Market announcement
AS Harju Elekter Group
LEI code
5299009GM96I0NYKWS93
Size of the entity
Large group
Economic activities
Real Estate Activities
Industry sector(s)
Credit rating agency
Country of registered office
Estonia
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
10679
Attachments
Submission date and time
25.10.2023 08:00:00
Content of announcement in Estonian
Title
AS-i Harju Elekter Group majandustulemused, 1-9/2023
Message
Harju Elektri 2023. aasta kolmanda kvartali majandustulemus oli jätkuvalt kasumlik. Tugev kasum on Harju Elektri tähtsaim jätkusuutlikkuse eesmärk, ilma milleta pole võimalik huvigruppide kasvavaid ootusi täita. Kolmandasse kvartalisse jäi mitmeid olulisi ja õnnestunud sündmusi: tütarettevõtete tegevjuhtide määramise Rootsis ja Soomes; Elektrilevi hankelepingu võitmine alajaamade tarnimiseks järgmiseks viieks aastaks; ning väljumine hulgi- ja jaekaubanduse ärist Eestis. Kuigi Rootsi tütarettevõtte üksikud aastaid tagasi sõlmitud projektitööde lepingud on osutunud oodatust kahjumlikumaks, on Rootsi turu potentsiaal ning meie toodete vajadus piisav, et jätkata pingutusi Rootsis tehase käivitamisega ning kasumisse jõudmisega järgmistel kvartalitel ja aastatel. Hinnates Harju Elektri majandusseisu tervikuna ning kontserni juhtimisstruktuuri ümberkorraldustest tingitud arengut, võib Harju Elektri 55. tegutsemisaastat tähistades tulemustega rahul olla. Müügitulu ja finantstulemused Kontserni aruandekvartali müügitulu oli 56,2 (2022 III kv: 46,1) miljonit eurot, kasvades võrreldava perioodi suhtes 22,1%. Üheksa kuu müügitulu suurenes võrreldava perioodi suhtes 26,3%, olles 158,3 (2022 9k: 125,3) miljonit eurot. Valdava osa müügitulu kasvust andis elektriseadmete müük, suurenedes kvartalite võrdluses 11,7 miljonit eurot. Üheksa kuu võrdluses kasvas elektriseadmete müügitulu 39,4 miljoni euro võrra. ------------------------------------------------------------------------------- EUR'000 III KV III KV Muutus 9 kuud 9 kuud Muutus 2023 2022 2023 2022 ------------------------------------------------------------------------------- Müügitulu 56 247 46 081 22,1% 158 277 125 315 26,3% Brutokasum 7 378 5 803 27,1% 19 372 9 751 98,7% Ärikasum (-kahjum) enne kulumit (EBITDA) 4 899 3 182 54,0% 10 524 1 161 806,5% Ärikasum (-kahjum) (EBIT) 3 846 1 691 127,4% 7 323 -2 482 395,0% Perioodi puhaskasum (-kahjum) 3 393 1 406 141,3% 5 026 -3 085 262,9% Puhaskasum (-kahjum) aktsia kohta (eurot) 0,18 0,08 137,5% 0,27 -0,17 258,8% ------------------------------------------------------------------------------- Kontserni äritegevuse kulud olid aruandekvartalis kokku 52,4 (2022 III kv: 44,3) ning üheksa kuuga 150,4 (2022 9k: 127,8) miljonit eurot. Valdava osa äritegevuskulude tõusust andis müüdud toodete ja teenuste kulude kasv, mis jäi mõlemas perioodis alla müügitulu kasvutempole, kvartalis 0,8 ja üheksa kuu võrdluses 6,1 protsendipunkti võrra. Turustuskulud olid aruandekvartalis 1,4 (2022 III kv: 1,3) ning üldhalduskulud 2,2 (2022 III kv: 2,7) miljonit eurot. Üheksa kuu turustuskulud kokku olid samas suurusjärgus, mis aasta varem - 4,1 miljonit eurot ning üldhalduskulud 7,5 (2022 9k: 8,2) miljonit eurot. Tööjõukulud mõlema perioodi võrdluses kasvasid, olles vastavalt 9,3 (2022 III kv: 7,5) ja 29,5 (2022 9k: 25,3) miljonit eurot. Valdava osa tööjõukulude kasvust andis personali juurdekasv ning keskmise töötasu kasvu mõjutas üldisest majanduskasvust sõltuv palgasurve. Aruandekvartali brutokasum oli 7 378 (2022 III kv: 5 803) tuhat eurot ja brutokasumi marginaaliks kujunes 13,1% (2022 III kv: 12,6%). Ärikasum (EBIT) oli 3 846 (2022 III kv: 1 691) tuhat eurot. Kolmanda kvartali ärirentaabluseks kujunes 6,8% (2022 III kv: 3,7%). Aruandekvartali puhaskasum oli 3 393 (2022 III kv: 1 406) tuhat eurot. Puhaskasum aktsia kohta oli kolmandas kvartalis 0,18 (2022 III kv: 0,08) eurot. Üheksa kuu brutokasum oli 19 372 (2022 9k: 9 751) tuhat eurot ja brutokasumi marginaal 12,2% (2022 9k: 7,8%). Üheksa