NYAB Oyj

NYAB Plc’s transition to IFRS reporting – financial information for the first quarter of 2023

29.6.2023 15:35:01 EEST | NYAB Oyj | Company Announcement

NYAB Plc
COMPANY ANNOUNCEMENT
29.06.2023 at 15:35

NYAB Plc’s transition to IFRS reporting – financial information for the first quarter of 2023

NYAB Plc has transitioned from the Finnish Accounting Standards (FAS) to the International Financial Reporting Standards (IFRS). In this announcement, NYAB presents unaudited IFRS financial information for the first quarter of 2023. Significant effects of the transition have been presented in section “2. First-time adoption of IFRS standards” of the consolidated financial statements that were published on 29 June 2023. NYAB will publish its half-yearly report for period 1 January – 30 June 2023 in accordance with IFRS standards on 25 August 2023.

 

Key figures of the group (IFRS)

01–03/2023
(3 months)

01–03/2022
(3 months)

01–12/2022
(12 months)

Revenue, 1000 EUR

39,152

17,476

253,318

EBITDA, 1000 EUR

-648

-445

30,389

% of net sales

-1.7%

-2.5%

12.0%

EBITA, 1000 EUR

-1,537

-856

27,217

% of net sales

-3.9%

-4.9%

10.7%

Operating Profit (EBIT), 1000 EUR

-2,051

-858

25,744

% of net sales

-5.2%

-4.9%

10.2%

Profit for the period, 1000 EUR

-2,816

-1,017

23,320

Return on equity, previous 12 months, %

13.0%

not available

22.5%

Return on capital employed, previous 12 months, %

13.3%

not available

22.7%

Equity ratio, %

73.6%

73.1%

69.6%

Net gearing, %

5.7%

-1.4%

3.9%

Net debt/EBITDA, previous 12 months

0.33

not available

0.23

Free cash flow, 1000 EUR

-3,252

4,548

3,699

Order backlog, 1000 EUR

235,026

156,308

239,682

 

Consolidated statement of comprehensive income 1 January – 31 March 2023

EUR thousand

FAS

IFRS transition impact

IFRS

Revenue

39 152

0

39 152

Other operating income

94

0

94

Materials and services

-31 153

0

-31 153

Employee benefit expenses

-7 057

-318

-7 375

Depreciation and amortisation expense

-6 522

5 120

-1 403

Other operating expenses

-1 517

150

-1 366

Operating profit

-7 003

4 952

-2 051

Finance income

268

0

268

Finance expense

-568

-21

-589

Finance costs, net

-300

-21

-321

Share of the associate's profits (losses)

-399

203

-195

Profit before tax

-7 701

5 135

-2 567

Income tax expense

-354

105

-250

Profit for the period

-8 056

5 239

-2 816

Other comprehensive income

Items that may be reclassified subsequently to profit or loss

Change in cumulative translation adjustment

-319

-49

-368

Other comprehensive income for the year, net of tax

-319

-49

-368

Total comprehensive income

-8 375

5 190

-3 185

Consolidated balance sheet 31 March 2023

EUR thousand

FAS

IFRS transition impact

IFRS

ASSETS

Non-current assets

Goodwill

200 772

-79 586

121 186

Intangible assets

27

3 292

3 319

Tangible assets

14 996

-971

14 024

Right-of-use assets

0

3 253

3 253

Other non-current receivables and investments

16 325

203

16 529

Deferred tax assets

0

451

451

Total non-current assets

232 120

-73 358

158 762

Current assets

Inventories

1 467

0

1 467

Trade receivables

34 238

0

34 238

Contract assets

26 788

0

26 788

Other receivables

6 416

0

6 416

Cash and cash equivalents

13 572

0

13 572

Total current assets

82 481

0

82 481

TOTAL ASSETS

314 601

-73 358

241 242

 

 

 

 

