OKMETIC´S FINANCIAL STATEMENTS FOR 1 JANUARY - 31 DECEMBER 2009

(Thomson Reuters ONE) - OKMETIC OY STOCK EXCHANGE RELEASE 11 FEBRUARY 2010 AT 1 P.M.OKMETIC´S FINANCIAL STATEMENTS FOR 1 JANUARY - 31 DECEMBER 2009The net sales for the financial year amounted to 54.4 million euro (67.9 millioneuro) and profit/loss for the period was -0.5 million euro (5.8 million euro).Earnings per share were -0.03 euro (0.34 euro).KEY FIGURES 1,000 euro 1.10.- 1.10.- 1.1.- 1.1.- 1.1.- 31.12.09 31.12.08 31.12.09 31.12.08 31.12.07 Net sales 13,812 15,751 54,361 67,867 64,652 Operating profit before depreciation (EBITDA) 1,546 2,877 7,206 15,517 15,216 Operating profit/loss -197 1,108 270 8,476 7,121  % of net sales -1.4 7.0 0.5 12.5 11.0 Profit/loss for the period -344 -1,117 -513 5,825 5,305 Earnings per share, euro -0.02 -0.07 -0.03 0.34 0.31 Net cash flow from operating activities 1,858 2,878 6,315 13,177 8,305 Net interest- bearing liabilities -4,770 -586 -4,770 -586 8,952 Average number of personnel during the period 330 366 337 364 362REVIEW IN BRIEF- Net sales in January-December 2009 were 54.4 million euro (67.9 million euro)and in the last quarter 13.8 million euro (15.8 million euro).- Okmetic´s sensor wafer sales in January-December 2009 remained slightly behindthe previous year´s level. The proportion of sensor wafer sales of Okmetic´stotal sales grew. After a drop in the first quarter, semiconductor wafer saleswere on the rise throughout the latter part of the year. However, the totalsemiconductor wafer sales were clearly lower than in 2008. Okmetic´s technologysales remained slightly behind the level of 2008.- Profit/loss for the period was -0.5 million euro (5.8 million euro). In thelast quarter the loss for the period was -0.3 million euro (-1.1 million euro).- Non-recurring items weakened the profit for the period by 0.3 million euro.The result of the last quarter included compensation of 0.4 million euro forterminated employment contracts.- As a result of the personnel negotiations the number of the clerical workerswas reduced by approximately 20 persons in the last quarter of the year.- Earnings per share in 2009 were -0.03 euro (0.34 euro).- The net cash flow from operations in January-December 2009 amounted to 6.3million euro (13.2 million euro) and in the last quarter to 1.9 million euro(2.9 million euro).- At the end of the period, the company´s cash and cash equivalents exceeded theinterest-bearing liabilities by 4.8 million euro (0.6 million euro).- In December, the company prematurely repaid 10 million euro worth ofinstallments towards its long-term interest-bearing loans.- At the end of the year Okmetic has agreed on two significant silicon monocrystal sales contracts for year 2010, which total to 12 million euro.- M.Sc. (Econ.) Kai Seikku was appointed Okmetic´s President on 25 January2010. He started his work at Okmetic immediately.- On 25 January 2010, the board of directors decided on a directed share issueof 400,000 shares to the company founded by top management. This company wasallocated a 0.8 million euro loan for the purchase of the shares.- On 11 February 2010, the board of directors has decided to repurchase no morethan 280,000 company´s own shares. The repurchase of own shares will start on18 February 2010 at the earliest and it will end on 6 May 2010 at the latest.- On 11 February 2010, the board of directors decided on executive managementgroup´s share-based incentive program for 2010 and 2011.- On 11 February 2010, the board of directors has approved of 3.5 million euroinvestment in expansion of silicon-on-insulator (SOI) wafer production.- On 11 February 2010, the board of directors has decided to propose to theannual general meeting that the board of directors should be granted theauthorisation to decide on the issuance of 3.4 million shares and on therepurchase of around 1.7 million of the company´s own shares.- On 11 February 2010, the board of directors has decided to propose to theannual general meeting that a dividend of 0.05 euro per share be paid forfinancial year 2009.- Net sales for the first half of 2010 are expected to amount to around 30million euro. Operating profit and net cash flow from operating activities areestimated to be clearly positive.MARKETSCustomer industries sensor, semiconductor and solar energy industriesSensor industryThe shipments in the sensor industry increased in volume by 10 percent, but thesales value in US dollars decreased by 8.6 percent. The development in sensorsales has been influenced by the increased use of micro sensors in many consumerelectronics products. It is estimated that the sensor shipment volumes havecontinued to increase in the last quarter. The value in sensor sales in 2010 isexpected to reach at least the 2008 level. In terms of quantity, the sensorshipments will rise to a record high level. (iSuppli)Several microelectromechanical (MEMS) products are currently being developedwithin the sensor segment and they have higher growth rates than other sensors.Silicon-on-insulator (SOI) technology is a good example of a rapidly growingsensor manufacturing technology. Okmetic is amongst the pioneering suppliers whoprovide these products and services to the sensor industry.Semiconductor industryAt the beginning of 2009, the semiconductor industry experienced its strongestfall in demand so far. The demand grew as the year proceeded and, towards theend of the year, monthly sales value rose to the level of previous years. Thedecline in annual sales in the semiconductor industry in US dollars was around10 percent compared to the previous year. (IC