Key figures

  As at and for the three months ended September 30, As at and for the nine
months ended September 30,
As at and for the
year ended December 31,
  2022 2022 2021 2021 2020
   
(unaudited)
(IFRS)
(unaudited, unless otherwise indicated)
  (EUR in thousands, unless otherwise indicated)
Revenue 67,405 240,208
219,343
311,464(1)
219,957(1)
Items affecting comparability(2) 1,144 -700 34
EBITDA(3) 10,317 56,440 39,308 62,236 11,340
EBITDA margin(4), percent 15.3 23.5 17.9 20.0 5.2
Adjusted EBITDA(5) 11,461 55,740 39,308 62,270 11,340
Adjusted EBITDA margin(6), percent 17.0 23.2 17.9 20.0 5.2
Operating profit (loss) 8,319 50,324 32,958 52,711(1) 2,233(1)
EBIT margin(7), percent 12.3 21.0 15.0 16.9 1.0
Adjusted EBIT(8) 9,463 49,624 32,958 52,745
2,233(1)
Adjusted EBIT margin(9), percent 14.0 20.7 15.0 16.9 1.0
Profit (loss) before income tax n/a 50,863 29,132 47,944(1) -4,360(1)
Profit (loss) for the period n/a 40,952 23,217 38,546(1) -3,979(1)
Earnings per Share, basic(10)(11), EUR n/a 2.34 1.44 2.32(1) -0.26(1)
Earnings per Share, diluted(10)(12), EUR n/a 2.34 1.44 2.32(1) -0.26(1)
Net cash flows from operating activities n/a 31,119 27,338 48,576(1) 4,241(1)
Net investments(13) n/a 16,568 8,140 9,632 3,589
Net investments as share of revenue, percent(14) n/a -5.0 n/a -3.1 -1.6
Cash flow before financing(15) n/a 17,686 19,198 28,954 518
Number of full time equivalent employees at the end of the period(16) n/a 865 858 931 865
Average number of full time equivalent employees during the period(17) n/a 863 990 909 892
Production volume(18), cubic meters n/a 362,728 405,928 533,456 472,078
Sales volume(19), cubic meters n/a 678,567 782,745 1,052,024 952,894

