Market announcement
AS Silvano Fashion Group
LEI code
529900JNG41RRJKJYB65
Size of the entity
Large group
Economic activities
Financial and Insurance Activities
Country of registered office
Estonia
General information
Categories
Annual financial report
Unique data record identifier
10155
Attachments
Submission date and time
28.02.2023 23:00:00
Content of announcement in Estonian
Title
Silvano Fashion Group 2022.aasta IV kvartali ja 12 kuu konsolideeritud vahearuanne (auditeerimata)
Message
Põhilised finantsnäitajad
Kontserni 2022. aasta 12 kuu (võrrelduna 2021. aasta 12 kuuga) ja 31.12.2022
(võrrelduna 31.12.2021) põhilised finantsnäitajad on järgmised:
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tuhandetes eurodes 12 kuud 2022 12 kuud 2021 Muutus
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Müügitulu 57 667 46 686 23,5%
Brutokasum 30 884 25 410 21,5%
Ärikasum 14 665 13 005 12,8%
EBITDA 18 283 16 242 12,6%
Aruandeperioodi puhaskasum 12 544 9 924 26,4%
Puhaskasum, emaettevõtte
omanike osa 11 796 9 031 30,6%
Kasum aktsia kohta (eurodes) 0,33 0,25 32,0%
Äritegevuse rahavoog
perioodil 14 062 12 996 8,2%
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tuhandetes eurodes 31.12.2022 31.12.2021 Muutus
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Varad kokku 63 991 53 753 19,0%
Käibevarad kokku 50 309 40 331 24,7%
Omakapital kokku, emaettevõtte omanike osa 44 786 34 148 31,2%
Raha ja raha ekvivalendid 25 909 17 098 51,5%
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Rentaablusanalüüs, % 12 kuud 2022 12 kuud 2021 Muutus
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Brutokasum 53,6 54,4 -1,5%
Ärikasum 25,4 27,9 -9,0%
EBITDA 31,7 34,8 -8,9%
Puhaskasum 21,8 21,3 2,3%
Puhaskasum , emaettevõtte omanike osa 20,5 19,3 6,2%
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Finantssuhtarvud, % 31.12.2022 31.12.2021 Muutus
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ROA 19,0 17,9 6,1%
ROE 28,1 28,7 -2,1%
Hinna/ kasumi suhe 3,4 7,8 -56,4%
Lühiajaliste kohustuste kattekordaja 5,1 4,3 18,6%
Likviidsuskordaja 2,8 2,1 33,3%
Majandustulemused
Kontserni 2022. aasta 12 kuu käive moodustas 57 667 tuhat eurot, suurenedes
eelmise aasta sama perioodiga võrreldes 23,5% võrra. Jaemüügi käive suurenes
35,2% võrra, mõõdetuna eurodes.
Kontserni 2022. aasta 12 kuu brutokasum oli 30 884 tuhat eurot, suurenedes
eelmise aastaga võrreldes 21,5%. Perioodi brutokasumi marginaal vähenes 2022.
aasta 12 kuu jooksul 54,4%-lt 53,6%-le. Müüdud toodangu kulu suurenes 25,9%
võrra.
2022. aasta 12 kuu konsolideeritud ärikasum suurenes 12,8% ja ulatus 14 665
tuhande euroni võrreldes 2021. aasta 12 kuu konsolideeritud ärikasumiga summas
13 005 tuhat eurot. 2022. aasta 12 kuu ärikasumi rentaablus oli 25,4% võrreldes
27,9%-ga eelmise aasta samal perioodil. Konsolideeritud EBITDA suurenes 12,6% ja
moodustas 2022. aasta 12 kuuga 18 283 tuhat eurot, mis tähendab 31,7%
rentaablust (16 242 tuhat eurot ja 34,8% eelmise aasta samal perioodil).