Insights)In 2010, sales in the semiconductor industry are generally estimated to growover 10 percent. If these estimations become reality, the sales in thesemiconductor industry will surpass last year´s level.Solar energy industryThe strong growth in the solar energy industry came to an end. The total outputof the panels sold in 2009 was 6,37 GW. This is five percent more than in 2008.In addition to the general economic situation, the demand in the field fell dueto the diminishing financial support by governments to solar cell producedelectricity. In the last quarter of the year the solar energy industry continuedto rise from the low point of the beginning of the year. (Solarbuzz)The demand and the utilisation rate of plants in the solar energy industry havegradually improved. The price level continues to be low. This creates costpressure for the whole industry and the level of new investments is estimated tostay low. Governmental decisions on subsidies have a significant impact on thesolar energy industry. This brings certain insecurity to the development of themarket.Silicon wafer industryThe market development of the silicon wafer industry is monitored in terms ofsurface area. According to the report published in November by SMG, the group ofsilicon wafer suppliers in SEMI, the volume of wafer shipments in the siliconwafer industry in the third quarter soared up to 1,972 million square inches,which was 17 percent higher than the shipment volume in the previous quarter.These shipment volumes in the third quarter were 13 percent below the volume ofthe corresponding time period in 2008. Over the last part of the year, thesilicon wafer markets are estimated to have returned to the average level of2008.The demand volume for silicon wafers follows the shipment volumes of customerindustry, so the volumes in silicon wafer industry are also expected to continueits recovery. Along with the increase in the semiconductor and sensorindustries, the demand in the silicon wafer market will most likely remain atthe good level in the early part of 2010.OkmeticOkmetic´s sales of sensor wafers have remained strong despite the marketsituation. Sales of semiconductor wafers decreased significantly due to thegeneral decline in demand at the beginning of 2009. The semiconductor wafersales, however, rapidly recovered along with the markets towards the end of theyear. In a challenging market situation of 2009 Okmetic succeeded to increaseits market share in the product areas which are important to the company.Negotiations for new technology sales contracts were continued.PROJECTIONS FOR THE NEAR FUTUREOkmetic specialises in the manufacture of demanding sensor wafers. The leadingposition as the supplier of advanced sensor wafers creates a sound basis for thecompany and growth potential when the wafer industry is returning to a growthtrack. This is expected to happen this year. Semiconductor wafer shipments areexpected to continue to grow at the beginning of the year 2010. As previouslyannounced, around 12 million euro silicon mono crystal sales, which is includedin technology sales, have already been agreed with customers.Net sales for the first half of 2010 are expected to amount to around 30 millioneuro. Operating profit and net cash flow from operating activities are estimatedto be clearly positive.EVENTS AFTER THE END OF THE FINANCIAL YEARM.Sc. (Econ.) Kai Seikku was appointed Okmetic´s President on 25 January 2010.He started his work at Okmetic immediately.On 25 January 2010, the board of directors decided on a directed share issue of400,000 shares at the share price of three euro to the company founded by thetop management in relation to the incentive scheme aimed at this group. Okmeticgranted a loan of 0.8 million euro to the company for the purchase of theshares.On 11 February 2010, the board of directors has decided on a purchase scheme ofthe company´s own shares, based on the authorisation given at the extraordinarygeneral meeting on 6 November 2008. The aggregate number of shares repurchasedwill not be more than 280,000. The repurchase will start on 18 February 2010 atthe earliest and it will end on 6 May 2010 at the latest.On 11 February 2010, the board of directors decided on a share-based incentivescheme for the executive management group for the years 2010 and 2011 as a partof the groups´s incentive and engagement scheme. The shares potentially assignedas bonuses will be the company´s own shares repurchased in the stock market, sothat the incentive scheme does not have a weakening impact on the number ofshares.On 11 February 2010, the board of directors has approved of 3.5 million euroinvestment in expansion of silicon-on-insulator (SOI) wafer production. Theinvestment reinforces Okmetic´s position as the sensor wafer market leader.Board of directors´ proposals to the annual general meeting to be held onWednesday, 7 April 2010:The board´s authorisation to decide on new issues and other share entitlementshas been presented in this financial statement release under the section´Authorisation of the board of directors to increase share capital´.The board proposes that company´s auditors will be PricewaterhouseCoopers Oy,Authorised Public Accountants, which has appointed Mikko Nieminen, AuthorisedPublic Accountant, to act as the principal auditor.The board proposes that a dividend of 0.05 euro per share be paid for financialyear 2009.SALESOkmetic´s net sales in 2009 decreased by 19.9 percent from the previous year(increased by 5.0%), amounting to 54.4 million euro (67.9 million euro). Theglobal transitional period in the economy and the following generaldeterioration of the market situation, starting at the end of 2008, caused thedrop in the net sales. Okmetic´s market share grew in the product areas whichare important to the company. The drop in the net sales was considerably smallerthan in the field in general.Sales per customer area   1.10.