Market announcement
Nordic Fibreboard AS
Category
Management interim statement or quarterly financial report
Attachments
Date
30.08.2024 17:23:10
Title
Nordic Fibreboard AS 2024. aasta Ii kvartali ja 6 kuu auditeerimata majandustulemused
Message
JUHTKONNA ARUANNE
Nordic Fibreboard AS konsolideeritud müügitulu oli 2024. aasta 2. kvartalis
2,18 miljonit eurot, mis oli 8% tõusu võrreldes eelmise aasta sama perioodiga
(2023. aasta 2. kvartalis 2,01 miljonit eurot). Kontserni peamine tegevusala on
puitkiudplaadi tootmine ja hulgimüük, mille müügitulu 2024. aasta 2. kvartalis
oli 2,17 miljonit eurot (2023. aasta 2. kvartalis 2,00 miljonit eurot).
Ülejäänud segmendiks on Pärnus Suur-Jõe tänaval oleva kinnisvara haldamine,
mille müügitulu 2024. aasta 2. kvartalis oli 0,01 miljonit eurot (2023. aasta
2. kvartalis samuti 0,01 miljonit eurot).
Puitkiudplaatide müügitulu tõusu põhjuseks (2023. aasta 2. kvartalis võrreldes
2024. aasta 2. kvartaliga) on uute tööstusklientide lisandumine 2024. aastal.
Ettevõtte peamine fookus on jätkuvalt uute klientide leidmisel, eesmärgiga
laiendada kliendiportfelli ja leida uusi ärisuundi.
Nordic Fibreboard AS konsolideeritud EBITDA oli 2024. aasta 2. kvartalis
positiivne 217 tuhat eurot (2023. aasta 2. kvartalis positiivne 190 tuhat
eurot). EBITDA rentaablus oli 2024. aasta 2. kvartalis 10% ning 2023. aasta 2.
kvartalis 9%. Kontserni brutomarginaal oli nii 2024. aasta 2. kvartalis kui ka
2023. aasta 2. kvartalis 25%.
Nordic Fibreboard AS konsolideeritud ärikasum oli 2024. aasta 2. kvartalis 86
tuhat eurot ning ärirentaablus 4%, (2023. aasta 2. kvartalis ärikasum 69 tuhat
eurot ning ärirentaablus 3%).
Kontserni 2024. aasta 2. kvartali konsolideeritud puhaskahjum oli 23 tuhat eurot
(2023. aasta 2. kvartalis: puhaskahjum 7 tuhat eurot). 2024. aasta 2. kvartali
puhaskahjum sisaldas Nordic Fibreboard Ltd-le kuuluvatelt Trigon Property
Development AS (TPD) aktsiate ümberhindlusest saadud kahjumit summas 56 tuhat
eurot (2023. aasta 2. kvartalis saadi TPD aktsiate ümberhindlusest kahjumit 19
tuhat eurot).
ÄRIVALDKONDADE ÜLEVAADE
Müügitulu ärisegmentide lõikes
tuh EUR II kv 2024 | II kv 2023 | 6k 2024 | 6k 2023
-------------------------------------------+------------+---------+---------
Kiudplaadi tootmine ja müük 2 170 | 1 998 | 4 119 | 4 583
-------------------------------------------+------------+---------+---------
Kinnisvara haldamine 9 | 12 | 21 | 23
-------------------------------------------+------------+---------+---------
KOKKU 2 179 | 2 010 | 4 140 | 4 606
Kasum ärisegmentide lõikes
tuh EUR II kv 2024|II kv 2023 6k 2024|6k 2023
--------------------------------------------+------------------+-------
EBITDA ärisegmentide lõikes | |
--------------------------------------------+------------------+-------
Kiudplaadi tootmine ja müük 228| 212 290| 137
--------------------------------------------+------------------+-------
Kinnisvara haldamine (3)| (4) (15)| (17)
--------------------------------------------+------------------+-------
Elimineerimine (8)| (18) (5)| (24)
--------------------------------------------+------------------+-------
Kokku EBITDA 217| 190 270| 96
--------------------------------------------+------------------+-------
Erakorraline muu ärikulu 0| 0 0| (406*)
--------------------------------------------+------------------+-------
Põhivara kulum ja amortisatsioon (131)| (121) (260)| (244)
--------------------------------------------+------------------+-------
Kokku ÄRIKASUM/-KAHJUM 86| 69 10| (554)
--------------------------------------------+------------------+-------
Neto finantskulud (109)| (76) (106)| (50)
--------------------------------------------+------------------+-------
PUHASKASUM/-KAHJUM (23)| (7) (96)| (604)
* koosneb ühekordsest kahjumist elektrienergia tagasimüügist elektriettevõttele.
