Market announcement
AS Ekspress Grupp
LEI code
529900B52V1TUMW7FS54
Size of the entity
Large group
Economic activities
Professional, Scientific and Technical Activities
Country of registered office
Estonia
General information
Categories
Other price sensitive information
Unique data record identifier
2725
Attachments
Submission date and time
11.05.2010 10:22:25
Content of announcement in Estonian
Title
AS Ekspress Grupp 2010.a. I kvartali konsolideeritud vahearuanne
Message
Olulisemad finantsnäitajad EEK -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EEK | -------------------------------------------------------------------------------- | I kv 2010 | I kv 2009 | -------------------------------------------------------------------------------- | Finantsnäitajad (tuhandetes) | | Muutus % | -------------------------------------------------------------------------------- | Perioodi kohta | | | | -------------------------------------------------------------------------------- | Müügitulu | 183 069 | 207 130 | -11,6% | -------------------------------------------------------------------------------- | Brutokasum | 32 912 | 34 458 | -4,5% | -------------------------------------------------------------------------------- | EBITDA | 17 851 | 6 762 | 164,1% | -------------------------------------------------------------------------------- | Ärikasum/-kahjum | 4 820 | (6 780) | 171,2% | -------------------------------------------------------------------------------- | Perioodi puhaskasum/-kahjum | (11 847) | (17 593) | 32,9% | -------------------------------------------------------------------------------- | | 31.03.2010 | 31.03.2009 | | -------------------------------------------------------------------------------- | Käibevara | 217 932 | 248 608 | -12,3% | -------------------------------------------------------------------------------- | Põhivara | 1 141 255 | 1 409 777 | -19,1% | -------------------------------------------------------------------------------- | Varad kokku | 1 359 187 | 1 658 385 | -18,0% | -------------------------------------------------------------------------------- | Lühiajalised kohustused | 335 705 | 406 905 | -17,5% | -------------------------------------------------------------------------------- | Pikaajalised kohustused | 588 305 | 630 116 | -6,6% | -------------------------------------------------------------------------------- | Kohustused kokku | 924 010 | 1 037 021 | -10,9% | -------------------------------------------------------------------------------- | Omakapital | 435 177 | 621 364 | -30,0% | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Olulisemad finantsnäitajad EUR -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EUR | -------------------------------------------------------------------------------- | I kv 2010 | I kv 2009 | -------------------------------------------------------------------------------- | Finantsnäitajad (tuhandetes) | | Muutus % | -------------------------------------------------------------------------------- | Perioodi kohta | | | | -------------------------------------------------------------------------------- | Müügitulu | 11 700 | 13 238 | -11,6% | -------------------------------------------------------------------------------- | Brutokasum | 2 103 | 2 202 | -4,5% | -------------------------------------------------------------------------------- | EBITDA | 1 141 | 432 | 164,1% | -------------------------------------------------------------------------------- | Ärikasum/-kahjum | 308 | (433) | 171,2% | -------------------------------------------------------------------------------- | Perioodi puhaskasum/-kahjum | (757) | (1 124) | 32,9% | -------------------------------------------------------------------------------- | | 31.03.2010 | 31.03.2009 | | -------------------------------------------------------------------------------- | Käibevara | 13 928 | 15 889 | -12,3% | -------------------------------------------------------------------------------- | Põhivara | 72 939 | 90 101 | -19,1% | -------------------------------------------------------------------------------- | Varad kokku | 86 868 | 105 990 | -18,0% | -------------------------------------------------------------------------------- | Lühiajalised kohustused | 21 455 | 26 006 | -17,5% | -------------------------------------------------------------------------------- | Pikaajalised kohustused | 37 600 | 40 272 | -6,6% | -------------------------------------------------------------------------------- | Kohustused kokku | 59 055 | 66 278 | -10,9% | -------------------------------------------------------------------------------- | Omakapital | 27 813 | 39 712 | -30,0% | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Suhtarvud (%) | | I kv 2010 | I kv 2009 | -------------------------------------------------------------------------------- | Müügitulu kasv (%) | -12% | -20% | -------------------------------------------------------------------------------- | Brutorentaablus (%) | 18% | 17% | -------------------------------------------------------------------------------- | Puhasrentaablus (%) | -6% | -8% | -------------------------------------------------------------------------------- | Omakapitali osakaal (%) | 32% | 37% | -------------------------------------------------------------------------------- | Varade tootlus (%) | -1% | -1% | -------------------------------------------------------------------------------- | Omakapitali tootlus (%) | -3% | -3% | -------------------------------------------------------------------------------- | EBITDA marginaal (%) | 10% | 3% | -------------------------------------------------------------------------------- | Ärirentaablus (%) | 3% | -3% | -------------------------------------------------------------------------------- | Likviidsuskordaja | 65% | 61% | -------------------------------------------------------------------------------- | Võla ja omakapitali suhe (%) | 166% | 133% | -------------------------------------------------------------------------------- | Finantsvõimendus (%) | 58% | 54% | -------------------------------------------------------------------------------- | Puhaskasum aktsia kohta | (0,57) | (0,85) | | EEK | | | -------------------------------------------------------------------------------- | Puhaskasum aktsia kohta | (0,04) | (0,05) | | EUR | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müügitulu kasv (%) | (müügitulu 3 kuud 2009 - müügitulu 3 kuud 2008) | | | / müügitulu 3 kuud 2008*100 | -------------------------------------------------------------------------------- | Brutorentaablus (%) | brutokasum/müügitulu*100 | -------------------------------------------------------------------------------- | Puhasrentaablus (%) | puhaskasum/müügitulu*100 | -------------------------------------------------------------------------------- | Omakapitali osakaal (%) | omakapital / (kohustused+omakapital)* 100 | -------------------------------------------------------------------------------- | Varade tootlus (%) | puhaskasum/keskmised varad *100 | -------------------------------------------------------------------------------- | Omakapitali tootlus (%) | puhaskasum/keskmine omakapital *100 | -------------------------------------------------------------------------------- | EBITDA marginaal (%) | EBITDA/müügitulu*100 | -------------------------------------------------------------------------------- | Ärirentaablus (%) | ärikasum/müügitulu*100 | -------------------------------------------------------------------------------- | Likviidsuskordaja | käibevara/lühiajalised kohustused | -------------------------------------------------------------------------------- | Võla ja omakapitali suhe | intressi kandvad võlakohustused/omakapital*100 | | (%) | | -------------------------------------------------------------------------------- | Finantsvõimendus (%) | intressi kandvad võlakohustused-raha ja raha | | | ekvivalendid/ intressi kandvad | | | võlakohustused+omakapital*100 | -------------------------------------------------------------------------------- Olenemata käibelangusest võrreldes eelmise aasta sama perioodiga, teenis ettevõte 18 miljonit krooni (1,1 miljonit eurot) EBITDA-d mis on 164% enam kui aasta tagasi. Normaliseeritud EBITDA (ilma Rahva Raamatu erakorralise müügituluta) moodustas 11,5 miljonit krooni (0,7 miljonit eurot), mis on 76% enam kui aasta tagasi. Olulisim osa tulemuse loomisel on olnud kulude vähendamisel. Palgakulude tase võrreldes eelmise aasta sama perioodiga on langenud võrreldavates ettevõtetes 17%, samuti on vähenenud muud püsikulud. Käibe muutus võrreldes eelmise aastaga on olnud drastiline, kuid erinevus varasema perioodiga on vähenenud kuust kuusse. Konsolideeritud reklaamikäive tervikuna on I kvartalis vähenenud 12%, jaemüügi käive 28%, tellimuste käive 11%. Perioodiliste väljaannete segmendis on käive tervikuna langenud 22%, online-meedia segmendis on kukkumine olnud 6%. Konsolideeritud trükiteenuste käive on võrreldes eelmise aastaga mõõdukalt kasvanud. Ettevõtete tasemel on Delfi Grupp saavutanud eelmise aastaga võrreldava EBITDA, olles 7% parem. Suurima kasvu (187%) on saavutanud Delfi Eesti. Delfi Läti on jätkuvalt väljakutsuva majanduskeskkonna tõttu eelmise aasta tulemusest maas, Delfi Leedu tulemust mõjutavad osaliselt ühekordsed kulud seoses ettevõtte 10. aastapäeva tähistamisega. Ukraina Delfi kulud on kasvanud peamiselt tulenevalt sisemisest arvestusest, kus kogu grupi üldkulusid jagatakse käesolevast aastast ka Ukraina ettevõttega. Perioodilistest väljaannetest on Eesti Ekspressi ning Maalehe kirjastaja Eesti Ajalehed teinud eelmisest aastast parema tulemuse normaliseeritud EBITDA (ilma Rahva Raamatu müügikasumita) 126%. Õhtuleht on teeninud ettevõttena küll 1,5 miljonit krooni (0,1 miljonit eurot) EBITDA-d, kuid jäänud selle tulemusega 54% eelmisest aastast maha. Mahajäämuse peamiseks põhjuseks on reklaamituru nõrkus, kuid Õhtulehe näol on endiselt tegemist ühe Eesti kasumlikuma ajalehega. Ajakirjade Kirjastuse EBITDA on paranenud 111% võrreldes eelmise aasta sama perioodiga ja seda peamiselt vähendatud kulude ning kahjumlike ajakirjade sulgemise tõttu. Leedu ajakirjade kirjastus on teeninud esimeses kvartalis 1,2 miljonit krooni (0,1 miljonit eurot) kahjumit, mis on 16% kehvem tulemus kui eelmisel aastal. Suurima kahjumi perioodiliste väljaaannete hulgas on teeninud Eesti Päevaleht, olles I kvartali lõpuks miinuses 5,9 miljoni krooniga (0,4 miljonit eurot), kuid suur osa nimetatud kahjumist on tingitud uue raamatusarja käivituskuludega ning tulude nihkumisega järgmisesse kvartalisse. Grupi tulemust on olulisel määral toetanud trükiettevõte Printall, kelle tulemus on I kvartalis 19,0 miljonit krooni (1,2 miljonit eurot) EBITDAd. Nimetatud tulemus on Printalli ajaloo parim I kvartali tulemus, võrreldes eelmise aasta sama perioodiga on EBITDA kasvanud 35%. Tulemuse saavutamisel on olulisel määral aidanud kaasa eksporditulude kasvatamine, ettevõte on jõudsalt laiendanud oma kliendiportfelli Skandinaavias ja Lääne-Euroopas. Eksport Põhja- ja Lääne-Euroopa riikidesse kasvas 21% võrreldes 2009. aasta sama perioodiga ja 54% võrreldes 2008. aasta I kvartaliga, moodustades 50% kogu müügitulust. Vastav näitaja 2009. aasta IV kvartalis oli 44%. Kogu ekspordi osakaal oli I kvartalis 63% kogu müügitulust. Vastav näitaja 2009. aasta IV kvartalis oli 60%. Eesti kohalik trükiturg püsib endiselt tagasihoidlik ning on tõsise hinnasurve all. Printall on olnud samuti edukas erinevate püsikulude alandamisega. Igapäevase majandustegevuse olulisemateks sündmusteks I kvartalis olid: - 09.02.2010 müüs ettevõtte raamatukaubandusettevõtte Rahva Raamat. Tehingu hinnaks oli 33,0 miljonit krooni (2,1 miljonit eurot) ja raamatupidamislikuks kasumiks 6,3 miljonit krooni ( 0,4 miljonit eurot). - 25.02.2010 viis ettevõte lõpuni Ekspress Hotline'i müügitehingu. - Eesti Ekspressi toote restruktureerimine. Turule toodi uutlaadi ajakirjanäoline nädalaleht, mille tarbijad on hästi vastu võtnud. Toote restruktureerimise käigus vähenevad ettevõtte tootmiskulud ning tõuseb efektiivsus. Uuenenud toote on hästi vastu võtnud ka reklaamikliendid. - Eesti Ekspress alustas internetis mugaval makselahendusel baseeruvat artiklite müümist. Tegu on Eestis esimese lahendusega, kus kliendid saavad oma mobiiltelefoni maksevahendina kasutades lugeda internetist ajalehe artiklite täisversioone nende ilmumise päeval. Artiklite hinnaks on hetkel 1 kroon ning esimestel nädalatel on klientidel olnud võimalus osta keskmiselt 4-5 artiklit kirjeldatud makselahendust kasutades. Pikemas perspektiivis muutuvad kõik artiklite täisversioonid loetavaks tasu eest. - Eesti Päevaleht käivitas uue raamatusarja Eesti Mälu ning uuenenud sisu ja kujundusega EPL online'is käivitati ID-kaardi alusel kommenteerimine. - Delfi käivitas rahvaajakirjandusele baseeruva sektsiooni Rahva Hääl. Sektsiooni eesmärk on pakkuda Delfi kasutajatele võimalust saata avaldamiseks fotosid või artikleid neile silma jäänud uudisväärtusega sündmustest. Uus sektsioon on leidnud väga aktiivset osalemist ning Delfil on õnnestunud olla esimene mitmete originaaluudiste avaldajana Eesti meediakanalite hulgas. - Delfi Ukraina portaal on saanud täiendavad sisusektsioonid, mille eesmärk on kasvatada avaldatava infomahu hulga. Samuti on Ukrainas tugevdatud müügiorganisatsiooni eesmärgiga käivitada aktiivselt reklaamimüük. - Leedu Delfi võitis EU poolt rahastatava Euroopa Parlamendi portaali projekti. II kvartalist ootab ettevõte kasvu online meedia reklaamikäivetes, perioodiliste väljaannete reklaamikäibe stabiliseerumist eelmise aasta käivetele lähedasel tasemel ning trükiettevõtte jätkuvalt edukat laienemist eksportturgudel. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Online-meedia segment 2010 aasta esimese kvartalis kasvas kõigi Delfi Grupi kasutajaskond. Kõige suuremat kasvu näitas Delfi Ukraina, mille kasutajate arva võrreldes eelmise aasta esimese kvartaliga kasvas rohkem kui 12 korda. Eestis on Delfi endiselt kõige enam külastatavam portaal ning 2010. aasta esimeses kvartalis oli unikaalsete kasutajate arv 26% võrra suurem kui 2009 aasta esimeses kvartalis. 2010. aasta esimese kvartali lõpuks oli Delfil Eestis 736 628 unikaalset kasutajat kuus. Lätis on Delfi külastajate arvu poolest suuruselt kolmas internetikeskkond, kuid suurim uudisteportaal. 2010. aasta esimeses kvartalis suurenes unikaalsete kasutajate arv 5% võrra võrreldes 2009 aasta esimese kvartaliga. 2010. aasta esimese kvartali lõpuks oli Delfil Lätis 665 600 unikaalset kasutajat kuus. Leedus on Delfi kõige enam külastatav portaal. 2010. aasta esimeses kvartalis suurenes külastajate arv täiendavalt 2% võrrelduna 2009 aasta esimese kvartaliga ja unikaalsete kasutajate koguarv ulatus 1 003 791 kasutajani kuus. Delfi külastajate arv Ukrainas kasvas võrreldes 2009. aasta esimese kvartaliga rohkem kui 12 korda ulatudes 2010. aasta märtsis 420 525 unikaalse kasutajani kuus. Ukraina internetituru kasv jätkub eelkõige uute internetiühenduste loomise tulemusena ja on lähiaastatel kindlasti üks kõige kiiremini kasvavatest turgudest. Perioodiliste väljaannete segment Perioodiliste väljaannete segmenti kuulub Eesti Päevalehe ASi, Eesti Ajalehed ASi (Maaleht ja Eesti Ekspress), ASi SL Õhtuleht, ASi Linnaleht, UAB Express Leidyba ja ASi Ajakirjade Kirjastus ajalehtede ja ajakirjade kirjastamine ja väljaandmine. Kõik Ekspress Grupi ajalehtede ja ajakirjade väljaandjad ( v.a. AS Linnaleht) kirjastavad ka raamatuid. Investeeringud Põhivara soetused. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EEK | -------------------------------------------------------------------------------- | I kv 2010 | I kv 2009 | -------------------------------------------------------------------------------- | (tuhandetes) | | -------------------------------------------------------------------------------- | Materiaalse põhivara soetused | | | -------------------------------------------------------------------------------- | Ehitised | 0 | 83 | -------------------------------------------------------------------------------- | Masinad ja seadmed | 154 | 769 | -------------------------------------------------------------------------------- | Muu inventar | 919 | 1 627 | -------------------------------------------------------------------------------- | Lõpetamata ehitus ja ettemaksed | 0 | 1 113 | -------------------------------------------------------------------------------- | Kokku materiaalse põhivara soetused | 1 073 | 3 592 | -------------------------------------------------------------------------------- | Immateiaalse põhivara soetused | | | -------------------------------------------------------------------------------- | Arenguväljaminekud | 548 | 1 042 | -------------------------------------------------------------------------------- | Arvutite tarkvara | 420 | 605 | -------------------------------------------------------------------------------- | Ettemaksed | 330 | 4 | -------------------------------------------------------------------------------- | Kokku immateriaalse põhivara soetused | 1 298 | 1 651 | -------------------------------------------------------------------------------- | Põhivara soetused kokku | 2 371 | 5 243 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EUR | -------------------------------------------------------------------------------- | I kv 2010 | I kv 2009 | -------------------------------------------------------------------------------- | (tuhandetes) | | -------------------------------------------------------------------------------- | Materiaalse põhivara soetused | | | -------------------------------------------------------------------------------- | Ehitised | 0 | 5 | -------------------------------------------------------------------------------- | Masinad ja seadmed | 10 | 49 | -------------------------------------------------------------------------------- | Muu inventar | 59 | 104 | -------------------------------------------------------------------------------- | Lõpetamata ehitus ja ettemaksed | 0 | 71 | -------------------------------------------------------------------------------- | Kokku materiaalse põhivara soetused | 69 | 229 | -------------------------------------------------------------------------------- | Immateiaalse põhivara soetused | | | -------------------------------------------------------------------------------- | Arenguväljaminekud | 35 | 67 | -------------------------------------------------------------------------------- | Arvutite tarkvara | 27 | 56 | -------------------------------------------------------------------------------- | Ettemaksed | 21 | (17) | -------------------------------------------------------------------------------- | Kokku immateriaalse põhivara soetused | 83 | 106 | -------------------------------------------------------------------------------- | Põhivara soetused kokku | 152 | 335 | -------------------------------------------------------------------------------- 1. kvartali investeeringud on kõik korralised, et hädavajalikul määral parandada äritegevuses kasutatavaid varasid. Töötajad Ekspress Grupis töötas 2010. aasta 31. märtsi seisuga 1 796 inimest (31. märts 2009: 2 270 inimest). 2010. aasta esimese kvartali keskmine töötajate arv oli 1 787 (2009. aasta esimese kvartali keskmine koos lõpetatud tegevusvaldkondade töötajatega: 2 282). Ekspress Grupi töötajatele maksti 2010. aasta esimese kvartali jooksul töötasusid kokku 57,7 miljonit krooni (3,7 miljonit eurot), (2009. aasta esimene kvartal koos lõpetatud tegevusvaldkondade tööjõukuluga: 75,8 miljonit krooni (4,8 miljonit eurot))*. Konsolideeritud finantsseisundi aruanne (auditeerimata) -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EEK | -------------------------------------------------------------------------------- | 31.03.2010 | 31.12.2009 | 31.03.2009 | -------------------------------------------------------------------------------- | (tuhandetes) | | -------------------------------------------------------------------------------- | VARAD | | | | | -------------------------------------------------------------------------------- | Käibevara | | | | -------------------------------------------------------------------------------- | Raha | 23 589 | 39 953 | 29 216 | -------------------------------------------------------------------------------- | Finantsvarad õiglases | 29 056 | 892 | 4 472 | | väärtuses muutusega läbi | | | | | kasumiaruande | | | | -------------------------------------------------------------------------------- | Nõuded ja ettemaksed | 122 563 | 120 136 | 152 084 | -------------------------------------------------------------------------------- | Varud | 42 724 | 55 160 | 62 836 | -------------------------------------------------------------------------------- | Käibevara kokku | 217 932 | 216 141 | 248 608 | -------------------------------------------------------------------------------- | Varad lõpetatud | 0 | 93 457 | 0 | | tegevusvaldkonnast | | | | -------------------------------------------------------------------------------- | Põhivara | | | | -------------------------------------------------------------------------------- | Nõuded ja ettemaksed | 5 483 | 5 697 | 4 255 | -------------------------------------------------------------------------------- | Investeeringud | 371 | 640 | 354 | | sidusettevõtetesse | | | | -------------------------------------------------------------------------------- | Kinnisvarainvesteeringud | 6 360 | 6 360 | 12 341 | -------------------------------------------------------------------------------- | Materiaalne põhivara (lisa 4) | 321 768 | 345 938 | 382 732 | -------------------------------------------------------------------------------- | Immateriaalne põhivara (lisa | 807 273 | 821 613 | 1 010 095 | | 4) | | | | -------------------------------------------------------------------------------- | Põhivara kokku | 1 141 | 1 180 248 | 1 409 777 | | | 255 | | | -------------------------------------------------------------------------------- | VARAD KOKKU | 1 359 | 1 489 846 | 1 658 385 | | | 187 | | | -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL | | | | -------------------------------------------------------------------------------- | Kohustused | | | | -------------------------------------------------------------------------------- | Lühiajalised kohustused | | | | -------------------------------------------------------------------------------- | Laenukohustused (lisa 5) | 109 795 | 143 093 | 167 440 | -------------------------------------------------------------------------------- | Võlad ja ettemaksed | 225 910 | 283 668 | 239 465 | -------------------------------------------------------------------------------- | Lühiajalised kohustused kokku | 335 705 | 426 761 | 406 905 | -------------------------------------------------------------------------------- | Kohustused lõpetatud | 0 | 17 231 | 0 | | tegevusvaldkonnast | | | | -------------------------------------------------------------------------------- | Pikaajalised kohustused | | | | -------------------------------------------------------------------------------- | Pikaajalised laenukohustused | 574 131 | 583 047 | 620 236 | | (lisa 5) | | | | -------------------------------------------------------------------------------- | Muud pikaajalised võlad | 181 | 28 | 325 | -------------------------------------------------------------------------------- | Pikaajalised eraldised | 13 993 | 13 993 | 9 555 | -------------------------------------------------------------------------------- | Pikaajalised kohustused kokku | 588 305 | 597 068 | 630 116 | -------------------------------------------------------------------------------- | Kohustused kokku | 924 010 | 1 041 060 | 1 037 021 | -------------------------------------------------------------------------------- | Omakapital | | | | -------------------------------------------------------------------------------- | Emaettevõtja aktsionäridele | | | | | kuuluv osa omakapitalist | | | | -------------------------------------------------------------------------------- | Aktsiakapital | 208 488 | 208 488 | 208 488 | -------------------------------------------------------------------------------- | Ülekurss | 192 883 | 192 883 | 192 883 | -------------------------------------------------------------------------------- | Reservid | (313) | (313) | 4 125 | -------------------------------------------------------------------------------- | Jaotamata kasum | 33 958 | 45 805 | 214 304 | -------------------------------------------------------------------------------- | Valuutakursi muutuste reserv | (127) | 1 635 | 1 276 | -------------------------------------------------------------------------------- | Emaettevõtja