Market announcement
Nordic Fibreboard AS
LEI code
54930002HOIXBD15OM06
Size of the entity
Small group
Economic activities
Financial and Insurance Activities
Country of registered office
Estonia
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
4060
Attachments
Submission date and time
17.05.2013 17:01:02
Content of announcement in Estonian
Title
Majandustulemused 3 kuud 2013
Message
Pärnu, 2013-05-17 16:01 CEST (GLOBE NEWSWIRE) --
KOKKUVÕTE
Skano Group ASi 2013 aasta esimese kvartali konsolideeritud müügitulu kahanes
2012 aasta esimese kvartaliga võrreldes 4% ja oli 4,4 mln eurot. Kontserni
EBITDA oli esimeses kvartalis negatiivne miinus 37 tuhat eurot, 2012 aasta
esimeses kvartalis oli EBITDA positiivne vastavalt 147 tuhat eurot. Esimese
kvartali tulemus sisaldas ka ühekordseid kulusid summas 92 tuhat eurot.
Skano Fibreboard Pärnu tehaste müük (sh. Isotex) esimeses kvartalis oli 1,8 mln
eurot kasvades eelmise aasta sama perioodiga võrreldes 3%. 2013 aasta esimese
kvartali ärikahjum oli 135 tuhat eurot võrreldes 26 tuhade eurose ärikahjumiga
eelmise aasta samal perioodil.
Skano Fibreboard Püssi kiudplaaditehase käive oli 591 tuhat eurot kahanedes 19%
võrreldes eelmise aasta sama perioodiga. 2013 aasta esimese kvartali ärikahjum
oli 212 tuhat eurot võrredluna 237 tuhande eurose ärikahjumiga eelmise aasta
samal perioodil. Välisturgude nõrgast nõudlusest tulenevalt töötas tehas
esimeses kvartalis 50% võimsusega. Müügi langus tulenes Euroopa majanduse
üldisest nõrkusest ja ka külmast kevadest, mis lükkas edasi aktiivset
ehitusperioodi. Mõlema tehase kasumlikkusele avaldas enim mõju
müügitellimustest tulenev tooteportfelli fragmenteeritus, kus suur arv
väiksemahulisi tellimusi põhjusid madala tootmisefektiivuse ning kõrge
omahinna. Ettevõtte juhtkonna prioriteediks on jätkuvalt Püssi tehase
toodangule müügi kindlustamine maksimaalse tootmisvõimsuse tagamiseks.
Skano Furniture Pärnu mööblivabriku 2013 aasta esimese kvartali käive kahanes
eelmise aasta sama perioodiga võrreldes 5% ja oli 1 676 tuhat eurot. Esimese
kvartali ärikasum oli 33 tuhat eurot võrrelduna 159 tuhande eurose ärikasumiga
2012 aasta esimeses kvartalis. Müük vähenes kõikides regioonides (v.a. müük
tütarettevõttele) tulenevalt nõrgast välisnõudlusest. Lisaks olemasolevatel
turgudel uute müügivõimaluste otsimisele on ettevõtte jaoks oluline suund ka
uutele turgudele minek. Selle eesmärgiga palgati esimeses kvartalis
Lääne-Euroopa müügijuht väljaspoolt Eestit.
Skano Furniture jaemüügiketi käive kahanes eelmise aasta sama perioodiga
võrreldes 1% ja oli 549 tuhat eurot ning ärikasum oli 59 tuhat eurot võrrelduna
5 tuhande eurose ärikahjumiga 2012 aasta esimeses kvartalis. 2013 aasta
ärikasum sisaldas Ukraina grivna kursimuutusest tekkinud kasumit summas 45
tuhat eurot. Mööbli jaemüük kasvas Eesti, kuid kahanes teistes regioonides.
Kontserni Baltikumi jaemüügi paremaks juhtimiseks toimus esimese kvartali lõpus
struktuurimuudatus, kus senine Eesti jaemüügijuht hakkas kordineerima kogu
Baltikumi jaemüüki. Jaemüügist moodustab Skano Group ASi enda toodetud mööbli
müük jätkuvalt olulise osa ning see võimaldab mööblivabrikul opereerida
tunduvalt kasumlikumalt, kui see ilma oma jaemüügiketita võimalik oleks.
KASUMIARUANNE
Aruandeaasta esimese kvartali müügitulu oli 4,4 mln eurot (2012 aastal 4,6 mln
eurot) mis tähendab 2012 aasta esimese kvartaliga võrreldes 4%-list kahanemist.
Kontserni müügikäibe brutorentaablus oli 2013 aasta esimeses kvartalis 11,9%
(võrrelduna 2012 aasta esimese kvartali 13,7%-ga). Konsolideeritud ärikahjum
oli 266 tuhat eurot (2012 aasta samal perioodil põhitegevuse ärikahjum 99 tuhat
eurot). Konsolideeritud müügikäibe ärirentaablus oli -6% (võrrelduna 2012 aasta
esimese kvartali põhitegevuse ärirentaabluse -2%-ga).
Konsolideeritud puhaskahjum oli 312 tuhat eurot (2012 aasta esimeses kvartalis
oli põhitegevuse puhaskahjum 164 tuhat eurot) ja puhasrentaablus oli -7%
(võrrelduna 2012 aasta esimese kvartali -4%-ga).
FINANTSSEISUNDI ARUANNE
Kontserni koguvarade maht oli 31.03.2013 seisuga 15,5 mln eurot (31.03.2012:
16,3 mln eurot), millest ettevõtte kohustused moodustasid 31.03.2013 seisuga
8,3 mln eurot (31.03.2012: 8,8 mln eurot) ehk 53,8% (31.03.2012: 53,9%).
Nõuded ja ettemaksud on kahanenud 0,2 mln eurot, vähenedes 12 kuuga 9%. Nõuete
vähenemise põhjuseks on perioodi väiksem müük ning ettevõttesisene deebitoride
maksepoliitika karmistamine.
Varud jäid 12 kuuga samale tasemele, moodustades 31.03.2013 seisuga 3,3 mln
eurot. Seisuga 31.03.2012 oli varude maht samuti 3,3 mln eurot. Materiaalne ja
immateriaalne põhivara vähenes 0,6 mln eurot peamiselt kulumi tõttu.
Lühiajalised laenukohustused olid seisuga 31.03.2013 1,4 mln eurot (31.03.2012
1,5 mln eurot) ja vähenesid 12 kuuga kokku 0,1 mln eurot. Võlad hankijatele,
maksukohustused, muud võlad, sh võlad töötajatele ja eraldised moodustasid 2,3
mln eurot (seisuga 31.03.2012 2,5 mln eurot). Lühi- ja pikaajalised kohustused
kokku kahanesid 0,5 mln eurot 8,3 mln euroni (31.03.2012 8,8 mln eurot).
