Market announcement
AS Silvano Fashion Group
LEI code
529900JNG41RRJKJYB65
Size of the entity
Large group
Economic activities
Financial and Insurance Activities
Country of registered office
Estonia
General information
Categories
Other corporate action
Unique data record identifier
8831
Attachments
Submission date and time
21.05.2021 16:00:00
Content of announcement in Estonian
Title
Silvano Fashion Group 2021.aasta I kvartali konsolideeritud vahearuanne (auditeerimata)
Message
Põhilised finantsnäitajad Kontserni 2021. aasta I kvartali (võrrelduna 2020. aasta I kvartaliga) ja 31.03.2021 (võrrelduna 31.12.2020) põhilised finantsnäitajad on järgmised: ------------------------------------------------------------------------------- tuhandetes eurodes I kvartal 2021 I kvartal 2020 Muutus ------------------------------------------------------------------------------- Müügitulu 10 265 11 546 -11,1% Brutokasum 6 242 7 146 -12,7% Ärikasum 3 285 3 152 4,2% EBITDA 4 080 4 248 -4,0% Aruandeperioodi puhaskasum 2 564 -1 440 278,1% Puhaskasum (kahjum), emaettevõtte omanike osa 2 261 -1 406 260,8% Kasum aktsia kohta (eurodes) 0,06 -0,04 250,0% Äritegevuse rahavoog perioodil 3 589 1 876 91,3% ------------------------------------------------------------------------ tuhandetes eurodes 31.03.2021 31.12.2020 Muutus ------------------------------------------------------------------------ Varad kokku 46 279 42 256 9,5% Käibevarad kokku 32 959 29 597 11,4% Omakapital kokku, emaettevõtte omanike osa 26 668 24 504 8,8% Raha ja raha ekvivalendid 11 024 8 980 22,8% ------------------------------------------------------------------------------- Rentaablusanalüüs, % I kvartal 2021 I kvartal 2020 Muutus ------------------------------------------------------------------------------- Brutokasum 60,8 61,9 -1,8% Ärikasum 32,0 27,3 17,2% EBITDA 39,7 36,8 7,9% Puhaskasum (kahjum) 25,0 -12,5 300,0% Puhaskasum (kahjum), emaettevõtte omanike osa 22,0 -12,2 280,3% -------------------------------------------------------------------------- Finantssuhtarvud, % 31.03.2021 31.12.2020 Muutus -------------------------------------------------------------------------- ROA 13,9 3,2 334,4% ROE 24,0 5,6 328,6% Hinna/ kasumi suhe 9,5 41,7 -77,2% Lühiajaliste kohustuste kattekordaja 3,2 3,4 -5,9% Likviidsuskordaja 1,3 1,3 -0,0% Majandustulemused Kontserni 2021. aasta I kvartali käive moodustas 10 265 tuhat eurot, langus eelmise aasta sama perioodiga võrreldes on 11,1%. Jaemüügi käive vähenes 18,6% võrra, mõõdetuna eurodes. Kontserni 2021. aasta I kvartali brutokasum oli 6 242 tuhat eurot, vähenedes eelmise aastaga võrreldes 12,7%. Perioodi brutokasumi marginaal vähenes 2021. aasta I kvartali jooksul 61,9%-lt 60,8%-le. Müüdud toodangu kulu vähenes 8,6% võrra. 2021. aasta I kvartali konsolideeritud ärikasum suurenes 4,2% ja ulatus 3 285 tuhande euroni võrreldes 2020. aasta I kvartali konsolideeritud ärikasumiga summas 3 152 tuhat eurot. 2021. aasta I kvartali ärikasumi rentaablus oli 32,0% võrreldes 27,3%-ga eelmise aasta samal perioodil. Konsolideeritud EBITDA vähenes 4,0% ja moodustas 2021. aasta I kvartaliga 4 080 tuhat eurot, mis tähendab 39,7% rentaablust (4 248 tuhat eurot ja 36,8% eelmise aasta samal perioodil). Ettevõtte puhaskasum emaettevõtte aktsionäridele moodustas 2021. aasta I kvartaliga 2 261 tuhat eurot võrreldes puhaskahjumiga -1 406 tuhat eurot 2020. aasta I kvartaliga, puhaskasumi (kahjumi) marginaal emaettevõtte aktsionäridele moodustas 2021. aasta I kvartalis 22,0% võrreldes -12,2%-ga eelmise aasta samal perioodil. Finantsseisund Seisuga 31. märts 2021 ulatus kontserni konsolideeritud varade maht 46 279 tuhande euroni, suurenedes 9,5% võrreldes 31. detsembriga 2020. Võrreldes 31. detsembriga 2020 suurenesid nõuded ostjate vastu ja muud nõuded 194 tuhande euro võrra ja moodustasid 2021. aasta 31. märtsi seisuga 2 282 tuhat eurot. Varude saldo suurenes 1 124 tuhande euro võrra ning 2021. aasta 31. märtsi seisuga moodustas 19 651 tuhat eurot. Emaettevõtte aktsionäride osa omakapitalis suurenes 2 164 tuhande euro võrra, ulatudes 2021. aasta 31. märtsi seisuga 26 668 tuhande