Market announcement
Nordic Fibreboard AS
LEI code
54930002HOIXBD15OM06
Size of the entity
Small group
Economic activities
Financial and Insurance Activities
Country of registered office
Estonia
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
4165
Attachments
Submission date and time
23.08.2013 16:15:00
Content of announcement in Estonian
Title
Majandustulemused 6 kuud 2013
Message
Pärnu, 2013-08-23 15:15 CEST (GLOBE NEWSWIRE) --
KOKKUVÕTE
Skano Group ASi 2013 aasta teise kvartali konsolideeritud müügitulu kahanes
2012 aasta teise kvartaliga võrreldes 3% ja oli 4,7 mln eurot. Kontserni EBITDA
oli teises kvartalis 123 tuhat eurot, 2012 aasta teises kvartalis oli EBITDA
vastavalt 364 tuhat eurot.
Skano Fibreboard Pärnu tehaste müük (sh. Isotex) teises kvartalis oli 1,7 mln
eurot kahanedes eelmise aasta sama perioodiga võrreldes 5%. 2013 aasta teise
kvartali ärikahjum oli 76 tuhat eurot võrreldes 36 tuhade eurose ärikasumiga
eelmise aasta samal perioodil.
Skano Fibreboard Püssi kiudplaaditehase käive oli 889 tuhat eurot kasvades 25%
võrreldes eelmise aasta sama perioodiga. 2013 aasta teise kvartali ärikahjum
oli 158 tuhat eurot võrredluna 203 tuhande eurose ärikahjumiga eelmise aasta
samal perioodil. Välisturgude nõrgast nõudlusest tulenevalt töötas tehas teises
kvartalis 70-80% võimsusega.
Kuigi Skano Fibreboard tehaste kogukäive teises kvartalis jäi samaks võrrelduna
eelmise aasta sama perioodiga oli tunda survet müügi langusele tulenevalt
Euroopa majanduse üldisest nõrkusest. Mõlema tehase kasumlikkusele avaldas enim
mõju müügitellimustest tulenev tooteportfelli fragmenteeritus, kus suur arv
väiksemahulisi tellimusi põhjustasid madala tootmisefektiivsuse ning kõrge
omahinna. Ettevõtte juhtkonna prioriteediks on jätkuvalt tehaste toodangule
müügi kindlustamine ning kõrgema müügihinnaga toodete osakaalu kasvatamine
suurema käibe ja kasumlikkuse tagamiseks.
Skano Furniture Pärnu mööblivabriku 2013 aasta teise kvartali käive kahanes
eelmise aasta sama perioodiga võrreldes 12% ja oli 1 831 tuhat eurot. Teise
kvartali ärikasum oli 133 tuhat eurot võrrelduna 238 tuhande eurose ärikasumiga
2012 aasta teises kvartalis. Müük vähenes kõikides regioonides (v.a. müük
tütarettevõttele) tulenevalt nõrgast välisnõudlusest. Enim, 29%, võrra kahanes
mööbli müük Soome teises kvartalis. Lisaks olemasolevatel turgudel uute
müügivõimaluste otsimisele on ettevõtte jaoks oluline suund ka uutele turgudele
minek.
Skano Furniture jaemüügiketi käive kasvas eelmise aasta sama perioodiga
võrreldes 9% ja oli 619 tuhat eurot ning ärikahjum oli 3 tuhat eurot võrrelduna
63 tuhande eurose ärikasumiga 2012 aasta teises kvartalis. 2013 aasta teise
kvartali ärikahjum sisaldas Ukraina grivna kursimuutusest tekkinud kahjumit
summas 14 tuhat eurot (2012 aastal teises kvartalis kasum vastavalt 50 tuhat
eurot). Võrrelduna eelmise aasta sama perioodiga kasvas mööbli jaemüük Eesti ja
Leedus, kuid kahanes Lätis ja eriti suures mahus ehk 38% Ukrainas. Jaemüügist
moodustab Skano Group ASi enda toodetud mööbli müük jätkuvalt olulise osa ning
see võimaldab mööblivabrikul opereerida tunduvalt kasumlikumalt, kui see ilma
oma jaemüügiketita võimalik oleks.
KASUMIARUANNE
Aruandeaasta teise kvartali müügitulu oli 4,7 mln eurot (2012 aastal 4,9 mln
eurot) mis tähendab 2012 aasta teise kvartaliga võrreldes 3%-list kahanemist.
Kontserni müügikäibe brutorentaablus oli 2013 aasta teises kvartalis 15,6%
(võrrelduna 2012 aasta teise kvartali 17,9%-ga). Konsolideeritud ärikahjum oli
104 tuhat eurot (2012 aasta samal perioodil põhitegevuse ärikasum 108 tuhat
eurot). Konsolideeritud müügikäibe ärirentaablus oli -2% (võrrelduna 2012 aasta
teise kvartali põhitegevuse ärirentaabluse +2%-ga).
Konsolideeritud puhaskahjum oli 164 tuhat eurot (2012 aasta teises kvartalis
oli põhitegevuse puhaskasum 39 tuhat eurot) ja puhasrentaablus oli -3%
(võrrelduna 2012 aasta teise kvartali +1%-ga).
FINANTSSEISUNDI ARUANNE
Kontserni koguvarade maht oli 30.06.2013 seisuga 15,3 mln eurot (30.06.2012:
16,1 mln eurot), millest ettevõtte kohustused moodustasid 30.06.2013 seisuga
8,2 mln eurot (30.06.2012: 8,5 mln eurot) ehk 54,1% (30.06.2012: 53,1%).
Nõuded ja ettemaksud on kahanenud 0,2 mln eurot, vähenedes 12 kuuga 8%. Nõuete
vähenemise põhjuseks on faktooringu kasutuselevõtt.
Varud jäid 12 kuuga samale tasemele, moodustades 30.06.2013 seisuga 3,3 mln
eurot. Seisuga 30.06.2012 oli varude maht samuti 3,3 mln eurot. Materiaalne ja
immateriaalne põhivara vähenes 0,5 mln eurot peamiselt kulumi tõttu.
