Market announcement
AS Silvano Fashion Group
Category
Half-yearly financial report
Attachments
Date
28.08.2024 23:59:00
Title
Silvano Fashion Group 2024.aasta II kvartali ja 6 kuu konsolideeritud vahearuanne (auditeerimata)
Message
Põhilised finantsnäitajad
Kontserni 2024. aasta 6 kuu (võrrelduna 2023. aasta 6 kuuga) ja 30.06.2024
(võrrelduna 31.12.2023) põhilised finantsnäitajad on järgmised:
-------------------------------------------------------------------------------
tuhandetes eurodes 6 kuud 2024 6 kuud 2023 Muutus
-------------------------------------------------------------------------------
Müügitulu 30 145 31 407 -4,0%
Brutokasum 17 189 18 837 -8,7%
Ärikasum 8 562 10 681 -19,8%
EBITDA 10 055 12 272 -18,1%
Aruandeperioodi puhaskasum 7 786 5 422 43,6%
Puhaskasum, emaettevõtte
omanike osa 7 053 4 772 47,8%
Kasum aktsia kohta (eurodes) 0,20 0,13 53,8%
Äritegevuse rahavoog
perioodil 4 137 10 802 -61,7%
------------------------------------------------------------------------
tuhandetes eurodes 30.06.2024 31.12.2023 Muutus
------------------------------------------------------------------------
Varad kokku 80 534 72 252 11,5%
Käibevarad kokku 67 483 59 395 13,6%
Omakapital kokku, emaettevõtte omanike osa 61 433 54 120 13,5%
Raha ja raha ekvivalendid 38 867 32 878 18,2%
----------------------------------------------------------------------------
Rentaablusanalüüs, % 6 kuud 2024 6 kuud 2023 Muutus
----------------------------------------------------------------------------
Brutokasum 57,0 60,0 -5,0%
Ärikasum 28,4 34,0 -16,5%
EBITDA 33,4 39,1 -14,6%
Puhaskasum 25,8 17,3 49,1%
Puhaskasum, emaettevõtte omanike osa 23,4 15,2 53,9%
--------------------------------------------------------------------------
Finantssuhtarvud, % 30.06.2024 31.12.2023 Muutus
--------------------------------------------------------------------------
ROA 16,3 14,5 12,4%
ROE 22,0 20,2 8,9%
Hinna/ kasumi suhe 3,1 4,1 -24,4%
Lühiajaliste kohustuste kattekordaja 6,4 5,8 10,3%
Likviidsuskordaja 3,9 3,4 14,7%
Majandustulemused
Kontserni 2024. aasta 6 kuu käive moodustas 30 145 tuhat eurot, vähenedes
eelmise aasta sama perioodiga võrreldes 4,0% võrra. Hulgimüügi käive vähenes
7,2% võrra, mõõdetuna eurodes.
Kontserni 2024. aasta 6 kuu brutokasum oli 17 189 tuhat eurot, vähenedes eelmise
aastaga võrreldes 8,7%. Perioodi brutokasumi marginaal vähenes 2024. aasta 6 kuu
jooksul 5,0% võrra, võrreldes eelmise aasta sama perioodiga. Müüdud toodangu
kulu suurenes 3,1% võrra.
2024. aasta 6 kuu konsolideeritud ärikasum vähenes 19,8% ja ulatus 8 562 tuhande
euroni võrreldes 2023. aasta 6 kuu konsolideeritud ärikasumiga summas 10 681
tuhat eurot. 2024. aasta 6 kuu ärikasumi rentaablus oli 28,4% võrreldes 34,0%-ga
eelmise aasta samal perioodil. Konsolideeritud EBITDA vähenes 18,1% ja moodustas
2024. aasta 6 kuuga 10 055 tuhat eurot, mis tähendab 33,4% rentaablust (12 272
tuhat eurot ja 39,1% eelmise aasta samal perioodil).