Nordic Fibreboard Ltd: kiudplaadi tootmine ja müük
Puitkiudplaadi müügitulu 2024. aasta 2. kvartalis oli 2,17 miljonit eurot (2023.
aasta 2. kvartalis 2,00 miljonit eurot. 2024. aasta 2. kvartali müügitulu kasvu
peamiseks põhjuseks võrreldes 2023. aasta 2. kvartaliga oli uute
tööstusklientide lisandumine. Müük Eestisse tõusis 2024. aasta 2. kvartalis
võrreldes eelmise aasta sama perioodiga 48% ning müük Soome turule tõusis 43%.
2024. aasta 2. kvartalis ei olnud müügitulu Taani suurkliendilt, kelle osakaal
moodustas 2023. aasta samal perioodil 22% kogumüügist. 2024. aasta 2. kvartalis
on see osa müügitulust kompenseeritud uute tööstusklientide lisandumisega.
Nendest suurim asub Hollandis, järgnevad Rootsi ja Poola ettevõtted. Need uued
kliendid andsid 2024. aasta esimese poolaasta müügist 18%.
Nordic Fibreboard Ltd OÜ 2024. aasta 2. kvartali EBITDA oli positiivne 228 tuhat
eurot (2023. aasta 2. kvartalis positiivne 212 tuhat eurot).
KIUDPLAADI MÜÜGITULU GEOGRAAFILISELT
tuh EUR II kv 2024 | II kv 2023 | 6k 2024 | 6k 2023
----------------------------+------------+---------+---------
Euroopa Liit 2 106 | 1 862 | 3 798 | 4 317
----------------------------+------------+---------+---------
Lähis-Ida 41 | 28 | 57 | 28
----------------------------+------------+---------+---------
Aasia 23 | 23 | 84 | 55
----------------------------+------------+---------+---------
Aafrika 0 | 40 | 167 | 93
----------------------------+------------+---------+---------
Teised 0 | 45 | 13 | 90
----------------------------+------------+---------+---------
Kokku 2 170 | 1 998 | 4 119 | 4 583
Pärnu Riverside Development: kinnisvarahaldus
Pärnu Riverside Development OÜ omab ja haldab kinnisvara Pärnus, Suur-Jõe tänav
48. Ettevõte pakub kinnistu ühes hoones äripindade renditeenust, millest saadud
renditulu oli 2024. aasta teises kvartalis 9 tuhat eurot (2023 2. kv: 12 tuhat
eurot).
Kinnisvarahalduse 2024. aasta 2. kvartali EBITDA oli negatiivne 3 tuhat eurot
(2023 2.kv: negatiivne 4 tuhat eurot).
TULEVIKU VÄLJAVAADE
Nordic fibreboard Ltd
2024 aasta teise poolaasta majandusväljavaated ei ole oluliselt paranenud, kuigi
piirkondlikud intressimäärade langetused võivad äritegevusele teatud positiivset
mõju avaldada. Siiski on nende meetmete mõju peamiselt pikaajaline.
Lähitulevikus jäävad meie suurimaks väljakutseks uute klientide ja turgude
leidmine, millega aktiivselt tegeleme. Endiselt keskendume ka olemasolevatele
turgudele ja võtmeklientide haldamisele, sest stabiilsus ja usaldusväärsus on
turbulentsetes majandustingimustes üha enam hinnas.
Positiivse noodina Nordic Fibreboardi jaoks näitavad tulevikutrendid ja
-väljavaated üha suuremat keskendumist rohelistele ja keskkonnasäästlikele
lahendustele, nii ehitussektoris kui ka mitmetes teistes tööstusharudes, kuhu
Nordic Fibreboard juba müüb või võiks potentsiaalselt oma tooteid müüa.
Innovatsioon on selles protsessis võtmetähtsusega, pakkudes klientidele
lahendusi, mis vastavad üha rangematele keskkonnanõuetele ja tarbijate
keskkonnasäästlike eelistuste kasvule.
Ärilise analüüsi ja kasvuvõimaluste kaardistamise tulemusel on Nordic Fibreboard
käivitanud kasvule suunatud strateegia, mis keskendub strateegilistele
investeeringutele müügi-, turundus- ja arendustegevusse, et laiendada oma
kliendibaasi ja võimalikku tootevalikut. Esimeses etapis keskendume kiiretele ja
lihtsatele võimalustele, et maksimeerida lähitulevikus kasvupotentsiaali. Samal
ajal arendame edasi oma väärtuspakkumist, et liikuda kõrgemale oma klientide
väärtusahelas. See tagab tihedama partnerluse ja laiema ulatuse praeguste ja
tulevaste ärivõimaluste haaramisel.
Tootmismahtude planeerimisel järgime müügimahtude dünaamikat, tagades
paindlikkuse ja kiire reageerimisvõime klientide tellimustele.
Pärnu Riverside Development Oü
Jätkatakse Pärnus Suur-Jõe tn 48 oleva kinnisvara haldamist ja arendamist.
Valminud on kinnistu detailplaneering, eesmärgiga arendada kinnistu elamumaaks.
FINANTSSUHTARVUD
tuh EUR
| | | |
Kasumiaruanne |II kv 2024|II kv 2023| 6k 2024| 6k 2023
-----------------------------------+----------+----------+----------+----------
Müügitulu | 2 179| 2 010| 4 140| 4 606
-----------------------------------+----------+----------+----------+----------
EBITDA | 217| 190| 270| 96
-----------------------------------+----------+----------+----------+----------
EBITDA rentaablus | 10%| 9%| 7%| 2%
-----------------------------------+----------+----------+----------+----------
Ärikasum/-kahjum | 86| 69| 10| (554)
-----------------------------------+----------+----------+----------+----------
Ärirentaablus | 4%| 3%| 0%| (12%)
-----------------------------------+----------+----------+----------+----------
Puhaskasum/-kahjum | (23)| (7)| (96)| (604)
-----------------------------------+----------+----------+----------+----------
Puhasrentaablus | (1%)| (0%)| (2%)| (13%)
| | | |
| | | |
Bilanss |30.06.2024|31.12.2023|30.06.2023|31.12.2022
-----------------------------------+----------+----------+----------+----------
Koguvarad | 9 252| 8 505| 8 856| 9 408
-----------------------------------+----------+----------+----------+----------
Koguvarade puhasrentaablus | (1%)| (8%)| (7%)| 13%
-----------------------------------+----------+----------+----------+----------
Omakapital | 4 306| 4 402| 4 480| 5 084
-----------------------------------+----------+----------+----------+----------
Omakapitali puhasrentaablus | (2%)| (16%)| (13%)| 24%
-----------------------------------+----------+----------+----------+----------
Võlakordaja | 53%| 48%| 49%| 46%
| | | |
| | | |
Aktsia |30.06.2024|31.12.2023|30.06.2023|31.12.2022
-----------------------------------+----------+----------+----------+----------
Aktsia viimane hind (EUR)* | 1,03| 0,90| 1,24| 1,60
-----------------------------------+----------+----------+----------+----------
Puhaskasum aktsia kohta (EUR) | (0,04)| (0,15)| (0,02)| 0,27
-----------------------------------+----------+----------+----------+----------
Hind-tulu (PE) suhtarv | (26,75)| (5,93)| (54,66)| 5,83
-----------------------------------+----------+----------+----------+----------
Aktsia raamatupidamisväärtus (EUR)| 0,96| 0,98| 1,00| 1,13
-----------------------------------+----------+----------+----------+----------
Turuhinna ja| | | |
raamatupidamisväärtuse suhe | 1,08| 0,92| 1,25| 1,42
-----------------------------------+----------+----------+----------+----------
Turukapitalisatsioon tuh EUR | 4 634| 4 049| 5 579| 7 198
-----------------------------------+----------+----------+----------+----------
Aktsiate arv tk | 4 499 061| 4 499 061| 4 499 061| 4 499 061
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
tuh EUR |30.06.2024|31.12.2023|30.06.2023|31.12.2022
-----------------------------------+----------+----------+----------+----------
Raha ja raha ekvivalendid | 2| 7| 2| 2
-----------------------------------+----------+----------+----------+----------
Nõuded ja ettemaksed (Lisa 2) | 1 084| 534| 717| 559
-----------------------------------+----------+----------+----------+----------
Varud (Lisa 3) | 1 027| 728| 930| 1 672
-----------------------------------+----------+----------+----------+----------
Kokku käibevarad | 2 113| 1 269| 1 649| 2 233
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Kinnisvarainvesteeringud (Lisa 4) | 2 294| 2 269| 1 859| 1 859
-----------------------------------+----------+----------+----------+----------
Finantsvarad õiglases väärtuses | | | |
muutustega läbi kasumiaruande | | | |
(Lisa 7) | 491| 491| 698| 644
-----------------------------------+----------+----------+----------+----------
Materiaalne põhivara (Lisa 5) | 4 351| 4 475| 4 648| 4 670
-----------------------------------+----------+----------+----------+----------
Immateriaalne põhivara (Lisa 6) | 3| 1| 2| 2
-----------------------------------+----------+----------+----------+----------
Kokku põhivarad | 7 139| 7 236| 7 207| 7 175
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
KOKKU VARAD | 9 252| 8 505| 8 856| 9 408
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Võlakohustised (Lisas 8) | 765| 556| 124| 290
-----------------------------------+----------+----------+----------+----------
Võlad ja ettemaksed (Lisas 9) | 1 401| 756| 1 094| 1 014
-----------------------------------+----------+----------+----------+----------
Lühiajalised eraldised (Lisa 10) | 10| 21| 8| 18
-----------------------------------+----------+----------+----------+----------
Kokku lühiajalised kohustised | 2 176| 1 333| 1 226| 1 322
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Pikaajalised võlakohustised (Lisas| | | |
8) | 2 659| 2 659| 2 884| 2 875
-----------------------------------+----------+----------+----------+----------
Pikaajalised võlad ja ettemaksed | 0| 0 | 139| 0
-----------------------------------+----------+----------+----------+----------
Pikaajalised eraldised (Lisa 10) | 111| 111| 127| 127
-----------------------------------+----------+----------+----------+----------
Kokku pikaajalised kohustised | 2 770| 2 770| 3 150| 3 002
-----------------------------------+----------+----------+----------+----------
Kokku kohustised | 4 946| 4 103| 4 376| 4 324
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Aktsiakapital (nominaalväärtuses) | | | |
(Lisa 11) | 450| 450| 450| 450
-----------------------------------+----------+----------+----------+----------
kohustuslik reservkapital | 45| 45| 45| 45
-----------------------------------+----------+----------+----------+----------
Jaotamata kasum (kahjum) | 3 811| 3 907| 3 985| 4 589
-----------------------------------+----------+----------+----------+----------
Kokku omakapital | 4 306| 4 402| 4 480| 5 084
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
KOKKU KOHUSTISED JA OMAKAPITAL | 9 252| 8 505| 8 856| 9 408
KONSOLIDEERITUD KASUMI- JA MUU KOONDKASUMIARUANNE
tuh EUR |II kv 2024|II kv 2023|6k 2024|6k 2023
-----------------------------------------+----------+----------+-------+-------
Müügitulu (Lisa 13) | 2 179| 2 010| 4 140| 4 606
-----------------------------------------+----------+----------+-------+-------
Müüdud toodangu kulu (Lisa 14) | 1 755| 1 629| 3 468| 4 064
-----------------------------------------+----------+----------+-------+-------
Brutokasum | 424| 381| 672| 542
-----------------------------------------+----------+----------+-------+-------
| | | |
-----------------------------------------+----------+----------+-------+-------
Turustuskulud (Lisa 15) | 251| 171| 477| 403
-----------------------------------------+----------+----------+-------+-------
Üldhalduskulud (Lisa 16) | 94| 133| 192| 273
-----------------------------------------+----------+----------+-------+-------
Muud äritulud (Lisa 18) | 8| 0| 8| 0
-----------------------------------------+----------+----------+-------+-------
Muud ärikulud (Lisa 18) | 1| 8| 1| 420
-----------------------------------------+----------+----------+-------+-------
Ärikasum (-kahjum) | 86| 69| 10| (554)
-----------------------------------------+----------+----------+-------+-------
| | | |
-----------------------------------------+----------+----------+-------+-------
Finantstulud (Lisa 19) | 0| 0| 0| 55
-----------------------------------------+----------+----------+-------+-------
Finantskulud (Lisa 19) | 109| 76| 106| 105
-----------------------------------------+----------+----------+-------+-------
KASUM (-KAHJUM) ENNE TULUMAKSUSTAMIST | (23)| (7)| (96)| (604)
-----------------------------------------+----------+----------+-------+-------
| | | |
-----------------------------------------+----------+----------+-------+-------
KOKKU ARUANDEAASTA KOONDKASUM | | | |
(-KAHJUM) | (23)| (7)| (96)| (604)
-----------------------------------------+----------+----------+-------+-------
| | | |
-----------------------------------------+----------+----------+-------+-------
Tava perioodi puhaskasum (-kahjum) | | | |
aktsia kohta (Lisa 12) | (0.01)| (0.00)| (0.02)| (0.13)
-----------------------------------------+----------+----------+-------+-------
Lahustatud perioodi puhaskasum (-kahjum)| | | |
aktsia kohta (Lisa 12) | (0.01)| (0.00)| (0.02)| (0.13)
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
tuh EUR |6k 2024|6k 2023
----------------------------------------------------------+-------+-------
Äritegevuse rahavood | |
----------------------------------------------------------+-------+-------
Ärikasum (-kahjum) | 10| (554)
----------------------------------------------------------+-------+-------
Korrigeerimised: | |
----------------------------------------------------------+-------+-------
Kulum (Lisad 5; 6) | 260| 244
----------------------------------------------------------+-------+-------
Nõuete ja ettemaksete muutus (Lisa 2) | (550)| (158)
----------------------------------------------------------+-------+-------
Varude muutus (Lisa 3) | (299)| 742
----------------------------------------------------------+-------+-------
Äritegevusega seotud kohustiste muutus (Lisa 9) | 645| 219
----------------------------------------------------------+-------+-------
Eraldiste muutus (Lisa 10) | (11)| (10)
----------------------------------------------------------+-------+-------
| |
----------------------------------------------------------+-------+-------
Äritegevusega genereeritud rahavood | 55| 483
----------------------------------------------------------+-------+-------
Intressimaksed (Lisa 19) | (106)| (101)
----------------------------------------------------------+-------+-------
Muud finantstulud ja -kulud | 0| (4)
----------------------------------------------------------+-------+-------
Äritegevuse rahavood kokku | (51)| 378
----------------------------------------------------------+-------+-------
| |
----------------------------------------------------------+-------+-------
Investeerimistegevuse rahavood | |
----------------------------------------------------------+-------+-------
Materiaalse ja immateriaalse põhivara soetus (Lisad 5; 6)| (138)| (171)
----------------------------------------------------------+-------+-------
Kinnisvarainvesteeringu soetus (Lisa 4) | (25)| 0
----------------------------------------------------------+-------+-------
Investeerimistegevuse rahavood kokku | (163)| (171)
----------------------------------------------------------+-------+-------
| |
----------------------------------------------------------+-------+-------
Finantseerimistegevuse rahavood | |
----------------------------------------------------------+-------+-------
Saadud laenude tagasimaksed (Lisa 8) | (104)| (306)
----------------------------------------------------------+-------+-------
Saadud laenud seotud osapooltelt (Lisa 8) | 0| 200
----------------------------------------------------------+-------+-------
Arvelduskrediidi muutus (Lisa 8) | 324| (68)
----------------------------------------------------------+-------+-------
Rendikohustiste põhiosa tagasimaksed (Lisa 8) | (11)| (33)
----------------------------------------------------------+-------+-------
Finantseerimistegevuse rahavood kokku | 209| (207)
----------------------------------------------------------+-------+-------
| |
----------------------------------------------------------+-------+-------
RAHA RAHA EKVIVALENTIDE MUUTUS | (5)| 0
----------------------------------------------------------+-------+-------
RAHA JA RAHA EKVIVALENDID PERIOODI ALGUSES | 7| 2
----------------------------------------------------------+-------+-------
RAHA JA RAHA EKVIVALENDID PERIOODI LÕPUS | 2| 2
Enel Äkke
Juhatuse liige
+372 55525550
group@nordicfibrebaord.com
(https://www.globenewswire.com/Tracker?data=pEVh5RECvZchOchKr6c1qe2agOvQPwnEyz9p
Z-pAberjB-w-Dox6M7D_nzRVzoiQmn71PNYIjIfrNEO0RTF8NyyNQqloWQV0DPX-
5fP0suwcVxHajrZ65g3ySpgMEkdFVp_yXBJdCDSLjOy3Vy-
Gcle2IzOwV0678yU07GaR55eXlAb2TJwJ1-BZ6jaw_RcjKDA8CyCwFgEehFYr7q-UnR14CMiId2-
sLb8H1tiN3svWFNWHu4mtxM4r2w8h7w-xHqRFnrJNAJ9eTrrq7G_Xa1X5yOcKgdHYxX04qZt0zbk=)
Title
Nordic Fibreboard AS consolidated unaudited financial results for Q2 and 6 months of 2024
Message
MANAGEMENT REPORT
Consolidated net sales for Q2 2024 were EUR 2.18 million, which was a 8% increase
compared to the same period last year (Q2 2023: EUR 2.01 million). The main
business area is the production and wholesale of softboard, which recorded sales
in Q2 2024 of EUR 2.17 million (Q2 2023: EUR 2.00 million). The remaining business
area is real estate management of the property owned in Suur-Jõe street in
Pärnu, who recorded sales of EUR 0.01 million in Q2 2024 (Q2 2023: also EUR 0.01
million).
The reason for the increase in sales revenue of fiberboard (comparing the Q2
2023 to the Q2 2024) is the addition of new industrial customers in 2024. The
company's primary focus remains on finding new customers, with the goal of
expanding its customer portfolio and discovering new business directions.
The consolidated EBITDA of Nordic Fibreboard AS for Q2 2024 was positive EUR 217
thousand (Q2 2023: positive EUR 190 thousand). EBITDA margin was positive 10% in
Q2 2024 (Q2 2023: positive 9%). The Group's gross margin was 25% both in the Q2
2024 and in the Q2 2023.
The consolidated operating profit of Nordic Fibreboard AS for Q2 2024 was EUR 86
thousand and operating margin was 4%, (Q2 2023: operating profit EUR 69 thousand
and operating margin was 3%).
Group`s consolidated net loss for Q2 2024 was EUR 23 thousand (Q2 2023: loss EUR 7
thousand). The net loss for the Q2 2024 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 56 thousand (Q2 2023, the loss from the revaluation of
the TPD shares was EUR 19 thousand).
DIVISIONAL REVIEW
REVENUE BY BUSINESS SEGMENTS
EUR thousand Q2 2024 | Q2 2023 | 6M 2024 | 6M 2023
---------------------------------------------+---------+---------+---------
Fibreboards production and sales 2,170 | 1,998 | 4,119 | 4,583
---------------------------------------------+---------+---------+---------
Real Estate Management 9 | 12 | 21 | 23
---------------------------------------------+---------+---------+---------
TOTAL 2,179 | 2,010 | 4,140 | 4,606
PROFIT BY BUSINESS SEGMENTS
EUR thousand Q2 2024|Q2 2023 6M 2024|6M 2023
-----------------------------------------------+---------------+-------
EBITDA by business units: | |
-----------------------------------------------+---------------+-------
Fibreboards production and sales 228| 212 290| 137
-----------------------------------------------+---------------+-------
Real Estate Management (3)| (4) (15)| (17)
-----------------------------------------------+---------------+-------
Group transactions (8)| (18) (5)| (24)
-----------------------------------------------+---------------+-------
TOTAL EBITDA 217| 190 270| 96
-----------------------------------------------+---------------+-------
Extraordinary other operating expenses 0| 0 0| (406*)
-----------------------------------------------+---------------+-------
Depreciation (131)| (121) (260)| (244)
-----------------------------------------------+---------------+-------
TOTAL OPERATING PROFIT/ LOSS 86| 69 10| (554)
-----------------------------------------------+---------------+-------
Net financial costs (109)| (76) (106)| (50)
-----------------------------------------------+---------------+-------
NET PROFIT/ LOSS (23)| (7) (96)| (604)
* consists of the one-time loss received from the resale of electricity to the
electricity company.
