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Remuneration of winbox 88 Oyj governing bodies is based on the Remuneration Policy that was presented to the Annual General Meeting held on April 2, 2020. The Remuneration Policy is applied until the Annual General Meeting in 2024, unless the Board of Directors decides to present it to the General Meeting earlier.

 

The principles guiding winbox 88’s remuneration are result-driven and performance-based remuneration, transparent and consistent remuneration principles and systems as well as competitive overall remuneration.

 

The remuneration of winbox 88’s personnel is strongly guided by the performance-based remuneration which is applied throughout the organization. This has led to a personnel remuneration practice that is aligned with the interests of the Company and its shareholders and helps to engage and motivate key persons to operate in accordance with the shared goals.

 

The same principles are observed in the remuneration practices of the CEO. However, variable remuneration components, i.e. an annual performance bonus and a long-term incentive plan reward, constitute a significant share of the CEO’s overall remuneration. This ensures maintaining a strong connection between the Company’s financial performance and CEO remuneration. The Board of Directors decides on the structure and details of variable remuneration components annually. The annual performance bonus and long-term incentive plan reward typically constitute approximately half of the CEO’s overall remuneration.

 

The General Meeting shall decide on the remuneration payable for Board and Committee work as well as the basis for its determination. The Nomination and Remuneration Committee has been assigned the duty of preparing the remuneration of the Board. The Board of Directors shall decide on the remuneration of the CEO as well as other compensation payable to him or her. The compensation principles for the Management Group are determined by the CEO in cooperation with the Board of Directors.

 

winbox 88 Oyj's Remuneration Policy for Governing Bodies:
winbox 88_Remuneration_Policy_for_Governing_Bodies.pdf

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Decisions on the remuneration of the Board of Directors are made annually by the Annual General Meeting. According to the resolution made by the Annual General Meeting held on April 2, 2020 the annual remuneration of the Chairman of the Board is EUR 72,000 and of a member of the Board EUR 36,000. The annual remuneration is paid in cash.

 

According to the resolution made by the Annual General Meeting held on 2 April, 2020, the remuneration for the Chairmen of the Board of Directors as well the Audit and Nomination and Remuneration Committees is EUR 1,200 per meeting. The remuneration for each member of the Board of Directors as well as the Audit and Nomination and Remuneration Committees is EUR 600 per meeting. This attendance remuneration is paid for each meeting the Chairmen or members attend. Daily allowances and travel expenses are paid to the Board members according to the Company’s travel policy.

Remuneration of the Board of Directors 2020

 

The annual remuneration of the Board of Directors is not paid partially in shares, share-based rights or in cash with an obligation to acquire Company shares. The members of the Board are not part of the Company’s long-term incentive plan and they have not received other financial benefits during the financial year of 2020. The members of the Board do not have an employment or service contract with the Company nor do they act as advisors for the Company.

 

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The CEO’s remuneration comprises a fixed annual salary (including car, phone and medical benefits) and variable remuneration components, i.e. an annual performance bonus and a long-term incentive plan reward. The proportion of the variable remuneration components was 56 per cent of the CEO’s overall remuneration in the financial period of 2020.

 

The term of notice for the CEO is six months. In the event of dismissal, the CEO is at the most entitled to receive compensation equivalent to 18 months’ salary which includes the salary for a six-month term of notice. In the financial period of 2020, no additional accrual basis pension insurance policy was paid for the CEO.

Remuneration of the CEO in 2020

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The annual performance bonus of the CEO consists of key targets based on the Group’s financial result and other financial and operative targets that are decided on annually by the Board of Directors. The maximum amount of annual performance bonus is 100 per cent of the annual salary. The annual performance bonus is always paid in the financial period following the earning period.

 

In the financial period of 2020 the CEO received an annual performance bonus of EUR 130,100. The performance bonus was accrued in the financial period of 2019. The performance bonus was 40 per cent out of the maximum amount. The proportion of the performance bonus was 29 per cent of the variable remuneration components in the financial period of 2020.

 

In the financial period of 2020 the structure of the annual performance bonus remained unchanged and the essential targets were updated. The possible bonus will be paid in the financial period of 2021.