Ettevõtte puhaskasum emaettevõtte aktsionäridele moodustas 2024. aasta 6 kuuga
7 053 tuhat eurot võrreldes puhaskasumiga 4 772 tuhat eurot 2023. aasta 6 kuuga,
puhaskasumi marginaal emaettevõtte aktsionäridele moodustas 2024. aasta 6 kuuga
23,4% võrreldes puhaskasumiga 15,2%-ga eelmise aasta samal perioodil.
Finantsseisund
Seisuga 30. juuni 2024 ulatus kontserni konsolideeritud varade maht 80 534
tuhande euroni, suurenedes 11,5% võrreldes 31. detsembriga 2023.
Võrreldes 31. detsembriga 2023 suurenesid nõuded ostjate vastu ja muud nõuded
358 tuhande euro võrra ja moodustasid 2024. aasta 30. juuni seisuga 1 712 tuhat
eurot. Varude saldo suurenes 1 922 tuhande euro võrra ning 2024. aasta 30. juuni
seisuga moodustas 25 862 tuhat eurot.
Emaettevõtte aktsionäride osa omakapitalis suurenes 7 313 tuhande euro võrra,
ulatudes 2024. aasta 30. juuni seisuga 61 433 tuhande euroni. Lühiajalised
kohustused suurenesid 2024.aasta 6 kuuga 267 tuhande euro võrra.
Investeeringud
Kontserni 2024. aasta 6 kuu investeeringute kogumaht materiaalsesse põhivarasse,
tehasesse ja seadmetesse moodustas 476 tuhat eurot, 708 tuhat eurot eelmise
aasta samal perioodil. Investeeringud teostati peamiselt oma poodide avamisse ja
renoveerimisse, samuti seadmetesse ja hoonetesse tootmise efektiivsuse
säilitamiseks tulevastes perioodides.
Personal
2024. aasta 30. juuni seisuga oli kontsernil 1 625 töötajat, neist 507 töötas
jaemüügi segmendis. Ülejäänud töötajad tegutsesid tootmise, hulgimüügi-, haldus-
ja tugiteenuste valdkondades. 31.12.2023 seisuga oli 1 626 töötajat, neist 500
töötas jaemüügi segmendis.
Kontserni 2024. aasta 6 kuu palgakulu koos maksudega oli 7 117 tuhat eurot (6
902 tuhat eurot 2023.aasta 6 kuul). Kontserni juhtkonna võtmeisikute töötasud,
sealhulgas tütarettevõtete võtmeisikute tasud, moodustasid kokku 305 tuhat
eurot.
Juhtimisorganite otsused 2024. aasta 6 kuu jooksul
AS Silvano Fashion Group tegi 19. märtsil 2024 aktsionäridele ettepaneku võtta
vastu aktsionäride erakorralise üldkoosoleku otsused koosolekut kokku kutsumata.
Koosoleku kokkukutsumise teade ilmus 19.03.2024.a. Tallinna Väärtpaberibörsi
kodulehel aadressil
https://view.news.eu.nasdaq.com/view?id=b77cafc430f1ac23a81813069a95a15cd&lang=e
t&src=listed Varssavi Väärtpaberibörsi infosüsteemis, Aktsiaselts Silvano
Fashion Group kodulehel aadressil
https://www.silvanofashion.com/et/investorid/ettevotte-teated/ ja ajalehes
"Eesti Päevaleht".
9. aprillil 2024 toimus AS Silvano Fashion Group aktsionäride erakorraline
üldkoosolek. Koosolekul võeti vastu järgmised otsused:
1.1. Nimetada AS-i Silvano Fashion Group audiitoriks audiitorühing Ernst&Young
Baltic AS (registrikood 10877299, asukohaga Rävala puiestee 4, 10143 Tallinn);
1.2. Volitada AS-i Silvano Fashion Group juhatust sõlmima audiitorühinguga AS-ga
Ernst&Young Baltic audiitorteenuse leping AS-i Silvano Fashion Group 2023.a.
majandustegevuse auditeerimiseks.
