CapMan Plc Financial Statements Bulletin 6 February 2014 at 10:45 a.m. EET CORRECTION: CapMan Group's Financial Statements Bulletin for 1 January - 31 December 2013 As a correction to the fifth bullet point in the stock exchange release issued on 6 February 2014 at 8:30 a.m. EET, CapMan announces that the capital under management as of 31 December 2012 was MEUR 3,126.7 and not MEUR 2,126.7, as was previously stated. The corrected release follows. Performance and main events for the financial year 2013 * Group turnover totalled MEUR 29.8 (January - December 2012: MEUR 27.3). * The Group's operating profit was MEUR 3.3 (MEUR 2.6). * Profit before taxes was MEUR 2.0 (MEUR 3.3) and profit after taxes was MEUR 1.5 (MEUR 2.7). * Earnings per share for the financial year were -1.2 cents (0.3 cents). * Capital under management as of 31 December 2013 totalled MEUR 3,098.2 (31 December 2012: MEUR 3,126.7). * The funds managed by CapMan exited 11 portfolio companies in total during the financial year and as a result CapMan received a total of MEUR 19.2 (MEUR 9.2) in cash flow from funds. * The Group's fees and expenses were in balance in the second half of the year. Fees grew by 5.5% compared to the previous year. * CapMan repaid its MEUR 29 hybrid bond and issued a new package of debt securities with 40% lower financing costs. * The Board of Directors of CapMan Plc will propose a dividend of EUR 0.04 per share. This stock exchange release is a summary of CapMan Plc's financial statements bulletin. The complete financial statements bulletin for the financial year 2013 is available in pdf-format as an attachment to this release, in addition to on the company's website at http://www.capman.com/capman-group/earnings-model- and-financials/result. Key figures 1-12/13 1-12/12 Turnover, MEUR 29.8 27.3 Operating profit, MEUR 3.3 2.6 Profit before taxes, MEUR 2.0 3.3 Profit for the period, MEUR 1.5 2.7 Earnings / share, cents -1.2 0.3 Diluted earnings / share, cents -1.2 0.3 1-12/13 1-12/12 Return on equity, % p.a. 2.0 3.2 Return on investment,% p.a. 3.5 4.3 Equity ratio, % 58.9 61.9 Net gearing, % 22.3 32.2 Heikki Westerlund, CEO: "We succeeded in significantly improving the profitability of our Management Company business. In addition to balancing our fees and expenses, we also accomplished a good financing position and flexibility in our capital structure. The lower financing costs as a result of the repayment of the 2008 hybrid bond will be reflected in our earnings per share starting from 2014. The general market outlook was more positive in the Nordic countries as well as in Europe at large. However, the economic slowdown in some of our home markets, namely Finland and Russia, had a negative impact especially on the fair value changes of our own fund investments in the second half of 2013. Different sectors also continued their diverging development. The weakest development was seen in companies linked to industrial production, where the ongoing structural changes have had the most impact. Many of these investments were made before the onset of the financial crisis and therefore the completion of the value creation work in these companies is taking longer than expected. We were active in the exit market during 2013, although the exits we aimed to complete by the end of last year have been postponed to this year. Further realised exits would result in excellent positive cash flow through distributions from our own fund investments." Estimate for 2014: We estimate our earnings per share to improve significantly from the level achieved in 2013 primarily due to increasing operating profit. Outlook for 2014: Our fees will cover our expenses before possible non-recurring expenses related to acquisitions or larger development projects. CapMan receives carried interest income from funds as a result of a completed exit in the event that the fund already is in carry or will enter carry due to the exit. Our current portfolio holds several investments, which we are ready to exit during 2014. The fair value development of our own fund investments will have a substantial impact on our overall result in 2014. We expect disparity in the development of individual portfolio companies and real estate also during 2014 depending on their industry and geographical location. In addition, our portfolio companies and real estate are also influenced by various other factors, among others the general development of industries and local economies, valuation multiples of peer companies and exchange rates. Helsinki, 6 February 2014 CAPMAN PLC Board of Directors Distribution: NASDAQ OMX Helsinki Principal media www.capman.com Further information: Heikki Westerlund, CEO, tel. +358 207 207 504 or +358 50 559 6580 Niko Haavisto, CFO, tel. +358 207 207 583 or +358 50 465 4125 Jerome Bouix, Head of Business Development and Investor Relations, tel. +358 20 720 7558 or +358 40 820 8541 CapMan www.capman.com CapMan Group is one of the leading private equity firms in the Nordic countries and Russia, with assets under management of approximately €3.1 billion. CapMan has five investment partnerships - CapMan Buyout, CapMan Russia, CapMan Credit, CapMan Public Market, and CapMan Real Estate - each of which has its own dedicated investment team and funds. Altogether, CapMan employs approx.100 people in Helsinki, Stockholm, Oslo, Moscow and Luxembourg. CapMan was established in 1989 and has been listed on the Helsinki Stock Exchange since 2001. [HUG#1759740]
CORRECTION: CapMan Group's Financial Statements Bulletin
Top 10 Most Recent News Articles
Scams vs Identity Theft: Trauma's Dark Impact Revealed
Facing the Dark Reality of Scams and Identity Theft Imagine facing a bleak financial horizon because of scams and identity theft, but the weight on your soul ain't about just numbers. That's what the Identity Theft Resource Center's 2026 Consumer Impact Report brings to light. We're talking about massive mental and emotional whirlwinds, way beyond mere dollars and cents....