Ettevõtte puhaskasum emaettevõtte aktsionäridele moodustas 2022. aasta 12 kuuga
11 796 tuhat eurot võrreldes puhaskasumiga 9 031 tuhat eurot 2021. aasta 12
kuuga, puhaskasumi marginaal emaettevõtte aktsionäridele moodustas 2022. aasta
12 kuuga 20,5% võrreldes puhaskasumiga 19,3%-ga eelmise aasta samal perioodil.
Finantsseisund
Seisuga 31. detsember 2022 ulatus kontserni konsolideeritud varade maht 63 991
tuhande euroni, suurenedes 19,0% võrreldes 31. detsembriga 2021.
Võrreldes 31. detsembriga 2021 vähenesid nõuded ostjate vastu ja muud nõuded
199 tuhande euro võrra ja moodustasid 2022. aasta 31. detsembri seisuga 2 126
tuhat eurot. Varude saldo suurenes 1 358 tuhande euro võrra ning
2022. aasta 31. detsembri seisuga moodustas 22 264 tuhat eurot.
Emaettevõtte aktsionäride osa omakapitalis suurenes 10 638 tuhande euro võrra,
ulatudes 2022. aasta 31. detsembri seisuga 44 786 tuhande euroni. Lühiajalised
kohustused suurenesid 2022.aasta 12 kuuga 534 tuhande euro võrra.
Investeeringud
Kontserni 2022. aasta 12 kuu investeeringute kogumaht materiaalsesse
põhivarasse, tehasesse ja seadmetesse moodustas 445 tuhat eurot, 312 tuhat eurot
eelmise aasta samal perioodil. Investeeringud teostati peamiselt oma poodide
avamisse ja renoveerimisse, samuti seadmetesse ja hoonetesse tootmise
efektiivsuse säilitamiseks tulevastes perioodides.
Personal
2022. aasta 31.detsembri seisuga oli kontsernil 1 616 töötajat, neist 499 töötas
jaemüügi segmendis. Ülejäänud töötajad tegutsesid tootmise, hulgimüügi-, haldus-
ja tugiteenuste valdkondades. 31.12.2021 seisuga oli 1 602 töötajat, neist 485
töötas jaemüügi segmendis.
Kontserni 2022. aasta 12 kuu palgakulu koos maksudega oli 12 759 tuhat eurot (9
388 tuhat eurot 2021.aasta 12 kuud). Kontserni juhtkonna võtmeisikute töötasud,
sealhulgas tütarettevõtete võtmeisikute tasud, moodustasid kokku 677 tuhat
eurot.
Konsolideeritud finantsseisundi aruanne
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tuhandetes eurodes Lisad 31.12.2022 31.12.2021
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Auditeerimata Auditeeritud
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VARAD
Käibevara
Raha ja rahalähendid 2 25 909 17 098
Väljaantud laenud 10 2
Nõuded ostjate vastu ja muud
nõuded 3 2 126 2 325
Varud 4 22 264 20 906
Käibevara kokku 50 309 40 331
Põhivara
Pikaajalised nõuded 301 262
Investeeringud
sidusettevõtetesse 82 80
Investeeringud muudesse
osadesse ja aktsiatesse 259 262
Edasilükkunud tulumaksuvara 2 166 1 226
Immateriaalne põhivara 585 535
Kinnisvarainvesteeringud 1 041 1 086
Materiaalne põhivara 5 9 248 9 971
Põhivara kokku 13 682 13 422
VARAD KOKKU 63 991 53 753
KOHUSTUSED JA OMAKAPITAL
Lühiajalised kohustused
Lühiajalised rendikohustused 2 373 2 193
Võlad tarnijatele ja muud
võlad 6 5 837 6 504
Maksukohustised 1 692 671
Lühiajalised kohustused kokku 9 902 9 368
Pikaajalised kohustused
Edasilükkunud
tulumaksukohustis 1 039 1 746
Pikaajalised rendikohustused 4 041 4 727
Pikaajalised eraldised 41 51
Pikaajalised kohustused kokku 5 121 6 524
Kohustused kokku 15 023 15 892
Omakapital
Aktsiakapital 7 3 600 3 600
Ülekurss 4 967 4 967
Kohustuslik reservkapital 1 306 1 306
Realiseerimata kursivahed -19 409 -18 251
Jaotamata kasum 54 322 42 526
Omakapital kokku, emaettevõtte
omanike osa 44 786 34 148
Vähemusosalus 4 182 3 713
Omakapital kokku 48 968 37 861
OMAKAPITAL JA KOHUSTUSED KOKKU 63 991 53 753
Konsolideeritud kasumiaruanne
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IV
