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
Annual financial report
Unique data record identifier
6630
Attachments
Submission date and time
30.04.2018 17:19:48
Content of announcement in Estonian
Title
Auditeeritud Majandusaasta Aruanne 2017
Message
Skano Group AS nõukogu kiitis 31.03.2017 seisuga heaks Skano Group AS 2017.a.
Majandusaasta Aruande koos kahjumi katmise ettepanekuga.
MAJANDUSTEGEVUSE ÜLEVAADE
Müügitulu ja majandustulemus
Skano Group AS´i 2017. aasta EBITDA oli 973 tuhat eurot (6% müügitulust), mis on
suurenenud võrreldes 2016. aastaga, kus 12. kuu EBITDA oli 119 tuhat eurot (1%
müügitulust). Tasub märkida, et 2017. aasta tulemused on mõjutatud ühekordse
mõjuga tehingutest, milleks olid märtsis Skano Ukraina jaeketi müügist saadud
tulu 46 tuhat eurot ning septembris toimunud kinnisvara-investeeringu müügist
saadud tulu 186 tuhat eurot.
Kontserni puhaskahjum oli 2017. aasta 12 kuu peale kokku 127 tuhat eurot (2016:
1 045 tuhat eurot).
Konsolideeritud müügitulu 2017. aastal kokku 16,36 mln eurot, mis on 7% madalam
võrreldes 2016. aasta sama perioodiga (17,50 mln eurot).
Kiudplaadi müügitulu 2017. aastal oli 11,84 mln eurot, mis on 3% vähem kui samal
perioodil 2016. aastal (12.16 mln eurot). Arvates maha müügi Soome (vähenenud
vajadus puitkiudplaatide järele) ning Suurbritanniasse (leping lõpetati ühe
suure kahjumliku kliendiga), kasvas kiudplaadi müük 19% varasema aastaga
võrreldes. Suurim müügikasv tuli Lõuna-Aafrikast, Portugalist ja Rootsist.
Kiudplaadi EBITDA 2017. aasta kohta oli 913 tuhat eurot (2016 EBITDA 526 tuhat
eurot),
Mööbli hulgimüügi tulu 2017. aastal oli 3,58 mln eurot, mis on 16% madalam
möödunud aasta sama perioodiga võrreldes (2016: 4,24 mln eurot). Venemaa möödus
Soomest ning on meie suurim hulgimüügi turg, suurenedes 2017. aastal 4%
võrreldes 2016. aastaga. Müügid Meie ainsa Soome importija tulemused näitasid
müügitulu langust 32%, kuid importija poolt tehtud märkimisväärsed
ümberstruktureerimised 2017. aasta jooksul lubavad positiivset mõju 2018. aasta
tulemustele. Mööbli tootmise ja hulgimüügi EBITDA 2017. aastal oli negatiivne
57 tuhat eurot (2016 negatiivne 448 tuhat eurot).
Mööbli jaemüügi müügitulu 2017. aastal oli 1,93 mln eurot (2016 2.20 mln
eurot), vähenedes 12% võrreldes 2016. aastaga. Välistades Ukraina ettevõtluse
ning 2016. aastal Tallinnas suletud kaupluste müügid, siis olemasolevate
Baltikumi jaekaupluste müügitulu suurenes 2017. aastal 11% 2016. aastaga
võrreldes. Mööbli jaemüügi EBITDA 2017. aastal oli kokku 117 tuhat eurot (2016.
aastal negatiivne 75 tuhat eurot).
Skano mööbliäri (hulgi- ja jaemüük) näitas seega 2017. aastal positiivset EBITDA
tulemust 60 tuhat eurot (2016. aastal oli EBITDA negatiivne 523 tuhat eurot).
KONTSERNI MÜÜGITULU JAOTUS TEGEVUSALADE LÕIKES:
|tuh EUR |% käibest
+--------+--------+-------+-------
| 2017 | 2016 |2017 |2016
--------------------------------------+--------+--------+-------+-------
Kiudplaadi tootmine ja müük |11 836 |12 170 | 72 % | 70 %
--------------------------------------+--------+--------+-------+-------
Mööbli tootmine ja müük | 3 578 | 4 235 | 22 % | 24 %
--------------------------------------+--------+--------+-------+-------
Mööbli jaemüük Baltikum: tänased poed| 1 868 | 1 692 | 11 % | 10 %
--------------------------------------+--------+--------+-------+-------
Mööbli jaemüük Baltikum: suletud poed| 0 | 233 | 0 % | 1 %
--------------------------------------+--------+--------+-------+-------
Mööbli jaemüük Ukraina: suletud poed | 64 | 278 | 0 % | 2 %
--------------------------------------+--------+--------+-------+-------
Grupi tehingud | (990 )|(1 106 )| (6 %)| (6 %)
--------------------------------------+--------+--------+-------+-------
KOKKU |16 357 |17 502 | 100 % | 100 %
KONTSERNI MÜÜGITULU TURGUDE LÕIKES:
| tuh EUR | % käibest
+--------+--------+----------+----------
| 2017 | 2016 | 2017 | 2016
------------------+--------+--------+----------+----------
Soome | 4 918 | 6 060 | 30 % | 35 %
------------------+--------+--------+----------+----------
Venemaa | 3 037 | 2 878 | 19 % | 16 %
------------------+--------+--------+----------+----------
Eesti | 2 845 | 3 129 | 17 % | 18 %
------------------+--------+--------+----------+----------
Portugal | 921 | 717 | 6 % | 4 %
------------------+--------+--------+----------+----------
Läti | 835 | 760 | 5 % | 4 %
------------------+--------+--------+----------+----------
Teised EL riigi | 2 122 | 2 797 | 13 % | 16 %
------------------+--------+--------+----------+----------
Aafrika | 679 | 288 | 4 % | 2 %
------------------+--------+--------+----------+----------
Lähis-Ida | 260 | 197 | 2 % | 1 %
------------------+--------+--------+----------+----------
Aasia | 241 | 39 | 1 % | 0 %
------------------+--------+--------+----------+----------
Teised | 498 | 637 | 3 % | 4 %
------------------+--------+--------+----------+----------
KOKKU | 16 356 | 17 502 | 100 % | 100 %
Kontserni müügitulu näitas suurenemist uutel turgudel nagu Lõuna-Aafrika,
Portugal ja Rootsi, kuid langedes Soomes, Eestis ja Suurbritannias.
