At the end of the reporting period, Digia Group’s consolidated balance sheet total stood at EUR 92.4 million (12/2011: EUR 87.8 million), and the equity ratio was 52.6 (47.8) per cent. Net gearing was 27.5 (34.5) per cent. Period-end cash and cash equivalents totalled EUR 8.3 (8.2) million.
Interest-bearing liabilities amounted to EUR 19.8 (21.9) million at the period end. These consisted of EUR 18.5 million in loans from financial institutions and EUR 1.3 million in financial leasing liabilities.
To finance its Qt business acquisition, Digia took out EUR 4.0 million in a long-term loan on 17 September 2012. The loan covenants of the financing package agreed in 2011 remained unchanged. The loan covenants related to the company’s solvency and liquidity comprised the following key figures: operating profit before depreciation and amortisation (EBITDA) in relation to net debt, equity ratio and net gearing. The company may distribute a maximum of 50 per cent of the Group’s net profit for the year without separate agreement. The company fulfilled the set loan covenants in 2012. Further information on financing loans is presented in Note 22 to the financial statements.
The Group carries out quarterly impairment testing of goodwill and intangible assets with an indefinite useful life. Impairment testing is described in more detail in the notes to the financial statements, under Note 15 ‘Intangible assets’.
The company has financing, framework and delivery agreements with special terms and conditions for any situation in which control of the company changes hands.
The Group's cash flow from business operations for 2012 was positive by EUR 19.9 (8.8) million, cash flow from investments was negative by EUR 16.2 (2.7) million and cash flow from finance was negative by EUR 3.6 (7.6) million. Billing of EUR 12.2 million from Nokia in relation to the Qt acquisition deal had a positive impact on operational cash flow. Cash flow from finance was negatively affected by a repayment of loans totalling EUR 5.5 million, as well as by the payment of dividends with a total effect of EUR 2.1 million. Additionally, a long-term loan of EUR 4.0 million was taken out for the Qt acquisition.
The Group’s total investments into fixed assets were EUR 0.8 (2.7) million. Acquisitions of tangible fixed assets totalled EUR 0.7 (2.3) million.
Return on investment (ROI) for the financial year was 11.3 (-28.7) per cent and return on equity (ROE) was 9.8 (-41.9) per cent.