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
6261
Attachments
Submission date and time
30.08.2017 19:44:26
Content of announcement in Estonian
Title
Skano Group AS II kvartali aruanne
Message
KOKKUVÕTE
Skano Group AS kontserni põhitegevuseks on ehitusmaterjalide ja mööbli tootmine
ning Skano Group AS kontserni põhitegevuseks on ehitusmaterjalide ja mööbli
tootmine ning mööbli ja sisustuskaupade jaekaubandus. Skano Group AS on
valdusettevõte, mis omab 100%-liselt alljärgnevaid tütarettevõtteid:
Tütarettevõte Asukoht
Tegevusala
Skano Fibreboard OÜ Eesti
Kiudplaatide tootmine ja müük
Suomen Tuulileijona Oy Soome
Kiudplaatide müük
Skano Furniture Factory OÜ Eesti
Mööbli tootmine ja müük
Skano Furniture OÜ Eesti
Mööbli jaemüük
SIA Skano Läti
Mööbli jaemüük
UAB Skano LT Leedu
Mööbli jaemüük
2017. aasta märtsikuus müüdi Ukraina tütarettevõte, mis tegeles mööbli
jaemüügiga.
Skano Fibreboard OÜ toodab ja müüb kahte pehmetel puitkiudplaatidel baseeruvat
tootekategooriat: soojus- ja heliisolatsiooni otstarbel kasutatavaid
üldehitusplaate ning seinte ja lagede siseviimistlusplaate. Suomen
Tuulielijona OY on puitkiudplaatide edasimüüja Soomes.
Skano Furniture Factory OÜ toodab täispuidust omanäolist keskmisest kallima
hinnaklassi kodusisustusmööblit. Skano Furniture OÜ on jaekaubandusettevõte
mööblikauplustega Baltikumis ja Ukrainas.
Kontserni peamisteks turgudeks on Skandinaavia, Venemaa, Lõuna Aafrika
Vabariik, Portugal ning Baltikum.
Skano Group AS on noteeritud Tallinna Börsil alates 5. juunist 1997.
Seisuga 30.06.2017 töötas grupis 225 inimest (30.06.2016: 295 inimest).
Skano Group AS II kvartali puhaskasum oli 15 tuhat eurot (I kvartal 2016:
puhaskahjum 268 tuhat eurot), esimese poolaasta kasum oli 103 tuhat eurot (I
poolaasta 2016: kahjum 624 tuhat eurot). 2017. aasta I poolaasta tulemusele
avaldas mõju Ukraina jaekaubanduse ettevõtte müügist saadud ühekordne kasum
summas 48 tuhat eurot.
Skano Group AS’i 2017. aasta II kvartali konsolideeritud müügitulu oli 4,03 mln
eurot, mis on 9% vähem kui 2016. aasta samal perioodil (4,43 mln eurot). Kui
välja arvata müük Soome, siis ülejäänud turgude müük kokku kasvas 2017. aasta
II kvartalis 5% võrrelduna 2016. aasta II kvartaliga.
Kontserni 2017. aasta I poolaasta müük enne intressikulu, maksukulu ja
amortisatsiooni (EBITDA) oli oli 660 tuhat eurot (2016. aasta samal perioodil
negatiivne 23 tuhat eurot), mis moodustas 8% müügitulust.
Kiudplaadi tootmise ja müügi ärisegmendi müügitulu oli 2017. aasta II kvartalis
2,85 mln eurot. I poolaastal müügitulu oli 6,11 mln eurot, mis on 4% vähem kui
2016. aasta samal perioodil. Ilma Soome müügita oli kiudplaadi müügitulu kasv
6% võrreldes 2016. aasta sama perioodiga, sealjuures märkimisväärne oli müügi
kasv Lõuna Aafrika Vabariiki, Taisse ja Rootsi. Soome turg tervikuna on
näitamas taastumise märke ning ootame Soome müügi paranemist 2017. aata II
poolaastal. 2017. aasta I poolaasta ärikasum oli 185 tuhat eurot (I poolaasta
2016: ärikahjum 85 tuhat eurot).
Mööbli tootmise ja hulgimüügi ärisegmendi müügitulu 2017. aasta II kvartalis
oli 0,92 mln eurot. I poolaasta müügitulu oli kokku 1,88 mln eurot, mis on 9%
vähem kui eelmise aasta samal perioodil. Müük Soome ja Venemaale kahanes, samas
kui müük ülejäänud turgudele kasvas 49%. 2017. aasta I poolaasta ärikahjum oli
29 tuhat eurot (I poolaastal 2016 ärikahjum 293 tuhat eurot).
Skano jaemüügi käive oli 2017. aasta II kvartalis 0,5 mln eurot. Müügikäive I
poolaastal 2017 oli 1.07 mln eurot, mis oli 2016. aasta sama perioodi tasemel.
