| SEK 000 |
2007 |
2006 |
2005 |
2004 |
2003 |
|
Transaction revenues |
661,709 |
388 370 |
253 182 |
201 056 |
147 586 |
| Other operating revenues |
27 335 |
8 668 |
4 786 |
5 751 |
6 506 |
Total operating revenues
|
689 044 |
397 038 |
257 968 |
206 807 |
154 092 |
| Transaction expenses |
–313 207 |
–161 287 |
–99 100 |
–73 435 |
–58 696 |
| Personnel expenses |
–121 778 |
–85 914 |
–59 496 |
–55 918 |
–57 741 |
| Other operating expenses |
–83 840 |
–59 882 |
–58 346 |
–50 920 |
–54 693 |
Operating earnings before
depreciation (EBiTDA) |
170 219 |
89 955 |
41 026 |
26 534 |
–17 038 |
Percentage of total
operating revenues |
25% |
23% |
16% |
13% |
-11% |
| Depreciation |
–29 344 |
–24 669 |
–23 933 |
–27 943 |
–28 191 |
Operating earnings after
depreciation (EBiT) |
140 875 |
65 286 |
17 093 |
–1 409 |
–45 229 |
Percentage of total
operating revenues
|
20% |
16% |
7% |
-1% |
-29% |
| Interest income |
26 185 |
11 506 |
5 290 |
2 747 |
3 313 |
| Interest expense |
–34 005 |
–24 099 |
–15 555 |
–10 651 |
–4 768 |
| Exchange rate fluctuations |
787 |
–2 213 |
-583 |
-2 951 |
–1 704 |
| Net financial items |
–7 033 |
–14 806 |
–10 848 |
–10 855 |
–3 159 |
| Earnings before tax |
133 842 |
50 480 |
6 245 |
–12 264 |
–48 388 |
Tax
|
–39 383 |
–16 132 |
20 602 |
–44 |
1 272 |
| Net earnings for the year |
94 459 |
34 348 |
26 847 |
–12 308 |
–47 116 |
The above condensed income statement complies in all material respects with the accepted form for companies required to prepare financial statements pursuant to the
Swedish Annual Accounts Act. This form of presentation is ideally suited to Neonet’s business, since revenue generation is based on transaction revenues rather than revenue sources such as interest income and other financial transactions, which are common among other financial companies. However, the formal part of Neonet’s annual report is presented in a manner that complies with the Swedish Act on Annual Accounts for Credit Institutions and Securities Companies.
See also Notes, Accounting and valuation policies.
DEFINITIONS
Average capital employed Average balance sheet total less average noninterest-bearing liabilities including deferred tax liabilities.
Average number of employees Average number of employees during the year, calculated as full-year employees.
Capital adequacy ratio Total capital base divided by the total riskweighted amount relating to capital requirements for credit and market risk (FFFS 2004:8). The basis of calculation according to FFFS 2004:8 has affected the key figures in previous periods.
Debt/equity ratio Closing interest-bearing provisions and liabilities in relation to closing shareholders' equity.
Dividend per share Dividends for the year in relation to the number of shares.
Earnings per share Earnings after tax in relation to the average number of shares in the period.
EBITDA Earnings before net financial items, depreciation and tax.
Equity/assets ratio Closing shareholders' equity as a percentage of closing balance sheet total.
Equity per share Closing shareholder's equity in relation to the closing number of shares for the period.
Interest cover Earnings before tax plus interest expenses divided by interest expenses.
Operating revenues Transaction revenues and other operating revenues.
Net margin Net profit as a percentage of total operating revenues.
Proportion of risk-bearing capital The sum of shareholders' equity and deferred tax liabilities divided by the balance sheet total.
Return on capital employed Earnings for the year after net financial items plus interest expenses, in relation to the average capital employed.
Return on shareholders' equity The net earnings for the period as a percentage of the period's average shareholders' equity.
Shareholders' equity after full dilution Closing shareholders' equity plus upcoming issue in relation to the number of shares after the issue.
Transaction expenses Commissions expenses and other operating expenses directly related to transactions on the respective exchanges.
Transaction margin Transaction revenues excluding billed-through services less transaction expenses as a percentage of transaction revenues excluding billed-through services.