29. mail 2024 tegi AS Silvano Fashion Group juhatus tegi aktsionäridele
ettepaneku võtta vastu aktsionäride otsused koosolekut kokku kutsumata.
Teade otsuste eelnõudega ilmus 29.05.2024.a. Tallinna Väärtpaberibörsi kodulehel
aadressil
https://nasdaqbaltic.com/statistics/et/instrument/EE3100001751/news?date=2024-
06-18 ja Varssavi Väärtpaberibörsi infosüsteemis ning 29.05.2024.a. ajalehes
"Eesti Ekspress" ja Aktsiaselts Silvano Fashion Group kodulehel aadressil
https://www.silvanofashion.com/et/investorid/ettevotte-teated/.
20. juunil 2024 toimus AS Silvano Fashion Group aktsionäride korraline
üldkoosolek. Koosolekul võeti vastu järgmised otsused:
1. Kinnitada Aktsiaseltsi Silvano Fashion Group 2023. a majandusaasta aruanne.
2. Jätta puhaskasum jaotamata ning arvata 2023. aasta majandusaasta puhaskasum
jaotamata kasumi hulka.
AS Silvano Fashion Group aktsionäride korralise üldkoosoleku protokoll on
avaldatud kodulehel https://silvanofashion.com/wp-content/uploads/SFG-
aktsionaride-otsuste-haaletusprotokoll.pdf.
Konsolideeritud finantsseisundi aruanne
--------------------------------------------------------------------------------------
tuhandetes eurodes Lisad 30.06.2024 31.12.2023
--------------------------------------------------------------------------------------
Auditeerimata Auditeeritud
--------------------------------------------------------------------------------------
VARAD
Käibevara
Raha ja rahalähendid 2 38 867 32 878
Nõuded ostjate vastu ja muud nõuded 3 1 712 1 354
Ettemaksed ja muud maksunõuded 3 917 1 115
Antud lühiajalised laenud 20 29
Muud varad 105 79
Varud 4 25 862 23 940
Käibevara kokku 67 483 59 395
Põhivara
Pikaajalised nõuded 297 292
Investeeringud sidusettevõtetesse 109 85
Investeeringud muudesse osadesse ja
aktsiatesse 223 213
Edasilükkunud tulumaksuvara 2 375 2 155
Immateriaalne põhivara 651 579
Kinnisvarainvesteeringud 911 899
Materiaalne põhivara 5 8 485 8 634
Põhivara kokku 13 051 12 857
VARAD KOKKU 80 534 72 252
KOHUSTUSED JA OMAKAPITAL
Lühiajalised kohustused
Saadud laenud 2 312 0
Lühiajalised rendikohustused 1 222 2 162
Võlad tarnijatele ja muud
võlad 6 4 933 7 377
Maksukohustised 2 086 747
Lühiajalised kohustused kokku 10 553 10 286
Pikaajalised kohustused
Edasilükkunud tulumaksukohustis 773 736
Pikaajalised rendikohustused 4 751 4 321
Pikaajalised eraldised 48 46
Pikaajalised kohustused kokku 5 572 5 103
Kohustused kokku 16 125 15 389
Omakapital
Aktsiakapital 7 3 600 3 600
Ülekurss 4 967 4 967
Kohustuslik reservkapital 1 306 1 306
Realiseerimata kursivahed -19 742 -20 002
Jaotamata kasum 71 302 64 249
Omakapital kokku, emaettevõtte omanike osa 61 433 54 120
Vähemusosalus 2 976 2 743
Omakapital kokku 64 409 56 863
OMAKAPITAL JA KOHUSTUSED KOKKU 80 534 72 252
Konsolideeritud kasumiaruanne
-----------------------------------------------------------------------------------
II kvartal II kvartal
tuhandetes eurodes Lisad 2024 2023 6 kuud 2024 6 kuud 2023
-----------------------------------------------------------------------------------
Auditeerimata Auditeerimata Auditeerimata Auditeerimata
-----------------------------------------------------------------------------------
Kliendilepingutest
saadav tulu 9 16 241 17 266 30 145 31 407
