Financial position and capital expenditure

Financing, Cash Flow and Expenditure

At the end of December 2016, Digia’s balance sheet total stood at EUR 66.4 million (12/2015: EUR 84.3 million) and the equity ratio at 49.8 (12/2015: 53.7) per cent. Net gearing was 35.6 (12/2015: 16.6) per cent. Cash and cash equivalents totalled EUR 2.0 million (12/2015: EUR 6.7 million). The balance sheet comparison figures presented above include the Qt business.

The Group's interest-bearing liabilities totalled EUR 13.7 million at the end of December 2016 (12/2015: EUR 13.5 million). These consisted of EUR 8.0 million in long-term and EUR 4.0 million in short-term loans from financial institutions, and EUR 1.7 million in financial leasing liabilities.

Cash flow from operating activities in January–December 2016 totalled EUR 3.8 (6.7) million. Cash flow from investments came to EUR -4.5 (-1.4) million. The Igence acquisition is included in the cash flow from investments. Cash flow from financing was EUR -1.5 (-3.8) million.

Total investments in fixed assets were EUR 1.7 (1.5) million during January–December 2016. The return on investment (ROI) was 11.0 (15.6) per cent, and return on equity (ROE) was 11.0 (13.5) per cent.