Market announcement
Nordic Fibreboard AS
Category
Half-yearly financial report
Attachments
Date
14.08.2009 16:23:51
Title
Majandustulemused, 6 kuud 2009
Message
Kasumiaruanne Vaatamata raskele majanduslikule olukorrale sihtturgudel ning suurest käibe vähenemisest on kontserni II kvartali tulemus positiivne. Konsolideeritud puhaskasum oli II kvartalis 82 tuhat krooni/5 tuhat eurot (2008: 3,0 mln krooni/192 tuhat eurot) ja puhasrentaablus 0,2% (võrrelduna 2008 aasta II kvartali 3,8%-ga). 2009 aasta II kvartalis oli kontserni omakapitali puhasrentaablus 0,0% (võrrelduna 2008 aasta II kvartali 4,0%-ga) ja varade puhasrentaablus 0,0% (võrrelduna 2008 aasta II kvartali 1,6%-ga). Aruandeaasta II kvartali müügitulu oli 51,1 mln krooni/3,3 mln eurot (20087 aastal 78,2 mln krooni/5,0 mln eurot) mis tähendab 2008 aasta II kvartaliga võrreldes 34,6%-list vähenemist. Kontserni müügikäibe brutorentaablus oli 2009 aasta II kvartalis 23,1% võrrelduna 2008 aasta II kvartali 22,7%-ga. Konsolideeritud ärikasum oli 0,8 mln krooni/52 tuhat eurot (2008 aastal 5,6 mln krooni/358 tuhat eurot), mis tähendab 2008 aasta II kvartaliga võrreldes 85,5%-list langust. Konsolideeritud müügikäibe ärirentaablus oli 1,6% (võrrelduna 2008 aasta II kvartali 7,2%-ga). Tulumaksu eelne kasum oli aruandeaasta II kvartalis 82 tuhat krooni/5 tuhat eurot (2008 aastal 4,7 mln krooni/299 tuhat eurot). 2009 aastal AS Viisnurk aktsionäridele dividende ei makstud. 2008 aasta II kvartalis maksti aktsionäridele dividende 6,3 mln krooni/0,4 mln eurot, so 1 kroon 40 senti/8,95 euro senti aktsia kohta. Dividendidelt maksti tulumaksu 1,7 mln krooni/107 tuhat eurot. Käibe oluline vähenemine on tingitud jätkuvast madalseisust sihtturgudel. Samas on käive langenud võrreldes 2009 aasta I kvartaliga ainult 3,7% ja näitab stabiliseerumist. Kulude vähendamine on olnud efektiivne ja aitanud II kvartalis vältida kahjumi teket. Bilanss Kontserni koguvarade maht oli 30.6.2009 seisuga 148,9 mln krooni/9,5 mln eurot (31.12.2008: 163,8 mln krooni/10,5 mln eurot), millest ettevõtte kohustused moodustasid 30.6.2009 seisuga 78,1 mln krooni/5,0 mln eurot (31.12.2008: 92,6 mln krooni/5,9 mln eurot) ehk 52% (31.12.2008: 57%). Nõuded ja ettemaksud on suurenenud 6,3 mln krooni/0,4 mln eurot, kasvades 6 kuuga 32%. Nõuete suurenemise peamiseks põhjuseks on väga nõrk müük 2008 aasta detsembris, mis vähendas detsembri lõpuks nõuete saldot oluliselt. Varud vähenesid 13,6 mln krooni/0,9 mln eurot, moodustades 30.6.2009 seisuga 54,5 mln krooni/3,5 mln eurot. Varude vähendamine on üks peamisi eesmärke kriisi ületamiseks ja likviidsuse tagamiseks. Materiaalne ja immateriaalne põhivara vähenes 3,7 mln krooni/0,2 mln eurot peamiselt kulumi tõttu. Lühiajalised laenukohustused olid seisuga 30.6.2009 12,8 mln krooni/0,8 mln eurot (31.12.2008: 17,7 mln krooni/1,1 mln eurot) ja vähenesid 6 kuuga kokku 4,9 mln krooni/0,3 mln eurot. Võlad hankijatele, maksukohustused, muud võlad, sh võlad töötajatele ja eraldised moodustasid 34,1 mln kooni/2,2 mln eurot (seisuga 31.12.2008 43,8 mln krooni/2,8 mln eurot). Lühi- ja pikaajalised kohustused kokku vähenesid 14,6 mln krooni/0,9 mln eurot 78,1 mln kroonini/5,0 mln euroni (31.12.2008: 92,6 mln krooni/5,9 mln eurot). kohustused kokku vähenesid 7,1 mln krooni/0,5 mln eurot 85,5 mln kroonini/5,5 mln euroni (31.12.2008 92,6 mln krooni 5,9 mln eurot). Ärivaldkondade ülevaade Käive segmentide lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | % käibest | -------------------------------------------------------------------------------- | | II kv. | II kv. | II kv. | II kv. | II kv. | II kv. | | | 2009 | 2008 | 2009 | 2008 | 2009 | 2008 | -------------------------------------------------------------------------------- | Mööblivabrik | 26 157 | 39 176 | 1 671 | 2 503 | 51,2% | 50,1% | -------------------------------------------------------------------------------- | Skano | 9 396 | 8 596 | 601 | 549 | 18,4% | 11,0% | -------------------------------------------------------------------------------- |Ehitusmaterjalide| 19 721 | 34 996 | 1 260 | 2 237 | 38,6% | 44,8% | | divisjon | | | | | | | -------------------------------------------------------------------------------- | Elimineerimine | (4 137) | (4 607) | (264) | (294) | (8,1%) | (5,9%) | -------------------------------------------------------------------------------- | KOKKU | 51 137 | 78 161 | 3 268 | 4 995 | 100,0% | 100,0% | -------------------------------------------------------------------------------- Käive turgude lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | % käibest | -------------------------------------------------------------------------------- | | II kv. | II kv. | II kv. | II kv. | II kv. | II kv. | | | 2009 | 2008 | 2009 | 2008 | 2009 | 2008 | -------------------------------------------------------------------------------- | Soome | 24 225 | 34 372 | 1 548 | 2 197 | 47,4% | 44,0% | -------------------------------------------------------------------------------- | Venemaa | 6 329 | 16 795 | 406 | 1 074 | 12,4% | 21,5% | -------------------------------------------------------------------------------- | Eesti | 9 421 | 15 194 | 602 | 971 | 18,4% | 19,4% | -------------------------------------------------------------------------------- | Ukraina | 2 788 | 1 862 | 178 | 119 | 5,5% | 2,4% | -------------------------------------------------------------------------------- | Leedu | 2 763 | 1 787 | 176 | 115 | 5,4% | 2,3% | -------------------------------------------------------------------------------- | Läti | 1 628 | 3 456 | 104 | 220 | 3,2% | 4,4% | -------------------------------------------------------------------------------- | Kasahstan | 1 125 | 578 | 72 | 37 | 2,2% | 0,7% | -------------------------------------------------------------------------------- | Rootsi | 877 | 2 147 | 56 | 137 | 1,7% | 2,7% | -------------------------------------------------------------------------------- | Saksamaa | 872 | 1 694 | 55 | 108 | 1,7% | 2,2% | -------------------------------------------------------------------------------- | Portugal | 781 | 0 | 50 | 0 | 1,5% | 0,0% | -------------------------------------------------------------------------------- | Teised riigid | 328 | 276 | 21 | 17 | 0,6% | 0,4% | -------------------------------------------------------------------------------- | KOKKU | 51 137 | 78 161 | 3 268 | 4 995 | 100,00% | 100,00% | -------------------------------------------------------------------------------- Turgude lõikes on käive vähenenud kõigil suurematel turgudel. Ukrainas on käibe kasvu põhjuseks 2008 aastal avatud kauplused, mis 2008 aasta I poolaastal olid veel käivitumisfaasis. Uuesti on alustatud müüki Portugali, suurenenud on müük Kasahstani. Müügi suurenemine Leedus on tingitud kaupluste kolimisest uutele pindadele eelmise aasta lõpul ja käesoleva aasta alguses. Brutokasum segmentide lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | -------------------------------------------------------------------------------- | | II kv. | II kv. | II kv. 2009 | II kv. 2008 | | | 2009 | 2008 | | | -------------------------------------------------------------------------------- | Mööblivabrik | 3 107 | 5 542 | 199 | 354 | -------------------------------------------------------------------------------- | Skano | 4 215 | 4 465 | 269 | 285 | -------------------------------------------------------------------------------- | Ehitusmaterjalide | 4 500 | 7 848 | 288 | 502 | | divisjon | | | | | -------------------------------------------------------------------------------- | Elimineerimine | (10) | (131) | (1) | (8) | -------------------------------------------------------------------------------- | KOKKU | 11 812 | 17 724 | 755 | 1 133 | -------------------------------------------------------------------------------- Ehitusmaterjalide divisjonis on brutokasum kahanenud peamiselt muutuste tõttu tooteportfellis ja väikese tootmismahu ning toodete omahinna kasvust, mis on tingitud suhteliselt suurest püsikulude osakaalust. Kasum segmentide lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | -------------------------------------------------------------------------------- | | II kv. | II kv. | II kv. 2009 | II kv. 2008 | | | 2009 | 2008 | | | -------------------------------------------------------------------------------- | Mööblivabrik | 1 579 | 3 198 | 101 | 204 | -------------------------------------------------------------------------------- | Skano | (1 609) | (972) | (103) | (63) | -------------------------------------------------------------------------------- | Ehitusmaterjalide | 636 | 3 510 | 41 | 225 | | divisjon | | | | | -------------------------------------------------------------------------------- | Elimineerimine | 208 | (133) | 13 | (8) | -------------------------------------------------------------------------------- | KOKKU | 814 | 5 603 | 52 | 358 | -------------------------------------------------------------------------------- | Neto finantskulud | (732) | (930) | (47) | (59) | -------------------------------------------------------------------------------- | KASUM ENNE TULUMAKSU | 82 | 4 673 | 5 | 299 | -------------------------------------------------------------------------------- | Tulumaks | 0 | (1 674) | 0 | (107) | -------------------------------------------------------------------------------- | PUHASKASUM | 82 | 2 999 | 5 | 192 | -------------------------------------------------------------------------------- Mööblidivisjon Viisnurga mööblidivisjoni 2009 aasta II kvartali müügitulu oli 31,5 mln krooni/2,0 mln eurot (2008: 43,2 mln krooni/2,8 mln eurot) ning majandustulemus 0,2 mln krooni/14 tuhat eurot kahjumit (2008: 1,7 mln krooni/111 tuhat eurot kasumit). Võrreldes eelmise aasta II kvartaliga on divisjoni käive vähenenud 11,7 mln krooni/472 tuhat eurot ehk 26,9%. Mööbli jaemüük - Skano AS Viisnurga jaeäri opereerivad OÜ Skano ja selle tütarfirmad Lätis, Leedus ja Ukrainas. Seisuga 30.6.2009 on Skano mööblikaupluste ketis kokku 10 kauplust Tallinnas, Pärnus, Riias, Vilniuses, Kaunases, Klaipedas, Kiievis, Donetskis, Harkovis ja Odessas. Seoses jaheneva majanduskliimaga on esialgne uute kaupluste avamisplaan külmutatud. Jaemüük riikide lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | % käibest | Kaupluste arv | -------------------------------------------------------------------------------- | | II kv.| II kv.|II kv.| II kv. | II kv. | II kv. | 30.6.09 | 30.6.08 | | | 2009 | 2008 | 2009 | 2008 | 2009 | 2008 | | | -------------------------------------------------------------------------------- | Eesti | 2 878 | 3 248 | 184 | 208 | 30,6% | 37,8% | 2 | 2 | -------------------------------------------------------------------------------- | Läti | 1 149 | 2 634 | 73 | 168 | 12,2% | 30,6% | 1 | 1 | -------------------------------------------------------------------------------- | Leedu | 2 585 | 1 697 | 165 | 108 | 27,5% | 19,7% | 3 | 3 | -------------------------------------------------------------------------------- | Ukrain | 2 784 | 1 018 | 178 | 65 | 29,6% | 11,8% | 4 | 4 | | a | | | | | | | | | -------------------------------------------------------------------------------- | KOKKU | 9 396 | 8 597 | 600 | 549 | 100,0% | 100,0% | 10 | 10 | -------------------------------------------------------------------------------- Mööblidivisjoni jaemüük on enim vähenenud Lätis. Ukraina müük on suurenenud peamiselt kaupluste arvu kasvu tõttu. 