kuuga teeniti ärikasumit (EBIT) 7 323 (2022 9k: ärikahjum -2 482) ning puhaskasumit 5 026 (2022 9k: puhaskahjum -3 085) tuhat eurot. Puhaskasum aktsia kohta oli 0,27 (2022 9k: puhaskahjum aktsia kohta -0,17) eurot. Põhitegevusala ja turud Kontserni põhitegevusala, tootmine, moodustas kontserni aruandekvartali müügitulust 95,2% (2022 III kv: 89,3%). Tootmissegmendi müügitulu kasvas kvartalite võrdluses 30,1% ja üheksa kuu võrdluses 34,9%, olles vastavalt 53,6 ja 150,1 miljonit eurot. Kontserni suurimad sihtturud on Eesti, Soome, Rootsi ja Norra, kuhu müüdi aruandekvartalis kokku 81,7% (2022 III kv: 92,6%) kontserni toodetest ja teenustest. Kolmandas kvartalis teeniti Eestist müügitulu 5,1 (2022 III kv: 8,9) miljonit eurot, mis on 3,8 miljonit vähem kui aasta varem. Üheksa kuu võrdluses vähenes müügitulu 7,0 miljoni euro võrra 15,6 miljoni euroni. Müügitulu vähenemine mõlema perioodi vaates on valdavalt seotud Eesti elektrikaupade projekti- ja jaemüügi tegevuse lõppemisega ja elektriseadmete müügi vähenemisega lepingulistele klientidele. Müügitulu Soome turule oli kolmandas kvartalis 20,5 (2022 III kv: 21,8) ja üheksa kuuga 63,7 (2022 9k: 60,6) miljonit eurot. Valdava osa müügitulude kasvust andsid automaatikaseadmete ja madalpinge jaotusseadmete müük võtmeklientidele. Kontserni suurimale turule müüdi aruandekvartalis 36,5% (2022 III kv: 47,3%) Harju Elektri toodetest ja teenustest. Rootsi turu müügitulu kasvas alajaamade müügi suurenemise ja projektiäri kasvu toel, olles aruandekvartalis 7,7 (2022 III kv: 6,4) ja üheksa kuu kokkuvõttes 23,3 (2022 9k: 15,8) miljonit eurot. Rootsi moodustas aruandekvartali konsolideeritud müügitulust 13,7% (2022 III kv: 14,0%). Norra turult teeniti müügitulu aruandekvartalis oli 12,6 (2022 III kv: 5,5) ja üheksa kuuga 28,1 (2022 9k: 12,9) miljonit eurot. Norra turg moodustas aruandekvartali müügitulust 22,4% (2022 III kv: 12,0%), kasvades Soome järel teiseks suurimaks turuks. Investeeringud Harju Elekter investeeris aruandeperioodil põhivarasse kokku 5,0 (2022 9k: 3,1) miljonit eurot, sealhulgas kinnisvarainvesteeringutesse 4,2 (2022 9k: 1,6) miljonit eurot, materiaalsesse põhivarasse 0,6 (2022 9k: 1,1) miljonit eurot ja immateriaalsesse põhivarasse 0,2 (2022 9k: 0,4) miljonit eurot. Enamus aruandeperioodi investeeringutest suunati Allika Tööstuspargi Reimax Electronics OÜ-le välja renditava tootmishoone ehitusse, mis valmib aasta lõpus. Lisaks investeeriti teistesse kinnisvaraobjektidesse, tootmistehnoloogilisse põhivarasse ning tootmis- ja protsessijuhtimissüsteemidesse. Kontserni pikaajaliste finantsinvesteeringute väärtus oli aruandekuupäeva seisuga kokku 32,5 (31.12.22: 23,7) miljonit eurot. Teises kvartalis teostatud finantsvara ümberhindlusest kasvas OÜ Skeleton Technologies Group investeeringu hinnanguline õiglane väärtus 8,8 miljoni euro võrra 30,6 miljoni euroni. Kolmandas kvartalis õiglast väärtust ümber ei hinnatud. Aktsia Ettevõtte aktsia sulgus aruandekvartali viimasel kauplemispäeval Nasdaq Tallinna börsil 5,0 euro tasemel. AS-il Harju Elekter Group oli 30.09.2023 seisuga 11 269 aktsionäri. Aruandekvartali jooksul suurenes aktsionäride arv 95 võrra. KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE Auditeerimata ------------------------------------------------------------------------------ EUR '000 30.09.2023 31.12.2022 30.09.2022 ------------------------------------------------------------------------------ VARAD Käibevarad Raha ja raha ekvivalendid 596 9 152 504 Nõuded ostjatele ja muud nõuded 42 522 31 612 34 069 Ettemaksed 1 818 1 126 1 497 Varud 40 183 37 068 43 809 Käibevara kokku 85 119 78 958 79 879 ------------------------------------------------------------------------------ Põhivara Edasilükkunud tulumaksu vara 994 1 008 756 Pikaajalised finantsinvesteeringud 32 509 23 731 23 707 Kinnisvarainvesteeringud 28 146 24 756 24 754 Materiaalne põhivara 33 590 35 740 25 490 Immateriaalne põhivara 7 315 7 244 7 372 Põhivara kokku 102 