Market announcement
AS INFORTAR
Category
Other corporate action
Attachments
Date
06.05.2024 09:00:00
Title
Aktsiaselts Infortar 2024. majandusaasta auditeerimata konsolideeritud I kvartali vahearuanne
Message
Aktsiaselts Infortar korraldab täna kõikidele huvilistele 1 kvartali 2024
tulemusi tutvustava veebiseminari. Veebiseminariga ühinemiseks palume kasutada
järgmiseid linke:
* kell 12:00 eestikeelne veebiseminar (https://teams.microsoft.com/l/meetup-
join/19%3ameeting_YzllM2VlZDUtZTQzNS00ZDI5LTg2ODQtY2I5MjU1YzAzZWFh%40thread.
v2/0?context=%7B%22Tid%22%3A%2286359415-f0d5-4ea5-bb32-
42128c4493be%22%2C%22Oid%22%3A%2226d1c5dd-51b3-421e-a54d-
7d4596848888%22%2C%22IsBroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&
btype=a&role=a)
* kell 14:00 ingliskeelne veebiseminar (https://teams.microsoft.com/l/meetup-
join/19%3ameeting_NzllNDIwMGQtMmNhMC00ZjdiLThmMDUtMWE4YTk5YjBjYjVl%40thread.
v2/0?context=%7B%22Tid%22%3A%2286359415-f0d5-4ea5-bb32-
42128c4493be%22%2C%22Oid%22%3A%2226d1c5dd-51b3-421e-a54d-
7d4596848888%22%2C%22IsBroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&
btype=a&role=a)
Möödunud aasta lõpul Tallinna börsi põhinimekirja lisandunud Infortari käesoleva
aasta esimese kvartali tulemused kujunesid rekordiliseks - ettevõtte müügitulu
kasvas 373 miljoni euroni ja kasum 62 miljoni euroni.
?Infortaril õnnestus stabiliseerunud energiahindade juures oma müügimahtusid
kasvatada ning jätkata laienemist uutel turgudel ja valdkondades. Tänaseks enam
kui 80 protsenti meie müügituludest tuleb välisturgudelt, investeeringud on
olnud kasumlikud ja piirkonna ühe suurima investeerimisettevõttena otsime
alaliselt kasvuvõimalusi," märkis Infortari juhatuse esimees Ain Hanschmidt.
Infortarile kuuluv Soome ja Balti piirkonna suurim erakapitalil energiafirma
Eesti Gaas (välisturgudel Elenger) suurendas müügimahtu võrreldes möödunud aasta
sama perioodiga 74 protsenti, kokku 6,1 TWh-ni. Ettevõtte gaasimüügi turuosa
Soome-Balti turul kasvas 26,4 protsendini ning piirkonda saabuvast gaasist
impordib Eesti Gaas/Elenger ca kolmandiku.
Lisaks energeetikale, laevandusele ja kinnisvarale sisenes Infortar ka
põllumajanduse valdkonda soetades enamusosaluse Eesti ühes suurimas piimafarmis
Pärnumaal Halingal. Laevanduses teenis Tallink esimeses kvartalis kasumit.
Kinnisvara valdkonnas valmis aasta alguses Maardus Tallinki logistikakeskuse
laiendus, Saue vallas jätkuvad 25 000 m(2) suuruse RIMI logistikakeskuse ning
Pärnus uue silla ehitustööd.
Võrreldes möödunud aasta esimese kvartaliga kasvas Infortari EBITDA 40 protsenti
ja kasum 32 protsenti. Infortari omakapital ulatus käesoleva aasta 31. märtsi
seisuga 853 miljoni euroni ja varade maht 1,4 miljardi euroni. Investeeringuid
tegi ettevõte esimeses kvartalis 7 miljoni euro ulatuses.
