HKScan Oyj
Restatement for 2013
HKScan Oyj 28.04.2014 10:00 Dissemination of a Adhoc News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- HKScan Corporation Stock Exchange Release 28 April 2014, 11.00 AM Restatement for 2013 As of 1 January 2014 HKScan has adopted the new IFRS 10 (Consolidated Financial Statements) and IFRS 11 (Joint arrangements) standards. This means HKScan's results of the joint venture company in Poland and associated companies in Sweden are now recognised in a single line item in the consolidated Group operating profit (EBIT). Poland (Sokolów) is no longer reported as a separate segment in Group reporting. In addition costs incurred by of centralized Group services such as Group Technology and Operations Development are to be invoiced individual by Market Areas as of January 1, 2014. Previously these costs were reported in Group administration. Quarterly and full-year Group and Market Area financial information for 2013 has been restated accordingly. CONSOLIDATED INCOME STATEMENT PUBLISHED (EUR million) Q1/2013 Q2/2013 Q3/2013 Q4/2013 2013 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- NET SALES 590.8 623.7 623.5 640.6 2 478.6 -------------------------------------------------------------------------------- Operating income and expenses -573.8 -599.7 -595.8 -607.2 -2 376.5 -------------------------------------------------------------------------------- Share of associates' results 0.0 -0.3 0.1 0.2 0.0 -------------------------------------------------------------------------------- Depreciation and amortization -18.1 -17.9 -17.3 -18.3 -71.6 -------------------------------------------------------------------------------- EBIT -1.1 5.8 10.5 15.2 30.5 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Financial income 1.2 1.4 1.4 2.4 6.5 -------------------------------------------------------------------------------- Financial expenses -7.0 -7.0 -6.7 -10.0 -30.7 -------------------------------------------------------------------------------- Share of associates' results 0.9 0.9 0.7 0.9 3.4 --------------------------------------------- PROFIT/LOSS BEFORE TAXES -5.9 1.1 5.9 8.6 9.7 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Income tax 1.8 -0.7 1.1 -2.1 0.1 -------------------------------------------------------------------------------- PROFIT/LOSS FOR THE PERIOD -4.1 0.4 7.0 6.6 9.8 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- PROFIT/LOSS FOR THE PERIOD ATTRIBUTABLE TO: -------------------------------------------------------------------------------- Equity holders of the parent -4.2 0.6 6.7 5.6 8.7 -------------------------------------------------------------------------------- Non-controlling interests 0.1 -0.1 0.3 0.9 1.1 -------------------------------------------------------------------------------- Total -4.1 0.4 7.0 6.6 9.8 -------------------------------------------------------------------------------- RESTATEMENT (EUR million) Q1/2013 Q2/2013 Q3/2013 Q4/2013 2013 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- NET SALES 507.1 531.3 526.9 547.9 2 113.2 -------------------------------------------------------------------------------- Operating income and expenses -497.8 -515.4 -505.0 -521.3 -2 039.6 -------------------------------------------------------------------------------- Share of associates' results - - - - - -------------------------------------------------------------------------------- Depreciation and amortization -15.7 -15.5 -14.9 -15.8 -61.9 -------------------------------------------------------------------------------- EBIT -6.5 0.4 7.0 10.9 11.7 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Financial income 1.1 2.2 1.1 0.8 5.2 -------------------------------------------------------------------------------- Financial expenses -6.7 -7.4 -6.4 -8.4 -28.9 -------------------------------------------------------------------------------- Share of associates' results 5.4 5.1 3.6 4.5 18.6 -------------------------------------------------------------------------------- PROFIT/LOSS BEFORE TAXES -6.7 0.3 5.3 7.7 6.7 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Income tax 2.6 0.1 1.6 -1.2 3.1 -------------------------------------------------------------------------------- PROFIT/LOSS FOR THE PERIOD -4.1 0.4 7.0 6.6 9.8 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- PROFIT/LOSS FOR THE PERIOD ATTRIBUTABLE TO: -------------------------------------------------------------------------------- Equity holders of the parent -4.2 0.6 6.7 5.6 8.7 -------------------------------------------------------------------------------- Non-controlling interests 0.1 -0.1 0.3 0.9 1.1 -------------------------------------------------------------------------------- Total -4.1 0.4 7.0 6.6 9.8 -------------------------------------------------------------------------------- CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME PUBLISHED (EUR million) Q1/201 Q2/201 Q3/201 Q4/201 2013 3 3 3 3 -------------------------------------------------------------------------------- Profit/loss for the period -4.1 0.4 7.0 6.5 9.8 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- OTHER COMPREHENSIVE INCOME (after taxes): -------------------------------------------------------------------------------- Exchange differences on translating 0.0 -6.4 3.3 -0.3 -3.4 foreign operations -------------------------------------------------------------------------------- Cash flow hedging 1.3 1.6 1.3 -1.3 2.8 -------------------------------------------------------------------------------- Revaluation 0.0 0.0 0.0 0.0 0.0 -------------------------------------------------------------------------------- Actuarian gains (losses) on defined - - - 1.6 1.6 benefit pension plans -------------------------------------------------------------------------------- TOTAL OTHER COMPREHENSIVE INCOME 1.2 -4.8 4.6 0.0 1.0 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- TOTAL COMPREHENSIVE INCOME FOR THE PERIOD -2.9 -4.4 11.6 6.5 10.8 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- TOTAL COMPREHENSIVE INCOME FOR THE PERIOD ATTRIBUTABLE TO: -------------------------------------------------------------------------------- Equity holders of the parent -3.0 -4.2 11.3 5.6 9.7 -------------------------------------------------------------------------------- Non-controlling interests 0.1 -0.2 0.3 0.9 1.1 -------------------------------------------------------------------------------- Total -2.9 -4.4 11.6 6.5 10.8 -------------------------------------------------------------------------------- RESTATED (EUR million) Q1/201 Q2/201 Q3/201 Q4/201 2013 3 3 3 3 -------------------------------------------------------------------------------- Profit/loss for the period -4.1 0.4 7.0 6.5 9.8 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- OTHER COMPREHENSIVE INCOME (after taxes): -------------------------------------------------------------------------------- Exchange differences on translating -0.5 -6.7 3.3 0.6 -3.4 foreign operations -------------------------------------------------------------------------------- Cash flow hedging 1.3 1.6 1.3 -1.3 2.8 -------------------------------------------------------------------------------- Revaluation 0.0 0.0 0.0 0.0 0.0 -------------------------------------------------------------------------------- Actuarian gains (losses) on defined - - - 1.6 1.6 benefit pension plans -------------------------------------------------------------------------------- TOTAL OTHER COMPREHENSIVE INCOME 0.7 -5.2 4.6 0.9 1.0 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- TOTAL COMPREHENSIVE INCOME FOR THE PERIOD -3.4 -4.8 11.6 7.4 10.8 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- TOTAL COMPREHENSIVE INCOME FOR THE PERIOD ATTRIBUTABLE TO: -------------------------------------------------------------------------------- Equity holders of the parent -3.5 -4.6 11.3 6.5 9.7 -------------------------------------------------------------------------------- Non-controlling interests 0.1 -0.2 0.3 0.9 1.1 -------------------------------------------------------------------------------- Total -3.4 -4.8 11.6 7.4 10.8 -------------------------------------------------------------------------------- CONSOLIDATED BALANCE SHEET PUBLISHED (EUR million) 31.3.2013 30.6.2013 30.9.2013 31.12.2013 -------------------------------------------------------------------------------- ASSETS -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- NON-CURRENT ASSETS -------------------------------------------------------------------------------- Intangible assets 78.7 75.1 75.4 74.7 -------------------------------------------------------------------------------- Goodwill 102.4 100.7 101.1 100.9 -------------------------------------------------------------------------------- Tangible assets 497.4 482.2 482.8 478.7 -------------------------------------------------------------------------------- Shares in associates 35.6 34.0 34.9 29.4 -------------------------------------------------------------------------------- Trade and other receivables 6.0 4.7 5.6 3.5 -------------------------------------------------------------------------------- Available-for-sale investments 13.2 12.5 12.7 14.1 -------------------------------------------------------------------------------- Deferred tax asset 32.7 31.6 33.8 29.0 -------------------------------------------------------------------------------- NON-CURRENT ASSETS 766.0 740.8 746.2 730.3 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- CURRENT ASSETS -------------------------------------------------------------------------------- Inventories 190.7 188.2 195.4 168.8 -------------------------------------------------------------------------------- Trade and other receivables 225.2 219.8 203.9 180.8 -------------------------------------------------------------------------------- Income tax receivable 0.3 0.4 0.5 0.2 -------------------------------------------------------------------------------- Other financial assets - - - - -------------------------------------------------------------------------------- Cash and bank 28.2 32.4 38.3 74.9 -------------------------------------------------------------------------------- CURRENT ASSETS 444.3 440.7 438.2 424.6 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- ASSETS 1 210.3 1 181.5 1 184.5 1 154.9 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- EQUITY AND LIABILITIES -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- EQUITY 399.7 389.8 401.1 409.0 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- NON-CURRENT LIABILITIES -------------------------------------------------------------------------------- Deferred tax liability 28.5 28.3 28.8 27.0 -------------------------------------------------------------------------------- Non-current interest-bearing 305.5 149.0 151.3 260.1 liabilities -------------------------------------------------------------------------------- Non-current non-interest bearing 2,0 2.1 2.2 2.4 liabilities -------------------------------------------------------------------------------- Non-current provisions 0.1 0.1 0.1 0.1 -------------------------------------------------------------------------------- Pension obligations 9.3 6.6 4.9 9.0 -------------------------------------------------------------------------------- NON-CURRENT LIABILITIES 345.4 186.1 187.3 298.6 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- CURRENT LIABILITIES -------------------------------------------------------------------------------- Current interest-bearing 195.0 334.5 332.3 171.0 liabilities -------------------------------------------------------------------------------- Trade and other payables 268.7 268.8 260.2 273.4 -------------------------------------------------------------------------------- Income tax liability 0.9 1.4 1.7 2.0 -------------------------------------------------------------------------------- Current provisions 0.7 0.8 1.8 0.8 -------------------------------------------------------------------------------- CURRENT LIABILITIES 465.2 605.6 596.1 447.3 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- EQUITY AND LIABILITIES 1 210.3 1 181.5 1 184.5 1 154.9 -------------------------------------------------------------------------------- RESTATEMENT (EUR million) 31.3.2013 30.6.2013 30.9.2013 31.12.2013 -------------------------------------------------------------------------------- ASSETS -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- NON-CURRENT ASSETS -------------------------------------------------------------------------------- Intangible assets 78.1 74.5 74.8 74.2 -------------------------------------------------------------------------------- Goodwill 80.0 78.3 78.8 78.0 -------------------------------------------------------------------------------- Tangible assets 430.5 418.2 417.0 411.5 -------------------------------------------------------------------------------- Shares in associates 136.5 130.0 136.2 135.8 -------------------------------------------------------------------------------- Trade and other receivables 5.9 4.6 5.5 3.3 -------------------------------------------------------------------------------- Available-for-sale investments 13.1 12.4 12.6 14.1 -------------------------------------------------------------------------------- Deferred tax asset 30.8 29.8 31.9 27.3 -------------------------------------------------------------------------------- NON-CURRENT ASSETS 775.1 747.7 756.7 744.1 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- CURRENT ASSETS -------------------------------------------------------------------------------- Inventories 171.2 170.0 178.9 152.5 -------------------------------------------------------------------------------- Trade and other receivables 180.8 171.2 153.7 136.9 -------------------------------------------------------------------------------- Income tax receivable 0.3 0.4 0.6 0.1 -------------------------------------------------------------------------------- Other financial assets - - - - -------------------------------------------------------------------------------- Cash and bank 26.4 30.9 36.6 68.7 -------------------------------------------------------------------------------- CURRENT ASSETS 378.7 372.4 369.8 358.1 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- ASSETS 1 153.8 1 120.2 1 126.5 1 102.2 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- EQUITY AND LIABILITIES -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- EQUITY 400.3 