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
Half-yearly financial report
Unique data record identifier
3443
Attachments
Submission date and time
09.08.2011 16:30:00
Content of announcement in Estonian
Title
2011. aasta II kvartali ja 6 kuu auditeerimata majandustulemused
Message
Tallinna Kaubamaja kontserni 2011. aasta I poolaasta konsolideeritud
auditeerimata müügitulu oli 206,2 miljonit eurot, kasvades võrreldes 2010.
aasta I poolaasta tulemusega, mil müügitulu oli 197,2 miljonit eurot, 4,6%.
Teises kvartalis oli kontserni müügitulu 110,1 miljonit eurot, ületades sellega
aasta varasemat müügitulu 6,6%. Võrdlusbaasi mõjutas 2010. aasta juunis
Tallinnas kehtima hakanud müügimaks, mis kahandas kontserni 2011. aasta I
poolaasta müügitulu 1,0 miljoni euro võrra (2010. aasta I poolaastal 0,2
miljoni euro võrra). Alates 01.01.2011 on muudetud kontserni müügitulu
arvestuspõhimõtteid ja 2010. aasta võrdlusandmed on kohandatud uute
põhimõtetega. 2010. aasta I poolaastal on sellest tulenevalt kajastatud
müügituludes täiendavalt 4,8 miljonit eurot. Kontserni 2011. aasta 6 kuu
konsolideeritud auditeerimata puhaskasum oli 5,1 miljonit eurot, mis on 12,7%
enam kui eelmise aasta sama perioodi kasum 4,6 miljonit eurot. Kontserni teise
kvartali puhaskasum oli 3,6 miljonit eurot, mis moodustab 71,9% eelmise aasta
võrreldava perioodi kasumist, mil vastav näitaja oli 4,9 miljonit eurot.
Poolaasta ja eriti teise kvartali puhaskasumit on oluliselt mõjutanud juunis
tasutud dividendide tulumaks 3,0 miljonit eurot. Maksueelne kasum oli I
poolaastal 8,2 miljonit eurot, 2010. aastal 4,6 miljonit eurot. II kvartalis
kasvas maksueelne kasum võrreldes eelmise aasta sama perioodiga 33,2% võrra
ulatudes 6,6 miljoni euroni.
Esimene poolaasta oli kontsernile tulemuslik. Müügitulu ning majandustulemused
on järjepidevalt paranenud kõigis kontserni ärisegmentides. Klientide
tarbimisharjumused on viimastel aastatel pöördeliselt muutunud ning kliendid on
valivad ning hinnatundlikud, mistõttu on kaubavaliku parandamine kontserni
jaoks olulise tähtsusega. Suurt tähelepanu on kontsernis pööratud ka varude
paremale juhtimisele, mis väljendub kasvanud brutorentaabluses. Jätkuvalt on
tähelepanu all tegevuskulud. IT valdkonna tsentraliseeritud juhtimise alla
viimine ning turvategevuste koondamine ühtsesse keskusesse aitavad kontsernil
paremini juhtida vastavaid kulusid ning tugitegevusi. 2010. aasta teises pooles
realiseeritud tööprotsesside ümberkorraldus on võimaldanud esimesel poolaastas
võrreldes aasta varasemaga tööjõukulusid kokku hoida 2,9%.
Kaubamajade ärisegmendi 2011. aasta esimese poolaasta müügitulu oli 36,3
miljonit eurot, kasvades eelmise aasta sama perioodiga võrreldes 4,2%. Sellest
teises kvartalis oli müügitulu 19,5 miljonit eurot, mis oli 2010. aasta II
kvartali tuludest kõrgem 6,2%. Müügitulule avaldas positiivset mõju õnnestunud
hooajakaupade valik ja erinevad kampaaniad. Kaubamajade kahjum 2011. aasta
esimesel poolaastal oli 0,007 miljonit eurot, olles aasta tagusest tulemusest
parem 0,3 miljonit eurot. Sellest teises kvartalis oli kasum 0,6 miljonit
eurot, mis oli 2010. aasta kasumist kõrgem 70,3% ehk 0,3 miljonit eurot. Lisaks
õnnestunud sisseostule mõjutas kasumit positiivselt marginali parem juhtimine
kogu hooaja vältel, millele on kaasa aidanud ka selle aasta algusest juurutatud
uus majandusarvestussüsteem. Kaubamajade segmendi koosseisus kajastatud I.L.U.
