Olvi Oyj Proposes Distribution of Extra Dividends
Mar 24 15
The board of directors of Olvi Oyj proposed that the Annual General Meeting on 16 April 2015, would authorise the board to decide on the distribution of extra dividends. The extra dividend to be distributed on the basis of the authorisation, as an aggregate total of any separate decisions of distribution, can amount to a maximum of EUR 0.15 for each Series A and Series K share, in total a maximum of EUR 3,113,652.60. The board of directors shall decide on the record date of the dividend payment and the payment date, which may be no earlier than the fifth banking day after the record date.
Olvi Oyj Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for 2015; Proposes Dividend for 2014, Payable on April 30, 2014
Feb 25 15
Olvi Oyj reported consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, net sales were EUR 69,665,000 against EUR 70,043,000 a year ago. Operating profit was EUR 4,500,000 against EUR 5,483,000 a year ago. Earnings before tax taxes were EUR 3,730,000 against EUR 4,566,000 a year ago. Net profit attributable to parent company shareholders was EUR 3,662,000 or EUR 0.18 per diluted share against EUR 4,707,000 or EUR 0.23 per diluted share a year ago.
For the year, net sales were EUR 328,239,000 against EUR 327,256,000 a year ago. Operating profit was EUR 41,000,000 against EUR 43,221,000 a year ago. Earnings before tax taxes were EUR 41,053,000 against EUR 41,814,000 a year ago. Net profit attributable to parent company shareholders was EUR 32,522,000 or EUR 1.57 per diluted share against EUR 33,520,000 or EUR 1.61 per diluted share a year ago. Cash flow from operations was EUR 46,349,000 against EUR 50,009,000 a year ago. Investments in tangible and intangible assets were EUR 43,855,000 against EUR 31,975,000 a year ago.
The company estimates that the group's sales volume for 2015 will increase slightly and that net sales will be on a par with the previous year. Operating profit is expected to be on a par with 2014 or slightly decline, depending greatly on the stabilization of the Belarusian economy and exchange rate. Sales volumes in Belarus are expected to develop well.
The board of directors proposes to the annual general meeting that distributable funds be used as follows: A dividend of EUR 0.65 shall be paid for 2014 compared to EUR 0.65 in 2013 on each Series K and Series A share, totaling EUR 13.5 million compared to EUR 13.5 million in 2013. The dividend represents 41.4% of group's earnings per share. The dividend will be paid to shareholders registered in register of shareholders held by Euroclear Finland Ltd. on the record date of the dividend payment, 20 April 2015. It is proposed that the dividend be paid on April 30, 2014.
Olvi plc Appoints Kati Kokkonen as Chief Financial Officer and Member of the Management Group
Jan 12 15
Kati Kokkonen has been appointed new Chief Financial Officer and member of the Management Group of Olvi plc. Kati Kokkonen, who previously served Olvi plc as Business Controller, started in her new task on January 1, 2015. Kokkonen reports to Lasse Aho, Managing Director of Olvi plc. Kati Kokkonen has extensive experience in demanding management and expert tasks within the economics and financial field. Kokkonen transferred to the position of Business Controller at Olvi on January 7, 2014 from Management Consultant duties at Deloitte Oy. Kokkonen has previously worked as Financial Director at Enfo Oyj and CFO at Karelia Upofloor Ltd. Furthermore, she has served PriceyWaterhouseCoopers Oy and Rautaruukki Corporation as an IFRS expert.