Market announcement
TKM Grupp AS
LEI code
529900785KF1K0EEW940
Size of the entity
Large group
Economic activities
Financial and Insurance Activities
Country of registered office
Estonia
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
3355
Attachments
Submission date and time
26.05.2011 16:30:00
Content of announcement in Estonian
Title
2011. aasta I kvartali auditeerimata majandustulemused
Message
Tallinna Kaubamaja kontserni 2011. aasta esimese kvartali konsolideeritud
auditeerimata müügitulu oli 96,1 miljonit eurot. Kontserni 2010. aasta
võrreldava perioodi müügitulu oli 93,9 miljonit eurot, mis tegi võrdluses
eelmise aastaga kasvuks 2,4%. Aruandeperioodi kasumiks kujunes 1,6 miljonit
eurot. 2010. aasta esimese kvartali kahjum oli 0,4 miljonit eurot.
Esimene kvartal oli kontsernile stabiilne. Müügitulu kasvas kõigis kontserni
jaekaubandussegmentides. Aasta alguses eurokartusest tingutud tarbimislangus
jäi oodatust väiksemaks, kuid tooraine hindade kasvust tingitud hinnakasv on
survestanud kaupade sisseostuhindu. Üheks kontserni fookuseks on olnud kaupade
sortimendi parandamine, et pakkuda klientidele konkurentsivõimeliste hindadega
toidu- ja tarbekaupu ning teha häid pakkumisi kõigis kaubagruppides. Suuremat
tähelepanu on pööratud nii SHU kui Selveri klientide poolt hästi vastu võetud
omatoodete arendamisele, mis on võimaldanud klientideni tuua parema hinna ja
kvaliteedi suhtega tooteid. Omatoodete osakaal oli esimeses kvartalis vastavalt
jalatsiketis 6% ning Selverites 4% müügitulust. Kontserni tegevuskulud on
jätkuvalt tähelepanu all. 2010. aasta teises pooles realiseeritud
tööprotsesside ümberkorraldus on võimaldanud esimese kvartalis võrreldes aasta
varasemaga tööjõukulusid kokku hoida 5,8%.
Kaubamajade ärisegmendi 2011. aasta esimese 3 kuu müügitulu oli 16,9 miljonit
eurot, kasvades eelmise aasta sama perioodiga võrreldes 2,0%. Müügitulule
avaldas positiivset mõju veebruaris toimunud 2=3 kampaania. Kaubamajade kahjum
2011. aasta esimeses kvartalis oli 0,7 miljonit eurot, olles aasta tagusest
tulemusest parem 0,05 miljonit eurot. Võrreldes möödunud aasta sama perioodiga
oli Kaubamaja 2011. aasta 1. jaanuaril suletud seoses uue
majandusarvestussüsteemi juurutamisega ja hooaja allahindluskampaania algas
jaanuaris nädal hiljem. Kaubamajade segmendi ärikahjum vähenes 0,07 miljonit
eurot võrreldes eelmise aasta sama perioodiga. Kaubamajade segmendi koosseisus
kajastatud I.L.U. kosmeetikakauplusi opereeriva OÜ TKM Beauty Eesti müügitulu
eraldi välja tooduna oli 2011. aasta I kvartalis 0,6 miljonit eurot, kasvades
möödunud aasta sama perioodiga võrreldes 27,2%. Võrreldes möödunud aasta
esimese kvartaliga on I.L.U. ketil alates 2010. aasta septembrist avatud ka
neljas kauplus Tallinnas Kristiine Keskuses. I.L.U. keti puhaskahjum esimeses
kvartalis oli 0,2 miljonit eurot, mis on uue kaupluse käivitamiskuludega seoses
0,05 miljonit eurot suurem kui möödunud aasta samal perioodil.
Supermarketite ärisegmendi 2011. aasta I kvartali konsolideeritud müügitulu oli
72,2 miljonit eurot, kasvades aasta varasema perioodiga võrrelduna 1,3%. Eestis
asuvatest Selveritest sooritati 2011. aasta I kvartalis 7,7 miljonit ostu,
ületades aasta varasemal perioodil sooritatud ostude arvu 0,4% võrra. Selveri I
kvartali müügitulu kasvu taga on edukad müügikampaaniad ning järjepidev töö
kaupade sortimendiga. Samuti jäi tagasihoidlikuks eurole ülemineku järgselt
oodatud tagasilöök tarbimises. Suurt mõju müügitulemustele on avaldanud oluline
toidukaupade hinnatõus vabariigis, mille tulemusena on alanenud toidukaupade
koguseline müük. Võrrelduna eelmise aastaga on müügitulu kasvule avaldanud
negatiivset mõju jätkuvalt tihenenud konkurents jaekaubandusturul ning Tallinna
müügimaks. Läti kaupluste sulgemisest tulenevalt Selveril Lätis kaupade
müügitulu ei olnud. Müügitulu Lätis 2010. aastal oli 10 tuhat eurot.
