Market announcement
TKM Grupp AS
Category
Management interim statement or quarterly financial report
Attachments
Date
28.05.2009 16:30:00
Title
2009. AASTA I KVARTALI AUDITEERIMATA MAJANDUSTULEMUSED
Message
Tallinna Kaubamaja kontserni 2009. aasta kolme esimese kuu konsolideeritud
auditeerimata müügitulu oli 1,52 miljardit krooni (97,4 miljonit eurot).
Kontserni 2008. aasta võrreldava perioodi müügitulu oli 1,47 miljardit krooni
(94,0 miljonit eurot). Käibe kasv oli 4%. Kontsern langes esimeses kvartalis
52,3 miljoni krooni (3,3 miljoni euro) suurusesse kahjumisse teenides aasta
varasema perioodiga võrreldes 120,0 miljonit krooni (7,7 miljonit eurot) vähem
kasumit. 2008. aasta esimeses kvartalis teenis kontsern kasumit 67,5 miljonit
krooni (4,3 miljonit eurot). Tallinna Kaubamaja kontserni bilansimaht 31.
märtsil 2009 oli 4,3 miljardit krooni (276,8 miljonit eurot), kahanedes
võrreldes 2008. aasta lõpu seisuga 4 miljonit krooni (0,3 miljonit eurot).
Varade maht kahanes 0,09%.
Kontserni põhiliseks fookuseks 2009. aasta esimeses kvartalis oli ettevõtete
kohandamine 2008. aasta neljandas kvartalis alguse saanud majanduskeskkonna
järsu muutusega. Eelmise aasta sama perioodiga võrreldes on oluliselt kasvanud
2008. aasta suurest investeeringute mahust põhjustatud põhivarade
amortisatsioon (lisandus 17,5 miljonit krooni) ning finantskulud (lisandus 4,6
miljonit krooni). Eesmärgiga alandada opereerimiskulusid on kontsern pidanud
läbirääkimisi partnerite ja tarnijatega teenusehindade langetamise osas. Alates
teisest kvartalist on suuremates ärisegmentides saavutatud kontoritöötajatega
kokkulepe palga alandamiseks 10% võrra. Müügimahtude vähenedes on loomuliku
rotatsiooni ja osalise tööaja kasutamisega reguleeritud müügipersonali arvu.
Kaalutud on mõnede jalatsikaupluste sulgemist.
Kaubamajade ärisegmendi 2009. a. esimese kvartali müügitulu oli 277,1 miljonit
krooni (17,7 miljonit eurot), kahanedes eelmise aastaga võrreldes 21%.
Kaubamajade kahjum 2009. aasta esimeses kvartalis oli 11,4 miljonit krooni
(0,7 miljonit eurot), jäädes aastatagusele tulemusele alla 35,4 miljonit krooni
(2,3 miljoni euroga). Kaubamaja kasumile esimeses kvartalis avaldasid tugevat
mõju ühelt poolt renoveerimistööd mitmetes osakondades ja teiselt poolt
müügitulu vähenemine võrreldes eelmise aasta sama perioodiga (-21%). Ettevõtte
juhtkonna poolt kasutusele võetud meetmed tööjõukulude vähendamise osas
esimeses kvartalis veel tulemust ei mõjutanud, need avaldavad positiivset mõju
kasumile järgnevates kvartalites.
Supermarketite ärisegmendi konsolideeritud müügitulu 2009. aasta esimeses
kvartalis oli 1,1 miljardit krooni (72,4 miljonit eurot), mis on 16% enam kui
eelmise aasta samal perioodil. Supermarketite ärisegmendi eelmise aasta
võrreldava perioodi müügitulu oli 973 miljonit krooni (62,2 miljonit eurot).
Selveri Eesti sisese netokäibe osakaal vabariigi toidukaupade
spetsialiseerimata kaupluste jaemüügist oli 2009. aasta esimeses kvartalis
17,6%. Eelmise aasta võrreldavas perioodis oli Selveri osakaal antud sektoris
15,2%. Selveri konsolideeritud maksueelne puhaskahjum oli 2009. aasta esimeses
kvartalis 29,2 miljonit krooni (1,9 miljonit eurot), näidates 67,8 miljoni
krooni (4,3 miljonit eurot) suurust langust võrreldes 2008. aasta sama
perioodiga, kui maksueelseks puhaskasumiks oli 38,6 miljonit krooni (2,5
miljonit eurot). 2009. aasta esimese kvartali tulemusi mõjutasid peamiselt
üleüldine majanduse langus, tarbimise vähenemine, uute kaupluste avamiseelsed
kulutused ning Läti tütarettevõtte käivitamisega seotud kulud. Esimeses
kvartalis langes oluliselt eelmise aastaga võrreldes keskmine brutomarginaal.
