Innofactor publishes new financial figures for 2017 adjusted for the effects of the new IFRS 15 standard

07.05.2018 08:30 EEST (UTC +3)

Innofactor Plc Stock Exchange Release May 7, 2018, at 08:30 Finnish time


Innofactor has implemented the IFRS 15 Revenue from Contracts with Customers standard starting from January 1, 2018, and will prepare its new financial reports in accordance with the new standard starting from the interim report for January–March 2018 that will be published on May 8, 2018.

The IFRS 15 standard affects the timing of the net sales from software licenses sold by Innofactor in cases where the software licenses are sold in connection with a project delivery. The effect of the IFRS 15 standard on the adjusted net sales and operating margin for 2017 is EUR -422 thousand (Q1/2017: -265, Q2/2017: -303, Q3/2017: +196, and Q4/2017: -50).

Innofactor's adjusted financial figures for 2017 will form the comparison data for the quarterly reports in 2018. The adjusted financial figures have not been audited.


Consolidated Profit and Loss Statement by Quarter, IFRS

Earnings per share calculated from the profit attributable to equity holders of the parent:

basic earnings per share (EUR) 0.0020 -0.0051 -0.0314 -0.0002 -0.0262
diluted earnings per share (EUR) 0.0020 -0.0051 -0.0314 -0.0002 -0.0262


Consolidated Balance Sheet, IFRS

Assets

Shareholder's equity and liabilities

 

Consolidated Cash Flow Statement, IFRS

The estimate of the effect of the IFRS 15 standard to the net sales and operating margin in 2018 has been updated, and it is estimated to be approximately EUR 0.4–0.6 million (previous estimate EUR 0.5–1.0 million), which would be transferred in its entirety to 2019. Applying the IFRS 15 standard has no effect on Innofactor's long term financial goals.

Additional information on applying the IFRS 15 standard and its effects on Innofactor can be found in the Finnish Annual Report 2017, pages 56–57. The English version of the Annual Report will be published during May at https://www.innofactor.com/invest-in-us/releases-publications-and-reports/.


Espoo, May 7, 2018

INNOFACTOR PLC

Sami Ensio, CEO


Additional information:
Marko Lehtonen, CFO
Innofactor Plc
Tel: +358 50 575 2006
marko.lehtonen@innofactor.com

Distribution:
NASDAQ Helsinki
Main media
www.innofactor.com


Innofactor

Innofactor is a leading Nordic provider of digitalization and cloud solutions. Innofactor has Microsoft Ecosystem's leading expertise and the most comprehensive offering in the Nordics. Innofactor has over 600 eager and motivated top professionals in Finland, Sweden, Denmark and Norway. Innofactor serves over 1,500 commercial, public, and third sector organizations. In 2013 to 2017, the annual growth of Innofactor's net sales has been approximately over 20%. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ Helsinki Ltd. www.innofactor.com

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