Alates möödunud aasta lõpust on Infortari aktsia noteeritud Nasdaq Baltic
börsil. Ettevõtte aktsiate esmasel avalikul pakkumisel osales kokku 5517
jaeinvestorit Eestist ja kutselist investorit Euroopast, investorite esitatud
märkimiste kogumaht ulatus 41,4 miljoni euroni, mis oli 1,3 korda rohkem
pakkumise baasmahust. Infortari aktsia on olnud käesoleva aasta esimeses
kvartalis Nasdaq Baltic börsi põhinimekirjas suurim tõusja, ettevõtte aktsia
tõusis esimeses kvartalis 27 protsenti.
Tähtsamad finantsnäitajad ja suhtarvud
1 kv 2024 1 kv 2023 2023
Müügitulu (tuhandetes eurodes) 372 584 347 480 1 084 626
Brutokasum (tuhandetes eurodes) 50 004 65 812 149 473
EBITDA (tuhandetes eurodes) 74 004 52 560 143 283
EBITDA marginaal (%) 19,9% 15,1% 13,2%
Ärikasum (-kahjum) (EBIT) (tuhandetes eurodes) 67 624 49 679 123 628
Aruandeaasta kasum/ kahjum (miljonites eurodes) 62 062 46 777 293 830
Puhaskasum aktsia kohta (eurodes)* 2,9 2,2* 13,9*
Omakapital 852 690 566 482 820 210
Kohustised 375 327 340 568 441 160
*Kasum aktsia kohta on arvutatud kõikidel esitatud perioodidel järgmise valemi
alusel: aruandeaasta puhaskasum jagatud 31.03.2024 seisuga emiteeritud aktsiate
arvuga (1 kv 2024 = (62 062*1000) / 21 166 239= 2,9 eurot aktsia kohta).
Aastatel 2023 ja 2024 on toimus aktsia jagunemine ja uute aktsiate emiteerimine,
võrreldavuse huvides kasutatakse valemis iga kord hetkel kehtivat aktsiate arvu.
Müügitulu
2024. majandusaasta 1 kvartalis suurenes kontserni konsolideeritud müügitulu
25,1 miljoni euro võrra 372,6 miljoni euroni (2023 konsolideeritud müügitulu
esimeses kvartalis 347,5 miljonit eurot). Olulist positiivset mõju avaldas
piirkondliku gaasimüügi turuosa kasv 26% protsendini, mis võimaldas müügitulu
võrreldes eelneva aastaga suurendada.
EBITDA ja segmendiaruandlus
Energeetikasegmendi EBITDA oli 2024. majandusaasta esimeses kvartalis 73,9
miljonit eurot (2023. majandusaasta esimeses kvartalis 50,5 miljonit eurot).
Kasumlikkus ei ole seotud energiahindade muutlikkusega vaid turuosa ja
müügimahtude suurenemisega. Kontserni tütarühing AS Eesti Gaas juhib teadlikult
hinnariske, kasutades selleks tuletisinstrumente ja piirkondlikke maagaasi
ladustamise võimalusi.
Laevanduse segmendi EBITDA oli 2024. majandusaasta esimeses kvartalis 34,5
miljonit eurot (2023. majandusaasta esimeses kvartalis 27,1 miljonit eurot).
Infortar konsolideerib AS Tallink Grupp tulemused kapitaliosaluse meetodil, ehk
vastavalt oma osaluse protsendile AS-s Tallink Grupp, segmendiaruandluses on
vastavalt kehtivatele raamatupidamisreeglitele kajastatud 100% AS Tallink Grupp
tulemused (sealhulgas 100 protsenti EBITDA).
Kinnisvarasegmendis võetakse kasumlikkuse hindamisel arvesse eraldiseisvate
kinnisvara ettevõtete EBITDA. Kinnisvara EBITDA oli 2024. majandusaasta esimeses
kvartalis 3,8 miljonit eurot (2023. majandusaasta esimeses kvartalis 3,7
miljonit eurot). 2024 esimeses kvartalis sai valmis Tallinki logistikakeskuse
laiendus, mille tulemusena lisandus kinnisvara portfelli 3800 ruutmeetrit
laopinda.