ÄRIVALDKONDADE ÜLEVAADE
MÜÜK SEGMENTIDE LÕIKES
tuh EUR % käibest
------------------------------------------------------------------------
I kv. 2013 I kv. 2012 I kv. 2013 I kv. 2012
------------------------------------------------------------------------
Skano Fibreboard 2 462 2 485 56,5% 54,5%
------------------------------------------------------------------------
Skano Furniture tootmine 1 676 1 757 38,4% 38,6%
------------------------------------------------------------------------
Skano Furniture jaemüük 549 553 12,6% 12,1%
------------------------------------------------------------------------
Elimineerimine (326) (236) (7,5%) (5,2%)
------------------------------------------------------------------------
KOKKU 4 361 4 559 100,0% 100,0%
------------------------------------------------------------------------
MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
-------------------------------------------------------------
I kv. 2013 I kv. 2012 I kv. 2013 I kv. 2012
-------------------------------------------------------------
Soome 1 242 1 342 28,5% 29,4%
-------------------------------------------------------------
Venemaa 1 230 1 267 28,2% 27,8%
-------------------------------------------------------------
Eesti 621 564 14,2% 12,4%
-------------------------------------------------------------
Suurbitannia 373 455 8,6% 10,0%
-------------------------------------------------------------
Holland 215 133 4,9% 2,9%
-------------------------------------------------------------
Ukraina 185 204 4,2% 4,5%
-------------------------------------------------------------
Läti 120 141 2,8% 3,1%
-------------------------------------------------------------
Rootsi 96 126 2,2% 2,8%
-------------------------------------------------------------
Leedu 95 133 2,2% 2,9%
-------------------------------------------------------------
Kasahstan 41 0 0,9% 0,0%
-------------------------------------------------------------
Taani 38 48 0,9% 1,1%
-------------------------------------------------------------
India 28 18 0,6% 0,4%
-------------------------------------------------------------
Tsehhi 18 1 0,4% 0,0%
-------------------------------------------------------------
Teised riigid 59 127 1,4% 2,7%
-------------------------------------------------------------
KOKKU 4 361 4 559 100,0% 100,0%
-------------------------------------------------------------
Turgude lõikes on käive kasvanud Eestis ja Hollandis. Enam on vähenenud Soome
ja Suubritannia osatähtsus käibes.
KASUM SEGMENTIDE LÕIKES
tuh EUR IV kv. 2012 IV kv. 2011
--------------------------------------------------
Skano Furniture tootmine 33 159
--------------------------------------------------
Skano Furniture jaemüük 59 (5)
--------------------------------------------------
Skano Fibreboard (347) (264)
--------------------------------------------------
Elimineerimine (11) 11
--------------------------------------------------
KOKKU (266) (99)
--------------------------------------------------
Neto finantskulud (55) (67)
--------------------------------------------------
Tulumaksukulu (1) (7)
--------------------------------------------------
PUHASKASUM (322) (173)
--------------------------------------------------
SKANO FIBREBOARD
Skano Fibreboard müügitulu oli 2013 aasta esimeses kvartalis 2,46 mln eurot ja
ärikahjum 347 tuhat eurot. Eelmise aasta samal perioodil oli üksuse käive 2,49
mln eurot ja ärikahjum 264 tuhat eurot. Tulenevalt Euroopa majanduse üldisest
nõrkusest ja ka külmast kevadest, mis lükkas edasi aktiivset ehitusperioodi,
langes müük ühtlaselt kõigis regioonides ja kliendisektorites v.a. Venemaa.
Suurim müügilangus eelmise aasta sama perioodiga võrreldes toimus
Suurbritannias ja Soomes vastavalt langus 18% ja 7%. Enim kasvas müük
Hollandisse ja Venemaale vastavalt 62% ja 11%. Kasumlikkusele avaldas enim mõju
müügitellimustest tulenev tooteportfelli fragmenteeritus, kus suur arv
väiksemahulisi tellimusi põhjusid madala tootmisefektiivuse ning kõrge
omahinna.
MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
---------------------------------------------------------------
I kv. 2013 I kv. 2012 I kv. 2013 I kv. 2012
---------------------------------------------------------------
Soome 632 680 25,7% 27,4%
---------------------------------------------------------------
Venemaa 472 427 19,2% 17,2%
---------------------------------------------------------------
Suurbritannia 373 455 15,1% 18,3%
---------------------------------------------------------------
Eesti 354 362 14,4% 14,6%
---------------------------------------------------------------
Holland 215 133 8,7% 5,4%
---------------------------------------------------------------
Rootsi 96 126 3,9% 5,1%
---------------------------------------------------------------
Läti 64 68 2,6% 2,7%
---------------------------------------------------------------
Taani 38 48 1,5% 1,9%
---------------------------------------------------------------
India 28 18 1,1% 0,7%
---------------------------------------------------------------
Ukraina 19 27 0,8% 1,1%
---------------------------------------------------------------
Leedu 19 21 0,8% 0,8%
---------------------------------------------------------------
Teised riigid 77 120 3,1% 4,8%
---------------------------------------------------------------
Kontsernisisene 75 0 3,1% 0,0%
---------------------------------------------------------------
KOKKU 2 462 2 485 100,0% 100,0%
---------------------------------------------------------------
Skano Fibreboard käibe suurim kasv on olnud Venemaa ja Hollandi müügis. Soome
osatähtsus käibes on langenud.
tuh EUR Müük Ärikasum
-------------------------------------------------------------------------------
I kv. 2013 I kv. 2012 I kv. 2013 I kv. 2012
-------------------------------------------------------------------------------
Pärnu kiudplaadivabrik 1 235 1 230 (193) (75)
-------------------------------------------------------------------------------
Püssi kiudplaadivabrik 591 733 (212) (237)
-------------------------------------------------------------------------------
Pärnu vääristamisüksus (Isotex) 561 521 58 49
-------------------------------------------------------------------------------
Allokeerimata 75 1 0 (1)
-------------------------------------------------------------------------------
KOKKU 2 462 2 485 (347) (264)
-------------------------------------------------------------------------------
Pärnu kiudplaadivabriku ja siseviimistlusplaatide liini käive kasvas eelmise
aasta esimese kvartaliga võrreldes 3% ja oli 1,8 miljonit eurot.
Püssis asuva kiudplaaditehase käive oli 591 tuhat eurot ning ärikahjum 212
tuhat eurot. Jätkuvalt on Püssi tehase probleemiks nõrk müük. Esimeses
kvartalis töötas tehas ca 50% võimsusega.