Müüdud toodangu
kulu -6 841 -6 553 -12 956 -12 570
Brutokasum 9 400 10 713 17 189 18 837
Turustuskulud -3 001 -2 775 -5 773 -5 554
Üldhalduskulud -1 191 -1 091 -2 454 -2 277
Muud äritulud 59 59 107 116
Muud ärikulud -253 -188 -507 -441
Ärikasum 5 014 6 718 8 562 10 681
Tulu/(kulu)
valuutakursi
muutustest 916 -1 492 865 -2 591
Muud
finantstu/(kulu) -56 -29 72 -185
Finantstulud /(-
kulud) kokku 860 -1 521 937 -2 776
Kasum (kahjum)
sidusettevõtetest
kapitaliosaluse
meetodil -2 8 14 12
Kasum enne tulumaksu 5 872 5 205 9 513 7 917
Tulumaksukulu -1 002 -1 650 -1 727 -2 495
Aruandeperioodi
kasum 4 870 3 555 7 786 5 422
Sealhulgas:
Emaettevõte
omanike osa 4 499 3 156 7 053 4 772
Vähemusosaluse
osa 371 399 733 650
Tava- ja
lahustatud kasum
emaettevõtte
omanike aktsia
kohta (eurodes) 8 0,12 0,09 0,20 0,13
Konsolideeritud
koondkasumiaruanne
-----------------------------------------------------------------------------------
II kvartal II kvartal
tuhandetes eurodes Lisad 2024 2023 6 kuud 2024 6 kuud 2023
-----------------------------------------------------------------------------------
Auditeerimata Auditeerimata Auditeerimata Auditeerimata
-----------------------------------------------------------------------------------
Aruandeperioodi
kasum 4 870 3 555 7 786 5 422
Muu koondkasum
(kahjum), mida võib
hiljem
kasumiaruandesse
ümber
klassifitseerida:
Kursivahede mõju
välismaiste
äriüksuste tulemuste
ümberarvestamisele 670 -624 406 -1 384
Aruandeperioodi muu
koondkasum 670 -624 406 -1 384
Perioodi
koondkasum
(kahjum) kokku 5 540 2 931 8 192 4 038
Sealhulgas:
Emaettevõtte
omanike osa 5 049 2 029 7 313 2 612
Vähemusosaluse
osa 491 902 879 1 426
Konsolideeritud rahavoogude aruanne
-------------------------------------------------------------------------------
tuhandetes eurodes 6 kuud 6 kuud
Lisad 2024 2023
-------------------------------------------------------------------------------
Auditeerimata Auditeerimata
-------------------------------------------------------------------------------
Rahavood äritegevusest
Aruandeaasta kasum 7 786 5 422
Korrigeerimised:
Põhivara kulum 1 493 1 591
Kasum kapitaliosaluse meetodil kajastatud
investeeringutelt -14 -12
Kasum/kahjum materiaalse põhivara müügist 10 -11
Finantstulud/-kulud kokku -937 2 776
Ebatõenäoliselt laekuvate arvete eraldis 3 -1
Varude eraldis 1 2
Tulumaksukulu 1 727 2 495
Varude muutus -1 922 1 342
Muutused nõuetes ostjate vastu ja muudes
nõuetes, ettemaksetes ja muudes maksunõuetes -358 -1 195
Muutused võlgades tarnijatele ja muudes
võlgades -1 912 -125
Tasutud intressid -48 0
Makstud tulumaks -1 692 -1 482
Rahavood äritegevusest kokku 4 137 10 802
Rahavood investeerimistegevusest
Saadud intressid 482 172
Saadud dividendid 8 11
Materiaalse põhivara müük 20 5
Väljaantud laenud 0 -15
Väljaantud laenude tagasimaksed 9 0
Materiaalse põhivara soetamine -476 -708
Immateriaalse põhivara soetamine -72 -88
Rahavood investeerimistegevusest kokku -29 -623
Rahavood finantseerimistegevusest
Saadud laenud 4 000 0
Saadud laenude tagasimaksed -1 700 0
Rendikohustiste põhiosamaksed -1 085 -1 118
Rendikohustistelt tasutud intress -375 -367
Makstud dividendid -646 -525
Rahavood finantseerimistegevusest kokku 194 -2 010
Raha ja rahalähendite muutus 4 302 8 169