Supermarketite segmendi konsolideeritud puhaskasum olid 2011. aasta I kvartalis
1,0 miljonit eurot, näidates võrrelduna 2010. aasta sama perioodiga 1,7 miljoni
euro suurust kasvu. Eestis teenitud puhaskasum oli 2011. aasta I kvartalis 1,6
miljonit eurot, kasvades 1,0 miljonit eurot aasta varasema 0,6 miljoni euro
kasumi tasemelt. I kvartali puhaskahjum Lätis oli 0,6 miljonit eurot, kahanedes
baasperioodiga võrrelduna 0,7 miljoni võrra. Majandustegevus Lätis on
külmutatud. Eesti kasumi kasv on tingitud multifunktsionaalse töökorralduse
juurutamisest 2010. aasta I pooles ja amortisatsioonikulu alanemisest.
Kinnisvarade ärisegmendi 2011. aasta esimese kvartali kontserniväline müügitulu
oli 0,7 miljonit eurot, kasvades eelmise aasta sama perioodiga 0,7%. Segmendi
aruandeperioodi kasumiks kujunes 1,6 miljonit eurot, olles aasta tagusest
tulemusest parem 2,9%.
Autokaubandussegmendi 2011. aasta I kvartali müügitulu ilma segmentide
vaheliste tehinguteta oli 3,8 miljonit eurot, ületades 31,4% eelmise aasta sama
perioodi tulusid. Autogrupi puhaskasum I kvartalis oli 0,2 miljonit eurot.
Aasta tagasi, 2010. aasta esimese kolme kuuga teenis autogrupp 0,02 miljonit
eurot kahjumit.
Jalatsikaubanduse 2011. aasta I kvartali müügitulu kokku oli 2,6 miljonit
eurot, kasvades võrreldes 2010. aasta sama perioodiga 3,0 %. I kvartali
kahjumiks kujunes 0,6 miljonit eurot. 2010 aasta I kvartalis oli
jalatsikaubanduse kahjum kokku samuti 0,6 miljonit eurot. Kahjumi peamisteks
põhjusteks olid talvekaupade sesoone allahindlus ning Suurtüki ja Stepperi
kaupluste sulgemise käigus toimunud lõpumüügid.
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
tuhandetes eurodes
31.03.2011 31.12.2010
----------------------------------------------------------
VARAD
----------------------------------------------------------
Käibevara
Raha ja pangakontod 18 061 15 734
Nõuded ostjate vastu 4 842 6 082
Muud lühiajalised nõuded 3 675 5 549
Maksude ettemaksed ja tagasinõuded 105 349
Muud ettemaksed 1 168 748
Varud 41 005 39 385
----------------------------------------------------------
Käibevara kokku 68 856 67 847
----------------------------------------------------------
Põhivara
----------------------------------------------------------
Ettemaksed 1 346 1 272
Investeeringud sidusettevõtetesse 1 559 1 504
Muud pikaajalised nõuded 68 141
Kinnisvarainvesteeringud 3 566 3 566
Materiaalne põhivara 174 177 175 638
Immateriaalne põhivara 3 425 3 533
Firmaväärtus 6 710 6 710
----------------------------------------------------------
Põhivara kokku 190 851 192 364
----------------------------------------------------------
VARAD KOKKU 259 707 260 211
----------------------------------------------------------
----------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
----------------------------------------------------------
Lühiajalised kohustused
----------------------------------------------------------
Võlakohustused 13 108 17 635
Saadud ettemaksed 612 573
Võlad tarnijatele 43 635 40 377
Maksukohustused 3 599 4 677
Muud lühiajalised kohustused 4 194 4 079
Lühiajalised eraldised 115 127
----------------------------------------------------------
Lühiajalised kohustused kokku 65 263 67 468
----------------------------------------------------------
Pikaajalised kohustused
----------------------------------------------------------
Võlakohustused 63 889 63 844
Pikaajalised eraldised 82 88
----------------------------------------------------------
Pikaajalised kohustused kokku 63 971 63 932
----------------------------------------------------------
KOHUSTUSED KOKKU 129 234 131 400
----------------------------------------------------------
Omakapital
----------------------------------------------------------
Aktsiakapital 26 031 26 031
Kohustuslik reservkapital 2 603 2 603
Ümberhindluse reserv 53 030 53 308
Jaotamata kasum 49 364 47 495
Konverteerimiserinevused -555 -626
----------------------------------------------------------
OMAKAPITAL KOKKU 130 473 128 811
----------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 259 707 260 211
----------------------------------------------------------
KONSOLIDEERITUD KOONDKASUMIARUANNE
Tuhandestes eurodes
3 kuud 2011 3 kuud 2010
------------------------------------------------------------------
------------------------------------------------------------------
Müügitulu 96 140 93 888
Muud äritulud 83 155
Kasutatud materjal ja tarvikud -72 505 -71 290
Mitmesugused tegevuskulud -11 197 -11 230
Tööjõukulud -8 120 -8 621
Põhivara kulum -2 432 -2 705
Muud ärikulud -103 -222
------------------------------------------------------------------
Ärikasum/(-kahjum) 1 866 -25
------------------------------------------------------------------
Finantstulud 76 83
------------------------------------------------------------------
Finantskulud -406 -476
Finantstulud sidusettevõtja aktsiatelt 55 42
------------------------------------------------------------------
Kasum/(kahjum) enne tulumaksustamist 1 591 -376
------------------------------------------------------------------