Baltikumi jaekaubanduse käive (ilma Ukraina ärita, mis müüdi 2017. aasta I
kvartalis) oli 5% suurem kui 2016. aasta samal perioodil. 2017. aasta I
poolaasta ärikasum oli 100 tuhat eurot (2016 I poolaasta: ärikahjum 100 tuhat
eurot).
FINANTSSEISUNDI ARUANNE
Kontserni koguvarade maht oli 30.06.2017 seisuga 12,2 mln eurot (30.06.2016:
13,0 mln eurot) ning ettevõtte kohustused moodustasid 30.06.2017 seisuga 8,2
mln eurot (30.06.2016: 8,7 mln eurot).
Nõuded ja ettemaksud olid seisuga 30.06.2017 1,4 mln eurot (30.06.2016: 1,5 mln
eurot). Varud on seisuga 30.06.2017 2,9 mln eurot (30.06.2016: 3,1 mln eurot).
Materiaalne ja immateriaalne põhivara seisuga 30.06.2017 oli 7,6 mln eurot
(31.03.2016: 8,4 mln eurot).
Kohustused kokku moodustasid 8,8 mln eurot seisuga 31.03.2017 (30.06.2016: 8.3
mln eurot).
VÄLJAVAATED TULEVIKUKS
Kiudplaadi müük paraneb, välja arvatud Soome. Teeme koostööd agentidega
Saksamaal, Tsehhi Vabariigis, Slovakkias ja Poolas, kes on alustanud tööd
tellimuste tegemisel. Täiendavalt oleme sisenenud Tai turule ja meie esimeseks
kliendiks sealsel kasvaval turul on suur ehitusettevõte. Loodame endiselt, et
Soome turu olukord paraneb ja oleme planeerinud selleks sügiseks kliendi
kampaaniaid.
Mööbli hulgimüügi väljakutseks on laiendada müüki väljaspool seniseid põhiturge
Soomes ja Venemaal. Mööbli jaemüük on alustanud aastat hästi ja loodame, et
ostjate positiivne ostutrend Balti turgudel jätkub, mis kindlustab meie kuue
kaupluse arendu kolmes Balti riigis.
ÄRIVALDKONDADE ÜLEVAADE
MÜÜK SEGMENTIDE LÕIKES:
----------------------------
tuh EUR % käibest
-----------------------------------
6k 2017 6k 2016 6k 2017 6k 2016
---------------------------------------------------------------
Kiudplaadi tootmine ja müük 6 113 6 359 72,0% 70,8%
---------------------------------------------------------------
Mööbli tootmine ja müük 1 876 2 137 22,1% 23,8%
---------------------------------------------------------------
Mööbli jaemüük Baltikum 1007 959 11,9% 10,7%
---------------------------------------------------------------
Mööbli jaemüük Ukraina 64 115 0,8% 1,3%
---------------------------------------------------------------
Grupi tehingud (573) (593) (6,8%) (6,6%)
---------------------------------------------------------------
KOKKU 8 487 8 977 100,0% 100,0%
---------------------------------------------------------------
MÜÜK RIIKIDE LÕIKES:
--------------
th EUR % käibest
-------------------------------------
6k 2017 6k 2016 6k 2017 6k 2016
---------------------------------------------------
Soome 2 867 3 529 33,8% 39,3%
---------------------------------------------------
Eesti 1 613 1 461 19,0% 16,3%
---------------------------------------------------
Venemaa 1 255 1 297 14,8% 14,4%
---------------------------------------------------
Rootsi 456 324 5,4% 3,6%
---------------------------------------------------
Läti 393 172 4,6% 1,9%
---------------------------------------------------
Lõuna-Aafrika 363 374 4,3% 4,2%
---------------------------------------------------
Portugal 265 429 3,1% 4,8%
---------------------------------------------------
Leedu 210 560 2,5% 6,2%
---------------------------------------------------
Ukraina 180 163 2,1% 1,8%
---------------------------------------------------
Suurbritannia 170 162 2,0% 1,8%
---------------------------------------------------
Tai 116 - 1,4% -
---------------------------------------------------
Holland 115 17 1,4% 0,2%
---------------------------------------------------
Saksamaa 76 73 0,9% 0,8%
---------------------------------------------------
Taani 64 79 0,8% 0,9%
---------------------------------------------------
Kasahstan 47 43 0,6% 0,5%
---------------------------------------------------
Araabia ÜE 36 70 0,4% 0,8%
---------------------------------------------------
Austraalia 33 27 0,4% 0,3%
---------------------------------------------------
Ungari 31 25 0,4% 0,3%
---------------------------------------------------
Saudi-Araabia 27 36 0,3% 0,4%
---------------------------------------------------
Teised riigid 170 136 1,8% 1,5%
---------------------------------------------------
TOTAL 8 487 8 977 100% 100%
---------------------------------------------------
Skano põhiturud Soome, Eesti ja Venemaa moodustavad 68% kogu grupi 2017. aasta
I poolaasta müügimahust. Samuti oleme sisenenud uutele turgudele Tais
(ehitusplaadid) ja suurendanud turuosa Rootsis (ehitusplaadid).