Raha ja rahalähendid perioodi alguses 2 32 878 25 909
Esitusvaluutasse ümberarvestamise mõju 1 837 -3 452
Valuutakursside muutuste mõju rahavoogudele -150 415
Raha ja rahalähendid perioodi lõpus 2 38 867 31 041
AS Silvano Fashion Group
Tel: +372 6845 000
Email: info@silvanofashion.com
Title
Silvano Fashion Group Consolidated Interim Financial Report for Q2 and 6m of 2024 (unaudited)
Message
Selected Financial Indicators
Summarized selected financial indicators of the Group for 6 months of 2024
compared to 6 months of 2023 and 30.06.2024 compared to 31.12.2023 were as
follows:
-------------------------------------------------------------------------------
in thousands of EUR 06m 2024 06m 2023 Change
-------------------------------------------------------------------------------
Revenue 30 145 31 407 -4.0%
Gross Profit 17 189 18 837 -8.7%
Operating profit 8 562 10 681 -19.8%
EBITDA 10 055 12 272 -18.1%
Net profit for the period 7 786 5 422 43.6%
Net profit attributable equity holders of the
Parent company 7 053 4 772 47.8%
Earnings per share (EUR) 0,20 0,13 53.8%
Operating cash flow for the period 4 137 10 802 -61.7%
-------------------------------------------------------------------------------
in thousands of EUR 30.06.2024 31.12.2023 Change
-------------------------------------------------------------------------------
Total assets 80 534 72 252 11.5%
Total current assets 67 483 59 395 13.6%
Total equity attributable to equity holders of
the Parent company 61 433 54 120 13.5%
Cash and cash equivalents 38 867 32 878 18.2%
-------------------------------------------------------------------------------
Margin analysis, % 06m 2024 06m 2023 Change
-------------------------------------------------------------------------------
Gross profit 57,0 60,0 -5.0%
Operating profit 28,4 34,0 -16.5%
EBITDA 33,4 39,1 -14.6%
Net profit 25,8 17,3 49.1%
Net profit attributable to equity holders of the
Parent company 23,4 15,2 53.9%
-------------------------------------------------------------------------------
Financial ratios, % 30.06.2024 31.12.2023 Change
-------------------------------------------------------------------------------
ROA 16,3 14,5 12.4%
ROE 22,0 20,2 8.9%
Price to earnings ratio (P/E) 3,1 4,1 -24.4%
Current ratio 6,4 5,8 10.3%
Quick ratio 3,9 3,4 14.7%
Financial performance
The Group`s sales amounted 30 145 thousand EUR during 6 months of 2024,
representing a 4.0% decrease as compared to the same period of previous year.
Overall, wholesale decreased by 7.2%, measured in EUR.
The Group's gross profit during 6 months of 2024 amounted to 17 189 thousand EUR
and decrease by 8.7% compared to previous year. The gross margin during 6 months
of 2024 decreased by 5.0% compared to 6 months of 2023. The cost of sold goods
increased by 3.1%.
Consolidated operating profit for 6 months of 2024 amounted to 8 562 thousand
EUR, compared to 10 681 thousand EUR for 6 months of 2023, decrease by 19.8%.
The consolidated operating profit margin was 28.4% for 6 months of 2024 (34.0%
for 6 months of 2023). Consolidated EBITDA for 6 months of 2024 decreased by
18.1% and amounted to 10 055 thousand EUR, which is 33.4% in margin terms (12
272 thousand EUR and 39.1% for 6 months of 2023).