Käesoleva aasta esimeses kvartalis avas Selver kaks uut kauplust Eestis, Narvas
ja Tallinnas Kakumäel, ning ühe uue kaupluse Lätis Kuldiga linnas. Kokku kasvas
supermarketite ärisegmendi müügipind 2009. aasta esimeses kvartalis 4217
ruutmeetri võrra.
Kinnisvarade ärisegmendi 2009. aasta esimese kvartali müügitulu oli 39,2
miljonit krooni (2,5 miljonit eurot) ning võrreldes 2008. aasta esimese
kvartaliga suurenes müügitulu 45%. Kinnisvarade ärisegmendi 2009. aasta esimese
kvartali müügitulu ilma segmentide vahelise müügita oli 11,3 miljonit krooni
(0,7 miljonit eurot), kasvades eelmise aastaga võrreldes 10%. Esimese kvartali
puhaskasum oli 16,0 krooni (1,0 miljonit eurot) kasvades võrreldes eelneva
aastaga miljonit krooni ehk 262%, mil kasum oli 6,1 miljonit krooni (0,4
miljonit eurot). Kõik peamised kululiigid kasvasid koos hallatava kinnisvara
suurenemisega, kuid opereerimiskulude kasvu hoidmine tulude kasvust madalamal
tõi kaasa puhaskasumi suure kasvu.
Autokaubanduse ärisegmendi 2009. aasta 3 kuu müügitulu oli 62,8 miljonit krooni
(4,0 miljonit eurot). Kolme kuuga müüdi 314 uut sõidukit, mis on 203 sõidukit
vähem, kui aasta varem samal perioodil. Autokaubanduse ärisegmendi esimese
kvartali kahjum oli 5,9 miljonit krooni (0,4 miljonit eurot). Tulemi peamiseks
põhjuseks on turul valitsev olukord, kus ainus müügiargument on hind, mille
tõttu on ka automüügi katted oluliselt vähenenud võrreldes eelmise aastaga.
Järgnevatel kuudel on oodata positiivsemaid tulemusi, sest käesolevaks hetkeks
on segmendi ettevõtetes viidud läbi personalistruktuuri muudatused, mille
tulemusena vastavad need hetke vajadustele ja turu olukorrale, samuti on
oluliselt vähendatud muid püsikulusid. Oluline kokkuhoid tuleb ka laovarude
hoiukuludest ja finantseerimisest, kuna laoväärtust on vähendatud 28% võrreldes
2008. a. lõpuga. Plaanis on laovarusid edaspidi veelgi vähendada.
Jalatsikaubanduse ärisegmendi konsolideeritud müügitulu 2009. aasta esimeses
kvartalis oli 40,2 miljonit krooni (2,6 miljonit eurot). Puhaskahjum oli 2009.
aasta esimese kolme kuuga 21,8 miljonit krooni (1,4 miljonit eurot).
Jalatsikaubanduse müügitulemusi mõjutas jaekaubandusmahtude üldine langus, mis
oli eriti tuntav Eestis väljaspool Tallinna ja Lätis. Esimese kvartali kahjum
on seotud nii müügitulemuste olulise langusega selles segmendis kui ka
ettevõtte tegevusala hooajalisusega ehk jalatsiäri mõjutavad talvehooaja
allahindlused aasta kahel esimesel kuul.
