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
Half-yearly financial report
Unique data record identifier
8983
Attachments
Submission date and time
06.08.2021 17:00:00
Content of announcement in Estonian
Title
Silvano Fashion Group 2021.aasta II kvartali ja 6 kuu konsolideeritud vahearuanne (auditeerimata)
Message
Silvano Fashion Group 2021.aasta II kvartali ja 6 kuu konsolideeritud
vahearuanne (auditeerimata)
Põhilised finantsnäitajad
Kontserni 2021. aasta 6 kuu (võrrelduna 2020. aasta 6 kuuga) ja 30.06.2021
(võrrelduna 31.12.2020) põhilised finantsnäitajad on järgmised:
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tuhandetes eurodes 6 kuud 2021 6 kuud 2020 Muutus
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Müügitulu 23 225 17 731 31,0%
Brutokasum 13 661 10 575 29,2%
Ärikasum 7 941 3 983 99,4%
EBITDA 9 533 5 931 60,7%
Aruandeperioodi puhaskasum 6 696 870 669,7%
Puhaskasum (kahjum),
emaettevõtte omanike osa 6 031 745 709,5%
Kasum aktsia kohta (eurodes) 0,17 0,02 750,0%
Äritegevuse rahavoog
perioodil 8 055 2 742 193,8%
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tuhandetes eurodes 30.06.2021 31.12.2020 Muutus
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Varad kokku 49 446 42 256 17,0%
Käibevarad kokku 36 381 29 597 22,9%
Omakapital kokku, emaettevõtte omanike osa 30 497 24 504 24,5%
Raha ja raha ekvivalendid 14 022 8 980 56,1%
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Rentaablusanalüüs, % 6 kuud 2021 I6 kuud 2020 Muutus
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Brutokasum 58,8 59,6 -1,3%
Ärikasum 34,2 22,5 52,0%
EBITDA 41,0 33,4 22,8%
Puhaskasum (kahjum) 28,8 4,9 487,8%
Puhaskasum (kahjum), emaettevõtte omanike osa 26,0 4,2 519,0%
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Finantssuhtarvud, % 30.06.2021 31.12.2020 Muutus
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ROA 23,7 3,2 640,6%
ROE 40,2 5,6 617,9%
Hinna/ kasumi suhe 5,5 41,7 -86,8%
Lühiajaliste kohustuste kattekordaja 4,0 3,4 17,6%
Likviidsuskordaja 1,8 1,3 38,5%
Majandustulemused
Kontserni 2021. aasta 6 kuu käive moodustas 23 225 tuhat eurot, muutus eelmise
aasta sama perioodiga võrreldes on 31,0%. Hulgimüügi käive suurenes 40,1% võrra,
mõõdetuna eurodes.
Kontserni 2021. aasta 6 kuu brutokasum oli 13 661 tuhat eurot, suurenedes
eelmise aastaga võrreldes 29,2%. Perioodi brutokasumi marginaal vähenes 2021.
aasta 6 kuu jooksul 59,6%-lt 58,8%-le. Müüdud toodangu kulu suurenes 33,7%
võrra.
2021. aasta 6 kuu konsolideeritud ärikasum suurenes 99,4% ja ulatus 7 941
tuhande euroni võrreldes 2020. aasta 6 kuu konsolideeritud ärikasumiga summas
3 983 tuhat eurot. 2021. aasta 6 kuu ärikasumi rentaablus oli 34,2% võrreldes
22,5%-ga eelmise aasta samal perioodil. Konsolideeritud EBITDA suurenes 60,7% ja
moodustas 2021. aasta 6 kuuga 9 533 tuhat eurot, mis tähendab 41,0% rentaablust
(5 931 tuhat eurot ja 33,4% eelmise aasta samal perioodil).
Ettevõtte puhaskasum emaettevõtte aktsionäridele moodustas 2021. aasta 6 kuuga
6 031 tuhat eurot võrreldes puhaskasumiga 745 tuhat eurot 2020. aasta 6 kuuga,
puhaskasumi marginaal emaettevõtte aktsionäridele moodustas 2021. aasta 6 kuuga
26,0% võrreldes 4,2%-ga eelmise aasta samal perioodil.
Finantsseisund
Seisuga 30. juuni 2021 ulatus kontserni konsolideeritud varade maht 49 446
tuhande euroni, suurenedes 17,0% võrreldes 31. detsembriga 2020.
Võrreldes 31. detsembriga 2020 suurenesid nõuded ostjate vastu ja muud nõuded
273 tuhande euro võrra ja moodustasid 2021. aasta 30. juuni seisuga 2 361
tuhat eurot. Varude saldo suurenes 1 469 tuhande euro võrra ning
2021. aasta 30. juuni seisuga moodustas 19 996 tuhat eurot.
