Annual review 1 2019 9 SISÄLLYS

Contents

Componenta in brief...... 3 15 Inventories...... 50 16 Accounts receivables ...... 50 CEO’s review...... 5 17 Other short-term receivables and accrued income ...... 51 Report by the Board of Directors 2019...... 6 18 Deferred tax assets and liabilities...... 52 Key figures...... 20 19 Investment properties...... 54 Calculation of key financial figures...... 21 20 Assets classified as held for sale...... 54 21 Share capital, share premium reserve and other reserves...... 55 Group development...... 22 22 Capital management...... 56 Consolidated financial statements...... 23 23 Share-based payment...... 56 Consolidated income statement...... 23 24 Pension obligations and other benefit plans...... 57 Consolidated statement of comprehensive income...... 24 25 Provisions...... 58 Consolidated statement of financial position...... 25 26 Financial risks and instruments...... 58 Cash flow statement ...... 26 27 Restructuring debts...... 62 Statement of changes in consolidated shareholders’ equity...... 27 28 Other current liabilities and accruals...... 63 29 Reconciliation of financial liabilities to cash flow statement ...... 63 Notes to the consolidated financial statement...... 29 30 Lease liabilities...... 64 Accounting principles for the consolidated financial statements...... 29 31 Contingent liabilities...... 65 1 Net sales...... 37 32 Related party disclosures...... 65 2 Business acquisitions and business divestments...... 39 33 Events after end of period...... 66 3 Discontinued operations...... 41 4 Other operating income...... 41 Parent company financial statements...... 67 5 Operating expenses...... 42 Parent company income statement ...... 67 6 Personnel expenses...... 42 Parent company balance sheet ...... 68 7 Research and development costs...... 43 Parent company cash flow statement...... 69 8 Depreciation, amortization and write-down of non-current assets...... 43 Parent company accounting principles for the financial statements...... 70 9 Financial income and expenses...... 43 Notes to the parent company...... 73 10 Income taxes...... 44 Signatures for the financial statement and board of directors’ report...... 81 11 Earnings per share...... 44 12 Intangible assets...... 45 Auditor’s Report...... 82 13 Goodwill...... 46 Information for shareholders...... 89 14 Tangible assets...... 46 2 Componenta in brief

Componenta is the leading manufacturer of metal components in . Net sales by market area in 2019 We specialize in supplying cast and machined components, as well as forged blanks, hydraulic pipes and plate cuttings, to our customers who are local and global manufacturers of vehicles, machines and equipment. Other We provide a one-stop-shop service and support our customers through Sweden Finland the whole process from design and engineering to production and deliveries. countries MEUR MEUR MEUR Componenta has foundries in and Karkkila, machining services in 7.9 38.7 Jyväskylä, Härmä, Kurikka and , and material services (plate 0.2 cuttings, hydraulic pipes and forged blanks) in Jyväskylä and Leppävesi in Finland.

The shares of Componenta are listed on Nasdaq (CTH1V).

Net sales (continued operations) EBITDA (continued operations) MEUR 50.7 MEUR 1.6 Germany Distribution of net sales by Operating result (continued operations) MEUR customer segment Benelux 2.0 Machine building 39% MEUR -1.7 countries Agricultural machinery 25% Average number of employees MEUR Forestry machines 10% ~510 0.1 Energy industry 12% Defence industry 3% Order book Other Other industries 11% MEUR 9.0 European countries MEUR 1.5 3 Key figures 2019 2018 Change

Net sales, continued operations, MEUR 50.7 39.3 29.0%

EBITDA, continued operations, MEUR 1.6 3.2 -50.2%

Operating result, continued operations, MEUR -1.7 1.0 -274.7%

Operating result, cont