affecto oyj (AFE1V) Snapshot

Affecto Plc announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, net sales were EUR 34,393,000 against EUR 33,540,000 for the same period a year ago. Operating profit was EUR 2,037,000 against EUR 2,031,000 for the same period a year ago. Profit before income tax was EUR 2,064,000 against EUR 1,879,000 for the same period a year ago. Profit for the period attributable to owners of the parent company was EUR 1,547,000 against EUR 1,481,000 for the same period a year ago. Basic and diluted earnings per share were EUR 0.07 against EUR 0.07 for the same period a year ago. Net cash from operating activities was EUR 1,922,000 against EUR 2,610,000 for the same period a year ago. Acquisition of tangible and intangible assets was EUR 495,000 against EUR 410,000 for the same period a year ago. EBITDA was EUR 2,854,000 against EUR 2,866,000 for the same period a year ago. The company provided Earnings guidance for the full year 2013. Operating profit and net sales are estimated to grow in 2013.

The Finnish Agency for Rural Affairs has chosen Affecto to operate the Finnish Land Parcel Identification System for the next year. Karttakeskus Oy, the GIS service unit of Affecto, will be responsible for producing the IT system and maintaining the land parcel register. The cooperation between Affecto and the Finnish Agency for Rural Affairs has begun in 2000. The Finnish Agency for Rural Affairs and Affecto have had a three-year agreement for years 2008-2010, which agreement had an option for three additional years. The now agreed new period is the third option year. The value of this year's agreement is approx. €2.2 million. Paying farmers the support payments financed by European Union, requires the member states to ensure a reliable identification of land parcels. The basic idea of the Finnish Land Parcel Identification register is to guarantee that the support payments are paid by correct acreage.

Affecto Oyj, Q1 2013 Earnings Call, Apr 29, 2013