Aldata Solution Oyj, Stock Exchange Release, 16 May 2012 at 6.30 p.m. (EET) ALDATA SOLUTION OYJ: INTERIM MANAGEMENT STATEMENT FOR JANUARY 1 - MAY 16, 2012 (UNAUDITED) Aldata's net sales for continuing operations for January 1, 2012 to March 31, 2012 was EUR 13.9 million (EUR 14.2 million), with an operating profit, EBIT, of EUR -1.0 million (EUR -0.5 million). Operating profit, EBIT, in 2012 includes a one off cost of EUR 0.3 million for the costs of provision for empty office space in Espoo following the sale of Aldata Solution Finland Oy. Aldata's reported order backlog includes product and third party product sales that will be recognized as revenues during the following twelve months. At the end of March 2012, the order backlog was EUR 26.6 million (EUR 23.5 million) with the majority of the improvement resulting from a significant and strategic customer agreement made in the US. Supply Chain Management Software business Net sales of the Supply Chain Management (SCM) Software business unit were EUR 10.4 million (EUR 11.3 million). The operating profit, EBIT, was EUR -0.3 million (EUR 0.2 million). The decrease in revenue is being driven by the difficulty in closing forecasted large deals, which reflects the difficult business climate that we operate in. In periods of uncertainty companies tend to be less willing to commit to large capital expenditure or start new projects for fear of negatively impacting operations if the project were to be unsuccessful. Long-term decisions tend to be subject to closer scrutiny and increased attention given to ROI calculations and payback justifications. This is likely to delay the decision making process, and may even cause certain projects to be put on hold for an indeterminate period. This is largely what we have experienced in the first quarter. Category Optimization business Net sales of the Category Optimization business unit were EUR 2.6 million (EUR 2.2 million). The operating profit, EBIT, was EUR 0.1 million (EUR 0.0 million). Aldata has invested in developing an ACO business segment with the acquisitions of products in the space and range areas together with developing our own products and this is being rewarded in our continued revenue growth in the ACO business. The increase in revenue is coming mainly from pure license sales and comes from all geographies and product sets. Mid-Size Market business Net sales of the Mid-Size Market business unit were EUR 0.9 million (EUR 0.6 million). The operating profit, EBIT, was EUR -0.1 million (EUR -0.3 million). The improved performance comes from increased license and services demand from a small number of key customers. There were no internal sales between the Group's business segments. Unallocated costs, the Group's shared items netted, decreased the Group's operating profit, EBIT, by EUR 0.7 million (EUR 0.5 million). These costs include EUR 0.3 million of one-off costs related to a provision for empty office space in Espoo. The operating profit, EBIT, for January 1, 2012 to March 31, 2012 for the discontinued operations totals EUR 6.3 million (EUR 0.6 million). This includes both the operating results of the divested subsidiary together with the gain on the divestiture. Outlook Given the current uncertainty in the retail market and the difficulty in accurately forecasting the market behavior, Aldata expects the full year 2012 net sales to decrease significantly from the level reported in 2011 and operating profit excluding non-recurring items to decrease in 2012 from the level reported in 2011. Major Events during January 1 - May 16, 2012 In February 2012, Aldata submitted an application to terminate the trading in the Aldata shares and to delist all the Aldata shares from the official list of NASDAQ OMX Helsinki Ltd. In the application Aldata requested that the quotation of the Aldata shares on the official list of NASDAQ OMX Helsinki be terminated as soon as possible upon Symphony Technology II-A, L.P ("Symphony") having gained title to all the shares in Aldata. The application was made as Symphony owned approximately 90.1 per cent of all the shares and votes in the Company and had initiated minority redemption proceedings in order to acquire all the remaining Aldata shares held by the minority shareholders. Later in February 2012, Aldata announced that the Arbitral Tribunal appointed by the Redemption Committee of the Central Chamber of Commerce had confirmed that Symphony has the right to redeem the minority shares in Aldata and that Symphony has the right to obtain title to the minority shares by lodging a security