- 1.10.- 1.1.- 1.1.- 1.1.- 31.12.09 31.12.08 31.12.09 31.12.08 31.12.07 Sensors 42% 41% 41% 37% 34% Semiconductors 43% 36% 31% 38% 56% Technology 15% 23% 28% 25% 10%Sensor wafer sales remained slightly behind the previous year. The proportion ofsensor wafer sales of Okmetic´s total sales grew. The use of sensors andproducts´ requirements are believed to continue their growth. Sensorapplications are becoming more popular in automotive industry and especially inconsumer electronics products such as mobile phones, cameras, game consoles andother portable devices.The overall weak economic situation affected especially semiconductor wafersales. Due to strong competition the shipment volumes and sales prices of thesewafers continued to drop in line with the previous year. Semiconductor wafersales were still increasing after the low point in the first quarter of 2009.The revenue recognition of the technology project in technology sales, whichstarted in 2007, was finalised. The most significant entries of the project hadalready been posted in previous years. Technology sales remained slightly behindthe 2008 level. The company has agreed on two significant silicon mono crystalsales contracts for year 2010, which total to 12 million euro.Net sales per market area   1.10.- 1.10.- 1.1.- 1.1.- 1.1.- 31.12.09 31.12.08 31.12.09 31.12.08 31.12.07 North America 41% 42% 37% 39% 48% Europe 30% 30% 33% 33% 32% Asia 29% 29% 30% 28% 20%Traditionally Okmetic has strong market positions in the North America andEurope. The proportion of Asia of the total net sales continued to increase in2009, reflecting the general change of focus in global economy.PROFITABILITYIn 2009, Okmetic group´s operating profit was 0.3 million euro (8.5 millioneuro). The operating profit accounted for 0.5 (12.5%) percent of net sales. Theloss for the period amounted to 0.5 million euro (profit 5.8 million euro).Earnings per share were -0.03 euro (0.34 euro).The group adjusted the costs and work force over the entire year to theprevailing market situation. The company´s entire personnel were temporarilylaid off from one to six weeks in spring 2009. At the end of the yearapproximately 20 clerical workers were given notice. At the same time, it wasdecided that approximately 20 manual workers would be laid off until furthernotice. However, the lay-offs were cancelled as the demand clearly recovered atthe turn of the year. Okmetic´s President left the company in October. Thechanges in employments caused an additional cost of 0.4 million euro in the lastquarter and of 0.9 million euro in the financial year. The sale of fixed assetsboosted the profit for the period by 0.2 million euro in the first quarter ofthe year. Earnings of 0.4 million euro were posted relating to the electricityhedging.Okmetic´s Oyj´s loan to its subsidiary Okmetic Inc., which was recorded as a netinvestment until 2006, has resulted in an exchange loss recognised in thetranslation differences under equity. At the beginning of 2009, the remainingloss amounted to 1.1 million euro (1.3 million euro). The loan has been recordedas a regular liability since 2006. The subsidiary has not repaid installmentstowards the loan during 2009. The remaining 1.1 million euro of the exchangeloss will be expensed proportioned to the loan repayments.FINANCINGThe group´s financial situation is good. The net cash flow from operationsamounted to 6.3 million euro (13.2 million euro).The group´s interest-bearing liabilities amounted to 2.5 million euro at the endof the year (17.4 million euro). In December, the company prematurely repaid 10million euro worth of installments towards its long-term interest-bearing loans.In June, the last 0.9 million euro installment of the subordinated loans wasrepaid.At the end of the year, cash and cash equivalents amounted to 7.3 million euro(18.0 million euro). On 31 December 2009, the group´s cash and cash equivalentsexceeded the interest-bearing liabilities by 4.8 million euro (on 31 December2008 liabilities were 0.6 million higher than cash and cash equivalents).Return on equity amounted to -1.0 percent (12.1% positive). The group´s equityratio strengthened, amounting to 78.9 percent (62.8%). Equity per share was2.89 euro (2.98 euro).INVESTMENTSIn 2009, Okmetic´s capital expenditure amounted to 1.7 million euro (2.6 millioneuro). The majority of the capital expenditure focused on increasing thecompany´s sensor wafer production capacity and on regular maintenance.PRODUCT DEVELOPMENTThe company expensed 2.1 million euro (2.3 million euro) in long-term productdevelopment projects in 2009. Product development costs accounted for 3.9percent (3.3%) of net sales. Product development costs have not beencapitalised.Okmetic´s research and development efforts are geared towards increasing itstechnological expertise and competitiveness. Research and development focuses ondeveloping new products and improving the features and the production processperformance of the existing products.Okmetic engaged in several strategic research projects with customers, researchinstitutes and other partners and participated both in national technologyprogrammes funded by Tekes, the leading Finnish funding agency for technologyand innovation, and international EU-funded programmes. In 2009 Okmetic launcheda