Key figure definitions

  1. Audited.
  2. Items affecting comparability are unusual material items outside the ordinary course of business that relate to (i) costs related to the Reorganization, (ii) impairment charges, (iii) the gain or loss from the sale of businesses or significant fixed assets and (iv) costs related to the contemplated Listing.
    Items affecting comparability is presented to reflect the underlying business performance of Koskisen and to enhance comparability between periods. Koskisen believes that items affecting comparability provide meaningful supplemental information by excluding items outside the ordinary course of business that reduce comparability between periods.
  3. EBITDA = Operating profit (loss) + Depreciation, amortization and impairments
    EBITDA is an indicator used to measure Koskisen’s performance.
  4. EBITDA margin, percent = (EBITDA/Revenue) × 100
    EBITDA margin is an indicator used to measure Koskisen’s performance.
  5. Adjusted EBITDA =EBITDA + Items affecting comparability
    Adjusted EBITDA is an indicator used to measure Koskisen’s performance. Adjusted EBITDA is presented in addition to EBITDA to reflect the underlying business performance and to enhance comparability between periods. Koskisen believes that adjusted EBITDA provides meaningful supplemental information by excluding items outside the ordinary course of business that reduce comparability between periods.
  6. Adjusted EBITDA margin, percent = (Adjusted EBITDA/Revenue) × 100
    Adjusted EBITDA margin is an indicator used to measure Koskisen’s performance. Adjusted EBITDA margin is presented in addition to EBITDA margin to reflect the underlying business performance and to enhance comparability between periods. Koskisen believes that adjusted EBITDA margin provides meaningful supplemental information by excluding items outside the ordinary course of business that reduce comparability between periods.
  7. EBIT margin, percent = (Operating profit (loss)/Revenue) × 100
    EBIT margin is an indicator used to measure Koskisen’s performance.
  8. Adjusted EBIT = Operating profit (loss) + Items affecting comparability
    Adjusted EBIT is an indicator used to measure Koskisen’s performance. Adjusted EBIT is presented in addition to operating profit (loss) to reflect the underlying business performance and to enhance comparability between periods. Koskisen believes that adjusted EBIT provides meaningful supplemental information by excluding items outside the ordinary course of business that reduce comparability between periods.
  9. Adjusted EBIT margin, percent = (Adjusted EBIT/Revenue) × 100
    Adjusted EBIT margin is an indicator used to measure Koskisen’s performance. Adjusted EBIT margin is presented in addition to EBIT margin to reflect the underlying business performance and to enhance comparability between periods. Koskisen believes that adjusted EBIT margin provides meaningful supplemental information by excluding items outside the ordinary course of business that reduce comparability between periods.
  10. The earnings per Share, basic, and earnings per Share, diluted, figures for the nine months ended September 30, 2022 and 2021, and for the years ended December 31, 2021 and 2020, have been adjusted retrospectively for the effects of the share issue without consideration as resolved by the extraordinary general meeting of shareholders of the Company as at October 31, 2022. The earnings per Share, basic, and earnings per Share, diluted, figures for the nine months ended September 30, 2021, and for the years ended December 31, 2021 and 2020, have been adjusted retrospectively for the effects of the proportion without consideration of the directed share issue as resolved unanimously by the shareholders of the Company as at August 25, 2022, and for the share issue without consideration as resolved by the extraordinary general meeting of shareholders of the Company as at April 26, 2022. Taking into account the above mentioned share issues, the number of Shares used to calculate earnings per Share, basic, and earnings per Share, diluted, for the nine months ended September 30, 2022, was 14,850,92] and the number of Shares used to calculate earnings per Share, basic, and earnings per Share, diluted, for the nine months ended September 30, 2021, and for the years ended December 31, 2021 and 2020, was 12,600,000. As of 21st Nov 2022 the number of shares was 17,779,606.
  11. Earnings per Share, basic, EUR = (Profit (loss) for the period attributable to owners of the parent company / Weighted average number of ordinary Shares outstanding during the period )
    Earnings per Share, basic, reflects the distribution of Koskisen’s results to its shareholders.
  12. Earnings per Share, diluted, EUR = ( Profit (loss) for the period attributable to owners of the parent company / Weighted average number of ordinary Shares outstanding during the period + [Weighted average number of all dilutive instruments potentially to be converted into Shares] )
    Earnings per Share, diluted, reflects the distribution of Koskisen’s results to its shareholders.
  13. Net investments = Purchases of property, plant and equipment and intangible assets – Proceeds from sale of non current assets
    Net investments is a measure used to assess Koskisen’s investments to right-of-use assets and intangible assets.
  14. Net investments as share of revenue, percent = (Net investments/Revenue (last 12 months)) × 100
    Net investments as share of revenue is a measure used to assess the amount of Koskisen’s net investments as a share of revenue.
  15. Cash flow before financing = Net cash flows from operating activities + Net cash flows from investing activities
    Cash flow before financing reflects the amount of cash flow Koskisen generates or uses from carrying out its operating and investing activities.
  16. Number of full time equivalent employees at the end of the period = Total number of hours worked by Koskisen’s employees at the end of the period /The total number of scheduled hours for a full time employee at the end of the period
    Number of full time equivalent employees at the end of the period presents the number of Koskisen’s full time equivalent employees at the end of the period.
  17. Average number of full time equivalent employees during the period = Total number of hours worked by Koskisen’s employees during the period / The total number of scheduled hours for a full time employee during the period
    Average number of full time equivalent employees during the period presents the average number of Koskisen’s full time equivalent employees during the period.
  18. Production volume, cubic meters = Volume of finished goods produced during the period.
    Production volume reflects the level and development of Koskisen’s production volume.
  19. Sales volume, cubic meters = Volume of finished goods sold during the period.
    Sales volume reflects the level and development of Koskisen’s sales volume.