KONTSERNI ÄRIKASUM(-KAHJUM) SEGMENTIDE LÕIKES:
tuh EUR | 2017 | 2016
------------------------------------+----------+-------------
EBITDA ärisegmentide lõikes: | |
------------------------------------+----------+-------------
Kiudplaadi tootmine ja müük | 913 | 526
------------------------------------+----------+-------------
Mööbli tootmine ja müük | (57 ) | (448 )
------------------------------------+----------+-------------
Mööbli jaemüük | 117 | (75 )
------------------------------------+----------+-------------
Sisaldab mööbli jaemüüki Ukrainas | 0 | (57 )
------------------------------------+----------+-------------
Elimineerimine | 1 | 116
------------------------------------+----------+-------------
KOKKU EBITDA | 973 | 119
------------------------------------+----------+-------------
Põhivara kulum ja amortisatsioon | (825 ) | (849 )
------------------------------------+----------+-------------
KOKKU ÄRIKASUM/-KAHJUM | 148 | (730 )
------------------------------------+----------+-------------
Neto finantskulud | (275 ) | (310 )
------------------------------------+----------+-------------
Tulumaksukulu | (0 ) | (6 )
------------------------------------+----------+-------------
PUHASKASUM/-KAHJUM | (127 ) | (1 045 )
FINANTSSEISUNDI JA RAHAVOOGUDE ARUANNE NING INVESTEERINGUD
Kontserni koguvara maht oli 31.12.2017 seisuga 10,9 mln eurot (31.12.2016: 12,0
mln eurot) ning ettevõtte kohustised moodustasid 31.12.2017 seisuga 7,2 mln
eurot (31.12.2016: 8,1 mln eurot), millest Skano võlakohustused on 5,0 mln eurot
(31.12.2016: 5,3 mln eurot).
Nõuded ja ettemaksud olid 1,2 mln eurot (31.12.2016: 1,0 mln eurot). Varud
31.12.2017 seisuga 2,3 mln eurot (31.12.2016: 2,8 mln). Materiaalne ja
immateriaalne põhivara seisuga 31.12.2017 oli 7,3 mln eurot (31.12.2016: 8,1 mln
eurot).
Kohustused kokku olid 31.12.2017 seisuga 7,2 mil eurot, mis on 0,9 mln eurot
vähem kui 2016 (31.12.2016: 8,1 mln eurot).
Kontserni äritegevuse rahavood olid 2017. aastal kokku 158 tuhat eurot (2016:
300 tuhat eurot). Rahavood investeerimistegevusest olid 2017. aastal kokku -145
tuhat eurot, samas võrreldes 2016. aastaga tulemus paranes (2016: - 364 tuhat).
Rahavood finansteerimistegevusest olid 2017. aastal -123 tuhat eurot (2016: -77
tuhat eurot).
2017. aastal investeeriti põhivarasse 352 tuhat eurot. 2016 aastal investeeriti
393 tuhat eurot.
ÄRIÜKSUSTE ÜLEVAADE
SKANO FIBREBOARD (sisaldab SUOMEN TUULILEIJONA OY-d)
Skano Fibreboard tegeleb puidkiudplaatide tootmise ja müügiga. Tootmisvabrikud
asuvad Pärnus ja Püssis. Tütarettevõte Suomen Tuulileijona Oy on Soomes
registreeritud ettevõte, mis tegeleb plaatide müügiga Soome turul.
Skano Fibreboard äriüksuse müügitulu oli 2016. aastal 11,84 mln eurot, mis on
3% madalam 2016. aasta (12,17 mln eurot) müügitulust. Me saavutasime hea kasvu
EBITDA (kasum enne intressikulusid, makse, põhivara väärtuse langust ja
amortisatsiooni) tasemel, 526 tuh eurolt 2016. aastal 913 tuh eurole 2017
aastal.
Tugev müügikasv tulenes müügist Lõuna-Aafrikasse, Portugali ja Rootsi, samas kui
müügitulu kahanes Soomes (madal nõudlus) ja Suurbritannias (lepingu lõpetamine
kahjumliku kliendiga).
SKANO FIBREBOARD MÜÜK RIIKIDE LÕIKES:
|tuh EUR |% käibest
+------+------+------+------
|2017 |2016 |2017 |2016
-------------------------------------------+------+------+------+------
Euroopa Liit (sh Suomen Tuulileijona müük)| 8 700| 9 822| 74 %| 81 %
-------------------------------------------+------+------+------+------
Venemaa | 1 631| 1 527| 14 %| 13 %
-------------------------------------------+------+------+------+------
Aafrika | 679| 288| 6 %| 2 %
-------------------------------------------+------+------+------+------
Lähis-Ida | 260| 197| 2 %| 2 %
-------------------------------------------+------+------+------+------
Aasia | 241| 39| 2 %| 0 %
-------------------------------------------+------+------+------+------
Teised | 325| 297| 3 %| 2 %
-------------------------------------------+------+------+------+------
KOKKU |11 836|12 170| 100 %| 100 %
Siseviimistlusplaadid
Siseviimistlusplaate toodetakse 100% oma kaubamärgi Isotex all.
Siseviimistlusplaate valmistatakse Pärnu kiudplaadivabriku põhitootmisliinil
toodetavatest naturaalsetest puitkiudplaatidest, mille servadesse töödeldakse
punntapid ja pealispind kaetakse paber- või tekstiilkattega. See tehnoloogia
võimaldab toota erineva värvi ja mustriga plaate.
Üldehitusplaadid
Tuuletõkkeplaadid olid jätkuvalt suurim Pärnu kiudplaadivabriku tootegrupp.
Püssi kiudplaaditehase peamine toodang kuulub märkmetahvlite segmenti, mida
Skano müüb mitmel kontinendil.