aktsionäridele | 434 889 | 448 498 | 621 076 | | kuuluv osa omakapitalist kokku | | | | -------------------------------------------------------------------------------- | Vähemusosalus | 288 | 288 | 288 | -------------------------------------------------------------------------------- | Omakapital kokku | 435 177 | 448 786 | 621 364 | -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL KOKKU | 1 359 | 1 489 846 | 1 658 385 | | | 187 | | | -------------------------------------------------------------------------------- Konsolideeritud finantsseisundi aruanne (auditeerimata) -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EUR | -------------------------------------------------------------------------------- | 31.03.2010 | 31.12.2009 | 31.03.2009 | -------------------------------------------------------------------------------- | (tuhandetes) | | -------------------------------------------------------------------------------- | VARAD | | | | | -------------------------------------------------------------------------------- | Käibevara | | | | -------------------------------------------------------------------------------- | Raha | 1 508 | 2 553 | 1 867 | -------------------------------------------------------------------------------- | Finantsvarad õiglases | 1 857 | 57 | 286 | | väärtuses muutusega läbi | | | | | kasumiaruande | | | | -------------------------------------------------------------------------------- | Nõuded ja ettemaksed | 7 834 | 7 677 | 9 719 | -------------------------------------------------------------------------------- | Varud | 2 731 | 3 525 | 4 016 | -------------------------------------------------------------------------------- | Käibevara kokku | 13 930 | 13 812 | 15 888 | -------------------------------------------------------------------------------- | Varad lõpetatud | 0 | 5 973 | 0 | | tegevusvaldkonnast | | | | -------------------------------------------------------------------------------- | Põhivara | | | | -------------------------------------------------------------------------------- | Nõuded ja ettemaksed | 348 | 364 | 273 | -------------------------------------------------------------------------------- | Investeeringud | 24 | 41 | 23 | | sidusettevõtetesse | | | | -------------------------------------------------------------------------------- | Kinnisvarainvesteeringud | 406 | 406 | 789 | -------------------------------------------------------------------------------- | Materiaalne põhivara (lisa 4) | 20 565 | 22 109 | 24 461 | -------------------------------------------------------------------------------- | Immateriaalne põhivara (lisa | 51 594 | 52 511 | 64 557 | | 4) | | | | -------------------------------------------------------------------------------- | Põhivara kokku | 72 937 | 75 431 | 90 103 | -------------------------------------------------------------------------------- | VARAD KOKKU | 86 867 | 95 216 | 105 991 | -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL | | | | -------------------------------------------------------------------------------- | Kohustused | | | | -------------------------------------------------------------------------------- | Lühiajalised kohustused | | | | -------------------------------------------------------------------------------- | Laenukohustused (lisa 5) | 7 017 | 9 145 | 10 701 | -------------------------------------------------------------------------------- | Võlad ja ettemaksed | 14 438 | 18 130 | 15 305 | -------------------------------------------------------------------------------- | Lühiajalised kohustused kokku | 21 455 | 27 275 | 26 006 | -------------------------------------------------------------------------------- | Kohustused lõpetatud | 0 | 1 101 | 0 | | tegevusvaldkonnast | | | | -------------------------------------------------------------------------------- | Pikaajalised kohustused | | | | -------------------------------------------------------------------------------- | Pikaajalised laenukohustused | 36 694 | 37 263 | 39 640 | | (lisa 5) | | | | -------------------------------------------------------------------------------- | Muud pikaajalised võlad | 12 | 2 | 21 | -------------------------------------------------------------------------------- | Pikaajalised eraldised | 894 | 894 | 611 | -------------------------------------------------------------------------------- | Pikaajalised kohustused kokku | 37 600 | 38 159 | 40 272 | -------------------------------------------------------------------------------- | Kohustused kokku | 59 055 | 66 535 | 66 278 | -------------------------------------------------------------------------------- | Omakapital | | | | -------------------------------------------------------------------------------- | Emaettevõtja aktsionäridele | | | | | kuuluv osa omakapitalist | | | | -------------------------------------------------------------------------------- | Aktsiakapital | 13 325 | 13 325 | 13 325 | -------------------------------------------------------------------------------- | Ülekurss | 12 327 | 12 327 | 12 327 | -------------------------------------------------------------------------------- | Reservid | (20) | -20 | 264 | -------------------------------------------------------------------------------- | Jaotamata kasum | 2 170 | 2 927 | 13 697 | -------------------------------------------------------------------------------- | Valuutakursi muutuste reserv | -8 | 104 | 82 | -------------------------------------------------------------------------------- | Emaettevõtja aktsionäridele | 27 794 | 28 663 | 39 695 | | kuuluv osa omakapitalist kokku | | | | -------------------------------------------------------------------------------- | Vähemusosalus | 18 | 18 | 18 | -------------------------------------------------------------------------------- | Omakapital kokku | 27 812 | 28 681 | 39 713 | -------------------------------------------------------------------------------- | KOHUSTUSED JA OMAKAPITAL KOKKU | 86 867 | 95 216 | 105 991 | -------------------------------------------------------------------------------- Konsolideeritud koondkasumiaruanne (auditeerimata) -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EEK | -------------------------------------------------------------------------------- | I kv 2010 | I kv 2009 | -------------------------------------------------------------------------------- | (tuhandetes) | | -------------------------------------------------------------------------------- | Müügitulu | 183 069 | 207 130 | -------------------------------------------------------------------------------- | Müüdud toodangu kulu | 150 157 | 172 672 | -------------------------------------------------------------------------------- | Brutokasum | 32 912 | 34 458 | -------------------------------------------------------------------------------- | Turunduskulud | 8 429 | 10 920 | -------------------------------------------------------------------------------- | Üldhalduskulud | 26 586 | 30 231 | -------------------------------------------------------------------------------- | Muud äritulud | 7 237 | 944 | -------------------------------------------------------------------------------- | Muud ärikulud | 314 | 1 031 | -------------------------------------------------------------------------------- | Ärikasum | 4 820 | (6 780) | -------------------------------------------------------------------------------- | Intressitulud | 173 | 633 | -------------------------------------------------------------------------------- | Intressikulud | (9 646) | (10 835) | -------------------------------------------------------------------------------- | Kasum (kahjum) valuutakursi muutusest | 453 | 144 | -------------------------------------------------------------------------------- | Muud finantstulud | 0 | 119 | -------------------------------------------------------------------------------- | Muud finantskulud | (362) | (276) | -------------------------------------------------------------------------------- | Kokku finantstulud/kulud | (9 382) | (10 215) | -------------------------------------------------------------------------------- | Kasum sidusettevõtete aktsiatelt ja | (826) | 133 | | osadelt | | | -------------------------------------------------------------------------------- | Kasum enne tulumaksustamist | (5 388) | (16 862) | -------------------------------------------------------------------------------- | Tulumaks | 5 796 | 386 | -------------------------------------------------------------------------------- | Kahjum jätkuvatest tegevusvaldkondadest | (11 184) | (17 248) | -------------------------------------------------------------------------------- | Kasum/-kahjum lõpetatud tegevustest | (663) | (345) | -------------------------------------------------------------------------------- | Aruandeperioodi kasum | (11 847) | (17 593) | -------------------------------------------------------------------------------- | Aruandeaasta puhaskasumi/-kahjumi jaotus: | | | -------------------------------------------------------------------------------- | Emaettevõtja aktsionäride osa | (11 847) | (17 593) | | kasumist/kahjumist | | | -------------------------------------------------------------------------------- | Muu koondkasum/-kahjum | | | -------------------------------------------------------------------------------- | Realiseerimata kursivahed | (1 762) | (77) | -------------------------------------------------------------------------------- | Muu koondkasum/-kahjum kokku | (13 609) | (17 670) | -------------------------------------------------------------------------------- | Aruandeaasta puhaskasumi/-kahjumi jaotus: | | | -------------------------------------------------------------------------------- | Emaettevõtja aktsionäride osa kasumist | (13 609) | (17 670) | -------------------------------------------------------------------------------- | Tava- ja lahustunud kasum aktsia kohta | (0,57) | (0,85) | | (lisa 9) | | | -------------------------------------------------------------------------------- Konsolideeritud koondkasumiaruanne (auditeerimata) -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EUR | -------------------------------------------------------------------------------- | I kv 2010 | I kv 2009 | -------------------------------------------------------------------------------- | (tuhandetes) | | -------------------------------------------------------------------------------- | Müügitulu | 11 700 | 13 238 | -------------------------------------------------------------------------------- | Müüdud toodangu kulu | 9 597 | 11 036 | -------------------------------------------------------------------------------- | Brutokasum | 2 103 | 2 202 | -------------------------------------------------------------------------------- | Turunduskulud | 539 | 698 | -------------------------------------------------------------------------------- | Üldhalduskulud | 1 699 | 1 932 | -------------------------------------------------------------------------------- | Muud äritulud | 464 | 60 | -------------------------------------------------------------------------------- | Muud ärikulud | 20 | 66 | -------------------------------------------------------------------------------- | Ärikasum | 309 | (434) | -------------------------------------------------------------------------------- | Intressitulud | 11 | 40 | -------------------------------------------------------------------------------- | Intressikulud | (616) | (692) | -------------------------------------------------------------------------------- | Kasum (kahjum) valuutakursi muutusest | 29 | 9 | -------------------------------------------------------------------------------- | Muud finantstulud | 0 | 8 | -------------------------------------------------------------------------------- | Muud finantskulud | (23) | (18) | -------------------------------------------------------------------------------- | Kokku finantstulud/kulud | (599) | (653) | -------------------------------------------------------------------------------- | Kasum sidusettevõtete aktsiatelt ja | (53) | 9 | | osadelt | | | -------------------------------------------------------------------------------- | Kasum enne tulumaksustamist | (343) | (1 078) | -------------------------------------------------------------------------------- | Tulumaks | 370 | 25 | -------------------------------------------------------------------------------- | Kahjum jätkuvatest tegevusvaldkondadest | (713) | (1 103) | -------------------------------------------------------------------------------- | Kasum/-kahjum lõpetatud tegevustest | (42) | (22) | -------------------------------------------------------------------------------- | Aruandeperioodi kasum | (755) | (1 125) | -------------------------------------------------------------------------------- | Aruandeaasta puhaskasumi/-kahjumi jaotus: | | | -------------------------------------------------------------------------------- | Emaettevõtja aktsionäride osa | (755) | (1 125) | | kasumist/kahjumist | | | -------------------------------------------------------------------------------- | Muu koondkasum/-kahjum | | | -------------------------------------------------------------------------------- | Realiseerimata kursivahed | (113) | (5) | -------------------------------------------------------------------------------- | Muu koondkasum/-kahjum kokku | (826) | (1 108) | -------------------------------------------------------------------------------- | Aruandeaasta puhaskasumi/-kahjumi jaotus: | | | -------------------------------------------------------------------------------- | Emaettevõtja aktsionäride osa kasumist | (868) | (1 130) | -------------------------------------------------------------------------------- | Tava- ja lahustunud kasum aktsia kohta | (0,04) | (0,05) | | (lisa 9) | | | -------------------------------------------------------------------------------- Konsolideeritud rahavoogude aruanne (auditeerimata) -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EEK | -------------------------------------------------------------------------------- | I kv 2010 | I kv 2009 | -------------------------------------------------------------------------------- | (tuhandetes) | | -------------------------------------------------------------------------------- | Rahavood äritegevusest | | | -------------------------------------------------------------------------------- | Aruandeperioodi ärikasum /-kahjum | 4 820 | (6 780) | -------------------------------------------------------------------------------- | Korrigeerimised: | | | -------------------------------------------------------------------------------- | Põhivara kulum ja väärtuse langus | 13 040 | 13 542 | -------------------------------------------------------------------------------- | Kasum(-) kahjum(+) põhiv.müügist ja | 18 | (184) | | mahakandmisest | | | -------------------------------------------------------------------------------- | Muutus käibekapitalis: | | | -------------------------------------------------------------------------------- | Äritegevusega seotud nõuete ja ettemaksete | 655 | 13 264 | | muutus | | | -------------------------------------------------------------------------------- | Varude muutus | (1 614) | (42) | -------------------------------------------------------------------------------- | Äritegevusega seotud kohustuste ja | (56 877) | (3 671) | | ettemaksete muutus | | | -------------------------------------------------------------------------------- | Rahavoog põhitegevusest | (39 958) | 16 129 | -------------------------------------------------------------------------------- | Makstud ettevõtte tulumaks | (5 796) | (386) | -------------------------------------------------------------------------------- | Makstud intressid | (9 646) | (10 835) | -------------------------------------------------------------------------------- | Rahavood jätkuvate tegevusvaldkondade | (55 400) | 4 908 | | äritegevusest kokku | | | -------------------------------------------------------------------------------- | Lõpetatud tegevusvalkonna rahavood | (16 718) | (9 272) | | äritegevusest | | | -------------------------------------------------------------------------------- | Rahavood investeerimistegevusest | | | -------------------------------------------------------------------------------- | Finantsvarade müük | 62 266 | 0 | -------------------------------------------------------------------------------- | Saadud intressid | 173 | 633 | -------------------------------------------------------------------------------- | Põhivara soetamine | (2 370) | (3 705) | -------------------------------------------------------------------------------- | Põhivara müük | 2 739 | 337 | -------------------------------------------------------------------------------- | Antud laenud | (2) | (2 697) | -------------------------------------------------------------------------------- | Antud laenude tagasimaksed | 25 | 3 539 | -------------------------------------------------------------------------------- | Rahavood jätkuvate tegevusvaldkondade | 62 831 | (1 893) | | investeerimistegevusest kokku | | | -------------------------------------------------------------------------------- | Lõpetatud tegevusvaldkonna rahavood | 32 851 | (1 032) | | investeerimistegevusest | | | -------------------------------------------------------------------------------- | Rahavood finantseerimistegevusest | | | -------------------------------------------------------------------------------- | Aktsiate emiteerimine | 0 | 28 166 | -------------------------------------------------------------------------------- | Tasutud kapitalirendi maksed | (5 963) | (8 744) | -------------------------------------------------------------------------------- | Arvelduskrediidi kasutuse muutus | 152 | 8 134 | -------------------------------------------------------------------------------- | Saadud laenud | 1 900 | 0 | -------------------------------------------------------------------------------- | Saadud laenude tagasimaksed | (35 941) | (37 126) | -------------------------------------------------------------------------------- | Rahavood jätkuvate tegevusvaldkondade | (39 852) | (9 570) | | finantseerimistegevusest kokku | | | -------------------------------------------------------------------------------- | Lõpetatud tegevusvaldkonna rahavood | (76) | (313) | | finantseerimistegevusest | | | -------------------------------------------------------------------------------- | RAHA JA RAHA EKVIVALENTIDE MUUTUS | (16 364) | (17 172) | -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid perioodi alguses | 39 953 | 46 388 | -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid perioodi lõpus | 23 589 | 29 216 | -------------------------------------------------------------------------------- Konsolideeritud rahavoogude aruanne (auditeerimata) -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EUR | -------------------------------------------------------------------------------- | I kv 2010 | I kv 2009 | -------------------------------------------------------------------------------- | (tuhandetes) | | -------------------------------------------------------------------------------- | Rahavood äritegevusest | | | -------------------------------------------------------------------------------- | Aruandeperioodi ärikasum /-kahjum | 309 | (434) | -------------------------------------------------------------------------------- | Korrigeerimised: | | | -------------------------------------------------------------------------------- | Põhivara kulum ja väärtuse langus | 833 | 865 | -------------------------------------------------------------------------------- | Kasum(-) kahjum(+) põhiv.müügist ja | 1 | (12) | | mahakandmisest | | | -------------------------------------------------------------------------------- | Muutus käibekapitalis: | 0 | 0 | -------------------------------------------------------------------------------- | Äritegevusega seotud nõuete ja ettemaksete | 41 | 849 | | muutus | | | -------------------------------------------------------------------------------- | Varude muutus | (103) | (3) | -------------------------------------------------------------------------------- | Äritegevusega seotud kohustuste ja | (3 635) | (235) | | ettemaksete muutus | | | -------------------------------------------------------------------------------- | Rahavoog põhitegevusest | (2 554) | 1 031 | -------------------------------------------------------------------------------- | Makstud ettevõtte tulumaks | (370) | (25) | -------------------------------------------------------------------------------- | Makstud intressid | (616) | (692) | -------------------------------------------------------------------------------- | Rahavood jätkuvate tegevusvaldkondade | (3 541) | 314 | | äritegevusest kokku | | | -------------------------------------------------------------------------------- | Lõpetatud tegevusvalkonna rahavood | (1 068) | (593) | | äritegevusest | | | -------------------------------------------------------------------------------- | Rahavood investeerimistegevusest | | | -------------------------------------------------------------------------------- | Finantsvarade müük | 3 980 | 0 | -------------------------------------------------------------------------------- | Saadud intressid | 11 | 40 | -------------------------------------------------------------------------------- | Põhivara soetamine | (151) | (237) | -------------------------------------------------------------------------------- | Põhivara müük | 175 | 22 | -------------------------------------------------------------------------------- | Antud laenud | (0) | (172) | -------------------------------------------------------------------------------- | Antud laenude tagasimaksed | 2 | 226 | -------------------------------------------------------------------------------- | Rahavood jätkuvate tegevusvaldkondade | 4 016 | (121) | | investeerimistegevusest kokku | | | -------------------------------------------------------------------------------- | Lõpetatud tegevusvaldkonna rahavood | 2 100 | (66) | | investeerimistegevusest | | | -------------------------------------------------------------------------------- | Rahavood finantseerimistegevusest | | | -------------------------------------------------------------------------------- | Aktsiate emiteerimine | 0 | 1 800 | -------------------------------------------------------------------------------- | Tasutud kapitalirendi maksed | (381) | (559) | -------------------------------------------------------------------------------- | Arvelduskrediidi kasutuse muutus | 10 | 520 | -------------------------------------------------------------------------------- | Saadud laenud | 121 | 0 | -------------------------------------------------------------------------------- | Saadud laenude tagasimaksed | (2 297) | (2 373) | -------------------------------------------------------------------------------- | Rahavood jätkuvate tegevusvaldkondade | (2 547) | (612) | | finantseerimistegevusest kokku | | | -------------------------------------------------------------------------------- | Lõpetatud tegevusvaldkonna rahavood | (5) | (20) | | finantseerimistegevusest | | | -------------------------------------------------------------------------------- | RAHA JA RAHA EKVIVALENTIDE MUUTUS | (1 046) | (1 097) | -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid perioodi alguses | 2 553 | 2 965 | -------------------------------------------------------------------------------- | Raha ja raha ekvivalendid perioodi lõpus | 1 508 | 1 867 | -------------------------------------------------------------------------------- Lisainformatsioon: Gunnar Kobin Juhatuse esimees GSM: +372 5188111 e-mail: [email protected]
Content of announcement in English
Title
AS Ekspress Grupp Consolidated interim report for the first quarter of 2010
Message