new CAP-wafer and extended the performance of SOI product family and 200 mmsensor products.PERSONNELThe personnel´s expertise and well-being are Okmetic´s strengths as well aspreconditions for the realisation of the company´s strategy and success in thelong term. The commitment to Okmetic by its personnel is demonstrated by theimprovement of several operational results, the low absence rate and livelyparticipation in the initiative scheme despite the adjustment actions affectingthe personnel in the financial year.On average, Okmetic employed 337 people in 2009 (2008: 364 and 2007: 362). Atthe end of the year, 296 of the group´s employees worked in Finland, 28 in theUS and three in Japan. As a result of the personnel negotiations the number ofthe clerical workers was reduced by approximately 20 persons in the last quarterof the year.Twenty-nine percent (29%) of the personnel were women and seventy-one percent(71%) were men.  Clerical workers accounted for forty percent (36%) and manualworkers for sixty percent (64%). The average age of Okmetic´s employees was 41(41) and the average length of employment was 9.6 (8.5) years.Salaries and bonuses are based on the level of skills required in each positionthroughout the organisation. Salaries and bonuses amounted to 15.9 million euro(2008: 18.0 million euro and 2007: 18.1 million euro). The company´s parentcompany complies with the collective labour agreements of the TechnologyIndustries of Finland.All employee groups at Okmetic are eligible for an incentive scheme. Monthlytargets are set for the manual workers' productivity, and the resulting bonusesare paid once a month. Clerical workers and management are paid bonusesaccording to targets relating to the group's profitability, financial situationand operative performance. The bonuses payable for meeting the group's financialtargets account for 6 - 15 percent of the employees' annual income, at the most,depending on the personnel group. Operative targets are set individually frommanagerial level upwards. Any bonuses paid as a result of meeting these canaccount for no more than 6-15 percent of the managers' annual income. Based onthe results achieved in 2009, bonuses were paid only to the employees.ENVIRONMENTAL ISSUESOkmetic recognises the environmental risks associated with its business. Thecompany devises both a universal risk management plan and plans for individualprocesses. Ecologically sustainable operations boost Okmetic´s competitivenessand profitability.Measures devised for eliminating environmental risks are integrated to Okmetic´soperational processes. Environmental considerations are also factored into thefurther development of products and business in line with continuous improvementprinciples. Planning preventive measures is fundamental to managingenvironmental risks.Okmetic keeps an eye on developments in environmental legislation both inFinland and internationally, and adjusts its business to meet the latestregulations. For example, Okmetic follows the chemicals regulations of theEuropean Union (REACH) and all Okmetic´s products meet the requirements set inthe RoHS-directive.Okmetic has ISO 9001:2000, TS 16949 and ISO 14001 certified quality andenvironmental systems, and the company's plants have been built withenvironmental considerations in mind. Okmetic expects its most importantsubcontractors and suppliers to comply with the ISO 9001:2000- and ISO 14001-certifications.Okmetic recognises that the use of its main raw material, polysilicon, has animportant environmental impact. The company does not produce essential volumesof emissions or waste, and the resulting costs are not significant from abusiness point of view. On a day-to-day level, Okmetic strives to use materials,water and electricity as efficiently as possible. The company strives to recyclearising waste.Okmetic had no major environmental non-conformities in 2009. The acceptableemission limit values set for waste water treatment were exceeded on twooccasions. In these instances the recorded values were nevertheless only justover the acceptable limits and corrective measures were implemented expediently.Okmetic's environmental management system was found to meet the requirements ofthe company's demanding international customers. The company is not subject toemissions trading regulations.The key figures on environmental protection at the Vantaa plant in 2009 are asfollows:Energy consumption (GWh): electricity 29.1 (28.6), district heating 2.5 (2.2)Water consumption (tm3): water 485 (520), waste water 365 (450)Waste volumes (t): hazardous waste 125 (230), landfill waste 68 (57), recycledwaste 177 (190).BUSINESS RISKSThe Okmetic´s silicon wafer sales are targeted at the sensor and semiconductorproducers in electronics industry. The demand for semiconductor wafers issensitive to economic fluctuations and changes in the market situation can besudden and dramatic. The demand for sensor wafers is more stable. Irregularincome recognition of significant technology projects in technology sales causesconsiderable variation in the results of the review periods. The success of thesales strategy hinges on trouble-free contract manufacturing.Okmetic's share of the global silicon wafer market is around one percent and themarket prices have a notable effect on the price development of Okmetic'sproducts. The majority of sales are conducted in US dollars. The Japanese yen isanother notable trading currency. Despite hedging, the company remainsvulnerable to exchange rate fluctuations.Great volumes of electricity are used in Okmetic's production. Despite hedging,the