Puhaskasum
Konsolideeritud puhaskasum oli 2024. majandusaasta esimeses kvartalis 62,1
miljonit eurot (2023. majandusaasta esimeses kvartalis 46,8 miljonit eurot).
Finantseerimine
Laenu ja liisingkohustised olid 2024. majandusaasta esimeses kvartalis 375,3
miljonit eurot (2023. majandusaasta esimeses kvartalis 340,6 miljonit eurot).
Ettevõtte netovõlg vähenes 2023.a. lõpu seisuga võrreldes 354 miljonilt 196
miljonile, Netovõla ja EBITDA suhtarv on 1,3.
Konsolideeritud kasumiaruanne, tuhandetes eurodes
1 kv 2024 1 kv 2023 2023
Müügitulu 372 584 347 480 1 084 626
Müügikulu -322 573 -281 478 -934 811
Nõuete allahindlused -7 -190 -342
Brutokasum 50 004 65 812 149 473
Turustuskulud -415 -346 -1 620
Üldhalduskulud -7 238 -3 250 -22 085
Kasum (-kahjum) kinnisvarainvesteeringute
õiglase väärtuse muutusest 156 0 -4 074
Kasum (-kahjum) tuletisinstrumentidest 24 659 0 1 969
Muud äritulud 600 527 2 523
Muud ärikulud -142 -13 064 -2 558
Ärikasum 67 624 49 679 123 628
Kasum (-kahjum) kapitaliosaluse meetodil
arvestatud investeeringutelt 2 000 723 39 639
Finantstulud ja - kulud
Finantsinvesteeringute tulu/-kulu 0 -24 -4
Intressikulu -6 745 -3 955 -22 573
Intressitulu 1 244 645 2 765
Kasum-kahjum valuutakursi muutustest -2 -129 -173
Muud finantstulud/-kulud 4 0 159 158
Finantstulud ja - kulud kokku -5 499 -3 463 139 173
Kasum enne maksustamist 64 125 46 939 302 440
Ettevõtte tulumaks -2 063 -162 -8 610
Aruandeaasta kasum/ -kahjum 62 062 46 777 293 830
sealhulgas:
Emaettevõtte omanikele kuuluv kasum/-kahjum 62 167 46 982 293 778
Vähemusosalusele kuuluv kasum/-kahjum -105 -205 52
Muu koondkasum kokku
-58 275
Sealhulgas:
Emaettevõtte omanikele kuuluv kasum/-kahjum 235 547
Vähemusosalusele kuuluv kasum/ -kahjum 52
Tavakasum aktsia kohta 14,62
Lahustatud kasum aktsia kohta 14,15
* Mitterahalised tuletisinstrumentide ümberhindlused koondkasumites ei mõjuta
AS-i Eesti Gaasi ega Infortari põhiäritegevuse kasumlikkust ega rahavoo
teenimise võimet.
Konsolideeritud finantsseisundi aruanne, tuhandetes eurodes
VARAD 31.03.24 31.03.23 31.12.2023
KÄIBEVARA
Raha 179 528 199 845 87 115
Lühiajalised finantsinvesteeringud 1 1 0
Lühiajalised tuletisinstrumendid 3 938 26 922 28 728
Realiseerunud tuletisinstrumentide nõuded 5 050 24 198 5 958
Nõuded ostjatele 121 920 93 549 162 575
Maksude ettemaksed 1 067 1 064 925
Muud nõuded ja ettemaksud 16 982 3 931 20 185
Ettemaksed varude eest 3 560 16 370 3 493
Varud 61 839 38 360 146 884
Käibevara kokku 393 885 404 240 455 863
PÕHIVARA
Investeeringud sidusettevõtetesse 348 811 300 711 346 014
Pikaajalised tuletisinstrumendid 395 6 508 1 125
Pikaajalised laenud ja muud nõuded 7 519 10 037 9 072
Kinnisvarainvesteeringud 179 655 163 144 176 024
Materiaalne põhivara 443 872 149 928 446 748
Immateriaalne põhivara 14 525 8 876 14 366
Kasutusõigusega vara 10 797 10 055 11 300
Põhivara kokku 1 005 574 649 259 1 004 649
VARAD KOKKU 1 399 459 1 053 499 1 460 512
LÜHIAJALISED KOHUSTISED 31.03.24 31.03.23 31.12.2023
