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
6586
Attachments
Submission date and time
12.04.2018 16:30:00
Content of announcement in Estonian
Title
2018. aasta I kvartali auditeerimata majandustulemused
Message
Segmendid (EURm) Q1/18 Q1/17 yoy
---------------------------------------------------
Supermarketid 105,6 99,6 6,1%
Kaubamaja 22,8 23,0 -1,0%
Autokaubandus 27,6 24,2 14,0%
Jalatsikaubandus 2,2 2,6 -16,5%
Kinnisvara 1,3 1,2 7,6%
---------------------------------------------------
Müügitulud kokku 159,5 150,7 5,9%
---------------------------------------------------
Supermarketid 3,1 2,8 12,6%
Kaubamaja -0,4 0,1 -944,2%
Autokaubandus 0,9 1,2 -31,3%
Jalatsikaubandus -0,3 -0,8 -60,6%
Kinnisvara 2,9 2,9 -0,4%
---------------------------------------------------
Maksueelne kasum kokku 6,1 6,1 -0,5%
---------------------------------------------------
Tallinna Kaubamaja Grupi 2018. aasta I kvartali konsolideeritud auditeerimata
müügitulu oli 159,5 miljonit eurot. Võrreldes 2017. aasta I kvartaliga, mil
müügitulu oli 150,7 miljonit eurot, oli kasv 5,9%. Aruandeperioodi
puhaskahjumiks kujunes 0,2 miljonit eurot seoses dividendidelt arvestatud
tulumaksuga (6,2 miljonit eurot). 2017. aasta esimese kvartali kahjum oli 0,3
miljonit eurot, sealhulgas tulumaks 6,4 miljonit eurot. Maksueelne kasum jäi
6,1 miljoni euroga aasta varasemaga samale tasemele.
2018. aasta algas Grupile positiivselt müügitulu kasvuga. Maksueelne kasum
säilitas aasta varasema tulemusega võrreldava tugeva taseme. Olulistest Grupi
jaesegmentidest näitasid tubli müügitulu kasvu supermarketite ja autokaubanduse
segmendid. Kaubamajade segmendis suudeti vaatamata konkurentsisituatsiooni
teravnemisele säilitada sisuliselt sama müügitulu taset. Hinnanguline võrdlus
otseste konkurentidega Maksu- ja Tolliameti poolt avaldatud statistika alusel
lubab Grupi Kaubamajade segmendi saavutatud müügitulu mahtu pidada antud
turuolukorras heaks. Jalatsisegmendi müügid vähenesid peamiselt vähenenud
müügipinna tõttu. Suurimat, ligi 1,5kordset müügikasvu näitasid 2018. aasta I
kvartalis Grupi e-poed. Kaubamaja ja Selveri e-poodide kasvu võtmeks on asjaolu,
et pakutav e-ostukogemus on samaväärse kvaliteediga, millega Grupi püsiklient on
harjunud füüsilistes poodides. Investeeringud e-poodide kasutusmugavuse-,
teeninduse- ja logistikaarendusse, samuti organisatsioonilised muutused
protsesside ümberkorraldamisel on olnud edukad ja plaanipärased. Tööjõukulud
kasvasid esimeses kvartalis 11,5%, sealhulgas kasvas 3,8% töötajate arv ning
Vabariigi hulgi- ja jaekaubanduse statistika trendidega samas tempos ehk 7,5%
kasvas keskmine palgakulu töötaja kohta.
Selverid
Supermarketite ärisegmendi 2018. aasta I kvartali konsolideeritud müügitulu oli
105,6 miljonit eurot, kasvades aasta varasema perioodiga võrrelduna 6,1%.
Supermarketite segmendi konsolideeritud maksueelne kasum oli 2018. aasta I
kvartalis 3,1 miljonit eurot, millest Eestis teenitud kasum moodustas 3,2
miljonit eurot, püsides aasta varasemal tasemel (langus 0,1 miljonit eurot).