Continue Reading
kidSTREAM Museum Welcomes Carina Reeves as New CEO
Carina Reeves Takes the Helm at kidSTREAM You know how it goes—sometimes you need fresh leadership to steer the ship. That's exactly what's happening over at kidSTREAM Children's Museum. They've appointed Carina Reeves as their President and CEO after a nationwide hunt. This ain't just another CEO shuffle; it marks a pivotal moment as kidSTREAM inches closer to its...
Continue Reading
FirstEnergy's New Tech to Bolster Pennsylvania Grid
Electricity Demand Spurs Grid Innovation The winds of change are blowing across Pennsylvania's power grid. FirstEnergy Transmission's (NYSE:FE) subsidiary, Keystone Appalachian Transmission Company (KATCo), is diving into a significant federally funded project to reinforce grid reliability. With electricity demand on an upward trajectory, Pennsylvania and beyond need...
Continue Reading
Infection Control Market Set for Explosive Growth by 2031
Untangling the Surge in Infection Control Demand Lately, it's like every healthcare joint worldwide is scrambling for better infection control. We're talking about a market poised to jump from a whopping USD 58.5 billion in 2026 to USD 80.2 billion by 2031—a tidy 37% uptick. That change, brewing at a 6.5% CAGR, speaks volumes about where the industry's heading. What's...
Continue Reading
Evotec SE to Release Q3 Results: What to Expect
Anticipation Builds Around Evotec's Q3 2026 Results It's that time again when everyone's tightening their belts in anticipation of another earnings feed. On November 5, Evotec SE is dropping their results for the first nine months of this whirlwind year. Right out of Germany, Hamburg, they're gearing up for a webcast and conference call where all eyes, or should I say...
Continue Reading
Ryde Group Faces Class Action: Key Investor Takeaways
Ryde Group's Tumble: More Than Just Market Volatility When RYDE shares nosedived like a lead balloon, it wasn't due to a market hiccup—it was a darn mess fueled by alleged manipulation. At the heart of this crash are accusations of a blatant pump-and-dump scheme that allegedly swindled investors out of millions. Pump-and-Dump: The Dirty Mechanics This ain't your regular...
Continue Reading
Life Time's Q3 2026 Results Highlight Solid Growth
Life Time Rolls On With Strong Q3 Performance Sometimes the market hands you pure gold, and that's what Life Time (NYSE: LTH) has right now. They didn't just have a decent quarter; they outright nailed it with a $893.5 million total revenue haul—a hefty 14.2% rise from the prior year. What's driving this ship? Solid growth in membership dues and dynamic personal...
Continue Reading
AskGamblers Unveils Tool for Casino Complaints
A Fresh Move in the Casino World AskGamblers has made a move that might just change the game for online bettors. They’ve rolled out a new casino complaints dashboard designed to revolutionize how players raise issues with casinos. Sure, the gambling world is no stranger to complaints, and it's about time someone in the sector paid attention to airing dirty laundry in a...
Continue Reading
Smirnoff Launches Marvel Event with $12.99 Offer
Smirnoff's Bold Move to Ride Marvel's Coattails Here we are, watching a vodka brand hitch its wagon to a Hollywood juggernaut. Smirnoff has announced a fan experience to toast Marvel Studios' "Avengers: Doomsday." Of course, this isn't just about clinking glasses; it's a marketing stunt dressed in superhero tights. The impressive part? They’re selling the razzmatazz for...
Continue Reading
SELCO and Numerica Unite: A Merger That's All Heart
Big Merger in Credit Union World: SELCO and Numerica Sometimes, it ain't all about dollars and cents. That's the vibe I'm picking up from this merger of equals between SELCO Community and Numerica Credit Unions. This isn't a Wall Street hustle, it's hometown hustle—where the biggest reward isn't just a fat line at the bottom but seeing your community thrive. The Vision...
Continue Reading