kosmeetikakauplusi opereeriva OÜ TKM Beauty Eesti müügitulu eraldi välja
tooduna oli 2011. aasta esimesel poolaastal 1,2 miljonit eurot, kasvades
möödunud aasta sama perioodiga võrreldes 33,3%. Sellest II kvartalis oli
müügitulu 0,7 miljonit eurot, mis oli 2010. aasta vastavast perioodist kõrgem
39,8%. I.L.U. keti puhaskahjum esimesel poolaastal oli 0,4 miljonit eurot, mis
on uue kaupluse käivitamiskuludega seoses 0,1 miljonit eurot suurem kui
möödunud aasta samal perioodil. II kvartalis oli kahjum 0,2 miljonit eurot,
suurenedes samuti 0,1 miljoni euro võrra.
Supermarketite ärisegmendi 2011. aasta I poolaasta konsolideeritud müügitulu
oli 153,3 miljonit eurot, kasvades aasta varasema perioodiga võrrelduna 2,9%.
II kvartali konsolideeritud müügitulu oli 81,2 miljonit eurot, kasvades aasta
varasema perioodiga võrrelduna 4,4%. Võrdlusbaasi mõjutas 2010. aasta juunis
Tallinnas kehtima hakanud müügimaks, mis kahandas 2011. aasta I poolaasta
müügitulu 0,7 miljoni euro võrra, kuid 2010. aasta I poolaastal 0,1 miljoni
euro võrra. Läti kaupluste sulgemisest tulenevalt oli Selveri müügitulu Lätis I
poolaastal 0,8 tuhat eurot, kaupade müügitulu vaadeldaval perioodil Lätis ei
olnud. Supermarketite segmendi konsolideeritud maksueelne kasum oli I
poolaastal 4,6 miljonit eurot, ning II kvartalis 3,5 miljonit eurot. Poolaasta
kasum ületas eelmise aasta sama perioodi kasumit rohkem kui kaks korda ning II
kvartali kasum kasvas 26,3%. Konsolideeritud I poolaasta puhaskasum oli 1,5
miljonit eurot, kahanedes aasta varasema tulemusega 0,6 miljoni euro võrra. II
kvartali konsolideeritud puhaskasum oli 0,5 miljonit eurot. Eestis teenitud
maksueelne kasum oli 2011. aasta I poolaastal 5,7 miljonit eurot, kasvades
aasta varasema perioodiga võrrelduna 53,3%. II kvartalis teenis Selver
maksueelset kasumit 4,1 miljonit eurot. Poolaasta puhaskasum oli Eestis 2,7
miljonit eurot ning II kvartalis 1,1 miljonit eurot, jäädes 1,0 miljoni euroga
I poolaastal ning 2,0 miljoni euroga II kvartalis alla aasta varasemale
tulemusele. Maksueelse kasumi ja puhaskasumi erisus tuleneb 2011. aasta maikuus
makstud dividendidest, mille tulumaks 3,0 miljonit eurot on kajastatud II
kvartali tulemustes. 2010. aastal makstud dividendide tulumaks oli 0,5 miljonit
eurot, kuid see on kajastatud vastavalt toonasele dividendide väljamakse
tegemise ajale 2010. aasta II poolaastas. Eesti kasumi kasv on tingitud
eelkõige efektiivsema töökorralduse juurutamisest, mille tulemusena kahanesid
tööjõukulud I poolaastal kokku 9%. Viimaste aastate aktiivsete investeeringute
vähenemisega seoses on alanenud amortisatsioonikulud. Läti I poolaasta kahjum
oli 1,2 miljonit eurot ning II kvartalis 0,6 miljonit eurot. Möödunud aastaga
võrreldes vähenes poolaasta kahjum 0,4 miljoni euro võrra, kuid kasvas II
kvartalis 0,3 miljoni euro võrra. Majandustegevus Lätis on külmutatud.
Kinnisvarade ärisegmendi 2011. aasta esimese poolaasta kontserniväline
müügitulu oli 1,4 miljonit eurot, kasvades eelmise aasta sama perioodiga 5,2%.
