Market announcement
Nordic Fibreboard AS
LEI code
54930002HOIXBD15OM06
Size of the entity
Small group
Economic activities
Financial and Insurance Activities
Country of registered office
Estonia
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
2510
Attachments
Submission date and time
27.11.2009 16:05:00
Content of announcement in Estonian
Title
Viisnurk majandustulemused, 9 kuud 2009
Message
Kasum Aruandeaasta III kvartali müügitulu oli 47,4 mln krooni/3,0 mln eurot (2008 aastal 66,0 mln krooni/4,2 mln eurot) mis tähendab 2008 aasta III kvartaliga võrreldes 28,1%-list kahanemist. Kontserni müügikäibe brutorentaablus oli 2009 aasta III kvartalis 19,9% võrrelduna 2008 aasta III kvartali 21,7%-ga. Konsolideeritud ärikahjum oli 0,8 mln krooni/53 tuhat eurot (2008 aastal ärikasum 3,5 mln krooni/223 tuhat eurot). Konsolideeritud müügikäibe ärirentaablus oli -1,7% (võrrelduna 2008 aasta III kvartali 5,3%-ga). Konsolideeritud puhaskahjum oli 0,8 mln krooni/53 tuhat eurot võrrelduna 2008 aasta III kvartali puhaskasumiga 3,5 mln krooni/223 tuhat eurot ja puhasrentaablus oli -3,2% (võrrelduna 2008 aasta III kvartali 3,5%-ga). 2009 aasta III kvartalis oli kontserni omakapitali puhasrentaablus -2,2% (võrrelduna 2008 aasta III kvartali 3,2%-ga) ja varade puhasrentaablus -1,1% (võrrelduna 2008 aasta III kvartali 1,3%-ga). Enim mõjutasid III kvartali tulemusi Skano Läti kaupluse väiksemale pinnale kolimise tõttu ehituskulude mahakandmisest tekkinud kahjum summas 904 tuh krooni/58 tuhat eurot ja Ukraina grivna kahjum 746 tuhat krooni/48 tuhat eurot. Finantsseisundi aruanne Kontserni koguvarade maht oli 30.9.2009 seisuga 142,7 mln krooni/9,1 mln eurot (31.12.2008: 163,8 mln krooni/10,5 mln eurot), millest ettevõtte kohustused moodustasid 30.9.2009 seisuga 73,1 mln krooni/4,7 mln eurot (31.12.2008: 92,6 mln krooni/5,9 mln eurot) ehk 51% (31.12.2008: 57%). Nõuded ja ettemaksud on suurenenud 6,8 mln krooni/0,4 mln eurot, kasvades 9 kuuga 35%. Nõuete suurenemise peamiseks põhjuseks on väga nõrk müük 2008 aasta detsembris, mis vähendas detsembri lõpuks nõuete saldot oluliselt. Varud vähenesid 19,5 mln krooni/1,2 mln eurot, moodustades 30.9.2009 seisuga 48,6 mln krooni/3,1 mln eurot (31.12.2008: 68,1 mln krooni/4,4 mln eurot). Varude vähendamine oli üks peamisi vahendeid kriisi ületamiseks ja likviidsuse tagamiseks. Materiaalne ja immateriaalne põhivara vähenes 4,9 mln krooni/0,3 mln eurot peamiselt kulumi tõttu. Lühiajalised laenukohustused olid seisuga 30.9.2009 11,1 mln krooni/0,7 mln eurot (31.12.2008: 17,7 mln krooni/1,1 mln eurot) ja vähenesid 9 kuuga kokku 6,6 mln krooni/0,4 mln eurot. Võlad hankijatele, maksukohustused, muud võlad, sh võlad töötajatele ja eraldised moodustasid 30,9 mln kooni/2,0 mln eurot (seisuga 31.12.2008 43,8 mln krooni/2,8 mln eurot). Lühi- ja pikaajalised kohustused kokku vähenesid 19,5 mln krooni/1,2 mln eurot 73,1 mln kroonini/4,7 mln euroni (31.12.2008: 92,6 mln krooni/5,9 mln eurot). Ärivaldkondade ülevaade Käive segmentide lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | % käibest | -------------------------------------------------------------------------------- | | III kv. | III kv. | III kv. | III kv. | III kv. | III kv. | | | 2009 | 2008 | 2009 | 2008 | 2009 | 2008 | -------------------------------------------------------------------------------- | Mööblivabrik | 22 232 | 32 321 | 1 422 | 2 066 | 46,9% | 49,0% | -------------------------------------------------------------------------------- | Skano | 5 898 | 9 655 | 376 | 618 | 12,4% | 14,6% | -------------------------------------------------------------------------------- | Ehitusmaterjali | 22 218 | 28 701 | 1 420 | 1 834 | 46,8% | 43,5% | | de divisjon | | | | | | | -------------------------------------------------------------------------------- | Elimineerimine | (2 901) | (4 685) | (186) | (300) | (6,1%) | (7,1%) | -------------------------------------------------------------------------------- | KOKKU | 47 447 | 65 992 | 3 032 | 4 218 | 100,0% | 100,0% | -------------------------------------------------------------------------------- Käive turgude lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | % käibest | -------------------------------------------------------------------------------- | | III kv. | III kv. | III kv. | III kv. | III kv. | III kv. | | | 2009 | 2008 | 2009 | 2008 | 2009 | 2008 | -------------------------------------------------------------------------------- | Soome | 21 661 | 26 388 | 1 385 | 1 686 | 45,7% | 40,0% | -------------------------------------------------------------------------------- | Eesti | 10 379 | 14 287 | 663 | 913 | 21,9% | 21,6% | -------------------------------------------------------------------------------- | Venemaa | 7 417 | 13 564 | 474 | 866 | 15,6% | 20,6% | -------------------------------------------------------------------------------- | Ukraina | 1 801 | 3 397 | 115 | 218 | 3,8% | 5,1% | -------------------------------------------------------------------------------- | Leedu | 1 610 | 1 977 | 103 | 126 | 3,4% | 3,0% | -------------------------------------------------------------------------------- | Läti | 1 382 | 3 077 | 89 | 197 | 2,9% | 4,7% | -------------------------------------------------------------------------------- | Rootsi | 1 184 | 1 148 | 75 | 74 | 2,5% | 