389.6 401.4 409.0 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- NON-CURRENT LIABILITIES -------------------------------------------------------------------------------- Deferred tax liability 28.4 28.3 28.8 26.9 -------------------------------------------------------------------------------- Non-current interest-bearing 291.0 135.1 136.8 245.1 liabilities -------------------------------------------------------------------------------- Non-current non-interest bearing 1.2 1.4 1.2 1.1 liabilities -------------------------------------------------------------------------------- Non-current provisions 0.1 0.1 0.1 0.1 -------------------------------------------------------------------------------- Pension obligations 8.7 6.1 4.4 8.4 -------------------------------------------------------------------------------- NON-CURRENT LIABILITIES 329.4 170.8 171.2 281.6 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- CURRENT LIABILITIES -------------------------------------------------------------------------------- Current interest-bearing 184.7 320.0 319.6 159.3 liabilities -------------------------------------------------------------------------------- Trade and other payables 239.4 239.6 233.3 252.2 -------------------------------------------------------------------------------- Income tax liability 0.0 0.0 0.0 0.1 -------------------------------------------------------------------------------- Current provisions - - 1.0 0.0 -------------------------------------------------------------------------------- CURRENT LIABILITIES 424.2 559.7 553.9 411.6 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- EQUITY AND LIABILITIES 1 153.8 1 120.2 1 126.5 1 102.2 -------------------------------------------------------------------------------- CASH FLOW STATEMENT PUBLISHED (EUR million) Q1/201 Q1-Q2/201 Q1-Q3/201 2013 3 3 3 -------------------------------------------------------------------------------- Operating activities -------------------------------------------------------------------------------- Cash flow from operating activities -12.7 16.7 45.7 151.3 -------------------------------------------------------------------------------- Financial items and taxes -7.8 -8.0 -14.3 -20.1 -------------------------------------------------------------------------------- Net cash flow from operating activities -20.5 8.7 31.4 131.2 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Investments -------------------------------------------------------------------------------- Gross investments in property, plant and -9.1 -18.9 -35.0 -57.6 equipment -------------------------------------------------------------------------------- Disposals of property, plant and equipment 0.4 1.4 3.6 11.0 -------------------------------------------------------------------------------- Shares in associates purchased 0.0 0.0 0.0 -1.2 -------------------------------------------------------------------------------- Shares in associates sold 0.4 0.4 0.4 1.1 -------------------------------------------------------------------------------- Loan receivables borrowings and repayments 0.2 0.4 0.4 0.6 -------------------------------------------------------------------------------- Net cash flow from investing activities -8.2 -16.7 -30.6 -46.0 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Cash flow before financing activities -28.7 -8.0 0.8 85.2 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Financing activities -------------------------------------------------------------------------------- Current borrowings raised 15.0 29.2 37.4 12.9 -------------------------------------------------------------------------------- Current borrowings repaid -6.2 -28.6 -39.9 -195.5 -------------------------------------------------------------------------------- Non-current borrowings raised 0.1 0.8 0.8 130.8 -------------------------------------------------------------------------------- Non-current borrowings repaid -9.9 -10.1 -10.3 -11.3 -------------------------------------------------------------------------------- Dividends paid -0.1 -6.0 -6.0 -5.9 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Net cash flow from financing activities -1.0 -14.8 -18.0 -69.0 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Change in cash and cash equivalents -29.7 -22.8 -17.2 16.2 -------------------------------------------------------------------------------- RESTATEMENT (EUR million) Q1/201 Q1-Q2/201 Q1-Q3/201 2013 3 3 3 -------------------------------------------------------------------------------- Operating activities -------------------------------------------------------------------------------- Cash flow from operating activities -21.5 6.8 24.9 122.6 -------------------------------------------------------------------------------- Financial items and taxes -4.1 -1.6 -7.4 -11.8 -------------------------------------------------------------------------------- Net cash flow from operating activities -25.6 5.2 17.5 110.8 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Investments -------------------------------------------------------------------------------- Gross investments in property, plant and -6.9 -15.8 -32.8 -46.8 equipment -------------------------------------------------------------------------------- Disposals of property, plant and equipment 0.2 2.8 8.2 10.7 -------------------------------------------------------------------------------- Shares in associates purchased 0.0 0.0 0.0 -1.2 -------------------------------------------------------------------------------- Shares in associates sold 0.4 0.4 0.4 1.1 -------------------------------------------------------------------------------- Loan receivables borrowings and repayments 0.2 0.4 0.4 0.6 -------------------------------------------------------------------------------- Net cash flow from investing activities -6.1 -12.2 -23.7 -35.6 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Cash flow before financing activities -31.6 -7.0 -6.1 75.3 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Financing activities -------------------------------------------------------------------------------- Current borrowings raised -366.3 -361.2 -340.7 9.9 -------------------------------------------------------------------------------- Current borrowings repaid 369.6 350.5 333.6 -196.1 -------------------------------------------------------------------------------- Non-current borrowings raised -0.1 0.7 0.7 130.8 -------------------------------------------------------------------------------- Non-current borrowings repaid -0.1 -0.3 -0.4 -0.5 -------------------------------------------------------------------------------- Dividends paid -0.1 -6.0 -6.0 -5.9 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Net cash flow from financing activities 3.1 -16.3 -12.7 -61.8 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Change in cash and cash equivalents -28.6 -23.3 -18.9 13.5 -------------------------------------------------------------------------------- ANALYSIS BY SEGMENT Net sales and EBIT by Market Area, PUBLISHED (EUR million) Q1/2013 Q2/2013 Q3/2013 Q4/2013 2013 ----------------------------------------------------------------------- NET SALES ----------------------------------------------------------------------- - Finland 194.2 199.4 200.4 210.1 804.1 ----------------------------------------------------------------------- - Baltics 41.9 43.8 44.7 44.7 175.1 ----------------------------------------------------------------------- - Sweden 228.9 241.8 238.8 255.8 965.3 ----------------------------------------------------------------------- - Denmark 56.3 60.4 56.7 52.6 226.1 ----------------------------------------------------------------------- - Poland 85.5 96.0 99.2 94.3 375.1 ----------------------------------------------------------------------- - Between segments -15.9 -17.7 -16.3 -17.0 -67.0 ----------------------------------------------------------------------- Group total 590.8 623.7 623.5 640.6 2 478.6 ----------------------------------------------------------------------- ----------------------------------------------------------------------- EBIT ----------------------------------------------------------------------- - Finland -1.3 0.5 2.0 1.6 2.8 ----------------------------------------------------------------------- - Baltics 0.8 1.3 4.2 2.1 8.4 ----------------------------------------------------------------------- - Sweden -2.6 2.0 5.2 3.5 8.1 ----------------------------------------------------------------------- - Denmark -0.1 0.0 -1.4 6.4 4.9 ----------------------------------------------------------------------- - Poland 5.4 5.7 3.3 4.3 18.8 ----------------------------------------------------------------------- - Between segments - - - - - ----------------------------------------------------------------------- Segments total 2.2 9.5 13.4 17.9 43.0 ----------------------------------------------------------------------- ----------------------------------------------------------------------- Group administration costs -3.3 -3.6 -2.9 -2.7 -12.5 ----------------------------------------------------------------------- Group total -1.1 5.8 10.5 15.2 30.5 ----------------------------------------------------------------------- Net sales and EBIT by Market Area, RESTATEMENT (EUR million) Q1/2013 Q2/2013 Q3/2013 Q4/2013 2013 ----------------------------------------------------------------------- NET SALES ----------------------------------------------------------------------- - Finland 194.1 199.4 200.4 210.1 804.1 ----------------------------------------------------------------------- - Baltics 41.8 43.8 44.7 44.7 175.1 ----------------------------------------------------------------------- - Sweden 229.2 242.1 239.0 256.2 966.5 ----------------------------------------------------------------------- - Denmark 56.2 60.2 56.5 52.3 225.3 ----------------------------------------------------------------------- - Poland ----------------------------------------------------------------------- - Between segments -14.3 -14.2 -13.7 -15.5 -57.7 ----------------------------------------------------------------------- Group total 507.1 531.3 526.9 547.9 2 113.2 ----------------------------------------------------------------------- ----------------------------------------------------------------------- EBIT ----------------------------------------------------------------------- - Finland -1,2 0.6 2.1 1.7 3.2 ----------------------------------------------------------------------- - Baltics 0,6 1.1 4.1 1.9 7.7 ----------------------------------------------------------------------- - Sweden -2,9 2.2 5.1 3.5 8.0 ----------------------------------------------------------------------- - Denmark -0,3 -0.5 -2.0 6.4 3.6 ----------------------------------------------------------------------- - Poland - - - - - ----------------------------------------------------------------------- - Between segments - - - - - ----------------------------------------------------------------------- Segments total -3,7 3.5 9.3 13.5 22.5 ----------------------------------------------------------------------- ----------------------------------------------------------------------- Group administration costs -2,8 -3.0 -2.3 -2.6 -10.7 ----------------------------------------------------------------------- Group total -6,5 0.4 7.0 10.9 11.7 ----------------------------------------------------------------------- KEY FIGURES PUBLISHED Q1/2013 Q1-Q2/201 Q1-Q3/201 2013 3 3 -------------------------------------------------------------------------------- EPS, EUR -0.08 -0.07 0.06 0.16 -------------------------------------------------------------------------------- Cash flow before debt service (mEUR) -20.9 -0.7 13.8 103.4 -------------------------------------------------------------------------------- Cash Flow Before Financing Activities -28.7 -8.0 0.8 84.6 (mEUR) -------------------------------------------------------------------------------- Return on capital employed (ROCE) before 5.8 6.0 5.5 4.4 taxes, % -------------------------------------------------------------------------------- Net debt (mEUR) 472.2 451.2 445.3 355.7 -------------------------------------------------------------------------------- Net gearing % 118.0 115.7 111.0 87.0 -------------------------------------------------------------------------------- Equity ratio % 33.0 33.0 33.9 35.4 -------------------------------------------------------------------------------- RESTATEMENT Q1/2013 Q1-Q2/201 Q1-Q3/201 2013 3 3 -------------------------------------------------------------------------------- EPS, EUR -0.08 -0.07 0.06 0.16 -------------------------------------------------------------------------------- Cash flow before debt service (mEUR) -27.2 -5.6 0.6 86.8 -------------------------------------------------------------------------------- Cash Flow Before Financing Activities -31.8 -7.4 -6.6 74.7 (mEUR) -------------------------------------------------------------------------------- Return on capital employed (ROCE) before 4.0 taxes, % -------------------------------------------------------------------------------- Net debt (mEUR) 448.7 423.7 419.3 335.3 -------------------------------------------------------------------------------- Net gearing % 112.1 108.8 104.5 82.0 -------------------------------------------------------------------------------- Equity ratio % 34.7 34.8 35.6 37.1 -------------------------------------------------------------------------------- HKScan Corporation Hannu Kottonen CEO For further information: CFO Tuomo Valkonen, HKScan Corporation. Kindly submit a call-back request to Marjukka Hujanen, firstname.surname@hkscan.com tel. +358 10 570 6218 HKScan is the leading Nordic meat expert. We produce, market and sell high-quality, responsibly-produced pork, beef, poultry and lamb products, processed meats and convenience foods under strong brand names. Our customers are the retail, food service, industrial and export sectors, and our home markets comprise Finland, Sweden, Denmark, the Baltics and Poland. We export to close to 50 countries. In 2013, HKScan had net sales of EUR 2.5 billion and some 11 000 employees. DISTRIBUTION: Nasdaq OMX, Helsinki Main media www.hkscan.com News Source: NASDAQ OMX 28.04.2014 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: HKScan Oyj Finland Phone: Fax: E-mail: Internet: ISIN: FI0009006308 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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