554 92 479 82 079 ------------------------------------------------------------------------------ VARAD KOKKU 187 673 171 437 161 958 ------------------------------------------------------------------------------ KOHUSTUSED JA OMAKAPITAL Kohustused Võlakohustused 19 839 24 385 20 667 Ostjate ettemaksed 18 675 16 827 8 021 Võlad tarnijatele ja muud võlad 28 343 24 502 32 720 Maksuvõlad 3 618 3 478 3 881 Lühiajalised eraldised 60 2 103 535 Lühiajalised kohustused kokku 70 535 71 295 65 824 ------------------------------------------------------------------------------ Võlakohustused 23 743 20 732 14 222 Muud pikaajalised kohustused 0 0 32 Pikaajalised kohustused kokku 23 743 20 732 14 254 ------------------------------------------------------------------------------ KOHUSTUSED KOKKU 94 278 92 027 80 078 ------------------------------------------------------------------------------ Omakapital Aktsiakapital 11 655 11 523 11 523 Ülekurss 3 306 2 509 2 509 Reservid 26 580 17 768 17 756 Jaotamata kasum 51 854 47 771 50 291 Emaettevõtte omanikele kuuluv omakapital kokku 93 395 79 571 82 079 Mittekontrolliv osalus 0 -161 -199 Omakapital kokku 93 395 79 410 81 880 ------------------------------------------------------------------------------ KOHUSTUSED JA OMAKAPITAL KOKKU 187 673 171 437 161 958 ------------------------------------------------------------------------------ KONSOLIDEERITUD KASUMIARUANNE Auditeerimata ------------------------------------------------------------------------ EUR '000 III KV III KV 9 kuud 9 kuud 2023 2022 2023 2022 ------------------------------------------------------------------------ Müügitulu 56 247 46 081 158 277 125 315 Müüdud toodete ja teenuste kulud -48 869 -40 278 -138 905 -115 564 Brutokasum 7 378 5 803 19 372 9 751 Turustuskulud -1 392 -1 264 -4 060 -4 128 Üldhalduskulud -2 164 -2 728 -7 455 -8 157 Muud äritulud 24 0 223 342 Muud ärikulud 0 -120 -757 -290 Ärikasum (-kahjum) 3 846 1 691 7 323 -2 482 Finantstulud 3 0 71 74 Finantskulud -340 -146 -1 910 -377 Kasum (-kahjum) enne maksustamist 3 509 1 545 5 484 -2 785 Tulumaks -116 -139 -458 -300 Perioodi puhaskasum (-kahjum) 3 393 1 406 5 026 -3 085 ------------------------------------------------------------------------ Puhaskasumi (-kahjum) jaotus Emaettevõtte omanike osa puhaskasumist 3 393 1 493 5 026 -3 024 Mitte-kontrolliv osa puhaskasumist 0 -87 0 -61 ------------------------------------------------------------------------ Puhaskasum (-kahjum) aktsia kohta Tavapuhaskasum aktsia kohta (EUR) 0,18 -0,08 0,27 -0,17 Lahustatud puhaskasum aktsia kohta (EUR) 0,18 -0,08 0,27 -0,17 ------------------------------------------------------------------------ KONSOLIDEERITUD KOONDKASUMIARUANNE Auditeerimata ---------------------------------------------------------------------------- EUR '000 III KV III KV 9 kuud 9 kuud 2023 2022 2023 2022 ---------------------------------------------------------------------------- Perioodi puhaskasum (-kahjum) 3 393 1 406 5 026 -3 085 Muu koondkasum (-kahjum) Kirjed, mis hiljem võib klassifitseerida kasumiaruandesse Valuutakursi vahed välisettevõtte ümberarvestusel -49 -96 74 -161 Kirjed, mida hiljem ei klassifitseerita kasumiaruandesse Realiseerunud kasum finantsvara müügist 0 0 0 320 Finantsvara ümberhindluse netokasum/netokahjum (-) -83 112 8 782 -746 Perioodi muu koondkasum (-kahjum) kokku -132 16 8 856 -587 Perioodi koondkasum (-kahjum) kokku 3 261 1 422 13 882 -3 672 ---------------------------------------------------------------------------- Koondkasumi (-kahjum) jaotus: Emaettevõtte omanike osa koondkasumist 3 261 1 412 13 882 -3 708 Mitte-kontrolliv osa koondkasumist 0 10 0 36 ---------------------------------------------------------------------------- Priit Treial Finantsjuht ja juhatuse liige Tel 674 7400
Content of announcement in English
Title
Harju Elekter Group financial results, 1-9/2023
Message
