Market announcement
AS BALTIKA
LEI code
48510000I3W254YEMG75
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
8941
Attachments
Submission date and time
15.07.2021 09:00:00
Content of announcement in Estonian
Title
BALTIKA AUDITEERIMATA MAJANDUSTULEMUSED, TEINE KVARTAL JA 6 KUUD 2021
Message
Baltika Grupp lõpetas teise kvartali 37 tuhande euro suuruse puhaskasumiga.
Eelmise aasta sama perioodi kasum oli 3 965 tuhat eurot, kuid see sisaldas
ühekordset saneerimise mõju summas 5 905 tuhat eurot. Seega tähendab tulemus
1 977 tuhande euro suurust paranemist võrreldes eelmise aasta tavapärase
äritulemusega.
Grupi teise kvartali müügitulu oli 3 207 tuhat eurot, vähenedes 13% võrreldes
eelmise aasta sama perioodiga. Jaemüügi vähenemise peamiseks põhjuseks oli 33
kahjumliku kaupluse sulgemine kogu Baltikumis ning COVID-19 teise laine tõttu
kehtestatud piirangud, mis kehtisid peamiselt aprillis ja mais.
Teises kvartalis leevendati COVID-19 piiranguid. Eesti kauplused olid täielikult
avatud alates 3. maist, Leedu kauplused alates 29. maist ja Läti kauplused 3.
juunist 2021. E-kaubanduse müügitulu vähenes 2021. aasta teises kvartalis 41%,
st. 270 tuhande euro võrra, mis tulenes peamiselt üleminekust tavapoodide suunas
seoses piirangute leevendamisega teise kvartali teises pooles. Seega näitavad
tulemused aasta lõikes endiselt väga tugevat müügitulemust (+16%) ja
brutokasumit (+32%) vaatamata ettevõtte strateegilisele otsusele lõpetada
Montoni ja Baltmani kaubamärkide müük.
Kvartali brutokasum oli 1 656 tuhat eurot, vähenedes 166 tuhande euro võrra
võrreldes eelmise aasta sama perioodiga (II kvartal 2020: 1 822 tuhat eurot),
mis on kooskõlas müügimahu vähenemisega. Ettevõtte brutokasumi marginaal oli
teises kvartalis 51,6%, mis on 2,4 protsendipunkti kõrgem kui eelmise aasta
teise kvartali marginaal (II kvartal 2020: 49,2%). Brutokasumi marginaali kasv
on tingitud Grupi strateegilisest otsusest keskenduda täishinnaga müügile ja
anda vähem allahindlusi, et vastata enam uue kliendisegmendi ootustele.
Grupi turustus- ja üldhalduskulud olid teises kvartalis 2 036 tuhat eurot,
vähenedes eelmise aasta sama perioodiga võrreldes 42% ehk 1 489 tuhat eurot. Üle
60% kulude langusest on seotud jaemüügikulude vähendamisega. Peakontori
turustus- ja üldhalduskulud vähenesid eelmise aasta sama perioodiga võrreldes
veel 310 tuhat eurot, kuna peamised muudatused peakontoris toimusid pärast
2020. aasta teist kvartalit.
Esimesel poolaastal vähenes grupi müügitulu võrreldes eelmise aasta sama
perioodiga 46% ja ulatus 5 339 tuhande euroni. Jaemüügi müügitulu vähenes 54%,
samas kui e-poe müügitulu kasvas 16%. Grupp lõpetas poolaasta 1 618 tuhande euro
suuruse puhaskahjumiga. Esimese poolaasta kahjum on tingitud kõigist COVID-19
piirangutest Balti riikides alates 1.jaanuarist 2021, lisaks sellele, et aasta
nõrgim kvartal jaekaubanduses on alati esimene kvartal. Seetõttu kõigist COVID-
19 tingitud raskustest, mis mõjutasid tugevalt kogu Balti jaemüügiäri, on grupp
näidanud tugevat ja vastupidavat uut ärimudelit ning oli teises kvartalis juba
kasumlik.
Teine kvartal 2021. aastal näitas Baltika Grupi tegevuse ümberkorraldamist ja
loodetavasti ka COVID-19 piirangute lõppu. Baltika Grupi fookus teises kvartalis
2021. aastal oli kogu kaupluste kulude optimeerimine, sulgedes mittekasumlikud
poed kogu Baltikumis ning hoides sellega tegevuskulusid kontrolli all. Sellega
seoses lõpetati lao rendileping ning sõlmiti leping professionaalse laoteenuse
pakkujaga, mis toob kulude kokkuhoiu vastavalt mahtudele.
Kvartal lõppes kasumiga ja on tugevas finantsseisundis ning seega võib alata
järgmine periood, mil keskendutakse peamiselt taaslansseeritava Ivo Nikkolo
kaubamärgile.