company is also vulnerable to fluctuations in the price of electricity.SHARES AND SHAREHOLDERSOn 31 December 2009, Okmetic Oyj's paid-up share capital, as entered in theFinnish trade register, was 11,821,250.00 euro. The share capital is dividedinto 16,887,500 shares. The shares have no nominal value attached. Each shareentitles its holder to one vote at general meetings. The company has one classof shares. The company's shares are included in the Finnish book-entrysecurities system. Major shareholders on 31 Dec 2009 Shares, pcs Share, % Outokumpu Oyj 2,705,000 16.0 Ilmarinen Mutual Pension Insurance Company 1,533,626 9.1 OP-Suomi Arvo Equity Fund 1,185,401 7.0 Mandatum Life Insurance Company 800,000 4.7 Etra Invest Oy Ab 500,000 3.0 The State Pension Fund 500,000 3.0 Varma Mutual Pension Insurance Company 477,175 2.8 Arvo Finland Value Fund 400,000 2.4 Carnegie Share Fund 333,639 2.0 Finnish Industrial Investment Ltd. 320,750 1.9 Foreign investors and nominee accounts held by custodian banks 3,885,372 23.0 Others 4,246,537 25.1 Total 16,887,500 100.0 Shareholders by group on 31 Dec 2009 Shares, pcs Share, % Corporations 4,288,222 25.4 Financial and insurance institutions 2,457,669 14.6 Public organisations 2,537,001 15.0 Non-profit organisations 262,197 1.5 Households 3,457,039 20.5 Foreign investors and nominee accounts held by custodian banks 3,885,372 23.0 Total 16,887,500 100.0 Distribution of shareholding on 31 Dec 2009 Number of % of Shares, % of share Shares, pcs shareholders shareholders pcs capital 1-100 369 11.6 29,570 0.2 101-500 1,364 43.0 417,608 2.5 501-1,000 615 19.4 528,018 3.1 1,001-10,000 750 23.7 2,224,286 13.2 10,001-100,000 61 1.9 1,408,352 8.3 100,001-1,000,000 9 0.3 3,573,725 21.2 Over 1,000,000 4 0.1 8,705,941 51.5 Total 3,172 100.0 16,887,500 100.0SHARE PRICE DEVELOPMENT AND TRADINGA total of 4.3 million shares (8.4 million shares) were traded between 1 Januaryand 31 December 2009, representing 25.6 percent (49.5%) of the share total of16.9 million. The lowest quotation of the year was 1.81 euro (2.15 euro) and thehighest 3.20 euro per share (3.14 euro), with the average being 2.54 euro (2.63euro). The closing quotation for the year was 3.20 euro (2.40 euro). At the endof the year, the market capitalisation amounted to 54.0 million euro (40.5million euro).Okmetic is listed on the Small Cap list of NASDAQ OMX Helsinki Ltd under thetrading code OKM1V. According to the Global Industry Classification Standard(GICS), which the exchange uses, Okmetic Oyj is listed under the InformationTechnology sector. The company´s website can be found at www.okmetic.com.OWN SHARESThe company has not repurchased any of its own shares.On 11 February 2010, the board of directors has decided on a purchase scheme ofthe company´s own shares, based on the authorisation given at the extraordinarygeneral meeting on 6 November 2008. The aggregate number of shares repurchasedwill not be more than 280,000. The repurchase will start on 18 February 2010 atthe earliest and it will end on 6 May 2010 at the latest.THE BOARD OF DIRECTORS´AUTHORISATION TO DECIDE ON THE REPURCHASE AND/OR THEACCEPTANCE AS PLEDGE OF THE COMPANY´S OWN SHARESThe shareholders participating in the extraordinary general meeting held on 6November 2008 accepted the board of directors' proposal regarding the board'sauthorisation to repurchase the company's own shares as follows:The aggregate number of shares repurchased on the basis of the authorisationcannot exceed 1,688,750 shares, which represents 10 percent of all the shares ofthe company. The company and its subsidiaries together cannot at any time ownmore than 10 percent of all of the company's registered shares.Only unrestricted shareholders' equity can be used to repurchase the company'sown shares under the authorisation. Own shares can be repurchased at a pricedetermined by public trading on the day of repurchase or at another market-basedprice.The board of directors decides the method of repurchasing the company's ownshares as well as the other terms and conditions. Derivatives, for example, canbe used in the repurchase. Shares can be repurchased independently of theshareholders' proportional share holdings (private placement). The authorisationwill remain in force until the annual general meeting of spring 2010 and in anycase not past 6 May 2010.On 11 February 2010, the board of directors has decided to propose to the annualgeneral meeting, which is to be held on 7 April 2010, that a similarauthorisation for the repurchase and/or acceptance as pledge of the company´sown shares should be granted to the board of directors until the annual generalmeeting of spring 2011, but in any case not past 7 October 2011.The authorisation shall cancel the authorisation granted at the extraordinarygeneral meeting of 6 November 2008 regarding the repurchase of the company´s ownshares.THE BOARD OF DIRECTORS´ AUTHORISATION TO DECIDE ON TRANSFERRING RIGHTS TO THECOMPANY´S OWN SHARESThe shareholders participating in the extraordinary general meeting held on 6November 2008 accepted the board of directors' proposal regarding the board'sauthorisation to transfer rights to the company's own shares as follows:The aggregate number of rights transferred on the basis of the authorisationcannot exceed 1,688,750 shares, which represents 10 percent of all the shares ofthe company.The board of directors has the authority to decide on all the terms andconditions of the share issues. The authorisation is limited to transferringrights to the company's own shares as held by the company. The share issue canbe carried out as a