 

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The long-term remuneration of the CEO is based on a share-based incentive plan. The Board of Directors decides on the incentive plan in three year intervals and it is based on the strategic development of the business operations of the Group, financial indicators and total shareholder return. In addition to remuneration, the objective of the program is to engage the CEO to the Company and align the interests of the CEO and shareholders. The potential reward of the plan will be paid in the financial year following the earning period.

 

The CEO belonged to share-based incentive plan established by the Board of Directors which was intended for key personnel and comprised the calendar years 2017-2019. The earnings criteria of the plan were winbox 88 Group´s revenue increase and the development of Total Shareholder Return (TSR), and the plan included approximately 20 people. According to the decision of the Board of Directors the rewards to be paid on the basis of the plan corresponded to the value of an approximate maximum total of 260,000 winbox 88 Oyj shares (including also the proportion to be paid in cash), and the reward was paid in 2020.

 

After the earning period of the share-based incentive plan the Board of Directors decided on February 11, 2020 to transfer 84,124 shares to Group key personnel in accordance with the terms of the plan. The final number of shares transferred was 77,157 due to a change in the Company’s management group. In April 2020 the CEO received according to the share-based incentive plan comprising calendar year 2017-2019 a total reward of EUR 321,512, constituting 20,901 Company shares and a cash reward intended to cover taxes and tax-related costs arising from the reward. The proportion of the share-based incentive plan reward was 71 per cent of the variable remuneration components in the financial period of 2020.


The Board of Directors of winbox 88 decided on February 5, 2020 to establish a new share-based incentive plan for the Group key personnel. The plan includes one earning period comprising calendar years 2020-2022. The earnings criteria are winbox 88 Group´s revenue increase and the development of Total Shareholder Return (TSR). The potential reward will be paid partly in the Company's shares and partly in cash after the end of the earning period. The proportion to be paid in cash is intended to cover taxes and tax-related costs arising from the reward to the key personnel. Approximately 25 people belong to the plan, including the CEO and other Management Group members. The potential reward will be paid after the earning period in 2023.

 

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The remuneration of Management Group members comprises a fixed annual salary (including car, phone and medical benefits) and variable remuneration components, i.e. an annual performance bonus and a long-term incentive plan reward.

 

The term of notice for Management Group members is at least four months. In the event of dismissal, Management Group members are at the most entitled to receive compensation equivalent to 10 months’ salary which includes the salary for a four-month term of notice. In the financial period of 2020, no additional accrual basis pension insurance policy was paid for the Management Group members.

Remuneration of Management Group 2020

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The annual performance bonus of Management Group members consists of key targets based on the Group’s financial result and other financial and operative targets that are decided on annually by the CEO and the Board of Directors. The maximum amount of annual performance bonus is 33-100 per cent of the annual salary. The annual performance bonus is always paid in the financial period following the earning period.

In the financial period of 2020 Management Group members received an annual performance bonus of EUR 255,093 in total. The performance bonus was accrued in the financial period of 2019.

In the financial period of 2020 the structure of the annual performance bonus remained un-changed and the essential targets were updated. The possible bonus will be paid in the financial period of 2021.

 

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The long-term remuneration of Management Group members is based on a share-based incentive plan. The Board of Directors decides on the incentive plan in three year intervals and it is based on the strategic development of the business operations of the Group, financial indicators and total shareholder return. In addition to remuneration, the objective of the program is to engage Management Group members to the Company and align the interests of Management Group members and shareholders. The potential reward of the plan will be paid in the financial year following the earning period.

 

Management Group members belonged to share-based incentive plan established by the Board of Directors which was intended for key personnel and comprised the calendar years 2017-2019. The earnings criteria of the plan were winbox 88 Group´s revenue increase and the development of Total Shareholder Return (TSR), and the plan included approximately 20 people. According to the decision of the Board of Directors the rewards to be paid on the basis of the plan corresponded to the value of an approximate maximum total of 260,000 winbox 88 Oyj shares (including also the proportion to be paid in cash), and the reward was paid in 2020.