Laenukohustised 120 733 149 249 184 259
Rendikohustised 1 470 1 452 1 766
Võlad tarnijatele 50 766 68 813 74 751
Maksukohustised 23 050 21 792 32 822
Ostjate ettemaksed 2 422 4 666 3 099
Lühiajalised tuletisinstrumendid 1 879 2 842 1 463
Realiseerunud tuletisinstrumendid 13 557 4 364 10 851
Muud lühiajalised kohustised 4 017 590 3 659
Lühiajalised kohustised kokku 217 894 253 768 312 670
PIKAAJALISED KOHUSTISED
Pikaajalised eraldised 11 209 680 8 399
Edasilükkunud tulumaksukohustis 33 684 25 051 33 233
Muud pikaajalised kohustised 29 990 17 651 30 679
Pikaajalised tuletisinstrumendid 868 0 186
Laenukohustised 244 334 181 918 246 410
Rendikohustised 8 790 7 949 8 725
Pikaajalised kohustised kokku 328 875 233 249 327 632
KOHUSTISED KOKKU 546 769 487 017 640 302
OMAKAPITAL
Aktsiakapital 2 117 1 985 2 105
Omaaktsiad -95 -95 -95
Ülekurss 32 484 0 29 344
Reservkapital 205 205 205
Optsioonireserv 4 822 2 123 3 864
Riskimaandamise reserv* -9 662 32 841 24 118
Realiseerimata kursivahed 49 3 -39
Töösuhtejärgsete hüvitiste kohustiste reserv -44 0 -44
Jaotamata kasum 759 918 481 890 466 140
Aruandeaasta kasum 62 167 46 982 293 778
Emaettevõtte omanikele kuuluv omakapital 851 961 565 934 819 376
Vähemusosalus 729 548 834
Omakapital kokku 852 690 566 482 820 210
KOHUSTISED JA OMAKAPITAL KOKKU 1 399 459 1 053 499 1 460 512
* tegemist on arvestusliku riskimaandamise positsiooni muutusega mis mõjutab
koondkasumi tulemust
Rahavood äritegevusest, tuhandetes eurodes
1 kv 2024 1kv 2023 2023
Rahavood äritegevusest
Kasum enne maksustamist 62 062 46 777 293 830
Korrigeerimised
Põhivara kulum ja väärtuse langus 6 536 2 881 15 581
Kinnisvarainvesteeringute väärtuse muutus -156 0 4 074
Kapitaliosaluse kasum/kahjum -2 000 -723 -39 639
Tuletisinstrumentide väärtuse muutus 25 520 50 544 54 122
Muud finantstulud/-kulud -1 161 -621 -161 965
Arvestatud intressikulud 6 745 3 955 22 573
Kasum/kahjum põhivarast -44 -30 -91
Tuludes kajastatud sihtfinantseerimise tulu -42 -279 784
Arvestatud tulumaksukulu 2 063 162 8 610
Makstud tulumaks -1 612 -1 -267
Äritegevusega seotud nõuete ja ettemaksete muutus 44 714 115 296 54 540
Varude muutused 84 979 31 603 -61 914
Äritegevusega seotud kohustiste muutus -60 965 -13 988 -406
Kokku rahavood äritegevusest 166 639 235 576 189 832
Rahavood investeerimistegevusest
Tasutud sidusettevõtete ostul -797 -3 927 -10 314
Tasutud tütarettevõtete ostul 0 -4 -103 414
Antud laenud 0 0 0
Antud laenude tagasimaksed 1 807 5 700 6 652
Laekunud intressid 906 603 2 691
Tasutud kinnisvarainvesteeringute soetamisel -3 474 -2 604 -18 304
Tasutud materiaalse ja immateriaalse põhivara
soetamisel -2 977 -4 635 -18 143
Laekunud kinnisvarainvesteeringute ja põhivara
müügist 66 32 -252
Kokku rahavood investeerimistegevusest -4 469 -4 835 -141 084
Rahavood finantseerimistegevusest
Saadud sihtfinantseerimine 0 0 0
Arvelduskrediidi muutus -30 528 -15 929 14 348
Saadud laene 59 926 900 287 606
Saadud laenude tagasimaksed -95 001 -71 518 -312 846
