Market announcement
TKM Grupp AS
Category
Management interim statement or quarterly financial report
Attachments
Date
17.11.2008 15:00:00
Title
2008. AASTA ESIMESE ÜHEKSA KUU AUDITEERIMATA MAJANDUSTULEMUSED
Message
Tallinna Kaubamaja kontserni 2008. aasta esimese üheksa kuu konsolideeritud auditeerimata müügitulu oli 4,7 miljardit krooni (301,4 miljonit eurot). Kontserni 2007. aasta esimese üheksa kuu müügitulu oli 4,2 miljardit krooni (267,2 miljonit eurot). Käibe kasv oli 13%. Puhaskasum oli võrreldes eelmise aasta esimese kolme kvartaliga 46% madalam ulatudes 151,7 miljoni kroonini (9,7 miljoni euroni), mis on 128,6 miljonit krooni (8,2 miljonit eurot) vähem kui 2007. aasta samas perioodis, mil puhaskasum oli 280,3 miljonit krooni (17,9 miljonit eurot). Esimesel poolaastal kasumi kasvu pidurdanud tegurite mõju jätkus III kvartalis. Esimese üheksa kuu opereerimiskuludes kajastub 19 miljonit krooni (1,2 miljonit eurot) arenduskulusid, mida ei kapitaliseerita. 2007. aasta võrreldavad kulud olid 11,6 miljonit krooni (0,7 miljonit eurot). Olulist mõju avaldasid täielikult või osaliselt ümberehitustöödeks suletud Selveri kaupluste jätkuvad opereerimiskulud ning esimesel üheksal kuul avamiseks ette valmistatud kaheksa uue Selveri kaupluse avamiseelsed kulud. Kolmandas kvartalis oli märgata survet kasumile jaekaubandusmahtude kasvu järsust pidurdumisest. Muudeks teguriteks kasumi vähenemisel oli kommunaal- ja tööjõukulude ootuspäraselt kiire kasv, 2007. aasta lõpus läbi viidud põhivara ümberhindlusest tingitud kulumi kasv ning kontserni poolt eelmiste majandusaastate tulemuste põhjal väljamakstud dividendide tulumaksukulu summas 21,7 miljonit krooni (1,4 miljonit eurot, 2007: 11,5 miljonit krooni, 0,7 miljonit eurot). Tallinna Kaubamaja kontserni bilansimaht 30. septembril 2008 oli 4,3 miljardit krooni (271,6miljonit eurot), kasvades võrreldes 2007. aasta esimese aasta kolmanda kvartali lõpu seisuga 1,4 miljardit krooni (88,6 miljonit eurot). Varade ning omakapitali kasv oli 2008. aasta esimesel üheksal kuul vastavalt 28% ja 4%. Kaubamajade ärisegmendi 2008. aasta esimese üheksa kuu müügitulu oli 1 098,6 miljonit krooni (70,2 miljonit eurot), kasvades eelmise aasta esimese 9 kuuga võrreldes 4%, vaatamata tööstuskaupade jaemüügi vähenemisele Eestis tervikuna. Kaubamajade puhaskasum 2008. aasta esimesel üheksal kuul oli 85,9 miljonit krooni (5,5 miljonit eurot), jäädes aasta tagusele saavutusele alla 10,1 miljonit krooni (0,6 miljonit eurot). Kaubamaja kasumit on negatiivselt mõjutanud sarnaselt poolaasta tulemusega laienemiseks kasutatud finantseerimisekulude ja kommunaalkulude kasv. 2007. aasta sügisel asutatud tütarettevõte OÜ TKM Beauty jätkas ettevalmistavaid tegevusi uue I.L.U. kaubamärgi all tegutseva ilupoodide keti käivitamiseks. Kaupluste avamine sõltub eelkõige kaubanduskeskuste käivitamise ajagraafikutest. Esimese kaupluse avamine 2008. aasta hilissügisel Pärnus lükkub edasi seoses arendaja poolse viivitusega ja realiseerub alles 2009. aasta kevadel. Allkirjastatud on rendileping keskuse arendajatega Tartus. Tallinnas jäävad kaupluste avamised Rocca al Mare Kaubanduskeskuses ja Kristiine keskuses 2009. aasta II poolaastasse. Esimene kauplus Lätis on planeeritud avada 2010. aastal. Selveri 2008. aasta 9 kuu netokäive oli 3,0 miljardit krooni (194,7 miljonit eurot), mis on 14% enam kui eelmise aasta samal perioodil. Selveri eelmise aasta võrreldava perioodi käive oli 2,7 miljardit krooni (171,2 miljonit eurot. Selveri maksueelne 9 kuu puhaskasum oli 2008. aastal 73,7 miljonit krooni (4,7 miljonit eurot), mis on 82,5 miljonit krooni (5,3 miljonit eurot) vähem kui 2007. aasta samal perioodil. Puhaskasumile avaldasid negatiivset mõju ulatuslikud ümberehitustööd, mille tõttu olid klientidele suletud Pirita ja Anne Selver poolteist kuud ning Krooni Selver kaks nädalat. Järve Selveris kestsid ümberehitustööd neli kuud, mille tulemusena oli müügitegevus häiritud. Käesoleval aastal avati 7 uut kauplust: veebruaris Narvas, märtsis Kohtla-Järvel, mais Hiiumaal, juunis Tallinnas Mustamäel, juulis Põlvas ja Pärnus ning augustis Paides. Kokku lisandus uute kaupluste ja olemasolevate