis of the authorisation cannot exceed 1,688,750 shares, which represents 10 percent of all the shares of the company. Only unrestricted shareholders' equity can be used to repurchase the company's own shares under the authorisation. Own shares can be repurchased at a price determined by public trading on the day of repurchase or at another market-based price. The authorisation will remain in force until the annual general meeting of spring 2010, although in any case not past 6 May 2010. AUTHORISATION OF THE BOARD OF DIRECTORS TO DECIDE ON TRANSFERRING RIGHTS TO THE COMPANY'S OWN SHARES The extraordinary general meeting held on 6 November 2008 authorised the board of directors to decide on transferring rights to the company's own shares as follows. The aggregate number of rights transferred on the basis of the authorisation cannot exceed 1,688,750 shares, which represents 10 percent of all the shares of the company. The authorisation will remain in force until further notice, although in any case not past 30 June 2013. AUTHORITY OF THE BOARD OF DIRECTORS TO INCREASE SHARE CAPITAL The annual general meeting held on 2 April 2009 authorised the board of directors to decide on increasing the company's share capital. The aggregate number of shares issued on the basis of the authorisation cannot exceed 3,377,500 shares, which represents approximately 20 percent of all the shares of the company. The board of directors was authorised to decide on all the terms and conditions concerning the issue of shares and other share entitlements. The authorisation relates to the issuance of new shares. Issuance of shares and other share entitlements can be carried out as a directed issue. The authorisation is effective until the following annual general meeting. The board has not taken advantage of the authorisations by 31 July 2009. CONVERTIBLE BONDS AND OPTION PROGRAMMES Okmetic has no convertible bonds or option programmes at the moment. CONDENSED FINANCIAL STATEMENTS AND TABLES 1 JANUARY - 30 JUNE 2009 (unaudited) These interim financial statements have been prepared in accordance with IAS 34 standard. In preparing these interim financial statements, Okmetic has followed the same accounting policies as in the financial statements for 2008 except that the company has adopted the following new or revised standards as of 1 January 2009: - IAS 1, Presentation of Financial Statements - amendment - IFRS 8, Operating Segments The amendment to IAS 1 affects the way the income statement and changes in shareholders' equity are presented. The amendment to IFRS 8 does not affect the information presented for individual segments, because the segment data provided by the group have always been based on the group's internal reporting structure. CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 1,000 euro 1.4.- 1.4.- 1.1.- 1.1.- 1.1.- 30.6.09 30.6.08 30.6.09 30.6.08 31.12.08 Net sales 13,538 16,992 28,379 34,025 67,867 Cost of sales -11,955 -12,943 -24,375 -25,514 -50,687 Gross profit 1,583 4,049 4,004 8,511 17,180 Other income and expenses -895 -1,312 -2,789 -3,232 -8,704 Operating profit 688 2,737 1,215 5,279 8,476 Financial income and expenses -642 -155 -352 -1,063 -2,900 Profit before tax 46 2,582 863 4,216 5,576 Income tax 19 -150 203 -144 248 Profit for the period 64 2,432 1,066 4,072 5,825 Other comprehensive income: Translation differences -349 94 -103 -264 560 Available-for-sale financial assets - -298 - -619 114 Other comprehensive income for the period, net of tax -349 -203 -103 -883 674 Total comprehensive income for the period -285 2,228 963 3,189 6,499 Profit for the period attributable to: Equity holders of the parent company 64 2,432 1,066 4,072 5,825 Total comprehensive income attributable to: Equity holders of the parent company -285 2,228 963 3,189 