Aruandeaasta teise kvartali müügitulu oli 0,7 miljonit eurot ületades sellega
2010. aasta II kvartali tulemust 10,4%-ga. Müügitulu suurenemine on toimunud
peamiselt üürimäärade kasvu tõttu. Segmendi esimese kuue kuu kasumiks kujunes
3,4 miljonit eurot ja II kvartali kasumiks 1,7 miljonit eurot. See oli nii
eelmise aasta esimese poolaasta kui II kvartali kasumist 0,1 miljoni euro võrra
parem tulemus ja oli tingitud peamiselt intressikulu vähenemisest.
Autokaubandussegmendi 2011. aasta I poolaasta müügitulu ilma segmentide
vaheliste tehinguteta oli 9,0 miljonit eurot, ületades 44,9% eelmise aasta sama
perioodi tulusid. Teise kvartali 5,1 miljoni euro suurune müügitulu ületas
aasta varasema müügitulu 56,9%-ga. Segment jõudis poolaastaga 0,6 miljoni euro
suurusesse kasumisse, 0,4 miljonit sellest teeniti teises kvartalis. 2010.
aasta vastavad kasuminäitajad olid 0,0 miljonit eurot ja 0,1 miljonit eurot.
Jalatsikaubanduse segmendi 2011. aasta I poolaasta käive oli 6,2 miljonit
eurot, kasvades aastaga 6,0%. II kvartalis oli käive 3,7 miljonit eurot,
suurenedes võrreldes 2010. aasta sama perioodiga 8,1%. Esimese poolaasta
kahjumiks kujunes 0,4 miljonit eurot, mis on võrreldes eelmise aruandeaasta
sama perioodiga vähenenud ligi 0,2 miljoni euro võrra. II kvartal oli
jalatsikaubandussegmendile kasumlik, segmendi kasumiks kujunes 0,3 miljonit
eurot, ületades sellega 2010. aasta II kvartali kasumit 0,2 miljoni euro võrra.
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
tuhandetes eurodes
30.06.2011 31.12.2010
----------------------------------------------------------
VARAD
----------------------------------------------------------
Käibevara
Raha ja pangakontod 6 288 15 734
Nõuded ostjate vastu 6 399 6 082
Muud lühiajalised nõuded 2 962 5 549
Maksude ettemaksed ja tagasinõuded 107 349
Muud ettemaksed 766 748
Varud 43 202 39 385
----------------------------------------------------------
Käibevara kokku 59 724 67 847
----------------------------------------------------------
Põhivara
----------------------------------------------------------
Ettemaksed 1 346 1 272
Investeeringud sidusettevõtetesse 1 550 1 504
Muud pikaajalised nõuded 68 141
Kinnisvarainvesteeringud 3 566 3 566
Materiaalne põhivara 173 882 175 638
Immateriaalne põhivara 3 316 3 533
Firmaväärtus 6 710 6 710
----------------------------------------------------------
Põhivara kokku 190 438 192 364
----------------------------------------------------------
VARAD KOKKU 250 162 260 211
----------------------------------------------------------
----------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
----------------------------------------------------------
Lühiajalised kohustused
----------------------------------------------------------
Võlakohustused 9 033 17 635
Saadud ettemaksed 56 573
Võlad tarnijatele 46 244 40 377
Maksuvõlad 3 972 4 677
Muud lühiajalised võlad 4 160 4 079
Lühiajalised eraldised 103 127
----------------------------------------------------------
Lühiajalised kohustused kokku 63 568 67 468
----------------------------------------------------------
Pikaajalised kohustused
----------------------------------------------------------
Võlakohustused 63 884 63 844
Pikaajalised eraldised 78 88
----------------------------------------------------------
Pikaajalised kohustused kokku 63 962 63 932
----------------------------------------------------------
KOHUSTUSED KOKKU 127 530 131 400
----------------------------------------------------------
Omakapital
----------------------------------------------------------
Aktsiakapital 24 438 26 031
Kohustuslik reservkapital 2 603 2 603
Ümberhindluse reserv 52 752 53 308
Jaotamata kasum 43 389 47 495
Konverteerimiserinevused -550 -626
----------------------------------------------------------
OMAKAPITAL KOKKU 122 632 128 811
----------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 250 162 260 211
----------------------------------------------------------
KONSOLIDEERITUD KOONDKASUMIARUANNE
Tuhandestes eurodes
6 kuud 6 kuud II kvartal II kvartal
2011 2010 2011 2010
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Müügitulu 206 224 197 184 110 084 103 296
Muud äritulud 120 364 37 209
Müüdud kaubad ja kasutatud -153 458 -147 376 -80 953 -76 086
materjal
Mitmesugused tegevuskulud -22 008 -21 611 -10 811 -10 381
Tööjõukulud -16 976 -17 490 -8 856 -8 869
Põhivara kulum -4 936 -5 394 -2 504 -2 689
Muud ärikulud -166 -363 -63 -141
--------------------------------------------------------------------------------
Ärikasum 8 800 5 314 6 934 5 339