Harju Elekter's Q3 financial results continue to be profitable. A strong profit is Harju Elekter's most important sustainability objective, without which it will not be possible to meet the growing expectations of stakeholders. The third quarter saw a number of important and successful events: the appointment of managing directors for subsidiaries in Sweden and Finland; winning the procurement contract with Elektrilevi for supplying substations for the next five years; and exiting the wholesale and retail business in Estonia. Although the individual project contracts signed by our Swedish subsidiary a few years ago have proven to be more unprofitable than expected, the potential of the Swedish market and the demand for our products are sufficient to continue our efforts of starting up a factory in Sweden and reaching profitability in the coming quarters and years. Evaluating Harju Elekter's overall financial position and the developments resulting from the restructuring of the Group's management structure, Harju Elekter can be satisfied with the results as it celebrates its 55th year of operation. Revenue and financial results The Group's revenue for the reporting quarter was 56.2 (2022 Q3: 46.1) million euros, growing by 22.1% compared to the comparable period. Nine-month revenue increased by 26.3% compared to the comparable period, being 158.3 (2022 9M: 125.3) million euros. The majority of the increase in revenue came from the sale of electrical equipment, increasing by 11.7 million euros year-on-year. In the comparison of nine months, the revenue of electrical equipment increased by 39.4 million euros. ------------------------------------------------------------------------------- EUR'000 Q3 Q3 +/- 9 M 9 M +/- 2023 2022 2023 2022 ------------------------------------------------------------------------------- Revenue 56,247 46,081 22.1% 158,277 125,315 26.3% Gross profit 7,378 5,803 27.1% 19,372 9,751 98.7% EBITDA 4,899 3,182 54.0% 10,524 1,161 806.5% Operating profit/loss (-) (EBIT) 3,846 1,691 127.4% 7,323 -2,482 395.0% Profit/loss (-) for the period 3,393 1,406 141.3% 5,026 -3,085 262.9% Earnings per share (EPS) (euros) 0.18 0.08 137.5% 0.27 -0.17 258.8% ------------------------------------------------------------------------------- The Group's operating expenses totaled 52.4 (2022 Q3: 44.3) in the reporting quarter and 150.4 (2022 9M: 127.8) million in nine months. The majority of the increase in operating expenses was caused by the increase in the costs of sales, which in both periods was below the growth rate of revenue, by 0.8 in the quarter and by 6.1 percentage points in the nine-month comparison. Distribution costs in the reporting quarter were 1.4 (2022 Q3: 1.3) and administration expenses 2.2 (2022 Q3: 2.7) million euros. The total distribution costs for the nine months were in the same order of magnitude as the year before - 4.1 million euros, and administrative expenses were 7.5 (2022 9M: 8.2) million euros. Labour costs increased in both periods, being 9.3 (2022 Q3: 7.5) and 29.5 (2022 9M: 25.3) million euros, respectively. The majority of the increase in labour costs originates from staff growth, and the growth in average wages was influenced by wage pressure from the overall economy. The gross profit for the reporting quarter was 7,378 (2022 Q3: 5,803) thousand euros and the gross margin was 13.1% (2022 Q3: 12.6%). Operating profit (EBIT) was 3,846 (2022 Q3: 1,691) thousand euros. The operating margin of the third quarter was 6.8% (2022 Q3: 3,7%). The net profit for the reporting quarter was 3,393 (2022 Q3: 1,406) thousand euros. Net profit per share in the third quarter was 0.18 (2022 Q3: 0.08) euros. The gross profit for the nine months was 19,372 (2022 9M: 9,751) thousand euros and the gross margin was 12.2% (2022 9M: 7.8%). During the nine months, operating profit (EBIT) was 7,323 (2022 9M: operating loss -2,482) and net profit 5,026 (2022 9M: net loss -3,085) thousand euros. Net profit per share was 0.27 (2022 9M: net loss per share -0.17) euros. Core