kvartal IV kvartal 12 kuud
tuhandetes eurodes Lisad 2022 2021 12 kuud 2022 2021
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Auditeerimata Auditeerimata Auditeerimata Auditeeritud
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Kliendilepingutest
saadav tulu 9 13 693 9 795 57 667 46 686
Müüdud toodangu
kulu -4 875 -5 480 -26 783 -21 276
Brutokasum 8 818 4 315 30 884 25 410
Turustuskulud -3 023 -2 120 -11 143 -8 573
Üldhalduskulud -1 255 -892 -4 391 -3 555
Muud äritulud 176 -407 525 406
Muud ärikulud -662 -216 -1 210 -683
Ärikasum 4 054 680 14 665 13 005
Tulu/(kulu)
valuutakursi
muutustest -3 919 158 1 117 1 565
Muud
finantstu/(kulu) -350 -116 -453 -432
Finantstulud /(-
kulud) kokku -4 269 42 664 1 133
Kasum (kahjum)
sidusettevõtetest
kapitaliosaluse
meetodil 2 13 1 19
Kasum enne tulumaksu -213 735 15 330 14 157
Tulumaksukulu 241 -1 329 -2 786 -4 233
Aruandeperioodi
kasum 28 -594 12 544 9 924
Sealhulgas:
Emaettevõte
omanike osa -39 -531 11 796 9 031
Vähemusosaluse
osa 67 -63 748 893
Tava- ja
lahustatud kasum
emaettevõtte
omanike aktsia
kohta (eurodes) 8 0,00 -0,01 0,33 0,25
Konsolideeritud
koondkasumiaruanne
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IV kvartal 12 kuud
tuhandetes eurodes Lisad IV kvartal 2022 2021 12 kuud 2022 2021
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Auditeerimata Auditeerimata Auditeerimata Auditeeritud
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Aruandeperioodi
kasum 28 -594 12 544 9 924
Muu koondkasum
(kahjum), mida
võib hiljem
kasumiaruandesse
ümber
klassifitseerida:
Kursivahede mõju
välismaiste
äriüksuste
tulemuste
ümberarvestamisele -3 052 161 -877 869
Aruandeperioodi
muu koondkasum -3 052 161 -877 869
Perioodi
koondkasum
(kahjum) kokku -3 024 -433 11 667 10 793
Sealhulgas:
Emaettevõtte
omanike osa -3 307 -353 10 638 9 644
Vähemusosaluse
osa 283 -80 1 029 1 149
Konsolideeritud rahavoogude aruanne
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tuhandetes eurodes 12 kuud 12 kuud
Lisad 2022 2021
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Auditeerimata Auditeeritud
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Rahavood äritegevusest
Perioodi kasum 12 544 9 924
Korrigeerimised:
Põhivara kulum 3 618 3 237
Kasum kapitaliosaluse meetodil
kajastatud investeeringutest -1 -19
(Kasum)/kahjum materiaalse põhivara müügist 8 24
Finantstulud ja -kulud kokku - 664 -1 133
Ebatõenäoliselt laekuvate arvete eraldis 2 -1
Varude eraldis 683 187
Tulumaksukulu 2 786 4 233
Varude muutus -1 358 -1 979
Muutused nõuetes ostjate vastu ja muudes
nõuetes 199 -237
Muutused võlgades tarnijatele ja muudes
võlgades -667 917
Tasutud intressid 0 -2
Makstud tulumaks -3 088 -2 155
Rahavood äritegevusest kokku 14 062 12 996
Rahavood investeerimistegevusest
Saadud intressid 38 19
Saadud dividendid 3 0
Materiaalse põhivara müük 58 143
Väljaantud laenud -8 0
Materiaalse põhivara soetamine -445 -312
Immateriaalse põhivara soetamine -113 -147
Rahavood investeerimistegevusest kokku -467 -297
Rahavood finantseerimistegevusest
Saadud laenude tagasimaksed 0 -800
Rendikohustiste põhiosamaksed -2 634 -2 402
Rendikohustistelt tasutud intress -546 -450
Makstud dividendid -560 -750
Rahavood finantseerimistegevusest kokku -3 740 -4 402
Raha ja rahalähendite muutus 9 855 8 297
Raha ja rahalähendid perioodi alguses 17 098 8 980
Esitusvaluutasse ümberarvestamise mõju -509 75
Valuutakursside muutuste mõju rahavoogudele -535 -254
Raha ja rahalähendid perioodi lõpus 25 909 17 098
AS Silvano Fashion Group
