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Overview of QPR

We innovate, develop and sell software and services aimed at analyzing, monitoring and modeling operations in organizations.

We focus our product development to meet the increasing challenges organizations face in leading their operations in digitalizing world.

Our business areas are process mining, process modeling, enterprise architecture modeling and performance management.

Why invest in QPR Software?

  1. We have strongly renewed our software product portfolio in recent years and target international sales growth for our new products.
  2. Our business model is highly scalable.
  3. We have consistently maintained a strong cash flow from operating activities.
  4. Approximately half of our revenue is recurring.
  5. Our customer churn is low. Software rental and maintenance contracts have an average lifecycle of approximately 10 years.

Outlook for 2021

In 2020, the coronavirus pandemic had a negative impact especially on new software sales. Customers postponed new purchases of our software offering due to uncertainties in their own future outlook, as well as due to uncertainties related to operating through remote work and in lock-down circumstances.

The exceptional circumstances caused by the pandemic will continue to have an impact on our business in the first months of this year, but we are already seeing signs of normalization in software purchase decisions. Based on actual sales performance in early 2020 and current sales funnel, QPR expects net sales to grow in 2021 (2020: EUR 8,971 thousand). At the end of 2020, our software sales funnel size increased by well over 20% compared to a time one year ago and before the pandemic. Furthermore, service sales funnel increased even more than software sales funnel.

QPR plans to moderately increase its sales, marketing and product development costs this year. The Company estimates EBITDA and operating result to improve compared to 2020, despite the planned increase in costs

Updated 4/2021

Our Strategy

Updated 03/2019

Mission, strategy, and markets

QPR Software's mission is to make customers agile and efficient in their operations.

Our values are reliability, respect and long-term success together. They define our operating culture and thus create the foundation for our future success and growth.

We innovate, develop and sell software for analyzing, monitoring and modeling organizational operations. Furthermore, we offer customers consulting services in operational development and digital business optimization.

In our product development we focus on meeting the challenges our client organizations face, especially in leading and optimizing their operations in a digitalizing world. Our primary focus area is process mining and analytics. We believe that this market will grow significantly, as companies collect increasing amounts of transaction and event data from their operations.

We will further accelerate product development by increasing our resources in a controlled manner. In software development, we place special focus on excellent user experience.

We also actively seek strategic partnerships to strengthen our productdevelopment and international software sales.

Strategic targets

Our target is to grow our net sales by an average of 15 - 20 % per annum over the next three years. The target is mainly based on growth in international software sales and consulting services in our home market, Finland. 

We foresee significant growth potential especially in the process mining and analytics business, where we aim for an annual growth of more than 50 %. Our target is to gain a significant market share in this rapidly growing market. 

Over the next few years, we seek growth especially in our international software sales.

Our offering

We offer our customers tools for modeling, measuring and analyzing their operations efficiently. Our tools provide customers insight into their operations, enabling them to streamline and improve their business operations.
 
In our home market, Finland, we mostly sell and deliver software and provide consulting services directly to our customers.
 
In process and enterprise architecture modeling software, we are the local market leader with an approximated 50 % market share.
 
In process mining and analytics, we are clearly leading the local market and are among the most advanced companies in the world. The U.S. Patent and Trademark Office has granted us two patents for the technology behind this software.
 
In international markets, we sell software through our own direct sales force, as well as an extensive reseller network extending to over 50 countries. The most sold product in our reseller network is our performance management software, QPR Metrics.

Our markets

The process mining and analytics market is in an early phase of its life cycle and is growing rapidly. According to market research companies, the size of this global software market in 2018 was approximately EUR 100 - 200 million. The rapid growth is expected to continue in the coming years, and the market size to exceed EUR 1 billion in 2023.
 
The process and enterprise architecture modeling market is mature and growing moderately. The size of this software market is estimated to exceed EUR 500 million.
 
The strategic corporate performance management software market is mature and growing moderately. The size of this software market is estimated at over EUR 300 million. 

