Market announcement
Nordic Fibreboard AS
Category
Annual financial report
Attachments
Date
30.04.2024 16:22:33
Title
Nordic Fibreboard AS auditeeritud majandusaasta aruanne 2023
Message
Nordic Fibreboard AS nõukogu kiitis heaks 2023. aasta auditeeritud majandusaasta aruande 30.04.2024. Nõukogu otsustas juhatuse poolt ette valmistatud aruande ja ettepaneku kasumi jaotamise kohta saata kinnitamiseks aktsionäride korralisele üldkoosolekule juhatuse poolt esitatud kujul. MAJANDUSTEGEVUSE ÜLEVAADE Konsolideeritud müügitulu oli 2023. aastal 7,71 miljonit eurot, mis on 30% väiksem võrreldes 2022. aasta 11,07 miljoni suuruse müügituluga. Puitkiudplaadi tootmisest tulenev müügitulu oli 2023. aastal 7,66 miljonit eurot (2022. aastal 11,04 miljonit eurot). Peamiseks müügitulu languse põhjuseks, võrreldes 2022. aastaga oli tarnete lõpetamine Taani suurkliendile ning ülemaailmne majanduslik ebakindlus, mis mõjutas nii lõpptarbijaid kui ka tööstuslikku suunda omavaid ärikliente. Kinnisvara haldusest tulenev müügitulu oli 2023. aastal 47 tuhat eurot (2022. aastal 39 tuhat eurot). Nordic Fibreboard AS konsolideeritud EBITDA oli 2023. aastal 0,58 miljonit eurot (2022: 1,73 miljonit eurot). EBITDA rentaablus oli 2023. aastal 8% mis langes võrreldes 2022. aastaga 8 protsendipunkti. 2023. aasta EBITDA ei sisalda erakorralist muud ärikulu, kuid sisaldab ühekordset tulu 404 tuhat eurot kinnisvarainvesteeringute ümberhindlustest Pärnu Riverside Development OÜ-s ja Nordic Fibreboard Ltd OÜ-s (2022. aastal tulu kinnisvarainvesteeringu ümberhindlusest 697 tuhat eurot Pärnu Riverside Development OÜ-s). Kontserni brutomarginaal aga langes 2022. aasta 23%-lt 2023. aastal 18%-le, brutomarginaali languse peamiseks põhjuseks oli ettevõtte sisendkulude hindade oluline tõus ning müügimahtude vähenemine. Nordic Fibreboard AS konsolideeritud puhaskahjum oli 2023. aastal 0,68 miljonit eurot (2022: puhaskasum 1,23 miljonit eurot). 2023. aasta puhaskahjum sisaldas Nordic Fibreboard Ltd-le kuuluvatelt Trigon Property Development AS (TPD) aktsiate ümberhindlusest saadud kahjumit summas 153 tuhat eurot, 2022. aasta puhaskasum sisaldas 129 tuhat eurot dividende Trigon Property Development AS akstiatelt. Konsolideeritud finantsseisundi aruanne tuh EUR |31.12.2023|31.12.2022 ---------------------------------------------------------+----------+---------- Raha ja raha ekvivalendid | 7| 2 ---------------------------------------------------------+----------+---------- Nõuded ja ettemaksed (Lisa 5) | 534| 559 ---------------------------------------------------------+----------+---------- Varud (Lisa 6) | 728| 1 672 ---------------------------------------------------------+----------+---------- Kokku käibevarad | 1 269| 2 233 ---------------------------------------------------------+----------+---------- | | ---------------------------------------------------------+----------+---------- Kinnisvarainvesteeringud (Lisa 7) | 2 269| 1 859 ---------------------------------------------------------+----------+---------- Finantsvarad õiglases väärtuses muutustega läbi | | kasumiaruande (Lisa 9) | 491| 644 ---------------------------------------------------------+----------+---------- Materiaalne põhivara (Lisa 8) | 4 475| 4 670 ---------------------------------------------------------+----------+---------- Immateriaalne põhivara (Lisa 8) | 1| 2 ---------------------------------------------------------+----------+---------- Kokku põhivarad | 7 236| 7 175 ---------------------------------------------------------+----------+---------- | | ---------------------------------------------------------+----------+---------- KOKKU VARAD | 8 505| 9 408 ---------------------------------------------------------+----------+---------- | | ---------------------------------------------------------+----------+---------- Võlakohustised (Lisas 10) | 556| 290 ---------------------------------------------------------+----------+---------- Võlad ja ettemaksed (Lisas 11) | 756| 1 014 ---------------------------------------------------------+----------+---------- Lühiajalised eraldised (Lisa 12) | 21| 18 ---------------------------------------------------------+----------+---------- Kokku lühiajalised kohustised | 1 333| 1 322 ---------------------------------------------------------+----------+---------- | | ---------------------------------------------------------+----------+---------- Pikaajalised võlakohustised (Lisas 10) | 2 659| 2 875 ---------------------------------------------------------+----------+---------- Pikaajalised eraldised (Lisa 12) | 111| 127 ---------------------------------------------------------+----------+---------- Kokku pikaajalised kohustised | 2 770| 3 002 ---------------------------------------------------------+----------+---------- Kokku kohustised | 4 103| 4 324 ---------------------------------------------------------+----------+---------- | | ---------------------------------------------------------+----------+---------- Aktsiakapital (nominaalväärtuses) (Lisa 13) | 450| 450 ---------------------------------------------------------+----------+---------- Kohustuslik reservkapital | 45| 45 ---------------------------------------------------------+----------+---------- Jaotamata kasum | 3 907| 4 589 ---------------------------------------------------------+----------+---------- Kokku omakapital | 4 402| 5 084 ---------------------------------------------------------+----------+---------- | | ---------------------------------------------------------+----------+---------- KOKKU KOHUSTISED JA OMAKAPITAL | 8 505| 9 408 Konsolideeritud kasumi - ja muu koondkasumi aruanne tuh EUR | 2023| 2022 ----------------------------------------------------------------+------+------ Müügitulu (Lisa 22) | 7 704|11 074 ----------------------------------------------------------------+------+------ Müüdud toodangu kulu (Lisa 15) | 6 810| 9 024 ----------------------------------------------------------------+------+------ Brutokasum | 894| 2 050 ----------------------------------------------------------------+------+------ | | ----------------------------------------------------------------+------+------ Turustuskulud (Lisa 16) | 673| 1 112 ----------------------------------------------------------------+------+------ Üldhalduskulud (Lisa 17) | 514| 424 ----------------------------------------------------------------+------+------ Muud äritulud (Lisa 19) | 404| 730 ----------------------------------------------------------------+------+------ Muud ärikulud (Lisa 20) | 427| 9 ----------------------------------------------------------------+------+------ Ärikasum (-kahjum) | (316)| 1 235 ----------------------------------------------------------------+------+------ | | ----------------------------------------------------------------+------+------ Finantstulud (Lisa 21) | 0| 129 ----------------------------------------------------------------+------+------ Finantskulud (Lisa 21) | 366| 130 ----------------------------------------------------------------+------+------ Kasum (-kahjum) enne tulumaksustamist | (682)| 1 234 ----------------------------------------------------------------+------+------ | | ----------------------------------------------------------------+------+------ ARUANDEAASTA PUHASKASUM (-KAHJUM) KOKKU | (682)| 1 234 ----------------------------------------------------------------+------+------ | | ----------------------------------------------------------------+------+------ Tava perioodi puhaskasum (-kahjum) aktsia kohta (Lisa 14) |(0,15)| 0,27 ----------------------------------------------------------------+------+------ Lahustatud perioodi puhaskasum (-kahjum) aktsia kohta (Lisa 14)|(0,15)| 0,27 Nordic Fibreboard AS-i 2023. majandusaasta auditeeritud aruande originaaldokument on esitatud masinloetavas .xhtml formaadis Nasdaq Tallinna börsile ja allkirjastatud digitaalselt (Link: https://nasdaqbaltic.com/statistics/et/instrument/EE3100092503/reports (https://www.globenewswire.com/Tracker?data=U0yi7xiinAm- N1fVcxHujbZVIvsQQfHei1NaHfAVgAKMYRy2t8SicjE2Vzxqme4Oxixx35jM2- m2WCu1SideKh1vsTKnV33cdoeMXr-2wyfBP5PhZW8sxkMIQkfJ2NTcJwQJFeNn3HraF32-Aor- NEsFtTPwT2wvzTY6DOQON1E54crbKYu-17e5lltAP4ef7DIVrIfcZ60zBCEDuVf7q-zF3Qn87HI- KAf4frMyzZ3Pkq0Byf8MhF2ruNBa6TP9xbPuMPEsAreZX5hODXh1B9oF6MBVTLkwtx17vEuY6DuDZtXx b6vWLPzffwl- Ca4AYKPkJAkEp3gpIDH79QPi7UYd3M0llPPoW8LuJkv3Vk45_5EF7lUyfpI2azt84kXCfjRP7mlMhLuc -Hqmk2UmC2wf_3ks8cUOkp8JWgqE- l_AyiQfEbJxrwuRdDemw7eDmE13zHyKxvGe8dEj4cvlOUWy1IgvBbob0FM2- IWr_6G8V0X94AShDsxQUIaQc2qf)) Nordic Fibreboard AS-i auditeeritud 2023. aasta majandusaasta aruanne on lisatud manusena börsiteatele ning on avalikustatud NASDAQ Tallinn ja Nordic Fibreboard koduleheküljel ( https://group.nordicfibreboard.com/et/investor/finantsaruanded/aastaaruanded (https://www.globenewswire.com/Tracker?data=U0yi7xiinAm- N1fVcxHujZH6UQVWaTPL9fKoSVovP13TVdsrle-Ssjqt- SE4FJZku5Ivz1I8qjYX8T780xE1VqBodAB1v3aH8Qi7_qmAsgiUVPL7eCFanDQ4zBGcUJI_TKwssDB29 iEZtR_k9V29oat7J4D3mLml6Wy-CRw_r1ikzUSfdYeaVxkL2_cqc9DB54EhBlAqTu- 67lSU5sddO1NFOo-blIlqDYcq4mrLc8k=)) Enel Äkke Juhatuse liige Telefon: + 372 55 5255 50 E-mail: enel.akke@nordicfibreboard.com
Title
Nordic Fibreboard AS Audited Annual Report 2023
Message
The Supervisory Board of Nordic Fibreboard AS approved on30th of April 2024 the
audited annual report for the year 2023. The supervisory board decided to
present the annual report and profit allocation proposal as prepared by the
management for the approval of the general meeting of shareholders.
OVERVIEW OF OPERATING RESULTS
Consolidated net sales for 2023 were EUR 7.71 million, which is a decrease of 30%
compared to 2022 sales of EUR 11.07 million. The sales revenue from the production
of fibreboard was EUR 7.66 million in 2023 (2022: EUR 11.04 million). ). The main
reason behind the decrease in sales revenue compared to 2022 was termination of
deliveries to a major customer in Denmark and along with global economic
uncertainty affecting both end-users and industrial-oriented business customers.
The sales revenue in 2023 from real estate management was EUR 47 thousand (2022: EUR
39 thousand).
The consolidated EBITDA of Nordic Fibreboard AS for 2023 was EUR 0.58 million
(2022: EUR 1.73 million). EBITDA margin was 8% in 2023, down 8 percentage points
from 2022 (2022: 16%). The 2023 EBITDA does not include extraordinary other
operating expenses but includes a one-time income of EUR 404 thousand from the
revaluation of the real estate investment in Pärnu Riverside Development OÜ and
Nordic Fibreboard Ltd OÜ (In 2022, income from revaluation of real estate
investment was 697 thousand euros in Pärnu Riverside Development OÜ). However,
the Group's gross margin fell from 23% for full year 2022 to 18% for full year
2023, the main reason for the decline in the gross margin was a significant
increase in the prices of the company`s input costs and a decrease in sales
volumes.
The consolidated net loss of Nordic Fibreboard AS for 2023 was EUR 0.68 million
(2022: net profit EUR 1.23 million). The net loss of 2023 included the loss from
the revaluation of the shares of Trigon Property Development AS (TPD) owned by
Nordic Fibreboard Ltd in the amount of EUR 153 thousand, the net profit of 2022
included EUR 129 thousand of dividends from the shares of Trigon Property
Development AS.