kaupluste juurdeehituste tulemusena 18 437 m2 müügipinda. Samuti mõjutasid puhaskasumit sellel aastal avatud 7 uue kaupluse ning Läti tütarettevõtte käivitamiskulud. Kinnisvarade ärisegmendi 2008. aasta esimese 9 kuu müügitulu oli 89,9 miljonit krooni (5,7 miljonit eurot) ning võrreldes 2007. aasta sama perioodiga suurenes müügitulu 23%. Kinnisvarade ärisegmendi 2008. aasta esimese 9 kuu müügitulu ilma segmentide vahelise müügita oli 30,3 miljonit krooni (1,9 miljonit eurot), kasvades eelmise aasta sama perioodiga võrreldes 1%. Üheksa kuu puhaskasum oli 22,3 miljonit krooni (1,4 miljonit eurot) kahanedes võrreldes eelneva aastaga 8,7 miljonit krooni ehk 28%. Puhaskasumi kahanemine tuleneb finantskulude ja põhivara kulumi kasvust. Autokaubanduse ärisegmendi 2008. aasta 9 kuu müügitulu oli 437,0 miljonit krooni (27,9 miljonit eurot). Üheksa kuuga müüdi 1 719 uut sõidukit, mis on 113 sõidukit rohkem kui aasta varem samal perioodil. KIA sõiduauto turuosa Baltikumis on 3,3%, kasvades võrreldes eelmise aasta sama perioodiga 23%. Autokaubanduse 9 kuu kahjum ulatus 2,4 miljoni kroonini (-0,2 miljoni euroni), 2007. aasta üheksa kuuga saavutati kasum 8,5 miljonit krooni (0,54 miljonit eurot). Turuosa suurenemisele on lõivu makstud marginaalide languse ning reklaamikulude kasvuga. 2007. aasta lõpus Läti sealse autoturu suure kahanemisega kokku langenud KIA Auto AS tütarfirma SIA KIA Automobiles asutamine ja turule sisenemine ning sellega seotud kulude kasv on toonud kaasa esimesel 9 kuul oodatust kesisemad kasuminumbrid. KIA saavutatud turuosa lubab edaspidi loota paremat majandustulemust. Alates 1. aprillist 2008 Tallinna Kaubamaja kontserni kuuluvate Suurtüki NK OÜ ja Suurtuki NK SIA käibe osa 9 kuu kontserni käibes oli 51,9 miljonit krooni (3,3 miljonit eurot). Tänaseks on Suurtüki jalatsiäril Eestis ja Lätis kokku 20 kauplust, kontserni kuulumise ajal on avatud 2 uut kauplust. Selle aasta neljandas kvartalis suletakse Väike-Karja kauplus Tallinnas. Kontserni kuulumise ajal on ettevõte teeninud kahjumit 6,3 miljonit krooni (0,4 miljonit eurot). Tulemust on mõjutanud uute kaupluste avamised ja aastate jooksul kumulatiivselt kasvanud vanad kaubavarud, mida on realiseeritud suurte allahindlustega suvehooaja lõpus ja lõpumüügil Väike-Karja kaupluses. 30. juunil 2008 soetas Tallinna Kaubamaja kontsern ettevõte ABC King AS koos tema tütarettevõttega ABC King SIA ja OÜ ABC Saare kingakauplustega. Ettevõttele kuulus kolmanda kvartali lõpuks Eestis ja Lätis kokku 16 kauplust. ABC King ettevõtete käibe osa kontsernis on 50,5 miljonit krooni (3,2 miljonit eurot) ja kasum 1,0 miljonit krooni (0,6 miljonit eurot). Kasumit on oluliselt mõjutanud avamiskulutused uutesse kauplustesse Tasku Keskuses Tartus ja Põhjakeskuses Rakveres ning oktoobris avatavasse Auriga Keskusesse Saaremaal. Alustatud on jalatsikaupluste kontseptsioonide moderniseerimise ning brändiuuendustega; tähtajaks on seatud 2009. aasta teine pool. Samuti on alustatud eeltöid ja tehtud investeeringuid kingaäride koondamiseks ühe katuse alla uues kontori- ja laohoones Tallinnas, eesmärgiga parandada juhtimist, leida sünergiat kingaäride efektiivsuse tõstmiseks, kulude kokkuhoiuks ja tulemuste parandamiseks järgmistel hooaegadel. KONSOLIDEERITUD BILANSS tuhandetes kroonides/eurodes -------------------------------------------------------------------------------- | | 30. september 2008 | 31. detsember 2007 | -------------------------------------------------------------------------------- | | EEK | EUR* | EEK | EUR* | -------------------------------------------------------------------------------- | VARAD | | | | | -------------------------------------------------------------------------------- | Käibevara | | | | | -------------------------------------------------------------------------------- | Raha ja | 45 201 | 2 889 | 282 635 | 18 064 | | pangakontod | | | | | -------------------------------------------------------------------------------- | Nõuded ostjate | 77 342 | 4 943 | 50 966 | 3 257 | | vastu | | | | | -------------------------------------------------------------------------------- | Muud nõuded | 27 900 | 1 784 | 50 755 | 3 244 | -------------------------------------------------------------------------------- | Ettemakstud | 46 259 | 2 956 | 20 133 | 1 287 | | tulevaste | | | | | | perioodide kulud | | | | | -------------------------------------------------------------------------------- | Varud | 873 986 | 55 858 | 519 630 | 33 209 | -------------------------------------------------------------------------------- | Käibevara kokku | 1 070 688 | 68 430 | 924 119 | 59 061 | -------------------------------------------------------------------------------- | Põhivara | | | | | -------------------------------------------------------------------------------- | Tulevaste | 36 931 | 2 360 | 37 291 | 2 383 | | perioodide | | | | | | ettemakstud | | | | | | kulud | | | | | -------------------------------------------------------------------------------- | Sidusettevõtjate | 16 469 | 1 053 | 14 201 | 908 | | aktsiad | | | | | -------------------------------------------------------------------------------- | Muud | 2 828 | 181 | 2 828 | 181 | | pikaajalised | | | | | | nõuded | | | | | -------------------------------------------------------------------------------- | Materiaalne | 2 930 797 | 187 312 | 2 300 878 | 147 053 | | põhivara | | | | | -------------------------------------------------------------------------------- | Immateriaalne | 69 852 | 4 464 | 0 | 0 | | põhivara | | | | | -------------------------------------------------------------------------------- | Firmaväärtus | 121 783 | 7 783 | 49 388 | 3 156 | | (goodwill) | | | | | -------------------------------------------------------------------------------- | Immateriaalne | 191 635 | 7 783 | 49 388 | 3 156 | | põhivara kokku | | | | | -------------------------------------------------------------------------------- | Põhivara kokku | 3 178 660 | 203 153 | 2 404 586 | 153 681 | -------------------------------------------------------------------------------- | VARAD KOKKU | 4 249 348 | 271 583 | 3 328 705 | 212 742 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | KOHUSTUSED JA | | | | | | OMAKAPITAL | | | | | -------------------------------------------------------------------------------- | Lühiajalised | | | | | | kohustused | | | | | -------------------------------------------------------------------------------- | Võlakohustused | 225 513 | 14 413 | 120 626 | 7 709 | -------------------------------------------------------------------------------- | Ostjate | 7 926 | 507 | 11 673 | 745 | | ettemaksed | | | | | | kaupade ja | | | | | | teenuste eest | | | | | -------------------------------------------------------------------------------- | Võlad | 698 814 | 44 663 | 611 454 | 39 080 | | tarnijatele | | | | | -------------------------------------------------------------------------------- | Muud | 116 703 | 7 458 | 166 756 | 10 657 | | lühiajalised | | | | | | võlad | | | | | -------------------------------------------------------------------------------- | Lühiajalised | 1 048 956 | 67 041 | 910 509 | 58 191 | | kohustused kokku | | | | | -------------------------------------------------------------------------------- | Pikaajalised | | | | | | kohustused | | | | | -------------------------------------------------------------------------------- | Võlakohustused | 1 234 848 | 78 920 | 522 214 | 33 375 | -------------------------------------------------------------------------------- | Pikaajalised | 1 647 | 105 | 2 075 | 132 | | eraldised | | | | | -------------------------------------------------------------------------------- | Pikaajalised | 1 236 495 | 79 025 | 524 289 | 33 507 | | kohustused kokku | | | | | -------------------------------------------------------------------------------- | KOHUSTUSED KOKKU | 2 285 451 | 146 066 | 1 434 798 | 91 698 | -------------------------------------------------------------------------------- | Omakapital | | | | | -------------------------------------------------------------------------------- | Aktsiakapital | 407 292 | 26 031 | 407 292 | 26 031 | -------------------------------------------------------------------------------- | Kohustuslik | 40 729 | 2 603 | 40 729 | 2 603 | | reservkapital | | | | | -------------------------------------------------------------------------------- | Põhivara | 733 306 | 46 867 | 759 721 | 48 555 | | ümberhindluse | | | | | | reserv | | | | | -------------------------------------------------------------------------------- | Jaotamata kasum | 782 817 | 50 032 | 686 155 | 43 854 | -------------------------------------------------------------------------------- | Konverteerimiser | -247 | -16 | 10 | 1 | | inevused | | | | | -------------------------------------------------------------------------------- | OMAKAPITAL KOKKU | 1 963 897 | 125 517 | 1 893 907 | 121 044 | -------------------------------------------------------------------------------- | KOHUSTUSED JA | 4 249 348 | 271 583 | 3 328 705 | 212 742 | | OMAKAPITAL KOKKU | | | | | -------------------------------------------------------------------------------- KONSOLIDEERITUD 9 KUU KASUMIARUANNE tuhandetes kroonides/eurodes, 9 kuu kohta -------------------------------------------------------------------------------- | | 9 kuud 2008 | 9 kuud 2007 | -------------------------------------------------------------------------------- | | EEK | EUR | EEK | EUR | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Äritulud | | | | | -------------------------------------------------------------------------------- | Müügitulu | 4 716 246 | 301 423 | 4 181 198 | 267 227 | -------------------------------------------------------------------------------- | Muud äritulud | 117 503 | 7 509 | 90 814 | 5 803 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müüdud kaupade | -3 559 099 | -227 468 | -3 136 776 | -200 477 | | kulu | | | | | -------------------------------------------------------------------------------- | Mitmesugused | -501 878 | -32 076 | -383 100 | -24 484 | | tegevuskulud | | | | | -------------------------------------------------------------------------------- | Tööjõukulud | -474 232 | -30 309 | -358 740 | -22 928 | -------------------------------------------------------------------------------- | Põhivara kulum | -99 635 | -6 368 | -75 145 | -4 803 | | ja väärtuse | | | | | | langus | | | | | -------------------------------------------------------------------------------- | Muud ärikulud | -8 558 | -546 | -14 913 | -953 | -------------------------------------------------------------------------------- | Ärikasum | 190 347 | 12 165 | 303 338 | 19 385 | -------------------------------------------------------------------------------- | Finantskulud | -23 312 | -1490 | -27 073 | -1730 | -------------------------------------------------------------------------------- | Finantstulud | 4 056 | 259 | 14 146 | 904 | -------------------------------------------------------------------------------- | Finantstulud | 2 268 | 145 | 1 356 | 87 | | sidusettevõtja | | | | | | te aktsiatelt | | | | | -------------------------------------------------------------------------------- | Finantstulud | -16 988 | -1 086 | -11 571 | -739 | | ja-kulud kokku | | | | | -------------------------------------------------------------------------------- | Kasum enne | 173 359 | 11 079 | 291 767 | 18 646 | | tulumaksustami | | | | | | st | | | | | -------------------------------------------------------------------------------- | Tulumaks | -21 653 | -1 384 | -11 487 | -734 | -------------------------------------------------------------------------------- | ARUANDEPERIOOD | 151 706 | 9 695 | 280 280 | 17 912 | | I PUHASKASUM | | | | | -------------------------------------------------------------------------------- Raul Puusepp Juhatuse esimees Tel 7 315 000
Title
CONSOLIDATED INTERIM REPORT FOR THE PERIOD OF 9 MONTHS OF 2008
Message