2009 aasta II kvartalis on jaemüük suurenenud 9,3% võrreldes eelmise aasta sama perioodiga. Mööbli tootmine Mööblivabriku 2009 aasta II kvartali müük on mõlemal põhiturul Soomes ja Venemaal vähenenud ja kliendid ei prognoosi ka lähitulevikus müügi kasvu taastumist. Mööblivabriku müük riikide lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | % käibest | -------------------------------------------------------------------------------- | | II kv. | II kv. | II kv. | II kv. | II kv. | II kv. | | | 2009 | 2008 | 2009 | 2008 | 2009 | 2008 | -------------------------------------------------------------------------------- | Soome | 14 868 | 17 492 | 950 | 1118 | 56,8% | 44,6% | -------------------------------------------------------------------------------- | Venemaa | 5 296 | 14 825 | 338 | 947 | 20,2% | 37,8% | -------------------------------------------------------------------------------- | Kasahstan | 1 125 | 578 | 72 | 37 | 4,3% | 1,5% | -------------------------------------------------------------------------------- | Saksamaa | 382 | 1 085 | 24 | 69 | 1,5% | 2,8% | -------------------------------------------------------------------------------- | Muud | 349 | 589 | 22 | 38 | 1,3% | 1,5% | -------------------------------------------------------------------------------- | Tütarettevõtt | 4 137 | 4 607 | 263 | 294 | 15,8% | 11,8% | | ed | | | | | | | -------------------------------------------------------------------------------- | KOKKU | 26 157 | 39 176 | 1 669 | 2 503 | 100,0% | 100,0% | -------------------------------------------------------------------------------- Ehitusmaterjalide divisjon Ehitusmaterjalide divisjonis saavutati 2009 aasta II kvartali müügituluks 19,7 mln krooni/1,3 mln eurot ja kasumiks 0,6 mln krooni/41 tuhat eurot. Eelmise aasta samal perioodil oli divisjoni käive 35,0 mln krooni/2,2 mln eurot ja kasum 3,5 mln krooni/225 tuhat eurot. Võrreldes eelmise aasta sama perioodiga on divisjoni käive vähenenud 15,3 mln krooni/977 tuhat eurot ja kasum vähenenud 2,9 mln krooni/184 tuhat eurot. Käive piirkondade lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | % käibest | -------------------------------------------------------------------------------- | | II kv. | II kv. | II kv. | II kv. | II kv. | II kv. | | | 2009 | 2008 | 2009 | 2008 | 2009 | 2008 | -------------------------------------------------------------------------------- | Soome | 9 357 | 16 880 | 598 | 1079 | 47,4% | 48,2% | -------------------------------------------------------------------------------- | Eesti | 6 271 | 11 409 | 401 | 729 | 31,8% | 32,6% | -------------------------------------------------------------------------------- | Portugal | 1 033 | 1 970 | 66 | 126 | 5,2% | 5,6% | -------------------------------------------------------------------------------- | Venemaa | 877 | 2 147 | 56 | 137 | 4,4% | 6,1% | -------------------------------------------------------------------------------- | Läti | 781 | 0 | 50 | 0 | 4,0% | 0,0% | -------------------------------------------------------------------------------- | Rootsi | 490 | 609 | 31 | 39 | 2,5% | 1,7% | -------------------------------------------------------------------------------- | Saksamaa | 479 | 822 | 31 | 53 | 2,4% | 2,3% | -------------------------------------------------------------------------------- | Leedu | 179 | 90 | 11 | 6 | 0,9% | 0,3% | -------------------------------------------------------------------------------- | Ukraina | 4 | 844 | 0 | 54 | 0,0% | 2,4% | -------------------------------------------------------------------------------- | Teised riigid | 250 | 225 | 16 | 14 | 1,3% | 0,6% | -------------------------------------------------------------------------------- | KOKKU | 19 721 | 34 996 | 1 260 | 2 237 | 100,0% | 100,0% | -------------------------------------------------------------------------------- Üldehitusplaadid Üldehitusplaatidest oli kõige suurema müügi osakaaluga tooteks tuuletõkkeplaadid. Võrreldes möödunud aastaga on kõige suurem langus selles tooterühmas. See on tingitud kahe selle toote sihtturu Eesti ja Soome ehitusturu mahu vähenemisest. Väljaspoole ehitussektorit müüdud toodete osakaal oli võrreldes möödunud aastaga praktiliselt sama. Siseviimistlusplaadid Isotex siseviimistlusplaatide suurimaks turuks jäi II kvartalis Soome. Müügimaht on kõige vähem kukkunud Soomes, suurem kukkumine on Eestis ja Venemaal. Tootmisvõimsuse potentsiaali ärakasutamiseks jätkuvad tegevused uute turgude leidmiseks. Konsolideeritud bilanss -------------------------------------------------------------------------------- | | tuh EEK | tuh EEK | tuh EUR | tuh EUR | -------------------------------------------------------------------------------- | | 30.6.2009 | 31.12.2008 | 30.6.2009 | 31.12.2008 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Raha | 3 014 | 6 913 | 193 | 442 | -------------------------------------------------------------------------------- | Nõuded ja ettemaksud | 25 821 | 19 568 | 1 650 | 1 250 | -------------------------------------------------------------------------------- | Varud | 54 465 | 68 096 | 3 481 | 4 351 | -------------------------------------------------------------------------------- | Käibevara kokku | 83 300 | 94 577 | 5 324 | 6 043 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kinnisvarainvesteeringud | 2 893 | 2 893 | 185 | 185 | -------------------------------------------------------------------------------- | Materiaalne põhivara | 62 680 | 66 333 | 4 006 | 4 239 | -------------------------------------------------------------------------------- | Immateriaalne põhivara | 17 | 21 | 1 | 1 | -------------------------------------------------------------------------------- | Põhivara kokku | 65 590 | 69 247 | 4 192 | 4 425 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | AKTIVA KOKKU | 148 890 | 163 824 | 9 516 | 10 468 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Laenukohustused | 12 799 | 17 722 | 818 | 1 132 | -------------------------------------------------------------------------------- | Võlad ja ettemaksed | 34 070 | 43 646 | 2 178 | 2 790 | -------------------------------------------------------------------------------- | Lühiajalised eraldised | 48 | 115 | 3 | 7 | -------------------------------------------------------------------------------- | Lühiajalised kohustused | 46 917 | 61 483 | 2 999 | 3 929 | | kokku | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Pikaajalised | 27 720 | 27 720 | 1 772 | 1 772 | | laenukohustused | | | | | -------------------------------------------------------------------------------- | Pikaajalised eraldised | 3 421 | 3 421 | 219 | 219 | -------------------------------------------------------------------------------- | Pikaajalised