Oluline on märkida, et tänu suurtele püsikuludele tuleb tehase kasumlikuks
opereerimiseks käitada seda võimalikult suurel võimsusel, mis tagab madalama
toote keskmise omahinna.
SKANO FURNITURE
MÖÖBLI JAEMÜÜK
Skano Group ASi mööbli jaeäri opereerivad Skano Furniture OÜ ja selle
tütarfirmad Lätis, Leedus ja Ukrainas. Seisuga 31.03.2013 on mööblikaupluste
ketis kokku 9 kauplust: kaks Tallinnas ja üks Pärnus, Riias, Vilniuses,
Kiievis, Donetskis, Harkovis ja Dnepropetrovskis.
JAEMÜÜK RIIKIDE LÕIKES
tuh EUR % käibest Kaupluste arv
---------------------------------------------------------------------------
I kv. 2013 I kv. 2012 I kv. 2013 I kv. 2012 31.03.13 31.03.12
---------------------------------------------------------------------------
Eesti 251 191 45,7% 34,5% 3 3
---------------------------------------------------------------------------
Läti 56 73 10,2% 13,2% 1 1
---------------------------------------------------------------------------
Leedu 76 112 13,8% 20,3% 1 1
---------------------------------------------------------------------------
Ukraina 166 177 30,3% 32,0% 4 5
---------------------------------------------------------------------------
Kokku 549 553 100,0% 100,0% 9 10
---------------------------------------------------------------------------
Mööbli jaemüük on jõudnud müügimahuni, millega on tegevus kasumlik ning 2013
aasta esimese kvartali ärikasum oli 59 tuhat eurot, sisaldades ka tulusid
Ukraina grivna kursi muutusest summas 45 tuhat eurot. Mööbli jaemüük kasvas
Eesti, kuid kahanes teistes regioonides. Kontserni Baltikumi jaemüügi paremaks
juhtimiseks toimus esimese kvartali lõpus struktuurimuudatus, kus senine Eesti
jaemüügijuht hakkas kordineerima kogu Baltikumi jaemüüki.
MÖÖBLI TOOTMINE
Pärnu mööblivabrikus oli 2013 aasta esimese kvartali müügitulu 1,7 mln eurot ja
ärikasum 33 tuhat eurot. Eelmise aasta samal perioodil oli mööblivabriku käive
1,8 mln eurot ja ärikasum 159 tuhat eurot. Võrreldes eelmise aastaga on vabriku
käive vähenenud 81 tuhat eurot ja ärikasum vähenenud 126 tuhat eurot. Müük
vähenes kõikides regioonides (v.a. tütarettevõte) tulenevalt nõrgast
välisnõudlusest. Lisaks olemasolevatel turgudel uute müügivõimaluste otsimisele
on ettevõtte jaoks oluline suund ka uutele turgudele minek. Selle eesmärgiga
palgati esimeses kvartalis Lääne-Euroopa müügijuht väljaspoolt Eestit.
MÖÖBLIVABRIKU MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
---------------------------------------------------------------
I kv. 2013 I kv. 2012 I kv. 2013 I kv. 2012
---------------------------------------------------------------
Venemaa 758 840 45,2% 47,8%
---------------------------------------------------------------
Soome 610 662 36,4% 37,7%
---------------------------------------------------------------
Kasahstan 41 0 2,4% 0,0%
---------------------------------------------------------------
Eesti 16 11 1,0% 0,6%
---------------------------------------------------------------
Teised riigid 0 8 0,0% 0,5%
---------------------------------------------------------------
Tütarettevõtted 251 236 15,0% 13,4%
---------------------------------------------------------------
Kokku 1 676 1 757 100,0% 100,0%
---------------------------------------------------------------
PROGNOOS JA ARENG
SKANO FIBREBOARD. Pärnu kiudplaaditehase põhitootmisliin töötab 2013 aasta
teises kvartalis täisvõimsusel, kuid teise kvartali sisse jääb igaaastane
tehase planeeritud hooldusremont kestvusega 3 nädalat, mida saab teostada
ainult soojadel kuudel. Siseviimistlusplaatide Isotex liinidel toimub tootmine
tavavõimsusel. Püssi tehas töötab madalast nõudlusest tingituna 2013 aasta
teise kvartali alguses umbes 70% võimsusega, kuid kvartali lõpuks planeerime
juba 80-90% võimsuse saavutamist. Skano Fibrebordi müük käesoleva aasta teises
kvartlis ületab tõenäoliselt eelmise aasta teise kvartali müüki.
Vaatamata välisturgude nõrgale nõudlusele ja Euroopa majanduse seisukorrale
oleme mõõdukalt optimistlikud müügi kasvu osas aasta teises pooles, seda
eelkõige Venemaal ja Soomes. Venemaa müügimahud on viimastel aastatel pidevalt
kasvanud ning prognoosime trendi jätkumist ka 2013 aastaks. Soome ja teiste
regioonide müügimahtude langus 2013 aasta esimeses kvartalis oli suuresti
tingitud halvenenud majanduskeskkonnast, mis tõenäoliselt ei parane 2013 aasta
jooksul. Eelmise aasta lõpus vahetasime turunduspartnerit ja oleme oma
turundustegevust Soomes 2013 aastal oluliselt laiendamas ning planeerime müügi
kasvu uute klientide arvelt. Samuti oleme Soomes sõlminud strateegilise
koostöölepingu, mille edukal käivitumisel loodame laiendada Püssi tehase
toodete sortimenti ning prognoosime Püssi tehase tootmismahu märkimisväärset
kasvu 2013 aasta teisel poolaastal. Samal põhjusel kasvab eeldatavalt ka Pärnu
tehase tootmismaht. Nimetatud tegurite koosmõjul loodame oluliselt
efektiivsemaks muuta tootmisprotsessi ning saavutada senisest madalama omahinna
ning suuremad müügimahud aasta teisel poolel.
SKANO MÖÖBLI JAEMÜÜK. Prognoosime, et 2013 aasta teise kvartali jaemüük ületab
vähesel määral eelmise aasta teise kvartali müüki.
SKANO MÖÖBLIVABRIK. 2013 aasta teises kvartalis plaanime mööblivabrikus eelmise
aastaga võrreldes veidi väiksemat käivet tulenevalt üldisest halvenenud
majanduskeskkonnast lähiturgudel. Aasta teises pooles loodame müügile natuke
tuge juba uutelt turgudelt ja seda esmalt Suurbritannia arvelt, kus pärast
edukat kevadist mööblimessi on kohaliku partneriga kokku lepitud edasine
tegevuskava Skano mööbli esindamise ja müügi osas Suurbritannias. Lisaks otsime
võimalusi sisenemiseks märksa suuremas mahus teistele Lääne-Euroopa turgudele.
