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Enabling Digital Evolution

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Enabling Digital Evolution ENABLING DIGITAL EVOLUTION 2 012 CONTENT TELESTE Year 2012 in Brief 1 Teleste in Brief 2 CEO´s Review 4 Market Review 6 Megatrends 7 Strategy 8 Technology and Product Development 10 BUSINESS AREAS Business Areas in Brief 12 Video and Broadband Solutions 14 Network Services 18 Customer Projects 20 RESPONSIBILITY Personnel 24 Sustainable Development 26 MANAGEMENT Board of Directors 28 Management Group 30 Information for Shareholders 32 NET SALES OPerating PROFIT PROFIT FOR THE FINANCIAL RETURN ON CAPital EMPLOYED PERIOD Meur Meur % Meur 200 12 8 15 12 150 9 6 9 100 6 4 6 50 3 2 3 0 0 0 0 10 11 12 10 11 12 10 11 12 10 11 12 YEAR IN BRIEF YEAR 2012 IN BRIEF Despite the general instability As to our services business, co-opera- of the global economy, Teleste’s tion with our long-term partners contin- business environment remained satis- ued, and during the year, new significant factory. We managed to reach our tar- frame agreements were also signed. gets for profitable growth. Teleste wants to grow profitably and In this industry seasonal variations to be a valued partner for its custom- are common, but in 2012 the demand ers. With regard to sales of both prod- in the first half of the year was excep- ucts and services, reaching our growth tionally stronger than in the second half. objective is supported by the growing Progress was made on many fronts. need for the availability of broadband The company’s net sales increased by capa-city as the demand for video ser- more than 5 per cent and also profi- vices is getting more diversified. At the ta-bility improved significantly. This in- same time the demand for video surveil- crease in net sales was supported by lance solutions is increasing to ensure new orders for our video surveillance public safety. solutions and the market share gains The networked world requires a pio- in TV distribution business achieved neer in technology solutions. through a­­ number of important new customers. EQUITY RATIO EARNINGS PER SHARE KEY FIGURES % Eur Change, 2012 2011 % 60 0.5 Net sales, Meur 193.9 183.6 5.6 48 0.4 Operating profit, Meur 10.9 9.4 16.6 Profit for the financial period, Meur 6.7 6.3 6.4 36 0.3 Earnings per share, eur 0.38 0.36 5.6 24 0.2 Orders received, Meur 189.7 188.1 0.8 Shareholder’s equity per share, eur 3.48 3.17 9.7 12 0.1 Return on capital employed, % 13.0 11.5 13 0 0.0 Turnover, % of share capital 14.4 9.1 58.2 10 11 12 10 11 12 Year 2012 1 TELESTE IN BRIEF TEXAS: TXDOT Texas Department of Transportation (TX- DOT) is using Teleste IP video codecs and Ethernet switches in thousands of loca- tions throughout the State of Texas in- cluding major metropolitan areas such as Houston, Dallas, Fort Worth and Austin. Teleste equipment is used for migrat- ing analog CCTV cameras into IP and for transmitting video and control data to traf- fic operation centers for traffic monitoring purposes. DENMARK: STOFA A/S Stofa A/S, the second largest cable opera- tor in Denmark, is deploying pay-TV offer- ings with on-demand interactive TV and VoD services and up to 150 Mbit/s Inter- cept including automated processes, re- repair to a minimum and strongly supports net subscriptions on their cable TV infra- mote network surveillance and configura- a proactive service concept. structure. Together with WebTv, WebTv To tion. With the intelligent network Stofa has Stofa and Teleste have end 2012 Go, up to 48 hour catch-up services as well a quick overview of the network health, signed a two year frame agreement to as IP telephony services this gives Stofa a and it is easy to monitor the network infra- further continue the good corporation be- leading service offering in the Danish cable structure. With the intelligent network con- tween the companies. Stofa’s net sales is TV market. cept Stofa is ahead of problems that might approximately EUR 150 million and it em- Stofa has since years deployed occur, and these are identified and located ploys about 500 people. Teleste’s intelligent network product con- fast. This overall reduces the meantime to TELESTE IN BRIEF Teleste is an international technology company Our business is divided into two divisions, In 2012, Teleste’s net sales totaled EUR 194 that develops and offers video and broadband which are Video and Broadband Solutions million, and the company employed more than technologies and related services. Our supply and Network Services. In both areas, we rank 1,300 people. Teleste runs a worldwide net- of technology contributes to the convenience among the world’s leading companies and work of offices and more than 90% of its sales and safety of daily living. Our core business is technological forerunner. Video and Broadband are generated outside Finland. video - image and data processing, transfer and Solutions focuses on access networks and The company is listed on the NASDAQ OMX management. Our customer base consists of product solutions in video surveillance applica- Helsinki Ltd. For more information see cable and telecom operators, as well as public tions. Network Services offers comprehensive www.teleste.com sector. services for network design, construction and maintenance. 