Selected financial indicators EEK -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EEK | -------------------------------------------------------------------------------- | Q I 2010 | Q I 2009 | -------------------------------------------------------------------------------- | Financial indicators | | Change % | | (thousand) | | | -------------------------------------------------------------------------------- | Accounting period | | | | -------------------------------------------------------------------------------- | Sales | 183 069 | 207 130 | -11.6% | -------------------------------------------------------------------------------- | Gross profit | 32 912 | 34 458 | -4.5% | -------------------------------------------------------------------------------- | EBITDA | 17 851 | 6 762 | 164.1% | -------------------------------------------------------------------------------- | Operating profit | 4 820 | (6 780) | 171.2% | -------------------------------------------------------------------------------- | Net profit (loss) for the | (11 847) | (17 593) | 32.9% | | periood | | | | -------------------------------------------------------------------------------- | | 31.03.2010 | 31.03.2009 | | -------------------------------------------------------------------------------- | Total current assets | 217 932 | 248 608 | -12.3% | -------------------------------------------------------------------------------- | Total non-current assets | 1 141 255 | 1 409 777 | -19.1% | -------------------------------------------------------------------------------- | Total assets | 1 359 187 | 1 658 385 | -18.0% | -------------------------------------------------------------------------------- | Total short-term | 335 705 | 406 905 | -17.5% | | liabilities | | | | -------------------------------------------------------------------------------- | Total long-term liabilities | 588 305 | 630 116 | -6.6% | -------------------------------------------------------------------------------- | Total liabilities | 924 010 | 1 037 021 | -10.9% | -------------------------------------------------------------------------------- | Total equity | 435 177 | 621 364 | -30.0% | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Selected financial indicators EUR -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EUR | -------------------------------------------------------------------------------- | Q I 2010 | Q I 2009 | -------------------------------------------------------------------------------- | Financial indicators | | Change % | | (thousand) | | | -------------------------------------------------------------------------------- | Accounting period | | | | -------------------------------------------------------------------------------- | Sales | 11 700 | 13 238 | -11.6% | -------------------------------------------------------------------------------- | Gross profit | 2 103 | 2 202 | -4.5% | -------------------------------------------------------------------------------- | EBITDA | 1 141 | 432 | 164.1% | -------------------------------------------------------------------------------- | Operating profit | 308 | (433) | 171.2% | -------------------------------------------------------------------------------- | Net profit (loss) for the | (757) | (1 124) | 32.9% | | periood | | | | -------------------------------------------------------------------------------- | | 31.03.2010 | 31.03.2009 | | -------------------------------------------------------------------------------- | Total current assets | 13 928 | 15 889 | -12.3% | -------------------------------------------------------------------------------- | Total non-current assets | 72 939 | 90 101 | -19.1% | -------------------------------------------------------------------------------- | Total assets | 86 868 | 105 990 | -18.0% | -------------------------------------------------------------------------------- | Total short-term | 21 455 | 26 006 | -17.5% | | liabilities | | | | -------------------------------------------------------------------------------- | Total long-term liabilities | 37 600 | 40 272 | -6.6% | -------------------------------------------------------------------------------- | Total liabilities | 59 055 | 66 278 | -10.9% | -------------------------------------------------------------------------------- | Total equity | 27 813 | 39 712 | -30.0% | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Performance indicators (%) | | Q I 2010 | Q I 2009 | -------------------------------------------------------------------------------- | Sales growth (%) | -12% | -20% | -------------------------------------------------------------------------------- | Gross profit margin (%) | 18% | 17% | -------------------------------------------------------------------------------- | Net profit margin (%) | -6% | -8% | -------------------------------------------------------------------------------- | Equity ratio (%) | 32% | 37% | -------------------------------------------------------------------------------- | ROA (%) | -1% | -1% | -------------------------------------------------------------------------------- | ROE (%) | -3% | -3% | -------------------------------------------------------------------------------- | EBITDA margin (%) | 10% | 3% | -------------------------------------------------------------------------------- | Operating profit margin (%) | 3% | -3% | -------------------------------------------------------------------------------- | Liquidity ratio | 65% | 61% | | | | | -------------------------------------------------------------------------------- | Debt equity ratio (%) | 166% | 133% | -------------------------------------------------------------------------------- | Financial leverage (%) | 58% | 54% | -------------------------------------------------------------------------------- | Earnings per share EEK | (0,57) | (0,85) | -------------------------------------------------------------------------------- | Earnings per share EUR | (0,04) | (0,05) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Sales growth (%) | (sales IHY 2010 -sales IHY 2009) / | | | sales IHY 2009*100 | -------------------------------------------------------------------------------- | Gross profit margin (%) | gross profit/ sales*100 | | | | -------------------------------------------------------------------------------- | Net profit margin (%) | net profit/ sales*100 | | | | -------------------------------------------------------------------------------- | Equity ratio (%) | equity / (equity + debt) * 100 | -------------------------------------------------------------------------------- | ROA (%) | net profit/assets *100 | -------------------------------------------------------------------------------- | ROE (%) | net profit/equity *100 | | | | -------------------------------------------------------------------------------- | EBITDA margin (%) | EBITDA/sales*100 | -------------------------------------------------------------------------------- | Operating profit margin | operating profit/ sales*100 | | (%) | | -------------------------------------------------------------------------------- | Liquidity ratio | current assets/current liabilities | | | | -------------------------------------------------------------------------------- | Debt equity ratio (%) | interest bearing liabilities/equity*100 | -------------------------------------------------------------------------------- | Financial leverage (%) | interest bearing liabilities-cash and cash | | | equivalents/interest bearing liabilities + | | | equity * 100 | -------------------------------------------------------------------------------- Despite a sales decline as compared to the same period in the previous year, the Company's EBITDA totalled EEK 18 million (EUR 1.1 million), which is 164% higher than a year ago. Normalised EBITDA (exclusive of the extraordinary sales revenue of Rahva Raamat) amounted to EEK 11.5 million (EUR 0.7 million), which is 76% higher than a year ago. Cost-cutting has contributed the most to the achievement of this result. The level of staff costs as compared to the same period of the previous year has dropped by 17% in comparable companies, fixed costs have also decreased. The change in sales has been drastic as compared to the previous year, but the difference from the previous period has declined from month to month. In the first quarter, the consolidated advertising sales have dropped by 12%, the retail sales by 28%, the sales of subscriptions by 11%. In the segment of periodicals, the sales as a whole have declined by 22%, in the online media segment by 6%. Growth in the sales of consolidated printing services has been moderate as compared to the previous year. At the level of companies, Delfi Group has achieved EBITDA that is comparable to the previous year, being 7% better. Largest growth of 187% occurred in Delfi Estonia. Due to the continuously challenging economic environment, Delfi Latvia has not reached the result of the previous year. The result of Delfi Lithuania is partially influenced by one-off costs related to the 10th anniversary celebrations of the company. The costs of Delfi Ukraine have increased mainly due to internal accounting where the general costs of the whole group are shared with the Ukrainian company from this year. Of the periodicals, Eesti Ekspress and Eesti Ajalehed, the publisher of Maaleht, have earned better normalised EBITDA (exclusive of the sale of Rahva Raamat) as compared to the previous year, with growth of 126%. Although Õhtuleht as a company earned EBITDA of EEK 1.5 million (EUR 0,1 million), it is 54% less than the result in the previous year. The main reason for this is a weak advertising market, but Õhtuleht still represents one of the most profitable newspapers in Estonia. The EBITDA of Ajakirjade Kirjastus has improved by 111% as compared to the previous year mainly as a result of reduced costs and closed unprofitable magazines. In the first quarter, the publisher of magazines in Lithuania has earned a loss of EEK 1.2 million (EUR 0.1 million), which is 16% worse than in the previous year. Of the periodicals, the largest loss of EEK 5.9 million (EUR 0.4 million) was incurred by Eesti Päevaleht, but a major share of this loss is related to the launching cost of a new book series and a shift of income to the next quarter. The result of the Group has been significantly influenced by the printing company Printall that earned EBITDA of EEK 19.0 million (EUR 1.2 million) in the first quarter. It is the best result ever for Printall in the first quarter, the profit has increased by 35% as compared to the previous year. Growth of export income contributes the most to the result, the company has vigorously expanded its client portfolio in Scandinavia and Western Europe. Exports to Northern and Western European countries increased by 21% as compared to the same period of 2009 and by 54% as compared to the first quarter of 2008, contributing 50% to total sales revenue. In the fourth quarter of 2009, the corresponding percentage was 44%. In the first quarter, the share of total exports was 63% of the total sales revenue. This percentage was 60% in the fourth quarter of 2009. The Estonian local printing market continues to be modest and is under serious price pressure. Printall has also successfully managed to reduce various fixed costs. In the first quarter, the most important events of everyday economic activities were: - on 9 February 2010, the Company sold its book trade company Rahva Raamat. The transaction price was EEK 33.0 million (EUR 2.1 million) and the accounting profit was EEK 6.3 million (EUR 0.4 million) - on 25 February 2010, the Company completed the sales transaction of Ekspress Hotline. - Restructuring of the product of Eesti Ekspress. A new type of weekly newspaper similar to a magazine was introduced to the market, which has been well received by the consumers. During the restructuring of the product, the production costs of the Company will decline and efficiency will increase. The renewed product has also been well received by the advertising customers. - Eesti Ekspress started to sell online articles that are based on a convenient payment option. This represents the first opportunity in Estonia where clients can read full versions of newspaper articles online at the day they are published, using their mobile phones for payment. Currently, the articles cost EEK 1 and in the first weeks, the clients have been able to buy 4-5 articles on average using this payment option. In the long-term, all full versions of articles can be accessed for reading for a fee. - Eesti Päevaleht launched a new book series Eesti Mälu (Memory of Estonia) and EPL online with new contents and a design launched commenting using ID cards. - Delfi launched the section Rahva Hääl (Voice of People) based on the people's press. The goal of the section is to provide an opportunity for the users of Delfi to publish their photos or articles of the events that have