CONSOLIDATED STATEMENT OF FINANCIAL POSITIONS
EUR thousand |31.12.2023|31.12.2022
---------------------------------------------------------+----------+----------
Cash and cash equivalents | 7| 2
---------------------------------------------------------+----------+----------
Receivables and prepayments (Note 5) | 534| 559
---------------------------------------------------------+----------+----------
Inventories (Note 6) | 728| 1,672
---------------------------------------------------------+----------+----------
Total current assets | 1,269| 2,233
---------------------------------------------------------+----------+----------
| |
---------------------------------------------------------+----------+----------
Investment property (Note 7) | 2,269| 1,859
---------------------------------------------------------+----------+----------
Financial assets at fair value through profit or loss | |
(Note 9) | 491| 644
---------------------------------------------------------+----------+----------
Property, plant and equipment (Note 8) | 4,475| 4,670
---------------------------------------------------------+----------+----------
Intangible assets (Note 8) | 1| 2
---------------------------------------------------------+----------+----------
Total non-current assets | 7,236| 7,175
---------------------------------------------------------+----------+----------
| |
---------------------------------------------------------+----------+----------
TOTAL ASSETS | 8,505| 9,408
---------------------------------------------------------+----------+----------
| |
---------------------------------------------------------+----------+----------
Borrowings (Notes 10) | 556| 290
---------------------------------------------------------+----------+----------
Payables and prepayments (Notes 11) | 756| 1,014
---------------------------------------------------------+----------+----------
Short-term provisions (Note 12) | 21| 18
---------------------------------------------------------+----------+----------
Total current liabilities | 1,333| 1,322
---------------------------------------------------------+----------+----------
| |
---------------------------------------------------------+----------+----------
Long-term borrowings (Notes 10) | 2,659| 2,875
---------------------------------------------------------+----------+----------
Long-term provisions (Note 12) | 111| 127
---------------------------------------------------------+----------+----------
Total non-current liabilities | 2,770| 3,002
---------------------------------------------------------+----------+----------
Total liabilities | 4,103| 4,324
---------------------------------------------------------+----------+----------
| |
---------------------------------------------------------+----------+----------
Share capital (at nominal value) (Note 13) | 450| 450
---------------------------------------------------------+----------+----------
Statutory reserve capital | 45| 45
---------------------------------------------------------+----------+----------
Retained earnings | 3,907| 4,589
---------------------------------------------------------+----------+----------
Total equity | 4,402| 5,084
---------------------------------------------------------+----------+----------
| |
---------------------------------------------------------+----------+----------
| | 9,408
| |
TOTAL LIABILITIES AND EQUITY | 8,505|
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMREHENSIVE INCOME
EUR thousand | 2023 | 2022
-------------------------------------------+--------+--------
Revenue (Note 22) | 7,704 | 11,074
-------------------------------------------+--------+--------
Cost of goods sold (Note 15) | 6,810 | 9,024
-------------------------------------------+--------+--------
Gross profit | 894 | 2,050
-------------------------------------------+--------+--------
| |
-------------------------------------------+--------+--------
Distribution costs (Note 16) | 673 | 1,112
-------------------------------------------+--------+--------
Administrative expenses (Note 17) | 514 | 424
-------------------------------------------+--------+--------
Other operating income (Note 19) | 404 | 730
-------------------------------------------+--------+--------
Other operating expenses (Note 20) | 427 | 9
-------------------------------------------+--------+--------
Operating profit (loss) | (316) | 1,235
-------------------------------------------+--------+--------
| |
-------------------------------------------+--------+--------
Finance income (Note 21) | 0 | 129
-------------------------------------------+--------+--------
Finance costs (Note 21) | 366 | 130
-------------------------------------------+--------+--------
Profit (loss) before income tax | (682) | 1,234
-------------------------------------------+--------+--------
| |
-------------------------------------------+--------+--------
NET PROFIT (LOSS) FOR THE FINANCIAL YEAR | (682) | 1,234
-------------------------------------------+--------+--------
| |
-------------------------------------------+--------+--------
Basic earnings per share (Note 14) | (0.15) | 0.27
-------------------------------------------+--------+--------
Diluted earnings per share (Note 14) | (0.15) | 0.27
A copy of Nordic Fibreboard AS audited annual report for 2023 is attached to the
announcement and is also published on NASDAQ Tallinn and Nordic Fibreboard web
page (https://group.nordicfibreboard.com/en/investor/financial-reports/annual-
reports (https://www.globenewswire.com/Tracker?data=U0yi7xiinAm-
N1fVcxHujZH6UQVWaTPL9fKoSVovP13TVdsrle-Ssjqt-
SE4FJZkYCilOC0fgxtSHXlpYXPkwdTYWdec66pKv0EfqaymjEGIhLYeHumn-LxnN-
XgPc_FlPIQnTU_m_OlHSn1oxLR_XzvBksZi6_rW56IBi2JLtSjKToNqzJMcrj73JR76WoVz7pufTaDIN
XQkS2NQedWtPgkoU-HLQq6MhBxgNIEYRwGlD1ryddVhIQRZGD-u2HG)).
The ESEF-compliant machine-readable annual report is generated only in Estonian
language.
Enel Äkke
Member of the Management Board
Phone: + 372 55 525550
E-mail: enel.akke@nordicfibreboard.com