--------------------------------------------------------------------------------
Finantstulud 131 150 55 67
--------------------------------------------------------------------------------
Finantskulud -852 -991 -446 -515
Kasum sidusettevõtja aktsiatelt 101 97 46 55
--------------------------------------------------------------------------------
Kasum enne tulumaksustamist 8 180 4 570 6 589 4 946
--------------------------------------------------------------------------------
Tulumaks -3 031 0 -3 031 0
--------------------------------------------------------------------------------
Aruandeperioodi puhaskasum 5 149 4 570 3 558 4 946
--------------------------------------------------------------------------------
Muu koondkasum/(-kahjum)
--------------------------------------------------------------------------------
Realiseerimata kursivahed 76 -36 5 -19
Aruandeperioodi muu 76 -36 5 -19
koondkasum/(-kahjum)
--------------------------------------------------------------------------------
ARUANDEPERIOODI KOONDKASUM 5 225 4 534 3 563 4 927
--------------------------------------------------------------------------------
Raul Puusepp
Juhatuse esimees
Tel 731 5000
Content of announcement in English
Title
Unaudited consolidated interim accounts for the second quarter and first six months of 2011
Message
The consolidated non-audited sales revenue of the Tallinna Kaubamaja Group for
the 1st half-year of 2011 was 206.2 million euros, having grown by 4.6%
compared to the results of the 1st half-year of 2010, when the sales revenue
was 197.2 million euros. In the 2nd quarter, the Group's sales revenue was
110.1 million euros, thus exceeding the sales revenues of the same period last
year by 6.6%. The reference base was influenced by the sales tax, levied in
Tallinn since June 2010, which decreased the Group's sales revenue for the 1st
half-year of 2011 by 1.0 million euros (by 0.2 million euros during the 1st
half-year of 2010). As of 01.01.2011, the principles for calculating the sales
revenue of the Group changed and the reference data of 2010 have been adapted
to the new principles. As a result, an additional 4.8 million euros have been
recorded in the sales revenue of the 1st half-year. The consolidated unaudited
net profit of the Group, generated in the first six months of 2011, was 5.1
million euros - 12.7% higher than the revenue of the same period of the
previous year, which was 4.6 million euros. The Group's net profit, generated
in the second quarter, was 3.6 million euros, which makes up 71.9% of the
comparable period of the previous year, when the relevant indicator was 4.9
million euros. The net profit of the half-year and especially the second
quarter was greatly influenced by the June payment of the income tax on
dividends that amounted to 3.0 million euros. The pre-tax profit in the 1st
half-year was 8.2 million euros, while it was 4.6 million euros in 2010. In the
2nd quarter, the pre-tax profit grew by 33.2% compared to the same period of
the previous year, amounting to 6.6 million euros.
The first half-year was profitable for the Group. Sales revenue and economic
results have showed a constant improvement in all of the Group's business
segments. The customers' consumption habits have changed drastically over the
past years - they are selective and price-sensitive, which is why improving the
selection of goods is of vital importance for the Group. Great importance has
also been paid within the Group to the better management of inventory, which is
made apparent by the increase in the gross profit margin. Operating costs is
still under focus. Centralized of Group IT management and joining security
activities into one single centre help the Group to better manage the related
costs and support activities. The restructuring of work processes that was
carried out in the second half of 2010 has enabled to save 2.9% on labour
costs, compared to a year before.
The sales revenue of the department store business segment in the first
half-year was 36.3 million euros, an increase of 4.2% compared to the same
period of the previous year. Of that, the sales revenue of the second quarter
was 19.5 million euros, which was by 6.2% higher than the income of the 2nd
quarter of 2010. The sales revenue was positively influenced by a successful
selection of seasonal goods and various campaigns. The loss sustained by
department stores in the first half-year of 2011 was 0.007 million euros,
having improved by 0.3 million euros compared to the result of a year before.
