Market announcement
AS Silvano Fashion Group
LEI code
529900JNG41RRJKJYB65
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
4159
Attachments
Submission date and time
13.08.2013 18:30:01
Content of announcement in Estonian
Title
2013. aasta II kvartali ja 6 kuu konsolideeritud vahearuanne (auditeerimata)
Message
Tallinn, 2013-08-13 17:30 CEST (GLOBE NEWSWIRE) --
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Valikulised finantsnäitajad</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Kontserni 2013. aasta 6 kuu (võrrelduna 2012. aasta 6 kuuga) ja
30.06.2013 (võrrelduna 31.12.2012) valikulised finantsnäitajad on
järgmised:</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">6 kuud <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6 kuud <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Muutus
style
2013</span></span>
2012</span></span>
</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">tuha
ndetes
eurod
es</sp
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
----------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">68 947</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">65 501</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">5,3%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Müüg
itulu<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">12 131</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">15 424</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-21,3%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">EBIT
DA</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">8 335</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">10 974</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-24,0%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Arua
ndeper
ioodi
puhas
kasum<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">7 616</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">9 661</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-21,2%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Puha
skasum
,
emaet
tevõtt
e
omani
ke
osa</
span><
/span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">0,19 <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">0,25 <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-21,2%
style
6 658</span></span>
2 323</span></span>
186,7%</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Kasu
m
aktsi
a
kohta
(euro
des)
Äriteg
evuse
rahav
oog
perio
odil</
span><
/span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">30.06.2013</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">31.12.2012</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Muutus
style
</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">tuha
ndetes
eurod
es</sp
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">86 686</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">75 837</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">14,3%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Vara
d
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">63 661</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">55 847</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">14,0%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Käib
evarad
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">55 723</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">51 396</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">8,4%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Omak
apital
kokku
,
emaet
tevõtt
e
omani
ke
osa</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">137</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">47</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">191,5%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Laen
ukohus
tused<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">20 408</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">16 260</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">25,5%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Raha
ja
raha
ekviv
alendi
d</spa
n></sp
an>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">6 kuud <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6 kuud <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Muutus
style
2013</span></span>
2012</span></span>
</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Rent
aablus
analüü
s,
%</sp
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">33,9</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">38,8</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-12,7%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Brut
okasum
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">17,6</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">23,5</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-25,3%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">EBIT
DA</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">12,1</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">16,8</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-27,8%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Puha
skasum
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">11,0</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">14,7</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-25,1%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Puha
skasum
,
emaet
tevõtt
e
omani
ke
osa</
span><
/span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">30.06.2013</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">31.12.2012</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Muutus</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Fina
ntssuh
tarvud
,
%</sp
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">15,0</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">32,2</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-53,4%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">ROA<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">22,7</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">50,9</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-55,5%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">ROE<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">8,6</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">5,5</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">55,6%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Hinn
a/
kasum
i
suhe<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">3,6</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">3,6</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">1,3%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Lühi
ajalis
te
kohus
tuste
katte
kordaj
a</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">2,3</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2,1</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">7,9%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Likv
iidsus
kordaj
a</spa
n></sp
an>
<span style="font-family:Arial, Helvetica, sans-serif;font-size:10pt;">
</span><span style="font-family:Arial, Helvetica,
sans-serif;font-size:10pt;">Konsolideeritud finantsseisundi aruanne</span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">30.06.2013</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">31.12.2012</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">tuha
ndetes
eurod
es</sp
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
----------------------------------------------------------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">VARA
D</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Käib
evara<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">20 408</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">16 260</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Raha
ja
panga
kontod
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">430</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">243</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Ette
maksed
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">18 745</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">14 746</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Nõud
ed
ostja
te
vastu
ja
muud
nõude
d</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">24 078</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">24 598</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Varu
d</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">63 661</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">55 847</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Käib
evara
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Põhi
vara</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">1</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Pika
ajalis
ed
nõude
d</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">140</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">164</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Inve
steeri
ngud
sidus
ettevõ
tetess
e</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">520</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">492</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Muud
inves
teerin
gud</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">214</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">231</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Edas
ilükku
nud
tulum
aksuva
ra</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">602</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">443</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Imma
teriaa
lne
põhiv
ara</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">1 690</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1 618</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Kinn
isvara
invest
eering
ud</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">19 858</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">17 041</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Mate
riaaln
e
põhiv
ara</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">23 025</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">19 990</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Põhi
vara
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">86 686</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">75 837</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">VARA
D
KOKKU
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">KOHU
STUSED
JA
OMAKA
PITAL<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Lühi
ajalis
ed
kohus
tused<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">137</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">47</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Laen
ukohus
tused<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">15 628</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">11 171</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Võla
d
tarni
jatele
ja
muud
võlad
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">1 700</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1 008</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Maks
uvõlad
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">17 465</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">12 226</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Lühi
ajalis
ed
kohus
tused
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Pika
ajalis
ed
kohus
tused<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">2 268</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2 162</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Edas
ilükku
nud
tulum
aksuko
hustus
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">2 268</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2 162</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Pika
ajalis
ed
kohus
tused
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">19 733</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">14 388</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Kohu
stused
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Omak
apital
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">15 760</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">15 760</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Akts
iakapi
tal</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">13 822</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">13 822</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Ülek
urss</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-20</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-20</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Omaa
ktsiad