Financial Information

Overview

Updated 03/2021

Key Figures (IFFRS)

(EUR 1,000 or %)

2020

2019

Net sales

8 971

9 513

Change of net sales, %   

-5,7

-5,3

Operating result

-936

-213

- percent of net sales  

-10.6

-2.2

Result before tax   

-952

-240

Result for the period

-812

-161

- percent of net sales 

-9.0

-2.5

Cash and cash equivalents

185

1 035

Gearing, %

38

-9.1

Earnings per Share, EUR

-0.068

-0.013

Equity per Share, EUR

0.161

0.222

Equity Ratio, %  

34.6

44.5

Return on Investment (p.a.), %     

-28.0

-5.9

Dividend, €/share

0.000

0.000

 

Consolidated Comprehensive Income Statement (IFRS)

(EUR 1,000)

2020

2019

Net sales

8 971

9 513

Other operating income

100

0

Materials and services

1 422

1 143

Employee benefit expenses

6 649

6 455

Depreciation and amortization

1 183

1 250

Other operating expenses

753

878

Total expenses

10 007

9 727

Operating result

-936

-213

Financial income

27

25

Financial expenses

-43

-51

Financial items, net

-16

-26

Result before tax

-952

-240

Income taxes

140

78

Result for the period

-812

-161


Other items in comprehensive income that may be reclassified subsequently to profit or loss:

Exchange differences on translating foreign operations

-2

-5

Other items in comprehensive income,
net of tax

-2

-5

Total comprehensive income, net of tax

-814

-166

     

Earnings per share, EUR

   

Undiluted

-0.068

-0.013

Diluted

-0.068

-0.013

 

Consolidated Balance Sheet (IFRS)

(EUR 1,000)

2020

2019

ASSETS

6 317

7 007

 

 

 

Non-current assets

 

 

Capitalized product development expenses

1 801

1 709

Other intangible assets

254

335

Goodwill

513

513

Tangible assets

387

371

Other investments

5

5

Deferred tax assets

273

136

Total non-current assets

3 231

3 068

 

 

 

 

Current assets

 

 

Trade and other receivables

2 901

2 904

Cash and cash equivalents

185

1 035

Total current assets

3 086

3 939

Total assets

6 317

7 007

 

EQUITY AND LIABILITIES

 

 

Equity

 

 

Share capital

1 359

1 359

Other funds

21

21

Treasury shares

-439

-439

Translation difference

-69

-66

Invested non-restricted equity fund

5

5

Retained earnings

 1 126

1 882

Equity attributable to shareholders of the parent company

2 004

2 762

 

 

 

 

Current liabilities

 

 

Trade and other payables

3 366

3 461

Total current liabilities

4 313

4 245

Total liabilities

4 313

4 245

Total equity and liabilities

6 317

7 007

 

Consolidated Cash Flow Statement (IFRS)

(EUR 1,000)

2020

2019

Cash flow from operating activities

 

 

Result for the period

-812

-161

Adjustments to the result

   

  Depreciation

1 183

1 250

  Other adjustments

-49

0

Working capital changes:

   

Increase(-)/decrease(+) in short-term non-interest bearing receivables

165

601

Increase(+)/decrease(-) in short-term non-interest bearing liabilities

-120

-296

Interest and other financial expenses paid

-40

-51

Interest and other financial income received

27

25

Income taxes paid

-21

-18

Net cash from operating activities

334

1 349 

 

 

 

 

Cash flows from investing activities

 

 

Purchases of tangible assets

-158

-54

Capitalized development expenses

-825

-788

Acquisitions of other intangible assets

-115

-200

Net cash used in investing activities

- 1 098

-1 041 

 

 

 

 

Cash flow from financing activities

 

 

Repayments of long-term borrowings

-761

-278

Dividends paid

-

-

Net cash used in financing activities

-61

222 

Net change in cash and cash equivalents

-825

530 

 

 

 

Cash and cash equivalents at the beginning of year

1 035

505

Effect of exchange rate differences

-25

0

Cash and cash equivalents at the end of year

185

1 305

 