Rendikohustiste põhiosa tagasimaksed -593 -429 -2 233
Makstud intressid -6 713 -3 922 -22 224
Makstud dividendid 0 0 -15 750
Laekunud aktsiate emiteerimisest 3 152 0 1. 464
Kokku rahavood finantseerimistegevusest -69 757 -90 898 -21 635
Rahavood kokku 92 413 139 843 27 113
Infortar tegutseb kuues riigis, ettevõtte peamised tegevusvaldkonnad on
energeetika, laevandus ja kinnisvara. Infortar omab 42,3 protsendi suurust
osalust AS-is Tallink Grupp, 100% osalust AS-is Eesti Gaas ning mitmekülgset ja
kaasaegset, ca 113 000 m2 suurust kinnisvaraportfelli. Lisaks kolmele
põhitegevusvaldkonnale tegutseb Infortar ka ehituse ja maavarade,
põllumajanduse, trükkimise, taksonduse ja muudes valdkondades. Kokku kuulub
Infortari kontserni 103 ettevõtet: 48 kontserni ettevõtet, 5 sidusettevõtet ja
50 sidusettevõtete tütarettevõtet. Arvestamata sidusettevõtteid annab Infortar
tööd 1325 inimesele.
Lisainfo:
Kadri Laanvee
AS Infortar investorsuhete juht
e-post: kadri.laanvee@infortar.ee
telefon: +372 5156662
https://infortar.ee/investorile
Title
Aktsiaselts Infortar interim report for Q1 2024
Message
Infortar will arrange a webinar for investors today 6 May 2024.Please join the
webinar via the following links:
* at 12:00 (EET) Estonian webinar (https://teams.microsoft.com/l/meetup-
join/19%3ameeting_YzllM2VlZDUtZTQzNS00ZDI5LTg2ODQtY2I5MjU1YzAzZWFh%40thread.
v2/0?context=%7B%22Tid%22%3A%2286359415-f0d5-4ea5-bb32-
42128c4493be%22%2C%22Oid%22%3A%2226d1c5dd-51b3-421e-a54d-
7d4596848888%22%2C%22IsBroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&
btype=a&role=a)
* at 14:00 (EET) English webinar (https://teams.microsoft.com/l/meetup-
join/19%3ameeting_NzllNDIwMGQtMmNhMC00ZjdiLThmMDUtMWE4YTk5YjBjYjVl%40thread.
v2/0?context=%7B%22Tid%22%3A%2286359415-f0d5-4ea5-bb32-
42128c4493be%22%2C%22Oid%22%3A%2226d1c5dd-51b3-421e-a54d-
7d4596848888%22%2C%22IsBroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&
btype=a&role=a)
Infortar's results for the first quarter of 2024 are remarkable, showing
significant growth in revenue and profit. The company's revenue increased to
373 million euros and profit amounted to 62 million.
The chairman of the board of Infortar Ain Hanschmidt comments:
?Infortar succeeded in increasing its sales volumes and continues its expansion
into new markets and sectors amidst stabilized energy prices. Today, more than
80 percent of our revenue is generated from foreign markets. Our investments
have proven profitable, and as one of the largest investment companies in the
region, we are continually seeking new growth opportunities".
Infortar's subsidiary Eesti Gaas (Elenger in foreign markets), which is the
largest privately owned energy company in the region, increased its sales volume
by 74 percent compared to the same period last year, reaching a total of 6.1
TWh. The company's market share in gas sales in the Finnish-Baltic region
increased to 26.4 percent, and Eesti Gaas/Elenger imports about a third of the
natural gas consumed in the region.