Reported consolidated net profit attributable to equity holders of the Parent
company for 6 months of 2024 amounted to 7 053 thousand EUR, compared to net
profit of 4 772 thousand EUR for 6 months of 2023, net profit margin
attributable to equity holders of the Parent company for 6 months of 2024 was
23.4% against net profit 15.2% for 6 months of 2023.
Financial position
As of 30 June 2024 consolidated assets amounted to 80 534 thousand EUR
representing increase by 11.5% as compared to the position as of 31 December
2023.
Trade and other receivables increased by 358 thousand EUR as compared to 31
December 2023 and amounted to 1 712 thousand EUR as of 30 June 2024.
Inventory balance increased by 1 922 thousand EUR and amounted to 25 862
thousand EUR as of 30 June 2024.
Equity attributable to equity holders of the Parent company increased by 7 313
thousand EUR and amounted to 61 433 thousand EUR as of 30 June
2024. Current liabilities increased by 267 thousand EUR during 6 months of 2024.
Investments
During 6 months of 2024 the Group's investments into property, plant and
equipment totalled 476 thousand EUR, in previous year same period 708 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 30 June 2024, the Group employed 1 625 employees, including 507 people in
retail operations. The rest were employed in production, wholesale,
administration and support operations. In 31.12.2023 there were 1 626 employees,
including 500 people in retail operations.
Total salaries and related taxes during 6 months of 2024 amounted to 7 117
thousand EUR ( 6 902 thousand EUR in 6 months 2023). The remuneration of key
management of the Group, including the key executives of all subsidiaries,
totalled 305 thousand EUR.
Decisions made by governing bodies during 06 months 2024
On the 19th of March 2024, the AS Silvano Fashion Group proposed to the
shareholders to adopt the resolution of the extraordinary general meeting of
shareholders stated below without convening the meeting.
The notice of the general meeting was published on March 19, 2024, in the
information system NASDAQ OMX
Tallinn https://view.news.eu.nasdaq.com/view?id=b77cafc430f1ac23a81813069a95a15c
d&lang=en
(https://www.globenewswire.com/Tracker?data=MWyEV7h89lAqde0b6xHNjHVNvjAEUTQde5hn
y6Rf3JAFSQP0itB3axgnzj9YS-iaHJGVu5ZtzLG6R4DnvTRHsT6FnwwWqtPoPkbqCSVb6Ba11_UUH-
5PMRsP-
WNmrndng1gfiw6bnp0V5N1oImDT_BcHdYgOGHmgIOh7EN3HtpdCfTrm4J0Pqx_MdtikKPI_t6Cted4zB
4YqcPOJyPOWLJMrkYiq6TDFPJibJw7czYX7RPKEE_RjYTlIEy53Q3C9) and Warsaw Stock
Exchange, on the website of
SFG https://www.silvanofashion.com/investors/company-announcements/
(https://www.globenewswire.com/Tracker?data=MWyEV7h89lAqde0b6xHNjH0LRcJRFDG_DQcL
mJEZP-IxDxeWBEuKhih4s_GCk39PkIJkedwQWrg1oJ-
HkS1AFAiU_vxocHhNbJtHG2x00KXFgrufzQeafChRa_ghm0b8wbqvdZe4K5lGfTZDrRlB-vV4yOYD-
Eu07QP177hE3Y-4zVgjtpMjeWYnW16KsmZeLxu8BRL9lz4i87XPoAkzQg==) and in the
newspaper Eesti Päevaleht.
On April 9, 2024 Silvano Fashion Group Extraordinary Meeting of Shareholders
adopted the following decisions:
1.1. To appoint the auditing company Ernst & Young Baltic AS (registry code
10877299, located at Rävala puiestee 4, 10143 Tallinn) as the auditor of AS
Silvano Fashion Group;
1.2. To authorize the Management Board of AS Silvano Fashion Group to enter into
an audit service agreement with the auditing company AS Ernst & Young Baltic for
auditing the economic activities of AS Silvano Fashion Group 2023.
