Market announcement
TKM Grupp AS
LEI code
529900785KF1K0EEW940
Size of the entity
Large group
Economic activities
Financial and Insurance Activities
Country of registered office
Estonia
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
4941
Attachments
Submission date and time
15.04.2015 16:30:01
Content of announcement in Estonian
Title
2015. aasta I kvartali auditeerimata majandustulemused
Message
Segmendid (EURm) Q1/15 Q1/14 yoy
--------------------------------------
Supermarketid 86,3 82,4 4,7%
Kaubamaja 21,8 20,6 5,8%
Autokaubandus 12,3 12,4 -0,8%
Jalatsikaubandus 2,2 3,4 -34,3%
Kinnisvara 0,8 0,8 0,1%
Müügitulud kokku 123,5 119,7 3,2%
--------------------------------------
Supermarketid -1,2 -1,0 13,1%
Kaubamaja -1,3 -0,4 205,2%
Autokaubandus 0,0 -0,5 -91,1%
Jalatsikaubandus -0,7 -0,8 -7,5%
Kinnisvara 2,1 2,1 0,2%
Puhaskasum kokku -1,2 -0,6 88,8%
--------------------------------------
Tallinna Kaubamaja Grupi 2015. aasta I kvartali konsolideeritud auditeerimata
müügitulu oli 123,5 miljonit eurot. Võrreldes 2014. aasta I kvartaliga, mil
müügitulu oli 119,7 miljonit eurot, oli kasv 3,2%. Müügitulu kasvas mahult
olulisemates grupi segmentides, aasta varasemale müügitulemusele jäid alla
autokaubandus ja jalatsisegment. Aruandeperioodi puhaskahjumiks kujunes 1,2
miljonit eurot seoses dividendidelt arvestatud tulumaksuga summas 3,9 miljonit
eurot. 2014. aasta esimese kvartali kahjum oli 0,6 miljonit eurot, sealhulgas
tulumaks 1,3 miljonit eurot. Maksueelseks kasumiks kujunes aasta varasemaga
võrreldes kolm korda suurem kasum summas 2,7 miljonit eurot.
I kvartalis saavutatud müügitulu kasv järgis kogu Eesti jaeturu rütmi.
Ootuspäraselt oli pärast 2014. aasta novembris toimunud ostubuumi väikses
languses autosegmendi käive. Samuti langes nii konkurentsi terava tihenemise
kui segmendi lipulaeva kaupluste ümberkorralduste tõttu
jalatsikaubandussegmendi käive. Juba mitmendat aastat järjest on moekaupade
müüki hoidnud tagasi soe talv, võimaldades klientidel vältida talveriiete ja
–jalatsite soetamist ja survestades sellega talvekaupade allahindluse tõttu
marginaale. Kokkuvõttes on grupi marginaal aga kosunud tänu mahukamate
segmentide kaubandusjuhtimise paranemisele koos kaubandussüsteemi edukama
rakendamisega. Maksueelse kasumi kasvu on toetanud tööjõu- kui halduskulude
kontrolli all hoidmine. Viimast abistasid pisut soodsamad energiahinnad. Lisaks
tõi uue kaubandustarkvara käivitusperioodi lõppemine kaasa täiustatud
kaubandusprotsessid ning efektiivsema tööjõu kasutuse.
Selverid
Supermarketite ärisegmendi 2015. aasta I kvartali konsolideeritud müügitulu oli
86,3 miljonit eurot, kasvades aasta varasema perioodiga võrrelduna 4,7%.
Supermarketite segmendi konsolideeritud maksueelne kasum oli 2015. aasta I
kvartalis 1,0 miljonit eurot, millest Eestis teenitud kasum moodustas 1,7
miljonit eurot, kasvades võrrelduna aasta varasema tulemusega 1,7 miljonit
eurot. Supermarketite segmendi konsolideeritud puhaskahjum oli 1,2 miljonit
eurot, olles eelmise aasta tulemist 0,1 miljoni euro võrra suurem. Eestis
teenitud puhaskahjum oli 2015. aasta I kvartalis 0,6 miljonit eurot, olles
aasta varasemast 0,1 miljonit eurot suurem. Puhaskasumi ja tulumaksueelse
kasumi erinevus tuleneb dividendidelt makstud tulumaksult - 2014. aastal oli
dividendide tulumaks summas 0,4 miljonit eurot, 2015. aastal aga 2,2 miljonit
eurot. 2015. aasta I kvartali käibe kasvu on toetanud edukad
turunduskampaaniad. 2014. aasta võrdlusbaasis ei sisaldu veel 2014. aasta
juunis avatud Astri Selverit, mille lisandumine on samuti käibe kasvule mõju
avaldanud. Positiivne on, et jätkuvalt tihenevas konkurentsiolukorras, kus
pidevalt avatakse uusi kauplusi, on kliendid püsinud Selverile lojaalsena. Seda
kinnitab ostude arvu püsimine eelmise aasta tasemel. Klientide keskmine ost on
aga suurenenud. Tegevused kaupade sortimendi osas on vastanud klientide
ootustele. Eestis teenitud kasumile on eelkõige mõju avaldanud suurema
efektiivsuse saavutamine põhiprotsessi, ehk kaupade müügi osas. Oskuslikumalt
on juhitud varusid, mille tulemusena on oluliselt alanenud kaupade allahindluse
ja mahakandmise vajadus. Tegevuskulude osas on suudetud hoida eelmise aasta
kuluefektiivset taset. Paranenud on tööjõuefektiivsuse näitajad.