Konsolideeritud finantsseisundi aruanne
30.06.2021 31.12.2020
-------------------------------------------------------------------------------
VARA
Käibevara
Raha ja raha ekvivalendid 772 1 427
Nõuded ostjatele ja muud nõuded 155 318
Varud 3 126 3 467
Käibevara kokku 4 053 5 212
Põhivara
Edasilükkunud tulumaksuvara 140 140
Muu pikaajaline vara 143 111
Materiaalne põhivara 968 1 218
Vara kasutusõigus 6 795 9 199
Immateriaalne põhivara 590 597
Põhivara kokku 8 626 11 255
VARA KOKKU 12 679 16 477
KOHUSTUSED JA OMAKAPITAL
Lühiajalised kohustused
Võlakohustused 377 252
Rendikohustis 2 460 3 127
Võlad hankijatele ja muud kohustused 2 775 3 019
Lühiajalised kohustused kokku 5 612 6 398
Pikaajalised kohustused
Võlakohustused 1 356 874
Rendikohustis 4 617 6 493
Pikaajalised kohustused kokku 5 973 7 367
KOHUSTUSED KOKKU 11 585 13 765
OMAKAPITAL
Aktsiakapital nimiväärtuses 5 408 5 408
Reservid 3 931 3 931
Eelmiste perioodide jaotamata kasum
(-kahjum) -6 627 -6 250
Aruandeperioodi puhaskasum (-kahjum) -1 618 - 377
OMAKAPITAL KOKKU 1 094 2 712
KOHUSTUSED JA OMAKAPITAL KOKKU 12 679 16 477
Konsolideeritud kasumi- ja koondkasumiaruanne
2 kv 2021 2 kv 2020 6k 2021 6k 2020
-------------------------------------------------------------------------------
Müügitulu 3 208 3 707 5 339 9 844
Müüdud kaupade kulu -1 552 -1 885 -2 811 -5 275
Brutokasum 1 656 1 822 2 528 4 569
Turustuskulud -1 696 -2 806 -3 837 -7 006
Üldhalduskulud -340 -718 -835 -1,510
Muud äritulud (-kulud) 451 5 841 685 5 878
Ärikasum (-kahjum) 71 4 139 -1 459 1 931
Finantskulud -34 -174 -159 -440
Kasum (-kahjum) enne maksustamist 37 3 965 -1 618 1 491
Tulumaks 0 0 0 0
Aruandeperioodi puhaskasum (-kahjum) 37 3 965 -1 618 1 491
Aruandeperioodi koondkasum (-kahjum) 37 3 965 -1 618 1 491
Tava puhaskahjum aktsia kohta, EUR
aruandeperioodi puhaskahjumist 0,00 0,07 -0,03 0,03
Lahustatud puhaskahjum aktsia kohta, EUR
aruandeperioodi puhaskahjumist 0,00 0,07 -0,03 0,03
Flavio Perini
Juhatuse esimees, tegevjuht
[email protected]
(https://www.globenewswire.com/Tracker?data=kFHNBackukURPkBgqkS4_rE3af1hnX2WFHbG
2wSR7vXFUqEGOGGmSPRDlIc9WjOAQqDFB7RSMzEQ85ZBuY29C0Tl8qAe5KVOTI4aqe67wM2z8cL_dSg7
ztp8hQ67cVvb)
Content of announcement in English
Title
Baltika’s Unaudited Financial Results, Second Quarter and 12 Months of 2021
Message
Baltika Group ended the second quarter with a net profit of 37 thousand euros. The profit for the same period last year was 3,965 thousand euros but this included one-off reorganisation impact in the amount 5 905 thousand euros. Therefore the result signifies an improvement of 1,977 thousand euros compared to last year's regular business result. The Group's sales revenue for the second quarter was 3,207 thousand euros, decreasing by 13% compared to the same period last year. The main reasons for the decrease in retail sales were represented by the closures of 33 unprofitable stores all over the Baltics as well as by the negative impact of the second wave of COVID-19 with all restrictions in place, particularly and mostly during April and May. The precisely second wave of COVID-19 restrictions was eased in the second quarter as Estonian stores were fully open from 3(rd) May, Lithuanian from 29(th) May, and Latvian stores from 3(rd) June 2021. E-com sales revenue in second quarter 2021 decreased by 41% for approximately 270 thousand euro, mostly driven by the logical shift towards off-line stores due to the easing of all restrictions during 2(nd) half of second quarter. However, results on year to date are still showing a very strong performance +16% in sales and +32% in gross profit, despite the Company's strategic decision of discontinuing with Monton and Baltman brands. The gross profit for the quarter was 1,656 thousand euros, decreasing by 166 thousand euros compared to the same period of the previous year (Q2 2020: 1,822 thousand euros) in line with the sales decrease. The company's gross profit margin was 51.6% in the second quarter, which is 2.4 percentage points higher than the margin of the second quarter of the previous year (Q2 2020: 49.2%). The increase in gross profit margin is a consequence of the Group's strategic decision to be more focused on full price sales with a full review of the whole product offer (clothes and accessories) to be more aligned with new customer needs. The Group's distribution and administrative expenses in the second quarter were 2,036 thousand euros, decreasing