kohustused | 31 141 | 31 141 | 1 991 | 1 991 | | kokku | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kohustused kokku | 78 058 | 92 624 | 4 990 | 5 920 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Aktsiakapital | 44 991 | 44 991 | 2 875 | 2 875 | | nimiväärtuses | | | | | -------------------------------------------------------------------------------- | Ülekurss | 5 698 | 5 698 | 364 | 364 | -------------------------------------------------------------------------------- | Kohustuslik | 4 499 | 4 499 | 288 | 288 | | reservkapital | | | | | -------------------------------------------------------------------------------- | Muud reservid | 476 | 253 | 30 | 14 | -------------------------------------------------------------------------------- | Eelmiste perioodide | 15 759 | 9 717 | 1 007 | 621 | | jaotamata kasum | | | | | -------------------------------------------------------------------------------- | Aruandeaasta kasum | (591) | 6 042 | (38) | 386 | -------------------------------------------------------------------------------- | Omakapital kokku | 70 832 | 71 200 | 4 526 | 4 548 | | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | PASSIVA KOKKU | 148 890 | 163 824 | 9 516 | 10 468 | -------------------------------------------------------------------------------- Konsolideeritud kasumiaruanne -------------------------------------------------------------------------------- | tuh EEK | II kvartal | II kvartal | 6 kuud | 6 kuud | | | 2009 | 2008 kor- | 2009 | 2008 kor- | | | | rigeeritud | | rigeeritud | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müügitulu | 51 137 | 78 161 | 104 223 | 152 028 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müüdud toodangu kulu | (39 325) | (60 437) | (82 052) | (116 621) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Brutokasum | 11 812 | 17 724 | 22 171 | 35 407 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Turustuskulud | (8 937) | (11 025) | (17 816) | (20 947) | -------------------------------------------------------------------------------- | Üldhalduskulud | (1 517) | (1 673) | (3 032) | (3 258) | -------------------------------------------------------------------------------- | Muud äritulud | 275 | 1 079 | 1 332 | 1 258 | | | | | | | -------------------------------------------------------------------------------- | Muud ärikulud | (820) | (501) | (1 576) | (936) | | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Ärikasum | 813 | 5 604 | 1 079 | 11 524 | -------------------------------------------------------------------------------- | Neto finantskulu | (731) | (931) | (1 670) | (1 718) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum/kahjum enne | 82 | 4 673 | (591) | 9 806 | | tulumaksu | | | | | -------------------------------------------------------------------------------- | Dividendide tulumaks | 0 | (1 674) | 0 | (1 674) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Perioodi kasum/kahjum | 82 | 2 999 | (591) | 8 132 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Valuutakursside muutuste | 346 | 988 | 223 | 1 076 | | mõju konsolideerimisel | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Perioodi | 428 | 3 987 | (368) | 9 208 | | koondkasum/kahjum | | | | | -------------------------------------------------------------------------------- | Tava puhaskasum aktsia | 0,02 | 0,67 | (0,13) | 1,81 | | kohta | | | | | -------------------------------------------------------------------------------- | Lahustatud puhaskasum | 0,02 | 0,67 | (0,13) | 1,81 | | aktsia kohta | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | tuh EUR | II kvartal | II kvartal | 6 kuud | 6 kuud | | | 2009 | 2008 kor- | 2009 | 2008 kor- | | | | rigeeritud | | rigeeritud | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müügitulu | 3 268 | 4 995 | 6 661 | 9 716 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müüdud toodangu kulu | (2 513) | (3 863) | (5 244) | (7 454) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Brutokasum | 755 | 1 132 | 1 417 | 2 262 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Turustuskulud | (571) | (704) | (1 138) | (1 338) | -------------------------------------------------------------------------------- | Üldhalduskulud | (97) | (107) | (194) | (208) | -------------------------------------------------------------------------------- | Muud äritulud | 17 | 69 | 85 | 80 | | | | | | | -------------------------------------------------------------------------------- | Muud ärikulud | (52) | (32) | (101) | (60) | | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Ärikasum | 52 | 358 | 69 | 736 | -------------------------------------------------------------------------------- | Neto finantskulu | (47) | (59) | (107) | (109) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum/kahjum enne | 5 | 299 | (38) | 627 | | tulumaksu | | | | | -------------------------------------------------------------------------------- | Dividendide tulumaks | 0 | (107) | 0 | (107) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Perioodi kasum/kahjum | 5 | 192 | (38) | 520 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Valuutakursside muutuste | 22 | 63 | 16 | 68 | | mõju konsolideerimisel | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Perioodi | 27 | 255 | (22) | 588 | | koondkasum/kahjum | | | | | -------------------------------------------------------------------------------- | Tava puhaskasum aktsia | 0,00 | 0,04 | (0,01) | 0,12 | | kohta | | | | | -------------------------------------------------------------------------------- | Lahustatud puhaskasum | 0,00 | 0,04 | (0,01) | 0,12 | | aktsia kohta | | | | | -------------------------------------------------------------------------------- Einar Pähkel Finantsdirektor 447 8331 einar.pahkel@viisnurk.ee
Title
Viisnurk financial result, 6 months of 2009
Message
Income statement
Despite of difficult economical situation in target markets and considerable
sales decrease, the Group had positive economic result in second quarter.