Kaubamajad
Kaubamajade ärisegmendi 2015. aasta esimese 3 kuu müügitulu oli 21,8 miljonit
eurot, kasvades eelmise aasta sama perioodiga võrreldes 5,8%. Kaubamajade 2015.
aasta esimese kvartali maksueelne kahjum oli 0,2 miljonit eurot, mis oli
aastatagusest tulemusest madalam 0,2 miljoni euro võrra. Kaubamajade tulemust
mõjutasid negatiivselt läbi aegade soojemad talvekuud, mis pärssisid
ülerõivaste müüke. Arvestades Kaubamajade linna keskmes positsioneeruvaid
asukohti, mõjutas esimese kvartali müügitulu negatiivselt aasta alguses
rekordiliselt madal turistide külastatavus. I.L.U. kosmeetikakauplusi
opereeriva OÜ TKM Beauty Eesti 2015. aasta I kvartali müügitulu oli 1,1
miljonit eurot, kasvades 2014. aasta sama perioodiga võrreldes 8,9%. Esimeses
kvartalis oli kahjum 0,1 miljonit eurot, mis oli 2014. aasta võrreldava
perioodi kahjumist väiksem 6,4%. Esimese kvartali müügitulu mõjutasid
positiivselt edukad müügikampaaniad ja Ülemiste keskuse kaupluse atraktiivsem
asukoht ning klientide ootustele vastavam sortiment võrreldes aastataguse
perioodiga.
Autokaubandus
Autokaubandussegmendi 2015. aasta esimese kvartali müügitulu oli 12,3 miljonit
eurot. Müügitulu jäi kvartali kokkuvõttes 0,8% alla eelmise aasta sama perioodi
tuludele, sealhulgas kasvas siiski KIAde müügitulu 6,2%. Aasta esimesel kolmel
kuul müüdi kokku 565 uut sõidukit. Segmendi 2015. aasta esimese kvartali
maksueelne kasum oli 0,5 miljonit eurot, kasvades aasta varasemaga võrreldes
ligi seitse korda. Aasta varasem kasum oli tavapärasest nõrgem suure
fleet-müügi osakaalu tõttu. Veebruari lõpus saabus müügile KIA Sorento uus
mudel, mis kogus kohe klientide hulgas populaarsust.
Jalatsikaubandus
Jalatsikaubanduse müügitulu 2015. aasta I kvartalis oli 2,2 miljonit eurot,
langedes võrreldes 2014. aasta sama perioodiga 34,3%. Samas vähenes 2015. aasta
I kvartali kahjum 7,5% võrreldes 2014. aasta I kvartali kahjumiga. Müügitulu
langus on ühelt poolt seotud talvehooajale ebatraditsiooniliste
ilmastikuoludega, mis ei soosinud soojade talvesaabaste müüki, mõjutades
sellega negatiivselt nii müügitulu kui marginaali. Teisalt kergitavad
võrdlusbaasi 2014. aasta I kvartalis toimunud Viru keskuse SHU ja ABC Kinga
kaupluste edukad lõpumüügid. Tänaseks ei ole Viru keskuse uuenenud jalatsi
piirkond käivitunud veel loodetud tasemel. Jalatsikaubanduse segment on
uuendamas oma sortimenti ja brändiportfelli. Sellega seotult lansseeritakse uut
tüüpi turunduskampaaniad ning pööratakse erilist tähelepanu teeninduskvaliteedi
parandamisele, millega astuda vastu eelmisel aastal tervikuna Eesti
jalatsiturul toimunud olulisele konkurentsisituatsiooni tihenemisele.