KONSOLIDEERITUD BILANSS
tuhandetes kroonides/eurodes
--------------------------------------------------------------------------------
| | 31. märts 2009 | 31. detsember 2008 |
--------------------------------------------------------------------------------
| | EEK | EUR | EEK | EUR |
--------------------------------------------------------------------------------
| VARAD | | | | |
--------------------------------------------------------------------------------
| Käibevara | | | | |
--------------------------------------------------------------------------------
| Raha ja | 69 834 | 4 463 | 101 353 | 6 478 |
| pangakontod | | | | |
--------------------------------------------------------------------------------
| Nõuded ostjate | 63 076 | 4 031 | 96 538 | 6 170 |
| vastu | | | | |
--------------------------------------------------------------------------------
| Muud | 29 740 | 1 901 | 73 019 | 4 668 |
| lühiajalised | | | | |
| nõuded | | | | |
--------------------------------------------------------------------------------
| Maksude | 47 892 | 3 061 | 41 475 | 2 651 |
| ettemaksed ja | | | | |
| tagasinõuded | | | | |
--------------------------------------------------------------------------------
| Muud ettemaksed | 17 007 | 1 087 | 12 161 | 777 |
--------------------------------------------------------------------------------
| Varud | 824 132 | 52 669 | 781 304 | 49 931 |
--------------------------------------------------------------------------------
| Käibevara kokku | 1 051 681 | 67 212 | 1 105 850 | 70 675 |
--------------------------------------------------------------------------------
| Põhivara | | | | |
--------------------------------------------------------------------------------
| Ettemaksed | 31 074 | 1 986 | 31 074 | 1 985 |
--------------------------------------------------------------------------------
| Investeeringud | 18 330 | 1 172 | 17 505 | 1 119 |
| sidusettevõtete | | | | |
| sse | | | | |
--------------------------------------------------------------------------------
| Muud | 3 801 | 243 | 3 801 | 243 |
| pikaajalised | | | | |
| nõuded | | | | |
--------------------------------------------------------------------------------
| Materiaalne | 3 049 095 | 194 873 | 2 998 073 | 191 612 |
| põhivara | | | | |
--------------------------------------------------------------------------------
| Immateriaalne | 66 806 | 4 270 | 68 431 | 4374 |
| põhivara | | | | |
--------------------------------------------------------------------------------
| Firmaväärtus | 109 499 | 6 998 | 109 499 | 6 998 |
| (goodwill) | | | | |
--------------------------------------------------------------------------------
| Põhivara kokku | 3 278 605 | 209 542 | 3 228 383 | 206 331 |
--------------------------------------------------------------------------------
| VARAD KOKKU | 4 330 286 | 276 754 | 4 334 233 | 277 006 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| KOHUSTUSED JA | | | | |
| OMAKAPITAL | | | | |
--------------------------------------------------------------------------------
| Lühiajalised | | | | |
| kohustused | | | | |
--------------------------------------------------------------------------------
| Intressi | 175 206 | 11 198 | 318 098 | 20 330 |
| kandvad | | | | |
| võlakohustused | | | | |
--------------------------------------------------------------------------------
| Saadud | 7 032 | 449 | 5 237 | 333 |
| ettemaksed | | | | |
| kaupade ja | | | | |
| teenuste eest | | | | |
--------------------------------------------------------------------------------
| Võlad | 775 334 | 49 553 | 800 467 | 51 161 |
| tarnijatele | | | | |
--------------------------------------------------------------------------------
| Maksukohustused | 51 623 | 3 299 | 76 460 | 4 887 |
--------------------------------------------------------------------------------
| Muud | 70 538 | 4 508 | 78 213 | 4 997 |
| lühiajalised | | | | |
| kohustused | | | | |
--------------------------------------------------------------------------------
| Eraldised | 1 622 | 104 | 3 534 | 226 |
--------------------------------------------------------------------------------
| Lühiajalised | 1 081 355 | 69 111 | 1 282 009 | 81 934 |
| kohustused | | | | |
| kokku | | | | |
--------------------------------------------------------------------------------
| Pikaajalised | | | | |
| kohustused | | | | |
--------------------------------------------------------------------------------
| Intressi | 1 464 247 | 93 582 | 1 215 409 | 77 679 |
| kandvad | | | | |
| võlakohustused | | | | |
--------------------------------------------------------------------------------
| Eraldised | 1 284 | 82 | 1 462 | 93 |
--------------------------------------------------------------------------------
| Pikaajalised | 1 465 531 | 93 664 | 1 216 871 | 77 772 |
| kohustused | | | | |
| kokku | | | | |
--------------------------------------------------------------------------------
| KOHUSTUSED | 2 546 886 | 162 775 | 2 498 880 | 159 706 |