KASUM SEGMENTIDE LÕIKES:
tuh EUR 6k 2017 6k 2016
-------------------------------------------------------------------
Kiudplaadi tootmine ja müük 185 (85)
-------------------------------------------------------------------
Mööbli tootmine (29) (293)
-------------------------------------------------------------------
Mööbli jaemüük Baltikum 49 (46)
-------------------------------------------------------------------
Mööbli jaemüük Ukraina (ka. müügiga seotud kasum) 51 (54)
-------------------------------------------------------------------
Elimineerimine (12) 23
-------------------------------------------------------------------
KOKKU ÄRIKASUM/-KAHJUM 244 (455)
-------------------------------------------------------------------
Neto finantskulud (141) (166)
-------------------------------------------------------------------
Tulumaksukulu - (3)
-------------------------------------------------------------------
PUHASKASUM 103 (624)
-------------------------------------------------------------------
Kiudplaadi tootmise ja müügi äriüksuse kasumit aitas suurendada keskendumine
paksemate plaatide tootmisele, mis on kasumlikumad. Mööbli tootmine ja müük
(koos jaemüügiga) näitavad positiivset tulemust ning teevad seda ka tulevikus,
kui müügid jäävad samale tasemele.
KIUDPLAADI TOOTMINE JA MÜÜK
Skano Fibreboard müügitulu oli 2017 aasta I poolaastal 6,11 mln eurot, mis on
veidi vähem kui eelmisel aastal samal perioodil (6,36 mln eurot). Samas on
ärikasum 2017. aasta I poolaastal oluliselt suurem kui 2016. aasta I
poolaastal kasvades 85 tuhande euroselt ärikahjumilt 185 tuhande eurose
ärikasumini.
Olulist müügi kasvu näitas müük Lõuna Aafrika Vabariiki, Rootsi ja Taisse,
samas kui suurim langus oli müügis Soome ja Suurbritanniasse.
KIUDPLAADI MÜÜK RIIKIDE LÕIKES:
--------------
th EUR % käibest
-----------------------------------
6k 2017 6k 2016 6k 2017 6k 2016
-------------------------------------------------
Soome 2 292 2 743 37,5% 43,1%
-------------------------------------------------
Eesti 949 861 15,5% 13,5%
-------------------------------------------------
Venemaa 620 584 10,1% 9,2%
-------------------------------------------------
Rootsi 456 324 7,5% 5,1%
-------------------------------------------------
Lõuna-Aafrika 363 172 5,9% 2,7%
-------------------------------------------------
Läti 195 175 3,2% 2,8%
-------------------------------------------------
Portugal 265 429 4,3% 6,7%
-------------------------------------------------
Suurbritannia 158 546 2,6% 8,6%
-------------------------------------------------
Ukraina 102 48 1,7% 0,8%
-------------------------------------------------
Leedu 91 53 1,5% 0,8%
-------------------------------------------------
Tai 116 - 1,9% 0,0%
-------------------------------------------------
Holland 115 17 1,9% 0,3%
-------------------------------------------------
Saksamaa 47 73 0,8% 1,1%
-------------------------------------------------
Taani 64 79 1,0% 1,2%
-------------------------------------------------
Araabia 36 70 0,6% 1,1%
-------------------------------------------------
Austraalia 33 27 0,5% 0,4%
-------------------------------------------------
Ungari 31 23 0,5% 0,4%
-------------------------------------------------
Saudi-Araabia 27 36 0,4% 0,6%
-------------------------------------------------
Teised Riigid 153 99 2,6% 1,5%
-------------------------------------------------
TOTAL 6 113 6 359 100% 100%
-------------------------------------------------
MÖÖBLI TOOTMINE JA MÜÜK
MÖÖBLI TOOTMINE
Müük on vähenenud 1,88 mln euroni 2017. aasta I poolaastal võrrelduna 2,03 mln
euroga 2016. aasta I poolaastal. Suurim langus on seotud Soome turuga, kus meie
olulisimal ostjal on äriliselt rasked ajad. Venemaa müük oli veidi väiksem kui
eelmisel aastal samal ajal, samas müük Kasahstani ja Saksamaale aitas
suurendada müüki väljaspoole seniseid põhiturge Soomes ja Venemaal.