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">1 306</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1 306</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Kohu
stusli
k
reser
vkapit
al</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-586</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">15</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Real
iseeri
mata
kursi
vahed<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">25 441</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">20 513</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Jaot
amata
kasum
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">55 723</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">51 396</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Omak
apital
kokku
,
emaet
tevõtt
e
omani
ke
osa</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">11 230</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">10 053</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Mitt
ekontr
olliv
osalu
s
omaka
pitali
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">66 953</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">61 449</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Omak
apital
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">86 686</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">75 837</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">OMAK
APITAL
JA
KOHUS
TUSED
KOKKU
</span
></spa
n>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Konsolideeritud kasumiaruanne</span></span><span
style="font-family:Arial, Helvetica, sans-serif;font-size:10pt;"> </span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">I kvartal <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">II kvartal <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">6 kuud <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6 kuud <span
style
2013</span></span>
2012</span></span>
2013</span></span>
2012</span></span> style=
="font
"font-
-size:
size:1
10pt;"
0pt;">
><span
<span
style
style=
="font
"font-
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family
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sans-s
serif;
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">tuha
>
ndetes
</span
eurod
></spa
es</sp
n>
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
---------------------------------------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">36 888</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">36 413</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">68 947</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> 65 501</span></span> <span
style
style=
="font
"font-
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size:1
10pt;"
0pt;">
><span
<span
style
style=
="font
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">Müüg
>
itulu<
</span
/span>
></spa
</span
n>
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-23 691</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-23 103</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-45 564</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-40 062</span></span> <span
style
style=
="font
"font-
-size:
size:1
10pt;"
0pt;">
><span
<span
style
style=
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">Müüd
>
ud
</span
tooda
></spa
ngu
n>
kulu<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">13 197</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">13 310</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">23 383</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">25 439</span></span> <span
style
style=
="font
"font-
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size:1
10pt;"
0pt;">
><span
<span
style
style=
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">Brut
>
okasum
</span
</span
></spa
></spa
n>
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span> <span
style
style=
="font
"font-
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size:1
10pt;"
0pt;">
><span
<span
style
style=
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>
</spa
</span
n></sp
></spa
an>
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-4 141</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-3 802</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-8 385</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-6 947</span></span> <span
style
style=
="font
"font-
-size:
size:1
10pt;"
0pt;">
><span
<span
style
style=
="font
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">Turu
>
stusku
</span
lud</s
></spa
pan></
n>
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-1 746</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-2 251</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-3 404</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-4 020</span></span> <span
style
style=
="font
"font-
-size:
size:1
10pt;"
0pt;">
><span
<span
style
style=
="font
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">Üldh
>
aldusk
</span
ulud</
></spa
span><
n>
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">126</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">207</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">434</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">559</span></span> <span
style
style=
="font
"font-
-size:
size:1
10pt;"
0pt;">
><span
<span
style
style=
="font
"font-
-famil
family
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sans-
sans-s
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">Muud
>
äritu
</span
lud</s
></spa
pan></
n>
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-769</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-65</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-1 158</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-788</span></span> <span
style
style=
="font
"font-
-size:
size:1
10pt;"
0pt;">
><span
<span
style
style=
="font
"font-
-famil
family
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">Muud
>
äriku
</span
lud</s
></spa
pan></
n>
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">6 667</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">7 399</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">10 870</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">14 243</span></span> <span
style
style=
="font
"font-
-size:
size:1
10pt;"
0pt;">
><span
<span
style
style=
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
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sans-serif;">-852</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-595</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
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valuu
n>
takurs
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muutu
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</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">151</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">126</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">408</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
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style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-187</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-154</span></span> <span
style
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
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sans-serif;"> </span></span> <span style="font-size:10pt;"><span
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
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style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">119</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;"> <span
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luse
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</span
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n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">6 243</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6 792</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">10 691</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
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style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-1 843</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-2 655</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
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style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">4 949</span></span> <span
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
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style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-107</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">299</span></span> <span
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rahal
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">4 501</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">4 842</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">8 335</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">4 089</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">4 328</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">7 616</span></span> <span
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ke
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">412</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">514</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">719</span></span> <span
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
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style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">0,11</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;"> <span
style
0,19</span></span>
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aktsi
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a
n>
kohta
emaet
tevõtt
e
omani
ke
osast
kasum
is,
nii
tava
kui
lahus
tatud
(euro
des)</
span><
/span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Ärikeskkond</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Silvano Fashion Group on oma tootebrändide portfelliga tunnustatud
turuliider naistepesu segmendis nii Venemaal, Valgevenes kui ka Ukrainas,
lisaks omab kontsern tugevat positsiooni teistes, vene keele taustaga riikides
(sh. Kasahstanis ja Moldovas) ning on ka tunnustatud tegija Balti
jaeturul.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Vastavalt mitmete pesutootjate informatsioonile mõjutas külm ilm
müüke 1 kvartalis, kuid me näeme, et 2 kvartali müügid on vähendanud ilma
arvele kirjutatud põhjuste mõju. Mida me tegelikult nägime 2 kvartali jooksul
oli laojääkide vähenemine nii kontserni siseselt (Milavitsa ja Lauma brändid),
kuid samuti laovarude vähenemist meie frantsiisipartneritel, mis parandasid
Silvano Fashion Group debitoorse võlgnevuse saldot. Üldiselt kujunes 2013 I
poolaasta müük koguseliselt plaanidest mõneti nõrgemaks, kuid rahalises müügis
ületas meie ootusi.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Analüüsides põhjalikumalt meie põhiturge,on näha, et müügid
Venemaal on jäänud võrreldavale tasemele 2012 aasta I poolaastaga. Meie
kohalikud konkurendid selles regioonis on vähendanud oma optimismi ning sellega
seonduvaid kasvuplaane käesolevaks aastaks. Viimase 6 kuu jooksul on Venemaa
keskpanga refinantseerimismäär püsinud kõrge (keskpank otsustas 10. juunil
jätta peamised määrad muutmata viidates suurenenud inflatsioonisurvele), see
aga toob kaasa kõrgema laenukulu ning seonduvalt madalama sisetarbimise
Venemaal. Lisaks sellele on Venemaal märgata erasektori hoiuste kasvu, see
omakorda aga viitab ettevaatlikumale tarbimisele ebakindluse olukorras. Sellele
vaatamata läheb meie põhibrändidel – Milavitsal ja Lauma Lingerie’l sellises
keskkonnas võrdlemisi hästi. Kui vaadata sügavamalt jaekaubanduse
struktuurimuutusi (uute kaubanduskeskuste avamine, sealhulgas Vene
regioonides), siis see selgitab meie jätkuvat kaupluste arvu kasvu nimetatud
riigis.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Tulemuste põhiselt on Venemaa jätkuvalt meie põhiturg nii
kogumüügi kui ka kaupluste arvu poolest (375 kauplust kokku perioodi lõpuks),
müügimaht ulatus 2013 aasta esimeses pooles 41 288 tuhande euroni võrreldes 39
813 tuhande euro suuruse müügiga eelmise aasta samal perioodil. Vaadates edasi,
tähendab raskendatud ligipääs laenurahale seoses kõrgemate intressimääradega
ning tõenäoliselt konservatiivsem pankade laenupoliitika meie jaoks nõrgemat
eratarbimist lähitulevikus.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Valgevene tarbimine jätkab soodsal kursil, mida toetab tugev
rahvusvaluuta ning kasvanud eratarbimise maht. Tänu kontserni enda poolt
opereeritavale jaekaupluste ketile oleme saavutanud parema ärimarginaali nii
kohaliku valuuta kui ka euro arvestuses. Kuna tegemist on meie jaoks suuruselt
teise (kodu)turuga, siis selle mõju meie kasumiaruandele on märkimisväärne.