| KOKKU | | | | |
--------------------------------------------------------------------------------
| Omakapital | | | | |
--------------------------------------------------------------------------------
| Aktsiakapital | 407 292 | 26 031 | 407 292 | 26 031 |
--------------------------------------------------------------------------------
| Kohustuslik | 40 729 | 2 603 | 40 729 | 2 603 |
| reservkapital | | | | |
--------------------------------------------------------------------------------
| Põhivara | 677 516 | 43 302 | 682 028 | 43 590 |
| ümberhindluse | | | | |
| reserv | | | | |
--------------------------------------------------------------------------------
| Jaotamata kasum | 657 955 | 42 049 | 705 719 | 45 103 |
--------------------------------------------------------------------------------
| Konverteerimise | -92 | -6 | -415 | -27 |
| rinevused | | | | |
--------------------------------------------------------------------------------
| OMAKAPITAL | 1 783 400 | 113 979 | 1 835 353 | 117 300 |
| KOKKU | | | | |
--------------------------------------------------------------------------------
| KOHUSTUSED JA | 4 330 286 | 276 754 | 4 334 234 | 277 006 |
| OMAKAPITAL | | | | |
| KOKKU | | | | |
--------------------------------------------------------------------------------
KONSOLIDEERITUD KOONDKASUMIARUANNE
tuhandestes kroonides/eurodes, 3 kuu kohta
--------------------------------------------------------------------------------
| | 3 kuud 2009 | 3 kuud 2008 |
--------------------------------------------------------------------------------
| | EEK | EUR | EEK | EUR |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Müügitulu | 1 524 603 | 97 440 | 1 470 276 | 93 968 |
--------------------------------------------------------------------------------
| Muud äritulud | 37 954 | 2 425 | 33 308 | 2 129 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Müüdud kaupade | -1 207 003 | -77 142 | -1 114 371 | -71 221 |
| kulu | | | | |
--------------------------------------------------------------------------------
| Mitmesugused | -186 684 | -11 931 | -150 975 | -9 649 |
| tegevuskulud | | | | |
--------------------------------------------------------------------------------
| Tööjõukulud | -164 192 | -10 494 | -135 856 | -8 683 |
--------------------------------------------------------------------------------
| Põhivara kulum ja | -46 402 | -2 966 | -28 913 | -1 848 |
| väärtuse langus | | | | |
--------------------------------------------------------------------------------
| Muud ärikulud | -2 297 | -147 | -3 025 | -193 |
--------------------------------------------------------------------------------
| Ärikasum | -44 021 | -2 815 | 70 444 | 4 503 |
--------------------------------------------------------------------------------
| Finantskulud | -10 160 | -649 | -5 607 | -358 |
--------------------------------------------------------------------------------
| Finantstulud | 1 080 | 69 | 1 848 | 118 |
--------------------------------------------------------------------------------
| Finantstulud | 825 | 53 | 818 | 52 |
| sidusettevõtjate | | | | |
| aktsiatelt | | | | |
--------------------------------------------------------------------------------
| Finantstulud | -8 255 | -527 | -2 941 | -188 |
| ja-kulud kokku | | | | |
--------------------------------------------------------------------------------
| Aruandeperioodi | -52 276 | -3 342 | 67 503 | 4 315 |
| kasum/kahjum | | | | |
--------------------------------------------------------------------------------
| Muu koondkasum | | | | |
--------------------------------------------------------------------------------
| Valuutakursi vahed | 323 | 21 | 145 | 9 |
| välisettevõtete | | | | |
| ümberarvestusel | | | | |
--------------------------------------------------------------------------------
| ARUANDEPERIOODI | -51 953 | -3 321 | 67 648 | 4 324 |
| KOONDKASUM/KAHJUM | | | | |
--------------------------------------------------------------------------------
Raul Puusepp
Juhatuse esimees
Tel 731 5000
Title
UNAUDITED CONSOLIDATED INTERIM ACCOUNTS OF FIRST QUARTER OF 2009
Message
Tallinna Kaubamaja Group's consolidated non-audited sales income of the first
three months of 2009 was 1.52 billion kroons (97.4 million euros). The sales
income of the Group for the comparable period of 2008 amounted to 1.47 billion
kroons (94.0 million euros). The turnover increased by 4%. In the 1st quarter,
the Group suffered a loss amounting to 52.3 million kroons (-3.3 million
euros), earning 120.0 million kroons (-7.7 million euros) less income than in
the same period of the previous year. In the first quarter of 2008, the Group
earned a profit of 67.5 million kroons (4.3 million euros). As of 31 March
2009, the balance sheet total of the Tallinna Kaubamaja Group was 4.3 billion
kroons (276.8 million euros), which means a decrease by 4 million kroons (0,3
million euros) compared to the end of 2008. Assets decreased by 0.09%.