1,7% | -------------------------------------------------------------------------------- | Kasahstan | 1 115 | 1 106 | 71 | 70 | 2,3% | 1,7% | -------------------------------------------------------------------------------- | Saksamaa | 308 | 544 | 20 | 35 | 0,6% | 0,8% | -------------------------------------------------------------------------------- | Valgevene | 89 | 0 | 5 | 0 | 0,2% | 0,0% | -------------------------------------------------------------------------------- | Portugal | 0 | 320 | 0 | 20 | 0,0% | 0,5% | -------------------------------------------------------------------------------- | Teised riigid | 501 | 186 | 32 | 13 | 1,1% | 0,3% | -------------------------------------------------------------------------------- | KOKKU | 47 447 | 65 994 | 3 032 | 4 218 | 100,00% | 100,00% | -------------------------------------------------------------------------------- Turgude lõikes on käive vähenenud kõigil suurematel turgudel. Osatähtsuse poolest on enim kasvanud Soome ja vähenenud Venemaa. Brutokasum segmentide lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | -------------------------------------------------------------------------------- | | III kv. | III kv. | III kv. | III kv. | | | 2009 | 2008 | 2009 | 2008 | -------------------------------------------------------------------------------- | Mööblivabrik | 1 668 | 3 926 | 107 | 251 | -------------------------------------------------------------------------------- | Skano | 2 725 | 5 271 | 174 | 337 | -------------------------------------------------------------------------------- | Ehitusmaterjalide | 5 022 | 4 968 | 321 | 318 | | divisjon | | | | | -------------------------------------------------------------------------------- | Elimineerimine | 40 | (37) | 3 | (2) | -------------------------------------------------------------------------------- | KOKKU | 9 455 | 14 128 | 605 | 904 | -------------------------------------------------------------------------------- Ehitusmaterjalide divisjonis on brutorentaablus kasvanud peamiselt muutuste tõttu tooteportfelis. Kasum segmentide lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | -------------------------------------------------------------------------------- | | III kv. | III kv. | III kv. | III kv. | | | 2009 | 2008 | 2009 | 2008 | -------------------------------------------------------------------------------- | Mööblivabrik | 370 | 1 915 | 24 | 123 | -------------------------------------------------------------------------------- | Skano | (3 044) | (76) | (194) | (5) | -------------------------------------------------------------------------------- | Ehitusmaterjalide | 1 507 | 1 691 | 96 | 108 | | divisjon | | | | | -------------------------------------------------------------------------------- | Elimineerimine | 341 | (36) | 21 | (2) | -------------------------------------------------------------------------------- | KOKKU | (826) | 3 494 | (53) | 224 | -------------------------------------------------------------------------------- | Neto finantskulud | (682) | (1 195) | (43) | (77) | -------------------------------------------------------------------------------- | KASUM ENNE TULUMAKSU | (1 508) | 2 299 | (96) | 147 | -------------------------------------------------------------------------------- | Tulumaks | 0 | 0 | 0 | 0 | -------------------------------------------------------------------------------- | PUHASKASUM | (1 508) | 2 299 | (96) | 147 | -------------------------------------------------------------------------------- Mööblidivisjon Viisnurga mööblidivisjoni 2009 aasta III kvartali müügitulu oli 25,2 mln krooni/1,6 mln eurot (2008: 37,3 mln krooni/2,4 mln eurot) ning majandustulemus 2,3 mln krooni/149 tuhat eurot kahjumit (2008: 1,8 mln krooni/116 tuhat eurot kasumit). Võrreldes eelmise aasta sama perioodiga on divisjoni käive vähenenud 12,1 mln krooni/772 tuhat eurot ehk 32,3%. Mööbli jaemüük - Skano AS Viisnurga jaeäri opereerivad OÜ Skano ja selle tütarfirmad Lätis, Leedus ja Ukrainas. Seisuga 30.9.2009 on Skano mööblikaupluste ketis kokku 10 kauplust - Tallinnas, Pärnus, Riias, Vilniuses kaks, Kaunases, Kiievis, Donetskis, Harkovis ja Odessas. Seoses kestva majanduskriisiga on esialgne uute kaupluste avamisplaan külmutatud. Jaemüük riikide lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | % käibest | Kaupluste arv | -------------------------------------------------------------------------------- | | III | III | III | III | III | III | 30.9.09| 30.9.08| | | kv. | kv. | kv. | kv. | kv. | kv. | | | | | 2009 | 2008 | 2009 | 2008 | 2009 | 2008 | | | -------------------------------------------------------------------------------- | Eesti | 1 883 | 2 814 | 120 | 180 | 31,9% | 29,1% | 2 | 2 | -------------------------------------------------------------------------------- | Läti | 831 | 2 257 | 53 | 144 | 14,1% | 23,4% | 1 | 1 | -------------------------------------------------------------------------------- | Leedu | 1 508 | 1 848 | 96 | 118 | 25,6% | 19,1% | 3 | 3 | -------------------------------------------------------------------------------- | Ukraina| 1 675 | 2735 | 107 | 175 | 28,4% | 28,3% | 4 | 5 | | | | | | | | | | | -------------------------------------------------------------------------------- | KOKKU | 5 897 | 9 654 | 376 | 617 | 100,0% | 100,0% | 10 | 11 | -------------------------------------------------------------------------------- 