OKMETIC INTERIM REPORT 1 JANUARY - 30 SEPTEMBER 2009
(Thomson Reuters ONE) - OKMETIC OYJ INTERIM REPORT 27 OCTOBER 2009 AT 14.50 P.MOKMETIC INTERIM REPORT 1 JANUARY - 30 SEPTEMBER 2009Okmetic is a technology company that supplies customised siliconwafers for the sensor and semiconductor industries and sells itstechnological expertise to the solar energy industry. During theperiod under review, the company's net sales amounted to 40.5 millioneuro (52.1 million euro). Loss for the period was -0.2 million euro(profit 6.9 million euro). Earnings per share were -0.01 euro (0.41euro).KEY FIGURES1,000 euro 1.7.- 1.7.- 1.1.- 1.1.- 1.1.- 30.9.09 30.9.08 30.9.09 30.9.08 31.12.08Net sales 12,171 18,090 40,549 52,116 67,867Operating profit beforedepreciation (EBITDA) 992 3,845 5,660 12,640 15,517Operating profit/loss -748 2,089 467 7,368 8,476 % of net sales -6.1 11.5 1.2 14.1 12.5Profit/loss for the period -1,234 2,870 -168 6,942 5,825Earnings per share, euro -0.07 0.17 -0.01 0.41 0.34Net cash flow from operatingactivities 192 4,522 4,457 10,299 13,177Net interest-bearingliabilities -2,914 1,807 -2,914 1,807 -586Average number ofpersonnel during theperiod 339 367 339 363 364REVIEW IN BRIEF- New President for Okmetic. Antti Rasilo will leave the companytoday. Deputy to the president, Executive Vice President, Sales MikkoMontonen will handle the duties of President for the time being.- The net sales in January-September 2009 amounted to 40.5 millioneuro (52.1 million euro) and in the third quarter to 12.2 millioneuro (18.1 million euro).- Sales of sensor wafers in January-September are slightly lower thanin 2008. Semiconductor wafer sales are still increasing after the lowpoint in the first quarter. Sales in January-September are stillclearly below last year's figures.- Loss for the period was -0.2 million euro (profit 6.9 millioneuro). In the third quarter the loss for the period was -1.2 millioneuro (profit 2.9 million euro).- The result was weighed down by the additional cost of 0.5 millioneuro caused by the outcome of the personnel negotiations conducted inSeptember.- As a result of the personnel negotiations the number of theclerical workers will be reduced by 22 persons and 23 manual workerswill be temporarily laid off until further notice.- Earnings per share were -0.01 euro (0.41 euro).- The net cash flow from operations in January-September 2009amounted to 4.5 million euro (10.3 million euro) and in the thirdquarter to 0.2 million euro (4.5 million euro).- At the end of the period, the company's cash and cash equivalentsexceeded the interest-bearing liabilities by 2.9 million euro (1.8million euro lower).- Net sales for the year 2009 are expected to amount to around 53million euro. Operating profit is estimated to be slightly positive.Cash flow from operating activities is expected to be clearlypositive.MARKETSCustomer industriesThe global economic downturn has affected the market situation amongOkmetic's customer industries in 2009. The sensor industry had grownaccustomed to a steady market growth of above 10 percent a year. Thisyear shipment volumes have increased more slowly than usual, though.Due to the market situation the prices have partially declined, too.In the first three quarters of the year, the sales of sensor productsare estimated to be slightly below the corresponding period in 2008.In semiconductor industry the beginning of the year was weak, butsince then the industry has started to recover clearly. In the lightof published sales figures, the gross invoicing for semiconductorsquoted in US dollars fell in January-August by more than 20 percentyear-on-year.The solar panel market has clearly suffered from the general downturnand decreasing national subsidies in 2009. Stock volumes haveincreased and prices have fallen. Investments have slowed down due toincreased caution amongst customers.Silicon wafer industryThe increasing use of sensors in many consumer electronicsapplications has boosted the sensor market while the demand forwafers in the automotive industry