During the first quarter of 2009, the Group focussed mainly on adjusting the
companies to the abrupt change in the economic environment that began in the
fourth quarter of 2008. Compared to the same period of the previous year, the
depreciation of fixed assets has increased significantly due to the large
volume of investments in 2008 (increase by 17.5 million kroons) and financial
costs (increase by 4.6 million kroons). In order to reduce the operating costs,
the Group has held negotiations with partners and suppliers about lowering the
prices of services. In the larger business segments, an agreement has been
reached with the office staff to reduce the salary by 10% starting from the
second quarter. As the sales volumes decrease, the number of sales employees
has been regulated by way of natural rotation and applying part-time work.
Closing of some footwear stores has been discussed.
In the department stores segment, the sales income amounted to 277.1 million
kroons (17.7 million euros) in the 1st quarter of 2009, decreasing by 21%
compared to the previous year. The loss of department stores in the first
quarter of 2009 amounted to 11.4 million kroons (0.7 million euros), falling
below the indicator of the previous year by 35.4 million kroons (2.3 million
euros). Kaubamaja's profit in the first quarter was greatly influenced by, on
the one hand, renovations in several departments and, on the other hand, the
decrease of the sales income in comparison with the same period of the previous
year (-21%). The measures taken by the company's management in order to reduce
labour costs did not influence the results of the first quarter as yet; these
will exert a positive influence on the profit during the following quarters.
The consolidated sales income of the segment of supermarkets amounted to 1.1
billion kroons (72.4 million euros) in the first quarter of 2009, which is 16%
more than in the same period of the previous year. The sales income of the
business segment of supermarkets in the comparable period of the previous year
was 973 million kroons (62.2 million euros). The share of Selver's domestic net
turnover (in Estonia) in the retail sales of the country's non-specialised food
stores was 17.6% in the first quarter of 2009. In the comparable period of the
previous year, Selver's share in this sector was 15.2%. Selver's consolidated
pre-tax net loss amounted to 29.2 million kroons (1.9 million euros) in the
first quarter of 2009, showing a decrease of 67.8 million kroons (4.3 million
euros) compared to the same period of 2008, when the pre-tax net profit
amounted to 38.6 million kroons (2.5 million euros). The results of the first
quarter of 2009 were mainly influenced by the overall economic recession,
decrease of consumption, pre-opening costs of new stores and costs related to
initiating the operation of the Latvian subsidiary. In the first quarter, the
average gross margin decreased significantly compared to the previous year. In
the first quarter of this year, Selver opened 2 new stores in Estonia (in Narva
and in Kakumäe, Tallinn), and 1 new store in Latvia, in the town of Kuldiga. In
total, the sales space of the supermarkets segment increased by 4,217 square
meters in the first quarter of 2009.
The sales revenue of Q1 2009 of the segment of real property was 39.2 million
kroons (2.5 million euros), and in comparison with Q1 2008, the sales revenue
increased by 45 %. The sales revenue of Q1 2009 of the segment of real property
without inter-segmental sales was 11.3 million kroons (0.7 million euros),
increasing by 10% in comparison with last year. The net profit of the first
quarter amounted to 16.0 million kroons (1.0 million euros), increasing by 9.9
million kroons or 262% compared to the previous year when the profit amounted
to 6.1 million kroons (0.4 million euros). Costs within all main categories
increased due to the increase in real estate to be managed, but the large
increase in net profit was achieved by keeping the increase of operating costs
lower than the increase of income.
The sales revenue of the car trade segment of 3 months 2009 was 62.8 million
kroons (4.0 million euros). During 3 months of 2009 314 new vehicles were sold,
which is 203 vehicles less than a same period year ago. The loss of the car
trade segment was 5.9 million kroons (0.4 million euros) in the first quarter.
The main cause of this outcome is the current market situation where the price
is the only sales argument; consequently, the sales coverage of car sales has
also significantly diminished in comparison with the previous year. Better
results can be expected during the following months because as of now, changes
have been made in the personnel structure of the companies of the segment,
leading to a better adjustment to the current needs and market situation. Other
standing costs have also been considerably reduced. A significant saving is
also achieved from storage costs and financing of the stock of goods, as the
stock value has been reduced by 28% compared to the end of 2008. Further
reduction of the stock of goods is planned for the future.