On the 29th of May 2024, AS Silvano Fashion Group proposed to the shareholders
to adopt the resolutions of the annual general meeting of shareholders without
convening the meeting.
The notice of the general meeting was published on May 29, 2024, in the
information system NASDAQ OMX Tallinn
https://view.news.eu.nasdaq.com/view?id=bc1ccceca27a9390039f730c2b2b98136&lang=e
n&src=listed
and Warsaw Stock Exchange, on the website of SFG
https://www.silvanofashion.com/investors/company-announcements/ and in the
daily newspaper Eesti Ekspress.
On June 20, 2024 Silvano Fashion Group held its regular Annual General Meeting
of Shareholders. The Meeting adopted the following decisions:
1. Approved the 2023 Annual Report;
2. Left the net profit undistributed and included the net profit of the
financial year 2023 in retained earnings.
The decisions of the general meeting was published on the website of AS Silvano
Fashion Group https://www.silvanofashion.com/investors/company-
announcements/
(https://www.globenewswire.com/Tracker?data=eqSvB9FOkm2SGnLhlyRqsUdtOHk18ftuqW7m
_BJ0KJyow4LIfcGFs-
4YoDMKBvcg4mtXZqcgvDDiXxghkxBh50oXe0tnt2toW_vOwXjGvfXV9SjkeRJavBavUEvzQsHZMzg9nD
uFZHClq1_7e-
anBBL6k4lsZCaz2w3tuxnhy0HPb57uqrYj_ngy3LxIWOihCCBz0_SzHHqnFzzG1Z0TkdFtuQ0lsIDCje
ITPyhTwYpbv8SglqkMjn5-k7uk9EhqmDBFXeKBCO8wGpDb8zhXU1vtwUw-phxoJM6RUqkg4cJE2EYze-
49950OcS7oRfiAG-
JA36eDcpihL2YYD2tKlYY7vd9MEpK4JAV35rb_XdPbTsxUEee22Ch2cOVoNdrD7qv9r2_CinNcYm3G7J
bTte_cGyDhKJ7iT9_KCfaJuQstDPQ0ngm3cv9EacHKREOPnnHGJZ3CgfYNP4EVlVqRwA==).
Consolidated Statement of Financial Position
-------------------------------------------------------------------------------
in thousands of EUR Note 30.06.2024 31.12.2023
-------------------------------------------------------------------------------
Unaudited Audited
ASSETS
Current assets
Cash and cash equivalents 2 38 867 32 878
Trade and other receivables 3 1 712 1 354
Prepayments and other tax receivables 3 917 1 115
Current loans granted 20 29
Other assets 105 79
Inventories 4 25 862 23 940
Total current assets 67 483 59 395
Non-current assets
Non-current receivables 297 292
Investments in associates 109 85
Investments in other shares 223 213
Deferred tax asset 2 375 2 155
Intangible assets 651 579
Investment property 911 899
Property, plant and equipment 5 8 485 8 634
Total non-current assets 13 051 12 857
TOTAL ASSETS 80 534 72 252
LIABILITIES AND EQUITY
Current liabilities
Current borrowings 2 312 0
Current lease liabilities 1 222 2 162
Trade and other payables 6 4 933 7 377
Tax liabilities 2 086 747
Total current liabilities 10 553 10 286
Non-current liabilities
Deferred tax liability 773 736
Non-current lease liabilities 4 751 4 321
Non-current provisions 48 46
Total non-current liabilities 5 572 5 103
Total liabilities 16 125 15 389
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 -19 742 -20 002
Retained earnings 71 302 64 249
Total equity attributable to equity holders of the
Parent company 61 433 54 120
Non-controlling interest 2 976 2 743
Total equity 64 409 56 863
TOTAL EQUITY AND LIABILITIES 80 534 72 252
Consolidated Income Statement
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in thousands of EUR Note 2Q 2024 2Q 2023 06m 2024 06m 2023
-------------------------------------------------------------------------------
Unaudited Unaudited Unaudited Unaudited
Revenue from contracts with
customers 9 16 241 17 266 30 145 31 407
Cost of goods sold -6 841 -6 553 -12 956 -12 570
Gross Profit 9 400 10 713 17 189 18 837