Supermarketite segmendi konsolideeritud puhaskahjum oli 0,9 miljonit eurot,
olles eelmise aasta I kvartali kahjumist 0,1 miljoni euro võrra suurem. Eestis
teenitud puhaskahjum oli 2018. aasta I kvartalis 0,8 miljonit eurot. Puhaskasumi
ja tulumaksueelse kasumi erinevus tuleneb dividendidelt arvestatud tulumaksult -
2018. aastal oli dividendide tulumaks 0,4 miljoni euro võrra väiksem aasta
varasemast. Lätis teenitud maksueelne kahjum oli 2018. aasta l kvartalis 0,1
miljonit eurot. Kahjum vähenes seoses grupisiseste lepingute lõppemisega.
Äritegevus Lätis on külmutatud.
Selveri I kvartali oma turusegmendist mõnevõrra kiirem müügitulu kasv on
saavutatud uute kaupluste toel. Võrreldavate kaupluste vaates on suudetud
müügitulu hoida eelmise aasta tasemel, vaatamata pidevalt lisanduvatele
konkurentide kauplustele, aga ka lojaalsete klientide ümberjaotumisele Selveri
kaupluste vahel. I kvartalis on kasvanud nii ostude arv kui keskmine ost.
Jätkuvalt edukad tulemused on e-Selveril, kus läbimüük I kvartalis suurenes,
võrrelduna eelmise aasta esimese kvartaliga, 1,5 korda. 2018. aasta
võrdlusbaasis ei sisaldu eelmisel aastal Tallinnas avatud viite uut
supermarketit ning Hiiumaa rändpoodi.
Eestis teenitud kasumi kujunemisele on mõju avaldanud eelkõige müügitulu kasv.
Tegevuskulude osas on suudetud parandada eelmise aasta kuluefektiivset taset.
Oodatult on positiivset mõju avaldanud investeeringud, mis on võimaldanud kokku
hoida halduskulusid ning tugevas palgasurves võimaldanud efektiivselt juhtida
tööjõukulusid.
Selver plaanib käesoleval aastal avada vähemalt kaks uut kauplust ja laiendada
SelveEkspressi teenust avatavatesse ning neljateistkümnesse olemasolevasse
kauplustesse. Samuti on kavas võtta kasutusele elektroonilised hinnasildid
Selveri kaupluste puu- ja juurviljaosakondades. Jätkame e-kaubanduse arendamist
suurendamaks võimekust kiiresti kasvava klientide hulga teenindamiseks, sh on
kavas paigaldada esimesed e-Selveri toidukapid, kuhu e-poe klientide tellimusi
toimetada. Alates esimesest aprillist laienes e-Selveri teenus Pärnusse.
Kaubamajad
Kaubamajade ärisegmendi 2018. aasta esimese 3 kuu müügitulu oli 22,8 miljonit
eurot, jäädes eelmisele aastale alla 1,0%. Kaubamajade 2018. aasta esimese
kvartali maksueelne kahjum oli 0,4 miljonit eurot, mis oli aastatagusest
tulemusest madalam 0,5 miljoni euro võrra. Kaubamajade müügitulemust mõjutas
esimeses kvartalis pikaleveninud ja pilvine talv, mis ei soodustanud uue hooaja
alguses kevadkaupade müüke. Samuti mõjutas talvistes ilmastikuoludes
allahinnatud kaupade müük negatiivselt marginaali. I.L.U. kosmeetikakauplusi
opereeriva OÜ TKM Beauty Eesti 2018. aasta esimese kvartali müügitulu oli 1,1
miljonit eurot, suurenedes 2017. aasta sama perioodiga võrreldes 3,2%. Esimeses
kvartalis oli kahjum 0,1 miljonit eurot, mis oli 2017. aasta võrreldava perioodi
kahjumist suurem 12,5%. Veebruaris suleti ebarahuldava toimimise tõttu Kvartali
kauplus Tartus. Lõpumüük ning kaupluse sulgemisega tehtud kulutused avaldasid
mõju I.L.U. keti kasumlikkusele.