EQUITY AND LIABILITIES

Equity attributable to owners of the parent company

Share capital

80

0

80

Reserve for invested unrestricted equity

273 235

-130 860

142 375

Translation adjustment

-319

-2 432

-2 752

Retained earnings

-18 684

56 508

37 824

Total equity

254 312

-76 784

177 528

Provisions

82

-82

0

Liabilities

Non-current liabilities

Non-current interest-bearing liabilities

17 028

-971

16 056

Lease liabilities

0

2 161

2 161

Deferred tax liabilities

3 109

1 108

4 217

Accrued expenses

0

102

102

Provisions

0

82

82

Total non-current liabilities

20 137

2 481

22 618

Current liabilities

Current interest-bearing liabilities

4 377

0

4 377

Lease liabilities

0

1 026

1 026

Contract liabilities

12 149

0

12 149

Trade and other payables

23 545

0

23 545

Total current liabilities

40 071

1 026

41 097

Total liabilities

60 207

3 507

63 715

TOTAL EQUITY AND LIABILITIES

314 601

-73 358

241 242

Consolidated statement of comprehensive income 1 January – 31 March 2022

EUR thousand

FAS

IFRS transition impact

IFRS

Revenue

11 613

5 863

17 476

Other operating income

718

-678

40

Materials and services

-8 622

-7 953

-16 576

Employee benefit expenses

-3 183

170

-3 013

Depreciation and amortisation expense

-1 364

952

-413

Other operating expenses

-1 513

3 141

1 628

Operating profit

-2 352

1 494

-858

Finance income

40

1

41

Finance expense

-177

51

-127

Finance costs, net

-137

52

-85

Share of the associate's profits (losses)

33

-33

0

Profit before tax

-2 456

1 512

-943

Income tax expense

-122

48

-74

Profit for the period

-2 578

1 561

-1 017

 

 

 

 

Other comprehensive income

 

 

 

Items that may be reclassified subsequently to profit or loss

 

 

 

Change in cumulative translation adjustment

0

-234

-234

Other comprehensive income for the year, net of tax

0

-234

-234

Total comprehensive income

-2 578

1 327

-1 251

 

Consolidated balance sheet 31 March 2022

EUR thousand

FAS

IFRS transition impact

IFRS

ASSETS

 

 

 

Non-current assets

 

 

 

Goodwill

220 377

-102 239

118 138

Intangible assets

562

9 842

10 404

Tangible assets

13 627

-543

13 084

Right-of-use assets

0

2 445

2 445

Other non-current receivables and investments

5 368

-743

4 626

Deferred tax assets

0

492

492

Total non-current assets

239 935

-90 746

149 188

Current assets

Inventories

2 860

-1 049

1 811

Trade receivables

19 001

0

19 001

Contract assets

27 616

0

27 616

Other receivables

403

0

403

Cash and cash equivalents

13 033

0

13 033

Total current assets

62 914

-1 049

61 865

TOTAL ASSETS

302 849

-91 795

211 054

 

EQUITY AND LIABILITIES

Equity attributable to owners of the parent company

Share capital

80

0

80

Other reserves

2 045

-2 045

0

Reserve for invested unrestricted equity

270 565

-131 315

139 250

Translation adjustment

2

-762

-759

Retained earnings

-22 355

38 166

15 812

Total equity

250 337

-95 954

154 383

 

Untaxed reserves

2 228

-2 228

0

Provisions

19

-19

0

 

Liabilities

Non-current liabilities

Non-current interest-bearing liabilities

7 451

-677

6 774

Lease liabilities

0

1 709

1 709

Deferred tax liabilities

0

4 589

4 589

Provisions

0

19

19

Total non-current liabilities

7 451

5 639

13 091

 

Current liabilities

Current interest-bearing liabilities

1 799

0

1 799

Lease liabilities

0

663

663

Contract liabilities

43

0

43

Trade and other payables

40 973

103

41 076

Total current liabilities

42 814

767

43 581

Total liabilities

50 266

6 406

56 672

TOTAL EQUITY AND LIABILITIES

302 849

-91 795

211 054

Contacts

Johan Larsson

CEO

NYAB Oyj

johan.larsson@nyabab.se

About NYAB Oyj

NYAB is a builder of a clean future with decades of experience in complex and demanding projects. We are enabling green transition in the Nordics by providing engineering, construction, and maintenance services to public and private sector clients regarding renewable energy and sustainable infrastructure. NYAB is headquartered in Oulu and it has more than 350 employees at different locations in Finland and Sweden.

NYAB Plc's Certified Adviser is Augment Partners AB, info@augment.se, phone +46 8 604 22 55.

Alternative languages

Attachments

Subscribe to our company announcements

Keep up to date with our company announcements by subscribing.

Visit our pressroom and see more company announcements from us.

Our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye