Market announcement
Nordic Fibreboard AS
LEI code
54930002HOIXBD15OM06
Size of the entity
Small group
Economic activities
Financial and Insurance Activities
Country of registered office
Estonia
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
17035
Attachments
Submission date and time
28.02.2025 15:19:55
Content of announcement in Estonian
Title
Nordic Fibreboard AS 2024. aasta IV kvartali ja 12 kuu auditeerimata majandustulemused
Message
JUHTKONNA ARUANNE Nordic Fibreboard AS konsolideeritud müügitulu oli 2024. aasta 4. kvartalis 1,51 miljonit eurot, mis oli 15% tõusu võrreldes eelmise aasta sama perioodiga (2023 4. kvartalis 1,31 miljonit eurot). Kontserni peamine tegevusala on puitkiudplaadi tootmine ja hulgimüük, mis moodustas valdava osa 2024. aasta 4. kvartali kontserni müügitulust. Teiseks segmendiks on Pärnus Suur-Jõe tänaval oleva kinnisvara haldamine, mille müügitulu osakaal 0,10% 2024. aasta 4. kvartali kogumüügist (2023. aasta 4. kvartalis 0,95%). 2024 aasta 4. kvartali müügitulu kasvas 212 tuhande euro võrra võrreldes 2023. aasta 4. kvartaliga. Skandinaavia ehitussektori klientide müügimaht vähenes võrreldes 2023. aasta neljanda kvartaliga, samas kui tööstusklientide tellimused on näidanud kasvutrendi. Ootamatu force majeure olukord sundis tehast detsembris ajutiselt sulgema, mistõttu tootmine seiskus kogu kuuks. See mõjutas detsembrikuu tootmis -ja müügimahtusid ning avaldas negatiivset mõju kvartali tulemusele. Pärnu Riverside Development OÜ kinnisvara haldamise müügitulu Suur-Jõe tänava kinnistul vähenes 2024. aasta 4. kvartalis võrreldes 2023. aasta 4. kvartaliga. Müügitulu langus oli tingitud rendilepingute lõpetamisest 2024. aasta augustis. Rendilepingud lõpetati tootmishoone kompleksi eripärade tõttu, mis põhjustasid kõrgeid halduskulusid, mida renditulud ei suutnud katta. Nordic Fibreboard konsolideeritud EBITDA oli 2024. aasta 4. kvartalis negatiivne 276 tuhat eurot, EBITDA rentaablus negatiivne 18% (2023. aasta 4. kvartali EBITDA positiivne 245 tuhat eurot ning EBITDA rentaablus positiivne 19%). Võrreldes 2023. aasta 4. kvartaliga langes Kontserni brutomarginaal 9%-lt 2024. aasta 4. kvartalis 4%-le, mis näitab, et Kontserni 2024. aasta 4. kvartali kasumlikkus on võrreldes eelmise aasta sama perioodiga langenud. 2024. aasta 4. kvartali EBITDA suur vähenemine võrreldes eelmise aasta sama perioodiga tulenes peamiselt 2023. aasta lõpus teostatud kinnisvarainvesteeringute ümberhindlustest Pärnu Riverside Development OÜ-s ja Nordic Fibreboard Ltd OÜ-s, kus Kontsern sai kinnisvarainvesteeringute ümberhindlusest ühekordset tulu 404 tuhat eurot. 2024. aastal kinnisvarainvesteeringute õiglane väärtus ei muutunud. Lisaks mõjutas EBITDA-t negatiivselt tehase sunnitud seiskumine force majeure olukorra tõttu detsembris. Seiskumise ajal tuli jätkuvalt katta personalikulud, tehase ülalpidamiskulud ning remondikulud, mis mõjutasid EBITDA tulemust negatiivselt. 2024. aasta 4. kvartali finantstulud olid 68 tuhat eurot, mis koosnesid Trigon Property Development (TPD) aktsiate ümberhindlusest (2023. aasta 4. kvartalis 0 eurot). Finantskulud 2024. aasta 4. kvartalis olid 87 tuhat eurot, mis koosnesid laenuintressikuludest (2023. aasta 4. kvartalis 237 tuhat eurot, millest 184 tuhat eurot moodustas kahjum TPD aktsiate ümberhindlusest ning 54 tuhat eurot laenuintressikulud. Kontserni 2024. aasta 4. kvartali konsolideeritud puhaskahjum oli 427 tuhat eurot (2023. aasta 4. kvartalis puhaskahjum 115 tuhat eurot). Ärivaldkondade ülevaade Müügitulu ärisegmentide lõikes +-----------------------------+------------+------------+----------+----------+ | tuh EUR | IV kv 2024 | IV kv 2023 | 12k 2024 | 12k 2023 | +-----------------------------+------------+------------+----------+----------+ | Kiudplaadi tootmine ja müük | 1 512 | 1 300 | 7 567 | 7 657 | +-----------------------------+------------+------------+----------+----------+ | Kinnisvara haldamine | 2 | 12 | 25 | 47 | +-----------------------------+------------+------------+----------+----------+ | KOKKU | 1 514 | 1 312 | 7 592 | 7 704 | +-----------------------------+------------+------------+----------+----------+ Kasum ärisegmentide lõikes +--------------------------------+----------+----------+--------+--------+ |tuh EUR |IV kv 2024|IV kv 2023|12k 2024|12k 2023| +--------------------------------+----------+----------+--------+--------+ |EBITDA ärisegmentide lõikes: | | | | | +--------------------------------+----------+----------+--------+--------+ |Kiudplaadi tootmine ja müük |(245) |127 |26 |510 | +--------------------------------+----------+----------+--------+--------+ |Kinnisvara haldamine |(27) |132 |(48) |113 | +--------------------------------+----------+----------+--------+--------+ |Elimineerimine |(4) |(14) |(3) |(44) | +--------------------------------+----------+----------+--------+--------+ |KOKKU EBITDA |(276) |245 |(25) |579 | +--------------------------------+----------+----------+--------+--------+ |Erakorraline muu ärikulu |0 |0 |0 |(406) | +--------------------------------+----------+----------+--------+--------+ |Põhivara kulum ja amortisatsioon|(132) |(123) |(522) |(489) | +--------------------------------+----------+----------+--------+--------+ |KOKKU ÄRIKASUM/-KAHJUM |(408) |122 |(547) |(316) | +--------------------------------+----------+----------+--------+--------+ |Neto finantskulud |(19) |(237) |(239) |(366) | +--------------------------------+----------+----------+--------+--------+ |PUHASKASUM/-KAHJUM |(427) |(115) |(786) |(682) | +--------------------------------+----------+----------+--------+--------+ Nordic Fibreboard Ltd: kiudplaadi tootmine ja müük Puitkiudplaadi müügitulu oli 2024. aasta 4. kvartalis 1,51 miljonit eurot (2023. aasta 4 kvartalis 1,30 miljonit eurot). Müügitulemust mõjutasid eelkõige tööstuskliendid, kelle tellimuste maht kasvas 84 tuhande euro võrra, jõudes 320 tuhande euroni (2023. aasta 4. kvartalis 236 tuhat eurot). Ehitussektori kliendid globaalselt tellisid tooteid kokku 1,13 miljoni euro eest, mis on 156 tuhat eurot enam kui 2023. aasta 4 kvartalis. Suurima välisturu, Soome, müügimaht oli 318 tuhat eurot mis on 42 tuhande euro võrra väiksem kui 2023 aasta 4. kvartalis. Üllatava tõusu on teinud Baltikumi turud, kus oli müügi kasv võrreldes eelmise aasta sama perioodiga 155 tuhat eurot, kokku 585 tuhat eurot ( 2023. aasta 4 kvartal 430 tuhat eurot). Mõningal määral on suurenenud ka ülejäänud turgude müügimahud, kusjuures suurimat kasvutempot näitasid väljaspool Euroopat asuvad kliendid. Puitkiudplaadi segmendi 2024. aasta 4. kvartali EBITDA oli negatiivne 245 tuhat eurot, (2023. aasta 4. kvartalis positiivne 127 tuhat eurot). Puitkiudplaadi segmendi 2024. aasta 4. kvartali puhaskahjum oli 390 tuhat eurot (2023. aasta 4. kvartalis puhaskahjum 199 tuhat eurot). 2024. aasta 4. kvartali negatiivne EBITDA võrreldes eelmise aasta sama perioodiga tulenes peamiselt tehase sunnitud seiskumisest force majeure olukorra tõttu detsembris. Seiskumise ajal tuli jätkuvalt katta personalikulud, tehase ülalpidamiskulud ning remondikulud, mis mõjutasid EBITDA tulemust negatiivselt. Kiudplaadi müügitulu geograafiliselt +------------------+-------------------------+---------------------+ | | tuh EUR | tuh EUR | +------------------+------------+------------+----------+----------+ | Regioon | IV kv 2024 | IV kv 2023 | 12k 2024 | 12k 2023 | +------------------+------------+------------+----------+----------+ | Euroopa Liit | 1 310 | 1 120 | 6 896 | 6 974 | +------------------+------------+------------+----------+----------+ | Aasia | 111 | 11 | 212 | 114 | +------------------+------------+------------+----------+----------+ | Aafrika | 49 | 64 | 305 | 197 | +------------------+------------+------------+----------+----------+ | Lähis-Ida | 41 | 41 | 139 | 137 | +------------------+------------+------------+----------+----------+ | Teised regioonid | 1 | 64 | 15 | 235 | +------------------+------------+------------+----------+----------+ | KOKKU | 1 512 | 1 300 | 7 567 | 7 657 | +------------------+------------+------------+----------+----------+ Pärnu Riverside Development: Kinnisvara haldus Pärnu Riverside Development OÜ omab kinnisvara Pärnu linnas asukohaga Suur-Jõe tänav 48. Kinnisvarahaldusest saadud renditulu oli 2024. aasta 4. kvartalis 2 tuhat eurot (2023. aasta 4. kvartalis 12 tuhat eurot). Pärnu Riverside Development OÜ kinnisvara haldamise müügitulu Suur-Jõe tänava kinnistul vähenes 2024. aasta 4. kvartalis võrreldes 2023. aasta 4. kvartaliga rendilepingute lõpetamise tõttu 2024. aasta teises pooles. Rendilepingute lõpetamise otsus tulenes tootmishoone kompleksi eripäradest, mis põhjustasid kõrgeid halduskulusid ja mida ei olnud võimalik rendituludega katta. Kinnisvarahalduse 2024. aasta 4. kvartali EBITDA oli negatiivne 27 tuhat eurot ning puhaskahjum 33 tuhat eurot (2023. aasta 4. kvartalis EBITDA positiivne 132 tuhat eurot ning puhaskasum 129 tuhat eurot). 2023. aasta 4. kvartali positiivne EBITDA ja puhaskasum olid mõjutatud 2023. aasta lõpus teostatud kinnisvarainvesteeringuobjekti õiglase väärtuse ümberhindlusest, 2024. aasta lõpu seisuga teostatud kinnisvarainvesteeringuobjekti õiglase väärtuse hindamisel hindamisobjekti väärtus ei muutunud. Konsolideeritud finantsseisundi ja rahavoogude aruanne Seisuga 31.12.2024 olid Nordic Fibreboard AS varad kokku 8,3 miljonit eurot (31.12.2023: 8,5 miljonit eurot). Kontserni kohustised kokku seisuga 31.12.2024 olid 4,6 miljonit eurot (31.12.2023: 4,1 miljonit eurot), milledest kontsernil võlgnevusi tarnijatele oli 0,4 miljonit eurot seisuga 31.12.2024 (31.12.2023: 0,5 miljonit eurot) ning laenukohustisi 3,7 miljonit eurot seisuga 31.12.2024 (31.12.2023: 3,2 miljonit eurot). Nõuded ja ettemaksed olid kokku 0,6 miljonit eurot seisuga 31.12.2024 (31.12.2023: 0,5 miljonit eurot). Varud seisuga 31.12.2024 olid 0,6 miljonit eurot (31.12.2023: 0,7 miljonit eurot). Kontserni põhivarad kokku seisuga 31.12.2024 olid 7,0 miljonit eurot (31.12.2023: 7,2 miljonit eurot). Kontserni äritegevuse tulemuseks 2024. aasta 12. kuu jooksul oli negatiivne rahavoog 174 tuhat eurot (2023. aasta 12. kuud positiivne rahavoog 266 tuhat eurot). Investeerimistegevuse tulemuseks oli 2024. aasta 12 kuu jooksul negatiivne rahavoog summas 289 tuhat eurot, mis peamiselt koosnes tehtud investeeringutest tootmisvaradesse summas 178 tuhat eurot ning kinnisvarainvesteeringutesse summas 111 tuhat eurot (2023. aasta 12 kuud negatiivne rahavoog 257 tuhat eurot). Finantseerimistegevusest oli sissetulev rahavoog 2024. aasta 12 kuu jooksul 509 tuhat eurot (2023. aasta 12. kuu väljaminev rahavoog 4 tuhat eurot). 2024. aasta 12. kuu netorahavoo tulemuseks oli positiivne rahavoog summas 46 tuhat eurot (2023. aasta 12 kuud positiivne rahavoog summas 5 tuhat eurot). TULEVIKU VÄLJAVAADE Nordic Fibreboard Ltd 2024. aasta 4. kvartali müüginumbrid viitasid mõõdukale kasvule, kuid 2025. aasta tõotab tulla keeruline, eriti ehitussektori jaoks. Suurim välisturg, Soome, mis moodustab üle 30% kogumüügist, on jätkuvalt majanduslikult keerulises olukorras Kuna ka teiste Euroopa riikide ehitussektoris ei ole lähiajal kiiret taastumist oodata, suunab Kontsern oma fookuse uutele turgudele ja tööstussektoritele, et tagada jätkusuutlik kasv. Müügimahtude kasvatamine on ettevõtte jaoks jätkuvalt prioriteet number üks 2025. aastal. 2024. aastal algatatud turundustegevused ja uus brändikuvand aitavad tugevdada ettevõtte turupositsiooni ning muuta ettevõtte väliskuvandi kaasaegsemaks. Jätkatakse aktiivselt tootearendusega, et laiendada ja ajakohastada oma tootevalikut, pakkudes lahendusi nii ehitus- kui ka tööstussektorile. Kasvav huvi Nordic Fibreboardi toodete vastu, suurenenud hinnapäringute arv ning panustamine müügi- ja turundustegevustesse annavad ettevõttele põhjust siseneda 2025. aastasse ettevaatliku optimismiga. Vaatamata keerulisele majanduskeskkonnale on Nordic Fibreboard tegutsenud tulevikku suunatult ja plaanib uuendada ja parendada oma digilahendusi ning investeerida tehase energialahenduste moderniseerimisse. Samuti keskendutakse tehaste kaasajastamise planeerimisse, et tagada kõrge kvaliteediga toodang ja kaasaegsed tehnilised lahendused. Ettevõtte jaoks on inimressursid üks olulisemaid väärtusi, seetõttu on kaasatud ja soovitakse ka edaspidi kaasata oma meeskonda parimad spetsialistid, kes aitavad ettevõttel kasvada ja areneda soovitud suunas. Nagu paljud ettevõtted, usub ka Nordic Fibreboard, et majanduslanguse sügavaim punkt on möödas ning 2025. aastast algab järk-järguline taastumine. Positiivset väljavaadet toetavad intressimäärade jätkuv langus ja majanduse üldine stabiliseerumine. Pärnu Riverside Development Jätkatakse Pärnus Suur-Jõe tn 48 oleva kinnisvara haldamist ja arendamist. Valminud on kinnistu detailplaneering, eesmärgiga muuta kinnistu sihtotstarve eraelamumaaks. FINANTSSUHTARVUD +--------------------------------------------------------------------+ | tuh EUR | +--------------------+------------+------------+----------+----------+ | Kasumiaruanne | IV kv 2024 | IV kv 2023 | 12k 2024 | 12k 2023 | +--------------------+------------+------------+----------+----------+ | Müügitulu | 1 514 | 1 312 | 7 592 | 7 704 | +--------------------+------------+------------+----------+----------+ | EBITDA | (276) | 245 | (25) | 579 | +--------------------+------------+------------+----------+----------+ | EBITDA rentaablus | (18%) | 19% | (0%) | 8% | +--------------------+------------+------------+----------+----------+ | Ärikasum/-kahjum | (408) | 122 | (547) | (316) | +--------------------+------------+------------+----------+----------+ | Ärirentaablus | (27%) | 9% | (7%) | (4%) | +--------------------+------------+------------+----------+----------+ | Puhaskasum/-kahjum | (427) | (115) | (786) | (682) | +--------------------+------------+------------+----------+----------+ | Puhasrentaablus | (28%) | (9%) | (10%) | (9%) | +--------------------+------------+------------+----------+----------+ +------------------------------------------+------------+------------+ | Bilanss | 31.12.2024 | 31.12.2023 | +------------------------------------------+------------+------------+ | Koguvarad | 8 252 | 8 505 | +------------------------------------------+------------+------------+ | Koguvarade puhasrentaablus | (10%) | (8%) | +------------------------------------------+------------+------------+ | Omakapital | 3 616 | 4 402 | +------------------------------------------+------------+------------+ | Omakapitali puhasrentaablus | (22%) | (16%) | +------------------------------------------+------------+------------+ | Võlakordaja | 56% | 48% | +------------------------------------------+------------+------------+ +------------------------------------------+------------+------------+ | Aktsia | 31.12.2024 | 31.12.2023 | +------------------------------------------+------------+------------+ | Aktsia viimane hind (EUR)* | 0.90 | 0.90 | +------------------------------------------+------------+------------+ | Puhaskasum aktsia kohta (EUR) | (0,17) | (0,15) | +------------------------------------------+------------+------------+ | Hind-tulu (PE) suhtarv | (5,15) | (5,93) | +------------------------------------------+------------+------------+ | Aktsia raamatupidamisväärtus (EUR) | 0,80 | 0,98 | +------------------------------------------+------------+------------+ | Turuhinna ja raamatupidamisväärtuse suhe | 1,12 | 0,92 | +------------------------------------------+------------+------------+ | Turukapitalisatsioon (tuh EUR) | 4 049 | 4 049 | +------------------------------------------+------------+------------+ | Aktsiate arv (tk) | 4 499 061 | 4 499 061 | +------------------------------------------+------------+------------+ KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE +---------------------------------------------+----------+----------+----------+ |tuh EUR |31.12.2024|31.12.2023|31.12.2022| +---------------------------------------------+----------+----------+----------+ |Raha ja raha ekvivalendid |53 |7 |2 | +---------------------------------------------+----------+----------+----------+ |Nõuded ja ettemaksed (Lisa 2) |571 |534 |559 | +---------------------------------------------+----------+----------+----------+ |Varud (Lisa 3) |624 |728 |1 672 | +---------------------------------------------+----------+----------+----------+ |Kokku käibevarad |1 248 |1 269 |2 233 | +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |Kinnisvarainvesteeringud (Lisa 4) |2 380 |2 269 |1 859 | +---------------------------------------------+----------+----------+----------+ |Finantsvarad õiglases väärtuses muutustega |499 |491 |644 | |läbi kasumiaruande (Lisa 7) | | | | +---------------------------------------------+----------+----------+----------+ |Materiaalne põhivara ja vara kasutusõigus |4 122 |4 475 |4 670 | |(Lisa 5) | | | | +---------------------------------------------+----------+----------+----------+ |Immateriaalne põhivara (Lisa 6) |3 |1 |2 | +---------------------------------------------+----------+----------+----------+ |Kokku põhivarad |7 004 |7 236 |7 175 | +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |KOKKU VARAD |8 252 |8 505 |9 408 | +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |Võlakohustised (Lisa 8) |1 111 |556 |290 | +---------------------------------------------+----------+----------+----------+ |Võlad ja ettemaksed (Lisa 9) |788 |756 |1 014 | +---------------------------------------------+----------+----------+----------+ |Lühiajalised eraldised (Lisa 10) |21 |21 |18 | +---------------------------------------------+----------+----------+----------+ |Kokku lühiajalised kohustised |1 920 |1 333 |1 322 | +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |Pikaajalised võlakohustised (Lisa 8) |2 613 |2 659 |2 875 | +---------------------------------------------+----------+----------+----------+ |Lühiajalised eraldised (Lisa 10) |94 |111 |127 | +---------------------------------------------+----------+----------+----------+ |Muud pikaajalised kohustised |9 |0 |0 | +---------------------------------------------+----------+----------+----------+ |Kokku pikaajalised kohustised |2 716 |2 770 |3 002 | +---------------------------------------------+----------+----------+----------+ |Kokku kohustised |4 636 |4 103 |4 324 | +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |Aktsiakapital (nominaalväärtuses) (Lisa 