Market announcement
AS Harju Elekter Group
LEI code
5299009GM96I0NYKWS93
Size of the entity
Large group
Economic activities
Real Estate Activities
Industry sector(s)
Credit rating agency
Country of registered office
Estonia
General information
Categories
Other price sensitive information
Unique data record identifier
3506
Attachments
Submission date and time
03.11.2011 11:43:25
Content of announcement in Estonian
Title
Kontserni majandustulemused, 1-9/2011
Message
Harju Elekter, kvartali vahearuanne Aruandeperioodil kasvasid Kontserni tootmismahud ning ka majandustulemused näitasid paranemistendentse. Kolmanda kvartali müügimaht kasvas üle 17% 13,0 miljoni euroni ja 9 kuuga viiendiku võrra 33,6 miljoni euroni. Tähtsamad näitajad (EUR’000) IIIkv 2IIIkv 29k 20119k 2010 2010 Müügitulu 13 035 11 099 33 574 28 00940 885 Ärikasum enne kulumit (EBITDA) 1 145 1 254 2 543 2 199 2 898 Ärikasum (EBIT) 806 917 1 506 1 166 1 519 Perioodi puhaskasum 996 852 2 324 2 014 2 295 sh emaettevõtte omanikele kuuluv osa 945 841 2 202 2 000 2 173 Kasum aktsia kohta (EUR) 0,06 0,05 0,13 0,12 0,13 Tootmise segmendi müügitulud kasvasid aruandekvartalis enam kui 18% 11,8 miljoni euroni ja 9 kuuga üle 21% 30,0 miljoni euroni, andes ka traditsiooniliselt suurima osa, 89% (88%) müügituludest. Mitmesuguste elektriseadmete müük kasvas III kvartalis ligi 23% 10,8 miljoni euroni, moodustades 83% aruandekvartali konsolideeritud müügitulust; 9 kuuga kasvas elektriseadmete müük enam kui 23% 27,2 miljoni euroni, moodustades konsolideeritud müügimahust 81%. Majanduskasvu kiirenemine Euroopa Liidu riikides 2010. aasta lõpus ja käesoleva aasta alguses on toonud kaasa majandusolukorra paranemise Kontserni koduturgudel. Enim on kasvanud müük Soome turule – 9 kuuga kolmandiku võrra 14,9 miljoni euroni ning III kvartalis enam kui 16% 5,6 miljoni euroni. Ka Eesti ja Leedu segmentide tootmisettevõtete müük Soome turule suurenes kokku 1,4 miljoni euro võrra. Müük Eesti turule kasvas aruandekvartalis ja ka 9 kuuga 30%, andes 39% aruandekvartali ja 38% üheksa kuu konsolideeritud müügimahust. Ligi 10% müügituludest saadi Leedu turult. Müük Leedu turule on aruandekvartalis tõusnud 61% 1,2 miljoni euroni ja 9 kuuga 17% 3,2 miljoni euroni. Eesti, Leedu ja Soome turgudel realiseeriti 9 kuuga 92% (85%), väljapoole Eestit 62% (65%) Kontserni toodetest ja teenustest. Kulutused tööjõule olid 2011. aasta III kvartalis 2,7 miljonit eurot, kasvades 24,2% ja 9 kuuga 7,7 miljonit eurot (kasv 18,8%). 2010. aastal rakendati Kontsernis kokkuhoiurežiimi, palgad olid külmutatud ja töötajad viidi osalisele tööajale. Käesoleval aastal on seoses tellimuste mahu kasvuga töötatud täistööajaga ning marginaalselt korrigeeritud ka töötasusid. Aruandeperioodil maksti töötajatele vastavalt Kontsernis kehtivale preemiasüsteemile välja lisatasusid ning moodustati preemiareserv aastaboonuste väljamaksmiseks. Kontserni ettevõtetesse on rekruteeritud uusi töötajaid ning III kvartalis kasutati ajutiselt ka täiendavat tööjõuressurssi. Aruandekvartali keskmine töötajate arv oli 14 inimese võrra suurem kui võrreldaval perioodil. Kontsernis töötas aruandekvartalis keskmiselt 435 inimest; 9 kuu keskmine töötajate arv oli 424. Aruandeperioodi lõpu seisuga töötas Kontsernis 455 inimest, mis oli 15 töötajat rohkem kui aasta alguses ning aasta tagasi(440 töötajat). Kolmandas kvartalis maksti töötajatele palkade ja tasudena välja 2,0 miljonit eurot, mis on viiendiku võrra enam kui võrreldaval kvartalil; 9 kuu summa oli 5,8 (2010 9 k: 5,1) miljonit eurot. Keskmine töötasu kuus