2 Teleste, Enabling Digital Evolution TELESTE IN BRIEF TELESTE´S CLOSE CUSTOMER relation- SHIP AND RELIABLE PARTNERS, ACHIEVED THROUGH OUR LOCAL PRESENCE, MAKE UP ONE OF OUR COMPETI- TIVE advantages. SOME OF THESE ARE INDICated HERE ON THE MAP THAILAND: POINT IT Consulting CO LTD During the past decade, Point IT Consult- systems, both in Bangkok and also in the “We are proud of the stability and re- ing Co. Ltd, a Bangkok based company, has equally famous city of Pattaya. The Pat- liability of the Teleste products, and our had a profitable partnership with Teleste. taya system has grown year on year to technical staffs have been delighted with Point IT is involved in providing IT solutions be a useful reference site for the benefits the professional and speedy support given for the banking sector, as well as IP CCTV of public space CCTV. Some three million to us by our European partners,” says Khun solutions for various government depart- foreign visitors experienced less traffic Prakorb Jongjarussang, co-owner and CEO ments. hold ups, more efficient public space main- of Point IT Consulting Co. Ltd. The partners have together success- tenance, as well as a much safer vacation fully implemented a number of IP CCTV time. GLOBAL PRESENCE VALUES - LOCAL RELEVANCE Our values provide beacons that guide our Our main market is Europe, where we have our journey towards our shared destination – the densest network of offices. Besides the head Teleste vision office our biggest offices by number of person- nel are located in Germany, the UK, Poland, • Customer Centricity Belgium and China. Teleste is headquartered in Finland and the vast majority of our product development and • Respect production has been concentrated in the Turku region, in Littoinen. • Reliability The expansion of our production facilites in 2010 has brought important savings in logis- Corporate headquarters • Result Orientation tics and has also reduced the production turn- around time significantly. Year 2012 3 CEO’S REVIEW BETTER Results BY WORKING TOGETHER In the past year, our operating environ- collaboration. In spite of demanding sched- In the public sector, video technology ment offered us a number of interesting ules, we were able to deliver the projects is needed to guarantee security in applica- changes. At the end of 2011, demand was on time. We put an extra emphasis on our tions like road and rail transport and public strong, so we moved into 2012 at quite customer orientation and received a num- space monitoring. With the increase of vari- some momentum. The rush went on until ber of new major contracts especially in ous threats, the monitoring must be man- the summer, but towards the end of the our product-based business, .i.e. Video and aged more cost-effectively. This challenge year the demand leveled off. As a rule, the Broadband Solutions. We strengthened can be overcome by a centralized and au- trend has been the opposite, that is, the our market position in cable network prod- tomated video surveillance. For this, we de- autumn has been a busier time than spring. ucts and expanded our portfolio in video velop our video surveillance systems so as Presumably, there are numerous reasons surveillance systems. Our product develop- to ensure better image quality, increased for such exceptional market situation, but ment paid off and the new products were versatility and improved usability. we think that in addition to the European very well received in the market. Our profit- financial instability, at least the Olympic ability in the services business, that is, in Strong Market Position Games in London and the European Foot- Network Services, improved through deve- In the industry, Teleste ranks among the ball Championships could have had an im- lopment of productivity and more efficient leading companies in the world, while in pact on the fluctuations in demand. Cable use of resources. Europe, we are the market leader in the ac- operators, who make up an important part The year also brought challenges. The cess network solutions. Besides competi- of our customer base, scheduled their larg- uncertainty of the latter part of the year tive products and services, we also have a est investments in network development required adjustments to be made in the strong understanding of the needs of our before these massively popular TV viewing operations to match the level of the order customers, comprehensive sales organiza- events, so by the end of the year the most backlog without compromising any future tion and compelling evidence of success- important investments had already been growth opportunities.
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