SKANO GROUP AS.
Mai alguses rahuldas EAS Skano Group AS ekspordiarenduse toetuse taotluse 2013.
ja 2014. aastaks mahus 100 tuhat eurot.
FINANTSSUHTARVUD
tuh EUR 3 kuud 2013 3 kuud 2012 3 kuud 2011
-------------------------------------------------------------------------------
Kasumiaruanne
-------------------------------------------------------------------------------
Müügitulu 4 361 4 559 4 024
-------------------------------------------------------------------------------
EBITDA -37 147 280
-------------------------------------------------------------------------------
EBITDA rentaablus (0,8%) 3,2% 7,0%
-------------------------------------------------------------------------------
Ärikasum (266) (99) 129
-------------------------------------------------------------------------------
Ärirentaablus (6,1%) (2,2%) 3,2%
-------------------------------------------------------------------------------
Puhaskasum (322) (173) 102
-------------------------------------------------------------------------------
Puhasrentaablus (7,4%) (3,8%) 2,5%
-------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Bilanss (31.03)
-------------------------------------------------------------------------------
Koguvarad 15 511 16 337 9 568
-------------------------------------------------------------------------------
Koguvarade puhasrentaablus (2,1%) (1,1%) 1,1%
-------------------------------------------------------------------------------
Omakapital 7 170 7 529 5 448
-------------------------------------------------------------------------------
Omakapitali puhasrentaablus (4,5%) (2,3%) 1,9%
-------------------------------------------------------------------------------
Võlakordaja 53,8% 53,9% 43,1%
-------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsia (31.03)
-------------------------------------------------------------------------------
Aktsia sulgemishind (EUR) 1,19 1,57 1,50
-------------------------------------------------------------------------------
Puhaskasum aktsia kohta (EUR) (0,07) (0,04) 0,02
-------------------------------------------------------------------------------
Hind-tulu (PE) suhtarv (17,00) (39,25) 75,00
-------------------------------------------------------------------------------
Aktsia raamatupidamisväärtus (EUR) 1,59 1,67 1,21
-------------------------------------------------------------------------------
Turuhinna ja raamatupidamisväärtuse suhe 0,75 0,94 1,24
-------------------------------------------------------------------------------
Turukapitalisatsioon 5 354 7 064 6 749
-------------------------------------------------------------------------------
EBITDA = ärikasum + kulum
EBITDA rentaablus = EBITDA / müügitulu
Ärirentaablus = ärikasum / müügitulu
Puhasrentaablus = puhaskasum / müügitulu
Koguvarade puhasrentaablus = puhaskasum / koguvarad
Omakapitali puhasrentaablus = puhaskasum / omakapital
Võlakordaja = kohustused / koguvarad
Puhaskasum aktsia kohta = puhaskasum / aktsiate arv
Hind-tulu (PE) suhtarv = aktsia sulgemishind / puhaskasum aktsia kohta
Aktsia raamatupidamisväärtus = omakapital / aktsiate arv
Turuhinna ja raamatupidamisväärtuse suhe = aktsia sulgemishind / aktsia
raamatupidamisväärtus
Turukapitalisatsioon = aktsia sulgemishind * aktsiate arv
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
tuh EUR 31.03.2013 31.12.2012 31.03.2012
----------------------------------------------------------------------------
Raha ja raha ekvivalendid 137 158 204
----------------------------------------------------------------------------
Nõuded ja ettemaksed (lisa 1) 1 925 1 792 2 126
----------------------------------------------------------------------------
Varud (lisa 2) 3 347 3 303 3 336
----------------------------------------------------------------------------
Käibevara kokku 5 409 5 253 5 666
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Kinnisvarainvesteeringud (lisa 3) 185 185 185
----------------------------------------------------------------------------
Materiaalne põhivara (lisa 4) 9 896 10 010 10 471
----------------------------------------------------------------------------
Immateriaalne põhivara (lisa 5) 21 23 15
----------------------------------------------------------------------------
Põhivara kokku 10 102 10 218 10 671
----------------------------------------------------------------------------
----------------------------------------------------------------------------
AKTIVA (vara) KOKKU 15 511 15 471 16 337
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Võlakohustused (lisa 6) 1 444 1 845 1 519
----------------------------------------------------------------------------
Võlad ja ettemaksed (lisa 7) 2 324 1 923 2 552
----------------------------------------------------------------------------
Lühiajalised eraldised (lisa 8) 9 12 8
----------------------------------------------------------------------------
Lühiajalised kohustused kokku 3 777 3 780 4 079
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Pikaajalised võlakohustused (lisa 6) 4 328 3 973 4 490
----------------------------------------------------------------------------
Pikaajalised eraldised (lisa 8) 236 236 239
----------------------------------------------------------------------------
Pikaajalised kohustused kokku 4 564 4 209 4 729
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Kohustused kokku 8 341 7 989 8 808
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Aktsiakapital (nimiväärtuses) (lisa 9) 2 699 2 699 2 699
----------------------------------------------------------------------------
Ülekurss 364 364 364
----------------------------------------------------------------------------
Kohustuslik reservkapital 288 288 288
----------------------------------------------------------------------------
Ümberhindluse kursivahed (11) (21) (2)
----------------------------------------------------------------------------
Eelmiste perioodide jaotamata kasum 4 152 4 353 4 353
----------------------------------------------------------------------------
Aruandeaasta kasum (kahjum) (lisa 10) (322) (201) (173)
----------------------------------------------------------------------------
Omakapital kokku 7 170 7 482 7 529
----------------------------------------------------------------------------
----------------------------------------------------------------------------
PASSIVA (kohustused ja omakapital) KOKKU 15 511 15 471 16 337
----------------------------------------------------------------------------
KONSOLIDEERITUD KASUMI- JA MUU KOONDKASUMIARUANNE
tuh EUR I kv 2013 I kv 2012
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Müügitulu (lisa 11) 4 361 4 559
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Müüdud toodangu kulu (3 841) (3 934)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Brutokasum 520 625
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Turustuskulud (580) (600)
--------------------------------------------------------------------------------
Üldhalduskulud (207) (110)
--------------------------------------------------------------------------------
Muud äritulud 42 36
--------------------------------------------------------------------------------
Muud ärikulud (41) (50)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Ärikasum (kahjum) (lisa 11) (266) (99)
--------------------------------------------------------------------------------
Neto finantskulu (55) (67)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Kasum(kahjum) enne tulumaksu (321) (166)
--------------------------------------------------------------------------------
Tulumaksukulu (1) (7)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
PERIOODI PUHASKASUM (KAHJUM) (322) (173)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum:
--------------------------------------------------------------------------------
Valuutakursside muutuste mõju konsolideerimisel 10 9
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
PERIOODI KOONDKASUM(KAHJUM) (312) (164)
--------------------------------------------------------------------------------
Tava perioodi puhaskasum(kahjum) aktsia kohta (lisa 10) (0,07) (0,04)
--------------------------------------------------------------------------------
Lahustatud perioodi puhaskasum(kahjum) aktsia kohta (lisa (0,07) (0,04)
10)
--------------------------------------------------------------------------------
2013. aasta teise kvartali vahearuande planeeritud avalikustamise aeg on nädal
34 (19.-23. august 2013)
Martin Kalle
Finantsdirektor
447 8831
[email protected]
www.skano.com
Content of announcement in English
Title
Financial result, 3 months 2013
Message
Pärnu, 2013-05-17 16:01 CEST (GLOBE NEWSWIRE) --
MANAGEMENT REPORT
FIRST QUARTER IN SHORT
Consolidated net sales of the first quarter of 2013 was 4.4 mil. euros,
representing a 4% decrease on the first quarter compared to the same period in
2012. At the same time, consolidated EBITDA amounted to minus 37 thousand euros
(147 thousand euros in Q4 2011). The result of Q1 2013 included also one-off
costs amounted to 92 thousand euros.