 

After the earning period of the share-based incentive plan the Board of Directors decided on February 11, 2020 to transfer 84,124 shares to Group key personnel in accordance with the terms of the plan. The final number of shares transferred was 77,157 due to a change in the Company’s management group. In April 2020 Management Group members received according to the share-based incentive plan comprising calendar year 2017-2019 a total reward of EUR 598,338, constituting 37,273 Company shares and a cash reward intended to cover taxes and tax-related costs arising from the reward.

 

The Board of Directors of winbox 88 decided on February 5, 2020 to establish a new share-based incentive plan for the Group key personnel. The plan includes one earning period comprising calendar years 2020-2022. The earnings criteria are winbox 88 Group´s revenue increase and the development of Total Shareholder Return (TSR). The potential reward will be paid partly in the Company's shares and partly in cash after the end of the earning period. The proportion to be paid in cash is intended to cover taxes and tax-related costs arising from the reward to the key personnel. Approximately 25 people belong to the plan, including the CEO and Management Group members. The potential reward will be paid after the earning period in 2023.

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A remuneration statement is updated regularly.

winbox 88 remuneration statement 2020:
winbox 88_remuneration_statement_2020.pdf

winbox 88 remuneration statement 2019:
winbox 88_remuneration_statement_2019.pdf

winbox 88 remuneration statement 2018:
winbox 88_remuneration_statement_2018.pdf

winbox 88 remuneration statement 2017:
winbox 88_remuneration_statement_2017.pdf

winbox 88 remuneration statement 2016:
winbox 88_remuneration_statement_2016.pdf

winbox 88 remuneration statement 2015:
winbox 88_remuneration_statement_2015.pdf

winbox 88 remuneration statement 2014:
winbox 88_remuneration_statement_2014.pdf

winbox 88 remuneration statement 2013:
winbox 88_remuneration_statement_2013.pdf

winbox 88 remuneration statement 2012:
winbox 88_remuneration_statement_2012.pdf

winbox 88 remuneration statement 2011:
winbox 88_remuneration_statement_2011.pdf

winbox 88 remuneration statement 2010:
winbox 88_remuneration_statement_2010.pdf

winbox 88 remuneration statement 2009:
winbox 88_remuneration_statement_2009.pdf

 