Tel: +372 6845 000
Email: [email protected]
Content of announcement in English
Title
Silvano Fashion Group Consolidated Interim Financial Report for Q4 and 12 months of 2022 (unaudited)
Message
Selected Financial Indicators Summarized selected financial indicators of the Group for 12 months of 2022 compared to 12 months of 2021 and 31.12.2022 compared to 31.12.2021 were as follows: ------------------------------------------------------------------------------- in thousands of EUR 12m 2022 12m 2021 Change ------------------------------------------------------------------------------- Revenue 57 667 46 686 23.5% Gross Profit 30 884 25 410 21.5% Operating profit 14 665 13 005 12.8% EBITDA 18 283 16 242 12.6% Net profit for the period 12 544 9 924 26.4% Net profit attributable equity holders of the Parent company 11 796 9 031 30.6% Earnings per share (EUR) 0,33 0,25 32.0% Operating cash flow for the period 14 062 12 996 8.2% ------------------------------------------------------------------------------- in thousands of EUR 31.12.2022 31.12.2021 Change ------------------------------------------------------------------------------- Total assets 63 991 53 753 19.0% Total current assets 50 309 40 331 24.7% Total equity attributable to equity holders of the Parent company 44 786 34 148 31.2% Cash and cash equivalents 25 909 17 098 51.5% ------------------------------------------------------------------------------- Margin analysis, % 12m 2022 12m 2021 Change ------------------------------------------------------------------------------- Gross profit 53,6 54,4 -1.5% Operating profit 25,4 27,9 -9.0% EBITDA 31,7 34,8 -8.9% Net profit 21,8 21,3 2.3% Net profit attributable to equity holders of the Parent company 20,5 19,3 6.2% ------------------------------------------------------------------------------- Financial ratios, % 31.12.2022 31.12.2021 Change ------------------------------------------------------------------------------- ROA 19,0 17,9 6.1% ROE 28,1 28,7 -2.1% Price to earnings ratio (P/E) 3,4 7,8 -56.4% Current ratio 5,1 4,3 18.6% Quick ratio 2,8 2,1 33.3% Financial performance The Group`s sales amounted to 57 667 thousand EUR during 12 months of 2022, representing a 23.5% increase as compared to the same period of previous year. Overall, retail increased by 35.2%, measured in EUR. The Group's gross profit during 12 months of 2022 amounted to 30 884 thousand EUR and increase by 21.5% compared to previous year. The gross margin during 12 months of 2022 decreased to 53.6%, from 54.4% in the respective period of previous year. The cost of sold goods increased by 25.9%. Consolidated operating profit for 12 months of 2022 amounted to 14 665 thousand EUR, compared to 13 005 thousand EUR for 12 months of 2021, increase by 12.8%. The consolidated operating profit margin was 25.4% for 12 months of 2022 (27.9% for 12 months of 2021). Consolidated EBITDA for 12 months of 2022 increased by 12.6% and amounted to 18 283 thousand EUR, which is 31.7% in margin terms (16 242 thousand EUR and 34.8% for 12 months of 2021). Reported consolidated net profit attributable to equity holders of the Parent company for 12 months of 2022 amounted to 11 796 thousand EUR, compared to net profit of 9 031 thousand EUR for 12 months of 2021, net profit margin attributable to equity holders of the Parent company for 12 months of 2022 was 20.5% against net profit 19.3% for 12 months of 2021. Financial position As of 31 December 2022 consolidated assets