Kinnisvarad
Kinnisvarade ärisegmendi 2015. aasta I kvartali kontserniväline müügitulu oli
0,8 miljonit eurot, mis on 0,2% enam, kui eelmise aasta samal perioodil.
Kinnisvarasegmendi 2015. aasta I kvartali maksueelseks ja puhaskasumiks kujunes
2,1 miljonit eurot, mis on samal tasemel eelmise majandusaasta samal perioodi
tulemusega. Tulu ja kasumi kasvu on pidurdanud 2015. aasta alguses Tartu
Kaubamaja müügikeskkonna kaasajastamiseks alustatud ulatuslikud
renoveerimistööd. 2015. sügisel on kavas avada Viimsi kaubandus- ja
meelelahutuskeskus.
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
Tuhandetes eurodes
31.03.2015 31.12.2014
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
VARAD
Käibevara
Raha ja pangakontod 22 880 24 626
Nõuded ja ettemaksed 11 186 17 938
Varud 62 292 56 876
--------------------------------------------------------------------------------
Käibevara kokku 96 358 99 440
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Põhivara
Pikaajalised nõuded ja ettemaksed 338 338
Sidusettevõtjad 1 825 1 778
Kinnisvarainvesteeringud 3 035 3 035
Materiaalne põhivara 227 925 227 914
Immateriaalne põhivara 10 276 10 402
Põhivara kokku 243 399 243 467
--------------------------------------------------------------------------------
VARAD KOKKU 339 757 342 907
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Lühiajalised kohustused
Võlakohustused 15 166 20 405
Võlad ja ettemaksed 84 645 70 317
Lühiajalised kohustused kokku 99 811 90 722
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Pikaajalised kohustused
Võlakohustused 82 880 77 663
Pikaajalised eraldised ja ettemakstud tulevaste 692 692
perioodide tulud
--------------------------------------------------------------------------------
Pikaajalised kohustused kokku 83 572 78 355
--------------------------------------------------------------------------------
KOHUSTUSED KOKKU 183 383 169 077
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Omakapital
Aktsiakapital 16 292 16 292
Kohustuslik reservkapital 2 603 2 603
Ümberhindluse reserv 66 795 67 159
Konverteerimiserinevused -255 -255
Jaotamata kasum 70 939 88 031
OMAKAPITAL KOKKU 156 374 173 830
--------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 339 757 342 907
--------------------------------------------------------------------------------
KONSOLIDEERITUD KOONDKASUMIARUANNE
Tuhandetes eurodes
3 kuud 3 kuud
2015 2014
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Müügitulu 123 458 119 651
Muud äritulud 231 148
Müüdud kaubad, kasutatud materjalid ja teenused -93 035 -91 525
Mitmesugused tegevuskulud -12 924 -13 060
Tööjõukulud -11 716 -11 251
Põhivara kulum ja väärtuse langus -2 849 -2 710
Muud ärikulud -229 -264
--------------------------------------------------------------------------------
Ärikasum 2 936 989
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finantstulud 8 5
Finantskulud -283 -333
Kasum sidusettevõtja aktsiatelt 47 46
--------------------------------------------------------------------------------
Kasum enne tulumaksustamist 2 708 707
--------------------------------------------------------------------------------
Tulumaks -3 873 -1 324
--------------------------------------------------------------------------------
Aruandeperioodi puhaskahjum -1 165 -617
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum
Kirjed, mida võidakse edaspidi ümberklassifitseerida
kasumiaruandesse
--------------------------------------------------------------------------------
Konverteerimiserinevused 0 2
--------------------------------------------------------------------------------
Aruandeperioodi muu koondkasum kokku 0 2
--------------------------------------------------------------------------------
ARUANDEPERIOODI KOONDKAHJUM -1 165 -615
--------------------------------------------------------------------------------
Raul Puusepp
Juhatuse esimees
Tel 731 5000
Content of announcement in English
Title
Unaudited consolidated interim accounts for the first quarter of 2015
Message
Segments (EURm) Q1/15 Q1/14 yoy
---------------------------------------
Supermarkets 86.3 82.4 4.7%
Department stores 21.8 20.6 5.8%
Cars 12.3 12.4 -0.8%
Footwear 2.2 3.4 -34.3%
Real Estate 0.8 0.8 0.1%
Total sales 123.5 119.7 3.2%
---------------------------------------
Supermarkets -1.2 -1.0 13.1%
Department stores -1.3 -0.4 205.2%
Cars 0.0 -0.5 -91.1%
Footwear -0.7 -0.8 -7.5%
Real Estate 2.1 2.1 0.2%
Total net profit -1.2 -0.6 88.8%
---------------------------------------
The unaudited consolidated sales revenue of the 1st quarter of 2015 of the
Tallinna Kaubamaja Group was 123.5 million euros. Compared to the 1st quarter
of 2014, when the sales revenue was 119.7 million euros, the growth was 3.2%.