 



Definition of Key Indicators

Return on equity (ROE), %:
(Profit for the period x 100) / (Shareholders' equity (average))

Return on investment (ROI), %
(Profit before taxes + interest and other financial expenses) x 100
Balance sheet total - non-interest bearing liabilities (average)

Equity ratio, %:
(Total equity x 100) / (Balance sheet total - advances received)

Gearing, %:
((Interest-bearing liabilities - cash and cash equivalents) x 100) / (Total equity)

Earnings per share, euro:
(Profit for the period attributable to the shareholders of the parent company) / (Weighted average number of shares outstanding during the year)

Equity per share, euro:
(Equity attributable to shareholders of the parent company) / (Number of shares outstanding at the end of the year)

Dividend per share, euro:
(Total dividend paid) / (Number of shares outstanding at the end of the year)

Dividend per profit, %:
(Dividend per share x 100) / (Earnings per share)

Effective dividend yield, %:
(Dividend per share x 100) / (Share price at the end of the year)

Price/earnings ratio (P/E):
(Share price at the end of the year) / (Earnings per share)

Market capitalization:
Total number of shares outstanding x share price at the end of the year

Turnover of shares, % of all shares:
(Number of shares traded x 100) / (Average number of shares outstanding during the year)

Share Information

QPR Software Plc share

The share of QPR Software Plc is quoted on the main list of the Nasdaq Helsinki, in the Information technology sector, Small Cap segment. The trading started on March 8, 2003

  • Trading code: QPR1V
  • Number of shares, pcs: 12,444,863
  • Share capital, EUR: 1,359,089.93
  • Book counter value, EUR: 0.11


Changes of addresses

If the address of a shareholder changes, we request to contact the custodian bank holding the shareholder’s book-entry account.


Flaggings

The most recent Company announcement on holding changes was done on November 18, 2021, when QPR Software received a notification pursuant to Chapter 9, Section 5 of the Finnish Securities Markets Act (SMA), that Umo Capital Oy´s direct holding of the shares and votes in QPR Software fell below the threshold of ten (10) percent.

The previous company announcement in accordance with Chapter 9, Section 5 of the Finnish Securities Markets Act (SMA), was on August 6, 2020 that Oy Fincorp Ab´s direct holding of the shares and votes in QPR Software has exceeded the threshold of ten (10) percent.

Share capital

No changes in QPR Software share capital has taken place since December 2009.


Major Shareholders

If you are not able to see the list below access it here.

Shareholder Agreements

The company is not aware of any shareholder agreements concerning the use of voting rights in the company, or of any agreements limiting the surrender of company shares. 

Updated 02/2018

Dividend Policy

The Board does not intend to propose distribution of dividends to the Annual General Meeting. Instead, it proposes to re-invest cash flow from operating activities into growth investments.

Updated 03/2020

Dividend History

In 2019 and 2020 QPR Software did not pay any dividend. The dividend history page provides a single page to review all of the aggregated dividend payment information. Dividends have been paid to shareholders entered in QPR Software's shareholder register, which is maintained by Euroclear Finland Oy. Furthermore, the Company has distributed capital repayments to shareholders, EUR 0.02 in 2009 and EUR 0.01 in 2010.

 
Declaration. Date Record date Payment date Amount, EUR
12.4.2018 16.4.2018 23.4.2018 0.03
28.3.2017 30.3.2017 7.4.2017 0.03
22.3.2016 24.3.2016 5.4.2016 0.02
12.3.2015 16.3.2015 8.4.2015 0.05
13.3.2014 18.3.2014 3.4.2014 0.04
14.3.2013 19.3.2013 3.4.2013 0.04

Corporate Governance

Updated 1/2021

QPR Software Plc’s (QPR’s) management principles apply sound corporate governance and high ethical standards. They comply with the Finnish Limited Liability Companies Act, the Market Abuse Regulation and Securities Markets Act, QPR’s Articles of Association, other regulatory rules concerning the administration of public companies, as well as the Finnish Corporate Governance Code (effective as of January 1, 2020) and the Guidelines for Insiders (effective as of January 1, 2021) maintained by the Finnish Securities Market Association. The principles stated here are intended to only supplement legal provisions.