Autokaubandus
Autokaubandussegmendi 2018. aasta esimese kvartali müügitulu oli 27,6 miljonit
eurot. Müügitulu kasvas võrreldes eelmise aastaga 14,0%, sealjuures KIAde
müügitulu vähenes 5,9%. Aasta esimesel kolmel kuul müüdi kokku 1229 uut
sõidukit. Müügitulu ja autode tükiarvu kasvu toetas Eesti autoturu hoogne kasv,
mis jätkus ka 2018. aasta I kvartalis. Segmendi 2018. aasta esimese kvartali
maksueelne kasum oli 0,9 miljonit eurot, jäädes eelmise aasta võrreldava
perioodi kasumile alla 0,4 miljoni euro võrra. Autosegmendi Eesti jaemüügiüksus
Viking Motors AS alustas jaanuaris uue müügisalongi avamisega autobrändi Peugeot
sõidu- ja tarbeautode müügi ning teenindusega Tallinnas. Siiani on Peugeot'd
edukalt müünud Grupi autosegmendi Läti autoettevõte Forum Auto SIA. Nimetatud
uus ärisuund on käivitunud oodatust paremini. Samuti on läinud hästi Läti
tütarettevõttel Forum Auto SIA, kes on olnud edukas mitme riigihanke võitmisel.
Auto-segmendi kasumi langus on ühelt poolt tingitud uue brändi müügisalongi
käivitamisega Tallinnas, teisalt on võrreldes 2017. aasta I kvartaliga suurem
fleet-müükide maht alandanud autode müügimarginaali.
Jalatsikaubandus
Jalatsikaubanduse segmendi 2018. aasta I kvartali müügitulu oli 2,2 miljonit
eurot, vähenedes eelmise aasta sama perioodiga võrreldes 16,5%. Languse
põhjuseks on see, et müügipindade optimeerimise käigus on võrreldes aasta
varasemaga n suletud viis jalatsikaubanduse segmendi kauplust. I kvartali kahjum
vähenes võrreldes aasta varasemaga 0,5 miljoni võrra jäädes 0,3 miljoni euro
tasemele. Segmendi 2018. aasta eesmärgiks on läbi uute hankekanalite ja
paranenud marginaalide kasumlikkuse kasv. 2018. aastal on plaanis taasavada
2017. aastal suletud ABC Kinga kauplus Kristiines ja jätkuvalt tegeleda
müügipinna tootlikkuse kasvule suunatud tegevustega. Tööd on alustatud ABC Kinga
kaupluste kontseptsiooniuuendustega.
Kinnisvarad
Kinnisvarade segmendi 2018. aasta I kvartali grupiväline müügitulu oli 1,3
miljonit eurot. Müügitulu kasvas möödunud aastaga võrreldes 7,6%. Kinnisvarade
segmendi 2018. aasta I kvartali maksueelseks kasumiks kujunes 2,9 miljonit
eurot, jäädes eelmise aasta sama perioodi tulemusele alla 0,4%. Segmendi
müügitulu kasvule aitas kaasa 2018. aasta jaanuaris valminud grupivälisele
partnerile ehitatud tankla ja tanklakauplus, mis asub Rae vallas Peetri Selveri
vahetus naabruses. Häid tulemusi näitavad ning annavad segmendi müügikasvule
lisa Tartu Kaubamaja Keskus ja Viimsi Keskus. Kasumi vähemist mõjutasid
varasemad grupisisesed Läti kinnisvaraga seotud lepingud, mis on praeguseks
lõppenud. 2018. aasta lõpus on plaanis avada Kolde Selver, mille ehitustööd
hetkel käivad. Jätkatakse ka Eesti, Läti ja Leedu autokeskuste, Kaubamaja
Tallinna müügimaja ning Kulinaaria keskusköögi arendustöödega.