Of that, the profit in the second quarter was 0.6 million euros, higher than
the profit of 2010 by 70.3% or 0.3 million euros. In addition to successful
wholesale purchases, the profit was positively influenced by a better
management of the margin during the whole season - this was also helped along
by the new ERP system introduced at the beginning of the year. In the first
half-year of 2011, the separately highlighted sales revenue of OÜ TKM Beauty
Eesti, which operates the I.L.U. cosmetic stores and is recorded in the
composition of the department store segment, was 1.2 million euros - an
increase of 33.3% compared to the same period of the previous year. Of that,
the sales revenue earned in the 2nd quarter was 0.7 million euros, which was by
39.8% higher that the corresponding period of 2010. The net loss of the I.L.U.
chain in the first half-year was 0.4 million euros; compared to the same period
a year ago, 0.1 million euros higher due to the expenses incurred in connection
with the launch of a new store. In the 2nd quarter, the loss was 0.2 million
euros, also having increased by 0.1 million euros.
The consolidated sales revenue of the business segment of supermarkets in the
1st half-year of 2011 was 153.3 million euros, having grown by 2.9% compared to
the same period of the previous year. The consolidated sales revenue of the 2nd
quarter was 81.2 million euros, having grown by 4.4% compared to the same
period of the previous year. The reference base was influenced by the sales
tax, levied in Tallinn since June 2010, which decreased the Group's sales
revenue for the 1st half-year of 2011 by 0.7 million euros and by 0.1 million
euros during the 1st half-year of 2010. Selver did not generate any sales
revenue from the sale of goods in Latvia due to the closing of stores in
Latvia, sales revenue from other activities was 0.8 thousand euros. The
consolidated pre-tax net profit of the supermarket business segment generated
in the 1st half-year was 4.6 million euros and 3.5 million euros in the 2nd
quarter. The profit of the half-year exceeded the profit of the same period of
the previous year by more than two times, and the profit of the 2nd quarter
grew by 26.3%. The consolidated profit of the 1st half-year was 1.5 million
euros, having decreased by 0.6 million euros compared to the result of a year
before. The consolidated net profit of the 2nd quarter was 0.5 million euros.
The pre-tax profit earned in Estonia in the 1st half-year of 2011 was 5.7
million euros, an increase of 53.3% compared to the period of a year before. In
the 2nd quarter, the pre-tax profit earned by Selver was 4.1 million euros. The
half-year's net profit in Estonia was 2.7 million euros and 1.1 million euros
in the 2nd quarter, which is lower than the result of the previous year by 1.0
million euros for the 1st half-year and by 2.0 million euros for the 2nd
quarter. The difference in the pre-tax profit and net profit arises from the
dividends paid out in May 2011, whose income tax of 3.0 million euros has been
recorded in the results for the 2nd quarter. The income tax on the dividends
paid out in 2010 was 0.5 million euros, but this has been recorded in the 2nd
half-year of 2010 according to the time when the dividends were paid out. The
loss sustained in Latvia in the 1st half-year was 1.2 million euros and 0.6
million euros in the 2nd quarter. Compared to last year, the half-year's loss
decreased by 0.4 million euros, but grew by 0.3 million euros in the 2nd
quarter. Economic activities in Latvia have been frozen. The profit growth in
Estonia has mainly been a result of introducing a more effective organisation
of work - thanks to that, labour costs in the 1st half-year decreased by a
total of 9%. In relation to a slowing down of investment activities,
depreciation costs have also decreased.
The external sales revenue of the real estate business segment for the 1st
half-year of 2011 was 1.4 million euros, having increased by 5.2% compared to
the same period of the previous year. The sales revenue of the second quarter
of the accounting year was 0.7 million euros, which is 10.4% more than the
result of the 2nd quarter of 2010. Increase in revenues is mainly due to
increased rental rates. The segment's profit for the first six months was 3.4
million euros, while the profit of the 2nd quarter was 1.7 million euros. This
result was 0.1 million euros better than both the first half-year and the 2nd
quarter of the previous year and was mainly a result of a decrease in interest
costs.
The sales revenue of the vehicle trade segment in the 1st half-year of 2011
without the intra-segment transactions was 9.0 million euros, exceeding the
revenue generated in the same period of the previous year by 44.9%. The sales
revenue of 5.1 million euros generated in the second quarter exceeded the sales
revenue of the year before by 56.9%. The segment earned a profit of 0.6 million
euros during the half-year. 0.4 million euros of it was earned in the second
quarter. The respective profit indicators of 2010 were 0.0 million euros and
0.1 million euros.