In addition to energy, maritime transport and real estate, Infortar entered the
agriculture sector by signing agreements to acquire a majority stake in one of
Estonia's largest dairy farms in Halinga, Pärnumaa.
Tallink reported profitable quarterly results. In real estate segment, the
expansion of Tallink's logistics center in Maardu was completed. Both major
constructions - the 25,000 sqm RIMI logistics center in Saue and the new bridge
in Pärnu - have progressed according to the plan.
Compared to the first quarter of the previous year, Infortar's EBITDA increased
by 40 percent, and profit by 32 percent. Infortar's equity reached 853 million
euros as of March 31 this year, and its asset volume reached 1.4 billion euros.
The company made investments totalling 7 million euros in the first quarter.
Since the end of last year, Infortar's shares have been listed on the Nasdaq
Baltic Stock Exchange. A total of 5,517 retail investors from Estonia and
professional investors from Europe participated in the company's initial public
offering, with the total volume of subscriptions reaching 41.4 million euros,
which was 1.3 times the base offer size. Infortar's stock has been the best
performer in the Nasdaq Baltic stock exchange's main list in the first quarter
of this year, with the company's stock rising by 27 percent.
KEY FIGURES OF FINANCIAL YEAR
Q1 2024 Q1 2023 2023
Revenue (in thousands of EUR) 372 584 347 480 1 084 626
Gross profit (in thousands of EUR) 50 004 65 812 149 473
EBITDA (in thousands of EUR) 74 004 52 560 143 283
EBITDA margin % 19,9% 15,1% 13,2%
Net profit (in thousands of EUR) 67 624 49 679 123 628
Total profit (in thousands of EUR) 62 062 46 777 293 830
Earnings per share (EUR)* 2,9 2,2* 13,9*
Total equity (in thousands of EUR) 852 690 566 482 820 210
Total liabilities (in thousands of EUR) 375 327 340 568 441 160
* Earnings per share have been calculated for all reported periods based on the
following formula: net profit for the reporting year divided by the number of
issued shares as of March 31, 2024 (Q1 2024 = (62,062,000 / 1,000) / 21,166,239
= 2.9 euros per share). In 2023 and 2024, share splits and the issuance of new
shares occurred. For comparability purposes, the formula uses the currently
valid number of shares each time.
Revenue
In the first quarter of the 2024, the consolidated revenue of the group
increased by 25.1 million euros to 372.6 million euros (compared to consolidated
revenue of 347.5 million euros in the first quarter of 2023). A significant
positive impact was achieved by the growth in regional gas sales market share to
26%, which allowed for an increase in revenue compared to the previous year.
EBITDA and segment reporting
The EBITDA of the Energy segment in the first quarter of the 2024 was 73.9
million euros (compared to 50.5 million euros in the first quarter of the
2023). Profitability is not related to the volatility of energy prices but
rather to the increase in market share and sales volumes. Infortar subsidiary,
AS Eesti Gaas, actively manages price risks by using derivative instruments and
regional natural gas storage facilities.
The Shipping segment's EBITDA in the first quarter of the 2024 was 34.5 million
euros (compared to 27.1 million euros in the first quarter of the 2023).
Infortar consolidates the results of AS Tallink Grupp using the equity method,
meaning that results of AS Tallink Grupp are reflected in the segment reporting
according to Infortar's ownership percentage in AS Tallink Grupp. In segment
reporting, 100% of AS Tallink Grupp results (including 100% EBITDA) are
accounted for in accordance with applicable accounting rules.
In the Real Estate segment, the profitability is assessed based on the EBITDA of
separate real estate companies. The Real Estate EBITDA in the first quarter of
the 2024 was 3.8 million euros (compared to 3.7 million euros in the first
quarter of the 2023 fiscal year). In the first quarter of 2024, the extension of
Tallink's logistics center was completed, adding an addition 3,800 square meters
of warehouse space to the real estate portfolio.