LÜHENDATUD KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
Tuhandetes eurodes
-------------------------------------------------------------------------------
31.03.2018 31.12.2017
-------------------------------------------------------------------------------
VARAD
Käibevara
Raha ja pangakontod 40 529 33 662
Nõuded ja ettemaksed 14 101 16 127
Varud 79 760 75 816
-------------------------------------------------------------------------------
Käibevara kokku 134 390 125 605
-------------------------------------------------------------------------------
Põhivara
Pikaajalised nõuded ja ettemaksed 115 114
Sidusettevõtjad 1 776 1 724
Kinnisvarainvesteeringud 49 889 49 902
Materiaalne põhivara 204 573 214 475
Immateriaalne põhivara 5 543 5 675
-------------------------------------------------------------------------------
Põhivara kokku 261 896 271 890
-------------------------------------------------------------------------------
VARAD KOKKU 396 286 397 495
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
-------------------------------------------------------------------------------
Lühiajalised kohustused
Võlakohustused 52 895 54 818
Võlad ja ettemaksed 114 493 85 569
-------------------------------------------------------------------------------
Lühiajalised kohustused kokku 167 388 140 387
-------------------------------------------------------------------------------
Pikaajalised kohustused
Võlakohustused 48 729 48 732
Pikaajalised eraldised ja ettemakstud tulevaste
perioodide tulud 420 360
-------------------------------------------------------------------------------
Pikaajalised kohustused kokku 49 149 49 092
-------------------------------------------------------------------------------
KOHUSTUSED KOKKU 216 537 189 479
-------------------------------------------------------------------------------
Omakapital
Aktsiakapital 16 292 16 292
Kohustuslik reservkapital 2 603 2 603
Ümberhindluse reserv 81 672 82 124
Konverteerimiserinevused -255 -255
Jaotamata kasum 79 437 107 252
-------------------------------------------------------------------------------
OMAKAPITAL KOKKU 179 749 208 016
-------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL KOKKU 396 286 397 495
-------------------------------------------------------------------------------
LÜHENDATUD KONSOLIDEERITUD KASUMI JA MUU KOONDKASUMIARUANNE
Tuhandetes eurodes
-------------------------------------------------------------------------------
3 kuud 2018 3 kuud 2017
-------------------------------------------------------------------------------
Müügitulu 159 547 150 688
Muud äritulud 713 482
Müüdud kaubad, kasutatud materjalid ja teenused -120 687 -113 666
Mitmesugused tegevuskulud -13 837 -13 494
Tööjõukulud -15 788 -14 155
Põhivara kulum ja väärtuse langus -3 437 -3 281
Muud ärikulud -308 -329
-------------------------------------------------------------------------------
Ärikasum 6 203 6 245
-------------------------------------------------------------------------------
Finantstulud 0 0
Finantskulud -170 -183
Kasum sidusettevõtja aktsiatelt 52 51
-------------------------------------------------------------------------------
Kasum enne tulumaksustamist 6 085 6 113
-------------------------------------------------------------------------------
Tulumaks -6 249 -6 371
-------------------------------------------------------------------------------
Aruandeperioodi puhaskahjum -164 -258
-------------------------------------------------------------------------------
Muu koondkasum
-------------------------------------------------------------------------------
Kirjed, mida ei klassifitseerita edaspidi ümber
kasumiaruandesse
-------------------------------------------------------------------------------
Aruandeperioodi muu koondkasum kokku 0 0
-------------------------------------------------------------------------------
ARUANDEPERIOODI KOONDKAHJUM -164 -258
-------------------------------------------------------------------------------
Raul Puusepp
Juhatuse esimees
Tel 731 5000
Manus
* Börs_Kaubamaja_1Q2018_est (https://prlibrary-
eu.nasdaq.com/Resource/Download/37202ad2-cfc4-4405-b3cf-84a18ff76893)
Content of announcement in English
Title
Unaudited consolidated interim accounts for the first quarter of 2018
Message
Segments (EURm) Q1/18 Q1/17 yoy
----------------------------------------------------