has temporarily suffered. Thedifficult market situation of customer industries was also seen inthe demand of semiconductor wafers. Semiconductor wafer deliveries inthe first three quarters fell drastically compared to thecorresponding period a year ago.OkmeticOkmetic's sales of sensor wafers have remained almost at the samelevel as a year ago, despite the market situation. Sales ofsemiconductor wafers have decreased significantly due to the generaldecline in demand. In a challenging market situation of 2009 Okmetichas succeeded to increase its market share in the main product areas.PROJECTIONS FOR THE NEAR FUTURECustomer industriesThe market situation in the sensor industry is expected to remainstable the rest of the year. All-year sensor sales are expected tofinish at about 10 percent below 2008 levels but to return todouble-digit growth in 2010.Semiconductor industry is in recovery. The forecasts for total salesin 2009 have recently been revised upwards, and the latest estimateis that the year-on-year drop in semiconductor invoicing will notreach 20 percent. Semiconductor sales are predicted to see a clearincrease in 2010 and to return to the 2008 level.Market growth in solar cells and panels is expected next year.Consequently, the technology sales market is expected to recover.Silicon wafer industryThe market development of the silicon wafer industry is monitored interms of surface area. According to a forecast published by SEMI (theglobal industry association of silicon wafer suppliers)in October,thetotal delivery volume in 2009 is projected to be around 6,300 millionsquare inches. The volume is thus down about 20 percent from 2008.SEMI expects wafer demand to increase 23 percent in 2010.OkmeticOkmetic specialises in the manufacture of demanding sensor wafers andis the global market leader and a pioneer in technologicaldevelopment in this respect. The leading position as the supplier ofadvanced sensor wafers creates a sound basis for the company andsubstantial growth potential when the wafer industry is returning toa growth track. This is expected to happen next year. Okmetic'ssemiconductor wafer shipments have increased steadily since the lowpoint experienced in the first quarter of 2009. The increase indemand for semiconductor wafers is expected to continue in the lastquarter of the year. Technology sales are expected to remain on levelwith Q3 figures in the fourth quarter. Due to the completion of thesignificant three-year technology sales project Okmetic is wellpositioned for signing new technology contracts.Net sales for the year 2009 are expected to amount to around 53million euro. Operating profit is estimated to be slightly positive.Cash flow from operating activities is expected to be clearlypositive.EVENTS AFTER THE INTERIM REPORT PERIODThe company and President have mutually decided that Antti Rasilo,President since the beginning of 2003 leaves Okmetic today. Deputy tothe president, Executive Vice President, Sales Mikko Montonen willhandle the duties of President for the time being. The board ofdirectors has initiated the search for a new President.SALESOkmetic's net sales in January-September 2009 decreased by 22.2percent from the previous year (increased by 6.7%), amounting to 40.5million euro (52.1 million euro). In the third quarter the net salesamounted to 12.2 million euro (18.0 million euro). Net sales wentdown, following especially the dramatic deterioration in the marketsituation of the semiconductor industry at the end of 2008 and themajor three-year technology sales project which was nearly completedat the end of June 2009. Semiconductor wafers' market situation hasimproved from the first quarter continuously.Net sales per customer area 1.7.- 1.7.- 1.1.- 1.1.- 1.1.