SKANO FURNITURE FACTORY (koos Skano Furniture'ga)
MÖÖBLI TOOTMINE JA HULGIMÜÜK
Müük langes 3,58 mln eurole 2017. aastal, võrreldes 2016. aastaga 4,24 mln
euroga. Sellele vaatamata, meie suurim turg Venemaa kasvas 4% võrreldes 2016.
aastaga, samal ajal müük Soome ainuimportöörile langes 32%. Müük Skano jaeketi
poodidele suurendas oma osakaalu kogu mööbli müügist Grupi siseselt, ning
edaspidise müügistabiilsuse tagamiseks jätkatakse jaekaubandusele suunatud
tegevustele fokuseerimisega.
MÖÖBLIVABRIKU MÜÜK RIIKIDE LÕIKES:
| tuh EUR | % käibest
+-------+-------+----------+----------
| 2017 | 2016 | 2017 | 2016
----------------+-------+-------+----------+----------
Venemaa | 1 406 | 1 349 | 39 % | 32 %
----------------+-------+-------+----------+----------
Soome | 995 | 1 463 | 28 % | 35 %
----------------+-------+-------+----------+----------
Skano jae | 900 | 1 007 | 25 % | 24 %
----------------+-------+-------+----------+----------
Teised riigid | 278 | 416 | 8 % | 10 %
----------------+-------+-------+----------+----------
KOKKU | 3 579 | 4 235 | 100 % | 100 %
SKANO FURNITURE JAEMÜÜK
Skano Group ASi mööbli jaeäri opereerivad tütarfirma Skano Furniture OÜ ja selle
tütarfirmad Lätis, Leedus ja Ukrainas (Ukraina äri müüdi märtsis
2017). 31.12.2017 seisuga on mööblikaupluste ketis kokku 6 kauplust: kaks
Tallinnas ning üks Tartus, Pärnus, Riias ja Vilniuses
Skano Groupi jaeäri müügitulu oli 1,93 mln eurot 2017. aastal, mis on 12%
madalam võrreldes 2016. aastaga (2,20 mln eurot). Sellele vaatamata suutsid 6
töös olevat jaekauplust suurendada 2017. aastal müügikäivet 11% võrreldes 2016.
aastaga.
JAEMÜÜK RIIKIDE LÕIKES:
|tuh EUR |% käibest |Kaupluste arv
+-----+-----+------+------+----------+----------
|2017 |2016 |2017 |2016 |31.12.2017|31.12.2016
------------------------+-----+-----+------+------+----------+----------
Eesti* |1 266|1 089| 66 %| 49 %| 4| 4
------------------------+-----+-----+------+------+----------+----------
Eesti (suletud kauplus)| 0| 233| 0 %| 11 %| 0| 1
------------------------+-----+-----+------+------+----------+----------
Läti | 356| 363| 18 %| 16 %| 1| 1
------------------------+-----+-----+------+------+----------+----------
Leedu | 246| 231| 13 %| 10 %| 1| 1
------------------------+-----+-----+------+------+----------+----------
Ukraina** | 64| 278| 3 %| 13 %| 0| 2
------------------------+-----+-----+------+------+----------+----------
Teised riigid | 0| 8| 0 %| 0 %| 0| 0
------------------------+-----+-----+------+------+----------+----------
Kokku |1 932|2 202| 100 %| 100 %| 6| 8
* Töös olevad poed
** Ukraina äri müüdi märtsis 2017
PROGNOOS JA ARENG
SKANO FIBREBOARD (sh Suomen Tuulileijona Oy)
Me plaanime oma äri laiendada Lähi-Itta ja Aasiasse, kindlustades samaaegselt
oma positsiooni Euroopa turul. Jätkuvalt fokusseeritakse nendele toodetele,
mille puhul on Skano Fibreboard selges konkurentsieelises.
SKANO MÖÖBLIVABRIK
Intensiivne üksuse kulujuhtimine on aidanud parendada kasumlikkust. Läbi
tootmisprotsesside joondamise oleme püüdnud paremini vastata
konkurentsitingimustele.
SKANO MÖÖBLI JAEMÜÜK
Ootame töös olevatelt poodidelt jätkuvat stabiilset tulemust ning käesoleval
aastal otsime võimalusi uute poodide avamiseks Baltikumis.
FINANTSSUHTARVUD
tuh EUR | 2017 | 2016
-------------------------------------------+-----------------+-----------------
Kasumiaruanne | |
-------------------------------------------+-----------------+-----------------
Müügitulu | 16 357 | 17 502
-------------------------------------------+-----------------+-----------------
EBITDA | 973 | 117
-------------------------------------------+-----------------+-----------------
EBITDA rentaablus | 6 % | 1 %
-------------------------------------------+-----------------+-----------------
Ärikasum/-kahjum | 148 | (731 )
-------------------------------------------+-----------------+-----------------
Ärirentaablus | 1 % | (4 %)
-------------------------------------------+-----------------+-----------------
Puhaskasum/-kahjum | (127 ) | (1 047 )
-------------------------------------------+-----------------+-----------------
Puhasrentaablus | (1 %) | (6 %)
-------------------------------------------+-----------------+-----------------
| |
-------------------------------------------+-----------------+-----------------
Bilanss | 31.12.2017 | 31.12.2016
-------------------------------------------+-----------------+-----------------
Koguvarad | 10 937 | 11 965
-------------------------------------------+-----------------+-----------------
Koguvarade puhasrentaablus | (1 %) | (9 %)
-------------------------------------------+-----------------+-----------------
Omakapital | 3 753 | 3 901
-------------------------------------------+-----------------+-----------------
Omakapitali puhasrentaablus | (3 %) | (27 %)
-------------------------------------------+-----------------+-----------------
Võlakordaja | 66 % | 67 %
-------------------------------------------+-----------------+-----------------
| |
-------------------------------------------+-----------------+-----------------
Aktsia | 31.12.2017 | 31.12.2016
-------------------------------------------+-----------------+-----------------
Aktsia viimane hind (EUR) | 0,62 | 0,460
-------------------------------------------+-----------------+-----------------
Puhaskasum aktsia kohta (EUR) | (0,03 ) | (0,23 )
-------------------------------------------+-----------------+-----------------
Hind-tulu (PE) suhtarv | (21,74 ) | (2,00 )
-------------------------------------------+-----------------+-----------------
Aktsia raamatupidamisväärtus (EUR) | 0,83 | 0,87
-------------------------------------------+-----------------+-----------------
Turuhinna ja raamatupidamisväärtuse suhe | 0,74 | 0,52
-------------------------------------------+-----------------+-----------------
Turukapitalisatsioon | 2 771 | 2 047
-------------------------------------------+-----------------+-----------------
Aktsiate arv | 4 499 061 | 4 499 061
EBITDA = ärikasum(-kahjum) + kulum
EBITDA rentaablus = EBITDA / müügitulu
Ärirentaablus = ärikasum(-kahjum) / müügitulu
Puhasrentaablus = puhaskasum(-kahjum) / müügitulu
Koguvarade puhasrentaablus = puhaskasum(-kahjum) / koguvarad
Omakapitali puhasrentaablus = puhaskasum(-kahjum) / omakapital
Võlakordaja = kohustused / koguvarad
Puhaskasum(-kahjum) aktsia kohta = puhaskasum(-kahjum) / aktsiate arv
Lahustatud puhaskasum(-kahjum) aktsia kohta = puhaskasum(-kahjum) / aktsiate arv
+ tingimuslikud aktsiad
Hind-tulu (PE) suhtarv = aktsia viimane hind / puhaskasum(-kahjum) aktsia kohta
Aktsia raamatupidamisväärtus = omakapital / aktsiate arv
Turuhinna ja raamatupidamisväärtuse suhe = aktsia viimane hind / aktsia
raamatupidamisväärtus
Turukapitalisatsioon = aktsia viimane hind * aktsiate arv
*
http://www.nasdaqbaltic.com/market/?instrument=EE3100092503&list=3&pg=details&tab=historical
KONSOLIDEERITUD RAAMATUPIDAMISE AASTAARUANNE
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