Lihtsustatult, täna müüme me riigis rohkem nii tükkides arvestatuna kui ka
rahalises vääringus eelmiste perioodidega võrrelduna. Valgevenes opereerib
kontsern koos frantsiisipartneritega kokku 56 kauplust. Meie müük Valgevenes
ulatus 2013 aasta I pooles 16 558 tuhande euroni võrrelduna 15 516 tuhande euro
suuruse müügiga eelmise aasta samal perioodil. Valgevene sisemajanduse
kogutoodangu kasv 2013 esimesel poolaastal võrreldes eelmise aasta esimese
poolaastaga oli 1,4% vastavalt Belstat andmetele.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Ukraina, Kasahstan ja Moldova näitavad jätkuvalt head dünaamikat
2013 aasta I pooles. Kontsern suurendas oma rahalist müüki, kaupluste arvu kui
ka mahupõhist müüki kõigis kolmes riigis. Võttes arvesse Kasahstani ja Moldova
olulisust meie kasvumudelis, planeerib kontserni juhtkond pühendada nendele
regioonidele lähiajal ka rohkem tähelepanu. Ukrainas moodustab Lauma Lingerie
ja Milavitsa frantsiisikaupluste koguarv juba 92 ühikut ning kontsern müüs 2013
aasta I pooles seal kokku 5 159 tuhande euro eest kaupa võrreldes 4 015
tuhande euroga eelmise aasta võrreldaval perioodil.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Balti riikide majandustel läheb jätkuvalt hästi. Swedbank’i
analüüsile tuginedes ületab 3 Balti riigi majanduskasv Euroopa Liidu keskmist,
Eesti, Läti ja Leedu vastavad SKP kasvuprognoosid on 3,3%, 4,3% ja 4,0%.
Kontsern opereerib regioonis otse ja frantsiisipartnerite vahendusel kokku 39
kauplusega. Kontserni kogumüük Balti riikides 2013 I poolaastal moodustas 1 292
tuhat eurot.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Kaupluste avamise osas 2013 I poolaastal moodustas avamiste
netoarv (sisaldab kaupluste avamist kui ka kaupluste sulgemist, peaasjalikult
seoses ümberpaiknemistega) Milavitsa brändi all kokku 46 kauplust ning Lauma
Lingerie brändi all kokku 6 kauplust. Kontsern opereerib nii ise kui ka
frantsiisipartnerite vahendusel kokku 636 kauplust (neto juurdekasv 52 kaupluse
võrra võrreldes 2012 aasta lõpuga). Kontserni müügigeograafia seoses Milavitsa
ja Lauma Lingerie frantsiisipartnerite võrgustikuga katab juba enam kui 20
riiki.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Majandustulemused</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Devalvatsiooni positiivne mõju kuludele on kadunud seoses kasvanud
kulutustega tööjõule, allhankijatele ja kommunaalteenustele ning mõningal
määral ka Valgevenest hangitud materjalidele. Kontsern rakendab aruandluses
hüperinflatsiooni mõju Valgevenes toimunud majandustegevusele vastavalt IAS 29
standardile.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Kontserni 2013. aasta I poolaasta käive moodustas 68 947 tuhat
eurot, suurenedes eelmise aasta sama perioodiga võrreldes 5,3%. Hulgimüügi
kogukäive kasvas 4,0% võrra ja jaemüügi käive 12,2% võrra.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Kontserni brutorentaablus 2013. aasta II kvartalis paranes, mille
tulemusena I poolaasta tulemus moodustas 33,9%, eelmise aasta sama perioodi
vastav näitaja oli 38,8%. 2013. aasta I poolaasta konsolideeritud ärikasum
ulatus 10 870 tuhande euroni võrreldes 2012. aasta I poolaasta konsolideeritud
ärikasumiga summas 14 243 tuhat eurot. Konsolideeritud ärikasumi rentaablus oli
15,8% (2012. a I poolaasta: 21,7%).</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Emaettevõtte omanike osa 2013. aasta I poolaasta konsolideeritud
puhaskasumist ulatus 7 616 tuhande euroni, 2012. aasta I poolaasta vastav
näitaja oli 9 661 tuhat eurot; emaettevõtte omanike osa puhasrentaablusest oli
11% (2012. aasta I poolaasta: 14,7%).</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Finantsseisund</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Seisuga 30. juuni 2013 ulatus konsolideeritud varade maht 86 686
tuhande euroni, seega võrreldes seisuga 31. detsember 2012 moodustas kasv
14,3%.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Võrreldes 31. detsembriga 2012 kasvasid nõuded ostjate vastu 3 999
tuhande euro võrra ja moodustasid 2013. aasta 30. juuni seisuga 18 745 tuhat
eurot. Varude saldo vähenes 520 tuhande euro võrra moodustades 2013. aasta 30.