- 30.9.09 30.9.08 30.9.09 30.9.08 31.12.08Sensor wafers 43% 38% 40% 36% 37%Semiconductorwafers 38% 39% 27% 39% 38%Technology 19% 23% 33% 25% 25%Okmetic's sensor wafer sales in January-September 2009 remainedslightly behind the previous year. The use of sensors is expected tocontinue its increase. Sensor applications are rapidly becoming morepopular in cameras and other consumer electronics products, forexample, in addition to the automotive industry and other traditionalapplications.The falling share of semiconductor sales in our total sales is theresult of the weak market situation. However, the market situationhas improved continuously after the low point experienced in thefirst quarter of 2009. The most typical uses of semiconductor wafersinclude consumer electronics, information technology,telecommunications and the automotive industry.Technology sales comprise not just manufacturing technology but alsocrystal sales and occasional polysilicon recycling. The fluctuationsin sales volume percentages per customer area and market area are dueto the nature of technology sales and irregular income recognitionschedule.Net sales per market area 1.7.- 1.7.- 1.1.- 1.1.- 1.1.- 30.9.09 30.9.08 30.9.09 30.9.08 31.12.08North 38% 39% 36% 38% 39%AmericaEurope 32% 25% 34% 34% 33%Asia 30% 36% 30% 28% 28%The exchange rates of the US dollar and Japanese yen against the eurohave an effect on the way net sales are distributed between differentmarket areas.PROFITABILITYOkmetic group's loss for the period was -0.2 million euro (profit 6.9million euro) in January-September 2009. In the third quarter theloss for the period was -1.2 million euro (profit 2.9 million euro).Earnings per share were -0.01 euro (0.41 euro). The company's profitswere burdened by the low operating rate resulting from the marketsituation in semiconductor wafers. Profits are also suffering as aresult of the substantially lower recycling price received forsilicon. Okmetic's result was weighed down by the additional cost of0.5 million euro caused by the outcome of the personnel negotiationsconducted in September as well as the exchange losses of 0.5 millioneuro in January-September. All the costs have been adjusted to theprevailing market situation in the group.FINANCING AND INVESTMENTSThe group's financial situation is good. The company's cash and cashequivalents exceed the interest-bearing liabilities by 2.9 millioneuro (1.8 million euro lower). The net cash flow from operations inJanuary-September 2009 amounted to 4.5 million euro (10.3 millioneuro) and in the third quarter to 0.2 million euro (4.5 millioneuro).A total of 1.4 million euro was invested in refurbishing productionequipment.At the end of the period, cash and cash equivalents amounted to 17.3million euro (17.5 million euro). Return on equity amounted to -0.5percent (19.3%). The group's equity ratio was 66.6 percent (61.8%).Shareholders' equity per share amounted to 2.90 euro (2.98 euro).PRODUCT DEVELOPMENTThe company invested 1.7 million euro (1.6 million euro) in long-termproduct development projects during the financial period. Productdevelopment accounted for 4.2 percent (3.2%) of the net sales.Okmetic engaged in several strategic research projects. R&D workfocused on sensor wafers which are important to Okmetic.PERSONNELOn average, Okmetic employed 339 people (363). At the end of theperiod, 302 of the group's employees worked in Finland, 30 in the USand three in Japan. Majority of the company's personnel in Finlandwere temporarily laid off from one to six weeks in February-June2009. As a result of the personnel negotiations conducted inSeptember the number of the clerical workers will be reduced by 22persons, of which 19 in Finland. 