Market announcement
AS BALTIKA
LEI code
48510000I3W254YEMG75
General information
Categories
Other corporate action
Unique data record identifier
7079
Submission date and time
25.01.2019 16:05:00
Content of announcement in Estonian
Title
Baltika vähendab oluliselt oma äri riskantsetel Ida-Euroopa turgudel
Message
Ukraina, Valgevene ja Venemaa keerulise majandusliku ja poliitilise olukorra tõttu on sealsetel turgudel Baltika frantsiisipartnerite müügimahud ning maksevõime oluliselt vähenenud, mistõttu lõpetab AS Baltika selle aasta esimeses kvartalis ennetähtaegselt frantsiisilepingud Valgevene ja Ukraina partneritega. Koostööd Venemaa frantsiisipartneriga jätkatakse, kuid vähendatud mahus. Ukraina frantsiispartneriga, Baltika Retail Ukraina Ltd, sõlmiti leping 2014. aastal ning Valgevene frantsiisipartneriga Valanga OOO 2013. aastal. Ukraina ebastabiilse majanduskeskkonna ja 2018. aasta novembris väljakuulutatud sõjaseisukorra tõttu on sealsed müügimahud järsult langenud. Keerulised majandusolud valitsevad ka Valgevenes, kus Baltika senine frantsiisipartner Valanga OOO on otsustanud väljuda moeärist. Koostöös Venemaa frantsiisipartneriga OÜ Ellipse Group on koostatud kava kahjumlike poodide sulgemiseks ning kokku on lepitud uued kaubalähetuse ja maksetingimused. Tulenevalt eelnevast hindab Baltika nõuded Ida-Euroopa partnerite vastu mitte täies ulatuses laekuvateks ning moodustab selleks 2018. aastal allahindluse reservi ligikaudses summas 1 200 tuhat eurot. Lepingute lõpetamisel väheneb Baltika 2019. aasta hulgimüügi ja frantsiisi müügitulu hinnanguliselt 1 000 tuhat eurot. Maigi Pärnik-Pernik Juhatuse liige [email protected]
Content of announcement in English
Title
Baltika Significantly Reduces Business on Risky Eastern European Markets
Message
As the complex economic and political situation in Ukraine, Belarus, and Russia has caused a significant decrease in sales volumes and solvency of Baltika's franchise partners on these markets, AS Baltika decided to terminate franchise agreements before the end of their period of validity with Belarusian and Ukrainian partners in the first quarter of this year. Cooperation with Russian franchise partner will continue but on a smaller scale. The franchise agreement with the Ukrainian partner, Baltika Retail Ukraina Ltd, was signed in 2014, and the franchise agreement with the Belarusian partner, Valanga OOO, in 2013. Ukraine's unstable economic environment and the announcement of state of war in November 2018 caused a sharp decrease in sales volumes. The economic situation in Belarus is complex as well, and Baltika's current franchise partner Valanga OOO has decided to exit the fashion industry. A plan to close unprofitable shops has been made and new terms of payment and shipment of goods have been agreed on in cooperation with the Russian franchise partner OÜ Ellipse Group. Consequently, Baltika evaluates the Eastern European partners' liabilities as not fully collectable and thus creates an allowance for impairment in 2018 in the sum of approximately 1,200 thousand euros. The early termination of the agreements results in a decrease of nearly 1,000 thousand euros in Baltika`s wholesale and franchise sales revenue in 2019. Maigi Pärnik-Pernik Member of the Management Board [email protected]