Müük jaemüügi äriüksusele oli kergelt tõusus ning aitas suurendada mööbli müüki
grupis.
MÖÖBLIVABRIKU MÜÜK RIIKIDE LÕIKES:
---------------------------
tuh EUR % käibest
-----------------------------------
6k 2017 6k 2016 6k 2017 6k 2016
--------------------------------------------------------------
Soome 575 786 30,7% 36,8%
--------------------------------------------------------------
Venemaa 635 713 33,8% 33,4%
--------------------------------------------------------------
Teised riigid 155 104 8,3% 4,8%
--------------------------------------------------------------
Müük grupi jaekaubandusele 511 534 27,2% 25,0%
--------------------------------------------------------------
KOKKU 1 876 2 137 100% 100%
--------------------------------------------------------------
MÖÖBLI JAEMÜÜK
Mööbli jaemüügi käive oli 2017. aasta I poolaastal 1,07 mln eurot. Ilma 2017.
aasta I kvartalis müüdud Ukraina jaemüügi ärita kasvas jaemüük 5% võrreldes
eemise aasta sama perioodiga. Eesti müük alustas aastat tugeva kasvuga (4
kauplust: Tallinnas 2, Tartus 1 ja vabrikupood Pärnus). Vilnius kaupluse müük
oli 2017. aasta I poolaastal 9% suurem kui eelmise aasta samal perioodil,
samas paranes kaupluse netotulu. Riia kaupluse müügikäive oli eelmise aasta
tasemel, kuid neto tulemus oli parem, kuna püsikulud olid madalamad.
JAEMÜÜK RIIKIDE LÕIKES:
--------------
tuh EUR % käibest Kaupluste arv
-----------------------------------------------------------
6k 2017 6k 2016 6k 2017 6k 2016 30.06.2017 30.06.2016
-------------------------------------------------------------------------
Eesti 689 650 64,3% 60,5% 4 5
-------------------------------------------------------------------------
Läti 199 199 18,6% 18,5% 1 1
-------------------------------------------------------------------------
Ukraina 64 115 6,0% 10,7% 0 3
-------------------------------------------------------------------------
Leedu 119 109 11,1% 10,1% 1 1
-------------------------------------------------------------------------
Teised riigid - 1 0,0% 0,1% - -
-------------------------------------------------------------------------
KOKKU 1 071 1 074 100% 100% 6 10
-------------------------------------------------------------------------
FINANTSSUHTARVUD
Kasumiaruanne II kv 2017 II kv 2016 II kv 2015
----------------------------------------------------------------------------
Müügitulu 4 025 4 432 4 653
----------------------------------------------------------------------------
EBITDA 294 (27) 267
----------------------------------------------------------------------------
EBITDA rentaablus 7,3% (0,6%) 5,7%
----------------------------------------------------------------------------
Ärikasum 86 (187) 68
----------------------------------------------------------------------------
Ärirentaablus 2,1% (4,2%) 1,5%
----------------------------------------------------------------------------
Puhaskasum 15 (269) (42)
----------------------------------------------------------------------------
Puhasrentaablus 0,4% (6,1%) (0,9%)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Kasumiaruanne 6k 2017 6k 2016 6k 2015
----------------------------------------------------------------------------
Müügitulu 8 487 8 977 9 761
----------------------------------------------------------------------------
EBITDA 660 (23) 524
----------------------------------------------------------------------------
EBITDA rentaablus 7,7% (0,3%) 5,4%
----------------------------------------------------------------------------
Ärikasum 244 (455) 104
----------------------------------------------------------------------------
Ärirentaablus 2,9% (5,1%) 1,1%
----------------------------------------------------------------------------
Puhaskasum 103 (624) (51)
----------------------------------------------------------------------------
Puhasrentaablus 1,2% (6,9%) (0,5%)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Bilanss 30.06.2017 30.06.2016 30.06.2015
----------------------------------------------------------------------------
Koguvarad 12 204 13 005 14 032
----------------------------------------------------------------------------
Koguvarade puhasrentaablus 0,8% (4,8%) (0,4%)
----------------------------------------------------------------------------
Omakapital 3 963 4 293 5 136
----------------------------------------------------------------------------
Omakapitali puhasrentaablus 2,6% (14,5%) (1,0%)
----------------------------------------------------------------------------
Võlakordaja 67,5% 67% 63,4%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Aktsia 30.06.2017 30.06.2016 30.06.2015
----------------------------------------------------------------------------
Aktsia sulgemishind (EUR) 0,533 0,540 0,805
----------------------------------------------------------------------------
Puhaskasum aktsia kohta (EUR) 0,02 (0,14) (0,01)
----------------------------------------------------------------------------
Hind-tulu (PE) suhtarv 26,65 (3,86) (80,50)
----------------------------------------------------------------------------
Aktsia raamatupidamisväärtus (EUR) 0,88 0,95 1,14
----------------------------------------------------------------------------
Turuhinna ja raamatupidamisväärtuse suhe 0,60 0,57 0,71
----------------------------------------------------------------------------
Turukapitalisatsioon 2 398 2 429 3 622
----------------------------------------------------------------------------
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 30.06.2017 31.12.2016 30.06.2016
--------------------------------------------------------------------------