juuni seisuga 24 078 tuhat eurot. Ostjate tasumata arvete ja varude saldo
vähenemine vastas ärivaldkonna hooajatrendile.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Emaettevõtte omanike osa omakapitalis suurenes 4 327 tuhande euro
võrra ulatudes 2013. aasta 30. juuni seisuga 55 723 tuhande
euroni.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Lühiajalised kohustused suurenesid 2013. aasta I poolaastal 5 239
tuhande euro võrra. Lühi- ja pikaajalised laenukohustused suurenesid 90
tuhande euro võrra ulatudes 2013. aasta 30. juuni seisuga 137 tuhande
euroni.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Müügi struktuur</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Müük turgude lõikes</span></span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">6 kuud <span <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">6 kuud 2013 <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6 kuud 2012
style
2013</span></span> style= sans-serif;">Muutus</span></span>
style
% käibest</span></span>
% käibest</span></span>
="font
"font-
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10pt;"
><span
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ndetes
kuud
</spa
eurod
2012</
n></sp
es</sp
span><
an>
an></s
/span>
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-----------------------------------------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">41 288</span></span> <span <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1 475</span></span> <span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">59,9%</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">60,8%</span></span>
style
style=
style
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><span
<span
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>39
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maa</s
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</spa
pan></
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span>
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">16 558</span></span> <span <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1 042</span></span> <span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">24,0%</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">23,7%</span></span>
style
style=
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><span
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evene<
516</s
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>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">5 159</span></span> <span <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1 144</span></span> <span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">7,5%</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6,1%</span></span>
style
style=
style
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><span
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span>
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">1 292</span></span> <span <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-533</span></span> <span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">1,9%</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2,8%</span></span>
style
style=
style
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><span
<span
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i
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riigi
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an>
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">4 650</span></span> <span <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">318</span></span> <span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">6,7%</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6,6%</span></span>
style
style=
style
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><span
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">Muud
>4
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turud
332</s
</spa
</span
pan></
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></spa
span>
an>
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">68 947</span></span> <span <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">3 446</span></span> <span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">100,0%</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">100,0%</span></span>
style
style=
style
="font
"font-
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10pt;"
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><span
<span
><span
style
style=
style
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family
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y:Aria
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">Kokk
>65
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u</spa
501</s
</spa
n></sp
pan></
n></sp
an>
span>
an>
<span style="font-family:Arial, Helvetica, sans-serif;font-size:10pt;"> </span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Enamus 2013. aasta I poolaasta müügist on seotud Venemaaga, s.o 41
288 tuhat eurot, mis moodustas 59,9% kogukäibest. Müügimahult järgmine piirkond
oli Valgevene, kus käive ulatus 16 558 tuhande euroni, mis moodustas 24,0%
kogukäibest (nii jae- kui ka hulgimüük kokku). Muude turgude kogumüügist (4 650
tuhat eurot) peamise osa moodustas müük Kasahstanis ja Moldovas.</span></span>
<strong style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;
">Müük ärisegmentide lõikes
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">6 kuud <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6 kuud <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica, <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6 kuud 2013 <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">6 kuud 2012
style
2013</span></span>
2012</span></span>
sans-serif;">Muutus</span></span> style
% käibest</span></span>
%
käibest</span></span>
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
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-famil
-famil
y:Aria
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tica,
sans-
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serif;
">tuha
">
ndetes
</spa
eurod
n></sp
es</sp
an>
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-------------------------------------------------------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">57 562</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">55 <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">2 <span <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">83,5%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">84,5%</span></span>
style
332</span></span>
230</span></span> style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
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l,
l,
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serif;
serif;
">Hulg
">
imüük<
</spa
/span>
n></sp
</span
an>
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">11 183</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">9 <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">1 <span <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">16,2%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">15,2%</span></span>
style
966</span></span>
217</span></span> style
="font
="font
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-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
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Helve
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tica,
sans-
sans-
serif;
serif;
">Jaem
">
üük</s
</spa
pan></
n></sp
span>
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">202</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">203</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-1</span></span> <span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">0,3%</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">0,3%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
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Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Muud
">
tegev
</spa
usvald
n></sp
konnad
an>
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">68 947</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">65 <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">3 <span <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">100,0%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">100,0%</span></span>
style
501</span></span>
446</span></span> style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
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tica,
sans-
sans-
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serif;
">Kokk
">
u</spa
</spa
n></sp
n></sp
an>
an>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2013. aasta I poolaasta hulgimüügi tulu ulatus 57 562 tuhande
euroni, mis moodustas 83,5% kontserni kogu müügitulust (2012. aasta I
poolaasta: 84,5%). Peamised hulgimüügipiirkonnad olid Venemaa, Ukraina,
Valgevene, Kasahstan ja Moldova.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Kontserni 2013. aasta I poolaasta naistepesu jaemüügikäive
moodustas kokku 11 183 tuhat eurot, seega võrreldes eelmise aastaga oli kasv
12,2%.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">30. juuni 2013.a seisuga tegutses Milavitsa ja Lauma Lingerie
kaubamärkide all kokku 636 kauplust. Kontserni oma jaemüügiketid tegutsesid
Valgevenes ja Lätis. 2013. aasta I poolaasta lõpu seisuga opereeris kontsern 60
kauplusega. 2013. aasta 30. juuni seisuga tegutses Milavitsa tootemargi all 544
kauplust, mida haldasid Milavitsa äripartnerid Venemaal, Ukrainas, Moldovas,
Kasahstanis, Usbekistanis, Kõrgõzstanis, Lätis, Aserbaidžaanis, Armeenias,
Saksamaal, Lõuna-Aafrikas, Leedus, Eestis, Gruusias, Araabia Ühendemiraatides,
Iraanis, Sloveenias, Belgias ja Itaalias. Lisaks sellele tegutses 2013. aasta
30. juuni seisuga ka 32 Lauma Lingerie kauplust, mida haldasid Lauma Lingerie
äripartnerid Leedus, Lätis, Eestis, Valgevenes ja Albaanias. Lauma Lingerie
puhul kontsern ootab lähitulevikus uute kaupluste avamist
Venemaal.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Investeeringud</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Kontserni 2013 I poolaasta investeeringute kogumaht materiaalsesse
põhivarasse moodustas 3 085 tuhat eurot. Põhiosa investeeringutest tehti
logistiliste võimsuste suurendamiseks ning tootmise efektiivsuse
säilitamisekstulevastes perioodides.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Personal</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2013. aasta 30. juuni seisuga oli kontsernil 3 212 töötajat, neist
399 töötas jaemüügi segmendis. Ülejäänud töötajad tegutsesid tootmise,
hulgimüügi-, haldus- ja tugiteenuste valdkondades.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Kontserni 2013 I poolaasta palgakulu koos maksudega oli 12 890
tuhat eurot. Kontserni juhtkonna võtmeisikute töötasud, sealhulgas
tütarettevõtete võtmeisikute tasud, moodustasid kokku 391 tuhat
eurot.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Kontserni juhtorganite otsused I poolaastal</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">28. juunil toimus Silvano Fashion Group korraline aktsionäride
üldkooosolek. Üldkoosolek võttis vastu järgmised otsused.</span></span>
<ul><li><span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">Koosolek kinnitas 2012. majandusaasta
aruande.</span></span></li><li><span style="font-family:Arial, Helvetica,
sans-serif;font-size:10pt;">Koosolek otsustas jaotada aktsionäridele dividende
0,10 eurot ühe aktsia kohta (õigustatud aktsionäride nimekiri fikseeriti
12.07.2013, väljamakse teostati 15.07.2013).</span></li><li><span
style="font-family:Arial, Helvetica, sans-serif;font-size:10pt;">Koosolek
otsustas vähendada ettevõtte aktsiakapitali aktsiate nominaali vähendamise teel
0,10 euro võrra aktsia kohta väljamaksetena aktsionäridele (õigustatud
aktsionäride nimekiri fikseeriti 12.07.2013, väljamakse teostatakse peale
aktsiakapitali vähendamise registreerimisprotseduuri) ning muuta seonduvalt
ettevõtte põhikirja.</span></li><li><span style="font-family:Arial, Helvetica,
sans-serif;font-size:10pt;">Koosolek otsustas kinnitada aktsiate
tagasiostuprogrammi järgnevas: programm kestab kuni 30.06.2014; maksimaalne
tagasiostetavate aktsiate kogus on 400 000; maksimaalne tagasiostuhind ei tohi
ületada 2,50 eurot aktsia kohta.</span></li><li><span style="font-family:Arial,
Helvetica, sans-serif;font-size:10pt;">Koosolek otsustas seoses tähtaja
saabumisega tagasi kutsuda nõukogu liikme, hr. Pavel Daneyko ning nimetas uueks
nõukogu liikmeks hr. Mart Mutso.</span></li><li><span style="font-family:Arial,
Helvetica, sans-serif;font-size:10pt;">Koosolek kinnitas ka 2013. majandusaasta
audiitoriks AS-i PricewaterhouseCoopers.</span></li></ul><span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Juunikuus asutas Silvano Fashion Group 100% osalusega
tütaräriühingu Lätis (SIA Linret), mille eesmärgiks on valdustegevus. Käesoleva
aruande väljaandmise hetkeks puudub nimetatud ettevõttel sisuline
majandustegevus.</span></span>