private placement. The board of directors can also cancelany shares it has repurchased. The authorisation will remain in force untilfurther notice, although in any case not past 30 June 2013.AUTHORISATION OF THE BOARD OF DIRECTORS TO INCREASE SHARE CAPITALOn 11 February 2010, the board of directors decided to propose at the annualgeneral meeting to be held on 7 April 2010 that the board should be granted theauthority to decide on new issues and share entitlements according to the firstparagraph of section 10 of the Finnish Companies Act as follows:The aggregate number of shares issued on the basis of the authorisation cannotexceed 3,377,500 shares, which represents approximately 20 percent of all theshares of the company.The board of directors has the authority to decide on all the terms andconditions concerning the issue of shares and other share entitlements. Theauthorisation relates to the issuance of new shares. Issuance of shares andother share entitlements can be carried out as a directed issue.The authorisation is effective until the following annual general meeting ofshareholders and shall not cancel the authorisation granted at the extraordinarygeneral meeting of 6 November 2008 regarding the transfer of the company´s ownshares.The board of directors was granted similar authorisations at the annual generalmeetings held on 3 April 2008 and 2 April 2009.On 25 January 2010, the board of directors has directed, in accordance with theauthorisation granted on 2 April 2009, a share issue of 400,000 new shares tothe company owned by the President and Deputy to the President.CONVERTIBLE BONDS AND OPTION PROGRAMMESOkmetic has no convertible bonds or option programmes at the moment.MANAGEMENT AND AUDITORIn 2009, Okmetic´s board of directors was made up of Henri ?terlund as thechairman, Karri Kaitue as the deputy chairman, and Tapani J?inen, HannuMartola and Pekka Salmi as members of the board.Kai Seikku has been acting as the President of Okmetic Oyj since 25 January2010. Deputy to the President, Executive Vice President, Sales, Mikko Montonenhandled the duties of President 27 October 2009 - 24 January 2010.  AnttiRasilo, M. Sc (Tech.) acted as the President until 27 October 2009.In addition to the president, the group´s executive management group comprisesTapio J??Senior Vice President, Sourcing; Jaakko Montonen, Senior VicePresident, Production; Mikko Montonen, Executive Vice President, Sales andDeputy to the President; Esko Sipil?Senior Vice President, Finance; MarkkuTilli, Senior Vice President, Research; Markus Virtanen, Senior Vice President,Human Resources; and Anna-Riikka Vuorikari-Antikainen, Senior Vice President,Product Development.The company´s auditors are PricewaterhouseCoopers Oy, Authorised PublicAccountants, with Markku Marjomaa, Authorised Public Accountant, acting as theprincipal auditor.THE BOARD OF DIRECTORS´ PROPOSAL REGARDING DIVIDEND DISTRIBUTIONAccording to the financial statements dated 31 December 2009, the parentcompany´s distributable earnings amount to 15,971,251.05 euro. No significantchanges have taken place in the company´s financial position after the end ofthe financial year.The board of directors of Okmetic Oyj proposes to the annual general meetingthat Okmetic Oyj pay a dividend of 0.05 euro per share for 2009, which, based onthe 16,887,500 shares registered on 11 February 2010 and 400,000 sharesregistered in the directed share issue on 25 January 2010, amount to 864,375.00euro.CONDENSED FINANCIAL STATEMENTS AND TABLES 1 JANUARY - 31 DECEMBER 2009ACCOUNTING POLICIESThis financial statement release has been prepared in accordance with IAS 34,Interim Financial Reporting.In preparing this financial statement release, Okmetic has followed the sameaccounting policies as in the financial statements for 2008 except that thecompany has adopted the following new or revised standards as of 1 January 2009:- IAS 1 (Revised), Presentation of Financial Statements. The revised standardaffects the way the income statement and the statement of changes in equity arepresented.- IFRS 8, Operating Segments. The standard does not affect the informationpresented for segments, because the segment data provided by the group havealways been based on the group's internal reporting structure.- IFRS 7 (Amendment), Enhancing Disclosures on Financial Instruments. Theamendment requires enhanced disclosures about fair value measurement andliquidity risk.- IAS 1 (Amendment), Current Assets and Current Liabilities. As a result of theamendment the group reclassified derivatives in held for trading category asnon-current in case they mature after 12 months and the group does not hold themprimarily for trading purposes.CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 1,000 euro 1.10.- 1.10.- 1.1.- 1.1.