Raha ja raha ekvivalendid 190 184 106
--------------------------------------------------------------------------
Nõuded ja ettemaksed (lisa 1) 1 448 965 1 510
--------------------------------------------------------------------------
Varud (lisa 2) 2 903 2 760 3 085
--------------------------------------------------------------------------
Käibevara kokku 4 541 3 909 4 701
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Kinnisvarainvesteeringud (lisa 3) 405 405 406
--------------------------------------------------------------------------
Materiaalne põhivara (lisa 4) 7 202 7 584 7 849
--------------------------------------------------------------------------
Immateriaalne põhivara (lisa 5) 56 66 49
--------------------------------------------------------------------------
Põhivara kokku 7 663 8 055 8 304
--------------------------------------------------------------------------
--------------------------------------------------------------------------
AKTIVA (vara) KOKKU 12 204 11 964 13 05
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Võlakohustused (lisa 6) 651 1 176 1 641
--------------------------------------------------------------------------
Võlad ja ettemaksed (lisa 7) 2 556 2 497 2 672
--------------------------------------------------------------------------
Lühiajalised eraldised (lisa 8) 8 15 8
--------------------------------------------------------------------------
Lühiajalised kohustused kokku 3 215 3 688 4 321
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Pikaajalised võlakohustused (lisa 6) 4 813 4 163 4 163
--------------------------------------------------------------------------
Pikaajalised eraldised (lisa 8) 213 213 228
--------------------------------------------------------------------------
Pikaajalised kohustused kokku 5 026 4 376 4 391
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Kohustused kokku 8 241 8 064 8 712
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Aktsiakapital (nimiväärtuses) (lisa 9) 2 699 2 699 2 699
--------------------------------------------------------------------------
Ülekurss 365 364 364
--------------------------------------------------------------------------
Kohustuslik reservkapital 288 288 288
--------------------------------------------------------------------------
Muud reservid 2 2 5
--------------------------------------------------------------------------
Ümberhindluse kursivahed - 40 9
--------------------------------------------------------------------------
Eelmiste perioodide jaotamata kasum 507 1 552 1 552
--------------------------------------------------------------------------
Aruandeaasta kasum (kahjum) (lisa 10) 103 (1 045) (624)
--------------------------------------------------------------------------
Omakapital kokku 3 963 3 900 4 293
--------------------------------------------------------------------------
PASSIVA (kohustused ja omakapital)
--------------------------------------------------------------------------
KOKKU 12 204 11 964 13 005
--------------------------------------------------------------------------
KONSOLIDEERITUD KASUMI- JA KOONDKASUMIARUANNE
tuh EUR II kv II kv 6 k 6 k
2017 2016 2017 2016
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Müügitulu (lisa 11) 4 025 4 432 8 487 8 977
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Müüdud toodangu kulu (3 218) (3 710) (6 (7
643) 438)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Brutokasum 807 722 1 844 1 539
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Turustuskulud (471) (765) (1 (1
073) 638)
--------------------------------------------------------------------------------
Üldhalduskulud (186) (155) (421) (301)
--------------------------------------------------------------------------------
Muud äritulud - 61 51 69
--------------------------------------------------------------------------------
Muud ärikulud (64) (50) (157) (124)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Ärikasum (-kahjum) (lisa 11) 86 (187) 244 (455)
--------------------------------------------------------------------------------
Neto finantskulu (71) (80) (141) (166)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Kasum (kahjum) enne tulumaksu 15 (267) 103 (621)
--------------------------------------------------------------------------------
Tulumaksukulu - (1) - (3)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
PERIOODI PUHASKASUM (KAHJUM) 15 (268) 103 (624)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum:
--------------------------------------------------------------------------------
Valuutakursside muutuste mõju - 34 - 2
konsolideerimisel
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
PERIOODI KOONDKASUM (KAHJUM) 15 (234) 103 (622)
--------------------------------------------------------------------------------
Tava perioodi puhaskasum(kahjum) aktsia 0,00 (0,06) 0,02 (0,14)
kohta (lisa 10)
--------------------------------------------------------------------------------
Lahustatud perioodi puhaskasum(kahjum) 0,00 (0,06) 0,02 (0,14)
aktsia kohta (lisa 10)
--------------------------------------------------------------------------------
2017. aasta kolmanda kvartali vahearuande planeeritav avalikustamise aeg on
nädal 48 2017. aastal (29.-30. november 2017)
Torfinn Losvik
Juhatuse liige
+372 569 90 988
[email protected]
Content of announcement in English
Title
Skano Group AS 2Q 2017 report
Message
THE 2nd QUARTER 2017 IN SHORT
Skano Group is engaged in the manufacture and distribution of building
materials and furniture as well as retail trade of furniture and furnishings.