NORDIC FIBREBOARD Ltd: fibreboard productions and sales
Fibreboard sales for Q2 2024 were EUR 2.17 million (Q2 2023: EUR 2.00 thousand). The
main reason for the increase in sales revenue in the 2nd quarter of 2024
compared to the 2nd quarter of 2023 was the addition of new industrial
customers. Sales in Estonia increased by 48% in the second quarter of 2024
compared to the same period last year, and sales to the Finnish market increased
by 43%.
In the Q2 2024, there was no sales revenue from a large Danish customer, whose
share was 22% of total sales in the same period of 2023. In the Q2 2024, this
part of the sales revenue will be compensated by the addition of new industrial
customers. The largest of them is located in the Netherlands, followed by
Swedish and Polish companies. These new customers accounted for 18% of sales in
the first half of 2024
The consolidated EBITDA of Nordic Fibreboard Ltd OÜ for Q2 2024 was positive EUR
228 thousand (Q2 2023: positive EUR 212 thousand).
FIBREBOARD SALES BY GEOGRAPHICAL SEGMENTS
EUR thousand Q2 2024 | Q2 2023 | 6M 2024 | 6M 2023
---------------------------+---------+---------+---------
European Union 2,106 | 1,862 | 3,798 | 4,317
---------------------------+---------+---------+---------
Middle East 41 | 28 | 57 | 28
---------------------------+---------+---------+---------
Asia 23 | 23 | 84 | 55
---------------------------+---------+---------+---------
Africa 0 | 40 | 167 | 93
---------------------------+---------+---------+---------
Other 0 | 45 | 13 | 90
---------------------------+---------+---------+---------
TOTAL 2,170 | 1,998 | 4,119 | 4,583
PÄRNU RIVERSIDE DEVELOPMENT Oü: real estate management
Pärnu Riverside Development OÜ owns and manages real estate in Pärnu, Suur-Jõe
street 48. The company offers commercial premises rental services in one of the
property's buildings, the rental income from real estate management was EUR 9
thousand in Q2 2024, (Q2 2023: EUR 12 thousand).
The real estate management EBITDA for Q2 2024 were negative EUR 3 thousand (Q2
2023: negative EUR 4 thousand).
OUTLOOK
NORDIC FIBREBOARD LTD
The economic outlook for the second half of 2024 has not significantly improved,
although regional interest rate reductions may have some positive impact on
business operations. However, the effects of these measures are primarily long-
term. In the near future, our greatest challenge-and simultaneously our greatest
opportunity- is acquiring new clients and markets which we are actively working
on. We are still focusing on managing existing markets and key clients, as
stability and reliability are becoming increasingly valued in turbulent economic
conditions.
On a positive side for Nordic Fibreboard the future trends and outlooks indicate
an increasing focus on green and environmentally friendly solutions, both in the
construction sector and also in various other industries that Nordic Fibreboard
products are already being sold or potentially could be sold. Innovation is key
in this process, providing solutions to the clients that meet increasingly
stringent environmental regulations and the growing consumer preference for
environmentally sustainable products.
As a result of our business analysis and mapping of growth opportunities, Nordic
Fibreboard has launched a growth-oriented strategy focused on strategic
investments in sales, marketing and development activities to expand our
customer base and product line. In the first phase, we will focus on quick and
straightforward opportunities to maximize growth potential in the near term. At
the same time, we will continue to develop our value proposition to move higher
up the value chain for our clients. This will ensure closer partnerships and a
broader reach in capturing both current and future business opportunities.
When planning production volumes, we follow the dynamics of sales volumes,
ensuring flexibility and quick response to customer orders.
PÄRNU RIVERSIDE DEVELOPMENT
We will continue to manage and develop the property on Suur-Jõe Street 48,
Pärnu. A detail plan for the property has been completed, with the intention of
converting the property into a residential property.