Consolidated net profit in Q2 amounted to 82 thousand kroons/5 thousand euros
(2008: 3.0 mil. kroons/192 thousand euros), and the net margin was 0.2% (down
from 3.8% in Q2 2008). In Q2 2009, the Group's return on equity was 0.0% (down
from 4.0% in Q2 2008) and return on assets was 0.0% (down from 1.6% in Q2 2008).
Consolidated net sales of second quarter 2009 was 51.1 mil. kroons/3.3 mil.
euros (78.2 mil. kroons/5.0 mil. euros in same period of 2008) representing a
34.6% decrease on the second quarter compared to Q2 2008. The Group's gross
margin in the second quarter of 2009 was 23.1% compared to 22.7% in the second
quarter of 2008. Consolidated operating profit amounted to 0.8 mil. kroons/52
thousand euros (5.6 mil. kroons/358 thousand euros in 2008), representing a
85.5% down compared to Q2 2008. The consolidated operating margin of net sales
was 1.6% (down from 7.2% in Q2 2008). Profit before tax amounted to 82.0
thousand kroons/5 thousand euros in Q2 2009 (4.7 mil. kroons/299 thousand euros
in Q2 2008).
In 2009 dividends were not distributed. The same period in 2008, dividends were
distributed in the amount of 6.3 mil. kroons/0.4 mil. euros, i.e. 1 kroon 40
cents/8.95 euro cents per share. Corresponding income tax expense in 2008
amounted to 1.7 mil. kroons/107 thousand euros.
The main reason for low sales is continuing cool economical situation in target
markets. Compared to Q1, sales decreased only 3.7% and indicate stabilization.
Lowering of costs has been effective and helped avoid loss in second quarter.
Balance sheet
As of the end of June 2009 the total assets of Viisnurk amounted to 148.9 mil.
kroons/9.5 mil. euros (31.12.2008: 163.8 mil. kroons/10.5 mil. euros). The
liabilities of the company accounted for 52% (31.12.2008: 57%) thereof, i.e.
78.1 mil. kroons/5.0 mil. euros (31.12.2008: 92.6 mil. kroons/5.9 mil. euros).
Receivables and prepayments have increased by 6.3 mil. kroons/0.4 mil. euros
i.e. 32% increase with 6 months. The reason of increase of receivables is very
small sales in December 2008, which essentially lowered the amount of
receivables at the end of December.
Inventories decreased by 13.6 mil. kroons/0.9 mil. euros to reach 54.5 mil.
kroons/3.5 mil euros at 30 June 2009 (31.12.2008: 68,1 mil. kroons/4,4 mil.
euros). The decrease of amount of inventory is one of the main targets to pass
crisis and assure liquidity. Property, plant and intangibles decreased by 3.7
mil. kroons/0.2 mil. euros mainly caused by depreciation.
Current liabilities decreased by 4.9 mil. kroons/0.3 mil euros and amounted in
30 June 2009 12.8 mil. kroons/0.8 mil. euros (31.12.2008: 17.7 mil. kroons/1.1
mil. euros). Supplier payables, tax liabilities, other payables, including
payables to employees, and provisions amounted to 34.1 mil. kroons/2.2 mil.
euros (31.12.2008: 43.8 mil. kroons/2.8 mil. euros). Current and non-current
liabilities decreased by 14.6 mil. kroons/0.9 mil. euros to 78.1 mil. kroons/5.0
mil. euros (31.12.2008: 92.6 mil. euros/5.9 mil kroons).