Skano Group is a holding company consisting of the following companies, all
100% owned:
Subsidiary Location
Activity
Skano Fibreboard OÜ Estonia
Production and Distribution
Suomen Tuulileijona OY Finland
Distribution
Skano Furniture Factory OÜ Estonia
Production and Distribution
Skano Furniture OÜ Estonia
Retail
SIA Skano Latvia
Retail
UAB Skano LT Lithuania
Retail
Skano Group sold its Ukrainian retail subsidiary TOV Skano Ukraine in March
2017.
Skano Fibreboard OÜ produces and distributes soft-board products for use in
many different applications, the main category being within construction
(insulation, soundproofing, and interior finishing panels for walls and
ceilings). Suomen Tuulileijona OY is the distributor of Skano’s fibreboard
products in Finland.
Skano Furniture Factory OÜ produces original, premium price level home
furniture made of timber. Skano Furniture OÜ consists of a furniture retail
store chain operating in Estonia, Latvia, Lithuania and Ukraine (the Ukrainian
retail chain was sold in March 2017).
The principal markets of the company are all Nordic countries, Russia, South
Africa, Portugal and the Baltics.
The shares of Skano Group AS are listed on the Nasdaq Tallinn Stock Exchange.
As at 30 June 2017 the Group employed 225 people (30 June 2016: 295 people).
Skano Group recorded net profit for second quarter of 2017 of 15 thousand euros
(2Q 2016: loss of 268 thousand euros), thus net profit for first half 2017 was
103 thousand euros (1H 2016: loss of 624 thousand euros). The first half 2017
results were influenced by a one-off gain of 48 thousand euros due to the
disposal of Skano’s Ukrainian retail subsidiary.
Consolidated net sales of 2Q 2017 were 4.03 mil. euros, representing a 9%
decrease compared to the same period in 2016 (4.43 mil. euros). When excluding
sales to Finland, group sales actually increased by 5% compared to 2Q 2016.
Operating Profit Before Interests, Taxes, Depreciation and Amortisation
(“EBITDA”) for first half 2017 was 660 thousand euros (same period last year
EBITDA was negative 23 thousand euros), which equates to 8% of sales.
Fibreboard sales in 2Q 2017 were 2.85 mil. euros. Total sales for 1H 2017 were
6.11 mil. euros, which is 4% down on same period last year. However, if
excluding sales to Finland, fibreboard sales were up 6% compared to same period
in 2016, with most notable strong growth in South Africa, Thailand and Sweden.
There is a sign that the Finnish market is now recovering, thus we expect
improved 2H 2017 sales to Finland. Operating profit for fibreboard division in
1H 2017 was 185 thousand euros (in 1H 2016 operating loss 85 thousand euros).
Furniture wholesale sales in 2Q 2017 were 0.92 mil. euros. Total sales for 1H
2017 were 1.88 mil. euros, which is 9% down on same period last year. Both
Finland and Russia decreased sales in this period, while other markets improved
by 49%. The operating loss in 1H 2017 was 29 thousand euros (1H 2016 operating
loss of 293 thousand euros).
Furniture retail sales in 2Q 2017 were 0.5 mil. euros. Total sales for 1H 2017
were 1.07 mil. euros, which as level with last year. When excluding the
discontinued Ukrainian retail operations, which were sold in 1Q 2017, retail
sales were up 5% compared to same period in 2016. The operating profit in 1H
2017 was 100 thousand euros (in 1H 2016 operating loss of 100 thousand euros).
POSITION OF FINANCIAL STATEMENT
As of 30.06.2017 the total assets of Skano Group AS were 12.2 mil. euros
(30.06.2016: 13.0 mil. euros). The liabilities of the company as of 30.06.2017
were 8.2 mil. euros (30.06.2016: 8.7 mil. euros).
Receivables and prepayments amounted 1.4 mil. euros (30.06.2016: 1.5 mil.
euros). Inventories were 2.9 mil. euros as of 30.06.2017 (30.06.2016: 3.1 mil.
euros). Property, plant and intangibles were to 7.6 mil. euros as of 30.06.2017
(8.3 mil. euros as of 30.06.2016).