FINANCIAL HIGHLIGHTS
Income statement | Q2 2024| Q2 2023 6M 2024| 6M 2023
----------------------------------+----------+----------+----------+----------
Revenue | 2,179| 2,010| 4,140| 4,606
----------------------------------+----------+----------+----------+----------
EBITDA | 217| 190| 270| 96
----------------------------------+----------+----------+----------+----------
EBITDA margin | 10%| 9%| 7%| 2%
----------------------------------+----------+----------+----------+----------
Operating profit | 86| 69| 10| (554)
----------------------------------+----------+----------+----------+----------
Operating margin | 4%| 3%| 0%| (12%)
----------------------------------+----------+----------+----------+----------
Net profit | (23)| (7)| (96)| (604)
----------------------------------+----------+----------+----------+----------
Net margin | (1%)| (0%)| (2%)| (13%)
| | | |
| | | |
Statement of financial position |30.06.2024|31.12.2023|30.06.2023|31.12.2022
----------------------------------+----------+----------+----------+----------
Total assets | 9,252| 8,505| 8,856| 9,408
----------------------------------+----------+----------+----------+----------
Return on assets | (1%)| (8%)| (7%)| 13%
----------------------------------+----------+----------+----------+----------
Equity | 4,306| 4,402| 4,480| 5,084
----------------------------------+----------+----------+----------+----------
Return on equity | (2%)| (16%)| (13%)| 24%
----------------------------------+----------+----------+----------+----------
Debt-to-equity ratio | 53%| 48%| 49%| 46%
| | | |
| | | |
Share |30.06.2024|31.12.2023|30.06.2023|31.12.2022
----------------------------------+----------+----------+----------+----------
Last Price* | 1.03| 0.90| 1.24| 1.60
----------------------------------+----------+----------+----------+----------
Earnings per share | (0.04)| (0.15)| (0.02)| 0.27
----------------------------------+----------+----------+----------+----------
Price-earnings ratio | (26.75)| (5.93)| (54.66)| 5.83
----------------------------------+----------+----------+----------+----------
Book value of a share | 0.96| 0.98| 1.00| 1.13
----------------------------------+----------+----------+----------+----------
Market to book ratio | 1.08| 0.92| 1.25| 1.42
----------------------------------+----------+----------+----------+----------
Market capitalization, EUR thousand| 4 634| 4 049| 5 579| 7 198
----------------------------------+----------+----------+----------+----------
Number of shares, piece | 4,499,061| 4,499,061| 4,499,061| 4,499,061
CONSOLIDATED STATEMENT OF FINANCIAL POSITIONS
EUR thousand |30.06.2024|31.12.2023|30.06.2023|31.12.2022
-----------------------------------+----------+----------+----------+----------
Cash and cash equivalents | 2| 7| 2| 2
-----------------------------------+----------+----------+----------+----------
Receivables and prepayments (Note | | | |
2) | 1,084| 534| 717| 559
-----------------------------------+----------+----------+----------+----------
Inventories (Note 3) | 1,027| 728| 930| 1,672
-----------------------------------+----------+----------+----------+----------
Total current assets | 2,113| 1,269| 1,649| 2,233
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Investment property (Note 4) | 2,294| 2,269| 1,859| 1,859
-----------------------------------+----------+----------+----------+----------
Financial assets at fair value | | | |
through profit or loss (Note 7) | 491| 491| 698| 644
-----------------------------------+----------+----------+----------+----------
Property, plant and equipment | | | |
(Note 5) | 4,351| 4,475| 4,648| 4,670
-----------------------------------+----------+----------+----------+----------
Intangible assets (Note 6) | 3| 1| 2| 2
-----------------------------------+----------+----------+----------+----------
Total non-current assets | 7,139| 7,236| 7,207| 7,175
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
TOTAL ASSETS | 9,252| 8,505| 8,856| 9,408
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Borrowings (Notes 8) | 765| 556| 124| 290
-----------------------------------+----------+----------+----------+----------
Payables and prepayments (Notes 9)| 1,401| 756| 1,094| 1,014
-----------------------------------+----------+----------+----------+----------
Short-term provisions (Note 10) | 10| 21| 8| 18
-----------------------------------+----------+----------+----------+----------
Total current liabilities | 2,176| 1,333| 1,226| 1,322
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Long-term borrowings (Notes 8) | 2,659| 2,659| 2,884| 2,875
-----------------------------------+----------+----------+----------+----------
Long-term payables and prepayments| | | |
(Notes 9) | 0| 0| 139| 0
-----------------------------------+----------+----------+----------+----------
Long-term provisions (Note 10) | 111| 111| 127| 127
-----------------------------------+----------+----------+----------+----------
Total non-current liabilities | 2,770| 2,770| 3,150| 3,002
-----------------------------------+----------+----------+----------+----------
Total liabilities | 4,946| 4,103| 4,376| 4,324
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Share capital (at nominal value) | | | |
(Note 11) | 450| 450| 450| 450
-----------------------------------+----------+----------+----------+----------
Statutory reserve capital | 45| 45| 45| 45
-----------------------------------+----------+----------+----------+----------
Retained earnings (loss) | 3,811| 3,907| 3,985| 4,589
-----------------------------------+----------+----------+----------+----------
Total equity | 4,306| 4,402| 4,480| 5,084
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
TOTAL LIABILITIES AND EQUITY | 9,252| 8,505| 8,856| 9,408
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
EUR thousand | Q2 2024 | Q2 2023 | 6M 2024 | 6M 2023