euroni. Lühiajalised kohustused suurenesid 2021.aasta I kvartaliga 1 479 tuhande euro võrra. Investeeringud Kontserni 2021. aasta I kvartali investeeringute kogumaht materiaalsesse põhivarasse, tehasesse ja seadmetesse moodustas 78 tuhat eurot, 96 tuhat eurot eelmise aasta samal perioodil. Investeeringud teostati peamiselt oma poodide avamisse ja renoveerimisse, samuti seadmetesse ja hoonetesse tootmise efektiivsuse säilitamiseks tulevastes perioodides. Personal 2021. aasta 31. märtsi seisuga oli kontsernil 1 734 töötajat, neist 510 töötas jaemüügi segmendis. Ülejäänud töötajad tegutsesid tootmise, hulgimüügi-, haldus- ja tugiteenuste valdkondades. 31.12.2020 seisuga oli 1 744 töötajat, neist 500 töötas jaemüügi segmendis. Kontserni 2021. aasta I kvartali palgakulu koos maksudega oli 2 359 tuhat eurot (3 145 tuhat eurot 2020.aasta I kvartaliga). Kontserni juhtkonna võtmeisikute töötasud, sealhulgas tütarettevõtete võtmeisikute tasud, moodustasid kokku 148 tuhat eurot. Konsolideeritud finantsseisundi aruanne ------------------------------------------------------------------------------- tuhandetes eurodes Lisad 31.03.2021 31.12.2020 ------------------------------------------------------------------------------- Auditeerimata Auditeeritud ------------------------------------------------------------------------------- VARAD Käibevara Raha ja rahalähendid 2 11 024 8 980 Väljaantud laenud 2 2 Nõuded ostjate vastu ja muud nõuded 3 2 282 2 088 Varud 4 19 651 18 527 Käibevara kokku 32 959 29 597 Põhivara Pikaajalised nõuded 250 249 Investeeringud sidusettevõtetesse 53 57 Investeeringud muudesse osadesse ja aktsiatesse 245 238 Edasilükkunud tulumaksuvara 1 071 1 032 Immateriaalne põhivara 426 374 Kinnisvarainvesteeringud 1 039 1 018 Materiaalne põhivara 5 10 236 9 691 Põhivara kokku 13 320 12 659 VARAD KOKKU 46 279 42 256 KOHUSTUSED JA OMAKAPITAL Lühiajalised kohustused Lühiajalised laenukohustused 0 400 Lühiajalised rendikohustused 1 881 2 121 Võlad tarnijatele ja muud võlad 6 6 363 5 583 Sihtfinantseerimine 52 0 Maksukohustised 1 962 675 Lühiajalised kohustused kokku 10 258 8 779 Pikaajalised kohustused Edasilükkunud tulumaksukohustis 531 500 Pikaajalised laenukohustutsed 0 400 Pikaajalised rendikohustused 5 518 4 707 Pikaajalised eraldised 54 52 Pikaajalised kohustused kokku 6 103 5 659 Kohustused kokku 16 361 14 438 Omakapital Aktsiakapital 7 3 600 3 600 Ülekurss 4 967 4 967 Kohustuslik reservkapital 1 306 1 306 Ümberhindluse reserv 355 355 Realiseerimata kursivahed -18 961 -18 864 Jaotamata kasum 35 401 33 140 Omakapital kokku, emaettevõtte omanike osa 26 668 24 504 Vähemusosalus 3 250 3 314 Omakapital kokku 29 918 27 818 OMAKAPITAL JA KOHUSTUSED KOKKU 46 279 42 256 Konsolideeritud kasumiaruanne ------------------------------------------------------------------------------- tuhandetes eurodes Lisad I kvartal 2021 I kvartal 2020 ------------------------------------------------------------------------------- Auditeerimata Auditeerimata ------------------------------------------------------------------------------- Kliendilepingutest saadav tulu 9 10 265 11 546 Müüdud toodangu kulu -4 023 -4 400 Brutokasum 6 242 7 146 Turustuskulud -2 110 -2 734 Üldhalduskulud -885 -1 122 Muud äritulud 181 59 Muud ärikulud -143 -197 Ärikasum 3 285 3 152 Tulu/(kulu) valuutakursi muutustest 455 -4 730 Muud finantstu/(kulu) -110 -125 Finantstulud /(-kulud) kokku 345 -4 855 Kasum (kahjum) sidusettevõtetest kapitaliosaluse meetodil -6 0 Kasum enne tulumaksu 3 624 -1 703 Tulumaksukulu -1 060 263 Aruandeperioodi kasum 2 564 -1 440 Sealhulgas: Emaettevõte omanike osa kasumist 2 261 -1 406 Vähemusosaluse osa kasumist 303 -34 Tava- ja lahustatud kasum emaettevõtte omanike aktsia kohta (eurodes) 0,06 -0,04 Konsolideeritud koondkasumiaruanne ------------------------------------------------------------------------------- tuhandetes eurodes Lisad I kvartal 2021 I kvartal 2020 ------------------------------------------------------------------------------- Auditeerimata Auditeerimata ------------------------------------------------------------------------------- Aruandeperioodi kasum 2 564 -1 440 Muu koondkasum Muu koondkasum, mida võib hiljem kasumiaruandesse ümber klassifitseerida: Kursivahede mõju välismaiste äriüksuste tulemuste ümberarvestamisele 229 -2 225 Aruandeperioodi muu koondkasum 229 -2 225 Perioodi koondkasum (kahjum) kokku 2 793 -3 665 Sealhulgas: Emaettevõtte omanike osa koondkasumist 2 164 -3 983 Vähemusosaluse osa koondkasumist 629 318 Konsolideeritud rahavoogude aruanne ------------------------------------------------------------------------------- tuhandetes eurodes I kvartal 2021 I kvartal 2020 ------------------------------------------------------------------------------- Auditeerimata Auditeerimata ------------------------------------------------------------------------------- Rahavood äritegevusest Perioodi kasum (kahjum) 2 564 -1 440 Korrigeerimised: Põhivara kulum 795 1 096 Kasum kapitaliosaluse meetodil kajastatud investeeringutest 6 0 (Kasum)/kahjum materiaalse põhivara müügist 0 2 Finantstulud ja -kulud kokku -604 305 Varude eraldis 3 1 Laekumised sihtfinantseerimisest 150 0 Eraldiste ja sihtfinantseerimise muutus -98 0 Tulumaksukulu 1 060 -263 Varude muutus -1 124 2 137 Muutused nõuetes ostjate vastu ja muudes nõuetes -208 243 Muutused võlgades tarnijatele ja muudes võlgades 1 192 -86 Tasutud intressid -2 0 Makstud tulumaks - 145 - 119 Rahavood äritegevusest kokku 3 589 1 876 Rahavood investeerimistegevusest Saadud intressid 4 5 Materiaalse põhivara müük 0 28 Materiaalse põhivara soetamine -78 -96 Immateriaalse põhivara soetamine -48 -50 Rahavood investeerimistegevusest kokku -122 -113 Rahavood finantseerimistegevusest Vähemusosaluste omandamine 0 -26 Saadud laenude tagasimaksed -800 0 Rendikohustiste põhiosamaksed -530 -682 Rendikohustisstelt tasutud intress -114 -136 Rahavood finantseerimistegevusest kokku -1 444 -844 Raha ja raha ekvivalentide muutus 2 023 919 Raha ja raha ekvivalendid perioodi alguses 8 980 5 152 Valuutakursside muutuste mõju rahavoogudele 21 279 Raha ja raha ekvivalendid perioodi lõpus 11 024 6 350 Jarek Särgava AS Silvano Fashion Group Juhatuse liige Tel: +372 6845 000 Email: [email protected]
Content of announcement in English
Title
Silvano Fashion Group Consolidated Interim Financial Report for Q1 of 2021 (unaudited)
Message
Selected Financial Indicators Summarized selected financial indicators of the Group for Q1 of 2021 compared to Q1 of 2020 and 31.03.2021 compared to 31.12.2020 were as follows: ------------------------------------------------------------------------------- in thousands of EUR 1Q 2021 1Q 2020 Change ------------------------------------------------------------------------------- Revenue 10 265 11 546 -11.1% Gross Profit 6 242 7 146 -12.7% Operating profit 3 285 3 152 4.2% EBITDA 4 080 4 248 -4.0% Net profit for the period 2 564 -1 440 278.1% Net profit attributable equity holders of the Parent company 2 261 -1 406 260.8% Earnings per share (EUR) 0,06 -0,04 250.0% Operating cash flow for the period 3 589 1 876 91.3% ------------------------------------------------------------------------------- in thousands of EUR 31.03.2021 31.12.2020 Change ------------------------------------------------------------------------------- Total assets 46 279 42 256 9.5% Total current assets 32 959 29 597 11.4% Total equity attributable to equity holders of the Parent company 26 668 24 504 8.8% Cash and cash equivalents 11 024 8 980 22.8% ------------------------------------------------------------------------------- Margin analysis, % 1Q 2021 1Q 2020 Change ------------------------------------------------------------------------------- Gross profit 60,8 61,9 -1.8% Operating profit 32,0 27,3 17.2% EBITDA 39,7 36,8 7.9% Net profit 25,0 -12,5 300.0% Net profit attributable to equity holders of the Parent company 22,0 -12,2 280.3% ------------------------------------------------------------------------------- Financial ratios, % 31.03.2021 31.12.2020 Change ------------------------------------------------------------------------------- ROA 13,9 3,2 334.4% ROE 24,0 5,6 328.6% Price to earnings ratio (P/E) 9,5 41,7 -77.2% Current ratio 3,2 3,4 -5.9% Quick ratio 1,3 1,3 -0.0% Financial