Information on compliance with the Corporate Governance Code

QPR Software Plc complies with the Corporate Governance Code 2020, issued by the Finnish Securities Market Association, from the beginning of the financial year starting on January 1, 2020.

Deviation from recommendations

QPR Software complies with the Finnish Corporate Governance Code with the following exception: the Board of Directors has not established any committees.

There are no separate committees, as the Board has not considered these necessary considering the size of the Group, the extent of the operations and existing monitoring systems. The Board as a whole is responsible for fulfilling the tasks of an audit committee and other committees.

Further, in view of the size of the Group, extent of the operations and existing monitoring systems, the Board has not considered these necessary of having a specific decision-making procedure for related party transactions.

Availability of the Corporate Governance Code on the Internet

The Finnish Corporate Governance Code is publicly available on the website of the Finnish Securities Market Association, at www.cgfinland.fi.

Board of Directors

The Annual General Meeting elects three to six Board members for a term of one year at a time. Board members consist of representatives of major shareholders and external, independent experts with broad experience in business and the industry in which QPR operates. The AGM confirms annually in advance the emoluments payable to the members of the Board of Directors. The Board elects a Chairman from among its members.

Major shareholders prepare annually a proposal to the Annual General Meeting for the composition of the Company’s Board of Directors as well as well for the annual emoluments of the Board members and auditors. The Chairman of the Board is responsible for contacting major shareholders and inviting at least three largest shareholders annually to prepare the proposals.

QPR's Board of Directors is responsible for the company's strategic policies and the appropriate organization of business operations and administration. The Board of Directors acts in the company's interests in all situations. The Board has a predetermined agenda. The Board of Directors always handles and decides on matters that are financially, commercially or fundamentally significant for the company's operations. At each Board meeting, the Board shall consider a progress report provided by the CEO. In line with the standard agenda, the Board also monitors sales performance and market development at all Board meetings. QPR's CEO attends Board meetings and presents items on the agenda to the Board. The Company's CFO acts as the Board's recording secretary.

QPR's Board of Directors shall, in accordance with its agenda:

  • confirm the company's long-term goals and strategies;
  • make decisions on Group structure and organisation;
  • handle and adopt interim reports, consolidated financial statements and the annual report;
  • confirm the Group's operating plan, budget and investment plan:
  • make decisions on strategically or financially important individual investments, company acquisitions, disposals or other arrangements, and contingent liabilities;
  • decide on strategically significant product development projects;
  • confirm the Group's risk management and reporting practice;
  • make decisions on reward and incentive schemes for Group management;
  • establish a dividend policy and be responsible for the development of shareholder value;
  • appoint the company's Managing Director and determine his remuneration; and
  • be responsible of other duties determined for the Board of Directors in the Companies Act or otherwise.

The work of the Board of Directors is organized as effectively as possible to support the proper functioning of the company's administrative and control systems. So far the Board of Directors as a whole has familiarized itself in advance and been involved in the preparation of many matters for which separate committees are set up in large companies. This is because the scope of the company's activities has not yet required the establishment of separate committees - instead the entire Board has been involved in the preparation of all matters within its authority and belonging to its duties.

The Board of Directors regularly assesses its operations and working procedures by carrying out a self-assessment once a year. Information about the number of meetings and attendance at the meetings of QPR's Board of Directors is available in most recent annual report.

See the members of the QPR Software Plc's Board of Directors.

QPR Software Plc’s Annual General Meeting decides on the annual emolument of the Board of Directors. Up to date information is available in QPR Software's Remuneration Statement and in resolutions made by the Annual General Meeting

No retirement age is set or any exceptional pension arrangements is provided for the Board members.