- 31.12.09 31.12.08 31.12.09 31.12.08 Net sales 13,812 15,751 54,361 67,867 Cost of sales -12,602 -11,545 -47,883 -50,687 Gross profit 1,210 4,206 6,478 17,180 Other income and expenses -1,407 -3,097 -6,208 -8,704 Operating profit/loss -197 1,108 270 8,476 Financial income and expenses 1 -2,432 -860 -2,900 Profit/loss before tax -196 -1,323 -590 5,576 Income tax -148 206 77 248 Profit/loss for the period -344 -1,117 -513 5,825 Other comprehensive income: Translation differences 73 196 -220 560 Available-for-sale financial assets - 1,013 - 114 Other comprehensive income for the period, net of tax 73 1,210 -220 674 Total comprehensive income for the period -271 93 -733 6,499 Profit/loss for theperiod attributable to: Equity holders of the parent company -344 -1,117 -513 5,825 Total comprehensive income attributable to: Equity holders of the parent company -271 93 -733 6,499 Basic and diluted earnings per share, euro -0.02 -0.07 -0.03 0.34CONDENSED CONSOLIDATED BALANCE SHEET 1,000 euro Dec 31, Dec 31, 2009 2008 Assets Non-current assets Property, plant and equipment 33,174 38,848 Other receivables 3,398 4,619 Total non-current assets 36,572 43,468 Current assets Inventories 7,164 10,753 Receivables 10,950 9,289 Cash and cash equivalents 7,307 17,975 Total current assets 25,422 38,016 Total assets 61,994 81,484 Equity and liabilities Equity Equity attributable to equity holders of the parent company Share capital 11,821 11,821 Other equity 36,921 38,568 Total equity 48,742 50,389 Liabilities Non-current liabilities 3,143 14,027 Current liabilities 10,109 17,068 Total liabilities 13,252 31,095 Total equity and liabilities 61,994 81,484CONDENSED CONSOLIDATED CASH FLOW STATEMENT 1,000 euro Jan 1- Jan 1- Dec 31, 2009 Dec 31, 2008 Cash flows from operating activities: Profit/loss before tax -590 5,576 Adjustments 7,183 11,272 Change in working capital 289 -2,935 Interest received 245 424 Interest paid and other financial items -812 -1,135 Tax paid -1 -26 Net cash from operating activities 6,315 13,177 Cash flows from investing activities: Proceeds from investing activities 641 469 Capital expenditure -1,694 -2,646 Net cash used in investing activities -1,053 -2,177 Cash flows from financing activities: Repayments of long-term borrowings -14,823 -4,748 Payments of finance lease liabilities -117 -198 Dividends paid -844 -1,689 Net cash used in financing activities -15,784 -6,634 Increase(+) / decrease(-) in cash and cash equivalents -10,523 4,365 Exchange rate changes -145 301 Cash and cash equivalents at the beginning of the period 17,975 13,308 Cash and cash equivalents at the end of the period 7,307 17,975CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY       Equity attributable to equity holders of parent company 1,000 euro Share Share Trans-lation Fair Retained Total capi-tal pre-mium diffe-rences value earnings equity re-serve Balance at 31 Dec 2008 11,821 20,115 635 - 17,818 50,389 Total Comprehensive income for the period -220 -513 -733 Dividend distribution -844 -844 Equity component of convertible loan notes -70 -70 Balance at 31 Dec 2009 11,821 20,045 415 - 16,461 48,742 Balance at 31 Dec 2007 11,821 20,185 75 -114 13,682 45,649 Total Comprehensive e income for the period 560 114 5,825 6,499 Dividend distribution -1,689 -1,689 Equity component of convertible loan notes -70 -70 Balance at 31 Dec 2008 11,821 20,115 635 - 17,818 50,389CHANGES IN PROPERTY, PLANT AND EQUIPMENT 1,000 euro Jan 1- Jan 1- Dec 31, 2009 Dec 31, 2008 Carrying amount at the beginning of the period 38,848 43,355 Additions 1,448 2,773 Disposals - -537 Depreciation -6,936 -7,041 Exchange differences -187 298 Carrying amount at the end of the period 33,174 38,848CHANGES IN FINANCIAL LIABILITIES 1,000 euro Jan 1- Jan 1- Dec 31, 2009 Dec 31, 2008 Carrying amount at the beginning of the period 17,389 22,259 Proceeds of loans from financial institutions - 999 Repayments of loans from financial institutions -13,806 -4,744 Repayments of subordinated loans -928 -928 Changes in finance lease liabilities -117 -198 Carrying amount at the end of the   1 period 2,538 7,389DIVIDENDS PAIDIn April, the company distributed a dividend of 0.8 million euro of the profitaccrued in 2008, representing a 0.05 euro dividend per share.COMMITMENTS AND CONTINGENCIES 1,000 euro Dec 31, 2009 Dec 31, 2008 Loans secured with collaterals 2,500 13,333 Collaterals 8,073 24,964 Off-balance sheet lease commitments 83 165 Capital commitments 111 574 Nominal values of derivative contracts Currency forward agreements 1,385 - Electricity derivatives 2,520 2,961 Interest rate swaps 6,429 - Fair values of derivative contracts Currency forward agreements -4 - Electricity derivatives -258 -540 Interest rate swaps -49 -The contract price of the derivatives has been used as the nominal value of theunderlying asset. Derivative contracts are for hedging.RELATED PARTY TRANSACTIONSTop management compensation during the period under review amounted to1,497,000 euro (1,506,000 euro).KEY FIGURES SHOWING FINANCIAL PERFORMANCE 1,000 euro Jan 1- Jan 1- Dec 31, 2009 Dec 31, 2008 Net sales 54,361 67,867 Change in net sales compared to the previous year´s period, % -19.9 5.0 Export and foreign operations share of net sales, % 95.4 95.6 Operating profit before depreciation (EBITDA) 7,206 15,517     % of net sales 13.3 22.9 Operating profit 270 8,476     % of net sales 0.5 12.5 Profit/loss before tax -590 5,576     % of net sales -1.1 8.2 Return on equity, % -1.0 12.1 Return on investment, % 0.0 9.9 Non-interest-bearing liabilities 10,715 13,707 Net interest-bearing liabilities -4,770 -586 Net gearing ratio, % -9.8 -1.2 Equity ratio, % 78.9 62.8 Capital expenditure 1,448 2,773     % of net sales 2.7 4.1 Depreciation 6,936 7,041 Research and development expenditure 1) 2,134 2,261     % of net sales 3.9 3.3 Average number of personnel during the period 337 364 Personnel at the end of the period 327 3631) Research and development expenditure has been presented in gross figures andonly long-term projects based on research program have been taken into account.KEY FIGURES PER SHARE Euro Dec 31 2009 Dec 31 2008 Earnings per share basic and diluted -0.03 0.34 Equity per share 2.89 2.98 Dividend per share 0.05 0.05 Dividends/earnings, % -164.7 14.5 Effective dividend yield, % 1.6 2.1 Price/earnings (P/E) -105.4 7.0 Share price performance (Jan 1-) Average trading price 2.54 2.63 Lowest trading price 1.81 2.15 Highest trading