OUTLOOK
Fibreboard sales development is progressing well, with the exception of
Finland. We have secured agents for Germany, Czech Republic and Slovakia, and
Poland, and they have all started making customer orders. In addition, we have
entered Thailand and secured a large construction company as our first customer
in that growing market. We remain hopeful that the Finnish market shall improve
somewhat in light of the forthcoming customer campaigns being planned for this
autumn.
The challenge for Furniture wholesale will be to secure more customers in
markets outside of our two main markets of Finland and Russia. Furniture retail
has had a good start this year, and we hope the positive consumer purchasing in
the Baltic markets shall continue thus securing stable economic background for
our six shops in the three Baltic countries.
DIVISIONAL REVIEW:
NET SALES BY BUSINESS SEGMENTS
th EUR % of net sales
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1H 2017 1H 2016 1H 2017 1H 2016
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Fibreboards production and sales 6,113 6,359 72.0% 70.8%
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Furniture production and sales 1,876 2,137 22.1% 23.8%
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Furniture retail Baltics 1,007 959 11.9% 10.7%
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Furniture retail Ukraine 64 115 0.8% 1.3%
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Consolidation (573) (593) (6.8%) (6.6%)
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TOTAL 8,487 8,977 100.0% 100.0%
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NET SALES BY GEOGRAPHICAL SEGMENTS
th EUR % of net sales
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1H 2017 1H 2016 1H 2017 1H 2016
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Finland 2,867 3,529 33.8% 39.3%
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Estonia 1,613 1,461 19.0% 16.3%
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Russia 1,255 1,297 14.8% 14.4%
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Sweden 456 324 5.4% 3.6%
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Latvia 393 172 4.6% 1.9%
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South-Afrika 363 374 4.3% 4.2%
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Portugal 265 429 3.1% 4.8%
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Lithuania 210 560 2.5% 6.2%
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Ukraine 180 163 2.1% 1.8%
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Great Britain 170 162 2.0% 1.8%
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Thailand 116 - 1.4% -
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Netherlands 115 17 1.4% 0.2%
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Germany 76 73 0.9% 0.8%
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Denmark 64 79 0.8% 0.9%
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Kazakhstan 47 43 0.6% 0.5%
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Arabia 36 70 0.4% 0.8%
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Australia 33 27 0.4% 0.3%
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Hungary 31 25 0.4% 0.3%
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Saudi-Arabia 27 36 0.3% 0.4%
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Other countries 170 136 1.8% 1.5%
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TOTAL 8,487 8,977 100% 100%
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Skano’s three main markets of Finland, Estonia and Russia together has about
68% share of total sale of the group in 1H 2017. We have also gained entry into
new market, Thailand (construction boards) and increase the market share in
Sweden (construction boards).
PROFIT BY BUSINESS SEGMENTS:
FIBREBOARDS production and sales
th EUR 1H 2017 1H 2016
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Fibreboards production and sales 185 (85)
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Furniture production and sales (29) (293)
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Furniture retail Baltics 49 (46)
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Furniture retail Ukraine (incl. disposal related gain) 51 (54)
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Consolidation (12) 23
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TOTAL 244 (455)
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Net financial costs (141) (166)
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Income tax - (3)
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NET PROFIT 103 (624)
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Fibreboard profit was helped by further production concentration to thicker
boards, which are more profitable for Skano. Total furniture profit is now
positive, and should remain so if sales stays at its current levels.
FURNITURE production and sales
FURNITURE PRODUCTION
Sales dropped to 1.88 mil. euros in 1H 2017, from 2.13 mil. euros in 1H 2016.
The largest sales decline came from the Finnish market reflecting the current
difficulties experienced by Skano’s large Finnish wholesale customer. Our
Russian market was slightly down while deliveries to Kazakhstan and Germany
helped us grow our sales outside of our two main markets Finland and Russia.
Sales to Skano retail units held up well, and increased its share of total
furniture sales within the Group.
FURNITURE WHOLESALE SALES BY COUNTRIES
th EUR % of net sales
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1H 2017 1H 2016 1H 2017 1H 2016
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Finland 575 786 30.7% 36.8%
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Russia 635 713 33.8% 33.4%
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Other countries 155 104 8.3% 4.8%
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Group retail companies 511 534 27.2% 25.0%
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TOTAL 1,876 2,137 100.0% 100.0%
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FURNITURE RETAIL SALES
Skano group retail business recorded sales 1.07 mil. euros in 1H 2017. When
excluding the discontinued Ukrainian operations, sales were up by 5% compared
to the same period last year. Estonia experienced strong growth at the start of
the year (we have 4 shops; Tallinn two, Tartu one and a factory shop in Pärnu).
Vilnius recorded sales growth of 9% this year compared to same period last
year, as well as improving its net result. Riga shop sales were at same level
as last year but improved its net result due to better gross margin and less
fixed costs.