23 manual workers will betemporarily laid off until further notice in Finland. These actionswill result in savings of over a million euro annually. The effect ofthe savings will be noticeable as of the beginning of 2010.BUSINESS RISKSOkmetic's silicon wafer sales are targeted at the sensor andsemiconductor industries. The demand for semiconductor wafers issensitive to economic fluctuations and changes in the marketsituation can be sudden and dramatic. The demand for sensor wafers issignificantly more stable and sales of sensor wafers are developingfavourably. The success of the sales strategy hinges on trouble-freecontract manufacturing.Okmetic's share of the global silicon wafer market is around onepercent and the market prices have an effect on the price developmentof the company's products. The majority of sales are conducted in USdollars. The Japanese yen is another notable trading currency.Despite hedging, the company remains exposed to exchange ratefluctuations.Great volumes of electricity are used in Okmetic's production. Thesignificant and long-term electricity hedging measures will have animpact on the result for the period if the price of electricitychanges significantly.SHARE PRICE DEVELOPMENT AND TRADINGA total of 2.9 million shares (7.1 million shares) were tradedbetween 1 January and 30 September 2009, representing 17.1 percent(42.2%) of the share total of 16.9 million. The lowest quotation ofthe period was 1.81 euro (2.20 euro) and the highest was 2.99 europer share (3.14 euro), with an average of 2.40 euro (2.66 euro). Theclosing quotation for the period was 2.67 euro (3.00 euro). The totalmarket value of the share capital amounted to 45.1 million euro atthe end of the financial period (50.7 million euro).OWN SHARESThe company has not redeemed its own shares.AUTHORISATION OF THE BOARD OF DIRECTORS TO DECIDE ON REPURCHASING THECOMPANY'S OWN SHARESThe extraordinary general meeting held on 6 November 2008 authorisedthe board of directors to decide on repurchasing the company's ownshares as follows. The aggregate number of shares repurchased on thebasis of the authorisation cannot exceed 1,688,750 shares, whichrepresents 10 percent of all the shares of the company.Only unrestricted shareholders' equity can be used to repurchase thecompany's own shares under the authorisation. Own shares can berepurchased at a price determined by public trading on the day ofrepurchase or at another market-based price. The authorisation willremain 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 TRANSFERRINGRIGHTS TO THE COMPANY'S OWN SHARESThe extraordinary general meeting held on 6 November 2008 authorisedthe board of directors to decide on transferring rights to thecompany's own shares as follows. The aggregate number of rightstransferred on the basis of the authorisation cannot exceed 1,688,750shares, which represents 10 percent of all the shares of the company.The authorisation will remain in force until further notice, althoughin any case not past 30 June 2013.AUTHORITY OF THE BOARD OF DIRECTORS TO INCREASE SHARE CAPITALThe annual general meeting held on 2 April 2009 authorised the boardof directors to decide on increasing the company's share capital. Theaggregate number of shares issued on the basis of the authorisationcannot exceed 3,377,500 shares, which represents approximately 20percent of all the shares of the company.The board of directors was authorised to decide on all the terms andconditions concerning the issue of shares and other shareentitlements. The authorisation relates to the issuance of newshares. Issuance of shares and other share entitlements can becarried out as a directed issue. The authorisation is effective untilthe following annual general meeting.The board has not taken advantage of the authorisations by 30September 2009.CONVERTIBLE BONDS AND OPTION PROGRAMMESOkmetic has no convertible bonds or option programmes at the moment.CONDENSED FINANCIAL STATEMENTS AND TABLES 1 JANUARY - 30 SEPTEMBER2009 (unaudited)These interim financial statements have been prepared in accordancewith IAS 34 standard.In preparing these interim financial statements, Okmetic has followedthe same accounting policies as in the financial statements for 2008except that the company has adopted the following new or revisedstandards as of 1 January 2009:- IAS 1, Presentation of Financial Statements - amendment- IFRS 8, Operating SegmentsThe amendment to IAS 1 affects the way the income statement and thestatement of changes in equity are presented. The amendment to IFRS 8does not affect the information presented for segments, because thesegment data provided by the group have always been based on thegroup's internal reporting structure.CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME1,000 euro 1.7.