Updated 3/2018

Operational Management

Chief Executive Officer

The CEO's duty is to manage the company's activities in accordance with the Finnish Companies Act and the Board of Directors' instructions and rules and to inform the Board of Directors about the development of the company's business and financial situation. The CEO is also responsible for arranging the company's day-to-day administration and ensuring that the financial administration of the company has been arranged reliably. The CEO primarily presents matters in Board meetings and is responsible for preparing draft solutions.

QPR's Board of Directors appointed Jussi Vasama the CEO on June 24th, 2021.

Principles of compensation

QPR's Board of Directors appoints the CEO and decides the terms of his/her service contract. The CEO's terms of service have been agreed on in writing. The CEO is not appointed for a certain term, but is appointed indefinitely until further notice is given. The Company does not have any differing pension arrangements for the CEO. The period of notice for the CEO is three months. Compensation on termination is equivalent to six months' salary.

QPR Software Plc does not have any share based incentive schemes.

Executive Management Team

QPR has an Executive Management Team, the Chairman of which is QPR's CEO and the members who are Senior Vice Presidents (SVP) responsible for the company's business operations and business units and corporate support functions. The Executive Management Team can be expanded if this is considered necessary for the matter under consideration.

The Executive Management Team's main responsibility is to assist the CEO, monitor and develop the company's business in line with the objectives set, and disseminate information. The Executive Management Team is informed about all business plans, profit performance and majority of the matters that are handled by QPR's Board of Directors, and it also participates in the preparation of these matters as appointed by the CEO. The Executive Management Team meets twice a month.

See the members of the QPR Software Executive Management Team.

Principles of compensation

QPR's Board of Directors makes decisions on the salary benefits of the members of the Executive Management Team. The employment agreements of the members of the Executive Management Team are based on the collective agreement in force, including the periods of notice thereto. The Executive Management Team members have no differing arrangements related to the termination of their contract or any differing pension arrangements.

Information about compensation and bonus system is available in QPR Software's remuneration statement

QPR Software Plc does not have any share based incentive schemes.

Updated 10/2021

Insiders

QPR Software’s Insider Guidelines include Nasdaq Helsinki Ltd’s Guidelines for Insiders of Listed Companies (January 1, 2021) and the Market Abuse Regulation (MAR). Both documents are part of QPR’s guidelines unchanged. The QPR Insider Guidelines set trade restrictions prohibiting Persons Discharging Managerial Responsibilities (PDMRs), permanent insiders and event-based insiders from making transactions with QPR’s securities during a closed period of 30 days before a financial report is made public. The closed period ends on the day after the publication of a financial report. According to QPR’s Insider Guidelines, permanent insiders must notify the CEO and the Chairman of the Board about the intention to trade QPR’s securities prior to executing a transaction.

The CEO, members of the Board of Directors and the executive management team are considered PDMRs – this is because they are regularly exposed to inside information and have the right to make decisions regarding the future of QPR. QPR’s permanent insiders include employees or other outsourced persons that due to their position or the nature of their responsibilities have access to inside information.

In case QPR prepares an event that could significantly impact the company’s value (e.g. a corporate acquisition), an event-based insider list must be created for the project. Event-based insiders are persons that contractually work for QPR either directly or indirectly and have access to inside information; as well as any organization that is provided inside information on the project.

QPR's CFO manages insider issues and supervises compliance with QPR’s Insider Guidelines. The CFO also maintains QPR’s insider register.

QPR Software Plc’s managers and their closely associated persons referred to in the MAR regulation have been requested to notify their transactions as of July 3, 2016. 

Updated 12/2020

Control Systems

Internal control

Internal control and risk management in the Group aims to ensure that the Group operates efficiently and effectively, distributes reliable information, complies with regulations and operational principles, reaches its strategic goals, reacts to changes in the market and operational environment, and ensures continuity of its business.

It is the duty of the Board of Directors to monitor the appropriateness, effectiveness and efficiency of risk management and internal control in QPR Software Group. Risk management report is presented to the Board in connection with quarterly financial reporting.

The threat caused by the risks to shareholders is used as a criterion when the Board of Directors evaluates these risks. The Board of Directors also monitors that the Company has defined operational principles for internal control and that the Company monitors the effectiveness of internal control.