Aruandeperioodi puhaskasum/(-kahjum) 1 591 -376
------------------------------------------------------------------
Muu koondkasum/(-kahjum)
------------------------------------------------------------------
Realiseerimata kursivahed 71 -17
Aruandeperioodi muu koondkasum/(-kahjum) 71 -17
------------------------------------------------------------------
ARUANDEPERIOODI KOONDKASUM/(-KAHJUM) 1 662 -393
------------------------------------------------------------------
Raul Puusepp
Juhatuse esimees
Tel 731 5000
Content of announcement in English
Title
Unaudited consolidated interim accounts for the first quarter of 2011
Message
The consolidated unaudited sales revenue of the Tallinna Kaubamaja Group,
generated in the first quarter of 2011, was 96.1 million euros. The sales
revenue of the Group was 93.9 million euros in the reference period of 2010,
2011 up by 2.4% year-on-year. The profit earned in the reporting period was 1.6
million euros. The loss sustained in the first quarter of 2010 was 0.4 million
euros.
The first quarter was stable for the Group. The sales revenue grew in all the
Group's retail trade segments. Decrease in the volume of consumption due to
fears for euro was smaller than was presumed in the beginning of the year,
whereas a growth in prices due to the growth in raw material prices has put
pressure on the purchase prices of goods. One of the Group's focuses has been
on efforts made to improve the assortment of goods so as to offer customers
food and consumer goods at competitive prices and to make favourable offers in
all groups of goods. More attention has been paid to developing the Group's own
products that both SHU and Selver customers have accepted well, making it
possible to offer products with a better price and quality ratio to customers.
In the first quarter, the Group's own products accounted for 6% and 4% of the
sales revenue in the footwear chain and in the Selver stores respectively.
Continued attention is paid to the Group's operating expenses. The
reorganisation of work processes completed in the second half of 2010 has
enabled saving 5.8% in labour expenses in the first quarter year-on-year.
The sales revenue of the department store business segment was 16.9 million
euros in the first three months, an increase of 2.0% year-on-year. The 2=3
campaign held in February had a positive effect on the sales revenue. The loss
sustained by the department stores in the first quarter of 2011 was 0.7 million
euros, an improvement of 0.05 million euros compared to the figures of the
previous year. Kaubamaja was closed on 1 January 2011 due to the introduction
of a new management accounting system; therefore, the seasonal discount
campaign in January commenced a week later. Department store segment resulted
in a smaller operating loss, improved by 0.07 million euros year-on-year. In
the first quarter of 2011, the sales revenue of OÜ TKM Beauty Eesti, which
operates the I.L.U. cosmetics stores and is disclosed under Kaubamaja segment,
was 0.6 million euros, increasing 27.2% year-on-year. The net loss of the
I.L.U. chain in the first quarter was 0.2 million euros, 0.05 million euros
higher due to the expenses incurred in connection with the launch of a new
store compared to the same period a year ago.
The consolidated sales revenue of the supermarket business segment generated in
the first quarter of 2011 was 72.2 million euros, growing 1.3% year-on-year. In
the first quarter of 2011, 7.7 million purchases were made in the Selver stores
in Estonia, exceeding the figure of purchases made a year ago by 0.4%. The
drivers behind the Selver stores' sales revenue earned in the first quarter are
successful sales campaigns and continued work with the assortment of goods. The
setback in consumption was more modest after the changeover to the euro than
expected. A significant growth in food prices in the country has had a great
impact on the sales results bringing along a decrease in the volume of food
sold. Compared to the previous year, the continued tightening of competition in
retailing and the sales tax imposed in Tallinn has negatively affected the
growth of the sales revenue. Selver did not generate any sales revenue from the
sale of goods in Latvia due to the closing of stores in Latvia. The sales
revenue earned in Latvia in 2010 was 10 thousand euros. The consolidated net
profit of the supermarket segment was 1.0 million euros in the first quarter of
2011, showing a growth of 1.7 million euros year-on-year. In the first quarter
of 2011, the net profit earned in Estonia was 1.6 million euros, growing by 1.0
million euros from the profit of 0.6 million euro in the previous year. The net
loss in Latvia was 0.6 million euros in the first quarter, decreasing by 0.7
million compared to the reference period. The economic activities in Latvia
have been frozen. The profit growth in Estonia is the result of the
introduction of multi-functional work organisation in the first half of 2010
and a decrease in depreciation cost.