business and markets During the reporting quarter, the Group's core activity - production - accounted for 95.2% (2022 Q3: 89.3%) of its revenue. The revenue of the production segment increased by 30.1% in the reporting quarter and 34.9% compared to nine months, being 53.6 and 150.1 million euros, respectively. The Group's largest target markets are Estonia, Finland, Sweden, and Norway, where a total of 81.7% (2022 Q3: 92.6%) of the Group's products and services were sold in the reporting quarter. In the third quarter, 5.1 (2022 Q3: 8.9) million euros were earned from Estonia, which was 3.8 million euros less than a year earlier. Compared to nine months, the revenue decreased by 7.0 million to 15.6 million euros. The decrease in revenue in both periods is mostly related to the termination of the retail and project-based sale of electrical products in Estonia and the decrease in sales of electrical equipment to contractual customers. Revenue from the Finnish market in the third quarter was 20.5 (2022 Q3: 21.8) million euros in the third quarter and 63.7 (2022 9M: 60.6) million in nine months. The majority of the increase in revenue came from the sale of automation equipment and low-voltage switchgears to key customers. During the reporting quarter, 36.5% (2022 Q3: 47.3%) of Harju Elekter products and services were sold to the Group's largest market. The revenue of the Swedish market increased due to the rise in the sale of substations and the growth of project business, being 7.7 (2022 Q3: 6.4) in the reporting quarter and 23.3 (2022 9M: 15,8) million in the nine months. Sweden accounted for 13.7% (2022 Q3: 14.0%) of the revenue of the reporting quarter. Revenue from the Norwegian market was 12.6 (2022 Q3: 5.5) in the reporting quarter and 28.1 (2022 9M: 12.9) million euros in nine months. The Norwegian market accounted for 22.4% (2022 Q3: 12.0%), of the revenue of the reporting quarter, growing into the second largest market after Finland. Investments During the reporting period, Harju Elekter Group invested a total of 5.0 (2022 9M: 3.1) million euros in non-current assets, incl 4.2 (2022 9M: 1.6) in investment properties, 0.6 (2022 9M: 1.1) in property, plant, and equipment and 0.2 (2022 9M: 0.4) million euros in intangible assets. Most of the investments during the reporting period were made in the construction of the production building to be rented out to Reimax Electronics OÜ in the Allika Industrial Park, scheduled to be completed by the end of the year. In addition, investments were made in other real estate objects, production technology equipment, and production and process management systems. The value of the Group's non-current financial investments totalled 32.5 (31.12.22: 23.7) million euros as of the reporting date. Due to the revaluation of financial assets performed in the second quarter, the estimated fair value of OÜ Skeleton Technologies Group's investment increased by 8.8 million euros to 30.6 million euros. The fair value didn't change in the third quarter. Share The company's share price on the last trading day of the reporting quarter on the Nasdaq Tallinn Stock Exchange closed at 5.0 euros. As of 30 September 2023, AS Harju Elekter Group had 11,269 shareholders. The number of shareholders increased during the reporting quarter by 95 members. CONSOLIDATED STATEMENT OF FINANCIAL POSITION Unaudited ------------------------------------------------------------------------------ EUR '000 30.09.2023 31.12.2022 30.09.2022 ------------------------------------------------------------------------------ ASSETS Current assets Cash and cash equivalents 596 9,152 504 Trade and other receivables 42,522 31,612 34,069 Prepayments 1,818 1,126 1,497 Inventories 40,183 37,068 43,809 Total current assets 85,119 78,958 79,879 ------------------------------------------------------------------------------ Non-current assets Deferred income tax assets 994 1 008 756 Non-current financial