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 III 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 | -------------------------------------------------------------------------------- | | III | III kv. | III kv. | III kv. | III kv. | III kv. | | | kv. | 2008 | 2009 | 2008 | 2009 | 2008 | | | 2009 | | | | | | -------------------------------------------------------------------------------- | Soome | 11 257 | 13 415 | 720 | 857 | 50,6% | 41,5% | -------------------------------------------------------------------------------- | Venemaa | 6 336 | 12 374 | 406 | 792 | 28,5% | 38,3% | -------------------------------------------------------------------------------- | Kasahstan | 1 115 | 1 106 | 71 | 70 | 5,0% | 3,4% | -------------------------------------------------------------------------------- | Saksamaa | 197 | 315 | 13 | 20 | 0,9% | 1,0% | -------------------------------------------------------------------------------- | Muud | 426 | 426 | 24 | 27 | 1,9% | 1,3% | -------------------------------------------------------------------------------- | Tütarettevõtt | 2 901 | 4 685 | 188 | 300 | 13,0% | 14,5% | | ed | | | | | | | -------------------------------------------------------------------------------- | KOKKU | 22 232 | 32 321 | 1 422 | 2 066 | 100,0% | 100,0% | -------------------------------------------------------------------------------- Ehitusmaterjalide divisjon Ehitusmaterjalide divisjonis saavutati 2009 aasta III kvartali müügituluks 22,2 mln krooni/1,4 mln eurot ja kasumiks 1,5 mln krooni/96 tuhat eurot. Eelmise aasta samal perioodil oli divisjoni käive 28,7 mln krooni/1,8 mln eurot ja kasum 1,7 mln krooni/108 tuhat eurot. Võrreldes eelmise aasta sama perioodiga on divisjoni käive vähenenud 6,5 mln krooni/414 tuhat eurot ja kasum vähenenud 0,2 mln krooni/12 tuhat eurot. Käive piirkondade lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | % käibest | -------------------------------------------------------------------------------- | | III kv. | III kv. | III kv. | III kv. | III kv. | III kv. | | | 2009 | 2008 | 2009 | 2008 | 2009 | 2008 | -------------------------------------------------------------------------------- | Soome | 10 404 | 12 973 | 665 | 829 | 46,8% | 45,2% | -------------------------------------------------------------------------------- | Eesti | 8 280 | 11 083 | 529 | 708 | 37,3% | 38,6% | -------------------------------------------------------------------------------- | Portugal | 0 | 320 | 0 | 20 | 0,0% | 1,1% | -------------------------------------------------------------------------------- | Venemaa | 1 081 | 1 190 | 68 | 75 | 4,9% | 4,1% | -------------------------------------------------------------------------------- | Läti | 551 | 816 | 35 | 51 | 2,5% | 2,8% | -------------------------------------------------------------------------------- | Rootsi | 1 184 | 1 148 | 75 | 74 | 5,3% | 4,0% | -------------------------------------------------------------------------------- | Saksamaa | 111 | 229 | 7 | 15 | 0,5% | 0,8% | -------------------------------------------------------------------------------- | Leedu | 101 | 129 | 7 | 8 | 0,5% | 0,4% | -------------------------------------------------------------------------------- | Ukraina | 126 | 662 | 8 | 43 | 0,6% | 2,3% | -------------------------------------------------------------------------------- | Teised riigid | 380 | 151 | 24 | 10 | 1,7% | 0,5% | -------------------------------------------------------------------------------- | KOKKU | 22 218 | 28 701 | 1 418 | 1 833 | 100,0% | 100,0% | -------------------------------------------------------------------------------- Konsolideeritud finantsseisundi aruanne -------------------------------------------------------------------------------- | | tuh EEK | tuh EEK | tuh EUR | tuh EUR | -------------------------------------------------------------------------------- | | 30.9.2009 | 31.12.2008 | 30.9.2009 | 31.12.2008 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Raha | 3 439 | 6 913 | 220 | 442 | -------------------------------------------------------------------------------- | Nõuded ja ettemaksud | 26 325 | 19 568 | 1 682 | 1 250 | -------------------------------------------------------------------------------- | Varud | 48 637 | 68 096 | 3 109 | 4 351 | -------------------------------------------------------------------------------- | Käibevara kokku | 78 401 | 94 577 | 5 011 | 6 043 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kinnisvarainvesteeringud | 2 893 | 2 893 | 185 | 185 | -------------------------------------------------------------------------------- | Materiaalne põhivara | 61 415 | 66 333 | 3 925 | 4 239 | -------------------------------------------------------------------------------- | Immateriaalne põhivara | 16 | 21 | 1 | 1 | -------------------------------------------------------------------------------- | Põhivara kokku | 64 324 | 69 247 | 4 111 | 4 425 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | AKTIVA KOKKU | 142 725 | 163 824 | 9 122 | 10 468 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Laenukohustused | 11 113 | 17 722 | 711 | 1 132 | -------------------------------------------------------------------------------- | Võlad ja ettemaksed | 30 863 | 43 646 | 1 972 | 2 790 | -------------------------------------------------------------------------------- | Lühiajalised