6,499 Basic and diluted earnings per share, euro 0.00 0.14 0.06 0.24 0.34 CONDENSED CONSOLIDATED BALANCE SHEET 1,000 euro Jun 30, Jun 30, Dec 31, 2009 2008 2008 Assets Non-current assets Property, plant and equipment 36,714 40,639 38,848 Available-for-sale financial assets - 1,821 - Other receivables 4,419 5,100 4,619 Total non-current assets 41,133 47,560 43,468 Current assets Inventories 7,171 8,218 10,753 Receivables 9,192 10,827 9,289 Cash and cash equivalents 17,264 13,127 17,975 Total current assets 33,626 32,172 38,016 Total assets 74,759 79,732 81,484 Equity and liabilities Equity Equity attributable to equity holders of the parent company Share capital 11,821 11,821 11,821 Other equity 38,616 35,258 38,568 Total equity 50,437 47,080 50,389 Liabilities Non-current liabilities 12,541 15,719 14,027 Current liabilities 11,781 16,934 17,068 Total liabilities 24,322 32,653 31,095 Total equity and liabilities 74,759 79,732 81,484 CONDENSED CONSOLIDATED CASH FLOW STATEMENT 1,000 euro Jan 1- Jan 1- Jan 1- Jun 30, Jun 30, Dec 31, 2009 2008 2008 Cash flows from operating activities: Profit before tax 863 4,216 5,576 Adjustments 3,406 4,039 11,272 Change in working capital 166 -1,748 -2,935 Interest received 221 209 424 Interest paid and other financial items -391 -923 -1,135 Tax paid - -16 -26 Net cash from operating activities 4,265 5,776 13,177 Cash flows from investing activities: Proceeds from investing activities 641 - 469 Capital expenditure -1,579 -1,172 -2,646 Net cash used in investing activities -938 -1,172 -2,177 Cash flows from financing activities: Repayments of long-term borrowings -3,023 -2,873 -4,748 Payments of finance lease liabilities -74 -112 -198 Dividends paid -844 -1,689 -1,689 Net cash used in financing activities -3,942 -4,674 -6,634 Increase (+) / decrease (-) in cash and cash equivalents -615 -70 4,365 Exchange rate changes -96 -111 301 Cash and cash equivalents at the beginning of the period 17,975 13,308 13,308 Cash and cash equivalents at the end of the period 17,264 13,127 17,975 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Equity attributable to equity holders of parent company 1,000 euro Share Share Trans- Fair Retained Total capital premium lation value earnings equity diffe- reserve rences Balance at 31 Dec 2008 11,821 20,115 635 - 17,818 50,389 Total comprehensive income for the period -103 1,066 963 Dividend distribution -844 -844 Equity component of convertible loan notes -70 -70 Balance at 30 Jun 2009 11,821 20,045 531 - 18,039 50,437 Balance at 31 Dec 2007 11,821 20,186 75 -114 13,682 45,649 Total comprehensive income for the period -264 -619 4,072 3,189 Dividend distribution -1,689 -1,689 Equity component of convertible loan notes -70 -70 Balance at 30 June 2008 11,821 20,115 -189 -733 16,065 47,080 CHANGES IN PROPERTY, PLANT AND EQUIPMENT 1,000 euro Jan 1 - Jan 1 - Jan 1 - Jun 30, Jun 30, Dec 31, 2009 2008 2008 Carrying amount at the beginning of the period 38,848 43,355 43,355 Additions 1,388 1,195 2,773 Disposals - - -537 Depreciation -3,453 -3,516 -7,041 Exchange differences -69 -395 298 Carrying amount at the end of the period 36,714 40,639 38,848 CHANGES IN FINANCIAL LIABILITIES 1,000 euro Jan 1 - Jan 1 - Jan 1- Jun 30, Jun 30, Dec 31, 2009 2008 2008 Carrying amount at the beginning of the period 17,389 22,259 22,259 Proceeds of loans from financial institutions - - 999 Repayments of loans from financial institutions -2,021 -1,872 -4,744 Repayments of subordinated loans -928 -928 -928 Changes in finance lease liabilities -74 -112 -198 Carrying amount at the end of the period 14,365 19,347 17,389 DIVIDENDS PAID In April, the company distributed a dividend of 0.8 million euro of the profit accrued in 2008, representing a 0.05 euro dividend per share. COMMITMENTS AND CONTINGENCIES 1,000 euro