Lühiajalised laenukohustused olid seisuga 30.06.2013 1,25 mln eurot (30.06.2012
1,28 mln eurot) ja vähenesid 12 kuuga kokku 0,03 mln eurot. Võlad hankijatele,
maksukohustused, muud võlad, sh võlad töötajatele ja eraldised moodustasid 2,4
mln eurot (seisuga 30.06.2012 2,5 mln eurot). Lühi- ja pikaajalised kohustused
kokku kahanesid 0,3 mln eurot 8,2 mln euroni (30.06.2012 8,5 mln eurot).
ÄRIVALDKONDADE ÜLEVAADE
MÜÜK SEGMENTIDE LÕIKES
tuh EUR % käibest
----------------------------------------------------------------------------
II kv. 2013 II kv. 2012 II kv. 2013 II kv. 2012
----------------------------------------------------------------------------
Skano Fibreboard 2 631 2 621 55,5% 53,7%
----------------------------------------------------------------------------
Skano Furniture tootmine 1 831 2 070 38,7% 42,4%
----------------------------------------------------------------------------
Skano Furniture jaemüük 619 569 13,1% 11,7%
----------------------------------------------------------------------------
Elimineerimine (344) (379) (7,3%) (7,8%)
----------------------------------------------------------------------------
KOKKU 4 737 4 881 100,0% 100,0%
----------------------------------------------------------------------------
MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
-----------------------------------------------------------------
II kv. 2013 II kv. 2012 II kv. 2013 II kv. 2012
-----------------------------------------------------------------
Venemaa 1 636 1 480 34,5% 30,3%
-----------------------------------------------------------------
Soome 1 404 1 569 29,6% 32,1%
-----------------------------------------------------------------
Eesti 704 676 14,9% 13,8%
-----------------------------------------------------------------
Suurbitannia 235 312 5,0% 6,4%
-----------------------------------------------------------------
Leedu 165 86 3,5% 1,8%
-----------------------------------------------------------------
Rootsi 146 128 3,1% 2,6%
-----------------------------------------------------------------
Ukraina 136 188 2,9% 3,9%
-----------------------------------------------------------------
Läti 112 154 2,4% 3,2%
-----------------------------------------------------------------
Holland 51 124 1,1% 2,5%
-----------------------------------------------------------------
Kasahstan 39 40 0,8% 0,8%
-----------------------------------------------------------------
Tsehhi 20 0 0,4% 0,0%
-----------------------------------------------------------------
Saksamaa 18 23 0,4% 0,5%
-----------------------------------------------------------------
India 14 15 0,3% 0,3%
-----------------------------------------------------------------
Teised riigid 57 86 1,2% 1,8%
-----------------------------------------------------------------
KOKKU 4 737 4 881 100,0% 100,0%
-----------------------------------------------------------------
Turgude lõikes on käive kasvanud Venemaal, Eestis ja Leedus. Enam on vähenenud
Soome, Suubritannia ja Hollandi osatähtsus käibes.
KASUM SEGMENTIDE LÕIKES
tuh EUR II kv. 2013 II kv. 2012
--------------------------------------------------
Skano Furniture tootmine 133 238
--------------------------------------------------
Skano Furniture jaemüük (3) 63
--------------------------------------------------
Skano Fibreboard (234) (167)
--------------------------------------------------
Elimineerimine 0 (26)
--------------------------------------------------
KOKKU (104) 108
--------------------------------------------------
Neto finantskulud (60) (67)
--------------------------------------------------
Tulumaksukulu 0 (2)
--------------------------------------------------
PUHASKASUM (164) 39
--------------------------------------------------
SKANO FIBREBOARD
Skano Fibreboard müügitulu oli 2013 aasta teises kvartalis 2,63 mln eurot ja
ärikahjum 234 tuhat eurot. Eelmise aasta samal perioodil oli üksuse käive 2,62
mln eurot ja ärikahjum 167 tuhat eurot. Tulenevalt Euroopa majanduse üldisest
nõrkusest, langes müük ühtlaselt kõigis regioonides ja kliendisektorites v.a.
Venemaa, Rootsi ja Soome. Vaatamata Soome halvenenud majanduskeskkonnale
suutsime teises kvartalis müüki suurendada ja seda eelkõige tänu uuele
turunduspartnerile ning strateegilisele koostöölepingule. Suurim müügilangus
eelmise aasta sama perioodiga võrreldes toimus Suurbritannias ja Hollandis,
vastavalt 27% ja 59%. Enim kasvas müük Venemaale, ulatudes 35%-ni.
Kasumlikkusele avaldas enim mõju müügitellimustest tulenev tooteportfelli
fragmenteeritus, kus suur arv väiksemahulisi tellimusi põhjusid madala
tootmisefektiivuse ning kõrge omahinna.
MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
-------------------------------------------------------------------
II kv. 2013 II kv. 2012 II kv. 2013 II kv. 2012
-------------------------------------------------------------------
Venemaa 806 598 30,6% 22,8%
-------------------------------------------------------------------
Soome 803 734 30,5% 28,0%
-------------------------------------------------------------------
Eesti 382 405 14,5% 15,5%
-------------------------------------------------------------------
Suurbritannia 229 312 8,7% 11,9%
-------------------------------------------------------------------
Rootsi 146 128 5,5% 4,9%
-------------------------------------------------------------------
Holland 51 124 1,9% 4,7%
-------------------------------------------------------------------
Läti 45 72 1,7% 2,7%
-------------------------------------------------------------------
Ukraina 35 26 1,3% 1,0%
-------------------------------------------------------------------
Leedu 22 22 0,8% 0,8%
-------------------------------------------------------------------
Saksamaa 18 23 0,7% 0,9%
-------------------------------------------------------------------
India 14 15 0,5% 0,6%
-------------------------------------------------------------------
Teised riigid 71 72 2,7% 2,7%
-------------------------------------------------------------------
Kontsernisisene 9 90 0,3% 3,4%
-------------------------------------------------------------------
KOKKU 2 631 2 621 100,0% 100,0%
-------------------------------------------------------------------
tuh EUR Müük Ärikasum
--------------------------------------------------------------------------------
II kv. 2013 II kv. 2012 II kv. II kv. 2012
2013
--------------------------------------------------------------------------------
Pärnu kiudplaadivabrik 1 091 1 266 (125) (24)
--------------------------------------------------------------------------------
Püssi kiudplaadivabrik 889 709 (158) (203)
--------------------------------------------------------------------------------
Pärnu vääristamisüksus 642 556 49 60
(Isotex)
--------------------------------------------------------------------------------
Allokeerimata 9 90 0 0
--------------------------------------------------------------------------------
KOKKU 2 631 2 621 (234) (167)
--------------------------------------------------------------------------------
Pärnu kiudplaadivabriku ja siseviimistlusplaatide liini käive kahanes eelmise
aasta teise kvartaliga võrreldes 5% ja oli 1,7 miljonit eurot. Tulenevalt
killustatud müügitellimustest oli tehase tootmisefektiivsus teises kvartalis
madal.