töötaja kohta kasvas aruandeperioodil 198 euro võrra 1 519 euroni. Kolmanda kvartali ärikasum oli 806 (2010 III kv: 917) tuhat eurot ja ärikasum enne kulumit 1 145 (2010 III kv: 1 254) tuhat eurot. Ärirentaabluseks kujunes 6,2% (2010 III kv: 8,3%) ja ärirentaabluseks enne kulumit 8,8% (2010 III kv: 11,3%). Üheksa kuu konsolideeritud ärikasum oli 1 506 tuhat eurot, mis oli 340 tuhat eurot enam kui võrreldaval perioodil ja ärikasum enne kulumit oli 2 543 tuhat eurot, kasvades 15,6%. Üheksa kuu ärirentaablus enne kulumit oli 7,6% (2010 9 k: 7,9%) ja ärirentaablus 4,5%, mis oli 0,3 protsendipunkti parem võrreldava perioodi näitajast. Kokkuvõtteks kujunes III kvartali konsolideeritud puhaskasumiks 996 (2010 III kv: 852) tuhat eurot, millest emaettevõtte omanikele kuuluv osa moodustas 945 (2010 III kv: 841)tuhat eurot. Puhaskasum aktsia kohta oli III kvartalis 0,06 eurot (2010 III kv: 0,05) eurot. 9 kuuga teeniti puhaskasumit aktsia kohta 0,13 (2010 9 k: 0,12) eurot. Konsolideeritud puhaskasum kasvas 9 kuuga 15,4% 2 324 tuhande euroni, sellest emaettevõtte omanikele kuuluv osa moodustas 2 202 (2010 9 k: 2 000) tuhat eurot. Kontsern investeeris 9 kuuga kinnisvarainvesteeringutesse 1 801 tuhat, materiaalsesse põhivarasse 369 tuhat ja immateriaalsesse põhivarasse 85 tuhat eurot, kokku 2 255 tuhat eurot. Võrreldaval perioodil investeeriti kinnisvarainvesteeringutesse 286, materiaalsesse põhivarasse 2 082 ja immateriaalsesse põhivarasse 55 tuhat eurot, kokku 2 423 tuhat eurot. Andres Allikmäe Juhataja Lisainformatsioon: Harju Elektri 3. kvartali ja 9 kuu vahearuanne; Karin Padjus, finantsdirektor (tel 674 7403). Varud 7 008 5 411 Käibevara kokku 15 171 14 413 Sidusettevõtete aktsiad 1 080 680 Pikaajalised finantsinvesteeringud 14 525 21 539 Kinnisvarainvesteeringud 10 219 8 711 Materiaalne põhivara 9 051 9 350 Immateriaalne põhivara 430 421 Põhivara kokku 35 305 40 701 VARAD KOKKU 50 476 55 114 KOHUSTUSED JA OMAKAPITAL Võlakohustused 1 210 1 539 Võlad tarnijatele ja muud võlad 6 545 5 178 Maksuvõlad 875 915 Ettevõtte tulumaks 27 19 Lühiajalised eraldised 68 79 Kokku lühiajal.kohustused 8 725 7 730 Pikaajalised kohustused 1 869 1 838 Kohustused kokku 10 594 9 568 Aktsiakapital 11 760 10 737 Ülekurss 0 384 Reservkapital 14 379 21 396 Jaotamata kasum 12 075 11 440 Emaettevõtte osalus omakapitalis 38 214 43 957 Mitte-kontrolliv osalus 1 668 1 589 Kokku omakapital 39 882 45 546 KOHUSTUSED JA OMAKAPITAL KOKKU 50 476 55 114 KASUMIARUANNE KONSOLIDEERITUD KASUMIARUANNE 01.01.-30.09.2011 Konsolideeritud, auditeerimata EUR’000 Kontsern KV3 2011 KV3 2010 9 k 20119 k 2010 Realiseerimise netokäive 13 035 11 099 33 574 28 009 Realiseeritud toodete kulud -10 698 -9 161 -27 907 -23 650 Kogukasum 2 337 1 938 5 667 4 359 Turustuskulud -631 -427 -1 666 -1 268 Üldhalduskulud -900 -613 -2 461 -1 947 Muud äritulud 16 26 21 50 Muud ärikulud -16 -7 -55 -28 Ärikasum 806 917 1 506 1 166 Neto finantstulud/ (-kulud) -15 -13 760 1 055 Tulu/kulu sidusettevõttest 291 -1 400 57 Kasum enne maksustamist 1 082 903 2 666 2 278 Tulumaks -86 -51 -342 -264 Maksustamisjärgne kasum, sh 996 852 2 324 2 014 emaettevõtte omanike osa 945 841 2 202 2 000 mitte-kontrolliv osa 51 11 122 14 Tava puhaskasum aktsia kohta 0,06 0,05 0,13 0,12 Lahustatud puhaskasum aktsia kohta 0,06 0,05 0,13 0,12 Karin Padjus Finantsdirektor 6 747 403
Content of announcement in English
Title
Financial results, 1-9/2011
Message
