Hackmangroup Annual Report 2000
Total Page：16
File Type：pdf, Size：1020Kb
Annual Report 2000 CONTENT HackmanGroup 2 Events and New Products 4 CEO’s Review 6 A Vision of the Future 8 Designor 10 Metos 14 Other Functions 18 Report by the Board of Directors 19 Income Statement 22 Balance Sheet 23 Cash Flow Statement 24 Accounting Principles 25 Notes to the Financial Statements 27 Group Key Ratios and Figures 37 Calculation of Key Ratios 38 Financial Risk Management 39 NOTICE TO THE SHAREHOLDERS Share Capital, Shares and Shareholders 40 Proposal of the Board of Directors 44 Annual Shareholders’ Meeting Auditors’ Report 45 Board of Directors, Auditors 46 Thursday 19 April 2001, 3.00 p.m. Scandic Hotel Continental Helsinki, Executive Board, Key Personnel of HackmanGroup 47 conference room Nordica I , Mannerheimintie 46, Helsinki. Key Personnel of Divisions 48 Directory 50 All shareholders who have been registered no later than 9 April, 2001 in the official company shareholder register kept by Suomen Arvopaperikeskus Oy may participate in the Annual Shareholders’ Meeting. Notification of attendance no later than 17 April, 2001, 2.00 p.m. to: Hackman Oyj Abp, Share register, P.O.Box 955, 00561 HELSINKI or by phone + 358 (0) 204 39 5717 or e-mail: [email protected] Please notice, if your address has changed, inform the bank that takes care of your stocks on your new address. Payment of dividends The Board of Directors has proposed a dividend of EUR 0.50 per share for 2000 on both Series A and K shares. The dividend clearing day is to be 24 April, 2001 and the date of payment, 2 May, 2001, if the proposal of the Board is approved. Shareholders who have not changed over to the Book-Entry Securities System by the clearing day will receive their dividend payment once their shares have been changed over to the system. Financial information HackmanGroup will publish the following reports in Finnish, Swedish and English: Annual Report 2000 Week 12 (19-23 March, 2001) Interim Report I Q Friday 4 May, 2001 (1-3 months) Interim Report II Q Thursday 2 August, 2001 (1-6 months) Interim Report III Q Thursday 1 November, 2001 (1-9 months) The publications can be ordered by writing to Hackman Oyj Abp, Group Communications, P.O.Box 955, FIN-00561 HELSINKI or by phone + 358 (0) 204 39 5732 or by fax + 358 (0) 204 39 5708 All financial information will also be published on HackmanGroup’s home pages: www.hackmangroup.com 1 HackmanGroup HACKMAN OYJ ABP BOARD OF DIRECTORS CHIEF EXECUTIVE OFFICER • Tapio Hintikka DESIGNOR • President Tero Vähäkylä METOS • President Michael Ramm-Schmidt GROUP FUNCTIONS PROPERTY MANAGEMENT HADWACO • President Juhani Kujala Hackman Oyj Abp is a holding company, whose primary is among the five largest firms in its sector. task within the Group is to serve as a source of financing. In The HackmanGroup operates in over 20 countries. In operational terms, the Group Head Office assumes responsi- 2000 the HackmanGroup’s sales were valued at EUR 315.8 bility for the business areas’ financing, investor and financing million and the group’s personnel numbered 2 610, of relations, property management, and the necessary coordina- whom worked outside of Finland 1 221. tion projects. We are concentrating on our two main divisions, We have defined our way of operating on the basis of the Designor and Metos. The common feature of these divisions is following shared values: that their growth is based on the consumer’s increasing purchasing power and desire to invest in the quality of life. A STRONG BUSINESS ETHIC Our other activities include the Hadwaco Division, Group At Hackman we take responsibility for the environment and functions and the management of real property. show concern for the employees. In our operations we adhere From the beginning of 2001 operational business follow- to high morals and the principles of sustainable development. up of the divisions was forwarded to the board of Hackman Oyj Abp by closing the external divisional boards. This ar- A CUSTOMER ORIENTATION rangement increases the Boards awareness of the main busi- Superior product and service quality are important to us, ness drivers of both divisions as well as the Boards possibili- because that quality is the foundation of customer ties to contribute the strategy development. satisfaction. We collect customer feedback actively and Designor is a leading manufacturer and marketer of develop our operations on that basis. housewares based on Scandinavian design. The four Designor brands – iittala, Arabia, Rörstrand and Hackman – OPENNESS AND PARTICIPATION are well known throughout the Nordic countries. At Hackman, openness, interaction and cooperation Metos develops and produces services, systems and constitute an essential aspect of everyday life. We consider it