Divisional review:
Net sales by business segments
--------------------------------------------------------------------------------
| | th. EEK | th. EUR | % of net sales |
--------------------------------------------------------------------------------
| | Q2 2009 | Q2 2008 | Q2 2009 | Q2 2008 | Q2 2009 | Q2 2008 |
--------------------------------------------------------------------------------
| Furniture | 26,157 | 39,176 | 1,671 | 2,503 | 51.2% | 50.1% |
| Factory | | | | | | |
--------------------------------------------------------------------------------
| Skano | 9,396 | 8,596 | 601 | 549 | 18.4% | 11.0% |
--------------------------------------------------------------------------------
| Building | 19,721 | 34,996 | 1,260 | 2,237 | 38.6% | 44.8% |
| Materials | | | | | | |
| Division | | | | | | |
--------------------------------------------------------------------------------
| Elimination | (4,137) | (4,607) | (264) | (294) | (8.1%) | (5.9%) |
--------------------------------------------------------------------------------
| TOTAL | 51,137 | 78,161 | 3,268 | 4,995 | 100.0% | 100.0% |
--------------------------------------------------------------------------------
Net sales by geographical segments
--------------------------------------------------------------------------------
| | th. EEK | th. EUR | % of net sales |
--------------------------------------------------------------------------------
| | Q2 2009 | Q2 2008 | Q2 2009 | Q2 2008 | Q2 2009 | Q2 2008 |
--------------------------------------------------------------------------------
| Finland | 24,225 | 34,372 | 1,548 | 2,197 | 47.4% | 44.0% |
--------------------------------------------------------------------------------
| Russia | 6,329 | 16,795 | 406 | 1,074 | 12.4% | 21.5% |
--------------------------------------------------------------------------------
| Estonia | 9,421 | 15,194 | 602 | 971 | 18.4% | 19.4% |
--------------------------------------------------------------------------------
| Ukraine | 2,788 | 1,862 | 178 | 119 | 5.5% | 2.4% |
--------------------------------------------------------------------------------
| Lithuania | 2,763 | 1,787 | 176 | 115 | 5.4% | 2.3% |
--------------------------------------------------------------------------------
| Latvia | 1,628 | 3,456 | 104 | 220 | 3.2% | 4.4% |
--------------------------------------------------------------------------------
| Kazakhstan | 1,125 | 578 | 72 | 37 | 2.2% | 0.7% |
--------------------------------------------------------------------------------
| Sweden | 877 | 2,147 | 56 | 137 | 1.7% | 2.7% |
--------------------------------------------------------------------------------
| Germany | 872 | 1,694 | 55 | 108 | 1.7% | 2.2% |
--------------------------------------------------------------------------------
| Portugal | 781 | 0 | 50 | 0 | 1.5% | 0.0% |
--------------------------------------------------------------------------------
| Other countries | 328 | 276 | 21 | 17 | 0.6% | 0.4% |
--------------------------------------------------------------------------------
| TOTAL | 51,137 | 78,161 | 3,268 | 4,995 | 100.00% | 100.00% |
--------------------------------------------------------------------------------
Concerning the markets, turnover has been decreased in all bigger markets.
Stores opened in 2008, which were in first half year of 2008 in launching mode,
cause the increase of sales in Ukraine. The sales into Portugal is restarted and
sales to Kazakhstan is increased. Sales in Lithuania increased after removing
the stores onto new premises at the end of 2008 and beginning of 2009.
Gross profit by business segments
--------------------------------------------------------------------------------
| | th. EEK | th. EUR |
--------------------------------------------------------------------------------
| | Q2 2009 | Q2 2008 | Q2 2009 | Q2 2008 |
--------------------------------------------------------------------------------
| Furniture Factory | 3,107 | 5,542 | 199 | 354 |
--------------------------------------------------------------------------------
| Skano | 4,215 | 4,465 | 269 | 285 |
--------------------------------------------------------------------------------
| Building Materials | 4,500 | 7,848 | 288 | 502 |
| Division | | | | |
--------------------------------------------------------------------------------
| Elimination | (10) | (131) | (1) | (8) |
--------------------------------------------------------------------------------
| TOTAL | 11,812 | 17,724 | 755 | 1,133 |
--------------------------------------------------------------------------------
The main reason for decreased gross margin in Building Material Division is
changes in product portfolio and growth of cost value due to small production
volume and big fixed costs.
Profit by business segments
--------------------------------------------------------------------------------
| | th. EEK | th. EUR |
--------------------------------------------------------------------------------
| | Q2 2009 | Q2 2008 | Q2 2009 | Q2 2008 |
--------------------------------------------------------------------------------
| Furniture Factory | 1,579 | 3,198 | 101 | 204 |
--------------------------------------------------------------------------------
| Skano | (1,609) | (972) | (103) | (63) |
--------------------------------------------------------------------------------
| Building Materials | 636 | 3,510 | 41 | 225 |
| Division | | | | |
--------------------------------------------------------------------------------
| Elimination | 208 | (133) | 13 | (8) |
--------------------------------------------------------------------------------
| TOTAL | 814 | 5,603 | 52 | 358 |
--------------------------------------------------------------------------------
| Net financial costs | (732) | (930) | (47) | (59) |
--------------------------------------------------------------------------------
| PROFIT BEFORE TAXES | 82 | 4,673 | 5 | 299 |
--------------------------------------------------------------------------------
| Income tax | 0 | (1,674) | 0 | (107) |
--------------------------------------------------------------------------------
| NET PROFIT | 82 | 2,999 | 5 | 192 |
--------------------------------------------------------------------------------
Furniture Division
The net sales of AS Viisnurk Furniture Division in second quarter amounted to
31.5 mil. kroons/2.0 mil. euros (2008: 43.2 mil. kroons/2.8 mil. euros) and the
economic result 0.2 mil. kroons/14 thousand euros as a profit (2008 profit 1.7
mil. kroons/111 thousand euros). As compared to the Q2 of previous year the
turnover of the division has decreased by 11.7 mil. kroons/472 thousand euros
(26.9%).
Furniture Retail - Skano
AS Viisnurk retail business is operated by a private limited company OÜ Skano
and its subsidiaries in Latvia, Lithuania and Ukraine. Skano has totally 10
stores in Tallinn, Pärnu, Riga, Vilnius, Kaunas, Klaipeda, Kiev, Donetsk,
Kharkiv and Odessa at the end of the second quarter.
As a result of unexpected economical situation, openings of new stores are
freezed.