RETAIL SALES BY COUNTRIES
th EUR % of net sales Number of stores
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1H 2017 1H 2016 1H 2017 1H 2016 30.06.2017 30.06.2016
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Estonia 689 650 64.3% 60.6% 4 5
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Latvia 199 199 18.6% 18.5% 1 1
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Lithuania 119 109 11.1% 10.1% 1 1
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Ukraine 64 115 6.0% 10.7% 0 3
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Other countries - 1 - 0.1% - -
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TOTAL 1,071 1,074 100.0% 100.0% 6 10
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FINANCIAL HIGHLIGHTS
Income statement 2Q 2017 2Q 2016 2Q 2015
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Revenue 4,025 4,432 4,653
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EBITDA 294 (27) 267
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EBITDA margin 7.3% (0.6%) 5.7%
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Operating profit 86 (187) 68
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Operating margin 2.1% (4.2%) 1.5%
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Net profit 15 (268) (42)
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Net margin 0.4% (6.1%) (0.9%)
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Income statement 1H 2017 1H 2016 1H 2015
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Revenue 8,487 8,977 9,761
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EBITDA 660 (23) 524
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EBITDA margin 7.7% (0.3%) 5.4%
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Operating profit 244 (455) 104
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Operating margin 2.9% (5.1%) 1.1%
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Net profit 103 (624) (51)
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Net margin 1.2% (6.9%) (0.5%)
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Balance sheet 30.06.2017 30.06.2016 30.06.2015
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Total assets 12,204 13,005 14,032
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Return on assets 0.8% (4.8%) (0.4%)
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Equity 3,963 4,293 5,136
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Return on equity 2.6% (14.5%) (1.0%)
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Debt-to-equity ratio 67.5% 67.0% 63.4%
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Share 30.06.2017 30.06.2016 30.06.2015
---------------------------------------------------------
Closing price 0.533 0.540 0.805
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Earnings per share 0.02 (0.14) (0.01)
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Price-earnings ratio 26.65 (3.86) (80.50)
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Book value of a share 0.88 0.95 1.14
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Market to book ratio 0.60 0.57 0.71
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Market capitalization 2,398 2,429 3,622
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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 30.06.2017 31.12.2016 30.06.2016
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Cash and bank accounts 190 184 106
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Receivables and prepayments (Note 1) 1,448 965 1,510
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Inventories (Note 2) 2,903 2,760 3,085
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Total current assets 4,541 3,909 4,701
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Investment property (Note 3) 405 405 406
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Tangible fixed assets (Note 4) 7,202 7,584 7,849
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Intangible fixed assets (Note 5) 56 66 49
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Total fixed assets 7,663 8,055 8,304
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TOTAL ASSETS 12,204 11,964 13,005
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Debt obligations (Note 6) 651 1,176 1,641
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Payables and prepayments (Note 7) 2,556 2,497 2,672
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Short-term provisions (Note 8) 8 15 8
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Total current liabilities 3,215 3,688 4,321
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Non-current debt obligations (Note 6) 4,813 4,163 4,163
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Non-current provisions (Note 8) 213 213 228
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Total non-current liabilities 5,026 4,376 4,391
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Total liabilities 8,241 8,064 8,712
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Share capital at nominal value (Note 9) 2,699 2,699 2,699
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Share premium 364 364 364
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Statutory capital reserve 288 288 288
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Other reserves 2 2 5
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Currency translation reserve - 40 9
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Retained earnings 507 1,552 1,552
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Net profit (loss) for the period (Note 10) 103 (1,045) (624)
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Total equity 3,963 3,957 4,293
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TOTAL LIABILITIES AND EQUITY 12,204 11,964 13,005
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CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME
th EUR 2Q 2017 2Q 2016
---------------------------------------------------------
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SALES (Note 11) 4,025 4,432
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Cost of production sold (3,218) (3,710)
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Gross profit 807 722
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Marketing expenses (471) (690)
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General administrative expenses (186) (230)
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Other income - 61
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Other expenses (64) (50)
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Operating profit (loss) (Note 11) 86 (187)
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Financial income and financial expenses (71) (80)
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Profit (loss) before taxes 15 (267)
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Prepaid income tax - (1)
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NET PROFIT (LOSS) FOR THE PERIOD 15 (268)
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Basic earnings per share (Note 10) 0.00 (0.06)
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Diluted earnings per share (Note 10) 0.00 (0.06)
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Other income:
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Currency translation differences - 34
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TOTAL CONSOLIDATED INCOME 15 (234)
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The planned time of publishing of interim report of the third quarter of 2017
is week 48 in 2017 (29-30th of November 2017).
Torfinn Losvik
Member of the Management Board
+372 569 90 988
[email protected]