Püssis asuva kiudplaaditehase käive oli 889 tuhat eurot kasvades eelmise aasta
sama perioodiga võrreldes 25%. Ärikahjum oli 158 tuhat eurot (2012 teises
kvartalis müük 709 tuhat eurot ja ärikahjum 203 tuhat eurot). Püssi tehase müük
küll kasvas, kuid jätkuvalt on väljakutseks Püssi tehase toodangule
müügivõimaluse leidmine. Teises kvartalis töötas tehas ca 70-80% võimsusega.
Oluline on märkida, et tänu suurtele püsikuludele tuleb tehase kasumlikuks
opereerimiseks käitada seda võimalikult suurel võimsusel, mis tagab madalama
toote keskmise omahinna.
SKANO FURNITURE
MÖÖBLI JAEMÜÜK
Skano Group ASi mööbli jaeäri opereerivad Skano Furniture OÜ ja selle
tütarfirmad Lätis, Leedus ja Ukrainas. Seisuga 30.06.2013 on mööblikaupluste
ketis kokku 9 kauplust: kaks Tallinnas ja üks Pärnus, Riias, Vilniuses, kaks
Kiievis, üks Harkovis ja Dnepropetrovskis.
JAEMÜÜK RIIKIDE LÕIKES
tuh EUR % käibest Kaupluste arv
-------------------------------------------------------------------------------
II kv. 2013 II kv. 2012 II kv. 2013 II kv. 2012 30.06.13 30.06.12
-------------------------------------------------------------------------------
Eesti 308 261 49,8% 45,9% 3 3
-------------------------------------------------------------------------------
Läti 67 82 10,8% 14,4% 1 1
-------------------------------------------------------------------------------
Leedu 143 64 23,1% 11,2% 1 1
-------------------------------------------------------------------------------
Ukraina 101 162 16,3% 28,5% 4 4
-------------------------------------------------------------------------------
Kokku 619 569 100,0% 100,0% 9 9
-------------------------------------------------------------------------------
Mööbli jaemüük 2013 aasta esimeses kvartalis moodustas 619 tuhat eurot,
kasvades eelmise aasta sama perioodiga 9%. Ärikahjum teises kvartalis oli 3
tuhat eurot (2012 teise kvartali ärikaasum 63 tuhat eurot). Mööbli jaemüük
kasvas teises kvartalis Eesti ja Leedus, kuid kahanes Lätis ning Ukrainas,
viimases 38% võrrelduna eelmise aasta sama perioodiga. Ukraina suleti teises
kvartalis kauplus Donetskis, mille müügtulemused ei olnud rahuldavad ja avati
uus kauplus Kiievis.
MÖÖBLI TOOTMINE
Pärnu mööblivabrikus oli 2013 aasta teise kvartali müügitulu 1,8 mln eurot ja
ärikasum 133 tuhat eurot. Eelmise aasta samal perioodil oli mööblivabriku käive
2,1 mln eurot ja ärikasum 238 tuhat eurot. Võrreldes eelmise aastaga on vabriku
käive vähenenud 234 tuhat eurot ja ärikasum vähenenud 105 tuhat eurot. Müük
vähenes kõikides regioonides (v.a. tütarettevõte) tulenevalt nõrgast
välisnõudlusest. Teises kvartalis vähenes enim müük Soome (-28%), kus on
toimunud oluline majanduskeskkonna halvenemine.
MÖÖBLIVABRIKU MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
-------------------------------------------------------------------
II kv. 2013 II kv. 2012 II kv. 2013 II kv. 2012
-------------------------------------------------------------------
Venemaa 830 882 45,3% 42,6%
-------------------------------------------------------------------
Soome 601 835 32,8% 40,3%
-------------------------------------------------------------------
Kasahstan 39 40 2,1% 1,9%
-------------------------------------------------------------------
Eesti 14 10 0,8% 0,5%
-------------------------------------------------------------------
Teised riigid 12 14 0,7% 0,7%
-------------------------------------------------------------------
Tütarettevõtted 335 289 18,3% 14,0%
-------------------------------------------------------------------
Kokku 1 831 2 070 100,0% 100,0%
-------------------------------------------------------------------
PROGNOOS JA ARENG
SKANO FIBREBOARD. Pärnu kiudplaaditehase põhitootmisliin töötas 2013 aasta
juulis täisvõimsusel ning juhtkond prognoosib täisvõimsusel tootmist kogu III
kvartaliks. Siseviimistlusplaatide Isotex liinidel toimub tootmine tavapärasel
võimsusel. Samuti töötas Püssi tehas juulikuus täisvõimsusega ning juhtkonna
prognoosi kohaselt jätkab täisvõimsusel tööd peale augusti teisel poolel alanud
3-nädalast kollektiivpuhkust ja iga-aastast tavapärast hooldusremonti.
Prognooside kohaselt ületab kiudplaadimüük III kvartalis eelmise aasta sama
perioodi müüki.
Vaatamata välisturgude nõrgale nõudlusele ja Euroopa majanduse seisukorrale
oleme optimistlikud müügi kasvu osas aasta teises pooles, seda eelkõige
Venemaal ja Soomes. Venemaa müügimahud on viimastel aastatel pidevalt kasvanud
ning prognoosime trendi jätkumist ka 2013 aasta teiseks pooleks. Soome ja
Euroopa teiste regioonide müügimahtude langus 2013 aasta esimesel poolaastal
oli suuresti tingitud halvenenud majanduskeskkonnast, mis tõenäoliselt ei
parane 2013 aasta jooksul. Vaatamata halvenenud majanduskeskkonnale loodame
tänu turunduspartneri vahetusele ning sõlmitud strateegilisele koostööleppele
oluliselt kasvatada toodangu müüki Soomes. Sellest tulenevalt ootame nii Püssi
kui Pärnu tehaste tootmismahu märkimisväärset kasvu 2013 aasta teisel poolel.