11) |450 |450 |450 | +---------------------------------------------+----------+----------+----------+ |Kohustuslik reservkapital |45 |45 |45 | +---------------------------------------------+----------+----------+----------+ |Jaotamata kasum |3 121 |3 907 |4 589 | +---------------------------------------------+----------+----------+----------+ |Kokku omakapital |3 616 |4 402 |5 084 | +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |KOKKU KOHUSTISED JA OMAKAPITAL |8 252 |8 505 |9 408 | +---------------------------------------------+----------+----------+----------+ KONSOLIDEERITD KASUMI- JA MUU KOONDARUANNE +--------------------------------------+----------+----------+--------+--------+ |tuh EUR |IV kv 2024|IV kv 2023|12k 2024|12k 2023| +--------------------------------------+----------+----------+--------+--------+ |Müügitulu (Lisa 13) |1 514 |1 312 |7 592 |7 704 | +--------------------------------------+----------+----------+--------+--------+ |Müüdud toodangu kulu (Lisa 14) |1 586 |1 313 |6 820 |6 810 | +--------------------------------------+----------+----------+--------+--------+ |Brutokasum (-kahjum) |(72) |(1) |772 |894 | +--------------------------------------+----------+----------+--------+--------+ | | | | | | +--------------------------------------+----------+----------+--------+--------+ |Turustuskulud (Lisa 15) |210 |137 |935 |673 | +--------------------------------------+----------+----------+--------+--------+ |Üldhalduskulud (Lisa 16) |120 |141 |381 |514 | +--------------------------------------+----------+----------+--------+--------+ |Muud äritulud (Lisa 18) |0 |404 |8 |404 | +--------------------------------------+----------+----------+--------+--------+ |Muud ärikulud (Lisa 18) |6 |3 |11 |427 | +--------------------------------------+----------+----------+--------+--------+ |Ärikasum (-kahjum) |(408) |122 |(547) |(316) | +--------------------------------------+----------+----------+--------+--------+ | | | | | | +--------------------------------------+----------+----------+--------+--------+ |Finantstulud (Lisa 19) |68 |0 |8 |0 | +--------------------------------------+----------+----------+--------+--------+ |Finantskulud (Lisa 19) |87 |237 |247 |366 | +--------------------------------------+----------+----------+--------+--------+ |KASUM (-KAHJUM) ENNE TULUMAKSUSTAMIST |(427) |(115) |(786) |(682) | +--------------------------------------+----------+----------+--------+--------+ | | | | | | +--------------------------------------+----------+----------+--------+--------+ |ARUANDEPERIOODI PUHASKASUM (-KAHJUM) |(427) |(115) |(786) |(682) | +--------------------------------------+----------+----------+--------+--------+ | | | | | | +--------------------------------------+----------+----------+--------+--------+ |Tava perioodi puhaskasum (-kahjum) |(0,09) |(0,03) |(0,17) |(0,15) | |aktsia kohta (Lisa 12) | | | | | +--------------------------------------+----------+----------+--------+--------+ |Lahustatud perioodi puhaskasum (- |(0,09) |(0,03) |(0,17) |(0,15) | |kahjum) aktsia kohta (Lisa 12) | | | | | +--------------------------------------+----------+----------+--------+--------+ KONSOLIDEERITUD RAHAVOOGUDE ARUANNE +--------------------------------------------------------+--------+--------+ |tuh EUR |12k 2024|12k 2023| +--------------------------------------------------------+--------+--------+ |Äritegevuse rahavood | | | +--------------------------------------------------------+--------+--------+ |Ärikasum (-kahjum) |(547) |(316) | +--------------------------------------------------------+--------+--------+ |Korrigeerimised: | | | +--------------------------------------------------------+--------+--------+ |Kulum (Lisa 5; 6) |522 |489 | +--------------------------------------------------------+--------+--------+ |Kasum kinnisvarainvesteeringu ümberhindlusest (Lisa 4) |0 |(404) | +--------------------------------------------------------+--------+--------+ |Nõuete ja ettemaksete muutus (Lisa 2) |(37) |25 | +--------------------------------------------------------+--------+--------+ |Varude muutus (Lisa 3) |103 |944 | +--------------------------------------------------------+--------+--------+ |Äritegevusega seotud kohustiste muutus (Lisa 9) |32 |(258) | +--------------------------------------------------------+--------+--------+ |Äritegevusega genereeritud rahavood |73 |480 | +--------------------------------------------------------+--------+--------+ |Intressimaksed (Lisa 8; 19) |(202) |(181) | +--------------------------------------------------------+--------+--------+ |Muud finantstulud ja -kulud |(45) |(33) | +--------------------------------------------------------+--------+--------+ |Äritegevuse rahavood kokku |(174) |266 | +--------------------------------------------------------+--------+--------+ | | | | +--------------------------------------------------------+--------+--------+ |Investeerimistegevuse rahavood | | | +--------------------------------------------------------+--------+--------+ |Materiaalse ja immateriaalse põhivara soetus (Lisa 5; 6)|(178) |(251) | +--------------------------------------------------------+--------+--------+ |Kinnisvarainvesteeringu soetus (Lisa 4) |(111) |(6) | +--------------------------------------------------------+--------+--------+ |Investeerimistegevuse rahavood kokku |(289) |(257) | +--------------------------------------------------------+--------+--------+ | | | | +--------------------------------------------------------+--------+--------+ |Finantseerimistegevuse rahavood | | | +--------------------------------------------------------+--------+--------+ |Saadud laenude tagasimaksed (Lisa 8) |(210) |(408) | +--------------------------------------------------------+--------+--------+ |Saadud laenud seotud osapooltelt (Lisa 8) |400 |200 | +--------------------------------------------------------+--------+--------+ |Rendikohustiste põhiosa tagasimaksed (Lisa 8) |(23) |(50) | +--------------------------------------------------------+--------+--------+ |Arvelduskrediidi muutus (Lisa 8) |342 |254 | +--------------------------------------------------------+--------+--------+ |Finantseerimistegevuse rahavood kokku |509 |(4) | +--------------------------------------------------------+--------+--------+ | | | | +--------------------------------------------------------+--------+--------+ |RAHA JA RAHA EKVIVALENTIDE MUUTUS |46 |5 | +--------------------------------------------------------+--------+--------+ |RAHA JA RAHA EKVIVALENTID PERIOODI ALGUSES |7 |2 | +--------------------------------------------------------+--------+--------+ |RAHA JA RAHA EKVIVALENTID PERIOODI LÕPUS |53 |7 | +--------------------------------------------------------+--------+--------+ Enel Äkke Juhatuse liige +372 55525550 [email protected] (https://www.globenewswire.com/Tracker?data=2jzZ74TB851ulMlKPU8znRDv6kKH39qukZ2- OnLHKS3yLf7hfX9J9ieVANXcEk8ppkPmpxN_ZvhxMlpz6ZBBzdo- BKpmcvvgmseuURKj7PoBBYCtWO77Sdcc0wXZ0L-GtzBAHZ- m9qmcJvpYD2C0UGVYuTMAvbTXrCIQ7QYdHd6_cANVxA8_0roM93ujHiNFC7mZNT79EsX1HlE9HDZPMmc QhuogvDtIr5ankWluwPKDbBz5iQoc5QnQNo4ybQ742md_Ea2nEmSdG6t0uJklgrGj2ldWZH5IbGRjSq4 Z-SomIC-ea_DIQlAmOtzQKG3I3Qqwfzub1Xzy6MsLaJT9OVHxgHzQBLExtEYJ66P- YlXxTRPMA2UzF2e9rsAgExqQHWr38UkK0qPchjsU68On2Oj6vsQAjtsCJl7acShGSsTqvGDFduUNPaDK NAM49hk342J3GINNPxTRoWikUzrLV_mh4VZHUUnkLchO6lE2XS7tRJtZCP5Xr8DxQTFsVN71DT8mpRba a4-v0HJMtLiCI9WhxtIiRFnURV5QcgcMTbqdSpXEvQBEmOeitag4wpVtTGN5jf3E6i5Um_13PMnio9- JrqViQkqwm8pBxPyihvjdfStNnoRreSP8TDwIR- MNkbIr0xIJBEhzdC5X_cfV9L5B_dWGJGmnQWcTEw4H6I-1ROyLjRR6VAO- HwqEVDNoINbdUqmIIbXFnmwHPMlflGpDvnCItLD_I3SbbjRo2tax_PtVJZQmYRvjZ6fIpUuxuFjkVi7T Okdjvdgyo0UkvI3AVXAQWvLqHBhJVkfESePTS-N8wafkPwajxjIfpkKPy6WLucTHMi- bmUHiiyEYfg==)
Content of announcement in English
Title
Nordic Fibreboard AS unaudited financial report for the Q4 and 12 months of 2024
Message
MANAGEMENT REPORT Consolidated net sales for Q4 2024 were EUR 1.51 million, which was a 15% increase compared to the same period last year (Q4 2023: EUR 1.31 million). The main business area is Nordic Fibreboard Ltd, the production and wholesale of fibreboard, which accounted for the majority of the Group`s revenue in Q4 2024. The second segment is the management of the real estate on Suur-Jõe street in Pärnu, the share of sales revenue of which is 0.10% on total sales in the 4th quarter of 2024 (0.95% in Q4 2023). Sales revenue in 2024 Q4 increased by EUR 212 thousand compared to the Q4 2023. Sales volume from Scandinavian construction sector declined compared to the Q4 2023, while orders from industrial clients have shown an growth trend. An unexpected force majeure situation forced the factory to temporarily close in December, resulting in a production stoppage for the entire month. This affected production and sales volumes in December and had a negative impact on the quarterly result. Pärnu Riverside Development OÜ's real estate management revenue on the Suur-Jõe street property decreased in Q4 2024 compared to the Q4 2023. The decrease in sales revenue was due to the termination of rental agreements in August 2024. The rental agreements were terminated due to the specific characteristics of the production building complex, which caused high communal costs that could not be covered by rental income. The consolidated EBITDA of Nordic Fibreboard for Q4 2024 was negative EUR 276 thousand, the EBITDA margin was negative 18% (Q4 2023: EBITDA was positive EUR 245 thousand, and the EBITDA margin was positive 19%). Compared to the Q4 2023 the Group`s gross margin decreased from 9% to 4% in the Q4 2024, which indicates that the Group`s profitability in the Q4 2024 has decreased compared to the same period last year. The large decrease in EBITDA in the Q4 2024 compared to the same period last year was mainly due to the revaluations of investment properties in Pärnu Riverside Development OÜ and Nordic Fibreboard Ltd OÜ at the end of 2023, where the Group received a one-time income of EUR 404 thousand from the revaluation of investment properties. In the 2024, the fair value of real investment properties did not change. In addition, EBITDA was negatively impacted by the forced shutdown of the factory due to force majeure situation in December. During the shutdown, personnel costs, factory maintenance costs and repair costs continued to be covered, which had a negative effect on EBITDA. The financial income for Q4 2024 was EUR 68 thousand, consisting of the revaluation of Trigon Property Development (TPD) shares (Q4 2023: EUR 0). Financial expenses for the Q4 2024 amounted to EUR 87 thousand, consisting of loan interest costs (Q4 2023: EUR 237 thousand, of which EUR 184 thousand was a loss on the revaluation of TPD shares and EUR 54 thousand was interest costs on loans. Group`s consolidated net loss for Q4 2024 was EUR 427 thousand (Q4 2023: net loss EUR 115 thousand). Divisional review Revenue by business segments +----------------------------------+---------+---------+----------+----------+ | EUR thousand | Q4 2024 | Q4 2023 | 12M 2024 | 12M 2023 | +----------------------------------+---------+---------+----------+----------+ | Fibreboards production and sales | 1,512 | 1,300 | 7,567 | 7,657 | +----------------------------------+---------+---------+----------+----------+ | Real Estate Management | 2 | 12 | 25 | 47 | +----------------------------------+---------+---------+----------+----------+ | TOTAL | 1,514 | 1,312 | 7,592 | 7,704 | +----------------------------------+---------+---------+----------+----------+ Profit by business segments +--------------------------------------+-------+-------+--------+--------+ |EUR thousand |Q4 2024|Q4 2023|12M 2024|12M 2023| +--------------------------------------+-------+-------+--------+--------+ |EBITDA by business units: | | | | | +--------------------------------------+-------+-------+--------+--------+ |Fibreboards production and sales | (245)| 127| 26| 510| +--------------------------------------+-------+-------+--------+--------+ |Real Estate Management | (27)| 132| (48)| 113| +--------------------------------------+-------+-------+--------+--------+ |Group transactions | (4)| (14)| (3)| (44)| +--------------------------------------+-------+-------+--------+--------+ |TOTAL EBITDA | (276)| 245| (25)| 579| +--------------------------------------+-------+-------+--------+--------+ |Extraordinary other operating expenses| 0| 0| 0| (406)| +--------------------------------------+-------+-------+--------+--------+ |Deprecation | (132)| (123)| (522)| (489)| +--------------------------------------+-------+-------+--------+--------+ |TOTAL OPERATING PROFIT/LOSS | (408)| 122| (547)| (316)| +--------------------------------------+-------+-------+--------+--------+ |Net financial cost | (19)| (237)| (239)| (366)| +--------------------------------------+-------+-------+--------+--------+ |NET PROFIT/LOSS | (427)| (115)| (786)| (682)| +--------------------------------------+-------+-------+--------+--------+ Nordic Fibreboard Ltd: Fibreboard production and sales Fibreboard sales in Q4 2024 were EUR 1.51 million (Q4 2023: EUR 1.30 million). The sales result was primarily influenced by industrial customers, whose order volume increased by EUR 84 thousand, reaching EUR 320 thousand (Q4 2023: EUR 236 thousand). Construction related customers globally ordered products for a total of EUR 1.13 million, which is EUR 156 thousand more than Q4 2023. The sales volume of the largest foreign market, Finland, was EUR 318 thousand, which is EUR 42 thousand less than in Q4 2023. The Baltic markets have made a surprising increase, where sales increased by EUR 155 thousand compared to the same period last year, reaching EUR 585 thousand (Q4 2023: EUR 430 thousand). The sales volumes of the remaining markets have also increased to some extent, with customers located outside Europe showing the highest growth rate. The EBITDA of the fibreboard segment for the Q4 2024 was a negative EUR 245 thousand, (Q4 2023: positive EUR 127 thousand). The net loss of the fibreboard segment for the Q4 2024 was EUR 390 thousand (Q4 2023: net loss EUR 199 thousand). The negative EBITDA in Q4 2024 compared to the same period last year was mainly due to the forced shutdown of the factory due to force majeure in December. During the shutdown, personnel costs, factory maintenance costs and repair costs continued to be covered, which negatively affected the EBITDA result. Fibreboard sales by geographical segments +----------------+-------------------+---------------------+ | | EUR thousand | EUR thousand | +----------------+---------+---------+----------+----------+ | Region | Q4 2024 | Q4 2023 | 12M 2024 | 12M 2023 | +----------------+---------+---------+----------+----------+ | European Union | 1,310 | 1,120 | 6,896 | 6,974 | +----------------+---------+---------+----------+----------+ | Asia | 111 | 11 | 212 | 114 | +----------------+---------+---------+----------+----------+ | Africa | 49 | 64 | 305 | 197 | +----------------+---------+---------+----------+----------+ | Middle East | 41 | 41 | 139 | 137 | +----------------+---------+---------+----------+----------+ | Other regions | 1 | 64 | 15 | 235 | +----------------+---------+---------+----------+----------+ | TOTAL | 1,512 | 1,300 | 7,567 | 7,657 | +----------------+---------+---------+----------+----------+ Pärnu Riverside Development: Real estate management Pärnu Riverside Development owns property located at Suur-Jõe 48 in Pärnu. Rental income from property management was EUR 2 thousand in Q4 2024, (Q4 2023: EUR 12 thousand). Pärnu Riverside Development OÜ property management revenue from the Suur-Jõe Street property decreased in the Q4 2024 compared to the Q4 2023 due to the termination of rental agreements in the second half of 2024. The decision to terminate the rental agreements was due to the specific characteristics of the production building complex, which caused high communal costs, and which could not be covered by rental income. The real estate management EBITDA for Q4 2024 were negative EUR 27 thousand and net loss was EUR 33 thousand (Q4 2023: EBITDA was positive EUR 132 thousand and net loss EUR 129 thousand). The positive EBITDA and net profit for Q4 2023 were affected by the revaluation of the fair value of the investment property at the end of 2023, the value of the property did not change in the fair value of the investment property as at the end of 2024. Outlook Nordic Fibreboard Ltd Sales figures for Q4 2024 indicated moderate growth, but 2025 expected to be challenging, especially for the construction sector. The largest foreign market, Finland, which accounts for over 30% of total sales, continues to be in a difficult economic situation. As the construction sector in other European countries is not expected to recover quickly in the near future, the company is shifting our focus to new markets and industry sectors to ensure sustainable growth. Increasing sales volumes remains the Company's top priority in 2025. The marketing activities and new brand image initiated in 2024 will help to strengthen the Company market position and make the Company's external image more modern. The Company continues to actively develop products to expand and update its product range, providing solutions for both the construction and industrial sectors. The growing interest in Nordic Fibreboard products, the increased number of price inquiries and the commitment to sales and marketing activities give the Company reason to enter 2025 with cautious optimism. Despite the challenging economic environment, Nordic Fibreboard has been forward-looking and plan to renew and improve its digital solutions and invest in the modernization of the factory's energy solutions. The focusing is also on planning factory upgrades to ensure high-quality production and modern technical solutions. For a Company, employees are one of the most valuable assets. The Company has attracted top specialists to the team and intend to continue doing so to support the company's growth and development in the desired direction. Like many businesses, believes Nordic Fibreboard that the deepest point of the economic downturn has passed and that a gradual recovery will begin in 2025. This positive outlook is supported by the continued decline in interest rates and the overall stabilization of the economy. 