Net profit
Consolidated net profit in the first quarter of the 2024 was 62.1 million euros
(compared to 46.8 million euros in the first quarter of the 2023).
Financing
Loan and leasing obligations in the first quarter of the 2024 amounted to 375.3
million euros (compared to 340.6 million euros in the first quarter of the
2023). The company's net debt decreased from 354 million euros at the end of
2023 to 196 million euros. The net debt to EBITDA ratio is 1.3.
Consolidated income statement, in thousands of euros
Q1 2024 Q1 2023 2023
Revenue 372 584 347 480 1 084 626
Cost of goods (goods and services) sold -322 573 -281 478 -934 811
Write-down of receivables -7 -190 -342
Gross profit 50 004 65 812 149 473
Marketing expenses -415 -346 -1 620
General administrative expenses -7 238 -3 250 -22 085
Profit (loss) from the change in the fair value of
the investment property 156 0 -4 074
Unsettled gain/loss on derivative
financial instruments 24 659 0 1 969
Other operating revenue 600 527 2 523
Other operating expenses -142 -13 064 -2 558
Operating profit 67 624 49 679 123 628
Profit (loss) from investments
accounted for by equity method 2 000 723 39 639
Financial income and expenses
Other financial investments 0 -24 -4
Interest expense -6 745 -3 955 -22 573
Interest income 1 244 645 2 765
Profit (loss) from changes in exchange
rates -2 -129 -173
Gain from discount purchase 4 0 159 158
Total financial income and expenses -5 499 -3 463 139 173
Profit before tax 64 125 46 939 302 440
Corporate income tax -2 063 -162 -8 610
Profit for the financial year 62 062 46 777 293 830
including:
Profit attributable to the owners of the parent
company 62 167 46 982 293 778
Profit attributable to non-controlling
interest -105 -205 52
Total of other comprehensive income
-58 275
including:
Comprehensive profit attributable to the owners of the parent
company 235 547
Comprehensive profit attributable to non-controlling interest 52
Ordinary and diluted earnings per share (in euros per share) 14,62
Diluted earnings per share (in euros per share) 14,15
* The revaluation of non-cash derivative instruments in consolidated profits
does not affect the profitability or cash-generating ability of AS Eesti Gaas or
Infortar's core business activities.
Consolidated statement of financial position, in thousands of euros
ASSETS 31.03.24 31.03.23 31.12.2023
Current assets
Cash and cash equivalents 179 528 199 845 87 115
Short term financial investments 1 1 0
Derivative financial assets 3 938 26 922 28 728
Settled derivative receivables 5 050 24 198 5 958
Other prepayments and receivables 121 920 93 549 162 575
Prepayments for taxes 1 067 1 064 925
Trade and other receivables 16 982 3 931 20 185
Prepayments for inventories 3 560 16 370 3 493
Inventories 61 839 38 360 146 884
Total current assets 393 885 404 240 455 863
NON-CURRENT ASSETS
Investments to associates 348 811 300 711 346 014
Derivative and other financial assets 395 6 508 1 125
Long-term loans and other receivables 7 519 10 037 9 072
Investment property 179 655 163 144 176 024
Property, plant and equipment 443 872 149 928 446 748
Intangible assets 14 525 8 876 14 366
Right-of-use assets 10 797 10 055 11 300
Total non-current assets 1 005 574 649 259 1 004 649
TOTAL ASSETS 1 399 459 1 053 499 1 460 512
CURRENT LIABILITIES 31.03.24 31.03.23 31.12.2023
Loan liabilities 120 733 149 249 184 259
Rental liabilities 1 470 1 452 1 766
Payables to suppliers 50 766 68 813 74 751
Tax obligations 23 050 21 792 32 822
Buyers' advances 2 422 4 666 3 099
Short term derivatives 1 879 2 842 1 463
Settled derivatives 13 557 4 364 10 851
Other current liabilities 4 017 590 3 659
Total current liabilities 217 894 253 768 312 670
NON CURRENT LIABILITIES
Long-term provisions 11 209 680 8 399
Deferred taxes 33 684 25 051 33 233
Other long-term liabilities 29 990 17 651 30 679
Long-term derviatives 868 0 186
Loan-liabilities 244 334 181 918 246 410
Rental liabilities 8 790 7 949 8 725
Total non-current liabilities 328 875 233 249 327 632
TOTAL LIABILITIES 546 769 487 017 640 302
Equity
Share capital 2 117 1 985 2 105
Own shares -95 -95 -95
Share premium 32 484 0 29 344
Other reserves 205 205 205
Option reserve 4 822 2 123 3 864
Risks hedging reserve * -9 662 32 841 24 118
Unrealised currency translation differences 49 3 -39
Employment benefit reserve -44 0 -44
Retained earnings 759 918 481 890 466 140
Net profit of the financial year 62 167 46 982 293 778
Total equity attributable to equity 851 961 565 934 819 376
holders of the Parent 729 548 834
Minority interests 852 690 566 482 820 210
Total equity 1 399 459 1 053 499 1 460 512
* The revaluations of non-monetary derivative instruments in consolidated
profits do not affect the profitability or cash flow generation ability of Eesti
Gaas or Infortar's main business activities.