Nimetatud tegurite koosmõju aitaks oluliselt efektiivsemaks muuta
tootmisprotsessi ning saavutada senisest madalama omahinna ning suuremad
müügimahud..
SKANO MÖÖBLI JAEMÜÜK. Prognoosime, et 2013 aasta kolmanda kvartali jaemüük
ületab vähesel määral eelmise aasta kolmanda kvartali müüki, seda eelkõige
Baltikumi müügi stabiilse kasvu tõttu.
SKANO MÖÖBLIVABRIK. 2013 aasta kolmandas kvartalis ootame mööblivabrikus
eelmise aastaga võrreldes väiksemat käivet tulenevalt üldisest halvenenud
majanduskeskkonnast lähiturgudel ja eriti nõrgenevast nõudlusest Soomes. Aasta
teises pooles ootame lisanduvat müüki uutelt sihtturgudelt ja seda eelkõige
Suurbritanniast. Lisanduv müük ei kata Soome turu olukorrast tingitud müügi
kahanemist. Lisaks otsime võimalusi sisenemiseks teistele Lääne-Euroopa
turgudele.
SKANO GROUP AS. 13.augusti erakorralisel üldkoosolekul võeti vastu otsus
suurendada restruktureerimiskava raames juulikuus asutatud tütarühingute Skano
Furniture Factory OÜ ja Skano Fibreboard OÜ osakapitali ning kinnitada
osakapitali suurendamise eest tasumine mitterahalise sissemaksega, milleks on
vastavalt kiudplaadi- ja mööblitootmisüksuste tervikvara (ettevõte). Skano
Group AS viib senised tootmisüksused ning nende tegevused üle eraldiseisvate
tütarühingute alla. Mitterahaline sissemakse antakse tütarühingutele üle
hiljemalt 01.09.2013. Alates septembrist toimuvad põhitegevused tütarühingute
all, mööblitootmine Skano Furniture Factory OÜ-s ja puitkiudplaaditootmine
Skano Fibreboard OÜ-s. Skano Group AS jääb valdusettevõtteks.
FINANTSSUHTARVUD
tuh EUR 6 kuud 2013 6 kuud 2012 6 kuud 2011
-------------------------------------------------------------------------------
Kasumiaruanne
-------------------------------------------------------------------------------
Müügitulu 9 098 9 440 8 336
-------------------------------------------------------------------------------
EBITDA 86 511 719
-------------------------------------------------------------------------------
EBITDA rentaablus 0,9% 5,4% 8,6%
-------------------------------------------------------------------------------
Ärikasum (370) 10 427
-------------------------------------------------------------------------------
Ärirentaablus (4,1%) 0,1% 5,1%
-------------------------------------------------------------------------------
Puhaskasum (486) (134) 373
-------------------------------------------------------------------------------
Puhasrentaablus (5,3%) (1,4%) 4,5%
-------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Bilanss (30.06)
-------------------------------------------------------------------------------
Koguvarad 15 256 16 050 13 467
-------------------------------------------------------------------------------
Koguvarade puhasrentaablus (3,2%) (0,8%) 2,8%
-------------------------------------------------------------------------------
Omakapital 7 009 7 532 5 716
-------------------------------------------------------------------------------
Omakapitali puhasrentaablus (6,9%) (1,8%) 6,5%
-------------------------------------------------------------------------------
Võlakordaja 54,1% 53,1% 57,6%
-------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsia (30.06)
-------------------------------------------------------------------------------
Aktsia sulgemishind (EUR) 1,06 1,31 1,74
-------------------------------------------------------------------------------
Puhaskasum aktsia kohta (EUR) (0,11) (0,03) 0,08
-------------------------------------------------------------------------------
Hind-tulu (PE) suhtarv (9,64) (43,67) 21,75
-------------------------------------------------------------------------------
Aktsia raamatupidamisväärtus (EUR) 1,56 1,67 1,27
-------------------------------------------------------------------------------
Turuhinna ja raamatupidamisväärtuse suhe 0,68 0,78 1,37
-------------------------------------------------------------------------------
Turukapitalisatsioon 4 769 5 894 7 828
-------------------------------------------------------------------------------
EBITDA = ärikasum + kulum
EBITDA rentaablus = EBITDA / müügitulu
Ärirentaablus = ärikasum / müügitulu
Puhasrentaablus = puhaskasum / müügitulu
Koguvarade puhasrentaablus = puhaskasum / koguvarad
Omakapitali puhasrentaablus = puhaskasum / omakapital
Võlakordaja = kohustused / koguvarad
Puhaskasum aktsia kohta = puhaskasum / aktsiate arv
Hind-tulu (PE) suhtarv = aktsia sulgemishind / puhaskasum aktsia kohta
Aktsia raamatupidamisväärtus = omakapital / aktsiate arv
Turuhinna ja raamatupidamisväärtuse suhe = aktsia sulgemishind / aktsia
raamatupidamisväärtus
Turukapitalisatsioon = aktsia sulgemishind * aktsiate arv
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
tuh EUR 30.06.2013 31.12.2012 30.06.2012
----------------------------------------------------------------------------
Raha ja raha ekvivalendid 111 158 174
----------------------------------------------------------------------------
Nõuded ja ettemaksed (lisa 1) 1 942 1 792 2 116
----------------------------------------------------------------------------
Varud (lisa 2) 3 257 3 303 3 268
----------------------------------------------------------------------------
Käibevara kokku 5 310 5 253 5 558
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Kinnisvarainvesteeringud (lisa 3) 185 185 185
----------------------------------------------------------------------------
Materiaalne põhivara (lisa 4) 9 741 10 010 10 294
----------------------------------------------------------------------------
Immateriaalne põhivara (lisa 5) 20 23 13
----------------------------------------------------------------------------
Põhivara kokku 9 946 10 218 10 492
----------------------------------------------------------------------------
----------------------------------------------------------------------------
AKTIVA (vara) KOKKU 15 256 15 471 16 050
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Võlakohustused (lisa 6) 1 249 1 845 1 277
----------------------------------------------------------------------------
Võlad ja ettemaksed (lisa 7) 2 419 1 923 2 507
----------------------------------------------------------------------------
Lühiajalised eraldised (lisa 8) 7 12 5
----------------------------------------------------------------------------
Lühiajalised kohustused kokku 3 675 3 780 3 789
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Pikaajalised võlakohustused (lisa 6) 4 328 3 973 4 490
----------------------------------------------------------------------------
Pikaajalised eraldised (lisa 8) 244 236 239
----------------------------------------------------------------------------
Pikaajalised kohustused kokku 4 572 4 209 4 729
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Kohustused kokku 8 247 7 989 8 518
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Aktsiakapital (nimiväärtuses) (lisa 9) 2 699 2 699 2 699
----------------------------------------------------------------------------
Ülekurss 364 364 364
----------------------------------------------------------------------------
Kohustuslik reservkapital 288 288 288
----------------------------------------------------------------------------
Ümberhindluse kursivahed (8) (21) (38)
----------------------------------------------------------------------------
Eelmiste perioodide jaotamata kasum 4 152 4 353 4 353
----------------------------------------------------------------------------
Aruandeaasta kasum (kahjum) (lisa 10) (486) (201) (134)
----------------------------------------------------------------------------
Omakapital kokku 7 009 7 482 7 532
----------------------------------------------------------------------------
----------------------------------------------------------------------------
PASSIVA (kohustused ja omakapital) KOKKU 15 256 15 471 16 050
----------------------------------------------------------------------------
KONSOLIDEERITUD KASUMI- JA KOONDKASUMIARUANNE
tuh EUR II kv II kv 6 k 6 k
2013 2012 2013 2012
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Müügitulu (lisa 11) 4 736 4 881 9 098 9 440
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Müüdud toodangu kulu (3 999) (4 007) (7 841) (7 941)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Brutokasum 737 874 1 257 1 499
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Turustuskulud (649) (592) (1 229) (1 192)
--------------------------------------------------------------------------------
Üldhalduskulud (180) (199) (387) (309)
--------------------------------------------------------------------------------
Muud äritulud 19 54 61 91
--------------------------------------------------------------------------------
Muud ärikulud (31) (29) (72) (79)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Ärikasum (kahjum) (lisa 11) (104) 108 (370) 10
--------------------------------------------------------------------------------
Neto finantskulu (60) (67) (115) (134)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Kasum(kahjum) enne tulumaksu (164) 41 (485) (124)
--------------------------------------------------------------------------------
Tulumaksukulu 0 (2) (1) (10)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
PERIOODI PUHASKASUM (KAHJUM) (164) 39 (486) (134)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum:
--------------------------------------------------------------------------------
Valuutakursside muutuste mõju 3 (36) 13 (27)
konsolideerimisel
--------------------------------------------------------------------------------
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PERIOODI KOONDKASUM(KAHJUM) (161) 3 (473) (161)
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Tava perioodi puhaskasum(kahjum) aktsia (0,04) 0,01 (0,11) (0,03)
kohta (lisa 10)
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Lahustatud perioodi puhaskasum(kahjum) (0,04) 0,01 (0,11) (0,03)
aktsia kohta (lisa 10)
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2013. aasta kolmanda kvartali vahearuande planeeritav avalikustamise aeg on
nädal nädal 48 (25.-29. november 2013)
Martin Kalle
Finantsdirektor
+372 4478 331
[email protected]
www.skano.com
Content of announcement in English
Title
Financial result, 6 months 2013
Message
Pärnu, 2013-08-23 15:15 CEST (GLOBE NEWSWIRE) --
SECOND QUARTER IN SHORT
Consolidated net sales of the second quarter of 2013 was 4.7 mil. euros,
representing a 3% decrease on the second quarter compared to the same period in
2012. At the same time, consolidated EBITDA amounted to 123 thousand euros (364
thousand euros in Q2 2012).
The sales in Skano Pärnu fibreboard factory (incl. Isotex) was 1.7 mil. euros,
decreased as compared to the respective period last year by 5%, the operating
loss of the second quarter was 76 thousand euros compared with the operating
profit 36 thousand euros last year.
The turnover of Skano Püssi fibreboard factory was 889 thousand euros,
representing 25% increase in the second quarter compared to the same period in
2012. Operating loss amounted to 158 thousand euros compared with the operating
loss 203 thousand euros last year. Due to weak demand Püssi factory was
operating at approximately of 70-80% of its capacity in the second quarter of
2013.
Although sales were on the same level compare to the second quarter of 2012 the
down pressure to sales was felt due to weak economic situation in Europe.
Profitability of Fibreboard division was affected by very fragmented production
portfolio where high number of small size orders caused low production
efficiency and high COGS. The priority of the management of the company is
continuously to ensure the sales of the production of both factories in order
to guarantee the maximum production capacity and efforts are taken in this
direction on an on-going basis.
The turnover of Skano furniture factory in Pärnu decreased in the second
quarter by 12% and amounted to 1 831 thousand euros. The operating profit of
the second quarter was 133 thousand euros as in 2012 the operating profit of
the same period was 238 thousand euros. Sales in the second quarter of 2013
decreased in all regions (except for sales to the subsidiary) due to weak
demand of foreign markets. Sales dropped the most in Finland, by 29% compared
to the same period in 2012. The company is seeking new sale’s possibilities in
the current markets but going into totally new markets is a substantial
direction for us.
The turnover of Skano furniture retail chain increased 9% as compared to the
same period last year being 619 thousand euros, operating loss was 3 thousand
euros compared with the sales 569 thousand and operating profit 63 thousand
euros in the second quarter of 2012. Current year operating loss contains also
loss from currency exchange rate of hryvnia 14 thousand euros (profit from
currency exchange rate 50 thousand euros in the same period of 2012). Retail
sale increased in Estonia and Lithuania but decreased in Latvia and dropped in
large extent in Ukraine (-38%). The sales of Skano Group AS own furniture still
forms a considerable part of the retail sale and it enables the furniture
factory to operate much more profitably than it would be possible without its
own retail chain.
INCOME STATEMENT
Consolidated net sales of the second quarter in 2013 was 4.7 mil. euros (4.9
mil. euros in same period of 2012) representing a 3% decrease on the second
quarter compared to Q2 2012. The Group’s gross margin in the second quarter of
2013 was 15.6% compared to 17.9% in the second quarter of 2012. Consolidated
operating loss amounted to 104 thousand euros (operating profit 108 thousand
euros from main activities in same period 2012). The consolidated operating
margin of net sales was -2% (+2% from main activities in Q2 2012).
Consolidated net loss amounted to 164 thousand euros (compared to net profit 39
thousand euros in Q2 2012), and the net margin was -3% (+1% in Q2 2012).
POSITION OF FINANCIAL STATEMENT
As of 30.06.2013 the total assets of Skano Group AS amounted to 15.3 mil. euros
(30.06.2012: 16.1 mil. euros). The liabilities of the company accounted for
54.1% (30.06.2012: 53.1%) thereof, i.e. 8.2 mil. euros (30.06.2012: 8.5 mil.
euros).
Receivables and prepayments have decreased by 0.2 mil. euros i.e. 8% decrease
with 12 months. The reason of decrease of receivables was implementation of
factoring instrument.
Inventories remained at the same level compared to last year, amounting to 3.3
mil. euros on 30.06.2013. (30.06.2012: 3.3 mil. euros). Property, plant and
intangibles decreased by 0.5 mil. euros mainly as a result of depreciation.
Short-term loans decreased by 0.03 mil. euros and amounted to 1.25 mil. euros
in 30.06.2013 (30.06.2012: 1.28 mil. euros). Supplier payables, tax
liabilities, other payables, including payables to employees, and provisions
amounted to 2.4 mil. euros (30.06.2012: 2.5 mil. euros). Current and
non-current liabilities decreased by 0.3 mil. euros to 8.2 mil. euros
(30.06.2012: 8.5 mil. euros).
DIVISIONAL REVIEW
NET SALES BY BUSINESS SEGMENTS
th EUR % of net sales
-----------------------------------------------------------
Q2 2013 Q2 2012 Q2 2013 Q2 2012
-----------------------------------------------------------
Skano Fibreboard 2,631 2,621 55.5% 53.7%
-----------------------------------------------------------
Skano Furniture factory 1,831 2,070 38.7% 42.4%
-----------------------------------------------------------
Skano Furniture retail 619 569 13.1% 11.7%
-----------------------------------------------------------
Elimination (344) (379) (7.3%) (7.8%)
-----------------------------------------------------------
TOTAL 4,737 4,881 100.0% 100.0%
-----------------------------------------------------------
NET SALES BY GEOGRAPHICAL SEGMENTS
th EUR % of net sales
---------------------------------------------------
Q2 2013 Q2 2012 Q2 2013 Q2 2012
---------------------------------------------------
Russia 1,636 1,480 34.5% 30.3%
---------------------------------------------------
Finland 1,404 1,569 29.6% 32.1%
---------------------------------------------------
Estonia 704 676 14.9% 13.8%
---------------------------------------------------
Great Britain 235 312 5.0% 6.4%
---------------------------------------------------
Lithuania 165 86 3.5% 1.8%
---------------------------------------------------
Sweden 146 128 3.1% 2.6%
---------------------------------------------------
Ukraine 136 188 2.9% 3.9%
---------------------------------------------------
Latvia 112 154 2.4% 3.2%
---------------------------------------------------
Netherlands 51 124 1.1% 2.5%
---------------------------------------------------
Kazakhstan 39 40 0.8% 0.8%
---------------------------------------------------
Csech republic 20 0 0.4% 0.0%
---------------------------------------------------
Germany 18 23 0.4% 0.5%
---------------------------------------------------
India 14 15 0.3% 0.3%
---------------------------------------------------
Other countries 57 86 1.2% 1.8%
---------------------------------------------------
TOTAL 4,737 4,881 100.0% 100.0%
---------------------------------------------------
Regarding the markets, turnover has increased in Russia, Estonia and Lithuania.
The percentage of turnover has decreased in most in Finland, Great Britain and
Netherlands.
PROFIT BY BUSINESS SEGMENTS
th EUR Q2 2013 Q2 2012
-----------------------------------------
Skano Furniture factory 133 238
-----------------------------------------
Skano Furniture retail (3) 63
-----------------------------------------
Skano Fibreboard (234) (167)
-----------------------------------------
Elimination 0 (26)
-----------------------------------------
TOTAL (104) 108
-----------------------------------------
Net financial costs (60) (67)
-----------------------------------------
Income tax 0 (2)
-----------------------------------------
NET PROFIT (164) 39
-----------------------------------------
SKANO FIBREBOARD
The net sales of Skano Fibreboard in the second quarter of 2013 amounted to
2.63 mil. euros and operating loss to 234 thousand euros. In the same period
last year, the turnover of the division totaled to 2.62 mil. euros and the
operating loss from main activities 167 thousand euros. Sales have dropped in
all regions except for Russia, Sweden and Finland due to weak economic
situation in Europe. In spite of deteriorated economic situation company
managed to increase sales in Finland due to a new distribution partner and a
strategic cooperation agreement. The biggest drop in sales in the second
quarter compare to last year took place in Great Britain and Netherlands, 27%
and 59% respectively. Sales in Russia grew most, 35% respectively.
Profitability was affected by a very fragmented production portfolio where high
number of small size orders caused low production efficiency and high COGS.
NET SALES BY GEOGRAPHICAL SEGMENTS
th EUR % of net sales
---------------------------------------------------
Q2 2013 Q2 2012 Q2 2013 Q2 2012
---------------------------------------------------
Russia 806 598 30.6% 22.8%
---------------------------------------------------
Finland 803 734 30.5% 28.0%
---------------------------------------------------
Estonia 382 405 14.5% 15.5%
---------------------------------------------------
Great Britain 229 312 8.7% 11.9%
---------------------------------------------------
Sweden 146 128 5.5% 4.9%
---------------------------------------------------
Netherlands 51 124 1.9% 4.7%
---------------------------------------------------
Latvia 45 72 1.7% 2.7%
---------------------------------------------------
Ukraine 35 26 1.3% 1.0%
---------------------------------------------------
Lithuania 22 22 0.8% 0.8%
---------------------------------------------------
Germany 18 23 0.7% 0.9%
---------------------------------------------------
India 14 15 0.5% 0.6%
---------------------------------------------------
Other countries 71 72 2.7% 2.7%
---------------------------------------------------
Intragroup 9 90 0.3% 3.4%
---------------------------------------------------
TOTAL 2,631 2,621 100.0% 100.0%
---------------------------------------------------
th EUR Net sales Profit
--------------------------------------------------------------------------
Q2 2013 Q2 2012 Q2 2013 Q2 2012
--------------------------------------------------------------------------
Pärnu Fibreborad factory 1,091 1,266 (125) (24)
--------------------------------------------------------------------------
Püssi Fibreboard factory 889 709 (158) (203)
--------------------------------------------------------------------------
Pärnu interior boards factory (Isotex) 642 556 49 60
--------------------------------------------------------------------------
Not allocated 9 90 0 0
--------------------------------------------------------------------------
TOTAL 2,631 2,631 (234) (167)
--------------------------------------------------------------------------
The net sales of the Pärnu Fibreboard factory and interior board’s line
decreased 5% in the second quarter of 2013 compared to the same quarter of 2012
and amounted to 1.7 mil. euros. Due to fragmented production portfolio the
production efficiency was low in the second quarter.
The turnover of Püssi fibreboard factory amounted to 889 thousand euros growing
25% compared to the same quarter in 2012 and operating loss amounted to 158
thousand euros (turnover 709 thousand euros and operating loss 203 thousand
euros in Q2 2012). Output of Püssi Fibreboard factory grew in the second
quarter but the main challenge is still to secure Püssi Fibreboard factory with
sufficient sales volumes. In the second quarter Püssi factory was operated at
70-80% of its capacity.
It is also important to note that due to high fixed costs, the factory must be,
for a profitable outcome, operated at as high capacity as possible, which shall
ensure a lower average cost of the product.
SKANO FURNITURE
FURNITURE RETAIL SALES
Skano Group AS retail business is operated by a private limited company Skano
Furniture OÜ and its subsidiaries in Latvia, Lithuania and Ukraine. Skano has
totally 9 stores in Tallinn (2), Pärnu, Riga, Vilnius, Kiev (2), Kharkiv and
Dnipropetrovs’k at the end of the second quarter in 2013.
RETAIL SALES BY COUNTRIES
th EUR % of net sales Number of stores
-----------------------------------------------------------------
Q2 2013 Q2 2012 Q2 2013 Q2 2012 30.06.13 30.06.12
-----------------------------------------------------------------
Estonia 308 261 49.8% 45.9% 3 3
-----------------------------------------------------------------
Latvia 67 82 10.8% 14.4% 1 1
-----------------------------------------------------------------
Lithuania 143 64 23.1% 11.2% 1 1
-----------------------------------------------------------------
Ukraine 101 162 16.3% 28.5% 4 4
-----------------------------------------------------------------
TOTAL 619 569 100.0% 100.0% 9 9
-----------------------------------------------------------------
The furniture retail sale amounted to 619 thousand euros in the second quarter
of 2013 and operating loss 3 thousand euros (sales 569 thousand euros and
operating profit 63 thousand euros in Q2 2012). Retail sale increased in
Estonia and Lithuania but decreased in Latvia and Ukraine (-38% in Ukraine
compared to the same period in 2012). In Ukraine the store in Donetsk was
closed due to poor performance and a new store in Kiev was opened instead.
FURNITURE PRODUCTION
The net sales of the Skano Furniture Factory in the second quarter amounted to
1.8 mil. euros and operating profit to 133 thousand euros. In the same period
last year, the turnover of the factory amounted to 2.1 mil. euros and the
profit to 238 thousand euros. As compared to the previous year the turnover of
the factory has decreased 234 thousand euros and the operating profit has
decreased 105 thousand euros. Sales in the second quarter of 2013 decreased in
all regions (except for sales to the subsidiary) due to weak demand of foreign
markets. In the second quarter the sales in Finland decreased the most (-28%)
due to significantly deteriorated economic situation.
FURNITURE FACTORY SALES BY COUNTRIES
th EUR % of net sales
---------------------------------------------------
Q2 2013 Q2 2012 Q2 2013 Q2 2012
---------------------------------------------------
Russia 830 882 45.3% 42.6%
---------------------------------------------------
Finland 601 835 32.8% 40.3%
---------------------------------------------------
Kazakhstan 38 40 2.1% 1.9%
---------------------------------------------------
Estonia 14 10 0.8% 0.5%
---------------------------------------------------
Other countries 12 14 0.7% 0.7%
---------------------------------------------------
Subsidiaries 335 289 18.3% 14.0%
---------------------------------------------------
TOTAL 1,831 2,070 100.0% 100.0%
---------------------------------------------------
FORECAST AND DEVELOPMENT
SKANO FIBREBOARD. The main production line of Pärnu Fibreboard factory was
operating at full capacity in July 2013 and is expected to be fully utilized in
the third quarter of 2013 according to the management forecast. Production
lines of Isotex interior finishing boards are operated at a normal capacity.
Püssi Fibreboard factory was also operating at full capacity in July 2013 and
according to the management forecast will continue operating at full power
throughout the third quarter except for 3-weeks collective vacation and yearly
planned maintenance repair in the second half of August. According to the
forecast the sales of Skano Fibreboard in the third quarter will exceed the
sales of last year.
In spite of weak demand of foreign markets and economic situation in Europe we
are optimistic about sales growth for H2 2013, mostly from Russia and Finland.
Russia’s sales volumes have been growing steadily over the past years and we
expect this to continue in H2 2013. Decrease of our sales in Finland and in
other regions in the first half was mostly caused by deteriorated economic,
which we don’t expect to improve during 2013. Despite of stagnation in Finland
we hope due to a new distribution partner and a strategic cooperation agreement
to increase sales in Finland. We also expect this to help our Pärnu and Püssy
factories to reach higher capacity utilization and as a result of this, expect
the whole production process to become more efficient, lead to lower average
production price and higher sales volumes in H2 2013.
SKANO FURNITURE RETAIL SALES. We expect retail sale in the third quarter of
2013 to exceed slightly the sale of last year primarily due to steady growth in
the Baltics.
SKANO FURNITURE FACTORY. In the third quarter of 2013 we expect small decrease
in sales of the furniture factory compared to the same period in 2012 because
of the deteriorated economic situation in the near region and especially in
Finland. For the second half of 2013 we expect small support from sales to new
markets and namely to Great Britain. Additional sales still won’t compensate
the sales shortage from Finland. In addition to Great Britain we also seek for
possibilities to enter into other markets of Western Europe.
SKANO GROUP AS. On the 13th of August at the Extraordinary General Meeting,
according to the restructuring plan, increase of share capital of newly
established subsidiaries Skano Furniture Factory OÜ and Skano Fibreboard OÜ by
non-monetary contribution was approved. The object of the non-monetary
contribution is the set of assets of the fibreboard and furniture production
units. Skano Group AS will transfer the production unites of fibreboard and
furniture into separate subsidiaries. The non-monetary contribution shall be
finalised 01.09.2013 by the latest. Starting from September the main
activities, production of fibreboard and furniture, are operated under separate
subsidiaries, in Skano Fibreboard OÜ and Skano Furniture Factoru OÜ
respectively. Skano Group AS will remain as a holding company.
FINANCIAL HIGHLIGHTS
th EUR 6 m 2013 6 m 2012 6 m 2011
---------------------------------------------------
Income statement
---------------------------------------------------
Revenue 9,098 9,440 8,336
---------------------------------------------------
EBITDA 86 511 719
---------------------------------------------------
EBITDA margin 0.9% 5.4% 8.6%
---------------------------------------------------
Operating profit (370) 10 427
---------------------------------------------------
Operating margin (4.1%) 0.1% 5.1%
---------------------------------------------------
Net profit (486) (134) 373
---------------------------------------------------
Net margin (5.3%) (1.4%) 4.5%
---------------------------------------------------
----------------------------------------------------
Balance sheet (30.06)
---------------------------------------------------
Total assets 15,256 16,050 13,467
---------------------------------------------------
Return on assets (3.2%) (0.8%) 2.8%
---------------------------------------------------
Equity 7,009 7,532 5,716
---------------------------------------------------
Return on equity (6.9%) (1.8%) 6.5%
---------------------------------------------------
Debt-to-equity ratio 54.1% 53.1% 57.6%
---------------------------------------------------
----------------------------------------------------
Share (30.06)
---------------------------------------------------
Closing price 1.06 1.31 1.74
---------------------------------------------------
Earnings per share (0.11) (0.03) 0.08
---------------------------------------------------
Price-earnings ratio (9.64) (43.67) 21.75
---------------------------------------------------
Book value of a share 1.56 1.67 1.27
---------------------------------------------------
Market to book ratio 0.68 0.78 1.37
---------------------------------------------------
Market capitalization 4,769 5,894 7,828
---------------------------------------------------
EBITDA = Earnings before interest, taxes, depreciation and amortization
EBITDA margin = EBITDA / Revenue
Operating margin = Operating profit / Revenue
Net margin = Net profit / Revenue
Return on assets = Net profit / Total assets
Return on equity = Net profit / Equity
Debt-to-equity ratio = Liabilities / Total assets
Earnings per share = Net profit / Total shares
Price-earnings ratio = Closing price / Earnings per share
Book value of a share = Equity / Total shares
Market to book ratio = Closing price / Book value of a share
Market capitalization = Closing price * Total shares
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
th EUR 30.06.2013 31.12.2012 30.06.2012
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Cash and bank 111 158 174
----------------------------------------------------------------------------
Receivables and prepayments (Note 1) 1,942 1,792 2,116
----------------------------------------------------------------------------
Inventories (Note 2) 3,257 3,303 3,268
----------------------------------------------------------------------------
Total current assets 5,310 5,253 5,558
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Investment property (Note 3) 185 185 185
----------------------------------------------------------------------------
Tangible fixed assets (Note 4) 9,741 10,010 10,294
----------------------------------------------------------------------------
Intangible fixed assets (Note 5) 20 23 13
----------------------------------------------------------------------------
Total fixed assets 9,946 10,218 10,492
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TOTAL ASSETS 15,256 15,471 16,050
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Debt obligations (Note 6) 1,249 1,845 1,277
----------------------------------------------------------------------------
Payables and prepayments (Note 7) 2,419 1,923 2,507
----------------------------------------------------------------------------
Short-term provisions (Note 8) 7 12 5
----------------------------------------------------------------------------
Total current liabilities 3,675 3,780 3,789
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Non-current debt obligations (Note 6) 4,328 3,973 4,490
----------------------------------------------------------------------------
Non-current provisions (Note 8) 244 236 239
----------------------------------------------------------------------------
Total non-current liabilities 4,572 4,209 4,729
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Total liabilities 8,247 7,989 8,518
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Share capital at nominal value (Note 9) 2,699 2,699 2,699
----------------------------------------------------------------------------
Issue premium 364 364 364
----------------------------------------------------------------------------
Statutory capital reserve 288 288 288
----------------------------------------------------------------------------
Currency translation (8) (21) (38)
----------------------------------------------------------------------------
Retained profits 4,152 4,353 4,353
----------------------------------------------------------------------------
Net profit (loss) for the year (Note 10) (486) (201) (134)
----------------------------------------------------------------------------
Total equity 7,009 7,482 7,532
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 15,256 15,471 16,050
----------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME
th EUR 2nd Q 2013 2nd Q 2012 6 m 2013 6 m 2012
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
RETURN ON SALES (Note 11) 4,736 4,881 9,098 9,440
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Cost of production sold (3,999) (4,007) (7,841) (7,941)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Gross profit 737 874 1,257 1,499
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Marketing expenses (649) (592) (1,229) (1,192)
--------------------------------------------------------------------------------
General administrative expenses (180) (199) (387) (309)
--------------------------------------------------------------------------------
Other income 19 54 61 91
--------------------------------------------------------------------------------
Other expenses (31) (29) (72) (79)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Operating profit (loss) (Note 11) (104) 108 (370) 10
--------------------------------------------------------------------------------
Financial income and financial (60) (67) (115) (134)
expenses
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Profit (loss) before taxes (164) 41 (485) (124)
--------------------------------------------------------------------------------
Prepaid income tax 0 (2) (1) (10)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
NET PROFIT (LOSS) FOR THE PERIOD (164) 39 (486) (134)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Basic earnings per share (Note 10) (0.04) 0.01 (0.11) (0.03)
--------------------------------------------------------------------------------
Diluted earnings per share (Note 10) (0.04) 0.01 (0.11) (0.03)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Other comprehensive income:
--------------------------------------------------------------------------------
Currency translation differences 3 (36) 13 (27)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL COMPREHENSIVE INCOME (161) 3 (473) (161)
--------------------------------------------------------------------------------
The planned time of publishing of interim report of the third quarter 2013 is
week 48 (25-29 November 2013)
Martin Kalle
CF0
+372 4478 331
[email protected]
www.skano.com