Retail sales by countries
--------------------------------------------------------------------------------
| | th. EEK | th. EUR | % of net sales | Number of |
| | | | | stores |
--------------------------------------------------------------------------------
| |Q2 2009|Q2 2008|Q2 2009|Q2 2008 | Q2 2009| Q2 2008| 30.6.09| 30.6.08|
--------------------------------------------------------------------------------
| Estonia | 2,878 | 3,248 | 184 | 208 | 30.6% | 37.8% | 2 | 2 |
--------------------------------------------------------------------------------
| Latvia | 1,149 | 2,634 | 73 | 168 | 12.2% | 30.6% | 1 | 1 |
--------------------------------------------------------------------------------
|Lithuania| 2,585 | 1,697 | 165 | 108 | 27.5% | 19.7% | 3 | 3 |
--------------------------------------------------------------------------------
| Ukraine | 2,784 | 1,018 | 178 | 65 | 29.6% | 11.8% | 4 | 4 |
--------------------------------------------------------------------------------
| TOTAL | 9,396 | 8,597 | 600 | 549 | 100.0% | 100.0% | 10 | 10 |
--------------------------------------------------------------------------------
The retail sale of the Furniture Division decreased most in Latvia. The sale in
Ukraine has increased due to stores opened in 2008. Within the second quarter
this year the retail sale has increased by 9.3% as compared to the same period
last year.
Furniture Factory
The Furniture Factory's sales in the second quarter in the company's basic
target market in Russia and Finland have decreased and clients does not estimate
sales recovering in near future.
Furniture Factory sales by countries
--------------------------------------------------------------------------------
| | th EEK | th EUR | % of net sales |
--------------------------------------------------------------------------------
| | Q2 2009 | Q2 2008 | Q2 2009 | Q2 2008 | Q2 2009 | Q2 2008 |
--------------------------------------------------------------------------------
| Finland | 14,868 | 17,492 | 950 | 1118 | 56.8% | 44.6% |
--------------------------------------------------------------------------------
| Russia | 5,296 | 14,825 | 338 | 947 | 20.2% | 37.8% |
--------------------------------------------------------------------------------
| Kazakhstan | 1,125 | 578 | 72 | 37 | 4.3% | 1.5% |
--------------------------------------------------------------------------------
| Germany | 382 | 1,085 | 24 | 69 | 1.5% | 2.8% |
--------------------------------------------------------------------------------
| Others | 349 | 589 | 22 | 38 | 1.3% | 1.5% |
--------------------------------------------------------------------------------
| Subsidiaries| 4,137 | 4,607 | 263 | 294 | 15.8% | 11.8% |
--------------------------------------------------------------------------------
| TOTAL | 26,157 | 39,176 | 1,669 | 2,503 | 100.0% | 100.0% |
--------------------------------------------------------------------------------
Building Materials Division
The net sales of the Building Materials Division in second quarter amounted to
19.7 mil. kroons/1.3 mil. euros and profit to 0.6 mil. kroons/41 thousand euros.
In the same period of the last year, the turnover of the division totalled 35.0
mil. kroons/2.2 mil. euros and the net profit 3.5 mil. kroons/225 thousand
euros. As compared to the previous year the turnover of the division has
decreased by 15.3 mil. kroons/977 thousand euros and the profit has decreased by
2.9 mil. kroons/184 thousand euros.
Net sales by geographical segments
--------------------------------------------------------------------------------
| | th. EEK | th. EUR | % of net sales |
--------------------------------------------------------------------------------
| | Q2 2009 | Q2 2008 | Q2 2009 | Q2 2008 | Q2 2009 | Q2 2008 |
--------------------------------------------------------------------------------
| Finland | 9,357 | 16,880 | 598 | 1,079 | 47.4% | 48.2% |
--------------------------------------------------------------------------------
| Estonia | 6,271 | 11,409 | 401 | 729 | 31.8% | 32.6% |
--------------------------------------------------------------------------------
| Russia | 1,033 | 1,970 | 66 | 126 | 5.2% | 5.6% |
--------------------------------------------------------------------------------
| Sweden | 877 | 2,147 | 56 | 137 | 4.4% | 6.1% |
--------------------------------------------------------------------------------
| Portugal | 781 | 0 | 50 | 0 | 4.0% | 0.0% |
--------------------------------------------------------------------------------
| Germany | 490 | 609 | 31 | 39 | 2.5% | 1.7% |
--------------------------------------------------------------------------------
| Latvia | 479 | 822 | 31 | 53 | 2.4% | 2.3% |
--------------------------------------------------------------------------------
| Lithuania | 179 | 90 | 11 | 6 | 0.9% | 0.3% |
--------------------------------------------------------------------------------
| Ukraine | 4 | 844 | 0 | 54 | 0.0% | 2.4% |
--------------------------------------------------------------------------------
| Other countries | 250 | 225 | 16 | 14 | 1.3% | 0.6% |
--------------------------------------------------------------------------------
| TOTAL | 19,721 | 34,996 | 1,260 | 2,237 | 100.0% | 100.0% |
--------------------------------------------------------------------------------
Building Boards
The product group that makes up the biggest proportion in general building
boards are wind protection boards. Compared to last year, decrease of sales is
the biggest in this segment. This is caused by decrease of the building sector
in Estonia and Finland, two main markets for the product. Sale of products to
companies operating outside the building sector is same as previous year.
Interior Finishing Boards
The biggest market of Isotex interior finishing boards in the second quarter was
Finland. The smallest decrease of sales was in Finland, bigger decrease was in
Estonia and Russia. In connection with the increase of production capacity
potential, activities have been continued in order to find new markets.
