Just a quick highlight:
Sales of Service Point Solutions’ US Division
FY 2009 - 19,201 mil Euro
FY 2010 - 16,428 mil Euro
= 14.5% off
Sales for all of Service Point Solutions (the entire company)
FY 2009 - 213,788 mil Euro
FY 2010 - 202,746 mil Euro
= 5.2% off
I will likely make comments about SP’s results, after I’ve studied them. But, I will do that in a later post, not in this one.
Okay, let’s get on with the rest of this post …..
I could have used another lesson in Spanish before I sat down tonight to research the information I found on Service Point Solutions’ web-site and on the web-site of the Bolsa (Spanish) Stock Exchange. (MK, where are you when I really need you!)
Buenas tardes, senors, senoras and senoritas. Hola! Como Estas?
Okay, pardon my late-at-night humor.
This evening, I found the most recent financial reports for Service Point Solutions, along with other information as well. These reports will show you how Service Point’s business performed in 2010. In addition, I found a file that shows the information that was apparently presented at a Meeting of Shareholders that took place last week. And, I found another file that provides SPS Management’s guidance for 2011. And, I found yet another file that, I think, contains information about a public offering of additional SPS shares. I hope your Spanish language skills are better than mine.
Unfortunately, I could not find, on SP’s web-site, any English language versions of these reports and documents. I would imagine that SPS will, at some point, post English language versions of these reports and documents on its web-site. Until they do that, you’ll have to live with the Spanish language versions. I hope you either read Spanish or know someone who’s fluent in Spanish who can help you!
Below, you will find several reports/documents mentioned. You will first see the Spanish language name of the document or report. Followed by the name of the report in English, after I ran the Spanish through “Google Translate”.
1. INFORME FINANCIERO SEMESTRAL CORRESPONDIENTE AL AÑO
which Google Translate translated to….
1. SEMI-ANNUAL FINANCIAL REPORT FOR THE YEAR
For some reason, I can’t provide you a click-on link to this report, but here’s how you get to it:
Step 1 – go to http://www.servicepoint.net/SPSG/bolsa.html
Step 2 – on the right side of that web-page, click on CNMV Information
Step 3 – on the right side of that web-page, click on “Informacion financia intermedia”
Step 4 - at the top of the list (in blue) on that web-page, click on 25/02/2011
Step 5 - on the left side of that page, click on “Informe semestral”
If you think it was difficult for you to get to that damn file, think of what I had to go through to find it and then explain how to get there! I.E. Don’t complain!
2. ESTADOS FINANCIEROS SEMESTRALES RESUMIDOS CONSOLIDADOS Y NOTAS EXPLICATIVAS CORRESPONDIENTES AL EJERCICIO ANUAL TERMINADO EL 31 DE DICIEMBRE DE 2010
which Google Translate translated to….
2. HALF-YEARLY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND EXPLANATORY NOTES FOR THE YEAR ENDED DECEMBER 31, 2010
The above mentioned file can be viewed by clicking on this link:
3. RESULTADOS 2010
which Google Translate translated to….
3. RESULTS 2010
The above mentioned file can be viewed by clicking on this link:
4. JUNTA GENERAL ORDINARIA Y EXTRAORDINARIA DE ACCIONISTAS DE SERVICE POINT SOLUTIONS, S.A.
which Google Translate translated to….
4. ORDINARY AND EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS OF SERVICE POINT SOLUTIONS, SA (This appears to be the order of business to be conducted at the meeting and, I think, mentions the share issuance to raise additional capital.)
The above mentioned file can be viewed by clicking on this link:
5. JUNTA GENERAL ACCIONISTAS 21 DE FEBRERO 2011
which Google Translate translated to….
5. SHAREHOLDERS GENERAL MEETING FEBRUARY 21, 2011 (PRESENTATION FILE)
The above mentioned file can be viewed by clicking on this link:
I think these last two documents have something to do with an additional offering of Service Point shares. Service Point recently issued a Press Release to announce that it had completed a restructuring and extension of its debt-financing. But, I also recall hearing that Service Point was going to sell additional stock in order to raise cash for acquisitions. Service Point Solutions recently announced that it was going to acquire Holmbergs, a Swedish company. Even prior to that announcement, SPS said that it was looking at additional acquisitions.
6. INFORME ELABORADO POR EL CONSEJO DE ADMINISTRACION DE LA COMPANIA EN RELACION CON LAS PROPUESTAS DE MODIFICACION DE ESTATUTOS Y OTROS ACUERDOS A SOMETER A LA JUNTA GENERAL DE ACCIONISTAS DE 20 Y 21 DE FEBRERO DE 2011, EN PRIMERA Y SEGUNDA CONVOCATORIA RESPECTIVAMENTE
which Google Translate translated to….
6. REPORT PREPARED BY THE BOARD OF DIRECTORS OF THE COMPANY IN CONNECTION WITH THE PROPOSED AMENDMENTS TO CONSTITUTION AND OTHER AGREEMENTS TO BE SUBMITTED TO THE SHAREHOLDERS OF 20 AND 21 FEBRUARY 2011, IN FIRST AND SECOND CALL RESPECTIVELY
The above mentioned file can be viewed by clicking on this link:
And…..
7. ANNOUCMENT OF MEETING TO SHAREHOLDERS
The above mentioned file can be viewed by clicking on this link:
Finally, I received an e-mail, dated Feb 28, 2011, from SPS’ media relations people (I’ve signed up, so I automatically receive these e-mails.) This one looks like an announcement of projections for 2011 (Sales and EBITDA) and an announcement that the acquisition of Holmbergs was completed.
Here’s the Spanish language version of the e-mail:
28 de Febrero 2011
Service Point proyecta obtener ingresos entre €216m y €220m y un EBITDA entre €18m y €20m en 2011
La integración de Holmbergs en Suecia que se completara dentro del marco de su ampliación de capital de €14.5m permitirá incrementar en €15m los ingresos y en €2m de EBITDA sus objetivos en 2011 por lo que contempla obtener ventas por encima de €230m y un EBITDA consolidado entre los €20m-€22m en 2011.
Las claves para la consecución de dichos objetivos son: (i) La reactivación del entorno y actividad económica en los países donde actúa y sus clientes, (ii) los resultados obtenidos al plan de restructuración de las operaciones que permiten mantener costes planos durante los próximos 3 años y (iii) su especialización y captura de clientes en los sectores financiero, educación y publishing y en actividades on-line donde ocupa posiciones de liderazgo.
which Google Translate translated to….
February 28, 2011
Service Point projected income between € 216m and € 220m and an EBITDA between € 18m and € 20m in 2011
Holmbergs integration in Sweden was completed as part of its capital increase of € 14.5m will increase revenue by € 15m and € 2m in 2011 EBITDA objectives as provided for obtaining sales over € 230m and Consolidated EBITDA between € 20m-€ 22m in 2011.
The keys to achieving these objectives are: (i) The recovery of the environment and economic activity in the countries where it operates and its customers, (ii) the results achieved in the restructuring plan of operations that keep costs flat over the next 3 years and (iii) capture their expertise and clients in the financial, publishing and education and on-line activities where he held positions of leadership.
Posts
No comments:
Post a Comment