Emaettevõtte aktsionäride osa omakapitalis suurenes 5 993 tuhande euro võrra,
ulatudes 2021. aasta 30. juuni seisuga 30 497 tuhande euroni. Lühiajalised
kohustused suurenesid 2021.aasta 6 kuuga 255 tuhande euro võrra.
Investeeringud
Kontserni 2021. aasta 6 kuu investeeringute kogumaht materiaalsesse põhivarasse,
tehasesse ja seadmetesse moodustas 120 tuhat eurot, 133 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 30. juuni seisuga oli kontsernil 1 696 töötajat, neist 518 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 6 kuu palgakulu koos maksudega oli 4 745 tuhat eurot (5
008 tuhat eurot 2020.aasta 6 kuuga). Kontserni juhtkonna võtmeisikute töötasud,
sealhulgas tütarettevõtete võtmeisikute tasud, moodustasid kokku 293 tuhat
eurot.
Konsolideeritud finantsseisundi aruanne
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tuhandetes eurodes Lisad 30.06.2021 31.12.2020
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Auditeerimata Auditeeritud
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VARAD
Käibevara
Raha ja rahalähendid 2 14 022 8 980
Väljaantud laenud 2 2
Nõuded ostjate vastu ja muud
nõuded 3 2 361 2 088
Varud 4 19 996 18 527
Käibevara kokku 36 381 29 597
Põhivara
Pikaajalised nõuded 268 249
Investeeringud
sidusettevõtetesse 59 57
Investeeringud muudesse
osadesse ja aktsiatesse 250 238
Edasilükkunud tulumaksuvara 1 091 1 032
Immateriaalne põhivara 462 374
Kinnisvarainvesteeringud 1 053 1 018
Materiaalne põhivara 5 9 882 9 691
Põhivara kokku 13 065 12 659
VARAD KOKKU 49 446 42 256
KOHUSTUSED JA OMAKAPITAL
Lühiajalised kohustused
Lühiajalised laenukohustused 0 400
Lühiajalised rendikohustused 1 283 2 121
Võlad tarnijatele ja muud
võlad 6 5 815 5 583
Sihtfinantseerimine 56 0
Maksukohustised 1 880 675
Lühiajalised kohustused kokku 9 034 8 779
Pikaajalised kohustused
Edasilükkunud
tulumaksukohustis 584 500
Pikaajalised laenukohustutsed 0 400
Pikaajalised rendikohustused 5 707 4 707
Pikaajalised eraldised 55 52
Pikaajalised kohustused kokku 6 346 5 659
Kohustused kokku 15 380 14 438
Omakapital
Aktsiakapital 7 3 600 3 600
Ülekurss 4 967 4 967
Kohustuslik reservkapital 1 306 1 306
Ümberhindluse reserv 0 355
Realiseerimata kursivahed -18 547 -18 864
Jaotamata kasum 39 171 33 140
Omakapital kokku, emaettevõtte
omanike osa 30 497 24 504
Vähemusosalus 3 569 3 314
Omakapital kokku 34 066 27 818
OMAKAPITAL JA KOHUSTUSED KOKKU 49 446 42 256
Konsolideeritud kasumiaruanne
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II kvartal II kvartal
tuhandetes eurodes Lisad 2021 2020 6 kuud 2021 6 kuud 2020
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Auditeerimata Auditeerimata Auditeerimata Auditeerimata
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Kliendilepingutest
saadav tulu 9 12 960 6 185 23 225 17 731
Müüdud toodangu
kulu -5 541 -2 756 -9 564 -7 156
Brutokasum 7 419 3 429 13 661 10 575
Turustuskulud -2 094 -1 713 -4 204 -4 447
Üldhalduskulud -903 -811 -1 788 -1 933
Muud äritulud 385 70 566 129
Muud ärikulud -151 -144 -294 -341
Ärikasum 4 656 831 7 941 3 983
Tulu/(kulu)
valuutakursi
muutustest 605 2 174 1 060 -2 556
Muud
finantstu/(kulu) -106 -109 -216 -234
Finantstulud /(-
kulud) kokku 499 2 065 844 -2 790
Kasum (kahjum)
sidusettevõtetest
kapitaliosaluse
meetodil 5 0 -1 0
Kasum enne tulumaksu 5 160 2 896 8 784 1 193
Tulumaksukulu -1 028 -586 -2 088 -323
Aruandeperioodi
kasum 4 132 2 310 6 696 870
Sealhulgas:
Emaettevõte
omanike osa
kasumist 3 770 2 151 6 031 745
Vähemusosaluse
osa kasumist 362 159 665 125
Tava- ja
lahustatud kasum
emaettevõtte
omanike aktsia
kohta (eurodes) 8 0,10 0,06 0,17 0,02
Konsolideeritud
koondkasumiaruanne
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II kvartal II kvartal
tuhandetes eurodes Lisad 2021 2020 6 kuud 2021 6 kuud 2020
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Auditeerimata Auditeerimata Auditeerimata Auditeerimata
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Aruandeperioodi
kasum 4 132 2 310 6 696 870
Muu koondkasum,
mida võib hiljem
kasumiaruandesse
ümber
klassifitseerida:
Kursivahede mõju
välismaiste
äriüksuste
tulemuste
ümberarvestamisele 40 166 269 -2 059
Aruandeperioodi
muu koondkasum 40 166 269 -2 059
Perioodi
koondkasum
(kahjum) kokku 4 172 2 476 6 965 -1 189
Sealhulgas:
Emaettevõtte
omanike osa