The sales in Skano Pärnu fibreboard factory (incl. Isotex) was 1,8 mil. Euros,
increased as compared to the respective period last year by 3%, the operating
loss of the first quarter was 135 thousand euros compared with the operating
loss 26 thousand euros last year.
The turnover of Skano Püssi fibreboard factory was 591 thousand euros,
representing 19% decrease in the first quarter compared to the same period in
2012. Operating loss amounted to 212 thousand euros compared with the operating
loss 237 thousand euros last year. Due to weak demand Püssi factory was
operating at approximately of 50% of its capacity in the first quarter of 2013.
Sales have dropped in all regions except for Russia due to weak economic
situation in Europe and cold spring that has put off construction season.
Profitability of Fibreboard division was affected by very fragmented production
portfolio where high number of small size orders caused low production
efficiency and high COGS. The priority of the management of the company is
continuously to ensure the sales of the production of Skano Püssi fibreboard
factory in order to guarantee the maximum production capacity and efforts are
taken in this direction on an on-going basis.
The turnover of Skano furniture factory in Pärnu decreased in the first quarter
by 5% and amounted to 1 676 thousand euros. The operating profit of the first
quarter was 33 thousand euros as in 2012 the operating profit of the same
period was 120 thousand euros. Sales in the first quarter of 2013 decreased in
all regions (except for sales to the subsidiary) due to weak demand of foreign
markets. The company is seeking new sale’s possibilities in the current markets
but going into totally new markets is a substantial direction for us. For that
reason a Western Europe sales manager was hired from outside Estonia.
The turnover of Skano furniture retail chain decreased by 1% as compared to the
same period last year being 549 thousand euros and the operating profit was 59
thousand euros compared with the operating loss 5 thousand euros in the first
quarter last year. Current year operating profit contains also profit from
currency exchange rate of hryvnia 45 thousand euros. Retail sale increased in
Estonia but decreased in other regions. In order to better operate the Baltic
retail sales changes in the structure were made at the end of the first quarter
in 2013 where Estonia current retail sales manager started to run the whole
Baltic retail sales. The sales of Skano Group AS own furniture still forms a
considerable part of the retail sale and it enables the furniture factory to
operate much more profitably than it would be possible without its own retail
chain.
INCOME STATEMENT
Consolidated net sales of the first quarter in 2013 was 4.4 mil. euros (4.6
mil. euros in same period of 2012) representing a 4% decrease on the first
quarter compared to Q1 2012. The Group’s gross margin in the first quarter of
2013 was 11.9% compared to 13.7% in the first quarter of 2012. Consolidated
operating loss amounted to 226 thousand euros (operating loss 99 thousand euros
from main activities in same period 2012). The consolidated operating margin of
net sales was -6% (-2% from main activities in Q1 2012).
Consolidated net loss amounted to 312 thousand euros (compared to net loss 164
thousand euros in Q1 2012), and the net margin was -7% (-4% in Q1 2012).
POSITION OF FINANCIAL STATEMENT
As of 31.03.2013 the total assets of Skano Group AS amounted to 15.5 mil. euros
(31.03.2012: 16.3 mil. euros). The liabilities of the company accounted for
53.8% (31.03.2012: 53.9%) thereof, i.e. 8.3 mil. euros (31.03.2012: 8.8 mil.
euros).
Receivables and prepayments have decreased by 0.2 mil. euros i.e. 9% increase
with 12 months. The reason of decrease of receivables was smaller sale of the
period and tighter debtor policy applied in the company.
Inventories remained at the same level compared to last year, amounting to 3.3
mil. euros on 31.13.2013. (31.03.2013: 3.3 mil. euros). Property, plant and
intangibles decreased by 0.6 mil. euros mainly as a result of depreciation.
Short-term loans decreased by 0.1 mil. euros and amounted to 1.4 mil. euros in
31.03.2013 (31.03.2012: 1.5 mil. euros). Supplier payables, tax liabilities,
other payables, including payables to employees, and provisions amounted to 2.3
mil. euros (31.03.2012: 2.5 mil. euros). Current and non-current liabilities
decreased by 0.5 mil. euros to 8.3 mil. euros (31.03.2012: 8.8 mil.
euros).DIVISIONAL REVIEW:
NET SALES BY BUSINESS SEGMENTS
th EUR % of net sales
-----------------------------------------------------------
Q1 2013 Q1 2012 Q1 2013 Q1 2012
-----------------------------------------------------------
Skano Fibreboard 2,462 2,485 56.5% 54.5%
-----------------------------------------------------------
Skano Furniture factory 1,676 1,757 38.4% 38.6%
-----------------------------------------------------------
Skano Furniture retail 549 553 12.6% 12.1%
-----------------------------------------------------------
Elimination (326) (236) (7.5%) (5.2%)
-----------------------------------------------------------
TOTAL 4,361 4,559 100.0% 100.0%
-----------------------------------------------------------
NET SALES BY GEOGRAPHICAL SEGMENTS
th EUR % of net sales
---------------------------------------------------
Q1 2013 Q1 2012 Q1 2013 Q1 2012
---------------------------------------------------
Finland 1,242 1,342 28.5% 29.4%
---------------------------------------------------
Russia 1,230 1,267 28.2% 27.8%
---------------------------------------------------
Estonia 621 564 14.2% 12.4%
---------------------------------------------------
Great Britain 373 455 8.6% 10.0%
---------------------------------------------------
Netherlands 215 133 4.9% 2.9%
---------------------------------------------------
Ukraine 185 204 4.2% 4.5%
---------------------------------------------------
Latvia 120 141 2.8% 3.1%
---------------------------------------------------
Sweden 96 126 2.2% 2.8%
---------------------------------------------------
Lithuania 95 133 2.2% 2.9%
---------------------------------------------------
Kazakhstan 41 0 0.9% 0.0%
---------------------------------------------------
Denmark 38 48 0.9% 1.1%
---------------------------------------------------
India 28 18 0.6% 0.4%
---------------------------------------------------
Csech republic 18 1 0.4% 0.0%
---------------------------------------------------
Other countries 59 127 1.4% 2.7%
---------------------------------------------------
TOTAL 4,361 4,559 100.0% 100.0%
---------------------------------------------------
Regarding the markets, turnover has increased in Estonia and Netherlands. The
percentage of turnover has decreased in most in Finland and Great Britain.