performance The Group`s sales amounted to 10 265 thousand EUR during Q1 of 2021, representing a 11.1% decrease as compared to the same period of previous year. Overall, retail decreased by 18.6%, measured in EUR. The Group's gross profit during Q1 of 2021 amounted to 6 242 thousand EUR and decrease by 12.7% compared to previous year. The gross margin during Q1 of 2021 decreased to 60.8%, from 61.9% in the respective period of previous year. The cost of sold goods decreased by 8.6%. Consolidated operating profit for Q1 of 2021 amounted to 3 285 thousand EUR, compared to 3 152 thousand EUR in Q1 of 2020, increase by 4.2%. The consolidated operating profit margin was 32.0% for Q1 of 2021 (27.3% in Q1 of 2020). Consolidated EBITDA for Q1 of 2021 decreased by 4.0% and amounted to 4 080 thousand EUR, which is 39.7% in margin terms (4 248 thousand EUR and 36.8% for Q1 of 2020). Reported consolidated net profit attributable to equity holders of the Parent company for Q1 of 2021 amounted to 2 261 thousand EUR, compared to net loss of - 1 406 thousand EUR in Q1 of 2020, net profit (loss) margin attributable to equity holders of the Parent company for Q1 of 2021 was 22.0% against -12.2% in Q1 of 2020. Financial position As of 31 March 2021 consolidated assets amounted to 46 279 thousand EUR representing increase by 9.5% as compared to the position as of 31 December 2020. Trade and other receivables increased by 194 thousand EUR as compared to 31 December 2020 and amounted to 2 282 thousand EUR as of 31 March 2021. Inventory balance increased by 1 124 thousand EUR and amounted to 19 651 thousand EUR as of 31 March 2021. Equity attributable to equity holders of the Parent company increased by 2 164 thousand EUR and amounted to 26 668 thousand EUR as of 31 March 2021. Current liabilities increased by 1 479 thousand EUR during Q1 of 2021. Investments During Q1 of 2021 the Group's investments into property, plant and equipment totalled 78 thousand EUR, in previous year same period 96 thousand EUR. Investments were made mainly into opening and renovating own stores, as well into equipment and facilities to maintain effective production for future periods. Personnel As of 31 March 2021, the Group employed 1 734 employees, including 510 people in retail operations. The rest were employed in production, wholesale, administration and support operations. In 31.12.2020 there were 1 744 employees, including 500 people in retail operations. Total salaries and related taxes during Q1 of 2021 amounted to 2 359 thousand EUR (3 145 thousand EUR in Q1 of 2020). The remuneration of key management of the Group, including the key executives of all subsidiaries, totalled 148 thousand EUR. Consolidated Statement of Financial Position ------------------------------------------------------------------------------- in thousands of EUR Note 31.03.2021 31.12.2020 ------------------------------------------------------------------------------- Unaudited Audited ------------------------------------------------------------------------------- ASSETS Current assets Cash and cash equivalents 2 11 024 8 980 Current loans granted 2 2 Trade and other receivables 3 2 282 2 088 Inventories 4 19 651 18 527 Total current assets 32 959 29 597 Non-current assets Long-term receivables 250 249 Investments in associates 53 57 Investments in other shares 245 238 Deferred tax asset 1 071 1 032 Intangible assets 426 374 Investment property 1 039 1 018 Property, plant and equipment 5 10 236 9 691 Total non-current assets 13 320 12 659 TOTAL ASSETS 46 279 42 256 LIABILITIES AND EQUITY Current liabilities Short-term borrowings 0 400 Short-term lease liabilities 1 881 2 121 Trade and other payables 6 6 363 5 583 Goverment Grants 52 0 Tax liabilities 1 962 675 Total current liabilities 10 258 8 779 Non-current liabilities Deferred tax liability 531 500 Long-term borrowings 0 400 Long-term lease obligations 5 518 4 707 Long-term provisions 54 52 Total non-current liabilities 6 103 5 659 Total liabilities 16 361 14 438 Equity Share capital 7 3 600 3 600 Share premium 4 967 4 967 Statutory reserve capital 