Supermarkets 105,6 99,6 6,1%
Department stores 22,8 23,0 -1,0%
Cars 27,6 24,2 14,0%
Footwear 2,2 2,6 -16,5%
Real Estate 1,3 1,2 7,6%
----------------------------------------------------
Total sales 159,5 150,7 5,9%
----------------------------------------------------
Supermarkets 3,1 2,8 12,6%
Department stores -0,4 0,1 -944,2%
Cars 0,9 1,2 -31,3%
Footwear -0,3 -0,8 -60,6%
Real Estate 2,9 2,9 -0,4%
----------------------------------------------------
Total profit before tax 6,1 6,1 -0,5%
----------------------------------------------------
In the first quarter of 2018, the unaudited consolidated sales revenue of the
Tallinn Kaubamaja Group was 159.5 million euros. Compared to the first quarter
of 2017, when its sales revenue was 150.7 million euros, the growth accounted
for 5.9%. The net loss for the period amounted to 0.2 million euros due to the
income tax expense on dividends (6.2 million euros). The loss in the first
quarter of 2017 was 0.3 million euros, including income tax of 6.4 million
euros. The pre-tax profit - 6.1 million euros - remained at the same level as in
the previous year.
The beginning of 2018 was positive for the Group - there was a growth in sales
revenue. The pre-tax profit remained at a solid level, comparable to that of the
previous year. In terms of the important retail segments of the Group, a strong
sales revenue growth was seen in supermarkets and car trade segments. In spite
of the intensification of the competitive situation, the department stores
managed to maintain the same level of sales revenue in essence. In estimated
comparison with its direct competitors, based on the statistics published by the
Tax and Customs Board, the sales revenue of the Group's segment of Kaubamaja
stores can be considered good under certain market situation. The sales of the
footwear segment decreased mainly due to reduced selling space. In the first
quarter of 2018, the largest, nearly 1.5 times sales growth was recorded in the
Group e-stores. The key to growth of Kaubamaja and Selver's e-stores is the fact
that the e-shopping experience offered is of an equivalent quality with which
the regular customers of the Group are accustomed to in physical stores.
Investments in the user-friendliness, service and logistics development of e-
stores as well as organizational changes in process reorganization have been
successful and according to plan. Labour costs increased by 11.5% in the first
quarter, including a 3.8% increase in the number of employees. Growth of 7.5% of
the average wage per employee remained at the same pace with the trends of the
wholesale and retail trade statistics of the Republic.
Selver supermarkets
In the first quarter of 2018, the consolidated sales revenue of the supermarket
business segment was 105.6 million euros, being increased by 6.1% compared to
the previous period. In the first quarter of 2018, the consolidated pre-tax
profit of the supermarket segment was 3.1 million euros. The profit earned in
Estonia amounted to 3.2 million euros of it, remaining at the level of the
previous year (a decline of 0.1 million euros). The consolidated net loss of the
supermarket segment was 0.9 million euros, which accounted for an increase of
0.1 million euros compared the first quarter of the previous year. The net loss
in Estonia in the first quarter of 2018 was 0.8 million euros. The difference
between net profit and pre-tax profit is a result of income tax expense on
dividends - in 2018, the income tax on dividends was 0.4 million euros less than
in the previous year. The pre-tax loss in Latvia in the first quarter of 2018
was 0.1 million euros. The loss was reduced due to the expiration of intra-group
contracts. The business in Latvia is frozen.
The sales revenue growth of Selver stores in the first quarter, which was
somewhat faster than the market segment, has been achieved with the support of
new stores. In terms of comparable stores, Selver stores have managed to keep
the sales revenue at the level of last year, despite the constantly increasing
number of competitors' stores and the re-distribution of loyal customers between
the stores of Selver. In the first quarter, both the number of purchases and the
average purchase has increased. E-Selver is still doing well: its sales in the
first quarter, compared to the first quarter of last year, grew by 1.5 times.