Distribution expenses -3 001 -2 775 -5 773 -5 554
Administrative expenses -1 191 -1 091 -2 454 -2 277
Other operating income 59 59 107 116
Other operating expenses -253 -188 -507 -441
Operating profit 5 014 6 718 8 562 10 681
Currency exchange
income/(expense) 916 -1 492 865 -2 591
Other finance income/(expenses) -56 -29 72 -185
Net finance income 860 -1 521 937 -2 776
Profit (loss) from associates
using equity method -2 8 14 12
Profit before tax 5 872 5 205 9 513 7 917
Income tax expense -1 002 -1 650 -1 727 -2 495
Profit for the period 4 870 3 555 7 786 5 422
Attributable to :
Equity holders of the Parent
company 4 499 3 156 7 053 4 772
Non-controlling interest 371 399 733 650
Earnings per share from profit
attributable to equity holders of
the Parent company, both basic
and diluted (EUR) 8 0,12 0,09 0,20 0,13
Consolidated Statement of Comprehensive Income
-------------------------------------------------------------------------------
in thousands of EUR Note 2Q 2024 2Q 2023 06m 2024 06m 2023
-------------------------------------------------------------------------------
Unaudited Unaudited Unaudited Unaudited
Profit for the period 4 870 3 555 7 786 5 422
Other comprehensive income (loss)
that will be reclassified to
profit or loss in subsequent
periods :
Exchange differences on translation of
foreign operations 670 -624 406 -1 384
Total other comprehensive income
for the period 670 -624 406 -1 384
Total comprehensive income (loss)
for the period 5 540 2 931 8 192 4 038
Attributable to :
Equity holders of the Parent
company 5 049 2 029 7 313 2 612
Non-controlling interest 491 902 879 1 426
Consolidated Statement of Cash Flows
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in thousands of EUR Note 06m 2024 06m 2023
-------------------------------------------------------------------------------
Unaudited Unaudited
Cash flow from operating activities
Profit for the period 7 786 5 422
Adjustments for:
Depreciation and amortization of non-current assets 1 493 1 591
Share of profit of equity accounted investees -14 -12
Gains/Losses on the sale of property, plant and
equipment 10 -11
Net finance income / costs -937 2 776
Provision for impairment losses on trade
receivables 3 -1
Provision for inventories 1 2
Income tax expense 1 727 2 495
Change in inventories -1 922 1 342
Change in trade and other receivables -358 -1 195
Change in trade and other payables -1 912 -125
Interest paid -48 0
Income tax paid -1 692 -1 482
Net cash flow from operating activities 4 137 10 802
Cash flow from investing activities
Interest received 482 172
Dividends received 8 11
Proceeds from disposal of property, plant and
equipment 20 5
Loans granted 0 -15
Proceeds from repayments of loans granted 9 0
Acquisition of property, plant and equipment -476 -708
Acquisition of intangible assets -72 -88
Net cash flow from investing activities -29 -623
Cash flow from financing activities
Proceeds from borrowings 4 000 0
Repayment of borrowings -1 700 0
Payment of principal portion of lease liabilities -1 085 -1 118
Interest paid on lease liabilities -375 -367
Dividends paid -646 -525
Net cash flow from financing activities 194 -2 010
Net increase in cash and cash equivalents 4 302 8 169
Cash and cash equivalents at the beginning of period 2 32 878 25 909
Effect of translation to presentation currency 1 837 -3 452
Effect of exchange rate fluctuations on cash held -150 415
Cash and cash equivalents at the end of period 2 38 867 31 041
AS Silvano Fashion Group
Phone: +372 6845 000
Email: info@silvanofashion.com