Aleksei Kadõrko
Finantsdirektor
Tel: 6845 000
e-post: [email protected]
Content of announcement in English
Title
Consolidated interim report for Q2 and 6 months of 2013 (unaudited)
Message
Tallinn, 2013-08-13 17:30 CEST (GLOBE NEWSWIRE) --
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Selected Financial Indicators</span></span>
<span style="font-family:Arial, Helvetica,
sans-serif;font-size:10pt;">Summarized selected financial indicators of the
Group for 6 months 2013 compared to 6 months 2012 and 30.06.2013 compared to
31.12.2012 were as follows:</span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">6m <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6m <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Change
style
2013</span></span>
2012</span></span>
</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">in
thous
ands
of
EUR</
span><
/span>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
----------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">68 947</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">65 501</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">5.3%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Reve
nue</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">12 131</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">15 424</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-21.3%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">EBIT
DA</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">8 335</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">10 974</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-24.0%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Net
profi
t for
the
perio
d</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">7 616</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">9 661</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-21.2%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Net
profi
t
attri
butabl
e
equit
y
holde
rs of
the
Paren
t
compa
ny</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">0.19</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">0,25</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-21.2%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Earn
ings
per
share
(EUR)
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">6 658</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2 323</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">186.7%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Oper
ating
cash
flow
for
the
perio
d</spa
n></sp
an>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">30.06.2013</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">31.12.2012</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Change
style
</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">in
thous
ands
of
EUR</
span><
/span>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">86 686</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">75 837</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">14.3%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
asset
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">63 661</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">55 847</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">14.0%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
curre
nt
asset
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">55 723</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">51 396</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">8.4%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
equit
y
attri
butabl
e to
equit
y
holde
rs of
the
Paren
t
compa
ny</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">137</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">47</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">191.5%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Loan
s and
borro
wings<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">20 408</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">16 260</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">25.5%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Cash
and
cash
equiv
alents
</span
></spa
n>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">6m <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6m <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Change
style
2013</span></span>
2012</span></span>
</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Marg
in
analy
sis,
%</sp
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">33.9</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">38.8</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-12.7%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Gros
s
profi
t</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">17.6</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">23.5</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-25.3%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">EBIT
DA</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">12.1</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">16.8</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-27.8%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Net
profi
t</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">11.0</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">14.7</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-25.1%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Net
profi
t
attri
butabl
e
equit
y
holde
rs of
the
Paren
t
compa
ny</sp
an></s
pan>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">30.06.2013</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">31.12.2012</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Change</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Fina
ncial
ratio
s,
%</sp
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">15.0</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">32.2</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-53.4%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">ROA<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">22.7</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">50.9</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-55.5%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">ROE<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">8.6</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">5.5</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">55.6%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Pric
e to
earni
ngs
ratio
(P/E)
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">3.6</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">3.6</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">1.3%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Curr
ent
ratio
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">2.3</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2.1</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">7.9%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Quic
k
ratio
</span
></spa
n>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Consolidated Statement of Financial Position</span></span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">30.06.2013</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">31.12.2012</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">in
thous
ands
of
EUR</
span><
/span>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
----------------------------------------------------------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">ASSE
TS</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Curr
ent
asset
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">20 408</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">16 260</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Cash
and
cash
equiv
alents
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">430</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">243</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Prep
ayment
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">18 745</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">14 746</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Trad
e and
other
recei
vables
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">24 078</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">24 598</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Inve
ntorie
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">63 661</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">55 847</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
curre
nt
asset
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Non-
curren
t
asset
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">1</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Long
-term
recei
vables
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">140</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">164</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Inve
stment
s in
assoc
iates<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">520</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">492</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Avai
lable-
for-sa
le
inves
tments
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">214</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">231</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Defe
rred
tax
asset
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">602</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">443</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Inta
ngible
asset
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">1 690</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1 618</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Inve
stment
prope
rty</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">19 858</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">17 041</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Prop
erty,
plant
and
equip
ment</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">23 025</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">19 990</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
non-c
urrent
asset
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">86 686</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">75 837</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">TOTA
L
ASSET
S</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">LIAB
ILITIE
S AND
EQUIT
Y</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Curr
ent
liabi
lities
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">137</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">47</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Borr
owings
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">15 628</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">11 171</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Trad
e and
other
payab
les</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">1 700</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1 008</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tax
liabi
lities
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">17 465</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">12 226</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
curre
nt
liabi
lities
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Non-
curren
t
liabi
lities
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">2 268</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2 162</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Defe
rred
tax
liabi
lity</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">2 268</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2 162</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
non-c
urrent
liabi
lities
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">19 733</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">14 388</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
liabi
lities
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Equi
ty</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">15 760</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">15 760</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Shar
e
capit
al</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">13 822</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">13 822</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Shar
e
premi
um</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-20</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-20</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Trea
sury
share
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">1 306</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1 306</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Stat
utory
reser
ve
capit
al</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">0</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">0</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Othe