The non-Group sales revenue of the real estate business segment was 0.7 million
euros in the first quarter of 2011, growing 0.7% year-on-year. The segment
earned a profit of 1.6 million euros in the reporting period, an improvement of
2.9% when compared to the figures of the period a year ago.
The sales revenue of the vehicle trade segment without the intra-segment
transactions was 3.8 million euros in the first quarter of 2011, exceeding the
revenue generated in the same period last year by 31.4%. The net profit of the
vehicle group was 0.2 million euros in the first quarter. A year ago, the car
group sustained a loss of 0.02 million euros in the first three months of 2010.
The sales revenue of the footwear business segment earned in the first quarter
of 2011 was 2.6 million euros, growing by 3.0% compared to the same period of
2010. The loss earned in the first quarter was 0.6 million euros. The total
loss in the footwear trade was 0.6 million euros in the first quarter of 2010.
The main reasons for the loss were the seasonal discounts of winter goods and
the final sales held in relation to the closing of the Suurtüki and Stepper
stores.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
In thousands of euros
31.03.2011 31.12.2010
--------------------------------------------------------
ASSETS
--------------------------------------------------------
Current assets
Cash and bank 18,061 15,734
Trade receivables 4,842 6,082
Other short-term receivables 3,675 5,549
Prepaid and refundable taxes 105 349
Other prepayments 1,168 748
Inventories 41,005 39,385
--------------------------------------------------------
Total current assets 68,856 67,847
--------------------------------------------------------
Fixed assets
--------------------------------------------------------
Prepaid expenses 1,346 1,272
Shares in affiliated companies 1,559 1,504
Other long-term receivables 68 141
Investment property 3,566 3,566
Tangible fixed assets 174,177 175,638
Intangible fixed assets 3,425 3,533
Goodwill 6,710 6,710
--------------------------------------------------------
Total fixed assets 190,851 192,364
--------------------------------------------------------
TOTAL ASSETS 259,707 260,211
--------------------------------------------------------
--------------------------------------------------------
LIABILITIES AND EQUITY
--------------------------------------------------------
Current liabilities
--------------------------------------------------------
Borrowings 13,108 17,635
Prepayments received 612 573
Trade payables 43,635 40,377
Tax liabilities 3,599 4,677
Other current liabilities 4,194 4,079
Provisions 115 127
--------------------------------------------------------
Total current liabilities 65,263 67,468
--------------------------------------------------------
Long-term liabilities
--------------------------------------------------------
Borrowings 63,889 63,844
Provisions 82 88
--------------------------------------------------------
Total long-term liabilities 63,971 63,932
--------------------------------------------------------
TOTAL LIABILITIES 129,234 131,400
--------------------------------------------------------
Equity
--------------------------------------------------------
Share capital 26,031 26,031
Statutory reserve capital 2,603 2,603
Revaluation reserve 53,030 53,308
Retained earnings 49,364 47,495
Currency translation differences -555 -626
--------------------------------------------------------
TOTAL EQUITY 130,473 128,811
--------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 259,707 260,211
--------------------------------------------------------
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
In thousands of euros
3 months 3 months
2011 2010
--------------------------------------------------------------------------------
Revenue 96,140 93,888
--------------------------------------------------------------------------------
Other operating income 83 155
Materials and consumables used -72,505 -71,290
Other operating expenses -11,197 -11,230
Staff costs -8,120 -8,621
Depreciation and amortisation -2,432 -2,705
Other expenses -103 -222
--------------------------------------------------------------------------------
Operating profit/(-loss) 1,866 -25
--------------------------------------------------------------------------------
Financial income 76 83
--------------------------------------------------------------------------------
Financial costs -406 -476
Financial income on shares of associates 55 42
--------------------------------------------------------------------------------
Profit/(loss) before income tax 1,591 -376
--------------------------------------------------------------------------------
Net profit (loss) for the reporting period 1,591 -376
--------------------------------------------------------------------------------
Other comprehensive income/(loss)
--------------------------------------------------------------------------------
Exchange differences 71 -17
Other comprehensive income for the reporting period 71 -17
--------------------------------------------------------------------------------
TOTAL COMPREHENSIVE INCOME/(LOSS) FOR THE REPORTING 1,662 -393
PERIOD
--------------------------------------------------------------------------------
Raul Puusepp
Chairman of the Board
Phone +372 731 5000