- 1.7.- 1.1.- 1.1.- 1.1.- 30.9.09 30.9.08 30.9.09 30.9.08 31.12.08Net sales 12,171 18,090 40,549 52,116 67,867Cost of sales -10,906 -13,627 -35,281 -39,141 -50,687Gross profit 1,264 4,463 5,268 12,974 17,180Other income and expenses -2,012 -2,374 -4,801 -5,606 -8,704Operating profit/loss -748 2,089 467 7,368 8,476Financial income andexpenses -509 595 -861 -468 -2,900Profit/loss before tax -1,257 2,683 -394 6,900 5,576Income tax 23 186 225 42 248Profit/loss for the period -1,234 2,870 -168 6,942 5,825Other comprehensive income:Translation differences -190 628 -293 364 560Available-for-salefinancial assets - -281 - -900 114Other comprehensive incomefor the period, net of tax -190 347 -293 -536 674Total comprehensive incomefor the period -1,425 3,217 -462 6,406 6,499Profit/loss for the periodattributable to:Equity holders of theparent company -1,234 2,870 -168 6,942 5,825Total comprehensive incomeattributable to:Equity holders of theparent company -1,425 3,217 -462 6,406 6,499Basic and diluted earningsper share, euro -0.07 0.17 -0.01 0.41 0.34CONDENSED CONSOLIDATED BALANCE SHEET1,000 euro Sept 30, Sept 30, Dec 31, 2009 2008 2008AssetsNon-current assetsProperty, plant and equipment 34,830 40,163 38,848Available-for-sale financial assets - 1,541 -Other receivables 4,361 5,388 4,619Total non-current assets 39,191 47,092 43,468Current assetsInventories 7,494 7,617 10,753Receivables 9,836 10,105 9,289Cash and cash equivalents 17,259 17,493 17,975Total current assets 34,588 35,215 38,016Total assets 73,778 82,307 81,484Equity and liabilitiesEquityEquity attributable to equity holders ofthe parent companyShare capital 11,821 11,821 11,821Other equity 37,192 38,475 38,568Total equity 49,013 50,296 50,389LiabilitiesNon-current liabilities 12,538 15,504 14,027Current liabilities 12,228 16,506 17,068Total liabilities 24,766 32,010 31,095Total equity and liabilities 73,778 82,307 81,484CONDENSED CONSOLIDATED CASH FLOW STATEMENT1,000 euro Jan 1- Jan 1- Jan 1- Sept 30, Sept 30, Dec 31, 2009 2008 2008Cash flows from operating activities:Profit/loss before tax -394 6,900 5,576Adjustments 5,864 5,678 11,272Change in working capital -607 -1,902 -2,935Interest received 239 322 424Interest paid and other financialitems -644 -674 -1,135Tax paid - -24 -26Net cash from operating activities 4,457 10,299 13,177Cash flows from investing activities:Proceeds from investing activities 641 21 469Capital expenditure -1,666 -1,482 -2,646Net cash used in investing activities -1,025 -1,461 -2,177Cash flows from financing activities:Repayments of long-term borrowings -3,023 -2,873 -4,748Payments of finance lease liabilities -96 -161 -198Dividends paid -844 -1,689 -1,689Net cash used in financing activities -3,964 -4,723 -6,634Increase (+) / decrease (-) in cashand cash equivalents -532 4,115 4,365Exchange rate changes -184 70 301Cash and cash equivalents at thebeginning of the period 17,975 13,308 13,308Cash and cash equivalents at the endof the period 17,259 17,493 17,975CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Equity attributable to equity holders of parent company1,000 euro Share Share Trans-lation Fair Retained Total capital premium diffe-rences value earnings equity reserveBalance at 31Dec 2008 11,821 20,115 635 - 17,818 50,389Totalcomprehensiveincome for theperiod -293 -168 -462Dividenddistribution -844 -844Equitycomponent ofconvertibleloan notes -70 -70Balance at30 Sept 2009 11,821 20,045 341 - 16,805 49,013Balance at 31Dec 2007 11,821 20,186 75 -114 13,682 45,649Totalcomprehensiveincome for theperiod 364 -900 6,942 6,406Dividenddistribution -1,689 -1,689Equitycomponent ofconvertibleloan notes -70 -70Balance at30 Sept 2008 11,821 20,115 438 -1,013 18,935 50,296CHANGES IN PROPERTY, PLANT AND EQUIPMENT1,000 euro Jan 1- Jan 1- Jan 1- Sept 30, Sept 30, Dec 31, 2009 2008 2008Carrying amount at thebeginning of the period 38,848 43,355 43,355Additions 