price 3.20 3.14 Trading price at the end of the period 3.20 2.40 Market capitalisation at the end of the period, 1,000 euro 54,040 40,530 Trading volume (Jan 1-) Trading volume, transactions 4,316,320 8,355,374 In relation to weighted average number of shares, % 25.6 49.5 Trading volume, euro 10,957,275 22,002,739 The weighted average number of shares during the period under review adjusted by the share issue 16,887,500 16,887,500 The number of shares at the end of the period adjusted by the share issue 16,887,500 16,887,500QUARTERLY KEY FIGURES   10-12/09 7-9/09 4-6/09 1-3/09 Net sales 13,812 12,171 13,538 14,841   Compared to previous   quarter % 13.5 -10.1 -8.8 -5.8 Operating profit/loss -197 -748 688 527   % of net sales -1.4 -6.1 5.1 3.6 Profit/loss before tax -196 -1,257 46 818   % of net sales -1.4 -10.3 0.3 5.5 Net cash flow generated from: Operating activities 1,858 192 4,761 -496 Investing activities -28 -87 -786 -152 Financing activities -11,821 -22 -3,905 -37 Increase/decrease in cash and cash equivalents -9,991 83 70 -685 Personnel at the end of the period 327 335 343 338   10-12/08 7-9/08 4-6/08 1-3/08 Net sales 15,751 18,090 16,992 17,034   Compared to previous   quarter % -12.9 6.5 -0.2 7.9 Operating profit 1,108 2,089 2,737 2,542   % of net sales 7.0 11.5 16.1 14.9 Profit/loss before tax -1,323 2,683 2,582 1,634   % of net sales -8.4 14.8 15.2 9.6 Net cash flow generated from: Operating activities 2,878 4,522 3,495 2,281 Investing activities -716 -289 -841 -331 Financing activities -1,912 -48 -4,616 -58 Increase/decrease in cash and cash equivalents 250 4,185 -1,962 1,892 Personnel at the end of the period 363 361 370 359DEFINITIONS OF KEY FINANCIAL FIGURES Operating profit before depreciation = Operating profit + depreciation (EBITDA) Return on equity, % (ROE) = Profit/loss for the period from continuing operations x 100/ -----------------------------------------     Equity(Average for the period) Return on investment, % (ROI) = (Profit/loss before tax + interest and other financial expenses) x 100/ -----------------------------------------     Balance sheet total - non-interest bearing liabilities(average for the period) Equity ratio, % = Equity x 100/ -----------------------------------------     Balance sheet total - advances received Net interest-bearing liabilities   Interest-bearing liabilities - cash and cash equivalents Net gearing ratio, % = (Interest-bearing liabilities - cash and cash equivalents)x 100/ -----------------------------------------     Equity Earnings per share = Profit/loss for the period attributable to the equity holders of the parent company/ -----------------------------------------     Adjusted weighted average number of shares in issue during the period Equity per share = Equity attributable to the equity holders of the parent company/ -----------------------------------------     Adjusted number of shares at the end of the period Dividend per share = Dividend for the period/ -----------------------------------------     Adjusted number of shares at the end of the period Effective dividend yield, % = Dividend per share x 100/ -----------------------------------------     Trading price at the end of the period Price/earnings ratio (P/E) = Last adjusted trading price at the end of the period/ -----------------------------------------     Earnings per share Average trading price = Total traded amount in euro/ -----------------------------------------     Adjusted number of shares traded during the period Market capitalisation at the end of = Number of shares at the end of the the period period x trading price at the end of the period Trading volume = Number of shares traded during the period/ -----------------------------------------     Weighted average number of shares during the periodAll figures of the financial tables are rounded, and consequently the sum ofindividual figures can deviate from the presented sum figure.In the written report, the figures in parenthesis refer to the correspondingperiod in the previous year.The future estimates and forecasts in this financial statement release are basedon company management´s current knowledge. Actual events and results may differfrom the estimates presented here.OKMETIC OYJBoard of directorsFor further information, please contact:President Kai Seikku, Okmetic Oyj,tel. +358 9 5028 0232, email: kai.seikku(at)okmetic.comSenior Vice President, Finance Esko Sipil?Okmetic Oyj,tel. +358 9 5028 0286, email: esko.sipila(at)okmetic.comDistribution:NASDAQ OMX HelsinkiPrincipal mediawww.okmetic.com OKMETIC IN BRIEFTake it higherOkmetic is a technology company which supplies tailor-made silicon wafers forsensor and semiconductor industries and sells its technological expertise to thesolar cell industry. Okmetic provides its customers with solutions that boosttheir competitiveness and profitability.Okmetic's silicon wafers are part of a further processing chain that producesend products that improve human interaction and quality of life. Okmetic'sproducts are based on high-tech expertise that generates added value forcustomers, innovative product development and an extremely efficient productionprocess.Okmetic has a global customer base and sales network, production plants inFinland and the US and contract manufacturers in Japan and China. Okmetic'sshares are listed on NASDAQ OMX Helsinki under the code OKM1V. For moreinformation on the company, please visit our website at www.okmetic.com.[HUG#1383439] Financial Statement Release: http://hugin.info/132025/R/1383439/342337.pdf

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