eraldised | 25 | 115 | 1 | 7 | -------------------------------------------------------------------------------- | Lühiajalised kohustused | 42 001 | 61 483 | 2 684 | 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 | 73 142 | 92 624 | 4 675 | 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 | 735 | 253 | 47 | 14 | -------------------------------------------------------------------------------- | Eelmiste perioodide | 15 759 | 9 717 | 1 007 | 621 | | jaotamata kasum | | | | | -------------------------------------------------------------------------------- | Aruandeaasta kasum | (2 099) | 6 042 | (134) | 386 | -------------------------------------------------------------------------------- | Omakapital kokku | 69 583 | 71 200 | 4 447 | 4 548 | | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | PASSIVA KOKKU | 142 725 | 163 824 | 9 122 | 10 468 | -------------------------------------------------------------------------------- Konsolideeritud koondkasumiaruanne -------------------------------------------------------------------------------- | tuh EEK | III kv | III kv | 9 k 2009 | 9 k 2008 | | | 2009 | 2008 | | korri-geer | | | | kor-rigeer | | itud | | | | itud | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müügitulu | 47 447 | 65 994 | 151 670 | 218 022 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müüdud toodangu kulu | (37 992) | (51 649) | (120 044) | (168 269) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Brutokasum | 9 455 | 14 345 | 31 626 | 49 753 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Turustuskulud | (8 559) | (10 097) | (26 374) | (31 044) | -------------------------------------------------------------------------------- | Üldhalduskulud | (1 021) | (1 526) | (4 054) | (4 785) | -------------------------------------------------------------------------------- | Muud äritulud | 390 | 1 260 | 1 722 | 2 518 | | | | | | | -------------------------------------------------------------------------------- | Muud ärikulud | (1 090) | (491) | (2 666) | (1 427) | | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Ärikasum | (825) | 3 491 | 254 | 15 015 | -------------------------------------------------------------------------------- | Neto finantskulu | (683) | (1 192) | (2 353) | (2 910) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum/kahjum enne | (1 508) | 2 299 | (2 099) | 12 105 | | tulumaksu | | | | | -------------------------------------------------------------------------------- | Dividendide tulumaks | 0 | 0 | 0 | (1 674) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Perioodi kasum/kahjum | (1 508) | 2 299 | (2 099) | 10 431 | -------------------------------------------------------------------------------- | Tava puhaskasum aktsia | (0,34) | 0,51 | (0,47) | 2,32 | | kohta | | | | | -------------------------------------------------------------------------------- | Lahustatud puhaskasum | (0,34) | 0,51 | (0,47) | 2,32 | | aktsia kohta | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Valuutakursside muutuste | 259 | (1 377) | 482 | (301) | | mõju konsolideerimisel | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Perioodi | ( 1 249) | 922 | (1 617) | 10 130 | | koondkasum/-kahjum | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | tuh EUR | III kv | III kv | 9 k 2009 | 9 k 2008 | | | 2009 | 2008 | | korri-geer | | | | kor-rigeer | | itud | | | | itud | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müügitulu | 3 032 | 4 218 | 9 693 | 13 934 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müüdud toodangu kulu | (2 428) | (3 301) | (7 672) | (10 755) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Brutokasum | 604 | 917 | 2 021 | 3 179 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Turustuskulud | (547) | (645) | (1 686) | (1 983) | -------------------------------------------------------------------------------- | Üldhalduskulud | (65) | (98) | (259) | (306) | -------------------------------------------------------------------------------- | Muud äritulud | 25 | 80 | 110 | 160 | | | | | | | -------------------------------------------------------------------------------- | Muud ärikulud | (70) | (31) | (170) | (91) | | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Ärikasum | (53) | 223 | 16 | 959 | -------------------------------------------------------------------------------- | Neto finantskulu | (43) | (76) | (150) | (185) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum/kahjum enne | (96) | 147 | (134) | 774 | | tulumaksu | | | | | -------------------------------------------------------------------------------- | Dividendide tulumaks | 0 | 0 | 0 | (107) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Perioodi kasum/kahjum | (96) | 147 | (134) | 667 | -------------------------------------------------------------------------------- | Tava puhaskasum aktsia | (0,02) | 0,03 | (0,03) | 0,15 | | kohta | | | | | -------------------------------------------------------------------------------- | Lahustatud puhaskasum | (0,02) | 0,03 | (0,03) | 0,15 | | aktsia kohta | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Valuutakursside muutuste | 17 | (88) | 33 | (20) | | mõju konsolideerimisel | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Perioodi | (79) | 59 | (101) | 647 | | koondkasum/kahjum | | | | | -------------------------------------------------------------------------------- Einar Pähkel Finantsdirektor 447 8331 [email protected]