Harju Elekter, Quarterly report During the reporting period the Group increased production volumes and the financial indicators demonstrated improvement trends. In Q3, the sales revenue of the Group increased more than 17% to 13.0 million euros and during the 9 months by one fifth up to 33.6 million euros. Key figures (EUR’000) Q3 2011Q3 20109M 20119M 2010 2010 Sales revenue 13,035 11,099 33,574 28,00940,885 EBITDA 1,145 1,254 2,543 2,199 2,898 Operating profit 806 917 1,506 1,166 1,519 Net profit for the current period 996 852 2,324 2,014 2,295 Incl. equity holders of the parent 945 841 2,202 2 2,173 EPS (EUR) 0.06 0.05 0.13 0.12 0.13 The sales revenue of the production segment increased by more than 18% up to 11.8 million euros in the reporting quarter and over 21% to 30.0 million euros within 9 months, traditionally amounting to the largest share – 89% (88%) of the sales revenue. The sale of miscellaneous electrical installations increased by 23% to 10.8 million euros in the Q3, accounting for 83% of the sales revenue of the reporting quarter, and increased by more than 23% to 27.2 million euros within 9 months, making up 81% of the sales revenue. An increase in economic growth in the EU countries at the end of 2010, and at the beginning of this year, has resulted in improvement of the economic situation in the domestic markets of the Group. Sales have increased the most to the Finnish market – during the 9 months by one third up to 14.9 million euros and in Q3 more than 16% up to 5.6 million euros. At the same time, the sales of production companies of the Estonian and Lithuanian segments to the Finnish market increased also. In the reporting quarter as well as during the 9 months, the sales of products and services to the Estonian market increased by 30% compared to the reference period, which was 39% and 38% of the total sales revenue respectively. Approximately 10% of the sales revenue was earned in the Lithuanian market. Sales in the Lithuanian market have increased by more than 60% up to 1.2 million euros in the reporting quarter and by almost 17% to 3.2 million euros in 9 months. Totally, in the Estonian, Lithuanian and Finnish markets were sold 91.8% (84.6%) of the Group’s products and services. 62% (65%) of Group products were sold outside of Estonia. Expenses on staff in Q3 2011 were 2.7 million euros, increasing by 24.2% and in 9m 2011 7.7 million euros, increasing by 18.8%. In 2010, a costs savings regime was implemented at the Group, wages were frozen and employees worked temporarily on a part-time basis. Due to the increase in the volume of orders this year, new employees have been hired at Group companies and temporary employees were used in the third quarter; also wages and salaries were marginally adjusted. In the reporting period, additional remuneration was paid to the employees under the current bonus system; a bonus reserve was also set up for payment of annual bonuses. In the reporting quarter, the average number of employees was 14 employees more than in the comparable period. In the reporting quarter, on the average 435 people worked in the Group; the average number of employees within 9 months was 424. As at the balance day on 30 September, there were 455 people working in the Group, which were 15 employees more than on the beginning of the year as well as a year before (440 employees). In the third quarter, employee wages and salaries totalled 2,0 million euros, which is one fifth higher than in the comparable quarter and they totalled 5,8 (9M 2010: 5,1) million euros in 9 months; and the average wages per employee per month have increased by 198 euros to 1,519 euros. Operating profit of