approved by the Arbitral Tribunal for the payment of the redemption price and the interest accruing thereon. In March 2012, Aldata announced that it had closed the agreement to sell its local Finnish subsidiary, Aldata Solution Finland Oy (Aldata Finland) to Solteq Oyj, a Finnish provider of Retail and ERP software. Solteq Oyj bought all the shares of Aldata Finland for a purchase price of approximately EUR 8.3 million. The purchase price was paid in full by bank transfer on completion. In April 2012, Aldata announced that it had signed a credit facility agreement with Silicon Valley Bank for a credit facility of EUR 5.0 million. The facility was for a 2 year period and is based on the European arms-length commercial interest conditions. This new facility replaced the old facility that was refunded at the end of March 2012 as per the agreed terms of how the old facility should be repaid following the breach in the change in control clause of that agreement. Symphony arranged for a guarantee to be provided for the new facility, which was a prerequisite of Silicon Valley Bank when granting the facility. Together with the proceeds received from the sale of Aldata's Finnish subsidiary in March 2012, this facility will help Aldata address its liquidity issues and fund the Company's ongoing working capital needs. In April and May 2012, Aldata announced changes to the Company's Corporate Management Team, with the appointments of Michael Todd Sanders as the Chief Financial Officer, Patrick Buellet as the Chief Technology Officer and Graeme Cooksley as the Head of Europe. Each individual reports to the CEO, Roy Simrell. On May 4, 2012 Aldata announced that the Arbitral Tribunal appointed by the Redemption Committee of the Central Chamber of Commerce of Finland has in its award rendered confirmed that the redemption price for the minority shares in the Company is EUR 0.61 per share. Symphony will pay the redemption price together with the interest payable thereon, to the minority shareholders no later than within one month from the effective date of the arbitral award. Ownership to the minority shares will pass to Symphony upon the payment of the redemption price, after which public trading in the Aldata shares will be terminated. On May 7, 2012 Aldata announced its decision to move to the publication of an interim management statement instead of publishing an interim report for the first three and nine months of the financial year. Aldata considered that publishing an interim management statement is more suitable than publishing an interim report considering that Aldata's share will be delisted in the near future. The Finnish Financial Supervisory Authority granted Aldata an exemption from the obligation to publish before the beginning of the financial year the fact that Aldata will not publish an interim report for the first three and nine months of the year. In addition, the Finnish Financial Supervisory Authority granted Aldata an exemption from the obligation to publish an interim report for the period 1 January - 30 June 2012 provided that the company will be delisted prior to 31 August 2012, as well as an exemption from the obligation to publish an interim management statement during the second six months of the financial year 2012 provided that Aldata has been delisted six weeks before the end of the financial year at the latest. The share of Aldata is expected to be delisted in July-August 2012. Aldata Solution Oyj Further information: Investor relations, tel. +358 10 820 8000 About Aldata Aldata is a global leader in retail and distribution optimization. Our software and service solutions help retailers, distributors and manufacturers dramatically improve their business performance. We optimize categories, space, supply, logistics, and consumer engagement to increase our customers' revenue and margins, reduce time, cost and waste, and enhance on-shelf availability, service, and retention. Founded in 1988, Aldata has an unparalleled track record of delivering successful projects for the world's largest retail and consumer brands, national wholesale and distribution organizations, and regional store chains. Aldata Solution is a public company quoted on NASDAQ OMX Helsinki Ltd with the identifier ALD1V. Discover more about Aldata's customers, our solutions, and the multi-skilled global team that supports them at www.aldata.com Distribution: NASDAQ OMX Helsinki Ltd Media www.aldata.com [HUG#1612938]
ALDATA SOLUTION OYJ: INTERIM MANAGEMENT STATEMENT FOR JANUARY 1 - MAY 16, 2012 (UNAUDITED)
| Quelle: Aldata Solution Oyj