tuh EUR | 31.12.2017 | 31.12.2016
----------------------------------------------+------------+------------
Raha ja raha ekvivalendid (lisa 3) | 74 | 184
----------------------------------------------+------------+------------
Nõuded ja ettemaksed (lisa 3; 5) | 1 215 | 965
----------------------------------------------+------------+------------
Varud (lisa 6) | 2 336 | 2 760
----------------------------------------------+------------+------------
| |
----------------------------------------------+------------+------------
Kokku käibevarad | 3 624 | 3 909
----------------------------------------------+------------+------------
| |
----------------------------------------------+------------+------------
Kinnisvarainvesteeringud (lisa 7) | 170 | 405
----------------------------------------------+------------+------------
Müügiootel finantsvarad (lisa 9) | 182 | 0
----------------------------------------------+------------+------------
Muud aktsiad ja osad | 7 | 0
----------------------------------------------+------------+------------
Materiaalne põhivara (lisa 8) | 6 908 | 7 584
----------------------------------------------+------------+------------
Immateriaalne põhivara (lisa 8) | 47 | 66
----------------------------------------------+------------+------------
| |
----------------------------------------------+------------+------------
Kokku põhivarad | 7 313 | 8 055
----------------------------------------------+------------+------------
| |
----------------------------------------------+------------+------------
KOKKU VARAD | 10 937 | 11 964
----------------------------------------------+------------+------------
Võlakohustused (lisa 3; 10) | 593 | 1 176
----------------------------------------------+------------+------------
Võlad ja ettemaksed (lisa 3; 12) | 1 956 | 2 497
----------------------------------------------+------------+------------
Lühiajalised eraldised (lisa 13) | 13 | 15
----------------------------------------------+------------+------------
Kokku lühiajalised kohustused | 2 562 | 3 688
----------------------------------------------+------------+------------
| |
----------------------------------------------+------------+------------
Pikaajalised võlakohustused (lisa 3; 10) | 4 422 | 4 163
----------------------------------------------+------------+------------
Pikaajalised eraldised (lisa 13) | 200 | 213
----------------------------------------------+------------+------------
Kokku pikaajalised kohustused | 4 622 | 4 376
----------------------------------------------+------------+------------
| |
----------------------------------------------+------------+------------
Kokku kohustused | 7 184 | 8 064
----------------------------------------------+------------+------------
| |
----------------------------------------------+------------+------------
Aktsiakapital (nominaalväärtuses) (lisa 14) | 2 699 | 2 699
----------------------------------------------+------------+------------
Ülekurss | 364 | 364
----------------------------------------------+------------+------------
Kohustuslik reservkapital | 288 | 288
----------------------------------------------+------------+------------
Muud reservid | 9 | 2
----------------------------------------------+------------+------------
Realiseerimata kursivahed | 0 | 40
----------------------------------------------+------------+------------
Jaotamata kasum | 393 | 507
----------------------------------------------+------------+------------
| |
----------------------------------------------+------------+------------
Omakapital kokku (lisa 14) | 3 753 | 3 900
----------------------------------------------+------------+------------
| |
----------------------------------------------+------------+------------
KOKKU KOHUSTUSED JA OMAKAPITAL | 10 937 | 11 964
KONSOLIDEERITUD KASUMI- JA MUU KOONDKASUMIARUANNE
tuh EUR | 2017 | 2016
----------------------------------------------------------+---------+----------
Müügitulu (lisa 25) | 16 357 | 17 502
----------------------------------------------------------+---------+----------
Müüdud toodangu kulu (lisa 16) |(13 419 )| (14 425 )
----------------------------------------------------------+---------+----------
| |
----------------------------------------------------------+---------+----------
Brutokasum | 2 938 | 3 077
----------------------------------------------------------+---------+----------
| |
----------------------------------------------------------+---------+----------
Turustuskulud (lisa 17) | (2 040 )| (2 939 )
----------------------------------------------------------+---------+----------
Üldhalduskulud (lisa 18) | (703 )| (595 )
----------------------------------------------------------+---------+----------
Muud äritulud (lisa 20) | 255 | 54
----------------------------------------------------------+---------+----------
Muud ärikulud (lisa 21) | (301 )| (327 )
----------------------------------------------------------+---------+----------
| |
----------------------------------------------------------+---------+----------
Ärikasum (-kahjum) (lisa 25) | 149 | (730 )
----------------------------------------------------------+---------+----------
| |
----------------------------------------------------------+---------+----------
Finantskulud (lisa 22) | (279 )| (309 )
----------------------------------------------------------+---------+----------
| |
----------------------------------------------------------+---------+----------
KASUM ENNE TULUMAKSUSTAMIST | (127 )| (1 039 )
----------------------------------------------------------+---------+----------
Tulumaks (lisa 14; 23) | (0 )| (6 )
----------------------------------------------------------+---------+----------
| |
----------------------------------------------------------+---------+----------
ARUANDEAASTA PUHASKAHJUM | (127 )| (1 045 )
----------------------------------------------------------+---------+----------
| |
----------------------------------------------------------+---------+----------
Muu koondkasum (-kahjum) | |
----------------------------------------------------------+---------+----------
Muu koondkasum (-kahjum), mida võib teatud juhtudel| |
reklassifitseerida kasumiaruandesse | |
----------------------------------------------------------+---------+----------
Valuutakursi muutuste mõju | (40 )| 33
----------------------------------------------------------+---------+----------
| |
----------------------------------------------------------+---------+----------
ARUANDEAASTA KOONDKAHJUM | (167 )| (1 012 )
----------------------------------------------------------+---------+----------
| |
----------------------------------------------------------+---------+----------
Tava perioodi puhaskahjum aktsia kohta (lisa 15) | (0,03 )| (0,23 )
----------------------------------------------------------+---------+----------
Lahustatud perioodi puhaskahjum aktsia kohta (lisa 15) | (0,03 )| (0,23 )
Kahjumi katmise ettepanek: katta kahjum eelnevate perioodide jaotamata kasumi
arvelt.