Risk management

Coordination of risk management and internal control and the related reporting is the responsibility of the Chief Financial Officer. Risk management in QPR Software is guided by the requirements of legislation, shareholders’ expectations regarding business objectives, and expectations among important stakeholders, such as customers and personnel.

Risk management in QPR Software aims systematically and comprehensively to identify risks related to the Company’s operations and ensures that risks are managed and taken into account in decision-making. The Company does not have a separate risk management organization, and risk management is part of routine responsibilities throughout the organization. Risk management is developed by constantly improving operative processes in the Company.

QPR Software identifies the risks by their materiality: if realized, the risks selected for monitoring would have a material impact on the Company's business operations.

QPR has identified the following three groups of risks related to its operations:

  • risks related to business operations,
  • risks related to information and products, and
  • risks related to financing.

Property, operational and liability risks are covered by insurance.

QPR Software Plc’s Management System has received ISO 9001:2015 quality certification covering the Company’s all activities, which is audited annually by an external party.

ISO 27001 Information Security Certification has been awarded to QPR Software for design, marketing, and delivering software services and solutions.

The ISO 27001 International Standard has been prepared to provide requirements for establishing, implementing, maintaining, and continually improving an information security management system. The information security management system preserves the confidentiality, integrity, and availability of information by applying a risk management process and gives confidence to interested parties that risks are adequately managed.

For more information on risk management in QPR Software, please see the latest Corporate Governance Statement.

Updated 1/2021

Articles of Association

1 § Company name and domicile

The company name is QPR Software Oyj, in English QPR Software Plc. Company's domicile is Helsinki.

2 § Field of Business

The field of business of the company is to develop and sell data processing systems that increase the efficiency of the organizations and provide additional value to the clients. The company acts as the parent company of the group and is responsible for the financing of the group. Furthermore, the company may own and administer shares and real estates and other property supporting its business operations.

3 § Book-entry Securities System

The company's shares are included in the book-entry securities system.

4 § Board of Directors

The Board of Directors shall consist of three to six (3-6) ordinary members.

The term of the members of the Board of Directors shall terminate at the end of the Annual Shareholders' Meeting following the election of the Board of Directors.

5 § Representation

The company is represented by the chairman of the Board of Directors and the managing director each alone and a member of the Board of Directors, holder of a procuration or another person appointed by the Board of Directors to represent the company two together.

The Board of Directors is entitled to give a right to represent the company to appointed persons in the manner that they are entitled to represent the company two together or each together with a member of the Board of Directors or a holder of a procuration.

6 § Auditor

The company has one (1) auditor, which is required to be an auditing company approved by the Central Chamber of Commerce. The auditor is elected until further notice.

7 § Financial Period

The financial period of the company is a calendar year.

8 § Notice for Annual General Meeting

The notice of a General Meeting must be published on the website of the company no earlier than three months prior to the record date of the Meeting under Chapter 4, section 2, Subsection 2 of the Companies Act and no later than three weeks prior to the Meeting, provided that the date of the publication must be at least nine days prior to the aforesaid record date. To be able to participate in a General Meeting, a shareholder must register with the company no later than on the day mentioned in the notice of Meeting, which may be no earlier than ten (10) days before the Meeting.

9 § Annual General Meeting

The Annual Shareholders' Meeting shall be held annually in Helsinki, Espoo or Vantaa on the date decided by the Board of Directors, within six months of the expiration of the financial period on a date set by the Board of Directors.

In the meeting the following shall be submitted:
  • financial statements, group financial statements and annual report
  • auditor's report.
The following matters shall be decided upon:
  • confirmation of the financial statements and the group financial statements
  • use of the profit shown by the balance sheet
  • discharge of liability of the members of the Board of Directors and the Managing Director
  • compensation for the members of the Board of Directors and the auditors as well as grounds for compensation of the costs incurred
  • amount of members in the Board of Directors
The following shall be elected:
  • the members of the Board of Directors; and
  • the auditor, when required.