CONSOLIDATED CASH FLOW STATEMENT in thousands
of EUR Q1 2024 Q1 2023 2023
Cash flows from operating activities
Profit for the financial year
62 062 46 777 293 830
Adjustments
Depreciation, amortisation 6 536 2 881 15 581
Change in the fair value of the investment
property -156 0 4 074
Equity profits/losses -2 000 -723 -39 639
Change in the value of derivatives 25 520 50 544 54 122
Other financial income/expenses -1 161 -621 -161 965
Calculated interest expenses 6 745 3 955 22 573
Profit/loss from non-current assets sold -44 -30 -91
Income from grants recognised as revenue -42 -279 784
Corporate income tax expense 2 063 162 8 610
Income tax paid -1 612 -1 -267
Change in receivables and prepayments related
to operating activities 44 714 115 296 54 540
Change in inventories 84 979 31 603 -61 914
Change in payables and prepayments relating to
operating activities -60 965 -13 988 -406
Total cash flows from operating activities 166 639 235 576 189 832
Cash flows from investing activities
Purchases of associates -797 -3 927 -10 314
Purchases of subsidiaries 0 -4 -103 414
Given loans 0 0 0
Paybacks from given loans 1 807 5 700 6 652
Interest gain 906 603 2 691
Purchases Investment property -3 474 -2 604 -18 304
Purchases of property, plant and equipment -2 977 -4 635 -18 143
Proceeds from sale of property 66 32 -252
Net cash used in investing activities -4 469 -4 835 -141 084
Rahavood finantseerimistegevusest
Changes in overdraft -30 528 -15 929 14 348
Proceeds from borrowings 59 926 900 287 606
Repayments of borrowings -95 001 -71 518 -312 846
Repayment of finance lease liabilities -593 -429 -2 233
Interest paid -6 713 -3 922 -22 224
Dividends paid 0 0 -15 750
Gain from share emission 1. 152 0 29 464
Net cash used in financing activities -69 757 -90 898 -21 635
TOTAL NET CASH FLOW 92 413 139 843 27 113
Infortar operates in six countries, the company's main fields of activity are
energy, maritime transport, and real estate. Infortar owns a 42,3% stake in AS
Tallink Grupp, a 100% stake in AS Eesti Gaas and a versatile and modern real
estate portfolio of approx. 113,000 m2. In addition to the three main areas of
activity, Infortar also operates in construction and mineral resources,
agriculture, printing, taxi business and many other areas. A total of 103
companies belong to the Infortar group: 48 subsidiaries, 5 affiliated companies
and 50 subsidiaries of affiliated companies. Excluding affiliates, Infortar
employs 1,325 people.
Kadri Laanvee
Investor Relations Manager
e-mail: kadri.laanvee@infortar.ee
phone: +372 5156662
https://infortar.ee/en/investor