investments 32,509 23,731 23,707 Investment properties 28,146 24,756 24,754 Property, plant, and equipment 33,590 35,740 25,490 Intangible assets 7,315 7,244 7,372 Total non-current assets 102,554 92,479 82,079 ------------------------------------------------------------------------------ TOTAL ASSETS 187,673 171,437 161,958 ------------------------------------------------------------------------------ LIABILITIES AND EQUITY Liabilities Borrowings 19,839 24,385 20,667 Prepayments from customers 18,675 16,827 8,021 Trade and other payables 28,343 24,502 32,720 Tax liabilities 3,618 3,478 3,881 Current provisions 60 2,103 535 Total current liabilities 70,535 71,295 65,824 ------------------------------------------------------------------------------ Borrowings 23,743 20,732 14,222 Other non-current liabilities 0 0 32 Total non-current liabilities 23,743 20,732 14,254 ------------------------------------------------------------------------------ TOTAL LIABILITIES 94,278 92,027 80,078 ------------------------------------------------------------------------------ Equity Share capital 11,655 11,523 11,523 Share premium 3,306 2,509 2,509 Reserves 26,580 17,768 17,756 Retained earnings 51,854 47,771 50,291 Total equity attributable to the owners of the parent company 93,395 79,571 82,079 Non-controlling interests 0 -161 -199 Total equity 93,395 79,410 81,880 ------------------------------------------------------------------------------ TOTAL LIABILITIES AND EQUITY 187,673 171,437 161,958 ------------------------------------------------------------------------------ CONSOLIDATED STATEMENT OF PROFIT AND LOSS Unaudited ------------------------------------------------------------------------ EUR '000 Q3 Q3 9 M 9 M 2023 2022 2023 2022 ------------------------------------------------------------------------ Revenue 56,247 46,081 158,277 125,315 Cost of sales -48,869 -40,278 -138,905 -115,564 Gross profit 7,378 5,803 19,372 9,751 Distribution costs -1,392 -1,264 -4,060 -4,128 Administrative expenses -2,164 -2 728 -7,455 -8,157 Other income 24 0 223 342 Other expenses 0 -120 -757 -290 Operating profit/loss (-) 3,846 1,691 7,323 -2,482 Finance income 3 0 71 74 Finance costs -340 -146 -1,910 -377 Profit/loss (-) before tax 3,509 1,545 5,484 -2,785 Income tax -116 -139 -458 -300 Profit/loss (-) for the period 3,393 1,406 5,026 -3,085 ------------------------------------------------------------------------ Profit /loss (-) attributable to: Owners of the parent company 3,393 1,493 5,026 -3,024 Non-controlling interests 0 -87 0 -61 ------------------------------------------------------------------------ Earnings per share Basic earnings per share (euros) 0.18 -0.08 0.27 -0.17 Diluted earnings per share (euros) 0.18 -0.08 0.27 -0.17 ------------------------------------------------------------------------ CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Unaudited ---------------------------------------------------------------------------- EUR '000 Q3 Q3 9 M 9 M 2023 2022 2023 2022 ---------------------------------------------------------------------------- Profit/loss (-) for the period 3,393 1,406 5,026 -3,085 Other comprehensive income (loss) Items that may be reclassified to profit or loss Impact of exchange rate changes of a foreign subsidi¬aries -49 -96 74 -161 Items that will not be reclassified to profit or loss Gain on sales of financial assets 0 0 0 320 Net gain/loss (-) on revaluation of financial assets -83 112 8,782 -746 Total comprehensive income (loss) for the period -132 16 8,856 -587 Other comprehensive income (loss) 3,261 1,422 13,882 -3,672 ---------------------------------------------------------------------------- Total comprehensive income (loss) attributable to: Owners of the Company 3,261 1,412 13,882 -3,708 Non-controlling interests 0 10 0 36 ---------------------------------------------------------------------------- Priit Treial CFO and Member of the Management Board +372 674 7400