Skano Group AS 2017.a. auditeeritud majandusaasta aruanne on kättesaadav ka
ettevõtte kodulehelt http://www.skano.com (http://www.skano.com/)
Esimese kvartali 2018 vahearuande avalikustamine toimub mitte hiljem kui 31. mai
2018.
Torfinn Losvik
Juhatuse esimees
Telefon: + 372 56 99 09 88
E-mail: [email protected]
Manus
* Skano Group est MAA (https://prlibrary-
eu.nasdaq.com/Resource/Download/f7582b30-576c-4b8b-9ccd-85e4476ac94c)
Content of announcement in English
Title
Audited Annual Report 2017
Message
The Supervisory Board of Skano Group AS approved on 30th of April 2018 the
annual report and loss covering proposal for the year 2017 of Skano Group AS.
OVERVIEW OF OPERATING RESULTS
Skano Group recorded EBITDA for full year 2017 being EUR 973 thousand (which
equates to 6% of sales), which compares favourably with 2016, where EBITDA for
12 months was EUR 119 thousand (1% of sales). It should be noted that 2017 results
were influenced by one-off gains of EUR 46 thousand due to the disposal of Skano's
Ukrainian retail subsidiary in March and EUR 186 thousand from investment property
sale in September.
Net loss for 12 months 2017 was EUR 127 thousand (12M 2016: loss of EUR 1 045
thousand).
Consolidated net sales for 12 months 2017 were EUR 16.36 million, being a 7%
decrease compared to the same period in 2016 (EUR 17.50 million).
Fibreboard sales for 12 months 2017 were EUR 11.84 million, which is 3% less than
same period in 2016 (EUR 12.16 million). Excluding sales to Finland (subdued
demand for fibreboards) and UK (cancelling of contract with one large loss-
making customer), Fibreboard sales for 12 months 2017 increased by 19% compared
to same period last year. Strongest sales growth came from sales to South
Africa, Portugal and Sweden. EBITDA for Fibreboard full year 2017 was EUR 913
thousand (in 2016 EBITDA was EUR 526 thousand).
Furniture wholesale sales full year 2017 were EUR 3.58 million, which is 16% down
on same period last year (2016 EUR 4.24 million). Russia overtook Finland to
become our largest wholesale market, and increased sales with 4% from 2016 to
2017. In Finland, our sole importer recorded sales drop of 32%, however
substantial restructuring made by the importer during the year bode well for
more stable performance in year 2018. EBITDA for furniture wholesale for full
year 2017 was negative EUR 57 thousand (2016 EBITDA was negative EUR 448 thousand).
Furniture retail sales for twelve months 2017 were EUR 1.93 million (2016 EUR 2.20
million), a decrease of 12% compared to 2016. When excluding the discontinued
shop operations in Ukraine and the closure in 2016 of the third Tallinn shop,
sales of our existing six shops in the Baltics showed sales growth of 11% in
2017 compared to 2016. EBITDA for furniture retail for full year 2017 was EUR 117
thousand (2016 EBITDA was negative EUR 75 thousand).
Total Furniture operations of Skano (wholesale and retail) EBITDA for 2017 were
therefore positive EUR 60 thousand (2016 result was EBITDA negative of EUR 523
thousand).
GROUP'S REVENUE BY ACTIVITY
|EUR thousand |% of net sales
---------------------------------------+--------+--------+-------+-------
| 2017 | 2016 |2017 |2016
---------------------------------------+--------+--------+-------+-------
Fibreboards production and sales |11,836 |12,170 | 72 % | 70 %
---------------------------------------+--------+--------+-------+-------
Furniture production and sales | 3,578 | 4,235 | 22 % | 24 %
---------------------------------------+--------+--------+-------+-------
Furniture retail Baltics: todays shops| 1,868 | 1,692 | 11 % | 10 %
---------------------------------------+--------+--------+-------+-------
Furniture retail Baltics: closed shops| 0 | 233 | 0 % | 1 %
---------------------------------------+--------+--------+-------+-------
Furniture retail Ukraine: closed shops| 64 | 278 | 0 % | 2 %
---------------------------------------+--------+--------+-------+-------
Group transactions | (990 )|(1,106 )| (6 %)| (6 %)
---------------------------------------+--------+--------+-------+-------
TOTAL |16,357 |17,502 | 100 % | 100 %
GROUP'S REVENUE BY GEOGRAPHICAL MARKETS
| EUR thousand | % of sales
+--------+--------+----------+----------
| 2017 | 2016 | 2017 | 2016
--------------+--------+--------+----------+----------
Finland | 4,918 | 6,06 | 30 % | 35 %
--------------+--------+--------+----------+----------
Russia | 3,037 | 2,878 | 19 % | 16 %
--------------+--------+--------+----------+----------
Estonia | 2,845 | 3,129 | 17 % | 18 %
--------------+--------+--------+----------+----------
Portugal | 921 | 717 | 6 % | 4 %
--------------+--------+--------+----------+----------
Latvia | 835 | 760 | 5 % | 4 %
--------------+--------+--------+----------+----------
Other EU | 2,122 | 2,797 | 13 % | 16 %
--------------+--------+--------+----------+----------
Africa | 679 | 288 | 4 % | 2 %
--------------+--------+--------+----------+----------
Middle East | 260 | 197 | 2 % | 1 %
--------------+--------+--------+----------+----------
Asia | 241 | 39 | 1 % | 0 %
--------------+--------+--------+----------+----------
Other | 498 | 637 | 3 % | 4 %
--------------+--------+--------+----------+----------
TOTAL | 16,356 | 17,502 | 100 % | 100 %
The Group's total sales have seen increases in new markets, such as South
Africa, Portugal and Sweden, while we recorded sales decline in Finland, Estonia
and UK.