koondkasumist 3 829 2 331 5 993 -1 652
Vähemusosaluse
osa koondkasumist 343 145 972 463
Konsolideeritud rahavoogude aruanne
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tuhandetes eurodes 6 kuud 6 kuud
2021 2020
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Auditeerimata Auditeerimata
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Rahavood äritegevusest
Perioodi kasum (kahjum) 6 696 870
Korrigeerimised:
Põhivara kulum 1 592 1 948
Kasum kapitaliosaluse meetodil kajastatud
investeeringutest 1 0
(Kasum)/kahjum materiaalse põhivara müügist 0 3
Finantstulud ja -kulud kokku -596 212
Varude eraldis 4 1
Laekumised sihtfinantseerimisest 450 0
Eraldiste ja sihtfinantseerimise muutus -394 0
Tulumaksukulu 2 088 323
Varude muutus -1 469 1 114
Muutused nõuetes ostjate vastu ja muudes nõuetes -289 219
Muutused võlgades tarnijatele ja muudes võlgades 639 -1 210
Tasutud intressid -2 0
Makstud tulumaks - 665 - 738
Rahavood äritegevusest kokku 8 055 2 742
Rahavood investeerimistegevusest
Saadud intressid 9 7
Materiaalse põhivara müük 18 28
Materiaalse põhivara soetamine -120 -133
Immateriaalse põhivara soetamine -82 -67
Rahavood investeerimistegevusest kokku -175 -165
Rahavood finantseerimistegevusest
Vähemusosaluste omandamine 0 -26
Saadud laenud 0 200
Saadud laenude tagasimaksed -800 0
Rendikohustiste põhiosamaksed -1 135 -1 006
Rendikohustisstelt tasutud intress -224 -255
Väljamakstud dividendid -717 -474
Rahavood finantseerimistegevusest kokku -2 876 -1 561
Raha ja rahalähendite muutus 5 004 1 016
Raha ja rahalähendid perioodi alguses 8 980 5 152
Valuutakursside muutuste mõju rahavoogudele 38 184
Raha ja rahalähendid perioodi lõpus 14 022 6 352
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 Q2 and 6m of 2021 (unaudited)
Message
Selected Financial Indicators Summarized selected financial indicators of the Group for 6 months of 2021 compared to 6 months of 2020 and 30.06.2021 compared to 31.12.2020 were as follows: ------------------------------------------------------------------------------- in thousands of EUR 06m 2021 06m 2020 Change ------------------------------------------------------------------------------- Revenue 23 225 17 731 31.0% Gross Profit 13 661 10 575 29.2% Operating profit 7 941 3 983 99.4% EBITDA 9 533 5 931 60.7% Net profit for the period 6 696 870 669.7% Net profit attributable equity holders of the Parent company 6 031 745 709.5% Earnings per share (EUR) 0,17 0,02 750.0% Operating cash flow for the period 8 055 2 742 193.8% ------------------------------------------------------------------------------- in thousands of EUR 30.06.2021 31.12.2020 Change ------------------------------------------------------------------------------- Total assets 49 446 42 256 17.0% Total current assets 36 381 29 597 22.9% Total equity attributable to equity holders of the Parent company 30 497 24 504 24.5% Cash and cash equivalents 14 022 8 980 56.1% ------------------------------------------------------------------------------- Margin analysis, % 06m 2021 06m 2020 Change ------------------------------------------------------------------------------- Gross profit 58.8 59.6 -1.3% Operating profit 34.2 22.5 52.0% EBITDA 41.0 33.4 22.8% Net profit 28.8 4.9 487.8% Net profit attributable to equity holders of the Parent company 26.0 4.2 519.0% ------------------------------------------------------------------------------- Financial ratios, % 30.06.2021 31.12.2020 Change ------------------------------------------------------------------------------- ROA 23.7 3.2 640.6% ROE 40.2 5.6 617.9% Price to earnings ratio (P/E) 5.5 41.7 -86.8% Current ratio 4.0 3.4 17.6% Quick ratio 1.8 1.3 38.5% Financial performance The Group`s sales amounted to 23 225 thousand EUR during 6 months of 2021, representing a 31.0% increase as compared to the same period of previous year. Overall, wholesale increased by 40.1%, measured in EUR. The Group's gross profit during 6 months of 2021 amounted to 13 661 thousand EUR and increase by 29.2% compared to previous year. The gross margin during 6 months of 2021 decreased to 58.8%, from 59.6% in the respective period of previous year. The cost of sold goods increased by 33.7%. Consolidated operating profit for 6 months of 2021 amounted to 7 941 thousand EUR, compared to 3 983 thousand EUR