PROFIT BY BUSINESS SEGMENTS
th EUR Q1 2013 Q1 2012
-----------------------------------------
Skano Furniture factory 33 159
-----------------------------------------
Skano Furniture retail 59 (5)
-----------------------------------------
Skano Fibreboard (347) (264)
-----------------------------------------
Elimination (11) 11
-----------------------------------------
TOTAL (266) (99)
-----------------------------------------
Net financial costs (55) (67)
-----------------------------------------
Income tax (1) (7)
-----------------------------------------
NET PROFIT (322) (173)
-----------------------------------------
SKANO FIBREBOARD
The net sales of Skano Fibreboard in the first quarter of 2013 amounted to 2.46
mil. euros and operating loss to 347 thousand euros. In the same period last
year, the turnover of the division totaled to 2.49 mil. euros and the operating
loss from main activities 264 thousand euros. Sales have dropped in all regions
except for Russia due to weak economic situation in Europe and cold spring that
has put off construction season. The biggest drop in sales in the first quarter
compare to last year took place in Great Britain and Finland, 18% and 7%
respectively. Sales in Netherlands and Russia grew most, 62% and 11%
respectively. Profitability was affected by very fragmented production
portfolio where high number of small size orders caused low production
efficiency and high COGS.
NET SALES BY GEOGRAPHICAL SEGMENTS
th EUR % of net sales
---------------------------------------------------
Q1 2013 Q1 2012 Q1 2013 Q1 2012
---------------------------------------------------
Finland 632 680 25.7% 27.4%
---------------------------------------------------
Russia 472 427 19.2% 17.2%
---------------------------------------------------
Great Britain 373 455 15.1% 18.3%
---------------------------------------------------
Estonia 354 362 14.4% 14.6%
---------------------------------------------------
Netherlands 215 133 8.7% 5.4%
---------------------------------------------------
Sweden 96 126 3.9% 5.1%
---------------------------------------------------
Latvia 64 68 2.6% 2.7%
---------------------------------------------------
Denmark 38 48 1.5% 1.9%
---------------------------------------------------
India 28 18 1.1% 0.7%
---------------------------------------------------
Ukraine 19 27 0.8% 1.1%
---------------------------------------------------
Lithuania 19 21 0.8% 0.8%
---------------------------------------------------
Other countries 77 120 3.1% 4.8%
---------------------------------------------------
Intragroup 75 0 3.1% 0,0%
---------------------------------------------------
TOTAL 2,462 2,485 100.0% 100.0%
---------------------------------------------------
The biggest growth has been in sales to Russia and Netherlands. The percentage
of sales into Finland decreased.
th EUR Net sales Profit
--------------------------------------------------------------------------
Q1 2013 Q1 2012 Q1 2013 Q1 2012
--------------------------------------------------------------------------
Pärnu Fibreborad factory 1,235 1,230 (193) (75)
--------------------------------------------------------------------------
Püssi Fibreboard factory 591 733 (212) (237)
--------------------------------------------------------------------------
Pärnu interior boards factory (Isotex) 561 521 58 49
--------------------------------------------------------------------------
Not allocated 75 1 0 (1)
--------------------------------------------------------------------------
TOTAL 2,462 2,485 (347) (264)
--------------------------------------------------------------------------
The net sales of the Pärnu Fibreboard factory and interior board’s line
increased 3% in the first quarter of 2013 compared to the same quarter of 2012
and amounted to 1.8 mil. euros.
The turnover of Püssi fibreboard factory amounted to 591 thousand euros and
operating loss amounted to 212thousand euros. The main question is still weak
sales volumes of Püssi Fibreboard factory. In the first quarter Püssi factory
was operated at 50% of its capacity.
It is also important to note that due to high fixed costs, the factory must be,
for a profitable outcome, operated at as high capacity as possible, which shall
ensure a lower average cost of the product. Presently, the cost price
considerably higher than the optimum is greatly caused by technological
standstills and reconstruction of equipment in order to ensure better
efficiency.
S KANO FURNITURE
FURNITURE RETAIL SALES
Skano Group AS retail business is operated by a private limited company Skano
Furniture OÜ and its subsidiaries in Latvia, Lithuania and Ukraine. Skano has
totally 9 stores in Tallinn (2), Pärnu, Riga, Vilnius, Kiev, Donetsk, Kharkiv
and Dnipropetrovs’k at the end of the first quarter in 2013.
RETAIL SALES BY COUNTRIES
th EUR % of net sales Number of stores
-----------------------------------------------------------------
Q1 2013 Q1 2012 Q1 2013 Q1 2012 31.03.13 31.03.12
-----------------------------------------------------------------
Estonia 251 191 45.7% 34.5% 3 3
-----------------------------------------------------------------
Latvia 56 73 10.2% 13.2% 1 1
-----------------------------------------------------------------
Lithuania 76 112 13.8% 20.3% 1 1
-----------------------------------------------------------------
Ukraine 166 177 30.3% 32.0% 4 5
-----------------------------------------------------------------
TOTAL 549 553 100.0% 100.0% 9 10
-----------------------------------------------------------------
The furniture retail sale has reached to the profitable sales level, and it
results with profit 59 thousand euros in the first quarter 2013. Profit from
currency exchange rate of hryvnia was 45 thousand euros. Retail sale increased
in Estonia but decreased in other regions. In order to better operate the
Baltic retail sales changes in the structure were made at the end of the first
quarter in 2013 where Estonia current retail sales manager started to run the
whole Baltic retail sales.