THE GROUP'S PROFIT/LOSS BY SEGMENTS
EUR thousand | 2017 | 2016
-------------------------------------+----------+------------
EBITDA by business units: | |
-------------------------------------+----------+------------
Fibreboards production and sales | 913 | 526
-------------------------------------+----------+------------
Furniture production and wholesale | (57 ) | (448 )
-------------------------------------+----------+------------
Furniture retail | 117 | (75 )
-------------------------------------+----------+------------
incl. furniture retail Ukraine | 0 | (57 )
-------------------------------------+----------+------------
Group transactions | 1 | 116
-------------------------------------+----------+------------
TOTAL EBITDA | 973 | 119
-------------------------------------+----------+------------
Depreciation | (825 ) | (849 )
-------------------------------------+----------+------------
TOTAL OPERATING PROFIT/ LOSS | 148 | (730 )
-------------------------------------+----------+------------
Net financial costs | (275 ) | (310 )
-------------------------------------+----------+------------
Income tax | (0 ) | (6 )
-------------------------------------+----------+------------
NET PROFIT/ LOSS | (127 ) | (1,045 )
STATEMENT OF FINANCIAL POSITION AND CASH FLOW STATEMENT
As of 31.12.2017 the total assets of Skano Group AS were EUR 10.9 million
(31.12.2016: EUR 12.0 million). The liabilities of the company as of 31.12.2017
were EUR 7.2 million (31.12.2016: EUR 8.1 million), of which Skano has borrowings of
EUR 5.0 million (31.12.2016: EUR 5.3 million).
Receivables and prepayments amounted to EUR 1.2 million (31.12.2016: EUR 1.0
million). Inventories were EUR 2.3 million as of 31.12.2017 (31.12.2016: EUR 2.8
million). Non-current assets were EUR 7.3 million as of 31.12.2017 (EUR 8.1 million
as of 31.12.2016).
Liabilities totalled as at 31.12.2017 EUR 7.2million, which is EUR 0.9 million less
compared to 2016 (2016: EUR 8.1 million).
In 2017, the Group's cash flows from operating activities totalled EUR 158
thousand EUR (2016: EUR 300 thousand). Investment activities resulted in negative
cash flows of EUR -145 thousand in 2017, however improvement compared to EUR -364
thousand in 2016. Financing activities also resulted in negative cash flows of EUR
-123 thousand (2016: EUR -77 thousand).
In 2017, investments in non-current assets totalled EUR 352 thousand. In 2016, the
investments totalled EUR 393 thousand.
PERFORMANCE OF BUSINESS UNITS
SKANO FIBREBOARD (including SUOMEN TUULILEIJONA OY)
Skano Fibreboard business activity is producing and sale of fibreboards. Skano
Fibreboard factories are located in Pärnu and Püssi. The subsidiary Suomen
Tuulileijona Oy is registered in Finland and focusing on sale of boards in
Finland.
The total sales of fibreboards for 2017 were EUR 11.84 million, which are 3% down
from year 2016 (EUR 12.17 million) sales level. We recorded good increase in
operating earnings before depreciation, amortisation and interest (i.e. EBITDA),
up from EUR 526 thousand in 2016 to EUR 913 thousand in 2017.
Strong sales growth was recorded in South Africa, Portugal and Sweden while
largest sales decline was recorded in Finland (weak demand) and Great Britain
(cancelling of one large loss-making customer).
THE SALES OF SKANO FIBREBOARD BY COUNTRY
| |% of net
|EUR thousand |sales
+------+------+------+------
|2017 |2016 |2017 |2016
---------------------------------------------------+------+------+------+------
European Union (including Suomen Tuulileijona| | | |
sales) | 8,700| 9,822| 74 %| 81 %
---------------------------------------------------+------+------+------+------
Russia | 1,631| 1,527| 14 %| 13 %
---------------------------------------------------+------+------+------+------
Africa | 679| 288| 6 %| 2 %
---------------------------------------------------+------+------+------+------
Middle East | 260| 197| 2 %| 2 %
---------------------------------------------------+------+------+------+------
Asia | 241| 39| 2 %| 0 %
---------------------------------------------------+------+------+------+------
Other | 325| 297| 3 %| 2 %
---------------------------------------------------+------+------+------+------
TOTAL |11,836|12,170| 100 %| 100 %
Interior finishing boards
Interior finishing boards are 100% produced under Isotex brand. Interior
finishing boards are made of natural softboard, which is produced in Pärnu
fibreboard factory's main production line and the boards have milled tenons and
the surface is covered with paper or textile. This technology enables to produce
boards of different colours and patterns.
General construction boards
Wind-protection boards continued to be the largest product group at Pärnu
softboard factory. The main product group of Püssi fibreboard factory is boards
for the pin board segment, which Skano sells across several continents.
SKANO FURNITURE FACTORY (including SKANO FURNITURE OÜ)
FURNITURE PRODUCTION AND WHOLESALE
Sales dropped to EUR 3.58 million in 2017, down from EUR 4.24 million in 2016.