Jun 30, Jun 30, Dec 31, 2009 2008 2008 Loans secured with collaterals 12,167 14,500 13,333 Collaterals 24,964 29,001 24,964 Off-balance sheet lease commitments 97 223 165 Capital commitments 112 - 574 Nominal values of derivative contracts Currency forward agreements 396 - - Currency options, call - 2,348 - Electricity derivatives 2,587 1,827 2,961 Interest rate swaps 7,071 - - Fair values of derivative contracts Currency forward agreements 43 - - Currency options, call - 131 - Electricity derivatives -460 946 -540 Interest rate swaps -14 - - The contract price of the derivatives has been used as the nominal value of the underlying asset. Derivative contracts are for hedging. RELATED PARTY TRANSACTIONS Key management compensation during the period under review amounted to 644,000 euro (788,000 euro). KEY FIGURES SHOWING FINANCIAL PERFORMANCE 1,000 euro Jan 1- Jan 1- Jan 1- Jun 30, Jun 30, Dec 31, 2009 2008 2008 Net sales 28,379 34,025 67,867 Change in net sales compared to the previous year's period, % -16.6 3.3 5.0 Export and foreign operations share of net sales, % 95.9 95.2 95.6 Operating profit before depreciation (EBITDA) 4,668 8,795 15,517 % of net sales 16.4 25.8 22.9 Operating profit 1,215 5,279 8,476 % of net sales 4.3 15.5 12.5 Profit before tax 863 4,216 5,576 % of net sales 3.0 12.4 8.2 Return on equity, % 4.2 17.6 12.1 Return on investment, % 3.7 15.4 9.9 Non-interest-bearing liabilities 9,957 13,305 13,707 Net interest-bearing liabilities -2,898 6,220 -586 Net gearing ratio, % -5.7 13.2 -1.2 Equity ratio, % 67.7 60.1 62.8 Capital expenditure 1,388 1,195 2,773 % of net sales 4.9 3.5 4.1 Depreciation 3,453 3,516 7,041 Research and development expenditure 1) 1,213 1,048 2,261 % of net sales 4.3 3.1 3.3 Average number of personnel during the period 340 361 364 Personnel at the end of the period 343 370 363 1) Research and development expenditure has been presented in gross figures and only long-term projects based on research program have been taken into account. KEY FIGURES PER SHARE Euro Jun 30, Jun 30, Dec 31, 2009 2008 2008 Earnings per share basic and diluted 0.06 0.24 0.34 Equity per share 2.99 2.79 2.98 Dividend per share - - 0.05 Dividends/earnings, % - - 14.5 Effective dividend yield, % - - 2.1 Price/earnings(P/E) 42.8 10.6 7.0 Share price performance(Jan 1-) Average trading price 2.31 2.63 2.63 Lowest trading price 1.81 2.20 2.15 Highest trading price 2.99 3.14 3.14 Trading price at the end of the period 2.70 2.55 2.40 Market capitalisation at the end of the period, 1,000 euro 45,596 43,063 40,530 Trading volume (Jan 1-) Trading volume, transactions 2,288,112 3,898,409 8,355,374 In relation to weighted average number of shares, % 13.5 23.1 49.5 Trading volume, euro 5,293,226 10,249,556 22,002,739 The weighted average number of shares during the period under review adjusted by the share issue 16,887,500 16,887,500 16,887,500 The number of shares at the end of the period adjusted by the share issue 16,887,500 16,887,500 16,887,500 QUARTERLY KEY FIGURES 1,000 euro 10-12/09 7-9/09 4-6/09 1-3/09 Net sales 13,538 14,841 Compared to previous quarter % -8.8 -5.8 Operating profit 688 527 % of net sales 5.1 3.6 Profit before tax 46 818 % of net sales 0.3 5.5 Net cash flow generated from: Operating activities 4,761 -496 Investing activities -786 -152 Financing activities -3,905 -37 Increase/decrease in cash and cash equivalents 70 -685 Personnel at the end of the period 343 338 10-12/08 7-9/08 4-6/08 1-3/08 Net sales 15,751 18,090 16,992 17,034 Compared to previous quarter % -12.9 6.5 -0.2 7.9 Operating profit 1,108 2,089 2,737 2,542 % of net sales 7.0 11.5 16.1 14.9 Profit before tax -1,323 2,683 2,582 1,634 % of net sales -8.4 14.8 15.2 9.6 Net cash flow generated from: Operating activities 2,878 4,522 3,495 2,281 Investing activities -716 -289 -841 -331 Financing activities -1,912 -48 -4,616 -58 Increase/decrease in cash and cash equivalents 250 4,185 -1,962 1,892 Personnel at the end of the period 363 361 370 359 DEFINITIONS OF KEY FINANCIAL FIGURES Operating profit before = Operating profit + depreciation depreciation (EBITDA) Return on equity, % (ROE) = Profit/loss for the period from continuing operations x 100 Equity (average for the period) Return on investment, % = (Profit/loss before tax + interest and (ROI) other financial expenses) x 100 Balance sheet total - non-interest bearing liabilities (average for the period) Equity ratio, % = Equity x 100 Balance sheet total - advances received Net gearing ratio, % = (Interest-bearing liabilities - cash and cash equivalents) x 100 Equity Earnings per share = Profit/loss for the period attributable to the equity holders of the parent company Adjusted weighted average number of shares in issue during the period Equity per share = Equity attributable to the equity holders of the parent company Adjusted number of shares at the end of the period Dividend per share = Dividend for the period Adjusted number of shares at the end of the period Effective dividend yield, % = Dividend per share x 100 Trading price at the end of the period Price/earnings ratio (P/E) = Last adjusted trading price at the end of the period Earnings per share Average trading price = Total traded amount in euro Adjusted number of shares traded during the period Market capitalisation at the = Number of shares at the end of the end of the period period x trading price at the end of the period Trading volume = Number of shares traded during the period Weighted average number of shares during the period All figures of the financial tables are rounded, and consequently the sum of individual figures can deviate from the presented sum figure. The figures are unaudited. In the written report, the figures in parenthesis refer to the corresponding period in the previous year. The future estimates and forecasts in this interim report bulletin are based on company management's current knowledge. Actual events and results may differ from the estimates presented here. OKMETIC OYJ Board of directors PRESS CONFERENCE The company will not arrange a press conference for the release of this interim report. For further information, please contact: President Antti Rasilo, Okmetic Oyj tel. +358 40 746 1351, email: antti.rasilo@okmetic.com Senior Vice President, Finance Esko Sipilä, Okmetic Oyj, tel. +358 9 5028 0286, email: esko.sipila@okmetic.com Distribution: NASDAQ OMX Helsinki Principal media www.okmetic.com OKMETIC IN BRIEF Take it higher Okmetic is a technology company which supplies tailor-made silicon wafers for sensor and semiconductor industries and sells its technological expertise to the solar energy industry. Okmetic provides its customers with solutions that boost their competitiveness and profitability. Okmetic's silicon wafers are part of a further processing chain that produces end products that improve human interaction and quality of life. Okmetic's products are based on high-tech expertise that generates added value for customers, innovative product development and an extremely efficient production process. Okmetic has a global customer base and sales network, production plants in Finland and the US and contract manufacturers in Japan and China. Okmetic's shares are listed on NASDAQ OMX Helsinki under the code OKM1V. For more information on the company, please visit our website at www.okmetic.com. http://hugin.info/132025/R/1331793/315243.pdf This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Company: Okmetic Oyj contact information: Town: London
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OKMETIC INTERIM REPORT 1 JANUARY - 30 JUNE 2009