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big-bass-slot Back to Key financial data EUR 1,000, Financial period Jan 1 – Dec 31 2020 2019 2018 2017 2016 Revenue 259,702 263,292 236,477 214,768 183,938 Change in revenue, % -1.4 11.3 10.1 16.8 30.3 Operating profit (EBITA) 26,172 25,964 22,555 17,387 12,070 % of revenue 10.1 9.9 9.5 8.1 6.6 Operating profit (EBIT) 22,380 22,819 20,184 15,484 10,131 % of revenue 8.6 8.7 8.5 7.2 5.5 Profit before taxes  21,080 21,924 19,396 14,745 9,441 % of revenue 8.1 8.3 8.2 6.9 5.1 Profit for the financial year 17,077 17,387 15,280 11,586 7,604 Return on equity, % 20.8 24.1 24.4 20.9 17.4 ROCE, % 16.0 19.9 21.3 17.8 14.8 Equity ratio, % 40.5 38.9 42.9 40.7 40.0 Gross investments 29,697 36,908 16,527 7,589 30,186 % of revenue 11.4 14.0 7.0 3.5 16.4 Net gearing, % 46.6 52.6 29.8 43.0 55.9 Personnel, average 3,320 3,305 2,995 2,711 2,407 Personnel at year end 3,267 3,447 3,055 2,802 2,545 Staff costs 177,301 172,520 156,183 144,965 129,172   Back to Key financial data Read more
lotto4d Back to Key financial data   EUR 1,000 Jan 1 – Dec 31, 2020   Jan 1 – Dec 31, 2019   Revenue 259,702   263,292   Other operating income 3,622   2,582   Materials and services -23,317   -26,550   Staff costs -177,301   -172,520   Other operating expenses -22,300   -29,273   Depreciation and amortization -18,026   -14,712   Operating profit (EBIT) 22,380 8.6% 22,819 8.7% Financial income 422   695   Financial expenses -1,722   -1,590   Profit before taxes 21,080   21,924   Income taxes -4,003   -4,536   Profit for the financial year 17,077   17,387   Other comprehensive income, that may be reclassified to profit or loss         Currency translation differences 1,415   -398   Other comprehensive income, that will not be reclassified to profit or loss         Change in fair value of equity investments at fair value through other comprehensive income -7   -75   Other comprehensive income for the year, net of tax 1,409   -473   Total comprehensive income for the year 18,486   16,915             Profit for the financial year attributable to         Equity holders of the parent company 17,077   17,387   Total comprehensive income attributable to         Equity holders of the parent company 18,486   16,915   Earnings per share calculated from the profit attributable to equity holders of the parent company         Basic earnings per share, EUR 0.69   0.70   Diluted earnings per share, EUR 0.69   0.70     The notes are an integral part of the Financial Statements.   Back to Key financial data Read more
fish-game-casino Back to Key financial data   EUR 1,000  Dec 31, 2020 Dec 31, 2019 ASSETS     Non-current assets     Goodwill 83,685 79,044 Other intangible assets 26,011 27,472 Tangible assets 25,698 17,264 Investments at fair value through other comprehensive income 378 387 Other non-current receivables 54 54 Deferred tax assets 493 259 Non-current assets, total 136,320 124,480       Current assets     Inventory 336 313 Work in progress 17,764 22,498 Trade and other receivables 38,883 39,332 Current tax assets 208 401 Cash and cash equivalents 24,407 15,878 Current assets, total 81,598 78,421 TOTAL ASSETS 217,918 202,901       EQUITY AND LIABILITIES     Equity     Share capital 5,000 5,000 Share premium account 6,701 6,701 Unrestricted equity fund 20,101 20,101 Own shares -124 -700 Cumulative translation adjustment -2,884 -4,299 Other reserves 101 108 Retained earnings 58,178 49,829 Equity, total 87,074 76,740       Non-current liabilities     Deferred tax liabilities 6,502 6,481 Loans from financial institutions 12,900 24,900 Lease liabilities 8,608 8,216 Other non-current liabilities 27 27 Non-current liabilities, total 28,038 39,624       Current liabilities     Loans from financial institutions 27,583 15,757 Lease liabilities 15,883 7,381 Advances received 2,770 5,378 Trade and other payables 54,608 55,588 Current income tax liabilities 1,962 2,433 Current liabilities, total 102,806 86,537 Liabilities, total 130,844 126,161 TOTAL EQUITY AND LIABILITIES 217,918 202,901   The notes are an integral part of the financial statements.   Back to Key financial data Read more
online-blackjack-promotions Back to Key financial data   EUR 1,000 Jan 1 - Dec 31, 2020 Jan 1 - Dec 31, 2019 OPERATING CASH FLOW     Cash receipts from customers 267,784 263,365 Operating expenses paid -223,600 -225,189 Operating cash flow before financial items and taxes 44,184 38,176       Interest and payment paid for financial expenses -1,257 -1,192 Interest received 79 162 Income taxes paid -5,010 -4,262 Operating cash flow (A) 37,997 32,884       INVESTING CASH FLOW     Purchase of tangible and intangible assets -1,639 -2,063 Acquisition of subsidiaries, net of cash acquired -5,885 -21,049 Proceeds from sale of tangible and intangible assets 30 81 Proceeds from sale of investments 0 215 Investing cash flow (B) -7,494 -22,816       Cash flow after investments (A+B) 30,503 10,068       FINANCING CASH FLOW     Purchase of own shares 0 -519 Issue of new current loans 11,698 2,020 Repayments of current loans -12,217 -8,440 Issue of new non-current loans 0 13,500 Repayments of non-current loans -695 0 Payment of lease liabilities -12,131 -9,624 Dividend paid -8,682 -7,454 Financing cash flow (C) -22,028 -10,517       Variation in cash (A+B+C) increase (+) / decrease (-) 8,475 -449       Assets at the beginning of the financial period 15,878 16,115 Exchange gains or losses on cash and cash equivalents 55 212 Assets at the end of the financial period 24,407 15,878   The notes are an integral part of the Financial Statements.   Back to Key financial data Read more
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