individual products for the needs of food and beverage important that employees participate in the development of production in professional kitchens. Metos’s operations are their own jobs and the work community. This increases both divided into two main areas: Metos-brand products and motivation and work efficiency. manufacturing, and end-user operations. Importers and distributors are responsible for the international distribution A WILLINGNESS TO CHANGE of Metos-brand products. The objective is to be the best We are constantly developing our personnel and our global supplier in the sector by virtue of those products. The organization. We are always striving to anticipate what’s end-user operations, which rely on Metos’ marketing and ahead and to change in accordance with spirit of the time logistics concept, aim at being the best local supplier of – without forgetting our strong traditions. professional kitchens in selected markets. In Europe, Metos 2 NET SALES, EUR MILLION OPERATING RESULT AFTER EQUITY RATIO, % PERSONNEL, DECEMBER 31 DEPRECIATION, EUR MILLION 350 14 45 3500 300 12 40 3000 35 250 10 2500 30 200 8 25 2000 20 150 4,2 6 1500 3,3 15 100 4 1000 1,8 10 50 2,5 2 500 1,3 5 96 97 98 99 00 0 96 97 98 99 00 0 96 97 98 99 00 0 96 97 98 99 00 0 Other countries Operating result Minority interest Other countries North America % of net sales Unrestricted equity Finland Other European countries Restricted equity Nordic countries 2000 IN BRIEF 2000 1999 Change % Net sales EUR million 315.8 306.6 9.2 3.0 Outside Finland EUR million 203.1 185.7 17.4 9.4 Operating result after depreciation EUR million 13.3 7.8 5.5 70.5 Share of net sales % 4.2 2.5 1.7 Result before extraordinary items EUR million 8.3 2.8 5.5 Share of net sales % 2.6 0.9 1.7 Gross investments EUR million 25.3 14.7 10.6 72.1 Balance sheet total EUR million 263.8 252.0 11.8 4.7 Earnings per share (EPS) EUR 1.81 0.16 1.65 Dividend/earnings % 27.6 259.0 - Return on net assets (RNA) % 8.0 4.7 3.3 Return on equity (ROE) % 8.7 0.9 7.8 Equity ratio % 36.1 36.1 0 Number of personnel, December 31 2 610 2 943 -333 -11.3 Outside Finland 1 221 1 316 -95 -7.2 For a complete list of key figures see pages 37 and 41. 3 Events and New Products in Main Divisions – 2000 DESIGNOR Chicago Athenaeum Good Design Award iF Product Design Award 2000 The award was given to the following products from Hackman tools® To the Citterio Collective tools 2000 -series has been awarded the – collection: Lovegrove 2000, Citterio Collective tools 2000, Lindfors 98, iF Product Design Award. The awarded products had been set out on the Seth-Andersson 98, Citterio 2000, Citterio 98, Koskinen 2000 and iF Design Exhibition and in the iF Yearbook. Piano Workshop 98. Heikki Orvola - Craft Design Arabia Artists’ Exhibition at Retretti Art Center, This Heikki Orvola retrospective exhibition, held at Helsinki’s Museum of May 31-August 28, 2000 Art and Design, showcased his production from a period of 30 years. In Those participating in the show were Inkeri Leivo, Kati Tuominen-Niittylä, connection with the show, a book of the same name was published. The Heljä Liukko-Sundström, Olli Vasa, Pekka Paikkari, Pekka Toivanen, Fujimo book’s systematic presentation of Orvola glasses from iittala serial production Ishimoto, Kristina Riska, Nathalie Lahdenmäki, and Julia Virkkunen and Zia. represents a tool of vital importance to collectors and researchers. Harri Koskinen - 2000 Young Designer of the Year NEW DESIGNOR PRODUCTS The Design Forum Finland issued its Young Designer of the Year Prize to honor the 125th anniversary of the Finnish Association for the Applied iittala Arts. The prize was awarded in special recognition of an international Cube 2000, design by Oiva Toikka breakthrough in the field of design. Designor’s Harri Koskinen (1970-) was Bird 2000: Arctic Tern, design by Oiva Toikka one of the two to receive the honor. Harri’s most recent undertaking was Verna, design by Kerttu Nurminen, addition to series an invitational show at Issey Miyake’s gallery in Tokyo. BOY, design by Stefan Lindfors Gabriel, design by Markku Salo Design Plus Prize at Frankfurt’s Ambiente Fair Nappi, design by Markku Salo, new color Awarded in February to Carina Seth-Andersson’s bowls and Konstantin Ballo, design by Annaleena Hakatie, new color Grcic’s tumblers of the iittala relations –collection and Ross Lovegrove’s Kivi, design by Heikki Orvola, new color water pitcher of the Hackman tools®‚ collection. Aino Aalto Gray, design by Aino Aalto Alue, Pro Arte collection, design by Harri Koskinen Stefan Lindfors’s Housemix in Milan Peace, Pro Arte collection, design by Kerttu Nurminen Housemix, held during the Milan Furniture Fair, brought together the Pan&Dora, Pro Arte collection, design by Markku Salo fruits of Stefan’s industrial design.