Content of announcement in English
Title
Viisnurk financial result, 9 months of 2009
Message
Profits Consolidated net sales of third quarter 2009 was 47.4 mil. kroons/3.0 mil. euros (66.0 mil. kroons/4.2 mil. euros in same period of 2008) representing a 28.1% decrease on the third quarter compared to Q3 2008. The Group's gross margin in the third quarter of 2009 was 19.9% compared to 21.7% in the third quarter of 2008. Consolidated operating loss amounted to 0.8 mil. kroons/53 thousand euros (operating profit 3.5 mil. kroons/223 thousand euros in 2008). The consolidated operating margin of net sales was -1.7% (5.3% in Q3 2008). Consolidated net loss amounted to 0.8 mil. kroons/53 thousand euros, compared to net profit 3.5 mil. kroons/223 thousand euros in Q3 2008), and the net margin was -3.2% (3.5% in Q3 2008). In Q3 2009, the Group's return on equity was -2.2% (3.2% in Q3 2008) and return on assets was -1.1% (1.3% in Q3 2008). The relocation of furniture store in Latvia had the biggest impact for the result of Q3 . The sum of write off of building costs of the store was 904 thousand kroons/58 thousand euros. Depreciation of the Ukrainian hryvnia against euro resulted in a foreign exchange loss in the amount of 746 thousand kroons/48 thousand euros. Position of financial statement As of the end of September 2008 the total assets of Viisnurk amounted to 142.7 mil. kroons/9.1 mil. euros (31.12.2008: 163.8 mil. kroons/10.5 mil. euros). The liabilities of the company accounted for 51% (31.12.2008: 57%) thereof, i.e. 73.1 mil. kroons/4.7 mil. euros (31.12.2008: 92.6 mil. kroons/5.9 mil. euros). Receivables and prepayments have increased by 6.8 mil. kroons/0.4 mil. euros i.e. 35% increase with 9 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 19.5 mil. kroons/1.2 mil. euros to reach 48.6 mil. kroons/3.1 mil euros at 30 September 2009 (31.12.2008: 68,1 mil. kroons/4,4 mil. euros). The decrease of amount of inventory wass one of the main targets to pass crisis and assure liquidity. Property, plant and intangibles decreased by 4.9 mil. kroons/0.3 mil. euros mainly caused by depreciation. Current liabilities decreased by 6.6 mil. kroons/0.4 mil euros and amounted in 30 September 2009 11.1 mil. kroons/0.7 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 30.9 mil. kroons/2.0 mil. euros (31.12.2008: 43.8 mil. kroons/2.8 mil. euros). Current and non-current liabilities decreased by 19.5 mil. kroons/1.2 mil. euros to 73.1 mil. kroons/4.7 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 | -------------------------------------------------------------------------------- | | Q3 2009 | Q3 2008 | Q3 2009 | Q3 2008 | Q3 2009 | Q3 2008 | -------------------------------------------------------------------------------- | Furniture | 22,232 | 32,321 | 1,422 | 2,066 | 46.9% | 49.0% | | Factory | | | | | | | -------------------------------------------------------------------------------- | Skano | 5,898 | 9,655 | 376 | 618 | 12.4% | 14.6% | -------------------------------------------------------------------------------- | Building | 22,218 | 28,701 | 1,420 | 1,834 | 46.8% | 43.5% | | Materials | | | | | | | | Division | | | | | | | -------------------------------------------------------------------------------- | Elimination | (2,901) | (4,685) | (186) | (300) | (6.1%) | (7.1%) | -------------------------------------------------------------------------------- | TOTAL | 47,447 | 65,992 | 3,032 | 4,218 | 100.0% | 100.0% | -------------------------------------------------------------------------------- Net sales by geographical segments -------------------------------------------------------------------------------- | | th. EEK | th. EUR | % of net sales | -------------------------------------------------------------------------------- | | Q3 2009 | Q3 2008 | Q3 2009 | Q3 2008 | Q3 2009 | Q3 2008 | -------------------------------------------------------------------------------- | Finland | 21,661 | 26,388 | 1,385 | 1,686 | 45.7% | 40.0% | -------------------------------------------------------------------------------- | Estonia | 10,379 | 14,287 | 663 | 913 | 21.9% | 21.6% | -------------------------------------------------------------------------------- | Russia | 7,417 | 13,564 | 474 | 866 | 15.6% | 20.6% | -------------------------------------------------------------------------------- | Ukraine | 1,801 | 3,397 | 115 | 218 | 3.8% | 5.1% | -------------------------------------------------------------------------------- | Lithuania | 1,610 | 1,977 | 103 | 126 | 3.4% | 3.0% | -------------------------------------------------------------------------------- | Latvia | 1,382 | 3,077 | 89 | 197 | 2.9% | 4.7% | -------------------------------------------------------------------------------- | Sweden | 1,184 | 1,148 | 75 | 74 | 2.5% | 1.7% | -------------------------------------------------------------------------------- | Kazakhstan | 1,115 | 1,106 | 71 | 70 | 2.3% | 1.7% | -------------------------------------------------------------------------------- | Germany | 308 | 544 | 20 | 35 | 0.6% | 0.8% | -------------------------------------------------------------------------------- | Byelorussia | 89 | 0 | 5 | 0 | 0.2% | 0.0% | -------------------------------------------------------------------------------- | Portugal | 0 | 320 | 0 | 20 | 0.0% | 0.5% | -------------------------------------------------------------------------------- | Other countries | 501 | 186 | 32 | 13 | 1.1% | 0.3% | -------------------------------------------------------------------------------- | Total | 47,447 | 65,994 | 3,032 | 4,218 | 100.00% | 100.00% | -------------------------------------------------------------------------------- Concerning the markets, turnover has been decreased in all bigger markets. Relatively is the biggest increase into Finland and decrease into Russia. Gross profit by business segments -------------------------------------------------------------------------------- | | th. EEK | th. EUR | -------------------------------------------------------------------------------- | | Q3 2009 | Q3 2008 | Q3 2009 | Q3 2008 | -------------------------------------------------------------------------------- | Furniture Factory | 1,668 | 3,926 | 107 | 251 | -------------------------------------------------------------------------------- | Skano | 2,725 | 5,271 | 174 | 337 | -------------------------------------------------------------------------------- | Building Materials | 5,022 | 4,968 | 321 | 318 | | Division | | | | | -------------------------------------------------------------------------------- | Elimination | 40 | (37) | 3 | (2) | -------------------------------------------------------------------------------- | TOTAL | 9,455 | 14,128 | 605 | 904 | -------------------------------------------------------------------------------- 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 | -------------------------------------------------------------------------------- | | Q3 2009 | Q3 2008 | Q3 2009 | Q3 2008 | -------------------------------------------------------------------------------- | Furniture Factory | 370 | 1,915 | 24 | 123 | -------------------------------------------------------------------------------- | Skano | (3,044) | (76) | (194) | (5) | -------------------------------------------------------------------------------- | Building Materials | 1,507 | 1,691 | 96 | 108 | | Division | | | | | -------------------------------------------------------------------------------- | Elimination | 341 | (36) | 21 | (2) | -------------------------------------------------------------------------------- | TOTAL | (826) | 3,494 | (53) | 224 | -------------------------------------------------------------------------------- | Net financial costs | (682) | (1,195) | (43) | (77) | -------------------------------------------------------------------------------- | PROFIT BEFORE TAXES | (1,508) | 2,299 | (96) | 147 | -------------------------------------------------------------------------------- | Income tax | 0 | 0 | 0 | 0 | -------------------------------------------------------------------------------- | NET PROFIT | (1,508) | 2,299 | (96) | 147 | -------------------------------------------------------------------------------- Furniture Division The net sales of AS Viisnurk Furniture Division in third quarter amounted to 25.2 mil. kroons/1.6 mil. euros (2008: 37.3 mil. kroons/2.4 mil. euros) and the economical result 2.3 mil. kroons/149 thousand euros as a loss (2008 profit 1.8 mil. kroons/116 thousand euros). As compared to the Q3 of previous year the turnover of the division has decreased by 12.1 mil. kroons/772 thousand euros (32.3%). 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, two inVilnius, Kaunas, Kiev, Donetsk, Kharkiv and Odessa at the end of the third 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 | -------------------------------------------------------------------------------- | | Q3 | Q3 | Q3 | Q3 | Q3 | Q3 | 30.9.09| 30.9.08| | | 2009 | 2008 | 2009 | 2008 | 2009 | 2008 | | | -------------------------------------------------------------------------------- | Estonia | 1,883 | 2,814 | 120 | 180 | 31.9% | 29.1% | 2 | 2 | -------------------------------------------------------------------------------- | Latvia | 831 | 2,257 | 53 | 144 | 14.1% | 23.4% | 1 | 1 | -------------------------------------------------------------------------------- | Lithuan | 1,508 | 1,848 | 96 | 118 | 25.6% | 19.1% | 3 | 3 | | ia | | | | | | | | | -------------------------------------------------------------------------------- | Ukraine | 1,675 | 2735 | 107 | 175 | 28.4% | 28.3% | 4 | 5 | -------------------------------------------------------------------------------- | TOTAL | 5,897 | 9,654 | 376 | 617 | 100.0% | 100.0% | 10 | 11 | -------------------------------------------------------------------------------- The retail sale of the Furniture Division decreased most in Latvia. The furniture store in Kaunas has removed into Vilnius. Within the third quarter this year the retail sale has decreased by 38.9% as compared to the same period last year. Furniture Production The Furniture factory's sales in the third quarter in the company's basic target market in Russia and Finland have decreased and clients do not estimate sales recovering in near future. Furniture factory sales by countries -------------------------------------------------------------------------------- | | th EEK | th EUR | % of net sales | -------------------------------------------------------------------------------- | | Q3 