r
reser
ves</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-586</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">15</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Unre
alised
excha
nge
rate
diffe
rences
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">25 441</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">20 513</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Reta
ined
earni
ngs</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">55 723</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">51 396</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
equit
y
attri
butabl
e to
equit
y
holde
rs of
the
Paren
t
compa
ny</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">11 230</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">10 053</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Non-
contro
lling
inter
est in
equit
y</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">66 953</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">61 449</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
equit
y</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">86 686</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">75 837</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">TOTA
L
EQUIT
Y AND
LIABI
LITIES
</span
></spa
n>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Consolidated Income Statement</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Q2 <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Q2 <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">6m 2013</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6m 2012</span></span>
style
2013</span></span>
2012</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">in
thous
ands
of
EUR</
span><
/span>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
----------------------------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">36 888</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">36 413</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">68 947</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">65 501</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Reve
nue</s
pan></
span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-23 <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-23 <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-45 564</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-40 062</span></span>
style
691</span></span>
103</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Cost
of
goods
sold<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">13 197</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">13 310</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">23 383</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">25 439</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Gros
s
Profi
t</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-4 141</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-3 802</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-8 385</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-6 947</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Dist
ributi
on
expen
ses</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-1 746</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-2 251</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-3 404</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-4 020</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Admi
nistra
tive
expen
ses</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">126</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">207</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">434</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">559</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Othe
r
opera
ting
incom
e</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-769</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-65</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-1 158</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-788</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Othe
r
opera
ting
expen
ses</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">6 667</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">7 399</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">10 870</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">14 243</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Oper
ating
profi
t</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-591</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-852</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-595</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-466</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Curr
ency
excha
nge
incom
e/(exp
ense)<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">151</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">126</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">408</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">312</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Othe
r
finan
ce
incom
e/(exp
enses)
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-440</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-726</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-187</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-154</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Net
finan
cial
incom
e</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
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">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">16</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">119</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">8</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">122</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Prof
it
(loss
) from
assoc
iates
using
equit
y
metho
d</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">6 243</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6 792</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">10 691</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">14 211</span></span>
style
="font
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10pt;"
><span
style
="font
-famil
y:Aria
l,
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tica,
sans-
serif;
">Prof
it
befor
e tax
and
gain/
(loss)
on
net
monet
ary
posit
ion</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-1 360</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-1 843</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-2 655</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-3 208</span></span>
style
="font
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10pt;"
><span
style
="font
-famil
y:Aria
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tica,
sans-
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">Inco
me tax
expen
se</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">4 883</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">4 949</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">8 036</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">11 003</span></span>
style
="font
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10pt;"
><span
style
="font
-famil
y:Aria
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tica,
sans-
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">Prof
it
befor
e
gain/
(loss)
on
net
monet
ary
posit
ion</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
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10pt;"
><span
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="font
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">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-382</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-107</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">299</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-29</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Gain
(loss
) on
net
monet
ary
posit
ion</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">4 501</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">4 842</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">8 335</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">10 974</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Prof
it for
the
perio
d</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
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10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Attr
ibutab
le to
:</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">4 089</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">4 328</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">7 616</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">9 661</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
Equit
y
holde
rs of
the
Paren
t
compa
ny</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">412</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">514</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">719</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1 313</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
Non-c
ontrol
ling
inter
est</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">0.10</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">0.11</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">0.19</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">0.25</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Earn
ings
per
share
from
profi
t
attri
butabl
e to
equit
y
holde
rs of
the
Paren
t
compa
ny,
both
basic
and
dilut
ed
(EUR<
/span>
</span
>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Business environment </span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Silvano Fashion Group with its brand portfolio is a recognized
market leader in the lingerie segment in Russia, Belarus, Ukraine, has
exceptionally strong foothold in other Russian-speaking countries (including
Kazakhstan and Moldova) and is a recognized player in the Baltic consumer
markets.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">As pointed out by several intimate apparel producers, the cold
weather impacted the sales in the Q1, but we see that Q2 has somewhat leveled
out the weather-related excuses. What we actually saw during Q2 was the
reduction of inventories both in-house (Milavitsa and Lauma brands), but also
the reduction of the inventories of our franchise partners, that is reflected
by the improved receivables of Silvano Fashion Group. Overall, H1 2013 sales
measured by quantity was somewhat weaker than planned, but in monetary terms
exceeded our expectations.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Looking more specifically at our core markets, Russia’s sales have
remained stable vis-à-vis H1 2012. Our local competitors are dropping the
enthusiasm on extensive growth plans for the current year. For the last 6
months, the Central Bank of Russia’s (CBR) refinancing rate has remained high
(CBR left the main policy rates unchanged in its June 10 meeting in responds to
remaining inflationary pressures), referring to high lending cost, hence also
lower consumption of the Russians. Further to this, the private deposits in
Russia show a tendency of growth that refers to more cautionary spending in
light of uncertainties. Nevertheless, our core brands Milavitsa and Lauma are
doing relatively well in this environment. When we look more deeply into the
changing structure of retailing (opening of new shopping centers, including
also in the regions) this explains our continuous expansion of the store count
in the country.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Quantitatively, Russia, our core market in terms of total sales
and total number of stores (375 stores in total), showed 41 288 thousand EUR in
sales for H1 2013 compared to 39 813 thousand in H1 2012. Going forward,
tighter access to credit, via higher interest rates and the likelihood of more
prudent lending practices by banks, will translate to weaker household
consumption.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Belarus rides on the tides of strong local currency and expanding
private household consumption. Thanks to the own retail network in the country,
we have been able to enjoy better margins from the business in both local
currency and in Euro terms. Since it is our second-largest (home) market, its
net monetary effect on our Profit and Loss statement is significant. Simply
said, we sell more like-for-like basis both in units as well as in monetary
terms. In Belarus, the Group operates directly and via franchise a total of 56
stores. Our sales in Belarus totalled 16 558 thousand EUR for H1 2013 compared
to 15 516 thousand in H1 2012. The country’s GDP growth during H1 2013 compared
to H1 2012 stood at 1.4% according to Belstat.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Ukraine, Kazakhstan and Moldova showed good dynamics in H1 2013.