amounted to 63 991 thousand EUR representing increase by 19.0% as compared to the position as of 31 December 2021. Trade and other receivables decreased by 199 thousand EUR as compared to 31 December 2021 and amounted to 2 126 thousand EUR as of 31 December 2022. Inventory balance increased by 1 358 thousand EUR and amounted to 22 264 thousand EUR as of 31 December 2022. Equity attributable to equity holders of the Parent company increased by 10 638 thousand EUR and amounted to 44 786 thousand EUR as of 31 December 2022. Current liabilities increased by 534 thousand EUR during 12 months of 2022. Investments During 12 months of 2022 the Group's investments into property, plant and equipment totalled 445 thousand EUR, in previous year same period 312 thousand EUR. Investments were made mainly into opening and renovating own stores, as well into equipment and facilities to maintain effective production for future periods. Personnel As of 31 December 2022, the Group employed 1 616 employees, including 499 people in retail operations. The rest were employed in production, wholesale, administration and support operations. In 31.12.2021 there were 1 602 employees, including 485 people in retail operations. Total salaries and related taxes during 12 months of 2022 amounted to 12 759 thousand EUR (9 388 thousand EUR in 12 months of 2021). The remuneration of key management of the Group, including the key executives of all subsidiaries, totalled 677 thousand EUR. Consolidated Statement of Financial Position ------------------------------------------------------------------------------- in thousands of EUR Note 31.12.2022 31.12.2021 ------------------------------------------------------------------------------- Unaudited Audited ASSETS Current assets Cash and cash equivalents 2 25 909 17 098 Current loans granted 10 2 Trade and other receivables 3 2 126 2 325 Inventories 4 22 264 20 906 Total current assets 50 309 40 331 Non-current assets Long-term receivables 301 262 Investments in associates 82 80 Investments in other shares 259 262 Deferred tax asset 2 166 1 226 Intangible assets 585 535 Investment property 1 041 1 086 Property, plant and equipment 5 9 248 9 971 Total non-current assets 13 682 13 422 TOTAL ASSETS 63 991 53 753 LIABILITIES AND EQUITY Current liabilities Short-term lease liabilities 2 373 2 193 Trade and other payables 5 837 6 504 Tax liabilities 1 692 671 Total current liabilities 9 902 9 368 Non-current liabilities Deferred tax liability 1 039 1 746 Long-term lease liabilities 4 041 4 727 Long-term provisions 41 51 Total non-current liabilities 5 121 6 524 Total liabilities 15 023 15 892 Equity Share capital 7 3 600 3 600 Share premium 4 967 4 967 Statutory reserve capital 1 306 1 306 Unrealised exchange rate differences -19 409 -18 251 Retained earnings 54 322 42 526 Total equity attributable to equity holders of the Parent company 44 786 34 148 Non-controlling interest 4 182 3 713 Total equity 48 968 37 861 TOTAL EQUITY AND LIABILITIES 63 991 53 753 Consolidated Income Statement ------------------------------------------------------------------------------- in thousands of EUR Note 4Q 2022 4Q 2021 12m 2022 12m 2021 ------------------------------------------------------------------------------- Unaudited Unaudited Unaudited Audited Revenue from contracts with customers 9 13 693 9 795 57 667 46 686 Cost of goods sold -4 875 -5 480 -26 783 -21 276 Gross Profit 8 818 4 315 30 884 25 410 Distribution expenses -3 023 -2 120 -11 143 -8 573 Administrative expenses -1 255 -892 -4 391 -3 555 Other operating income 176 -407 525 406 Other operating expenses -662 -216 -1 210 -683 Operating profit 4 054 680 14 665 13 005 Currency exchange income/(expense) -3 919 158 1 117 1 565 Other finance income/(expenses) -350 -116 -453 -432 Net finance income -4 269 42 664 1 133 Profit (loss) from associates using equity method 2 13 1 19 Profit before tax -213 735 15 330 14 157 Income tax expense 241 -1 329 -2 786 -4 233 Profit for the period 28 -594 12 544 9 924 Attributable to : Equity holders of the Parent company -39 -531 11 796 9 031 Non-controlling interest 67 -63 748 893 Earnings per share from profit attributable to equity holders of the Parent company, both basic and diluted (EUR) 8 0,00 -0,01 0,33 0,25 Consolidated Statement of Comprehensive Income ------------------------------------------------------------------------------- in thousands of EUR Note 4Q 2022 4Q 2021 12m 2022 12m 2021 ------------------------------------------------------------------------------- Unaudited Unaudited Unaudited Audited Profit for the period 28 -594 12 544 9 924 Other comprehensive income (loss) that will be reclassified to profit or loss in subsequent periods : Exchange differences on translation of foreign operations -3 052 161 -877 869 Total other comprehensive income for the period -3 052 161 -877 869 Total comprehensive income (loss) for the period -3 024 -433 11 667 10 793 Attributable to : Equity holders of the Parent company -3 307 -353 10 638 9 644 Non-controlling interest 283 -80 1 029 1 149 Consolidated Statement of Cash Flows ------------------------------------------------------------------------------- in thousands of EUR Note 12m 2022 12m 2021 ------------------------------------------------------------------------------- Unaudited Audited Cash flow from operating activities Profit for the period 12 544 9 924 Adjustments for: Depreciation and amortization of non-current assets 3 618 3 237 Impairment losses of non-current assets Share of profit of equity accounted investees -1 -19 Gains/Losses on the sale of property, plant and equipment 8 24 Net finance income / costs -664 -1 133 Provision for impairment losses on trade receivables 2 -1 Provision for inventories 683 187 Income tax expense 2 786 4 233 Change in inventories -1 358 -1 979 Change in trade and other receivables 199 -237 Change in trade and other payables -667 917 Interest paid 0 -2 Income tax paid -3 088 -2 155 Net cash flow from operating activities 14 062 12 996 Cash flow from investing activities Interest received 38 19 Dividends received 3 0 Proceeds from disposal of property, plant and equipment 58 143 Loans granted -8 0 Acquisition of property, plant and equipment -445 -312 Acquisition of intangible assets -113 -147 Net cash flow from investing activities -467 -297 Cash flow from financing activities Repayment of borrowings 0 -800 Payment of principal portion of lease liabilities -2 634 -2 402 Interest paid on lease liabilities -546 -450 Dividends paid -560 -750 Net cash flow from financing activities -3 740 -4 402 Net increase in cash and cash equivalents 9 855 8 297 Cash and cash equivalents at the beginning of period 17 098 8 980 Effect of translation to presentation currency -509 75 Effect of exchange rate fluctuations on cash held -535 -254 Cash and cash equivalents at the end of period 25 909 17 098 AS Silvano Fashion Group Phone: +372 6845 000 Email: [email protected]