1,440 1,948 2,773Disposals - - -537Depreciation -5,193 -5,272 -7,041Exchange differences -265 133 298Carrying amount at the endof the period 34,830 40,163 38,848CHANGES IN FINANCIAL LIABILITIES1,000 euro Jan 1- Jan 1- Jan 1- Sept 30, Sept 30, Dec 31, 2009 2008 2008Carrying amount at the beginning ofthe period 17,389 22,259 22,259Proceeds of loans from financialinstitutions - - 999Repayments of loans from financialinstitutions -2,020 -1,870 -4,744Repayments of subordinated loans -928 -928 -928Changes in finance lease liabilities -96 -161 -198Carrying amount at the end of theperiod 14,345 19,300 17,389DIVIDENDS PAIDIn April, the company distributed a dividend of 0.8 million euro ofthe profit accrued in 2008, representing a 0.05 euro dividend pershare.COMMITMENTS AND CONTINGENCIES1,000 euro Sept 30, Sept 30, Dec 31, 2009 2008 2008Loans secured with collaterals 12,167 14,500 13,333Collaterals 24,964 29,001 24,964Off-balance sheet lease commitments 109 260 165Capital commitments 110 - 574Nominal values of derivative contractsCurrency forward agreements - 1,344 -Currency options, call - 689 -Currency options, put - 345Electricity derivatives 2,544 2,609 2,961Interest rate swaps 7,071 - -Fair values of derivative contractsCurrency forward agreements - -49 -Currency options, call - 15 -Currency options, put - -11 -Electricity derivatives -646 522 -540Interest rate swaps -64 - -The contract price of the derivatives has been used as the nominalvalue of the underlying asset. Derivative contracts are for hedging.RELATED PARTY TRANSACTIONSKey management compensation during the period under review amountedto 895,000 euro (1,152,000 euro).KEY FIGURES SHOWING FINANCIAL PERFORMANCE1,000 euro Jan 1- Jan 1- Sept Jan 1- Sept 30, 30, Dec 31, 2009 2008 2008Net sales 40,549 52,116 67,867Change in net sales compared to theprevious year's period, % -22.2 6.7 5.0Export and foreign operations share ofnet sales, % 95.6 95.4 95.6Operating profit before depreciation(EBITDA) 5,660 12,640 15,517 % of net sales 14.0 24.3 22.9Operating profit 467 7,368 8,476 % of net sales 1.2 14.1 12.5Profit/loss before tax -394 6,900 5,576 % of net sales -1.0 13.2 8.2Return on equity, % -0.5 19.3 12.1Return on investment, % 0.3 15.5 9.9Non-interest-bearing liabilities 10,421 12,710 13,707Net interest-bearing liabilities -2,914 1,807 -586Net gearing ratio, % -5.9 3.6 -1.2Equity ratio, % 66.6 61.8 62.8Capital expenditure 1,440 1,948 2,773 % of net sales 3.6 3.7 4.1Depreciation 5,193 5,272 7,041Research and developmentexpenditure 1) 1,714 1,645 2,261 % of net sales 4.2 3.2 3.3Average number of personnel during theperiod 339 363 364Personnel at the end of the period 335 361 3631) Research and development expenditure has been presented in grossfigures and only long-term projects based on research program havebeen taken into account.KEY FIGURES PER SHAREEuro Sept 30, Sept 30, Dec 31, 2009 2008 2008Earnings per share basic and diluted -0.01 0.41 0.34Equity per share 2.90 2.98 2.98Dividend per share - - 0.05Dividends/earnings, % - - 14.5Effective dividend yield, % - - 2.1Price/earnings (P/E) -267.6 7.3 7.0Share price performance(Jan 1-)Average trading price 2.40 2.65 2.63Lowest trading price 1.81 2.20 2.15Highest trading price 2.99 3.14 3.14Trading price at the end of theperiod 2.67 3.00 2.40Market capitalisation at the end ofthe period, 1,000 euro 45,090 50,663 40,530Trading volume (Jan 1-)Trading volume, transactions 2,895,265 7,129,877 8,355,374In relation to weighted averagenumber of shares, % 17.1 42.2 49.5Trading volume, euro 6,938,955 18,877,311 22,002,739The weighted average number ofshares during the period underreview adjusted by the share issue 16,887,500 16,887,500 16,887,500The number of shares at the end ofthe period adjusted by the share 16,887,500 16,887,500 16,887,500issueQUARTERLY KEY FIGURES 10-12/09 7-9/09 4-6/09 1-3/09Net sales 12,171 13,538 14,841 Compared to previous quarter % -10.1 -8.8 -5.8Operating profit/loss -748 688 527 % of net sales -6.1 5.1 3.6Profit/loss before tax -1,257 46 818 % of net sales -10.3 0.3 5.5Net cash flow generated from:Operating activities 192 4,761 -496Investing activities -87 -786 -152Financing activities -22 -3,905 -37Increase/decrease in cash andcash equivalents 83 70 -685Personnel at the end of theperiod 335 343 338 10-12/08 7-9/08 4-6/08 1-3/08Net sales 15,751 18,090 16,992 17,034 Compared to previous quarter % -12.9 6.5 -0.2 7.9Operating profit 1,108 2,089 2,737 2,542 % of net sales 7.0 11.5 16.1 14.9Profit/loss before tax -1,323 2,683 2,582 1,634 % of net sales -8.4 14.8 15.2 9.6Net cash flow generated from:Operating activities 2,878 4,522 3,495 2,281Investing activities -716 -289 -841 -331Financing activities -1,912 -48 -4,616 -58Increase/decrease in cash andcash equivalents 250 4,185 -1,962 1,892Personnel at the end of theperiod 363 361 370 359DEFINITIONS OF KEY FINANCIAL FIGURESOperating profit before = Operating profit + depreciationdepreciation (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 receivedNet gearing ratio, % = (Interest-bearing liabilities - cash and cash equivalents) x 100/ EquityEarnings 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 periodEquity per share = Equity attributable to the equity holders of the parent company/ Adjusted number of shares at the end of the periodDividend per share = Dividend for the period/ Adjusted number of shares at the end of the periodEffective dividend yield, % = Dividend per share x 100/ Trading price at the end of the periodPrice/earnings ratio (P/E) = Last adjusted trading price at the end of the period/ Earnings per shareAverage trading price = Total traded amount in euro/ Adjusted number of shares traded during the periodMarket capitalisation at the = Number of shares at the end of theend of the period period x trading price at the end of the periodTrading volume = Number of shares traded during the period/ Weighted average number of shares during the periodAll figures of the financial tables are rounded, and consequently thesum of individual figures can deviate from the presented sum figure.The figures are unaudited. In the written report, the figures inparenthesis refer to the corresponding period in the previous year.The future estimates and forecasts in this interim report bulletinare based on company management's current knowledge. Actual eventsand results may differ from the estimates presented here.OKMETIC OYJBoard of directorsPRESS CONFERENCEOkmetic will hold a press conference for the media and analysts onFriday 30 October 2009 at 9.00 a.m at the World Trade Center,Aleksanterinkatu 17, second floor, Helsinki.For further information, please contact:Chairman of the board, Henri ÿsterlund, Okmetic Oyj,tel. + 358 50 348 9600Deputy to the president, Mikko Montonen, Okmetic Oyjtel. + 358 40 5011 262, email: mikko.montonen(at)okmetic.comSenior Vice President, Finance Esko Sipilä, Okmetic Oyj,tel. +358 9 5028 0286, email: esko.sipila(at)okmetic.comDistribution:NASDAQ OMX HelsinkiPrincipal mediawww.okmetic.comOKMETIC IN BRIEFTake it higherOkmetic is a technology company which supplies tailor-made siliconwafers for sensor and semiconductor industries and sells itstechnological expertise to the solar energy industry. Okmeticprovides its customers with solutions that boost theircompetitiveness and profitability.Okmetic's silicon wafers are part of a further processing chain thatproduces end products that improve human interaction and quality oflife. Okmetic's products are based on high-tech expertise thatgenerates added value for customers, innovative product developmentand an extremely efficient production process.Okmetic has a global customer base and sales network, productionplants in Finland and the US and contract manufacturers in Japan andChina.Okmetic's shares are listed on NASDAQ OMX Helsinki under the codeOKM1V. For more information on the company, please visit our websiteat www.okmetic.com.http://hugin.info/132025/R/1350399/325819.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 27.10.2009 - 13:51 Uhr
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