The consolidated non-audited revenue of Tallinna Kaubamaja for the first nine months of 2008 was 4.7 billion kroons (301.4 million euros). The return on sales of the Group of the first nine months in 2007 was 4.2 billion kroons (267.2 million euros). The growth in turnover was 13%. Net profit was 46% less than that of the first three quarters last year, totalling 151.7 million kroons (9.7 million euros), which is 128.6 million kroons (8.2 million euros) less compared to the same period in 2007 when net profit amounted to 280.3 million kroons (17.9 million euros). The influence of factors that slowed down net profit in the first half of the year continued to have their impact in the third quarter as well. There are 19.0million kroons (1.2 million euros) non-capitalized development costs in the operating expenses for the first nine months in 2008. In the same period in 2007, the corresponding costs were 11.6 million kroons (0.7 million euros). The decrease in net profit was mostly caused by shops that were fully or partially closed for reconstruction works (bearing operating costs) and by pre-opening costs of new Selver shops. In the third quarter retail sales volumes ceased to increase, which also had an impact on profit. Other factors for decrease in profit were expected growth of maintenance and labour costs, increase in depreciation resulting from the revaluation of fixed assets, undertaken at the end of 2007, also the income tax 21.7 million kroons (1.4 million euros, 2007: 11.5 million kroons, 0.7 million euros) expense on the dividends distributed for the prior financial years. As of 30 September 2008, the balance sheet total of the Tallinna Kaubamaja Group was 4.3 billion kroons (271.6 million euros), which means an increase by 1.4 billion kroons (88.6 million euros) compared to the end of the third quarter of 2007. In the first nine months of 2008, assets and shareholders' equity increased by 28% and 4% respectively. Sales revenue of the first nine months of 2008 of the business segment of the Kaubamaja department stores was 1 098.6 million kroons (70.2 million euros), showing a growth of 4% in comparison with the same period of the previous year, regardless of decrease in retail sales in stores selling manufactured goods in whole Estonia. Net profit of the Kaubamaja department stores during the first nine months in 2008 was 85.9 million kroons (5.5 million euros), which fell behind the result achieved a year ago by 10.1 million kroons (0.6 million euros). Financing cost used for acquisitions and growth of maintenance costs have had the most negative impact on the profit of Kaubamaja department stores. OÜ TKM Beauty, the subsidiary founded in autumn 2007, continued preparing for the launch of the chain of beauty shops operating under the trademark I.L.U. Opening of the shops depends on the opening times of shopping centres. The company planned to open the first shop in Pärnu in late autumn of 2008, but the project will be late owing to delays by shopping centre developers and will therefore be opened in spring 2009. Lease contracts have also been signed with shopping centre developers in Tartu. In Tallinn the shops will be opened in Rocca al Mare and Kristiine shopping centres in the second half of 2009. The first shop in Latvia will be opened in 2010. Net turnover of Selver for the first nine months in 2008 was 3.0 billion kroons (194.7 million euros), which exceeds that of the same period of last year by 14%. The turnover for the same period last year was 2.7 billion kroons (171.2 million euros). The pre-tax profit of A-Selver for the first nine months in 2008 was 73.7 million kroons (4.7 million euros), decreasing by 82.5 million kroons (5.3 million euros) compared to the same period in 2007. Because of reconstruction works Pirita and Anne Selver were closed for customers for one and a half months and Krooni Selver for two weeks, which had a negative impact on net profit. In Järve Selver the reconstruction works were carried out during four months, which affected sales. In 2008 seven new shops were opened: in February a shop in Narva was opened, in March in Kohtla-Järve, in May in Hiiumaa, in June in Tallinn Mustamäe, in July in Põlva and Pärnu and in August in Paide. A total of 10,856 m2 selling space was added. Extensive reconstructions were carried out and additional selling space was obtained in four shops: Järve and Pirita Selver in Tallinn, Krooni Selver in Rakvere and Anne Selver in Tartu. A total of 18,437 m2 selling space was added through opening of new shops and reconstruction. Sales revenue for the first nine months of 2008 of the real estate segment