by 42% i.e., 1,489 thousand euros compared to the same period last year. Over 60% of the decrease in expense relates to a reduction in a retail business. The head-office distribution and administrative expense decreased a further 310 thousand euros compared to the same period last year as main changes in head-office took place after second quarter 2020. In the first half of the year, the Group's sales revenue decreased by 46% compared to the same period last year and amounted to 5,339 thousand euros. Retail sales decreased by 54%, while sales revenue of the e-store increased by 16%. The Group ended the half-year with a net loss of 1,618 thousand euros. The comparable result of the previous year was a net profit of 1,491 thousand euros, including the one-off positive impact of the reorganisation process of 5,905 thousand euro. Group half year performance was a loss mostly driven and caused by all COVID-19 restrictions in all Baltic countries already in place from 1(st) of January 2021 and also due to the fact that first quarter has always been relatively weak in a retail business. Despite all difficulties due to COVID-19 restrictions which have heavily affected the whole Baltic retail business during the second quarter, the Group has shown a very strong and resilient new business model capable to deliver a profit already by the end of second quarter. Second quarter of 2021 marks the end of Baltika Group´s operational turnaround and hopefully also of COVID-19 restrictions. Balika Group's focus during the second quarter of 2021 was the one to optimise even further the whole store network with some important unprofitable store closures across the Baltics and to keep under strict control all operating expenses. Meanwhile new contract for a professional warehouse service provider correlating to volumes has been signed during April 2021 and this will give the chance to Baltika Group to get a more flexible and effective logistic cost structure in line with Group's buying volumes. The quarter was finished with a profit and in a strong financial position to go forward to the next period when all the focus will be mostly on the new Ivo Nikkolo brand launch. Consolidated statement of financial position 30 June 2021 31 Dec 2020 -------------------------------------------------------------------------- ASSETS Current assets Cash and cash equivalents 772 1,427 Trade and other receivables 155 318 Inventories 3,126 3,467 Total current assets 4,053 5,212 Non-current assets Deferred income tax asset 140 140 Other non-current assets 143 111 Property, plant and equipment 968 1,218 Right-of-use assets 6,795 9,199 Intangible assets 590 597 Total non-current assets 8,626 11,255 TOTAL ASSETS 12,679 16,477 LIABILITIES AND EQUITY Current liabilities Borrowings 377 252 Lease liabilities 2,460 3,127 Trade and other payables 2,775 3,019 Total current liabilities 5,612 6,398 Non-current liabilities Borrowings 1,356 874 Lease liabilities 4,617 6,493 Total non-current liabilities 5,973 7,367 TOTAL LIABILITIES 11,585 13,765 EQUITY Share capital at par value 5,408 5,408 Reserves 3,931 3,931 Retained earnings -6,627 -6,250 Net profit (loss) for the period -1,618 - 377 TOTAL EQUITY 1,094 2,712 TOTAL LIABILITIES AND EQUITY 12,679 16,477 Consolidated statement of profit and loss and comprehensive income 2Q 2021 2Q 2020 6m 2021 6m 2020 ------------------------------------------------------------------------------- Revenue 3,208 3,707 5,339 9,844 Cost of goods sold -1,552 -1,885 -2,811 -5,275 Gross profit 1,656 1,822 2,528 4,569 Distribution costs -1,696 -2,806 -3,837 -7,006 Administrative and general expenses -340 -718 -835 -1,510 Other operating income (-expense) 451 5,841 685 5,878 Operating profit (loss) 71 4,139 -1,459 1,931 Finance costs -34 -174 -159 -440 Profit (loss) before income tax 37 3,965 -1,618 1,491 Income tax expense 0 0 0 0 Net profit (loss) for the period 37 3,965 -1,618 1,491 Total comprehensive income (loss) for the period 37 3,965 -1,618 1,491 Basic earnings per share from net profit (loss) for the period, EUR 0,00 0,07 -0,03 0,03 Diluted earnings per share from net profit (loss) for the period, EUR 0,00 0,07 -0,03 0,03 Flavio Perini Chairman of Management Board, CEO [email protected] (https://www.globenewswire.com/Tracker?data=kFHNBackukURPkBgqkS4_rE3af1hnX2WFHbG 2wSR7vUxnJNNRHOWQAi9OIFKOeGU6s1b1ExNNPSWUeCwF6zC8DKwnyXrybbeLrWnrHmC6Ex_WNr6PO5H fTM0arK691F9)