Consolidated balance sheet
--------------------------------------------------------------------------------
| | Th EEK | Th EEK | Th EUR | Th EUR |
--------------------------------------------------------------------------------
| | 30.6.2009 | 31.12.2008| 30.6.2009 | 31.12.2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash and bank | 3,014 | 6,913 | 193 | 442 |
--------------------------------------------------------------------------------
| Receivables and | 25,821 | 19,568 | 1,650 | 1,250 |
| prepayments | | | | |
--------------------------------------------------------------------------------
| Inventories | 54,465 | 68,096 | 3,481 | 4,351 |
--------------------------------------------------------------------------------
| Total current assets | 83,300 | 94,577 | 5,324 | 6,043 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Investment property | 2,893 | 2,893 | 185 | 185 |
--------------------------------------------------------------------------------
| Tangible fixed assets | 62,680 | 66,333 | 4,006 | 4,239 |
--------------------------------------------------------------------------------
| Intangible fixed assets | 17 | 21 | 1 | 1 |
--------------------------------------------------------------------------------
| Total fixed assets | 65,590 | 69,247 | 4,192 | 4,425 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| TOTAL ASSETS | 189,238 | 163,824 | 9,516 | 10,468 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Debt obligations | 12,799 | 17,722 | 818 | 1,132 |
--------------------------------------------------------------------------------
| Payables and prepayments | 34,070 | 43,646 | 2,178 | 2,790 |
--------------------------------------------------------------------------------
| Short-term provisions | 48 | 115 | 3 | 7 |
--------------------------------------------------------------------------------
| Total current liabilities | 46,917 | 61,483 | 2,999 | 3,929 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Non-current debt | 27,720 | 27,720 | 1,772 | 1,772 |
| obligations | | | | |
--------------------------------------------------------------------------------
| Non-current provisions | 3,421 | 3,421 | 219 | 219 |
--------------------------------------------------------------------------------
| Total non-current | 31,141 | 31,141 | 1,991 | 1,991 |
| liabilities | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total liabilities | 78,058 | 92,624 | 4,990 | 5,920 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Share capital at nominal | 44,991 | 44,991 | 2,875 | 2,875 |
| value | | | | |
--------------------------------------------------------------------------------
| Issue premium | 5,698 | 5,698 | 364 | 364 |
--------------------------------------------------------------------------------
| Statutory capital reserve | 4,499 | 4,499 | 288 | 288 |
--------------------------------------------------------------------------------
| Currency translation | 476 | 253 | 30 | 14 |
| reserve | | | | |
--------------------------------------------------------------------------------
| Retained profits | 15,759 | 9,717 | 1,007 | 621 |
--------------------------------------------------------------------------------
| Net profit for the year | (591) | 6,042 | (38) | 386 |
--------------------------------------------------------------------------------
| Total equity | 70,832 | 71,200 | 4,526 | 4,548 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| TOTAL LIABILITIES AND | 148,890 | 163,824 | 9,516 | 10,468 |
| EQUITY | | | | |
--------------------------------------------------------------------------------
Consolidated income statement
--------------------------------------------------------------------------------
| Th EEK | Q2 2009 | Q2 2008 | 6 m 2009 | 6 m 2008 |
| | | (adjusted) | | (adjusted) |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| RETURN ON SALES | 51,137 | 78,161 | 104,223 | 152,028 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cost of production sold | (39,325) | (60,437) | (82,052) | (116,621) |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Gross profit | 11,812 | 17,724 | 22,171 | 35,407 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Marketing expenses | (8,937) | (11,025) | (17,816) | (20,947) |
--------------------------------------------------------------------------------
| General administrative | (1,517) | (1,673) | (3,032) | (3,258) |
| expenses | | | | |
--------------------------------------------------------------------------------
| Other income | 275 | 1,079 | 1,332 | 1,258 |
--------------------------------------------------------------------------------
| Other expenses | (820) | (501) | (1,576) | (936) |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit | 813 | 5,604 | 1,079 | 11,524 |
--------------------------------------------------------------------------------
| Financial income and | (731) | (931) | (1,670) | (1,718) |
| financial expenses | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit/loss before taxes | 82 | 4,673 | (591) | 9,806 |
--------------------------------------------------------------------------------
| Prepaid income tax | 0 | (1,674) | 0 | (1,674) |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| PROFIT/LOSS FOR THE | 82 | 2,999 | (591) | 8,132 |
| PERIOD | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Currency translation | 346 | 988 | 223 | 1,076 |
| differences | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| TOTAL COMPREHENSIVE | 428 | 3,987 | (368) | 9,208 |
| INCOME | | | | |
--------------------------------------------------------------------------------
| Basic earnings per share | 0.02 | 0.67 | (0.13) | 1.81 |
--------------------------------------------------------------------------------
| Diluted earnings per | 0.02 | 0.67 | (0.13) | 1.81 |
| share | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Th EUR | Q2 2009 | Q2 2008 | 6 m 2009 | 6 m 2008 |
| | | (adjusted) | | (adjusted) |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| RETURN ON SALES | 3,268 | 4,995 | 6,661 | 9,716 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cost of production sold | (2,513) | (3,863) | (5,244) | (7,454) |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Gross profit | 755 | 1,132 | 1,417 | 2,262 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Marketing expenses | (571) | (704) | (1,138) | (1,338) |
--------------------------------------------------------------------------------
| General administrative | (97) | (107) | (194) | (208) |
| expenses | | | | |
--------------------------------------------------------------------------------
| Other income | 17 | 69 | 85 | 80 |
--------------------------------------------------------------------------------
| Other expenses | (52) | (32) | (101) | (60) |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit | 52 | 358 | 69 | 736 |
--------------------------------------------------------------------------------
| Financial income and | (47) | (59) | (107) | (109) |
| financial expenses | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit/loss before taxes | 5 | 299 | (38) | 627 |
--------------------------------------------------------------------------------
| Prepaid income tax | 0 | (107) | 0 | (107) |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| PROFIT/LOSS FOR THE | 5 | 192 | (38) | 520 |
| PERIOD | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Currency translation | 22 | 63 | 16 | 68 |
| differences | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| TOTAL COMPREHENSIVE | 27 | 255 | (22) | 588 |
| INCOME | | | | |
--------------------------------------------------------------------------------
| Basic earnings per share | 0.00 | 0.04 | (0.01) | 0.12 |
--------------------------------------------------------------------------------
| Diluted earnings per | 0.00 | 0.04 | (0.01) | 0.12 |
| share | | | | |
--------------------------------------------------------------------------------
Einar Pähkel
CFO
+372 447 8331
einar.pahkel@viisnurk.ee