The comparison basis of the year 2018 does not include the five new supermarkets
opened in Tallinn and the mobile store of Hiiumaa.
The profits earned in Estonia were mostly affected by revenue growth. In terms
of operating expenses, the level of cost-efficiency was better than last year.
As expected, investments have had a positive effect: they have enabled to save
on administrative costs and efficiently manage labour costs in the pressurising
wage situation.
This year, Selver plans to open at least two stores and extend the SelveEkspress
service to these two stores, as well as fourteen existing stores. It is also
planned to introduce electronic price tags in Selver's fruit and vegetable
sections. We will continue to develop e-commerce to increase our capability to
serve the rapidly increasing number of customers: it is also planned to install
the first e-Selver food lockers, where customers of our e-store can pick up
their deliveries. On 1 April, the e-Selver service expanded to Pärnu.
Department stores
In the first three months of 2018, the department store business segment earned
a sales revenue of 22.8 million euros, which is 1.0% less than last year. The
pre-tax loss of the department stores in the first quarter of 2018 was 0.4
million euros, which is 0.5 million euros less than last year. In the first
quarter, the sales results of the department store segment were affected by the
long and cloudy winter, which had a negative impact on the sale of spring goods
at the beginning of the new season. The sale of discounted goods in the winter
weather conditions also negatively affected the marginal.In the first quarter of
2018, the sales revenue of OÜ TKM Beauty Eesti, which operates the I.L.U.
cosmetics stores, was 1.1 million euros, which was 3.2% more than in the same
period last year. The loss in the first quarter of 2018 was 0.1 million euros,
which is 12.5% more than last year. In February, the Kvartal store in Tartu was
closed due to unsatisfactory results. The final sale and costs related to the
closing the store influenced the profitability of the I.L.U. chain.
Car Trade
In the first quarter of 2018, the sales revenue of the car trade segment was
27.6 million euros. Sales revenue increased by 14.0% compared to last year and
the sales revenue of KIAs decreased by 5.9%. A total of 1,229 new vehicles were
sold in the first three months of the year. The sales revenue and the increase
in the number of cars sold was supported by the rapid growth of the Estonian car
market, which continued in the first quarter of 2018. The pre-tax profit of the
segment in the first quarter of 2018 was 0.9 million euros, which is 0.4 million
euros less than in the same period last year. In January, Viking Motors AS, the
Estonian retail seller in car trade segment, started selling and servicing
Peugeot cars in Tallinn by opening a new showroom. Until now, the Group's
Latvian car company -Forum Auto SIA - has successfully sold Peugeot cars. This
new business direction has shown better results than expected. The Latvian
subsidiary Forum Auto SIA has also shown great results, winning several public
procurements. The decrease in the car trade segment's profit has, on the one
hand, been a result of the launch of the new showroom in Tallinn. On the other
hand, compared to the first quarter of 2017, the higher volume of fleet sales
has lowered the sales margin of cars.
Footwear trade
In the first quarter of 2018, the sales revenue of the footwear business segment
was 2.2 million euros, which accounted for a decrease of 16.5% compared to the
same period of the previous year. Reason for the decrease compared to last year,
five footwear stores have been closed during the selling space optimization. The
loss in the first quarter decreased by 0.5 million euros compared to the
previous year, staying at a level of 0.3 million euros. The goal of the segment
in 2018 is to increase profitability through new procurement channels and an
increase in margins. In 2018, it is planned to re-open the ABC King store in
Kristiine shopping centre, which was closed in 2017, and to continue with the
activities to increase the profitability of selling space. We have started
working with the store concept innovations of ABC King.
Real Estate
In the first quarter of 2018, the sales revenue in the real estate segment
outside the Group was 1.3 million euros. Sales revenue increased by 7.6%
compared to last year. The pre-tax profit of the real estate segment in the
first quarter of 2018 was 2.9 million euros, which is 0.4% less than last year.