caught their attention. The new section has rapidly become widely used and Delfi has managed to be the first media channel in Estonia to publish several original news stories. - Several additional contents sections have been added to Delfi Ukraine portal with the goal of increasing the volume of information to be published. The sales organisation has also been strengthened in Ukraine with the goal of actively launching advertising sales. - Lithuania's Delfi won the portal project of the European Parliament to be funded by the EU. In the 2nd quarter, the Company expects growth from online media advertising sales, stabilisation of advertising sales of periodicals at the level close to that of the previous year and continued successful expansion of the printing company in export markets. Online media segment In the 1st quarter, the number of visitors of Delfi Group increased in all markets. Delfi Ukraine experienced the largest growth - the number of visitors increased by more than 12 times as compared to the same period of 2009. In Estonia, Delfi is the most viisted web site. In the 1st quarter, the number of unique users was 26% higher as compared to the same period of 2009. By the end of the1st quarter, Delfi had 736 628 monthly unique users in Estonia. In Latvia, Delfi is the third largest web site by the number of visitors but the largest newsportal. In the 1st quarter, the number of unique users increased by 5% as compared to the same period of 2009. By the end of the 1st quarter, Delfi had 665 600 monthly unique users in Latvia. In Lithuania, Delfi is the most visited web site. In the 1st quarter, there was a further increase by 2% as compared to the same period of 2009 and the total number of visitors reached 1 003 791 monthly unique users. In Ukraine, the number of unique users increased in the 1st quarter by more than 12 times as compared to the same period of 2009. In March 2010, the number of visitors reached 420 525 monthly unique users. The growth of the Ukraine online market continues foremost due to creation of new internet connections and the market will be one of the fastest growing markets in the coming years. Publishing segment The publishing segment includes newspaper and magazine publishing of Eesti Päevalehe AS, Eesti Ajalehed AS (Maaleht and Eesti Ekspress), AS SL Õhtuleht, AS Linnaleht, UAB Ekpress Leidyba and AS Ajakirjade Kirjastus. All newspaper and magazine publishing units (except AS Linnaleht) of AS Ekspress Grupp also publish books. Investments Acquisition of fixed assets -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EEK | -------------------------------------------------------------------------------- | Q I 2010 | Q I 2009 | -------------------------------------------------------------------------------- | (thousand) | | -------------------------------------------------------------------------------- | Acquisition of property, plant and | | | | equipment | | | -------------------------------------------------------------------------------- | Buildings | 0 | 83 | -------------------------------------------------------------------------------- | Plant and equipment | 154 | 769 | -------------------------------------------------------------------------------- | Other equipment | 919 | 1627 | -------------------------------------------------------------------------------- | Unfinished buildings and prepayments | 0 | 1113 | -------------------------------------------------------------------------------- | Acquisition of property, plant and | 1073 | 3592 | | equipment total | | | -------------------------------------------------------------------------------- | Acquisition of intangible assets | | | -------------------------------------------------------------------------------- | Development | 548 | 1042 | -------------------------------------------------------------------------------- | Compu-ter software | 420 | 605 | -------------------------------------------------------------------------------- | Prepayments | 330 | 4 | -------------------------------------------------------------------------------- | Acquisition of intangible assets total | 1298 | 1651 | -------------------------------------------------------------------------------- | Acquisition of fixed assets total | 2371 | 5243 | -------------------------------------------------------------------------------- Acquisition of fixed assets -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EUR | -------------------------------------------------------------------------------- | Q I 2010 | Q I 2009 | -------------------------------------------------------------------------------- | (thousand) | | -------------------------------------------------------------------------------- | Acquisition of property, plant and | | | | equipment | | | -------------------------------------------------------------------------------- | Buildings | 0 | 5 | -------------------------------------------------------------------------------- | Plant and equipment | 10 | 49 | -------------------------------------------------------------------------------- | Other equipment | 59 | 104 | -------------------------------------------------------------------------------- | Unfinished buildings and prepayments | 0 | 71 | -------------------------------------------------------------------------------- | Acquisition of property, plant and | 69 | 229 | | equipment total | | | -------------------------------------------------------------------------------- | Acquisition of intangible assets | | | -------------------------------------------------------------------------------- | Development | 35 | 67 | -------------------------------------------------------------------------------- | Compu-ter software | 27 | 56 | -------------------------------------------------------------------------------- | Prepayments | 21 | (17) | -------------------------------------------------------------------------------- | Acquisition of intangible assets total | 83 | 106 | -------------------------------------------------------------------------------- | Acquisition of fixed assets total | 152 | 335 | -------------------------------------------------------------------------------- All investments in the 1st quarter were ordinary, in order to improve the assets used in business activity at bare minimum extent. Employees As of the end of March 2010 Ekspress Group employed 1 796 people (As of 31 March 2009 (includes employees of discontinued operations): 2 270). The average number of employees in the 1st quarter of 2010 was 1 787 (Q I 2009 includes employees of discontinued operations: 2 282). In the 1st quarter of 2010, the personnel costs of Ekspress Grupp totalled EEK 57,7 million (EUR 3,7 million), (Q I 2009 with the personnel cost of discontinued operations EEK 75.8 million (EUR 4.8 million))*. *proportional part from joint ventures Consolidated statement of financial position (unaudited) -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EEK | -------------------------------------------------------------------------------- | 31.03.2010 | 31.12.2009 | 31.03.2009 | -------------------------------------------------------------------------------- | (thousand) | | -------------------------------------------------------------------------------- | ASSETS | | | | | -------------------------------------------------------------------------------- | Current assets | | | | -------------------------------------------------------------------------------- | Cash and cash equivalents | 23 589 | 39 953 | 29 216 | -------------------------------------------------------------------------------- | Other financial assets at fair | 29 056 | 892 | 4 472 | | value through profit or loss | | | | -------------------------------------------------------------------------------- | Trade and other receivables | 122 563 | 120 136 | 152 084 | -------------------------------------------------------------------------------- | Inventories | 42 724 | 55 160 | 62 836 | -------------------------------------------------------------------------------- | Total current assets | 217 932 | 216 141 | 248 608 | -------------------------------------------------------------------------------- | Assets of discontinued | 0 | 93 457 | 0 | | operations | | | | -------------------------------------------------------------------------------- | Non-current assets | | | | -------------------------------------------------------------------------------- | Trade and other receivables | 5 483 | 5 697 | 4 255 | -------------------------------------------------------------------------------- | Investments in associates | 371 | 640 | 354 | -------------------------------------------------------------------------------- | Investment property | 6 360 | 6 360 | 12 341 | -------------------------------------------------------------------------------- | Property, plant and equipment | 321 768 | 345 938 | 382 732 | | (Note 4) | | | | -------------------------------------------------------------------------------- | Intangible assets (Note 4) | 807 273 | 821 613 | 1 010 095 | -------------------------------------------------------------------------------- | Total non-current assets | 1 141 | 1 180 248 | 1 409 777 | | | 255 | | | -------------------------------------------------------------------------------- | TOTAL ASSETS | 1 359 | 1 489 846 | 1 658 385 | | | 187 | | | -------------------------------------------------------------------------------- | SHAREHOLDERS EQUITY AND | | | | | LIABILITIES | | | | -------------------------------------------------------------------------------- | Liabilities | | | | -------------------------------------------------------------------------------- | Current liabilities | | | | -------------------------------------------------------------------------------- | Borrowings (Note 5) | 109 795 | 143 093 | 167 440 | -------------------------------------------------------------------------------- | Trade and other payables | 225 910 | 283 668 | 239 465 | -------------------------------------------------------------------------------- | Total current liabilities | 335 705 | 426 761 | 406 905 | -------------------------------------------------------------------------------- | Liabilities of discontinued | 0 | 17 231 | 0 | | operations | | | | -------------------------------------------------------------------------------- | Non-current liabilities | | | | -------------------------------------------------------------------------------- | Borrowings (Note 5) | 574 131 | 583 047 | 620 236 | -------------------------------------------------------------------------------- | Other long term liabilities | 181 | 28 | 325 | -------------------------------------------------------------------------------- | Derivative instruments | 13 993 | 13 993 | 9 555 | -------------------------------------------------------------------------------- | Total non-current liabilities | 588 305 | 597 068 | 630 116 | -------------------------------------------------------------------------------- | Total liabilities | 924 010 | 1 041 060 | 1 037 021 | -------------------------------------------------------------------------------- | Equity | | | | -------------------------------------------------------------------------------- | Capital and reserves | | | | | attributable to equity holders | | | | | of the Parent company | | | | -------------------------------------------------------------------------------- | Share capital | 208 488 | 208 488 | 208 488 | -------------------------------------------------------------------------------- | Share premium | 192 883 | 192 883 | 192 883 | -------------------------------------------------------------------------------- | Reserves | (313) | (313) | 4 125 | -------------------------------------------------------------------------------- | Retained earnings | 33 958 | 45 805 | 214 304 | -------------------------------------------------------------------------------- | Currency translation reserve | (127) | 1 635 | 1 276 | -------------------------------------------------------------------------------- | Total capital and reserves | 434 889 | 448 498 | 621 076 | | attributable to equity holders | | | | | of the Parent company | | | | -------------------------------------------------------------------------------- | Minority