The consolidated sales income of the footwear trade segment amounted to 40.2
million kroons (2.6 million euros) in the first quarter of 2009. The net loss
was 21.8 million kroons (1.4 million euros) in the first three months of 2009.
The sales results of footwear trade can be considered modest, the reason being
the overall decrease of retail sales volumes. Its influence is particularly
palpable in Estonia (excluding Tallinn) and Latvia. The loss of the first
quarter is related to the significant decrease of sales results in this
segment, as well as the seasonal nature of the company's activities, i.e. the
discounts of the winter season influencing the footwear trade during the first
two months of the year.
CONSOLIDATED BALANCE SHEET
thousand kroons/euros
--------------------------------------------------------------------------------
| | 31 March 2009 | 31 December 2008 |
--------------------------------------------------------------------------------
| | EEK | EUR | EEK | EUR |
--------------------------------------------------------------------------------
| ASSETS | | | | |
--------------------------------------------------------------------------------
| Current assets | | | | |
--------------------------------------------------------------------------------
| Cash at bank and | 69,834 | 4,463 | 101,353 | 6,478 |
| in hand | | | | |
--------------------------------------------------------------------------------
| Trade receivables | 63,076 | 4,031 | 96,538 | 6,170 |
--------------------------------------------------------------------------------
| Other receivables | 29,740 | 1,901 | 73,019 | 4,668 |
--------------------------------------------------------------------------------
| Prepaid and | 47,892 | 3,061 | 41,475 | 2,651 |
| refundable taxes | | | | |
--------------------------------------------------------------------------------
| Prepaid expenses | 17,007 | 1,087 | 12,161 | 777 |
--------------------------------------------------------------------------------
| Inventories | 824,132 | 52,669 | 781,304 | 49,931 |
--------------------------------------------------------------------------------
| Total current | 1,051,681 | 67,212 | 1,105,850 | 70,675 |
| assets | | | | |
--------------------------------------------------------------------------------
| Fixed assets | | | | |
--------------------------------------------------------------------------------
| Prepaid expenses | 31,074 | 1,986 | 31,074 | 1,985 |
--------------------------------------------------------------------------------
| Shares in | 18,330 | 1,172 | 17,505 | 1,119 |
| affiliated | | | | |
| companies | | | | |
--------------------------------------------------------------------------------
| Other long-term | 3,801 | 243 | 3,801 | 243 |
| receivables | | | | |
--------------------------------------------------------------------------------
| Tangible fixed | 3,049,095 | 194,873 | 2,998,073 | 191,612 |
| assets | | | | |
--------------------------------------------------------------------------------
| Intangible fixed | 66,806 | 4,270 | 68,431 | 4374 |
| assets | | | | |
--------------------------------------------------------------------------------
| Goodwill | 109,499 | 6,998 | 109,499 | 6,998 |
--------------------------------------------------------------------------------
| Total fixed assets | 3,278,605 | 209,542 | 3,228,383 | 206,331 |
--------------------------------------------------------------------------------
| TOTAL ASSETS | 4,330,286 | 276,754 | 4,334,233 | 277,006 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| LIABILITIES AND | , | , | , | , |
| OWNERS' EQUITY | | | | |
--------------------------------------------------------------------------------
| Current | | | | |
| liabilities | | | | |
--------------------------------------------------------------------------------
| Interest bearing | 175,206 | 11,198 | 318,098 | 20,330 |
| loans and | | | | |
| borrowings | | | | |
--------------------------------------------------------------------------------
| Prepayments | 7 032 | 449 | 5,237 | 333 |
| received for goods | | | | |
| and services | | | | |
--------------------------------------------------------------------------------
| Accounts payable | 775,334 | 49,553 | 800,467 | 51,161 |
--------------------------------------------------------------------------------
| Taxes payable | 51,623 | 3,299 | 76,460 | 4,887 |
--------------------------------------------------------------------------------
| Other short-term | 70,538 | 4,508 | 78,213 | 4,997 |
| liabilities | | | | |
--------------------------------------------------------------------------------
| Provisions | 1,622 | 104 | 3,534 | 226 |
--------------------------------------------------------------------------------
| Total current | 1,081,355 | 69,111 | 1,282,009 | 81,934 |