We experienced growth in sales, in number of store openings and in sales
volumes in all three regions. Given the significance of Kazakhstan and Moldova
in the growth formula, the management of the company devotes more time to these
regions in the near future. Ukraine with its 92 franchise stores of Milavitsa
and Lauma Lingerie generated net sales of 5 159 thousand EUR in H1 2013,
compared to 4 015 thousand EUR in H1 2012.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Baltic economies continue performing well. According to Swedbank
estimates, the Baltic States shall outperform the rest of the EU, with Estonia,
Latvia and Lithuania GDP growth estimates for 2013 of 3.3%, 4.3% and 4.0%,
respectively. The Group operates directly and indirectly via franchise 39
stores in the region, whereas our sales there totalled 1 292 thousand EUR in H1
2013.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">On the store openings, H1 2013 the net increase (including
openings and store closures primarily due to relocations) for Milavitsa stores
was 46 units and 6 units under the Lauma Lingerie brand. The Group therefore
operated directly and via franchise a total of 636 stores (net increase of 52
stores compared to end of 2012). Total geography of our franchise partners now
covers more than 20 countries, including Milavitsa and Lauma Lingerie branded
stores. </span></span>
<strong style="font-family: arial, helvetica, sans-serif; font-size: 10pt;
">Financial performance
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Positive effect of the devaluation on the cost side has been
leveled out by increased expenses for labor, outsourcing, and utilities and to
some extent materials sourced from Belarus. Group applies hyperinflationary
accounting rules according to IAS 29 on business conducted in
Belarus.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">The Group`s sales amounted to 68 947 thousand EUR during H1 2013,
representing a 5.3% increase as compared to the same period of previous year.
Overall, wholesales increased by 4.0% and retail sales – by
12.2%.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">The Group’s reported gross profit margin during Q2 improved
(compared to Q1) hence H1 2013 total was 33.9%, reported gross margin was 38.8%
in the respective period of previous year. Consolidated operating profit for H1
2013 amounted to 10 870 thousand EUR, compared to 14 243 thousand EUR in H1
2012. The consolidated operating profit margin was 15.8% (21.7% in H1
2012).</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Consolidated net profit attributable to equity holders of the
Parent company amounted to 7 616 thousand EUR in H1 2013, compared to 9 661
thousand EUR in H1 2012; net profit margin attributable to equity holders of
the Parent company was 11% against 14.7% in H1 2012.</span></span>
<strong style="font-family: arial, helvetica, sans-serif; font-size: 10pt;
">Financial position
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">As of 30 June 2013 consolidated assets amounted to 86 686 thousand
EUR representing an increase of 14.3% as compared to the position as of 31
December 2012.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Trade and other receivables increased by 3 999 thousand EUR as
compared to 31 December 2012 and amounted to 18 745 thousand EUR as of 30 June
2013. Inventory balance decreased by 520 thousand EUR and amounted to 24 078
thousand EUR as of 30 June 2013. Changes in trade debtors and stock balance
were in line with the seasonality trend of the business.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Equity attributable to equity holders of the Parent company
increased by 4 327 thousand EUR and amounted to 55 723 thousand EUR as of 30
June 2013.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Current liabilities increased by 5 239 thousand EUR during H1
2013. Current and non-current loans and borrowings increased by 90 thousand EUR
to 137 thousand EUR as of 30 June 2013.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Sales structure</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Sales by markets</span></span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">6m <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6m <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica, <span
<span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">6m 2013 <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6m 2012
style
2013</span></span>
2012</span></span>
sans-serif;">Change</span></span> style
% from sales</span></span>
% from
sales</span></span>
="font
="font
-size:
-size:
10pt;"
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><span
><span
style
style
="font
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-famil
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sans-
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">
thous
</spa
ands
n></sp
of
an>
EUR</
span><
/span>
--------------------------------------------------------------------------------
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--------------------------------------------------------------------------------
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-------------------------------------------------------------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">41 288</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">39 813</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">1 475</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">59.9%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">60.8%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
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">Russ
">
ia</sp
</spa
an></s
n></sp
pan>
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">16 558</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">15 516</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">1 042</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">24.0%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">23.7%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
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sans-
sans-
serif;
serif;
">Bela
">
rus</s
</spa
pan></
n></sp
span>
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">5 159</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">4 015</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">1 144</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">7.5%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">6.1%</span></span>
style
style
="font
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-size:
10pt;"
10pt;"
><span
><span
style
style
="font
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-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
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tica,
tica,
sans-
sans-
serif;
serif;
">Ukra
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ine</s
</spa
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n></sp
span>
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">1 292</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1 825</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-533</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1.9%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">2.8%</span></span>
style
style
="font
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-size:
-size:
10pt;"
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><span
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style
style
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-famil
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tica,
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span>
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">4 650</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">4 332</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">318</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6.7%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">6.6%</span></span>
style
style
="font
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><span
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style
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-famil
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y:Aria
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r
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marke
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ts</sp
an>
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">68 947</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">65 501</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">3 446</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">100.0%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">100.0%</span></span>
style
style
="font
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-size:
10pt;"
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><span
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style
style
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-famil
-famil
y:Aria
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">Tota
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l</spa
</spa
n></sp
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an>
an>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">The majority of lingerie sales revenue during H1 2013 in the
amount of 41 288 thousand EUR was generated in Russia, accounting for 59.9% of
total sales. The second largest market was Belarus, where sales reached 16 558
thousand EUR, contributing 24.0% of lingerie sales (both retail and wholesale).