interest | 288 | 288 | 288 | -------------------------------------------------------------------------------- | Total equity | 435 177 | 448 786 | 621 364 | -------------------------------------------------------------------------------- | TOTAL EQUITY AND LIABILITIES | 1 359 | 1 489 846 | 1 658 385 | | | 187 | | | -------------------------------------------------------------------------------- Consolidated statement of financial position (unaudited) -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EUR | -------------------------------------------------------------------------------- | 31.03.2010 | 31.12.2009 | 31.03.2009 | -------------------------------------------------------------------------------- | (thousand) | | -------------------------------------------------------------------------------- | ASSETS | | | -------------------------------------------------------------------------------- | Current assets | | | | -------------------------------------------------------------------------------- | Cash and cash equivalents | 1 508 | 2 553 | 1 867 | -------------------------------------------------------------------------------- | Other financial assets at fair | 1 857 | 57 | 286 | | value through profit or loss | | | | -------------------------------------------------------------------------------- | Trade and other receivables | 7 834 | 7 677 | 9 719 | -------------------------------------------------------------------------------- | Inventories | 2 731 | 3 525 | 4 016 | -------------------------------------------------------------------------------- | Total current assets | 13 930 | 13 812 | 15 888 | -------------------------------------------------------------------------------- | Assets of discontinued operations | 0 | 5 973 | 0 | -------------------------------------------------------------------------------- | Non-current assets | | | | -------------------------------------------------------------------------------- | Trade and other receivables | 348 | 364 | 273 | -------------------------------------------------------------------------------- | Investments in associates | 24 | 41 | 23 | -------------------------------------------------------------------------------- | Investment property | 406 | 406 | 789 | -------------------------------------------------------------------------------- | Property, plant and equipment | 20 565 | 22 109 | 24 461 | | (Note 4) | | | | -------------------------------------------------------------------------------- | Intangible assets (Note 4) | 51 594 | 52 511 | 64 557 | -------------------------------------------------------------------------------- | Total non-current assets | 72 937 | 75 431 | 90 103 | -------------------------------------------------------------------------------- | TOTAL ASSETS | 86 867 | 95 216 | 105 991 | -------------------------------------------------------------------------------- | SHAREHOLDERS EQUITY AND | | | | | LIABILITIES | | | | -------------------------------------------------------------------------------- | Liabilities | | | | -------------------------------------------------------------------------------- | Current liabilities | | | | -------------------------------------------------------------------------------- | Borrowings (Note 5) | 7 017 | 9 145 | 10 701 | -------------------------------------------------------------------------------- | Trade and other payables | 14 438 | 18 130 | 15 305 | -------------------------------------------------------------------------------- | Total current liabilities | 21 455 | 27 275 | 26 006 | -------------------------------------------------------------------------------- | Liabilities of discontinued | 0 | 1 101 | 0 | | operations | | | | -------------------------------------------------------------------------------- | Non-current liabilities | | | | -------------------------------------------------------------------------------- | Borrowings (Note 5) | 36 694 | 37 263 | 39 640 | -------------------------------------------------------------------------------- | Other long term liabilities | 12 | 2 | 21 | -------------------------------------------------------------------------------- | Derivative instruments | 894 | 894 | 611 | -------------------------------------------------------------------------------- | Total non-current liabilities | 37 600 | 38 159 | 40 272 | -------------------------------------------------------------------------------- | Total liabilities | 59 055 | 66 535 | 66 278 | -------------------------------------------------------------------------------- | Equity | | | | -------------------------------------------------------------------------------- | Capital and reserves attributable | | | | | to equity holders of the Parent | | | | | company | | | | -------------------------------------------------------------------------------- | Share capital | 13 325 | 13 325 | 13 325 | -------------------------------------------------------------------------------- | Share premium | 12 327 | 12 327 | 12 327 | -------------------------------------------------------------------------------- | Reserves | (20) | -20 | 264 | -------------------------------------------------------------------------------- | Retained earnings | 2 170 | 2 927 | 13 697 | -------------------------------------------------------------------------------- | Currency translation reserve | -8 | 104 | 82 | -------------------------------------------------------------------------------- | Total capital and reserves | 27 794 | 28 663 | 39 695 | | attributable to equity holders of | | | | | the Parent company | | | | -------------------------------------------------------------------------------- | Minority interest | 18 | 18 | 18 | -------------------------------------------------------------------------------- | Total equity | 27 812 | 28 681 | 39 713 | -------------------------------------------------------------------------------- | TOTAL EQUITY AND LIABILITIES | 86 867 | 95 216 | 105 991 | -------------------------------------------------------------------------------- Consolidated interim statement of comprehensive income (unaudited) -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EEK | -------------------------------------------------------------------------------- | Q I 2010 | Q I 2009 | -------------------------------------------------------------------------------- | (thousand) | | -------------------------------------------------------------------------------- | Sales | 183 069 | 207 130 | -------------------------------------------------------------------------------- | Costs of sales | 150 157 | 172 672 | -------------------------------------------------------------------------------- | Gross profit | 32 912 | 34 458 | -------------------------------------------------------------------------------- | Marketing expenses | 8 429 | 10 920 | -------------------------------------------------------------------------------- | Administrative expenses | 26 586 | 30 231 | -------------------------------------------------------------------------------- | Other income | 7 237 | 944 | -------------------------------------------------------------------------------- | Other expenses | 314 | 1 031 | -------------------------------------------------------------------------------- | Operating profit (loss) | 4 820 | (6 780) | -------------------------------------------------------------------------------- | Interest income | 173 | 633 | -------------------------------------------------------------------------------- | Interest expenses | (9 646) | (10 835) | -------------------------------------------------------------------------------- | Currency exchange profit (loss) | 453 | 144 | -------------------------------------------------------------------------------- | Other financial income | 0 | 119 | -------------------------------------------------------------------------------- | Other financial expenses | (362) | (276) | -------------------------------------------------------------------------------- | Financial income (expense) total | (9 382) | (10 215) | -------------------------------------------------------------------------------- | Share of profit (loss )of associates | (826) | 133 | -------------------------------------------------------------------------------- | Profit (loss) before income tax | (5 388) | (16 862) | -------------------------------------------------------------------------------- | Income tax expense | 5 796 | 386 | -------------------------------------------------------------------------------- | Profit (loss) for the year from continued | (11 184) | (17 248) | | operations | | | -------------------------------------------------------------------------------- | Profit (loss) for the year from | (663) | (345) | | discontinued operations | | | -------------------------------------------------------------------------------- | Profit (loss) for the year | (11 847) | (17 593) | -------------------------------------------------------------------------------- | Attributable to: | | | -------------------------------------------------------------------------------- | Equity holders of the Parent company | (11 847) | (17 593) | -------------------------------------------------------------------------------- | Other comprehensive income | | | -------------------------------------------------------------------------------- | Currency translation differences | (1 762) | (77) | -------------------------------------------------------------------------------- | Total comprehensive income (expense) | (13 609) | (17 670) | -------------------------------------------------------------------------------- | Comprehensive income attributable to: | | | -------------------------------------------------------------------------------- | Equity holders of the Parent company | (13 609) | (17 670) | -------------------------------------------------------------------------------- | Basic and diluted earnings per share for | (0,57) | (0,85) | | profit attributable to the equity holders | | | | of the Company (Note 8) | | | -------------------------------------------------------------------------------- Consolidated interim statement of comprehensive income (unaudited) -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EUR | -------------------------------------------------------------------------------- | Q I 2010 | Q I 2009 | -------------------------------------------------------------------------------- | (thousand) | | -------------------------------------------------------------------------------- | Sales | 11 700 | 13 238 | -------------------------------------------------------------------------------- | Costs of sales | 9 597 | 11 036 | -------------------------------------------------------------------------------- | Gross profit | 2 103 | 2 202 | -------------------------------------------------------------------------------- | Marketing expenses | 539 | 698 | -------------------------------------------------------------------------------- | Administrative expenses | 1 699 | 1 932 | -------------------------------------------------------------------------------- | Other income | 464 | 60 | -------------------------------------------------------------------------------- | Other expenses | 20 | 66 | -------------------------------------------------------------------------------- | Operating profit (loss) | 309 | (434) | -------------------------------------------------------------------------------- | Interest income | 11 | 40 | -------------------------------------------------------------------------------- | Interest expenses | (616) | (692) | -------------------------------------------------------------------------------- | Currency exchange profit (loss) | 29 | 9 | -------------------------------------------------------------------------------- | Other financial income | 0 | 8 | -------------------------------------------------------------------------------- | Other financial expenses | (23) | (18) | -------------------------------------------------------------------------------- | Financial income (expense) total | (599) | (653) | -------------------------------------------------------------------------------- | Share of profit (loss )of associates | (53) | 9 | -------------------------------------------------------------------------------- | Profit (loss) before income tax | (343) | (1 078) | -------------------------------------------------------------------------------- | Income tax expense | 370 | 25 | -------------------------------------------------------------------------------- | Profit (loss) for the year from continued | (713) | (1 103) | | operations | | | -------------------------------------------------------------------------------- | Profit (loss) for the year from | (42) | (22) | | discontinued operations | | | -------------------------------------------------------------------------------- | Profit (loss) for the year | (755) | (1 125) | -------------------------------------------------------------------------------- | Attributable to: | | | -------------------------------------------------------------------------------- | Equity holders of the Parent company | (755) | (1 125) | -------------------------------------------------------------------------------- | Other comprehensive income | | | -------------------------------------------------------------------------------- | Currency translation differences | (113) | (5) | -------------------------------------------------------------------------------- | Total comprehensive income (expense) | (826) | (1 108) | -------------------------------------------------------------------------------- | Comprehensive income attributable to: | | | -------------------------------------------------------------------------------- | Equity holders of the Parent company | (868) | (1 130) | -------------------------------------------------------------------------------- | Basic and diluted earnings per share for | (0,04) | (0,05) | | profit attributable to the equity holders | | | | of the Company (Note 8) | | | -------------------------------------------------------------------------------- Consolidated interim cash flow statement (unaudited) -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EEK | -------------------------------------------------------------------------------- | I Q 2010 | I Q 2009 | -------------------------------------------------------------------------------- | (thousand) | | -------------------------------------------------------------------------------- | Cash flows from operating activities | | | -------------------------------------------------------------------------------- | Operating profit(loss) for the period | 4 820 | (6 780) | -------------------------------------------------------------------------------- | Adjustments for: | | | -------------------------------------------------------------------------------- | Depreciation, amortisation and | 13 040 | 13 542 | | impairment of property, plant and | | | | equipment and intangibles | | | -------------------------------------------------------------------------------- | Profit (loss) on sale of property, | 18 | (184) | | plant and equipment | | | -------------------------------------------------------------------------------- | Changes in working capital: | | | -------------------------------------------------------------------------------- | Trade and other receivables | 655 | 13 264 | -------------------------------------------------------------------------------- | Inventories | (1 614) | (42) | -------------------------------------------------------------------------------- | Trade and other payables | (56 877) | (3 671) | -------------------------------------------------------------------------------- | Cash generated from operations | (39 958) | 16 129 | -------------------------------------------------------------------------------- | Income tax paid | (5 796) | (386) | -------------------------------------------------------------------------------- | Interest paid | (9 646) | (10 835) | -------------------------------------------------------------------------------- | Net cash generated from operating | (55 400) | 4 908 | | activities | | | -------------------------------------------------------------------------------- | Net cash generated from operating | (16 718) | (9 272) | | activities from discontinued operations | | | -------------------------------------------------------------------------------- | Cash flows from investing activities | | | -------------------------------------------------------------------------------- | Proceeds from financial assets | 62 266 | 0 | -------------------------------------------------------------------------------- | Interest received | 173 | 633 | -------------------------------------------------------------------------------- | Purchase of property, plant and | (2 370) | (3 705) | | equipment | | | -------------------------------------------------------------------------------- | Proceeds from sale of property, plant | 2 739 | 337 | | and equipment | | | -------------------------------------------------------------------------------- | Loans granted | (2) | (2 697) | -------------------------------------------------------------------------------- | Loan repayments received | 25 | 3 539 | -------------------------------------------------------------------------------- | Net cash used in investing activities | 62 831 | (1 893) | -------------------------------------------------------------------------------- | Net cash used in/generated from | 32 851 | (1 032) | | investing activities from discontinued | | | | operations | | | -------------------------------------------------------------------------------- | Cash flows from financing activities | | | -------------------------------------------------------------------------------- | Share issue | 0 | 28 166 | -------------------------------------------------------------------------------- | Finance lease payments made | (5 963) | (8 744) | -------------------------------------------------------------------------------- | Change in overdraft used | 152 | 8 134 | -------------------------------------------------------------------------------- | Proceeds from borrowings | 1 900 | 0 | -------------------------------------------------------------------------------- | Repayments of borrowings | (35 941) | (37 126) | -------------------------------------------------------------------------------- | Net cash generated from financing | (39 852) | (9 570) | | activities | | | -------------------------------------------------------------------------------- | Net cash used in/generated from | (76) | (313) | | financing activities from discontinued | | | | operations | | | -------------------------------------------------------------------------------- | NET (DECREASE)/INCREASE IN CASH AND | (16 364) | (17 172) | | CASH EQUIVALENTS | | | -------------------------------------------------------------------------------- | Cash and cash equivalents at the | 39 953 | 46 388 | | beginning of the period | | | -------------------------------------------------------------------------------- | Cash and cash equivalents at the end of | 23 589 | 29 216 | | the period | | | -------------------------------------------------------------------------------- Consolidated interim cash flow statement (unaudited) -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | EUR | -------------------------------------------------------------------------------- | I Q 2010 | I Q 2009 | -------------------------------------------------------------------------------- | (thousand) | | -------------------------------------------------------------------------------- | Cash flows from operating activities | | | -------------------------------------------------------------------------------- | Operating profit(loss) for the period | 309 | (434) | -------------------------------------------------------------------------------- | Adjustments for: | | | -------------------------------------------------------------------------------- | Depreciation, amortisation and | 833 | 865 | | impairment of property, plant and | | | | equipment and intangibles | | | -------------------------------------------------------------------------------- | Profit (loss) on sale of property, | 1 | (12) | | plant and equipment | | | -------------------------------------------------------------------------------- | Changes in working capital: | 0 | 0 | -------------------------------------------------------------------------------- | Trade and other receivables | 41 | 849 | -------------------------------------------------------------------------------- | Inventories | (103) | (3) | -------------------------------------------------------------------------------- | Trade and other payables | (3 635) | (235) | -------------------------------------------------------------------------------- | Cash generated from operations | (2 554) | 1 031 | -------------------------------------------------------------------------------- | Income tax paid | (370) | (25) | -------------------------------------------------------------------------------- | Interest paid | (616) | (692) | -------------------------------------------------------------------------------- | Net cash generated from operating | (3 541) | 314 | | activities | | | -------------------------------------------------------------------------------- | Net cash generated from operating | (1 068) | (593) | | activities from discontinued operations | | | -------------------------------------------------------------------------------- | Cash flows from investing activities | | | -------------------------------------------------------------------------------- | Proceeds from financial assets | 3 980 | 0 | -------------------------------------------------------------------------------- | Interest received | 11 | 40 | -------------------------------------------------------------------------------- | Purchase of property, plant and | (151) | (237) | | equipment | | | -------------------------------------------------------------------------------- | Proceeds from sale of property, plant | 175 | 22 | | and equipment | | | -------------------------------------------------------------------------------- | Loans granted | (0) | (172) | -------------------------------------------------------------------------------- | Loan repayments received | 2 | 226 | -------------------------------------------------------------------------------- | Net cash used in investing activities | 4 016 | (121) | -------------------------------------------------------------------------------- | Net cash used in/generated from | 2 100 | (66) | | investing activities from discontinued | | | | operations | | | -------------------------------------------------------------------------------- | Cash flows from financing activities | | | -------------------------------------------------------------------------------- | Share issue | 0 | 1 800 | -------------------------------------------------------------------------------- | Finance lease payments made | (381) | (559) | -------------------------------------------------------------------------------- | Change in overdraft used | 10 | 520 | -------------------------------------------------------------------------------- | Proceeds from borrowings | 121 | 0 | -------------------------------------------------------------------------------- | Repayments of borrowings | (2 297) | (2 373) | -------------------------------------------------------------------------------- | Net cash generated from financing | (2 547) | (612) | | activities | | | -------------------------------------------------------------------------------- | Net cash used in/generated from | (5) | (20) | | financing activities from discontinued | | | | operations | | | -------------------------------------------------------------------------------- | NET (DECREASE)/INCREASE IN CASH AND | (1 046) | (1 097) | | CASH EQUIVALENTS | | | -------------------------------------------------------------------------------- | Cash and cash equivalents at the | 2 553 | 2 965 | | beginning of the period | | | -------------------------------------------------------------------------------- | Cash and cash equivalents at the end of | 1 508 | 1 867 | | the period | | | -------------------------------------------------------------------------------- Additional information: Gunnar Kobin Chairman of the Management Board GSM: +372 5188111 E-mail: [email protected]