Financial position and capital expenditure

Financial Position and Capital Expenditure

At the end of the reporting period, the Digia Group’s consolidated balance sheet total stood at EUR 84.3 (12/2014: 80.4) million and the equity ratio was 53.7 (12/2014: 51.5) per cent. Net gearing was 16.6 per cent (12/2014: 30.3) per cent. Cash and cash equivalents at the end of the period totalled EUR 6.7 (12/2014: 5.1) million.

Interest-bearing liabilities at period end amounted to EUR 13.5 (12/2014: 16.2) million. These consisted of EUR 12.0 million in loans from financial institutions and EUR 1.5 million in financial leasing liabilities.

Consolidated net cash flow from operating activities for the financial year was EUR 6.7 million (1.8) million positive. Cash flow from investments for the year was negative by EUR 1.4 (1.2) million. Cash flow from finance for the year was negative by EUR 3.8 (2.2) million.

The Group’s total investments into fixed assets were EUR 1.5 (1.1) million.

Return on investment (ROI) for the financial year was 15.6 (9.0) per cent and return on equity (ROE) was 13.5 (7.8) per cent.

The Group carries out annual impairment testing of goodwill and intangible assets with an indefinite useful life.

Impairment testing is described in more detail in the notes to the financial statements, under Note 14 Intangible assets.