FURNITURE PRODUCTION
The net sales of the Skano Furniture Factory in the first quarter amounted to
1.7 mil. euros and operating profit to 33 thousand euros. In the same period
last year, the turnover of the factory amounted to 1.8 mil. euros and the
profit to 159 thousand euros. As compared to the previous year the turnover of
the factory has decreased 81 thousand euros and the operating profit has
decreased 126 thousand euros. Sales in the first quarter of 2013 decreased in
all regions (except for sales to the subsidiary) due to weak demand of foreign
markets. The company is seeking new sale’s possibilities in the current markets
but going into totally new markets is a substantial direction for us. For that
reason a Western Europe sales manager was hired from outside Estonia.
FURNITURE FACTORY SALES BY COUNTRIES
th EUR % of net sales
---------------------------------------------------
Q1 2013 Q1 2012 Q1 2013 Q1 2012
---------------------------------------------------
Russia 758 840 45.2% 47.8%
---------------------------------------------------
Finland 610 662 36.4% 37.7%
---------------------------------------------------
Kazakhstan 41 0 2.4% 0.0%
---------------------------------------------------
Estonia 16 11 1.0% 0.6%
---------------------------------------------------
Other countries 0 8 0.0% 0.5%
---------------------------------------------------
Subsidiaries 251 236 15.0% 13.4%
---------------------------------------------------
TOTAL 1,676 1,757 100.0% 100.0%
---------------------------------------------------
FORECAST AND DEVELOPMENT
SKANO FIBREBOARD. The main production line of Pärnu Fibreboard factory is
operating at a normal capacity in the second quarter of 2013 but the period
also includes yearly 3 weeks planned maintenance repair cycle which can be
executed only during warm months. Production lines of Isotex interior finishing
boards are also operated at a normal capacity. Due to low demand Püssi factory
is operating at approximately of 70% of its capacity at the beginning of the
second quarter but by the end of the second quarter we expect to run the
factory already at 80-90% of its capacity. The sales of Skano Fibreboard in the
second quarter will probably exceed the sales of last year.
In spite of weak demand of foreign markets and economic situation in Europe we
still are moderately optimistic about sales growth for H2 2013, mostly from
Russia and Finland. Russia’s sales volumes have been growing steadily over the
past years and we expect this to continue in 2013. Decrease of our sales in
Finland and in other regions in the first quarter was caused by deteriorated
economic situation in Europe, which we don’t expect to improve during 2013. We
have changed our distribution partner at the end of 2012 and plan to
significantly add to our marketing efforts in Finland in 2013 which should
increase sales from account of new clients. We have also signed a strategic
cooperation agreement in Finland, which if implemented successfully, will allow
us to increase the output of Püssi factory significantly in second half of
2013. We also expect this to help our Pärnu factory to reach higher capacity
utilization and as a result of this, expect the whole production process to
become more efficient, lead to lower average production price and higher sales
volumes in H2 2013
SKANO FURNITURE RETAIL SALES. We expect retail sale in the second quarter of
2013 to exceed slightly the sale of last year.
SKANO FURNITURE FACTORY.In the second quarter of 2013 we expect small decrease
in sales of the furniture factory compared to the same period in 2012 because
of the deteriorated economic situation in the near region. For the second half
of 2013 we already expect small support from sales to new markets and namely to
Great Britain as after successful feedback from the local furniture spring fair
we have agreed with our new English partner the further action plan and
representation of our furniture in Great Britain. In addition to Great Britain
we also seek for possibilities to enter into other markets of Western Europe in
larger volumes.
SKANO GROUP AS.
At the beginning of May EAS Enterprise Estonia approved Skano Group AS
application for export development support for 2013 and 2014 amounting to 100
thousand euros.
FINANCIAL HIGHLIGHTS
th EUR 3 m 2013 3 m 2012 3 m 2011
---------------------------------------------------
Income statement
---------------------------------------------------
Revenue 4,361 4,559 4,024
---------------------------------------------------
EBITDA -37 147 280
---------------------------------------------------
EBITDA margin (0.8%) 3.2% 7.0%
---------------------------------------------------
Operating profit (266) (99) 129
---------------------------------------------------
Operating margin (6.1%) (2.2%) 3.2%
---------------------------------------------------
Net profit (322) (173) 102
---------------------------------------------------
Net margin (7.4%) (3.8%) 2.5%
---------------------------------------------------
----------------------------------------------------
Balance sheet (31.03)
---------------------------------------------------
Total assets 15,511 16,337 9,568
---------------------------------------------------
Return on assets (2.1%) (1.1%) 1.1%
---------------------------------------------------
Equity 7,170 7,529 5,448
---------------------------------------------------
Return on equity (4.5%) (2.3%) 1.9%
---------------------------------------------------
Debt-to-equity ratio 53.8% 53.9% 43.1%
---------------------------------------------------
----------------------------------------------------
Share (31.03)
---------------------------------------------------
Closing price 1.19 1.57 1.50
---------------------------------------------------
Earnings per share (0.07) (0.04) 0.02
---------------------------------------------------
Price-earnings ratio (17.00) (39.25) 75.00
---------------------------------------------------
Book value of a share 1.59 1.67 1.21
---------------------------------------------------
Market to book ratio 0.75 0.94 1.24
---------------------------------------------------
Market capitalization 5,354 7,064 6,749
---------------------------------------------------
EBITDA = Earnings before interest, taxes, depreciation and amortization
EBITDA margin = EBITDA / Revenue
Operating margin = Operating profit / Revenue
Net margin = Net profit / Revenue
Return on assets = Net profit / Total assets
Return on equity = Net profit / Equity
Debt-to-equity ratio = Liabilities / Total assets
Earnings per share = Net profit / Total shares
Price-earnings ratio = Closing price / Earnings per share
Book value of a share = Equity / Total shares
Market to book ratio = Closing price / Book value of a share
Market capitalization = Closing price * Total shares
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
th EUR 31.03.2013 31.12.2012 31.03.2012
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Cash and bank 137 158 204
----------------------------------------------------------------------------
Receivables and prepayments (Note 1) 1,925 1,792 2,126
----------------------------------------------------------------------------
Inventories (Note 2) 3,347 3,303 3,336
----------------------------------------------------------------------------
Total current assets 5,409 5,253 5,666
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Investment property (Note 3) 185 185 185
----------------------------------------------------------------------------
Tangible fixed assets (Note 4) 9,896 10,010 10,471
----------------------------------------------------------------------------
Intangible fixed assets (Note 5) 21 23 15
----------------------------------------------------------------------------
Total fixed assets 10,102 10,218 10,671
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TOTAL ASSETS 15,511 15,471 16,337
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Debt obligations (Note 6) 1,444 1,845 1,519
----------------------------------------------------------------------------
Payables and prepayments (Note 7) 2,324 1,923 2,552
----------------------------------------------------------------------------
Short-term provisions (Note 8) 9 12 8
----------------------------------------------------------------------------
Total current liabilities 3,777 3,780 4,079
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Non-current debt obligations (Note 6) 4,328 3,973 4,490
----------------------------------------------------------------------------
Non-current provisions (Note 8) 236 236 239
----------------------------------------------------------------------------
Total non-current liabilities 4,564 4,209 4,729
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Total liabilities 8,341 7,989 8,808
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Share capital at nominal value (Note 9) 2,699 2,699 2,699
----------------------------------------------------------------------------
Issue premium 364 364 364
----------------------------------------------------------------------------