was 89.9 million kroons (5.7 million euros), and in comparison with the same period of 2007, sales revenue increased by 23%. Sales revenue for the first nine months of 2008 of the real estate segment without inter-segmental sales was 30.3 million kroons (1.9 million euros), increasing by 1% in comparison with last year. Net profit for the first nine months of 2008 was 22.3 million kroons (1.4 million euros), decreasing by 8.7 million kroons or 28% compared to the previous year. The decrease in net profit was caused by the increase in financial costs and the depreciation of fixed assets. The sales revenue of the car trade segment for the first nine months of 2008 was 437.0 million kroons (27.9 million euros). In the first nine months, 1 719 new vehicles were sold, which exceeds the number of vehicles sold during the same period a year ago by 113. KIA has a 3.3% market share in the Baltic countries (growth by 23% compared to the same period last year). The net loss of the car trade segment of the first nine months of 2008 amounted to 2.4 million kroons (0.2 million euros). The net profit of the first nine months of 2007 was 8.5 million kroons (0.54 million euros). The market share growth took its toll on declining margins and growing advertising costs. Establishing the Latvian subsidiary SIA KIA Automobiles and entering the Latvian market fell in the same period with rapidly diminishing car market of Latvia in 2007 and had its negative impact on profit in the first nine months of the year. Gained market share allows to expect better results in the future. The sales revenue of Suurtüki NK AS and Suurtuki SIA, acquired on 1 April 2008, made up 51.9 million kroons (3.3 million euros) of the sales for the nine months in group total. In addition to 20 already existing stores in Estonia and Latvia, two new stores were opened. In the fourth quarter Väike-Karja store in Tallinn will be closed. Reporting period ended with a loss of 6.3 million kroons (0.4 million euros). The result was influenced by costs for opening new stores and accumulated goods in stock that were sold at final sale at the end of summer and at closing down sale in Väike-Karja store. On 30 June 2008 Tallinna Kaubamaja group acquired ABC King AS with its subsidiary ABC King SIA and OÜ ABC Saare footwear stores. At the end of the third quarter, Tallinna Kaubamaja group had 16 footwear stores in Estonia and Latvia. Sales of ABC King companies in group's total amounted to 50.5 million kroons (3.2 million euros). Their profit was 1.0 million kroons (0.6 million euros). The result was influenced by costs for opening new stores in Tasku Keskus in Tartu, Põhjakeskus in Rakvere and Auriga Keskus (will be opened in October) in Saaremaa . Work on new concepts for footwear stores and brand innovation has begun, which according to plans will be finalised in the second half of 2009. In addition, the group has taken preparatory steps to open new office and warehouse premises for footwear business in Tallinn and has made respective investments. The premises should accommodate the group's whole footwear business and should improve management performance, offer synergies for the efficiency of footwear stores, minimise costs and contribute to better results in the future. CONSOLIDATED BALANCE SHEET thousand kroons/euros -------------------------------------------------------------------------------- | | 30. September 2008 | 31 December 2007 | -------------------------------------------------------------------------------- | | EEK | EUR | EEK | EUR | -------------------------------------------------------------------------------- | ASSETS | | | | | -------------------------------------------------------------------------------- | Current | | | | | | assets | | | | | -------------------------------------------------------------------------------- | Cash at bank | 45,201 | 2,889 | 282,635 | 18,064 | | and in hand | | | | | -------------------------------------------------------------------------------- | Trade | 77,342 | 4,943 | 50,966 | 3,257 | | receivables | | | | | -------------------------------------------------------------------------------- | Other | 27,9 | 1,784 | 50,755 | 3,244 | | receivables | | | | | -------------------------------------------------------------------------------- | Prepaid | 46,259 | 2,956 | 20,133 | 1,287 | | expenses | | | | | -------------------------------------------------------------------------------- | Inventories | 873,986 | 55,858 | 519,63 | 33,209 | -------------------------------------------------------------------------------- | Total | 1,070,688 | 68,43 | 924,119 | 59,061 | | current | | | | | | assets | | | | | -------------------------------------------------------------------------------- | Fixed assets | | | | | -------------------------------------------------------------------------------- | Prepaid | 36,931 | 2,36 | 37,291 | 2,383 | | expenses | | | | | -------------------------------------------------------------------------------- | Shares in | 16,469 | 1,053 | 14,201 | 908 | | affiliated | | | | | | companies | | | | | -------------------------------------------------------------------------------- | Other | 2,828 | 181 | 2,828 | 181 | | long-term | | | | | | receivables | | | | | -------------------------------------------------------------------------------- | Tangible | 2,930,797 | 187,312 | 2,300,878 | 147,053 | | fixed assets | | | | | -------------------------------------------------------------------------------- | Intangible | 69,852 | 4,464 | 0 | 0 | | fixed assets | | | | | -------------------------------------------------------------------------------- | Goodwill | 121,783 | 7,783 | 49,388 | 3,156 | -------------------------------------------------------------------------------- | Total | 191,635 | 7,783 | 49,388 | 3,156 | | intangible | | | | | | assets | | | | | -------------------------------------------------------------------------------- | Total fixed | 3,178,660 | 203,153 | 2,404,586 | 153,681 | | assets | | | | | -------------------------------------------------------------------------------- | TOTAL ASSETS | 4,249,348 | 271,583 | 3,328,705 | 212,742 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | LIABILITIES | | | | | | AND OWNERS' | | | | | | EQUITY | | | | | -------------------------------------------------------------------------------- | Current | | | | | | liabilities | | | | | -------------------------------------------------------------------------------- | Debts | 225,513 | 14,413 | 120,626 | 7,709 | -------------------------------------------------------------------------------- | Prepayments | 7,926 | 507 | 11,673 | 745 | | received for | | | | | | goods and | | | | | | services | | | | | -------------------------------------------------------------------------------- | Trade | 698,814 | 44,663 | 611,454 | 39,08 | | payables | | | | | -------------------------------------------------------------------------------- | Other | 116,703 | 7,458 | 166,756 | 10,657 | | current | | | | | | payables | | | | | -------------------------------------------------------------------------------- | Total | 1,048,956 | 67,041 | 910,509 | 58,191 | | current | | | | | | liabilities | | | | | -------------------------------------------------------------------------------- | Long-term | | | | | | liabilities | | | | | -------------------------------------------------------------------------------- | Debts | 1,234,848 | 78,921 | 522,214 | 33,375 | -------------------------------------------------------------------------------- | Long term | 1,647 | 105 | 2,075 | 132 | | reserve | | | | | -------------------------------------------------------------------------------- | Total | 1,236,495 | 79,026 | 524,289 | 33,507 | | long-term | | | | | | liabilities | | | | | -------------------------------------------------------------------------------- | TOTAL | 2,285,451 | 146,066 | 1,434,798 | 91,698 | | LIABILITIES | | | | | -------------------------------------------------------------------------------- | Owners' | | | | | | equity | | | | | -------------------------------------------------------------------------------- | Share | 407,292 | 26,031 | 407,292 | 26,031 | | capital | | | | | -------------------------------------------------------------------------------- | Statutory | 40,729 | 2,603 | 40,729 | 2,603 | | reserve | | | | | -------------------------------------------------------------------------------- | Fixed assets | 733,306 | 46,867 | 759,721 | 48,555 | | revaluation | | | | | | reserve | | | | | -------------------------------------------------------------------------------- | Retained | 782,817 | 50,032 | 686,155 | 43,854 | | earnings | | | | | -------------------------------------------------------------------------------- | Currency | -247 | -16 | 10 | 1 | | exchange | | | | | | differences | | | | | -------------------------------------------------------------------------------- | TOTAL | 1,963,897 | 125,517 | 1,893,907 | 121,044 | | OWNERS' | | | | | | EQUITY | | | | | -------------------------------------------------------------------------------- | TOTAL | 4,249,348 | 271,583 | 3,328,705 | 212,742 | | LIABILITIES | | | | | | AND OWNERS' | | | | | | EQUITY | | | | | -------------------------------------------------------------------------------- CONSOLIDATED INCOME STATEMENT thousand kroons/euros -------------------------------------------------------------------------------- | | 9 months 2008 | 9 months 2007 | -------------------------------------------------------------------------------- | | EEK | EUR | EEK | EUR | -------------------------------------------------------------------------------- | | | | | | -------------------------------------------------------------------------------- | Operating | | | | | | revenue | | | | | -------------------------------------------------------------------------------- | Sales | 4,716,246 | 301,423 | 4,181,198 | 267,227 | | revenue | | | | | -------------------------------------------------------------------------------- | Other | 117,503 | 7,509 | 90,814 | 5,803 | | operating | | | | | | revenue | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Cost of | -3,559,099 | -227,468 | -3,136,776 | -200,477 | | goods sold | | | | | -------------------------------------------------------------------------------- | Other | -501,878 | -32,076 | -383,1 | -24,484 | | operating | | | | | | expenses | | | | | -------------------------------------------------------------------------------- | Staff costs | -474,232 | -30,309 | -358,74 | -22,928 | -------------------------------------------------------------------------------- | Depreciation | -99,635 | -6,368 | -75,145 | -4,803 | | and | | | | | | impairment | | | | | | of fixed | | | | | | assets | | | | | -------------------------------------------------------------------------------- | Other | -8,558 | -546 | -14,913 | -953 | | operating | | | | | | expenses | | | | | -------------------------------------------------------------------------------- | Operating | 190,347 | 12,165 | 303,338 | 19,385 | | profit | | | | | -------------------------------------------------------------------------------- | Financial | -23 312 | -1490 | -27 073 | -1730 | | expenses | | | | | -------------------------------------------------------------------------------- | Financial | 4 056 | 259 | 14 146 | 904 | | income | | | | | -------------------------------------------------------------------------------- | Financial | 2 268 | 145 | 1 356 | 87 | | income from | | | | | | shares in | | | | | | affiliated | | | | | | companies | | | | | -------------------------------------------------------------------------------- | Total | -16,988 | -1,086 | -11,571 | -739 | | financial | | | | | | income and | | | | | | expenses | | | | | -------------------------------------------------------------------------------- | Profit | 173,359 | 11,079 | 291,767 | 18,646 | | before | | | | | | income tax | | | | | -------------------------------------------------------------------------------- | Income tax | -21,653 | -1,384 | -11,487 | -734 | -------------------------------------------------------------------------------- | NET PROFIT | 151,706 | 9,695 | 280,28 | 17,912 | | FOR | | | | | | ACCOUNTING | | | | | | PERIOD | | | | | -------------------------------------------------------------------------------- Raul Puusepp Chairman of the Board Phone: +372 731 5000