Updated 02/2018

Auditors

According to the Articles of Association, QPR Software Plc has a minimum of one and a maximum of two auditors elected by the Annual General Meeting. The auditor is elected into his duties for the time being. At least one of the auditors shall be an auditor authorised by the Central Chamber of Commerce.

The company's auditors provide shareholders with a report, as required by law, in conjunction with the company's annual financial statements. The primary aim of the statutory audit is to verify that the financial statements give a true and fair view of the company's financial performance and position for each fiscal year. QPR's financial year is the calendar year. In addition to the auditor's report provided with the annual financial statements, the auditor's report on their findings to the company's Board of Directors and Management continuously and always in connection with each interim report.

The auditor participates at least once a year in a meeting of the Board of Directors to provide for a review of the auditing plan and the results of the audit. In addition, the auditor is present at the company's Annual General Meeting and at company's extraordinary shareholder's meetings if required.

The Annual General Meeting 2020 of QPR Software Plc elected KPMG Oy Ab, Authorized Public Accountants, as QPR Software Plc’s auditor and Authorized Public Accountant Miika Karkulahti as the principle auditor. 

Updated 1/2021

Compliance

We want to do right!

QPR’s company culture is based on high business ethics and company values that guide our operations. Our company strives to maintain a transparent business climate and high business ethics. We value the safety and respect of everyone affected by our business. 

QPR complies with all applicable laws and regulations and unconditionally supports and promotes human rights. Whenever any kind of violation of our values and policies is distinguished, it should be reported to QPR immediately.

You have a vital role in our success!

Whistleblowing provides an opportunity to report suspicions of misconduct. Our whistleblowing service is an early warning system to reduce risks. It is an important tool to foster high business ethics and maintaining customer and public confidence in us.

You may blow the whistle to the QPR Compliance Committee. The identity of the person making the report will be anonymous. All notices of suspected incidents are investigated by the committee. The committee will respond to the reporting person within 30 business days of reporting the violation.

Any QPR employee who makes a whistleblowing report is protected from any repercussions, such as dismissal and other forms of reprisals. QPR protects the personal data of the reporting person and the person who is allegedly responsible for the breach.

Report a Non-Compliance

Reported non-compliances may be, for example:

  • Unprofessional business relations
  • Unfair competition
  • Market manipulation
  • Unlawful disclosure of insider information
  • Conflicts of interest
  • Misuse of company assets
  • Violation of human rights and equality
  • Breach of trust and privacy

To ensure that issues do not escalate to the point where they become a whistleblowing case, QPR focuses on communicating the company’s values as well as rules and regulations set for a public listed company and encourages open communication. 

The QPR Compliance Committee meets regularly once in a quarter, or as required to handle any reported cases within the set time limits. 

Updated 02/2018

Annual General Meeting

Updated 03/2021

QPR's highest decision-making body is the shareholders' meeting, at which the shareholders participate in the control and supervision of the company. The shareholders' meeting is convened at least once a year.

The Annual General Meeting (AGM) shall be held within six months following the end of the fiscal year. Materials relating to matters to be considered at the shareholders' meeting can be inspected in advance at the company's head office in Helsinki.

The AGM shall decide the number of members on the Board of Directors and appoint Board members. In addition, it has the authority under the Finnish Companies Act to alter the Articles of Association, adopt the financial statements, determine the amount of dividends and select the auditors. Each QPR share entitles its holder to one vote at shareholders' meetings. QPR's Articles of Association have no redemption clauses or voting limitations.

Annual General Meeting 2021

The Annual General Meeting took place on Thursday, March 25, 2021.

Number of shares and votes on the day of notice for Annual General Meeting, March 4, 2021.

  • Shares: 12,444,863
  • Votes: 12,444,863

QPR Software has one share category. Each share has one vote.

Related material:

Notice to the Annual General Meeting
QPR Remuneration Policy
QPR Remuneration Report 2020
Board Candidates 2021
Authorization on Conveyance of Own Shares
Resolutions of the Annual General Meeting 2021

Annual General Meeting 2020

The Annual General Meeting was held on Monday, June 8, 2020.