The growth in the segment's sales revenue was positively affected by the gas
station and store, completed in January 2018 for a partner outside the Group,
which is located in Rae municipality, in the immediate vicinity of the Selver
store in Peetri. Tartu Kaubamaja Centre and Viimsi Centre are showing good
results and contributing to the segment's sales growth. The decrease in profit
was affected by previous contracts concluded inside the Group, related to
Latvian real estate, which have ended by now. At the end of 2018, it is planned
to open Kolde Selver, which is currently under construction. It is also planned
to continue with the development works of the Estonian, Latvian and Lithuanian
car centres, a new sales building of department store in Tallinn and the central
kitchen of Kulinaaria.
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
In thousands of euros
-------------------------------------------------------------------------
31.03.2018 31.12.2017
-------------------------------------------------------------------------
ASSETS
-------------------------------------------------------------------------
Current assets
Cash and cash equivalents 40,529 33,662
Trade and other receivables 14,101 16,127
Inventories 79,760 75,816
-------------------------------------------------------------------------
Total current assets 134,390 125,605
-------------------------------------------------------------------------
Non-current assets
Long-term receivables and prepayments 115 114
Investments in associates 1,776 1,724
Investment property 49,889 49,902
Property, plant and equipment 204,573 214,475
Intangible assets 5,543 5,675
-------------------------------------------------------------------------
Total non-current assets 261,896 271,890
-------------------------------------------------------------------------
TOTAL ASSETS 396,286 397,495
-------------------------------------------------------------------------
-------------------------------------------------------------------------
LIABILITIES AND EQUITY
-------------------------------------------------------------------------
Current liabilities
Borrowings 52,895 54,818
Trade and other payables 114,493 85,569
-------------------------------------------------------------------------
Total current liabilities 167,388 140,387
-------------------------------------------------------------------------
Non-current liabilities
Borrowings 48,729 48,732
Provisions for other liabilities and charges 420 360
-------------------------------------------------------------------------
Total non-current liabilities 49,149 49,092
-------------------------------------------------------------------------
TOTAL LIABILITIES 216,537 189,479
-------------------------------------------------------------------------
Equity
Share capital 16,292 16,292
Statutory reserve capital 2,603 2,603
Revaluation reserve 81,672 82,124
Currency translation differences -255 -255
Retained earnings 79,437 107,252
-------------------------------------------------------------------------
TOTAL EQUITY 179,749 208,016
-------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 396,286 397,495
-------------------------------------------------------------------------
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE
INCOME
In thousands of euros
-------------------------------------------------------------------------------
3 months
2018 3 months 2017
-------------------------------------------------------------------------------
Revenue 159,547 150,688
Other operating income 713 482
Cost of sales -120,687 -113,666
Other operating expenses -13,837 -13,494
Staff costs -15,788 -14,155
Depreciation, amortisation and impairment losses -3,437 -3,281
Other expenses -308 -329
-------------------------------------------------------------------------------
Operating profit 6,203 6,245
-------------------------------------------------------------------------------
Finance income 0 0
Finance costs -170 -183
Finance income on shares of associates 52 51
-------------------------------------------------------------------------------
Profit before tax 6,085 6,113
-------------------------------------------------------------------------------
Income tax expense -6,249 -6,371
-------------------------------------------------------------------------------
NET LOSS FOR THE FINANCIAL YEAR -164 -258
-------------------------------------------------------------------------------
Other comprehensive income:
Items that will not be subsequently reclassified to
profit or loss
-------------------------------------------------------------------------------
Other comprehensive income for the financial year 0 0
-------------------------------------------------------------------------------
TOTAL COMPREHENSIVE LOSS FOR THE FINANCIAL YEAR -164 -258
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Raul Puusepp
Chairman of the Board
Phone +372 731 5000
Attachment
* Börs_Kaubamaja_1Q2018_eng (https://prlibrary-
eu.nasdaq.com/Resource/Download/fbc21f49-85df-465c-84a9-6d82908fddc3)