Statutory capital reserve 288 288 288
----------------------------------------------------------------------------
Currency translation (11) (21) (2)
----------------------------------------------------------------------------
Retained profits 4,152 4,353 4,353
----------------------------------------------------------------------------
Net profit (loss) for the year (Note 10) (322) (201) (173)
----------------------------------------------------------------------------
Total equity 7,170 7,482 7,529
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 15,511 15,471 16,337
----------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
th EUR 1st Q 2013 1st Q 2012
---------------------------------------------------------------
---------------------------------------------------------------
---------------------------------------------------------------
RETURN ON SALES (Note 11) 4,361 4,559
---------------------------------------------------------------
---------------------------------------------------------------
Cost of production sold (3,841) (3,934)
---------------------------------------------------------------
---------------------------------------------------------------
Gross profit 520 625
---------------------------------------------------------------
---------------------------------------------------------------
Marketing expenses (580) (600)
---------------------------------------------------------------
General administrative expenses (207) (110)
---------------------------------------------------------------
Other income 42 36
---------------------------------------------------------------
Other expenses (41) (50)
---------------------------------------------------------------
---------------------------------------------------------------
Operating profit (loss) (Note 11) (266) (99)
---------------------------------------------------------------
Financial income and financial expenses (55) (67)
---------------------------------------------------------------
---------------------------------------------------------------
Profit (loss) before taxes (321) (166)
---------------------------------------------------------------
Prepaid income tax (1) (7)
---------------------------------------------------------------
---------------------------------------------------------------
NET PROFIT (LOSS) FOR THE PERIOD (322) (173)
---------------------------------------------------------------
---------------------------------------------------------------
Basic earnings per share (Note 10) (0.07) (0.04)
---------------------------------------------------------------
Diluted earnings per share (Note 10) (0.07) (0.04)
---------------------------------------------------------------
---------------------------------------------------------------
Other comprehensive income:
---------------------------------------------------------------
Currency translation differences 10 9
---------------------------------------------------------------
---------------------------------------------------------------
TOTAL COMPREHENSIVE INCOME (312) (164)
---------------------------------------------------------------
The planned time of publishing of interim report of the second quarter 2013 is
week 34 (19-23 Augugst 2013)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
th EUR 31.03.2013 31.12.2012 31.03.2012
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Cash and bank 137 158 204
----------------------------------------------------------------------------
Receivables and prepayments (Note 1) 1,925 1,792 2,126
----------------------------------------------------------------------------
Inventories (Note 2) 3,347 3,303 3,336
----------------------------------------------------------------------------
Total current assets 5,409 5,253 5,666
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Investment property (Note 3) 185 185 185
----------------------------------------------------------------------------
Tangible fixed assets (Note 4) 9,896 10,010 10,471
----------------------------------------------------------------------------
Intangible fixed assets (Note 5) 21 23 15
----------------------------------------------------------------------------
Total fixed assets 10,102 10,218 10,671
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TOTAL ASSETS 15,511 15,471 16,337
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Debt obligations (Note 6) 1,444 1,845 1,519
----------------------------------------------------------------------------
Payables and prepayments (Note 7) 2,324 1,923 2,552
----------------------------------------------------------------------------
Short-term provisions (Note 8) 9 12 8
----------------------------------------------------------------------------
Total current liabilities 3,777 3,780 4,079
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Non-current debt obligations (Note 6) 4,328 3,973 4,490
----------------------------------------------------------------------------
Non-current provisions (Note 8) 236 236 239
----------------------------------------------------------------------------
Total non-current liabilities 4,564 4,209 4,729
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Total liabilities 8,341 7,989 8,808
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Share capital at nominal value (Note 9) 2,699 2,699 2,699
----------------------------------------------------------------------------
Issue premium 364 364 364
----------------------------------------------------------------------------
Statutory capital reserve 288 288 288
----------------------------------------------------------------------------
Currency translation (11) (21) (2)
----------------------------------------------------------------------------
Retained profits 4,152 4,353 4,353
----------------------------------------------------------------------------
Net profit (loss) for the year (Note 10) (322) (201) (173)
----------------------------------------------------------------------------
Total equity 7,170 7,482 7,529
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 15,511 15,471 16,337
----------------------------------------------------------------------------
The planned time of publishing of interim report of the second quarter 2013 is
week 34 (19-23 August 2013).
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
th EUR 1st Q 2013 1st Q 2012
---------------------------------------------------------------
---------------------------------------------------------------
---------------------------------------------------------------
RETURN ON SALES (Note 11) 4,361 4,559
---------------------------------------------------------------
---------------------------------------------------------------
Cost of production sold (3,841) (3,934)
---------------------------------------------------------------
---------------------------------------------------------------
Gross profit 520 625
---------------------------------------------------------------
---------------------------------------------------------------
Marketing expenses (580) (600)
---------------------------------------------------------------
General administrative expenses (207) (110)
---------------------------------------------------------------
Other income 42 36
---------------------------------------------------------------
Other expenses (41) (50)
---------------------------------------------------------------
---------------------------------------------------------------
Operating profit (loss) (Note 11) (266) (99)
---------------------------------------------------------------
Financial income and financial expenses (55) (67)
---------------------------------------------------------------
---------------------------------------------------------------
Profit (loss) before taxes (321) (166)
---------------------------------------------------------------
Prepaid income tax (1) (7)
---------------------------------------------------------------
---------------------------------------------------------------
NET PROFIT (LOSS) FOR THE PERIOD (322) (173)
---------------------------------------------------------------
---------------------------------------------------------------
Basic earnings per share (Note 10) (0.07) (0.04)
---------------------------------------------------------------
Diluted earnings per share (Note 10) (0.07) (0.04)
---------------------------------------------------------------
---------------------------------------------------------------
Other comprehensive income:
---------------------------------------------------------------
Currency translation differences 10 9
---------------------------------------------------------------
---------------------------------------------------------------
TOTAL COMPREHENSIVE INCOME (312) (164)
---------------------------------------------------------------
The planned time of publishing of interim report of the second quarter 2013 is
week 34 (19.-23. August 2013)
Martin Kalle
CFO
+372 447 8331
[email protected]
www.skano.com