| liabilities | | | | |
--------------------------------------------------------------------------------
| Long-term | | | | |
| liabilities | | | | |
--------------------------------------------------------------------------------
| Interest bearing | 1,464,247 | 93,582 | 1,215,409 | 77,679 |
| loans and | | | | |
| borrowings | | | | |
--------------------------------------------------------------------------------
| Provisions | 1,284 | 82 | 1,462 | 93 |
--------------------------------------------------------------------------------
| Total long-term | 1,465,531 | 93,664 | 1,216,871 | 77,772 |
| liabilities | | | | |
--------------------------------------------------------------------------------
| TOTAL LIABILITIES | 2,546,886 | 162,775 | 2,498,880 | 159,706 |
--------------------------------------------------------------------------------
| Owners' equity | | | | |
--------------------------------------------------------------------------------
| Share capital | 407,292 | 26,031 | 407,292 | 26,031 |
--------------------------------------------------------------------------------
| Mandatory reserve | 40,729 | 2,603 | 40,729 | 2,603 |
--------------------------------------------------------------------------------
| Revaluation | 677,516 | 43,302 | 682,028 | 43,590 |
| reserve | | | | |
--------------------------------------------------------------------------------
| Retained earnings | 657,955 | 42,049 | 705,719 | 45,103 |
--------------------------------------------------------------------------------
| Foreign currency | -92 | -6, | -415, | -27, |
| translation | | | | |
--------------------------------------------------------------------------------
| TOTAL OWNER`S | 1,783,400 | 113,979 | 1,835,353 | 117,300 |
| EQUITY | | | | |
--------------------------------------------------------------------------------
| TOTAL LIABILITIES | 4,330,286 | 276,754 | 4,334,234 | 277,006 |
| AND OWNER`S EQUITY | | | | |
--------------------------------------------------------------------------------
CONSOLIDATED INCOME STATEMENT
thousand kroons/euros
--------------------------------------------------------------------------------
| | 3 months 2009 | 3 months 2008 |
--------------------------------------------------------------------------------
| | EEK | EUR | EEK | EUR |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Revenue | 1,524,603 | 97,440 | 1,470,276 | 93,968 |
--------------------------------------------------------------------------------
| Other income | 37,954 | 2,425 | 33,308 | 2,129 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Materials and | -1,207,003 | -77,142 | -1,114,371 | -71,221 |
| consumables | | | | |
| used | | | | |
--------------------------------------------------------------------------------
| Other operating | -186,684 | -11,931 | -150,975 | -9,649 |
| expenses | | | | |
--------------------------------------------------------------------------------
| Personnel | -164,192 | -10,494 | -135,856 | -8,683 |
| expenses | | | | |
--------------------------------------------------------------------------------
| Depreciation, | -46,402 | -2,966 | -28,913 | -1,848 |
| amortisation | | | | |
| and impairments | | | | |
--------------------------------------------------------------------------------
| Other expenses | -2,297 | -147 | -3,025 | -193 |
--------------------------------------------------------------------------------
| Operating | -44,021 | -2,815 | 70,444 | 4,503 |
| profit | | | | |
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| Financial | -10,160 | -649 | -5,607 | -358 |
| expenses | | | | |
--------------------------------------------------------------------------------
| Financial | 1,080 | 69 | 1,848 | 118 |
| income | | | | |
--------------------------------------------------------------------------------
| Financial | 825 | 53 | 818 | 52 |
| income from | | | | |
| shares of | | | | |
| associated | | | | |
| companies | | | | |
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| Total net | -8,255 | -527 | -2,941 | -188 |
| financial items | | | | |
--------------------------------------------------------------------------------
| Profit before | -52,276 | -3,342 | 67,503 | 4,315 |
| income tax | | | | |
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| Other | | | | |
| comprehensive | | | | |
| income | | | | |
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| Exchange | 323 | 21 | 145 | 9 |
| differences on | | | | |
| translating | | | | |
| foreign | | | | |
| operations | | | | |
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| TOTAL | -51,953 | -3,321 | 67,648 | 4,324 |
| COMPREHENSIVE | | | | |
| INCOME | | | | |
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Raul Puusepp
Chairman of the Board
Phone +372 731 5000