In volume, sales revenue grew in the most important segments of the Group,
while the car trade and footwear segments fell short of the sales results of
the previous year. The net loss of the accounting period was 1.2 million euros
due to income tax calculated from dividends to the amount of 3.9 million euros.
The loss of the first quarter of 2014 was 0.6 million euros, including income
tax of 1.3 million euros. The pre-tax profit was a profit three times larger
than that of the previous year, to the amount of 2.7 million euros.
The growth in sales revenue achieved in the 1st quarter followed the pace of
the entire Estonian retail market. As predicted, the turnover of the cars’
segment was in a slight decline, following the shopping boom in November of the
previous year. The turnover of the footwear trade’s segment also decreased due
to sharp increase in competition and the rearrangement of the segment’s
flagship store. For several years in a row, the sales of fashion items have
been held back by a warm winter, which allows the customers to avoid purchasing
winter clothes and footwear and puts more pressure on margins due to discounts
of winter goods. Overall, the Group’s margin has recovered, owing to
improvement in commercial management of larger segments, along with a more
competent implementation of the trading system. Increase in pre-tax profit has
been supported by controlling the labour and administration costs. The latter
was boosted by slightly lower energy prices. Additionally, the end of the
introduction period of a new commercial software lead to improved trade
processes and a more effective use of the workforce.
Selver supermarkets
The consolidated sales revenue of the 1st quarter of 2015 of the supermarkets
was 86.3 million euros, having increased by 4.7% compared to the period of the
previous year. The consolidated pre-tax profit of the supermarkets’ segment was
1.0 million euros in the 1st quarter of 2015, whereof profit earned in Estonia
formed 1.7 million euros, having increased by 1.7 million euros compared to the
previous year. The consolidated net loss of the supermarkets segment was 1.2
million euros, having increased by 0.1 million euros compared to the result of
the previous year. Net loss earned in Estonia was 0.6 million euros in the 1st
quarter of 2015, having increased by 0.1 million euros compared to the previous
year. The difference between the net income and the profit before income tax
arises from the income tax paid from dividends – in 2014, the income tax of
dividends was 0.4 million euros; in 2015, it was 2.2 million euros. Increase in
sales of the 1st quarter of 2015 has been supported by successful marketing
campaigns. The 2014 comparison basis does not yet include Astri Selver, opened
in June 2014, the addition of which has also influenced increase in turnover. A
positive aspect is that in an increasingly tightening competition situation,
where new stores are being opened continuously, customers have remained loyal
to Selver. This is also affirmed by the number of purchases, which has remained
on the same level as the previous year. Average purchase of customers has
increased. Activities regarding the assortment of goods have met the
expectations of customers. In Estonia, the greatest impact on the profit earned
has been the achievement of more efficiency regarding the main process,
especially the sale of goods. Stock has been managed more capably, and as a
result, the need for discounting and writing off goods has decreased. The
cost-effective level of the previous year has been maintained regarding
operating costs. Labour productivity indicators have improved.
Department stores
The sales revenue of the first three months of 2015 of the department stores’
business segment was 21.8 million euros, having increased by 5.8% compared to
the same period in the previous year. The pre-tax loss of the 1st quarter of
2015 of department stores was 0.2 million euros, which was 0.2 million euros
lower than the result of the previous year. The outcome of department stores
was affected negatively by warm winter months compared to the previous years,
inhibiting the sales of outwear. Considering the locations of department stores
in town centres, the record-low number of tourists negatively affected the
sales revenue of the first quarter. The sales revenue of the 1st quarter of
2015 of OÜ TKM Beauty Eesti, which operates the I.L.U. cosmetics stores, was
1.1 million euros, having increased by 8.9% compared to the same period in
2014. Loss of the 1st quarter was 0.1 million euros, which was 6.4% smaller
than the loss of the same period in 2014. The sales revenue of the first
quarter was affected positively by successful sales campaigns, a more
attractive store location in Ülemiste centre, and an assortment, which was more
in line with the customers’ expectations compared to the period from the
previous year.