However, our largest market Russia experienced sales growth of 4% up from year
2016, while our sole importer in Finland recorded sales decline of 32%. Sales to
Skano retail units increased its share of total furniture sales within the
Group, and further focus on retail activities should continue to provide more
sales stability.
The sales of the furniture factory by country
| EUR thousand | % of net sales
------------------+-------+-------+----------+----------
| 2017 | 2016 | 2017 | 2016
------------------+-------+-------+----------+----------
Russia | 1,406 | 1,349 | 39 % | 32 %
------------------+-------+-------+----------+----------
Finland | 995 | 1,463 | 28 % | 35 %
------------------+-------+-------+----------+----------
Skano Retail | 900 | 1,007 | 25 % | 24 %
------------------+-------+-------+----------+----------
Other countries | 278 | 416 | 8 % | 10 %
------------------+-------+-------+----------+----------
TOTAL | 3,579 | 4,235 | 100 % | 100 %
SKANO FURNITURE: RETAIL SALES
Skano group retail business is operated by a subsidiary Skano Furniture OÜ and
its subsidiaries in Latvia, Lithuania and Ukraine (the Ukraine business was sold
in March 2017). As of 31.12.2017 Skano has a total of 6 stores: two stores in
Tallinn, one store in Tartu, one store in Pärnu, one store in Riga and one store
in Vilnius.
Skano group retail business recorded sales of EUR 1.93 million in 2017, which is
12% decline from year 2016 (EUR 2.20 million). However, the 6 ongoing shops in the
Baltics increased sales in 2017 with 11% up from 2016.
RETAIL SALES BY COUNTRY
| |% of net|
|EUR thousand |sales |Number of stores
+-----+-----+------+------+----------+----------
|2017 |2016 |2017 |2016 |31.12.2017|31.12.2016
----------------------+-----+-----+------+------+----------+----------
Estonia* |1,266|1,089| 66 %| 49 %| 4| 4
----------------------+-----+-----+------+------+----------+----------
Estonia (closed shop)| 0| 233| 0 %| 11 %| 0| 1
----------------------+-----+-----+------+------+----------+----------
Latvia | 356| 363| 18 %| 16 %| 1| 1
----------------------+-----+-----+------+------+----------+----------
Lithuania | 246| 231| 13 %| 10 %| 1| 1
----------------------+-----+-----+------+------+----------+----------
Ukraine** | 64| 278| 3 %| 13 %| 0| 2
----------------------+-----+-----+------+------+----------+----------
Other countries | 0| 8| 0 %| 0 %| 0| 0
----------------------+-----+-----+------+------+----------+----------
TOTAL (ongoing shops)|1,932|2,202| 100 %| 100 %| 6| 8
* Ongoing shops
** Ukraine business was sold in March 2017
FORECAST AND DEVELOPMENT
SKANO FIBREBOARD (with Finnish subsidiary)
We are planning to widen our business in Middle East and Asia, while securing
our position in the European market. Further focus has been applied on those
product applications where Skano Fibreboard has a clear competitive edge.
SKANO FURNITURE FACTORY
Extensive streamlining of the unit´s cost structure has helped to improve
profitability. Production processes have been aligned to better meet today's
competitive environment.
SKANO FURNITURE RETAIL SALES
We expect our shops in the Baltics to continue their steady performance from
last year, and we are looking to open additional shops in the Baltics this year.
FINANCIAL RATIOS
EUR thousand | 2017 | 2016
------------------------------------+-----------------+-----------------
Income statement | |
------------------------------------+-----------------+-----------------
Revenue | 16,357 | 17,502
------------------------------------+-----------------+-----------------
EBITDA | 973 | 117
------------------------------------+-----------------+-----------------
EBITDA margin | 6 % | 1 %
------------------------------------+-----------------+-----------------
Operating profit (loss) | 148 | (731 )
------------------------------------+-----------------+-----------------
Operating margin | 1 % | (4 %)
------------------------------------+-----------------+-----------------
Net profit (loss) | (127 ) | (1,047 )
------------------------------------+-----------------+-----------------
Net margin | (1 %) | (6 %)
------------------------------------+-----------------+-----------------
| |
------------------------------------+-----------------+-----------------
Statement of financial position | 31.12.2017 | 31.12.2016
------------------------------------+-----------------+-----------------
Total assets | 10,937 | 11,965
------------------------------------+-----------------+-----------------
Return on assets | (1 %) | (9 %)
------------------------------------+-----------------+-----------------
Equity | 3753 | 3901
------------------------------------+-----------------+-----------------
Return on equity | (3 %) | (27 %)
------------------------------------+-----------------+-----------------
Debt-to-equity ratio | 66 % | 67 %
------------------------------------+-----------------+-----------------
| |
------------------------------------+-----------------+-----------------
Share | 31.12.2017 | 31.12.2016
------------------------------------+-----------------+-----------------
Last Price* | 0.62 | 0.46
------------------------------------+-----------------+-----------------
Earnings per share | (0.03 ) | (0.23 )
------------------------------------+-----------------+-----------------
Price-earnings ratio | (21.74 ) | (1.96 )
------------------------------------+-----------------+-----------------
Book value of a share | 0.83 | 0.87
------------------------------------+-----------------+-----------------
Market to book ratio | 0.74 | 0.52
------------------------------------+-----------------+-----------------
Market capitalization, EUR thousand | 2,771 | 2,047
------------------------------------+-----------------+-----------------
Number of shares | 4,499,061 | 4,499,061
EBITDA = operating profit + depreciation
EBITDA margin = EBITDA / revenue
Operating margin = operating profit (loss) / revenue
Net margin = net profit (loss) / revenue
Return on total assets = net profit (loss) / total assets
Return on equity = net profit (loss) / equity
Debt ratio = liabilities / total assets
Earnings (loss) per share = net profit (loss) / number of shares
Price/earnings (PE) ratio = last price / earnings per share
Book value of share = equity / number of shares
Market to book value = last price / book value of share
Market capitalisation = last price * number of shares
*
http://www.nasdaqbaltic.com/market/?instrument=EE3100092503&list=3&pg=details&ta
b=historical
CONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
EUR thousand | 31.12.2017 | 31.12.2016
-----------------------------------------------+------------+------------
Cash and cash equivalents (Note 3) | 74 | 184
-----------------------------------------------+------------+------------
Receivables and prepayments (Notes 3; 5) | 1,215 | 965
-----------------------------------------------+------------+------------
Inventories (Note 6) | 2,336 | 2,760
-----------------------------------------------+------------+------------
| |
-----------------------------------------------+------------+------------
Total current assets | 3,624 | 3,909
-----------------------------------------------+------------+------------
