Financial statement analysis by Suomen Asiakastieto Oy
HANNET OY
Veckjärventie 3
06100 Porvoo
Telephone 0207401900 Telefax 0207401903
Trade register number Registered 15.12.2005
Business ID 20024405 Business started 01.12.2005

Turnover
In 2008, the turnover amounted to 363 thousand EUR, the length of the accounting period was 12 months, and the period ended on 31.12.2008.
Number of employees
In 2008, the number of employees amounted to 8.
Line of business
The company´s investigated line of business on 21.12.2005 is: construction of utility projects for electricity and telecommunications (42220)
The financial statement analysis is based on the financial statement data of HANNET OY in the accounting period as at 31.12.2008. The analysis also utilizes the data of the accounting periods 2006-2007.
The auditor has approved the financial statement without remarks.
Industry comparison
The comparison includes 90 companies in the industry class 42220 (Construction of utility projects for electricity and telecommunications) from the period 2008. The risk of bankruptcy in the line is 0.6 %, and the risk of payment defaults 3.3 %. The risk of payment defaults is clearly lower than average.
Volume
The turnover of HANNET OY is small (363 tEUR) in relation to all active companies. Proportioned to the line of business, the turnover is close to the average in the line (454 tEUR). The turnover increased extensively in the latest accounting period (134.8). The increase has been considerably faster than the average in the line. Due to this, the subject may fast increase its market share, provided that the trend continues in the future. In the latest accounting period, the company employed 8 persons on average. The turnover per person is 45 tEUR, which is poor compared with the line (median 119 tEUR). Thus, the productivity of labour is lower than the average in the line.
Profitability
The operating margin of the company (27.9 %) is very good, proportioned to the line (median 12.2 %). This refers to exceptionally good internal financing. The internal financing has substantially improved from the previous accounting period. The operating result in % (17.5 %) is good, compared with the line (median 8.2 %). The contribution margin increased rapidly in the previous accounting period. The central ratio for profitability, return on investment, is very good (53.8 %). This is clearly better than the average in the line (median 17.4 %), and indicates really good possibilities for operation. The profitability increased steeply in the previous accounting period.
If, instead of the return on investment, the return on assets is calculated, taking also into account interest-free loans, the return ratio is 29.6 %. The company has a lot of interest-free loans, due to which the return on assets remains on a considerably lower level than the return on investment. Thus, the company has succeeded in acquiring a lot of financing with favourable terms and to raise the return to be calculated for capital at interest. The return on assets is very good, in relation to the line of business (11.0%).
Liquidity
The liquidity is passable, measured by current ratio (1.0), which is considerably lower than the average in the line (median 1.7). The company´s financial buffer is very small. The sales receivable turnover of the company is long (99 days) compared with the line (35 days).
Solvency
The solvency of HANNET OY is satisfactory, measured by equity ratio (25.7 %). The company´s equity ratio is lower than the median in the line (41.9%) . The solvency has improved considerably from the previous period. The company´s net gearing is 0.5, which can be considered good. The relative indebtedness is 37.2%, which is satisfactory compared with the median in the line (23.1%).
Summary and remarks
The company´s profitability and solvency are both at least on a satisfactory level, so passable liquidity does not cause an immediate risk.
