Financials

In 2016 DNA's net sales increased to EUR 858.9 million and profitability improved significantly.

Key figures

With the tool below, DNA's key financial figures can be analyzed. Information from the tool can be downloaded in .csv, .pdf or .png format.

DNA’s outlook for 2017

DNA's net sales are expected to remain at a same level and the comparable operating result is expected to improve somewhat in 2017 compared to 2016. The Group’s financial position and liquidity is expected to remain at a healthy level.

 

DNA’s has set the following mid-term financial targets:

  • Revenue growth faster than average market growth;
  • EBITDA margin of at least 30 per cent;
  • Operative capital expenditure less than 15 per cent of net sales (excluding potential fees for spectrum licenses);
  • Net debt to EBITDA less than 2.0, which can be temporarily exceeded in case of potential attractive bolt-on in-market M&A opportunities.

Financing

Key figures on June 30, 2017

Net debt, MEUR  358.3
Net debt/EBITDA  1.34 (12 month adjusted)
Net gearing, %  63.6 
Equity ratio, %  47.5 
Average interest of the loan portfolio, %  2.1

 

At present, DNA does not have a credit rating.

More information on the management of credit risks in note 3 to financial statements >>

Primary sources of financing, 30 June 2017

EUR 70 million Danske, Nordea, Pohjola, SHB & SEB
EUR 100 million Bond I, coupon rate 2.625%
EUR 150 million Bond II, coupon rate 2.875%
EUR 27 million EIB
EUR 45 million Commercial papers

Financing reserves

Amount Utilised
Revolving credit facility of EUR 150 million Fully undrawn
Commercial paper programme of EUR 150 million EUR 45 million drawn

DNA’s financial covenants

Equity ratio:
30 June, 2017: 47.5 %
Limit: 35.0 %

Net debt / EBITDA (rolling 12 months):
30 June, 2016: 1.43
Limit: 3.50

Formulas for calculating key figures

 
Equity per share (EUR) = Equity attributable to equity holders of the parent company
Outstanding shares at the end of the period
 
Interest bearing net debt (EUR) = Long-term and short-term borrowings – liquid assets
 
Net gearing, % = Long-term and short-term borrowings – liquid assets
Total equity
 
Equity ratio, % = Equity
Total assets – advances received
 
EBITDA (EUR) = Operating result + depreciation and impairment charges
 
Return on investment (ROI), %* = Profit before tax + interest and other financial expenses
Total equity + long-term and short-term borrowings
 

Return on equity (ROE), %

= Profit for the financial period
Total equity (average during the year)
 
Interest bearing net debt/EBITDA* = Interest bearing net debt
Operating result + depreciation and impairment charges
 
Comparable EBITDA (EUR) = EBITDA excluding items affecting comparability
 
Comparable operating result, EBIT (EUR) = Operating result, EBIT excluding items affecting comparability
 
Items affecting comparability = Items affecting comparability being material items outside ordinary course of business such as net gain or losses from business disposals, direct transaction costs related to business acquisitions, write-off of non-current assets, costs for closure of business operations and restructurings, fines or other similar payments, damages as well as costs related to a one time study on the Company's strategic alternatives to grow its shareholder base and costs related to the strategic assessment work of the Board of Directors.
 
Cashflow after investing activities (EUR) = Net cash generated from operating activities + net cash used in investing activities
 
Capital expenditure (EUR) = Capital expenditure comprise additions to property, plant and equipment and intangible assets excluding business acquisitions, gross acquisition cost of spectrum license and additions through finance leases and asset retirement obligations and including annual cash instalments for the spectrum license.
 
Free Cash Flow to Equity (FCFE) = Comparable EBITDA – total capital expenditure excluding the annual cash instalment for spectrum licenses - change in net working capital including an adjustment between operative capex and cash-based capex in order to present FCFE on a cash basis, however excluding cash instalments for spectrum licenses and adjusted with the items affecting comparability - net interest paid - income taxes paid - change in provisions
     

*Adjusted to 12 months