Car Trade
The sales revenue of the 1st quarter of 2015 of the car trade’s segment was
12.3 million euros. The sales revenue fell short of the revenue of the same
period of the previous year by 0.8%, while the sales revenue of KIAs still
increased by 6.2%. Altogether 565 new vehicles were sold in the first three
months of the year. The pre-tax profit of the first quarter of 2015 of the
segment was 0.5 million euros, having increased nearly seven times compared to
the previous year. The profit of the previous year was weaker than usual due to
a large percentage of fleet sales. At the end of February, the new model of KIA
Sorento has arrived for sale, which immediately gained popularity among the
clients.
Footwear trade
The sales revenue of the 1st quarter of 2015 of footwear trade was 2.2 million
euros, having decreased by 34.3% compared to the same period in 2014.
Meanwhile, the loss of the 1st quarter in 2015 decreased by 7.5% compared to
the loss of the 1s quarter in 2014. On the one hand, decrease in sales revenue
was connected to unconventional weather conditions of the winter season, which
did not promote the sales of warm winter boots, thus negatively affecting both
the sales revenue and margin. On the other hand, the comparison basis was
raised by the successful closing sales of SHU and ABC King stores at Viru
centre in the first quarter of 2014. To date, the renewed footwear area of Viru
centre has not launched in the desired level. The footwear trade segment is
renewing its assortment and brand portfolio. In relation to that, it is
launching new types of marketing campaigns and paying special attention to
improving service quality, with which to face the significantly tightening
competition situation that has occurred in the Estonian footwear market as a
whole in the previous year.
Real Estate
The sales revenue of the 1st quarter of 2015 of real estate outside the Group
was 0.8 million euros, which is 0.2% more than the same period in the previous
year. The pre-tax and net profit of the 1st quarter of 2015 of the real estate
segment was 2.1 million euros, which is on the same level as the results of the
same period of the previous monetary year. The extensive renovation works of
Tartu Kaubamaja, which were started in 2015 to modernise the sales environment,
have inhibited revenue and growth. The Viimsi shopping and entertainment centre
is planned to open in the August of 2015.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
In thousands of euros
31.03.2015 31.12.2014
--------------------------------------------------------------------
ASSETS
--------------------------------------------------------------------
Current assets
Cash and cash equivalents 22,880 24,626
Trade and other receivables 11,186 17,938
Inventories 62,292 56,876
Total current assets 96,358 99,440
--------------------------------------------------------------------
Non-current assets
Long-term trade and other receivables 338 338
Investments in associates 1,825 1,778
Investment property 3,035 3,035
Property, plant and equipment 227,925 227,914
Intangible assets 10,276 10,402
Total non-current assets 243,399 243,467
--------------------------------------------------------------------
TOTAL ASSETS 339,757 342,907
--------------------------------------------------------------------
LIABILITIES AND EQUITY
--------------------------------------------------------------------
Current liabilities
Borrowings 15,166 20,405
Trade and other payables 84,645 70,317
Total current liabilities 99,811 90,722
--------------------------------------------------------------------
Non-current liabilities
Borrowings 82,880 77,663
Provisions for other liabilities and charges 692 692
--------------------------------------------------------------------
Total non-current liabilities 83,572 78,355
TOTAL LIABILITIES 183,383 169,077
--------------------------------------------------------------------
Equity
Share capital 16,292 16,292
Statutory reserve capital 2,603 2,603
Revaluation reserve 66,795 67,159
Currency translation differences -255 -255
Retained earnings 70,939 88,031
TOTAL EQUITY 156,374 173,830
--------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 339,757 342,907
--------------------------------------------------------------------
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
In thousands of euros
3 3 months
months 2014
2015
--------------------------------------------------------------------------------
Revenue 123,458 119,651
Other operating income 231 148
Cost of sales -93,035 -91,525
Other operating expenses -12,924 -13,060
Staff costs -11,716 -11,251
Depreciation, amortisation and impairment losses -2,849 -2,710
Other expenses -229 -264
--------------------------------------------------------------------------------
Operating profit 2,936 989
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Finance income 8 5
Finance costs -283 -333
Finance income on shares of associates 47 46
--------------------------------------------------------------------------------
Profit before tax 2,708 707
--------------------------------------------------------------------------------
Income tax expense -3,873 -1,324
--------------------------------------------------------------------------------
NET LOSS FOR THE FINANCIAL YEAR -1,165 -617
--------------------------------------------------------------------------------
Other comprehensive income:
Items that may be subsequently reclassified to profit or
loss
Currency translation differences 0 2
--------------------------------------------------------------------------------
Other comprehensive income for the financial year 0 2
--------------------------------------------------------------------------------
TOTAL COMPREHENSIVE LOSS FOR THE FINANCIAL YEAR -1,165 -615
--------------------------------------------------------------------------------
Raul Puusepp
Chairman of the Board
Phone +372 731 5000