ARCHIVE 2003

Aldata Solution Oyj Financial Statements for 2002

* Aldata’s net sales was 65.6 MEUR (67.6) and operating profit 4.7 MEUR (4.6) in 2002
* Net sales in fourth quarter of 2002 were 20.1 (17.8) MEUR and operating profit 2.7 (1.1) MEUR
* In 2002 net sales for the supply chain software business area grew 38 % and the operating profit
31% compared to 2001
* In 2003 Aldata’s result is expected to maintain its positive trend and sales of the G.O.L.D. Supply Chain Management (SCM)software should continue to grow

Net sales and profitability rose significantly in the final quarter of 2002

During the final quarter of 2002 Aldata Group had net sales of 20.1 (17.8)MEUR, and the SCM business area accounted for 13.4 MEUR of this. The consolidated operating profit in the final quarter was 2.7 (1.1) MEUR and SCM contributed 2.4 MEUR (1.3) to this. In the final quarter of 2002 the Group’s gross profit was 14.1 (12.9) MEUR. The operating profit before goodwill amortization was 3.0 (1.4) MEUR. The profit before extraordinary items rose to 2.5 (1.5) MEUR.
Aldata Group’s profitability remained healthy in 2002

Aldata Group had net sales of 65.6 (67.6) million. The 2001 net sales figures for comparison include 4.6 MEUR from E-Business operations for the whole year and 1.9 MEUR from Barcode operations for four months. Retail Supply Chain Management software accounted for 56.5 % (39.8 %) of Group net sales, In-store software for 32.1 % (39.6 %), Security Systems for 10.0 % (13.8 %) and E-Business for 1.4 % (6.8 %). Software licenses and maintenance accounted for 22.2 % (22.5 %) of 2002 net sales, services for 59.5 % (51.8 %) and third party licenses and hardware for 18.3 % (25.7 %).

Aldata maintained its profitability in 2002 despite that the E-Business operations, Melior unit and the Norwegian subsidiary, which together totalled an operating loss of -2.6 MEUR, were divested. In 2003 these operations and their losses will no longer affect the company’s result.

The company’s gross profit rose 2.7 % in 2002 to 49.2 (47.9) MEUR. The Group’s operating profit before goodwill amortization increased 17.5 % to 6.8 (5.8) MEUR. The operating profit was 4.7 (4.6) MEUR and the profit before extraordinary items was 4.6 (5.1) MEUR. The earnings per share were 0.028 (0.042) euro, the return on investment was 20.1 % (21.9 %) and the return on equity 9.8 % (14.9 %) in 2002.

Aldata’s financial position remained strong

The balance sheet total at the end of 2002 stood at 48.3 (41.8) MEUR. Short-term receivables totalled 27.0 MEUR, compared to 20.8 MEUR at the end of 2001. Short-term receivables include a receivable of 2.0 MEUR from Grand Vision S.A., for software already supplied to Grand Vision and for services. The company continues to negotiate about terminating the delivery project with Grand Vision S.A. After the evaluation of the matter with the auditors and lawyers of the company no provision has been made in 2002 to the financial statements in relation to the receivable. The receivable includes 0.3 MEUR in value-added tax.

Aldata Group’s cash, cash equivalents and marketable securities totalled 8.5 (11.8) MEUR at the end of 2002. The change was mainly effected by the investments during 2002 to the payments made for the acquisition of the subsidiary shares. The group's solvency ratio stood at 51.7 % (57.1 %), gearing at -28.8 (-41.1) and shareholder's equity per share was 0.359 (0.352) euro.