---------------------------------------+---------+---------+---------+---------
Revenue (Note 13) | 2,179 | 2,010 | 4,140 | 4,606
---------------------------------------+---------+---------+---------+---------
Cost of goods sold (Note 14) | 1,755 | 1,629 | 3,468 | 4,064
---------------------------------------+---------+---------+---------+---------
Gross profit | 424 | 381 | 672 | 542
---------------------------------------+---------+---------+---------+---------
| | | |
---------------------------------------+---------+---------+---------+---------
Distribution costs (Note 15) | 251 | 171 | 477 | 403
---------------------------------------+---------+---------+---------+---------
Administrative expenses (Note 16) | 94 | 133 | 192 | 273
---------------------------------------+---------+---------+---------+---------
Other operating income (Note 18) | 8 | 0 | 8 | 0
---------------------------------------+---------+---------+---------+---------
Other operating expenses (Note 18) | 1 | 8 | 1 | 420
---------------------------------------+---------+---------+---------+---------
Operating profit (loss) | 86 | 69 | 10 | (554)
---------------------------------------+---------+---------+---------+---------
| | | |
---------------------------------------+---------+---------+---------+---------
Finance income (Note 19) | 0 | 0 | 0 | 55
---------------------------------------+---------+---------+---------+---------
Finance costs (Note 19) | 109 | 76 | 106 | 105
---------------------------------------+---------+---------+---------+---------
LOSS BEFORE INCOME TAX | (23) | (7) | (96) | (604)
---------------------------------------+---------+---------+---------+---------
| | | |
---------------------------------------+---------+---------+---------+---------
NET PROFIT (LOSS) FOR THE PERIOD | (23) | (7) | (96) | (604)
---------------------------------------+---------+---------+---------+---------
| | | |
---------------------------------------+---------+---------+---------+---------
Basic earnings per share (Note 12) | (0.01) | (0.00) | (0.02) | (0.13)
---------------------------------------+---------+---------+---------+---------
Diluted earnings per share (Note 12) | (0.01) | (0.00) | (0.02) | (0.13)
CONSOLIDATED STATEMENT OF CASH FLOW
EUR thousand |6M 2024|6M 2023
---------------------------------------------------------------+-------+-------
Cash flows from operating activities | |
---------------------------------------------------------------+-------+-------
Operating profit (loss) | 10| (554)
---------------------------------------------------------------+-------+-------
Adjustments: | |
---------------------------------------------------------------+-------+-------
Depreciation charge (Notes 5; 6) | 260| 244
---------------------------------------------------------------+-------+-------
Change in trade and other receivables (Note 2) | (550)| (158)
---------------------------------------------------------------+-------+-------
Change in inventories (Note 3) | (299)| 742
---------------------------------------------------------------+-------+-------
Change in trade and other payables (Note 9) | 645| 219
---------------------------------------------------------------+-------+-------
Change in provisions (Note 10) | (11)| (10)
---------------------------------------------------------------+-------+-------
| |
---------------------------------------------------------------+-------+-------
Cash generated from operations | 55| 483
---------------------------------------------------------------+-------+-------
Interest payments (Note 19) | (106)| (101)
---------------------------------------------------------------+-------+-------
Net other financial income and expense | 0| (4)
---------------------------------------------------------------+-------+-------
Net cash generated from operating activities | (51)| 378
---------------------------------------------------------------+-------+-------
| |
---------------------------------------------------------------+-------+-------
Cash flows from investing activities | |
---------------------------------------------------------------+-------+-------
Purchase of property, plant and equipment and intangible | |
assets (Notes 5; 6) | (138)| (171)
---------------------------------------------------------------+-------+-------
Purchase of real estate investment (Note 4) | (25)| 0
---------------------------------------------------------------+-------+-------
Net cash used in investing activities | (163)| (171)
---------------------------------------------------------------+-------+-------
| |
---------------------------------------------------------------+-------+-------
Cash flows from financing activities | |
---------------------------------------------------------------+-------+-------
Repayment of loans received (Note 8) | (104)| (306)
---------------------------------------------------------------+-------+-------
Loans received from related parties (Note 8) | 0| 200
---------------------------------------------------------------+-------+-------
Change in overdraft (Note 8) | 324| (68)
---------------------------------------------------------------+-------+-------
Repayment of principal element of lease liability (Note 8) | (11)| (33)
---------------------------------------------------------------+-------+-------
Net cash (used in)/from financing activities | 209| (207)
---------------------------------------------------------------+-------+-------
| |
---------------------------------------------------------------+-------+-------
NET CHANGE IN CASH | (5)| 0
---------------------------------------------------------------+-------+-------
OPENING BALANCE OF CASH | 7| 2
---------------------------------------------------------------+-------+-------
CLOSING BALANCE OF CASH | 2| 2
Enel Äkke
Member of Management Board
+372 55525550
group@nordicfibreboard.com