| |
-----------------------------------------------+------------+------------
Investment property (Note 7) | 170 | 405
-----------------------------------------------+------------+------------
Available-for-sale financial assets (Note 9) | 182 | 0
-----------------------------------------------+------------+------------
Other shares and issues (Note 14) | 7 | 0
-----------------------------------------------+------------+------------
Property, plant and equipment (Note 8) | 6,908 | 7,584
-----------------------------------------------+------------+------------
Intangible assets (Note 8) | 47 | 66
-----------------------------------------------+------------+------------
| |
-----------------------------------------------+------------+------------
Total non-current assets | 7,313 | 8,055
-----------------------------------------------+------------+------------
| |
-----------------------------------------------+------------+------------
TOTAL ASSETS | 10,937 | 11,964
-----------------------------------------------+------------+------------
| |
-----------------------------------------------+------------+------------
Borrowings (Notes 3; 10) | 593 | 1,176
-----------------------------------------------+------------+------------
Payables and prepayments (Notes 3; 12) | 1,956 | 2,497
-----------------------------------------------+------------+------------
Short-term provisions (Note 13) | 13 | 15
-----------------------------------------------+------------+------------
| |
-----------------------------------------------+------------+------------
Total current liabilities | 2,562 | 3,688
-----------------------------------------------+------------+------------
| |
-----------------------------------------------+------------+------------
Long-term borrowings (Notes 3; 10) | 4,422 | 4,163
-----------------------------------------------+------------+------------
Long-term provisions (Note 13) | 200 | 213
-----------------------------------------------+------------+------------
Total non-current liabilities | 4,622 | 4,376
-----------------------------------------------+------------+------------
| |
-----------------------------------------------+------------+------------
Total liabilities | 7,184 | 8,064
-----------------------------------------------+------------+------------
| |
-----------------------------------------------+------------+------------
Share capital (at nominal value) (Note 14) | 2,699 | 2,699
-----------------------------------------------+------------+------------
Share premium | 364 | 364
-----------------------------------------------+------------+------------
Statutory reserve capital | 288 | 288
-----------------------------------------------+------------+------------
Other reserves | 9 | 2
-----------------------------------------------+------------+------------
Unrealised currency differences | 0 | 40
-----------------------------------------------+------------+------------
Retained earnings | 393 | 507
-----------------------------------------------+------------+------------
| |
-----------------------------------------------+------------+------------
Total equity (Note 14) | 3,753 | 3,900
-----------------------------------------------+------------+------------
| |
-----------------------------------------------+------------+------------
TOTAL LIABILITIES AND EQUITY | 10,937 | 11,964
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
EUR thousand | 2017 | 2016
-----------------------------------------------------------+---------+---------
Revenue (Note 25) | 16,357 | 17,502
-----------------------------------------------------------+---------+---------
Cost of goods sold (Note 16) |(13,419 )|(14,425 )
-----------------------------------------------------------+---------+---------
| |
-----------------------------------------------------------+---------+---------
Gross profit | 2,938 | 3,077
-----------------------------------------------------------+---------+---------
| |
-----------------------------------------------------------+---------+---------
Distribution costs (Note 17) | (2,040 )|(2,939 )
-----------------------------------------------------------+---------+---------
Administrative expenses (Note 18) | (703 )| (595 )
-----------------------------------------------------------+---------+---------
Other operating income (Note 20) | 255 | 54
-----------------------------------------------------------+---------+---------
Other operating expenses (Note 21) | (301 )| (327 )
-----------------------------------------------------------+---------+---------
| |
-----------------------------------------------------------+---------+---------
Operating profit (loss) (Note 25) | 149 | (730 )
-----------------------------------------------------------+---------+---------
| |
-----------------------------------------------------------+---------+---------
Finance income (Note 22) | 4 | 0
-----------------------------------------------------------+---------+---------
Finance costs (Note 22) | (279 )| (309 )
-----------------------------------------------------------+---------+---------
| |
-----------------------------------------------------------+---------+---------
LOSS BEFORE INCOME TAX | (127 )| (1,039 )
-----------------------------------------------------------+---------+---------
Corporate income tax (Notes 14; 23) | (0 )| (6 )
-----------------------------------------------------------+---------+---------
| |
-----------------------------------------------------------+---------+---------
NET LOSS FOR THE FINANCIAL YEAR | (127 )| (1,045 )
-----------------------------------------------------------+---------+---------
| |
-----------------------------------------------------------+---------+---------
Other comprehensive income (loss) | |
-----------------------------------------------------------+---------+---------
Other comprehensive income (loss) that can in certain| |
cases be reclassified to the income statement | |
-----------------------------------------------------------+---------+---------
Currency translation differences | (40 )| 33
-----------------------------------------------------------+---------+---------
| |
-----------------------------------------------------------+---------+---------
TOTAL COMPREHENSIVE LOSS FOR THE FINANCIAL YEAR | (167 )| (1,012 )
-----------------------------------------------------------+---------+---------
| |
-----------------------------------------------------------+---------+---------
Basic earnings per share (Note 15) | (0.03 )| (0.23 )
-----------------------------------------------------------+---------+---------
Diluted earnings per share (Note 15) | (0.03 )| (0.23 )
Proposal for covering of loss: to cover the loss with retained earnings.
The audited Annual Report 2017 of Skano Group AS is also available on company's
web page http://www.skano.com (http://www.skano.com/)
Publishing of interim report for the first quarter of 2018 will be not later
then the 31st of May 2018.
Torfinn Losvik
CEO & Chairman of the Management Board
Phone: + 372 56 99 09 88
E-mail: [email protected]
Attachment
* Skano Group eng MAA (https://prlibrary-
eu.nasdaq.com/Resource/Download/92e403fa-cb8b-4e84-898a-ff015a64a7ae)