Number of shares and votes on the day of notice for Annual General Meeting, May 15, 2020.

  • Shares: 12,444,863
  • Votes: 12,444,863

QPR Software has one share category. Each share has one vote.

Related material:

Notice to Annual General Meeting; Proposals of the Board of Directors
Resolutions of the Annual General Meeting 2020
CEO's Review

Annual General Meeting 2018

The Annual General Meeting was held on Thursday, 12 April, 2018.

Number of shares and votes on the day of notice for Annual General Meeting, 15 February, 2018.

  • Shares: 12,444,863
  • Votes: 12,444,863

QPR Software has one share category. Each share has one vote.

Related material:

Notice for the Annual General Meeting 2018 
Resolutions made by the Annual General Meeting 2018 
Annual General Meeting 2018 - CEO's Review

Annual General Meeting 2018

The Annual General Meeting was held on Thursday, 12 April, 2018.

Number of shares and votes on the day of notice for Annual General Meeting, 15 February, 2018.

  • Shares: 12,444,863
  • Votes: 12,444,863

QPR Software has one share category. Each share has one vote.

Related material:

Notice for the Annual General Meeting 2018 
Resolutions made by the Annual General Meeting 2018 
Annual General Meeting 2018 - CEO's Review

Annual General Meeting 2017

The Annual General Meeting was held on Tuesday, 28 March, 2017.

Number of shares and votes on the day of notice for Annual General Meeting, 16 February, 2017.

  • Shares: 12,444,863
  • Votes: 12,444,863

QPR Software has one share category. Each share has one vote.

Related material:

Notice for the Annual General Meeting 2017
Resolutions made by the Annual General Meeting 2017
Annual General Meeting 2017 - CEO's Review

Annual General Meeting 2016

The Annual General Meeting was held on Tuesday, 22 March, 2016.

Number of shares and votes on the day of notice for Annual General Meeting, 11 February, 2016.

  • Shares: 12,444,863
  • Votes: 12,444,863

QPR Software has one share category. Each share has one vote.

Related material:

Notice for the Annual General Meeting 2016
Resolutions made by the Annual General Meeting 2016
Annual General Meeting 2016 - CEO's Review

Annual General Meeting 2015

Number of shares and votes on the day of notice for Annual General Meeting, 6 February, 2015.

  • Shares: 12,444,863
  • Votes: 12,444,863

QPR Software has one share category. Each share has one vote.

Related material:

Notice for the Annual General Meeting 2015
Resolutions made by the Annual General Meeting 2015 
Annual General Meeting 2015 - CEO's Review

Annual General Meeting 2014

Number of shares and votes on the day of notice for Annual General Meeting, 7 February, 2014.

  • Shares: 12,444,863
  • Votes: 12,444,863

QPR Software has one share category. Each share has one vote.

Related material:

Notice for the Annual General Meeting 2014
Resolutions made by the Annual General Meeting 2014
Annual General Meeting 2014 - CEO's Review

Investor Calendar and IR Contacts

Updated 01/2021

Financial information in 2021

In 2021, QPR Software Plc will publish its financial information, in Finnish and English, as follows:

  • Financial Statements Bulletin 2020: Thursday, February 18, 2021
  • Annual Report 2020: Thursday, March 4, 2021
  • Interim Report 1-3/2021: Friday, April 23, 2021
  • Half-year Financial Report 1-6/2021: Wednesday, August 4, 2021
  • Interim Report 1-9/2021: Friday, October 22, 2021

Annual General Meeting 2021

The Annual General Meeting will be held on Thursday, March 25, 2021.

QPR Investor Relations contacts:

Jussi Vasama, Chief Executive Officer
Päivi Vahvelainen, Chief Financial Officer

​Email addresses are in the form  firstname.lastname@qpr.com

QPR Software Plc, Tel. +358 290 001 150
Contact QPR IR function by email: finance[at]qpr.com 

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