2009 | Q3 2008 | Q3 2009 | Q3 2008 | Q3 2009 | Q3 2008 | -------------------------------------------------------------------------------- | Finland | 11,257 | 13,415 | 720 | 857 | 50.6% | 41.5% | -------------------------------------------------------------------------------- | Russia | 6,336 | 12,374 | 406 | 792 | 28.5% | 38.3% | -------------------------------------------------------------------------------- | Kazakhstan | 1,115 | 1,106 | 71 | 70 | 5.0% | 3.4% | -------------------------------------------------------------------------------- | Germany | 197 | 315 | 13 | 20 | 0.9% | 1.0% | -------------------------------------------------------------------------------- | Others | 426 | 426 | 24 | 27 | 1.9% | 1.3% | -------------------------------------------------------------------------------- | Subsidiaries| 2,901 | 4,685 | 188 | 300 | 13.0% | 14.5% | | | | | | | | | -------------------------------------------------------------------------------- | TOTAL | 22,232 | 32,321 | 1,422 | 2,066 | 100.0% | 100.0% | -------------------------------------------------------------------------------- Building Materials Division The net sales of the Building Materials Division in third quarter amounted to 22.2 mil. kroons/1.4 mil. euros and profit to 1.5 mil. kroons/96 thousand euros. In the same period of the last year, the turnover of the division totalled 28.7 mil. kroons/1.8 mil. euros and the net profit 1.7 mil. kroons/108 thousand euros. As compared to the previous year the turnover of the division has decreased by 6.5 mil. kroons/414 thousand euros and the profit has decreased by 0.2 mil. kroons/12 thousand euros. Net sales by geographical segments -------------------------------------------------------------------------------- | | th. EEK | th. EUR | % of net sales | -------------------------------------------------------------------------------- | | Q3 2009 | Q3 2008 | Q3 2009 | Q3 2008 | Q3 2009 | Q3 2008 | -------------------------------------------------------------------------------- | Finland | 10,404 | 12,973 | 665 | 829 | 46.8% | 45.2% | -------------------------------------------------------------------------------- | Estonia | 8,280 | 11,083 | 529 | 708 | 37.3% | 38.6% | -------------------------------------------------------------------------------- | Portugal | 0 | 320 | 0 | 20 | 0.0% | 1.1% | -------------------------------------------------------------------------------- | Russia | 1,081 | 1,190 | 68 | 75 | 4.9% | 4.1% | -------------------------------------------------------------------------------- | Latvia | 551 | 816 | 35 | 51 | 2.5% | 2.8% | -------------------------------------------------------------------------------- | Sweden | 1,184 | 1,148 | 75 | 74 | 5.3% | 4.0% | -------------------------------------------------------------------------------- | Germany | 111 | 229 | 7 | 15 | 0.5% | 0.8% | -------------------------------------------------------------------------------- | Lithuania | 101 | 129 | 7 | 8 | 0.5% | 0.4% | -------------------------------------------------------------------------------- | Ukraine | 126 | 662 | 8 | 43 | 0.6% | 2.3% | -------------------------------------------------------------------------------- | Other countries | 380 | 151 | 24 | 10 | 1.7% | 0.5% | -------------------------------------------------------------------------------- | TOTAL | 22,218 | 28,701 | 1,418 | 1,833 | 100.0% | 100.0% | -------------------------------------------------------------------------------- Consolidated statement of financial position -------------------------------------------------------------------------------- | | Th EEK | Th EEK | Th EUR | Th EUR | -------------------------------------------------------------------------------- | | 30.9.2009 | 31.12.200 | 30.9.2009 | 31.12.2008 | | | | 8 | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Cash and bank | 3,439 | 6,913 | 220 | 442 | -------------------------------------------------------------------------------- | Receivables and | 26,325 | 19,568 | 1,682 | 1,250 | | prepayments | | | | | -------------------------------------------------------------------------------- | Inventories | 48,637 | 68,096 | 3,109 | 4,351 | -------------------------------------------------------------------------------- | Total current assets | 78,401 | 94,577 | 5,011 | 6,043 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Investment property | 2,893 | 2,893 | 185 | 185 | -------------------------------------------------------------------------------- | Tangible fixed assets | 61,415 | 66,333 | 3,925 | 4,239 | -------------------------------------------------------------------------------- | Intangible fixed assets | 16 | 21 | 1 | 1 | -------------------------------------------------------------------------------- | Total fixed assets | 64,324 | 69,247 | 4,111 | 4,425 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL ASSETS | 142,725 | 163,824 | 9,122 | 10,468 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Debt obligations | 11,113 | 17,722 | 711 | 1,132 | -------------------------------------------------------------------------------- | Payables and prepayments | 30,863 | 43,646 | 1,972 | 2,790 | -------------------------------------------------------------------------------- | Short-term provisions | 25 | 115 | 1 | 7 | -------------------------------------------------------------------------------- | Total current liabilities | 42,001 | 61,483 | 2,684 | 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 | 73,142 | 92,624 | 4,675 | 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 | 735 | 253 | 47 | 14 | | reserve | | | | | -------------------------------------------------------------------------------- | Retained profits | 15,759 | 9,717 | 1,007 | 621 | -------------------------------------------------------------------------------- | Net profit for the year | (2,099) | 6,042 | (134) | 386 | -------------------------------------------------------------------------------- | Total equity | 69,583 | 71,200 | 4,447 | 4,548 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL LIABILITIES AND | 142,725 | 163,824 | 9,122 | 10,468 | | EQUITY | | | | | -------------------------------------------------------------------------------- Consolidated statement of comprehensive income -------------------------------------------------------------------------------- | Th EEK | Q3 2009 | Q3 2008 | 9 m 2009 | 9 m 2008 | | | | (adjusted) | | (adjusted) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | RETURN ON SALES | 47,447 | 65,994 | 151,670 | 218,022 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Cost of production sold | (37,992) | (51,649) | (120,044) | (168,269) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Gross profit | 9,455 | 14,345 | 31,626 | 49,753 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Marketing expenses | (8,559) | (10,097) | (26,374) | (31,044) | -------------------------------------------------------------------------------- | General administrative | (1,021) | (1,526) | (4,054) | (4,785) | | expenses | | | | | -------------------------------------------------------------------------------- | Other income | 390 | 1,260 | 1,722 | 2,518 | -------------------------------------------------------------------------------- | Other expenses | (1,090) | (491) | (2,666) | (1,427) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Operating profit | (825) | 3,491 | 254 | 15,015 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Financial income and | (683) | (1,192) | (2,353) | (2,910) | | financial expenses | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Profit/loss before taxes | (1,508) | 2,299 | (2,099) | 12,105 | -------------------------------------------------------------------------------- | Prepaid income tax | 0 | 0 | 0 | (1,674) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | PROFIT/LOSS FOR THE | (1,508) | 2,299 | (2,099) | 10,431 | | PERIOD | | | | | -------------------------------------------------------------------------------- | Basic earnings per share | (0.34) | 0.51 | (0.47) | 2.32 | -------------------------------------------------------------------------------- | Diluted earnings per | (0.34) | 0.51 | (0.47) | 2.32 | | share | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Currency translation | 259 | (1,377) | 482 | (301) | | differences | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL COMPREHENSIVE | (1,249) | 922 | (1,617) | 10,130 | | INCOME | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Th EUR | Q3 2009 | Q3 2008 | 9 m 2009 | 9 m 2008 | | | | (adjusted) | | (adjusted) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | RETURN ON SALES | 3,032 | 4,218 | 9,693 | 13,934 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Cost of production sold | (2,428) | (3,301) | (7,672) | (10,755) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Gross profit | 604 | 917 | 2,021 | 3,179 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Marketing expenses | (547) | (645) | (1,686) | (1,983) | -------------------------------------------------------------------------------- | General administrative | (65) | (98) | (259) | (306) | | expenses | | | | | -------------------------------------------------------------------------------- | Other income | 25 | 80 | 110 | 160 | -------------------------------------------------------------------------------- | Other expenses | (70) | (31) | (170) | (91) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Operating profit | (53) | 223 | 16 | 959 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Financial income and | (43) | (76) | (150) | (185) | | financial expenses | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Profit/loss before taxes | (96) | 147 | (134) | 774 | -------------------------------------------------------------------------------- | Prepaid income tax | 0 | 0 | 0 | (107) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | PROFIT/LOSS FOR THE | (96) | 147 | (134) | 667 | | PERIOD | | | | | -------------------------------------------------------------------------------- | Basic earnings per share | (0.02) | 0.03 | (0.03) | 0.15 | -------------------------------------------------------------------------------- | Diluted earnings per | (0.02) | 0.03 | (0.03) | 0.15 | | share | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Currency translation | 17 | (88) | 33 | (20) | | differences | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL COMPREHENSIVE | (79) | 59 | (101) | 647 | | INCOME | | | | | -------------------------------------------------------------------------------- Einar Pähkel CFO +372 447 8331 [email protected]