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Key figures

YEAR 2019

  • Net sales for the financial period were EUR 47.0 (41.9) million.
  • The adjusted operating result was EUR 13.0 (5.9) and the operating result 14.4 (5.3) million.
  • The adjusted result for the period was EUR 6.3 (0.1) million and the result EUR 7.7 (-0.5) million.
  • Cash flow after investments for the financial period was EUR 0.1 million (1.7) and the company’s cash and cash equivalents were EUR 3.4 (4.2) million.
  • Earnings per share were EUR 0.03 (-0.00).

2019 2018 2017 2016 2015






Net sales, MEUR 47.0 41.9 55.1 60.1 76.5
Net sales, change % 12.2 -23.9 -8.3 -21.4 3.4
Adjusted operating result, MEUR ¹ 13.0 5.9 9.8 1.2 12.0
Operating result, MEUR 14.4 5.3 -8.0 -10.1 11.7
as % of net sales 30.6 12.6 -14.5 -16.8 15.2
Profit before taxes, MEUR 11.8 4.4 -10.5 -5.6 7.8
Adjusted result for the period, MEUR ² 6.3 0.1 2.3 -4.2 0.6
Result for the period, MEUR 7.7 -0.5 -15.5 -6.3 0.2
Earnings per share, basic, EUR 0.03 0.00 -0.13 -0.05 0.00
Order book, MEUR 25.5 21.2 26.2 24.9 26.8
Cash flow after investments, MEUR 0.1 1.7 4.8 -0.9 6.3
Change in cash and cash equivalents, MEUR -0.6 1.9 -0.9 -3.0 4.2
Cash and cash equivalents, MEUR 3.4 4.2 2.3 3.5 6.4
Equity ratio % 9.9 -22.8 -19.1 17.9 23.9
Net gearing % 292.2

195.6 145.2
Personnel at the end of the period 600 543 666 818 934






1 Adjusted operating result = operating result before one-time items.

2 Adjusted result for the period = result for the period without one-time items.

With reference to the new guidelines on alternative performance measures issued by the European Securities and Markets Authority (ESMA), Tecnotree uses the alternative performance measures “adjusted operating result” and “adjusted result for the period”.


Significant transactions that are not part of the normal course of business, infrequently occurring events or valuation items that do not affect cash flow are treated as adjustment items affecting comparability between reporting periods. According to Tecnotree’s definition, such items include, for example, impairment of assets and the remeasurement to fair value, the costs of closing down offices, restructuring measure and personnel related redundancy costs. Adjusted operating result included income from sale of premises in Espoo EUR 1.4 million (cost from personnel related redundancies EUR 0.6 million).