Out of the 4 650 thousand EUR sales in the other markets major part is
attributed to Kazakhstan and Moldova.</span></span>
<strong style="font-family: arial, helvetica, sans-serif; font-size: 10pt;
">Sales by business segments
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">6m <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6m <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica, <span
<span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">6m 2013 <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6m 2012
style
2013</span></span>
2012</span></span>
sans-serif;">Change</span></span> style
% from sales</span></span>
% from
sales</span></span>
="font
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EUR</
span><
/span>
--------------------------------------------------------------------------------
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--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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-------------------------------------------------------------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">57 562</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">55 332</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">2 230</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">83.5%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">84.5%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
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><span
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style
style
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-famil
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esale<
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</span
an>
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">11 183</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">9 966</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">1 217</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">16.2%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">15.2%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
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><span
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style
style
="font
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-famil
-famil
y:Aria
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il</sp
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pan>
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">202</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">203</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-1</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">0.3%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">0.3%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Othe
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r
</spa
opera
n></sp
tions<
an>
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">68 947</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">65 501</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">3 446</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">100.0%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">100.0%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Tota
">
l</spa
</spa
n></sp
n></sp
an>
an>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">During H1 2013 wholesale revenue amounted to 57 562 thousand EUR,
representing 83.5% of the Group’s total revenue (H1 2012: 84.5%). The main
wholesale regions were Russia, Ukraine, Belarus, Kazakhstan and
Moldova.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Total lingerie retail sales of the Group in H1 2013 amounted to 11
183 thousand EUR, representing a 12.2% increase as compared to the previous
year.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">As of 30 June 2013 there were altogether 636 Milavitsa and Lauma
branded shops. Own retail operations were conducted in Belarus and Latvia. As
of the end of H1 2013 the Group operated 60 own retail outlets. As of 30 June
2013, there were 544 Milavitsa branded shops operated by Milavitsa trading
partners in Russia, Ukraine, Moldova, Kazakhstan, Uzbekistan, Kyrgyzstan,
Latvia, Azerbaijan, Armenia, Germany, South Africa, Lithuania, Estonia,
Georgia, United Arab Emirates, Iran, Slovenia, Belgium and Italy. Additionally,
as of 30 June 2013, there were 32 Lauma Lingerie retail outlets operated by
Lauma Lingerie trading partners in Lithuania, Latvia, Estonia, Belarus and
Albania. For Lauma Lingerie, the Group expects further openings in Russia in
the near future.</span></span>
<strong style="font-family: arial, helvetica, sans-serif; font-size: 10pt;
">Investments
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">During 6 months 2013 the Group’s investments into property, plant
and equipment totaled 3 085 thousand EUR. Main investments were made into
equipment and facilities to improve logistic facilities and maintain effective
production for future periods.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Personnel</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">As of 30 June 2013, the Group employed 3 212 employees including
399 in retail. The rest were employed in production, wholesale, administration
and support operations.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Total salaries and related taxes during 6 months 2013 amounted to
12 890 thousand EUR. The remuneration of key management of the Group, including
the key executives of the subsidiaries, totaled 391 thousand EUR.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Decisions made by governing bodies during 6 months
2013</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">On 28 June 2013 Silvano Fashion Group held its regular Annual
General Meeting of Shareholders. The Meeting adopted following
decisions.</span></span>
<ul><li><span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">The Meeting approved the 2012 Annual
Report.</span></span></li><li><span style="font-family:Arial, Helvetica,
sans-serif;font-size:10pt;">The Meeting decided to distribute dividends in the
amount 0.10 EUR per share (record date 12.07.2013, paid out on
15.07.2013).</span></li><li><span style="font-family:Arial, Helvetica,
sans-serif;font-size:10pt;">The Meeting decided to reduce the share capital of
the Company by reducing the nominal value of the shares by 0.10 EUR per share
(record date 12.07.2013, to be paid out after the registration of the capital
reduction is completed) and amend the Articles of Association
accordingly.</span></li><li><span style="font-family:Arial, Helvetica,
sans-serif;font-size:10pt;">The Meeting decided to adopt a share buy-back
program in the following: effective period until 30.06.2014; maximum number of
shares to be acquired not more than 400,000; maximum share price 2.50 EUR per
share.</span></li><li><span style="font-family:Arial, Helvetica,
sans-serif;font-size:10pt;">The Meeting decided to recall Mr. Pavel Daneyko
from the Supervisory Board due to the expiration of his term, and appointed Mr.
Mart Mutso as the new Supervisory Board member.</span></li><li><span
style="font-family:Arial, Helvetica, sans-serif;font-size:10pt;">The Meeting
decided to re-appoint AS PricewaterhouseCoopers as the Group`s auditor for
financial year 2013.</span></li></ul><span style="font-family:Arial, Helvetica,
sans-serif;font-size:10pt;">In June, Silvano Fashion Group established a 100%
subsidiary in Latvia (SIA Linret) for holding purposes. At the date of the
issuance of the report, the company had no commercial activities.</span>
Aleksei Kadõrko
CFO
Silvano Fashion Group
+372 6845 000
[email protected]