1 306 1 306 Revaluation reserve 355 355 Unrealised exchange rate differences -18 961 -18 864 Retained earnings 35 401 33 140 Total equity attributable to equity holders of the Parent company 26 668 24 504 Non-controlling interest 3 250 3 314 Total equity 29 918 27 818 TOTAL EQUITY AND LIABILITIES 46 279 42 256 Consolidated Income Statement ------------------------------------------------------------------------------- in thousands of EUR Note Q1 2021 Q1 2020 ------------------------------------------------------------------------------- Unaudited Unaudited ------------------------------------------------------------------------------- Revenue from contracts with customers 9 10 265 11 546 Cost of goods sold -4 023 -4 400 Gross Profit 6 242 7 146 Distribution expenses -2 110 -2 734 Administrative expenses -885 -1 122 Other operating income 181 59 Other operating expenses -143 -197 Operating profit 3 285 3 152 Currency exchange income/(expense) 455 -4 730 Other finance income/(expenses) -110 -125 Net financial income/(expenses) 345 -4 855 Profit (loss) from associates using equity method -6 0 Profit before tax 3 624 -1 703 Income tax expense -1 060 263 Profit for the period 2 564 -1 440 Attributable to : Equity holders of the Parent company 2 261 -1 406 Non-controlling interest 303 -34 Earnings per share from profit attributable to equity holders of the Parent company, both basic and diluted (EUR) 0.06 -0.04 Consolidated Statement of Comprehensive Income ------------------------------------------------------------------------------- in thousands of EUR Note Q1 2021 Q1 2020 ------------------------------------------------------------------------------- Unaudited Unaudited ------------------------------------------------------------------------------- Profit for the period 2 564 -1 440 Other comprehensive income for the period Other comprehensive income (loss) that will be reclassified to profit or loss in subsequent periods : Exchange differences on translation of foreign operations 229 -2 225 Total other comprehensive income for the period 229 -2 225 Total comprehensive income (loss) for the period 2 793 -3 665 Attributable to : Equity holders of the Parent company 2 164 -3 983 Non-controlling interest 629 318 Consolidated Statement of Cash Flows ------------------------------------------------------------------------------- in thousands of EUR Note 1Q 2021 1Q 2020 ------------------------------------------------------------------------------- Unaudited Unaudited ------------------------------------------------------------------------------- Cash flow from operating activities Profit for the period 2 564 -1 440 Adjustments for: Depreciation and amortization of non-current assets 795 1 096 Share of profit of equity accounted investees 6 0 (Gains)/ losses on the sale of property, plant and equipment 0 2 Net finance income / costs -604 305 Provision for inventories 3 1 Receipt of government grants 150 0 Movements in provisions and government grants -98 0 Income tax expense 1 060 -263 Change in inventories -1 124 2 137 Change in trade and other receivables -208 243 Change in trade and other payables 1 192 -86 Interest paid -2 0 Income tax paid -145 -119 Net cash from operating activities 3 589 1 876 Cash flow from investing activities Interest received 4 5 Proceeds from disposal of property, plant and equipment 0 28 Acquisition of property, plant and equipment -78 -96 Acquisition of intangible assets -48 -50 Net cash flow from investing activities -122 -113 Cash flow from financing activities Acquisition of non-controlling interests 0 -26 Repayment from borrowings -800 0 Payment of principal portion of lease liabilities -530 -682 Interest paid on finance lease -114 -136 Net cash flow from financing activities -1 444 -844 Increase in cash and cash equivalents 2 023 919 Cash and cash equivalents at the beginning of period 8 980 5 152 Effect of exchange rate fluctuations on cash held 21 279 Cash and cash equivalents at the end of period 11 024 6 350 Jarek Särgava AS Silvano Fashion Group Member of the Board Phone: +372 6845 000 Email: [email protected]