The turnover of the footwear trade segment in the 1st half-year of 2011 was 6.2
million euros, having grown by 6.0% in a year. In the 2nd quarter, the turnover
was 3.7 million euros, having increased by 8.1% compared to the same period of
2010. The loss of the first half-year was 0.4 million euros, which means a
decrease of nearly 0.2 million euros compared to the same period of the
previous accounting year. The 2nd quarter was profitable for the footwear trade
segment - the profit of the segment was 0.3 million euros, exceeding the profit
generated in the 2nd quarter of 2010 by 0.2 million euros.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
In thousands of euros
30.06.2011 31.12.2010
--------------------------------------------------------
ASSETS
--------------------------------------------------------
Current assets
Cash and bank 6,288 15,734
Trade receivables 6,399 6,082
Other short-term receivables 2,962 5,549
Prepaid and refundable taxes 107 349
Other prepayments 766 748
Inventories 43,202 39,385
--------------------------------------------------------
Total current assets 59,724 67,847
--------------------------------------------------------
Fixed assets
--------------------------------------------------------
Prepaid expenses 1,346 1,272
Investments in associates 1,550 1,504
Other long-term receivables 68 141
Investment property 3,566 3,566
Tangible fixed assets 173,882 175,638
Intangible fixed assets 3,316 3,533
Goodwill 6,710 6,710
--------------------------------------------------------
Total fixed assets 190,438 192,364
--------------------------------------------------------
TOTAL ASSETS 250,162 260,211
--------------------------------------------------------
--------------------------------------------------------
LIABILITIES AND EQUITY ,
--------------------------------------------------------
Current liabilities
--------------------------------------------------------
Borrowings 9,033 17,635
Prepayments received 56 573
Trade payables 46,244 40,377
Tax liabilities 3,972 4,677
Other current liabilities 4,160 4,079
Provisions 103 127
--------------------------------------------------------
Total current liabilities 63,568 67,468
--------------------------------------------------------
Long-term liabilities
--------------------------------------------------------
Borrowings 63,884 63,844
Provisions 78 88
--------------------------------------------------------
Total long-term liabilities 63,962 63,932
--------------------------------------------------------
TOTAL LIABILITIES 127,530 131,400
--------------------------------------------------------
Equity
--------------------------------------------------------
Share capital 24,438 26,031
Statutory reserve capital 2,603 2,603
Revaluation reserve 52,752 53,308
Retained earnings 43,389 47,495
Currency translation differences -550 -626
--------------------------------------------------------
TOTAL EQUITY 122,632 128,811
--------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 250,162 260,211
--------------------------------------------------------
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
In thousands of euros
6 months 6 months 2nd 2nd quarter
2011 2010 quarter 2010
2011
--------------------------------------------------------------------------------
Revenue 206,224 197,184 110,084 103 296
--------------------------------------------------------------------------------
Other operating income 120 364 37 209
Materials and consumables used -153,458 -147,376 -80,953 -76 086
Other operating expenses -22,008 -21,611 -10,811 -10 381
Staff costs -16,976 -17,490 -8,856 -8 869
Depreciation and amortisation -4,936 -5,394 -2,504 -2 689
Other expenses -166 -363 -63 -141
--------------------------------------------------------------------------------
Operating profit 8,800 5,314 6,934 5 339
--------------------------------------------------------------------------------
Financial income 131 150 55 67
--------------------------------------------------------------------------------
Financial costs -852 -991 -446 -515
Financial income on shares of 101 97 46 55
associates
--------------------------------------------------------------------------------
Profit before income tax 8,180 4,570 6,589 4 946
--------------------------------------------------------------------------------
Income tax -3,031 0 -3,031 0
--------------------------------------------------------------------------------
Net profit for the reporting 5,149 4,570 3,558 4 946
period
--------------------------------------------------------------------------------
Other comprehensive income/(loss)
--------------------------------------------------------------------------------
Exchange differences 76 -36 5 -19
Other comprehensive income for 76 -36 5 -19
the reporting period
--------------------------------------------------------------------------------
TOTAL COMPREHENSIVE INCOME FOR 5,225 4,534 3,563 4,927
THE REPORTING PERIOD
--------------------------------------------------------------------------------
Raul Puusepp
Chairman of the Board
Phone +372 731 5000