Financial performance during January-December 2014

CONSOLIDATED INCOME STATEMENT (MEUR)	1–12/2014 12 MONTHS	1–12/2013 12 MONTHS
Continuing operations
Net sales	224.1	199.3
Operating profit / loss	16.8	8.1
Financial income and expenses	-1.3	-0.9
Result before tax	15.5	7.2
Result for the period from Continuing Operations	12.3	6.7
Result for the period from Discontinuing Operations	0.2	24.3
Result for the Period	12.5	30.9
Total Comprehensive Income for the Period	12.9	30.9

Result for the period attributable to:
Equity holders of the parent	12.5	30.9
Total comprehensive income for the period attributable to:
Equity holders of the parent	12.9	30.9

Earnings per share from Continuing Operations, EUR	0.093	0.051

Cash flow from operating activities was EUR 10.5 million (EUR 34.7 million, in 2013).
Net cash flow was EUR 0.3 million (EUR 28.7 million, in 2013, including non-recurring net cash flow of about EUR 28 million resulting from the sale of the Test Tools product business and the repayment of capital of EUR 14.3 million, distributed in December 2013).
Equity ratio was 62.3% (65.1%, December 31, 2013).
Net gearing was -37.4% (-46.1%, December 31, 2013).

Quarterly figures

ELEKTROBIT GROUP'S NET SALES AND OPERATING RESULT, MEUR	4Q 14	3Q 14	2Q 14	1Q 14	4Q 13
Net sales	67.8	52.5	52.2	51.7	59.5
Operating profit (loss)	7.2	4.6	3.1	1.9	5.7
Operating profit (loss) without non-recurring costs	7.8	3.5	3.1	1.9	5.7
Result before taxes	6.5	4.2	2.8	1.9	5.5
Result for the period	6.4	2.6	1.8	1.7	5.0

Non-recurring items are exceptional gains and costs that are not related to normal business operations and occur only seldom. These items include capital gains or losses, significant changes in asset values such as write-downs or reversals of write-downs, significant restructuring costs, or other items that the management considers to be non-recurring. When evaluating a non-recurring item, the euro translation value of the item is considered, and in case of a change in an asset value, it is measured against the total value of the asset.

In 2014 the result of Wireless Business Segment reported non-recurring items as follows:

Non-recurring income of approximately EUR 1.1 million resulting from the reorganization cases of TerreStar companies during the third quarter of the year
Non-recurring costs of EUR 0.6 million resulting from Wireless Business Segment´s personnel layoffs and from the acquisition costs of SafeMove during the last quarter

NET SALES AND OPERATING PROFIT DEVELOPMENT BY BUSINESS SEGMENTS AND OTHER BUSINESSES, CONTINUING OPERATIONS, MEUR	4Q 14	3Q 14	2Q 14	1Q 14	4Q 13
Automotive
Net sales to external customers	51.6	42.5	39.8	37.5	41.1
Net sales to other segments	0.0	0.0	0.0	0.0	0.0
Operating profit (loss)	5.4	3.5	4.2	2.9	5.4

Wireless
Net sales to external customers	16.1	10.0	12.4	14.2	18.3
Net sales to other segments	0.2	0.1	0.0	0.0	0.0
Operating profit (loss)	2.0	1.1	-0.9	-1.1	0.3

Other businesses
Net sales to external customers	0.0	0.0	0.0	0.0	0.0
Operating profit (loss)	-0.2	-0.0	-0.2	0.1	0.0

Total
Net sales	67.8	52.5	52.2	51.7	59.5
Operating profit (loss)	7.2	4.6	3.1	1.9	5.7

THE DISTRIBUTION OF NET SALES BY MARKET AREAS, MEUR AND %	4Q 14	3Q 14	2Q 14	1Q 14	4Q 13
Asia	2.1 3.1%	2.6 5.0%	1.8 3.5%	2.5 4.9%	2.3 3.9%
Americas	10.1 14.9%	7.6 14.5%	6.6 12.7%	7.2 13.8%	8.0 13.4%
Europe	55.6 82.0%	42.3 80.6%	43.8 83.8%	42.0 81.3%	49.2 82.7%

^{The 2013 figures presented in comparison in this Report by Board of Directors include the figures of Continuing Operations only.}