Q3 2011 was 806 (Q3 2010: 917) thousand euros and EBITDA was 1,145 (Q3 2010:1,254) thousand euros. Return of sales for the period was 6.2% (Q3 2010: 8.3%) and return of sales before depreciation was 8.8% (Q3 2010: 11.3%). Operating profit of the 9m 2011 was 1,506 thousand euros, which was 340 thousand euros more than comparing period and EBITDA was 2,543 thousand euros, growth 15.6%. Return of sales before depreciation in 9m was 7.6% (9m 2010: 7.9%) and return of sales for the period 4.5%, which was 0.3 per cent point better than a year before. Overall, the consolidated net profit of the Q3 2011 was 996 (Q3 2010: 852) thousand euros, of which the share of the owners of the parent company was 945 (Q3 2010: 841) thousand euros. EPS in the Q3 was 0.06 (Q3 2010: 0.05) euros. During the first 9 months earnings per share were 0.13 (9m 2010: 0.12) euros. The consolidated net profit increased during nine months by 15.4% and was 2,324 thousand euros, of which the share of the owners of the parent company was 2,202 (9m 2010: 2,000) thousand euros. During the 9 months the Group invested 1,801 thousand euros in real estate, 369 thousand euros in tangible fixed assets and 85 thousand euros in intangible fixed assets, totally 2,255 thousand euros. During the compared period the Group invested 286 in real estate, 2,082 in tangible fixed assets and 55 thousand euros in intangible fixed assets, totally 2,423 thousand euros. Andres Allikmäe Member of the Board For more information: Interim report 1-9/2011; Mrs Karin Padjus, FO, phone +372 674 7403 AS HARJU ELEKTER BALANCE SHEET, 30.09.2011 Consolidated, unaudited Group in thousands EUR ASSETS 30.09.11 31.12.10 Cash and cash equivalents 798 2 400 Trade receivables and other receivables 7 260 6 479 Prepayments 105 123 Prepaid income tax 0 0 Inventories 7 008 5 411 TOTAL CURRENT ASSETS 15 171 14 413 Investments in associates 1 080 680 Other long-term financial investments 14 525 21 539 Investment property 10 219 8 711 Property, plant and equipment 9 051 9 350 Intangible assets 430 421 Total non-current assets 35 305 40 701 TOTAL ASSETS 50 476 55 114 LIABILITIES AND OWNERS' EQUITY Interest-bearing loans and borrowings 1 210 1 539 Trade payables and other payables 6 545 5 178 Tax liabilities 875 915 Income tax liabilities 27 19 Short-term provision 68 79 TOTAL CURRENT LIABILITIES 8 725 7 730 NON-CURRENT LIABILITIES 1 869 1 838 TOTAL LIABILITIES 10 594 9 568 Share capital 11 760 10 737 Paid-in capital over/under par 0 384 Restricted reserves 14 379 21 396 Retained earnings 12 075 11 440 TOTAL OWNERS' EQUITY 38 214 43 957 Non-controlling interests 1 668 1 589 TOTAL EQUITY 39 882 45 546 TOT.LIABILIT.AND OWNERS' EQUITY 50 476 55 114 INCOME STATEMENT, 1-9/2011 Consolidated,unaudited EUR’000 GROUP Q3 2011 Q3 2010 9M 2011 9M 2010 NET SALES 13 035 11 099 33 574 28 009 Cost of goods sold -10 698 -9 161 -27 907 -23 650 Gross profit 2 337 1 938 5 667 4 359 Marketing expenses -631 -427 -1 666 -1 268 Administrative expenses -900 -613 -2 461 -1 947 Other revenue 16 26 21 50 Other expenses -16 -7 -55 -28 Operating profit 806 917 1 506 1 166 Net financial incomes/expenses -15 -13 760 1 055 Income from subsidiaries 291 -1 400 57 Profit from normal operations 1 082 903 2 666 2 278 Corporate Income tax -86 -51 -342 -264 Profit after taxes, incl 996 852 2 324 2 014 Net profit for the year 945 841 2 202 2 000 Non-controlling interest 51 11 122 14 Basic earnings per share 0,06 0,05 0,13 0,12 Diluted earnings per share 0,06 0,05 0,13 0,12 Karin Padjus Financial manager 67 47 403