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 private residential property. FINANCIAL HIGHLIGHTS +------------------------------------------------------------+ | EUR thousand | +------------------+---------+---------+----------+----------+ | Income statement | Q4 2024 | Q4 2023 | 12M 2024 | 12M 2023 | +------------------+---------+---------+----------+----------+ | Revenue | 1 514 | 1 312 | 7 592 | 7 704 | +------------------+---------+---------+----------+----------+ | EBITDA | (276) | 245 | (25) | 579 | +------------------+---------+---------+----------+----------+ | EBITDA margin | (18%) | 19% | (0%) | 8% | +------------------+---------+---------+----------+----------+ | Operating profit | (408) | 122 | (547) | (316) | +------------------+---------+---------+----------+----------+ | Operating margin | (27%) | 9% | (7%) | (4%) | +------------------+---------+---------+----------+----------+ | Net profit/-loss | (427) | (115) | (786) | (682) | +------------------+---------+---------+----------+----------+ | Net margin | (28%) | (9%) | (10%) | (9%) | +------------------+---------+---------+----------+----------+ +---------------------------------+------------+------------+ | Statement of financial position | 31.12.2024 | 31.12.2023 | +---------------------------------+------------+------------+ | Total assets | 8,252 | 8,505 | +---------------------------------+------------+------------+ | Return on assets | (10%) | (8%) | +---------------------------------+------------+------------+ | Equity | 3,616 | 4,402 | +---------------------------------+------------+------------+ | Return on equity | (22%) | (16%) | +---------------------------------+------------+------------+ | Debt-to-equity-ratio | 56% | 48% | +---------------------------------+------------+------------+ +---------------------------------+------------+------------+ | Share | 31.12.2024 | 31.12.2023 | +---------------------------------+------------+------------+ | Last price (EUR)* | 0.90 | 0.90 | +---------------------------------+------------+------------+ | Earnings per share (EUR) | (0.17) | (0.15) | +---------------------------------+------------+------------+ | Price-earnings ratio | (5.15) | (5.93) | +---------------------------------+------------+------------+ | Book value of a share (EUR) | 0.80 | 0.98 | +---------------------------------+------------+------------+ | Market to book ratio | 1.12 | 0.92 | +---------------------------------+------------+------------+ | Market capitalization, (tuh EUR) | 4,049 | 4,049 | +---------------------------------+------------+------------+ | Number of shares (piece) | 4,499,061 | 4,499,061 | +---------------------------------+------------+------------+ CONSOLIDATED INTERIM FINANCIAL STATEMENTS CONSOLIDATED STATEMENTS OF FINANCIAL POSITIONS +---------------------------------------------+----------+----------+----------+ |EUR thousand |31.12.2024|31.12.2023|31.12.2022| +---------------------------------------------+----------+----------+----------+ |Cash and cash equivalents | 53| 7| 2| +---------------------------------------------+----------+----------+----------+ |Receivables and prepayments (Note 2) | 571| 534| 559| +---------------------------------------------+----------+----------+----------+ |Inventories (Note 3) | 624| 728| 1,672| +---------------------------------------------+----------+----------+----------+ |Total current assets | 1,248| 1,269| 2,233| +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |Investment property (Note 4) | 2,380| 2,269| 1,859| +---------------------------------------------+----------+----------+----------+ |Financial assets at fair value through profit| | | | |or loss (Note 7) | 499| 491| 644| +---------------------------------------------+----------+----------+----------+ |Property, plant, equipment and right-of use | | | | |assets (Note 5) | 4,122| 4,475| 4,670| +---------------------------------------------+----------+----------+----------+ |Intangible assets (Note 6) | 3| 1| 2| +---------------------------------------------+----------+----------+----------+ |Total non-current assets | 7,004| 7,236| 7,175| +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |TOTAL ASSETS | 8,252| 8,505| 9,408| +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |Borrowings (Note 8) | 1,111| 556| 290| +---------------------------------------------+----------+----------+----------+ |Payables and prepayments (Note 9) | 788| 756| 1,014| +---------------------------------------------+----------+----------+----------+ |Short-term provisions (Note 10) | 21| 21| 18| +---------------------------------------------+----------+----------+----------+ |Total current liabilities | 1,920| 1,333| 1,322| +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |Long-term borrowings (Note 8) | 2,613| 2,659| 2,875| +---------------------------------------------+----------+----------+----------+ |Long-term provisions (Note 10) | 94| 111| 127| +---------------------------------------------+----------+----------+----------+ |Other long-term liabilities | 9| 0| 0| +---------------------------------------------+----------+----------+----------+ |Total non-current liabilities | 2,716| 2,770| 3,002| +---------------------------------------------+----------+----------+----------+ |Total liabilities | 4,636| 4,103| 4,324| +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |Share capital (at nominal value) (Note 11) | 450| 450| 450| +---------------------------------------------+----------+----------+----------+ |Statutory reserve capital | 45| 45| 45| +---------------------------------------------+----------+----------+----------+ |Retained earnings (loss) | 3,121| 3,907| 4,589| +---------------------------------------------+----------+----------+----------+ |Total equity | 3,616| 4,402| 5,084| +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |TOTAL LIABILITIES AND EQUITY | 8,252| 8,505| 9,408| +---------------------------------------------+----------+----------+----------+ CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME +------------------------------------+-------+-------+--------+--------+ |EUR thousand |Q4 2024|Q4 2023|12M 2024|12M 2023| +------------------------------------+-------+-------+--------+--------+ |Revenue (Note 13) | 1,514| 1,312| 7,592| 7,704| +------------------------------------+-------+-------+--------+--------+ |Cost of goods sold (Note 14) | 1,586| 1,313| 6,820| 6,810| +------------------------------------+-------+-------+--------+--------+ |Gross profit (loss) | (72)| (1)| 772| 894| +------------------------------------+-------+-------+--------+--------+ | | | | | | +------------------------------------+-------+-------+--------+--------+ |Distribution costs (Note 15) | 210| 137| 935| 673| +------------------------------------+-------+-------+--------+--------+ |Administrative expenses (Note 16) | 120| 141| 381| 514| +------------------------------------+-------+-------+--------+--------+ |Other operating income (Note 18) | 0| 404| 8| 404| +------------------------------------+-------+-------+--------+--------+ |Other operating expenses (Note 18) | 6| 3| 11| 427| +------------------------------------+-------+-------+--------+--------+ |Operating profit (loss) | (408)| 122| (547)| (316)| +------------------------------------+-------+-------+--------+--------+ | | | | | | +------------------------------------+-------+-------+--------+--------+ |Finance income (Note 19) | 68| 0| 8| 0| +------------------------------------+-------+-------+--------+--------+ |Finance costs (Note 19) | 87| 237| 247| 366| +------------------------------------+-------+-------+--------+--------+ |PROFIT (LOSS) BEFORE INCOME TAX | (427)| (115)| (786)| (682)| +------------------------------------+-------+-------+--------+--------+ | | | | | | +------------------------------------+-------+-------+--------+--------+ |NET PROFIT (LOSS) FOR THE PERIOD | (427)| (115)| (786)| (682)| +------------------------------------+-------+-------+--------+--------+ | | | | | | +------------------------------------+-------+-------+--------+--------+ |Basic earnings per share (Note 12) | (0.09)| (0.03)| (0.17)| (0.15)| +------------------------------------+-------+-------+--------+--------+ |Diluted earnings per share (Note 12)| (0.09)| (0.03)| (0.17)| (0.15)| +------------------------------------+-------+-------+--------+--------+ CONSOLIDATED STATEMENT OF CASH FLOWS +------------------------------------------------------------+--------+--------+ |EUR thousand |12M 2024|12M 2023| +------------------------------------------------------------+--------+--------+ |Cash flow from operating activities | | | +------------------------------------------------------------+--------+--------+ |Operating profit (-loss) | (547)| (316)| +------------------------------------------------------------+--------+--------+ |Adjustments: | | | +------------------------------------------------------------+--------+--------+ |Depreciation charge (Note 5; 6) | 522| 489| +------------------------------------------------------------+--------+--------+ |Profit from revaluation of real estate investment (Note 4) | 0| (404)| +------------------------------------------------------------+--------+--------+ |Change in trade and other receivables (Note 2) | (37)| 25| +------------------------------------------------------------+--------+--------+ |Change in inventories (Note 3) | 103| 944| +------------------------------------------------------------+--------+--------+ |Change in trade and other payables (Note 9) | 32| (258)| +------------------------------------------------------------+--------+--------+ |Cash generated from operations | 73| 480| +------------------------------------------------------------+--------+--------+ |Interest payments (Note 8; 19) | (202)| (181)| +------------------------------------------------------------+--------+--------+ |Net other financial income and expense | (45)| (33)| +------------------------------------------------------------+--------+--------+ |Net cash generated from operating activities | (174)| 266| +------------------------------------------------------------+--------+--------+ | | | | +------------------------------------------------------------+--------+--------+ |Cash flow from investing activities | | | +------------------------------------------------------------+--------+--------+ |Purchase of property, plant and equipment and intangible | | | |assets (Note 5; 6) | (178)| (251)| +------------------------------------------------------------+--------+--------+ |Purchase of real estate investment (Note 4) | (111)| (6)| +------------------------------------------------------------+--------+--------+ |Net cash used in investing activities | (289)| (257)| +------------------------------------------------------------+--------+--------+ | | | | +------------------------------------------------------------+--------+--------+ |Cash flow from financing activities | | | +------------------------------------------------------------+--------+--------+ |Repayment of loans received (Note 8) | (210)| (408)| +------------------------------------------------------------+--------+--------+ |Loans received from related parties (Note 8) | 400| 200| +------------------------------------------------------------+--------+--------+ |Finance lease payments (Note 8) | (23)| (50)| +------------------------------------------------------------+--------+--------+ |Change in overdraft (Note 8) | 342| 254| +------------------------------------------------------------+--------+--------+ |Net cash (used in)/from financing activities | 509| (4)| +------------------------------------------------------------+--------+--------+ | | | | +------------------------------------------------------------+--------+--------+ |NET CHANGE IN CASH | 46| 5| +------------------------------------------------------------+--------+--------+ |OPENING BALANCE OF CASH | 7| 2| +------------------------------------------------------------+--------+--------+ |CLOSING BALANCE OF CASH | 53| 7| +------------------------------------------------------------+--------+--------+ Enel Äkke Member of Management Board +372 55525550 [email protected]