in 6 months of 2020, increase by 99.4%. The consolidated operating profit margin was 34.2% for 6 months of 2021 (22.5% in 6 months of 2020). Consolidated EBITDA for 6 months of 2021 increased by 60.7% and amounted to 9 533 thousand EUR, which is 41.0% in margin terms (5 931 thousand EUR and 33.4% for 6 months of 2020). Reported consolidated net profit attributable to equity holders of the Parent company for 6 months of 2021 amounted to 6 031 thousand EUR, compared to net profit of 745 thousand EUR in 6 months of 2020, net profit margin attributable to equity holders of the Parent company for 6 months of 2021 was 26.0% against 4.2% in 6 months of 2020. Financial position As of 30 June 2021 consolidated assets amounted to 49 446 thousand EUR representing increase by 17.0% as compared to the position as of 31 December 2020. Trade and other receivables increased by 273 thousand EUR as compared to 31 December 2020 and amounted to 2 361 thousand EUR as of 30 June 2021. Inventory balance increased by 1 469 thousand EUR and amounted to 19 996 thousand EUR as of 30 June 2021. Equity attributable to equity holders of the Parent company increased by 5 993 thousand EUR and amounted to 30 497 thousand EUR as of 30 June 2021. Current liabilities increased by 255 thousand EUR during 6 months of 2021. Investments During 6 months of 2021 the Group's investments into property, plant and equipment totalled 120 thousand EUR, in previous year same period 133 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 30 June 2021, the Group employed 1 696 employees, including 518 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 6 months of 2021 amounted to 4 745 thousand EUR (5 008 thousand EUR in 6 months of 2020). The remuneration of key management of the Group, including the key executives of all subsidiaries, totalled 293 thousand EUR. Consolidated Statement of Financial Position ------------------------------------------------------------------------------- in thousands of EUR Note 30.06.2021 31.12.2020 ------------------------------------------------------------------------------- Unaudited Audited ------------------------------------------------------------------------------- ASSETS Current assets Cash and cash equivalents 2 14 022 8 980 Current loans granted 2 2 Trade and other receivables 3 2 361 2 088 Inventories 4 19 996 18 527 Total current assets 36 381 29 597 Non-current assets Long-term receivables 268 249 Investments in associates 59 57 Investments in other shares 250 238 Deferred tax asset 1 091 1 032 Intangible assets 462 374 Investment property 1 053 1 018 Property, plant and equipment 5 9 882 9 691 Total non-current assets 13 065 12 659 TOTAL ASSETS 49 446 42 256 LIABILITIES AND EQUITY Current liabilities Short-term borrowings 0 400 Short-term lease liabilities 1 283 2 121 Trade and other payables 6 5 815 5 583 Goverment Grants 56 0 Tax liabilities 1 880 675 Total current liabilities 9 034 8 779 Non-current liabilities Deferred tax liability 584 500 Long-term borrowings 0 400 Long-term lease obligations 5 707 4 707 Long-term provisions 55 52 Total non-current liabilities 6 346 5 659 Total liabilities 15 380 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 0 355 Unrealised exchange rate differences -18 547 -18 864 Retained earnings 39 171 33 140 Total equity attributable to equity holders of the Parent company 30 497 24 504 Non-controlling interest 3 569 3 314 Total equity 34 066 27 818 TOTAL EQUITY AND LIABILITIES 49 446 42 256 Consolidated Income Statement ------------------------------------------------------------------------------- in thousands of EUR Note 2Q 2021 2Q 2020 06m 2021 06m 2020 ------------------------------------------------------------------------------- Unaudited Unaudited Unaudited Unaudited ------------------------------------------------------------------------------- Revenue from contracts with customers 9 12 960 6 185 23 225 17 731 Cost of goods sold -5 541 -2 756 -9 564 -7 156 Gross Profit 7 419 3 429 13 661 10 575 Distribution expenses -2 094 -1 713 -4 204 -4 447 Administrative expenses -903 -811 -1 788 -1 933 Other operating income 385 70 566 129 Other operating expenses -151 -144 -294 -341 Operating profit 4 656 831 7 941 3 983 Currency exchange income/(expense) 605 2 174 1 060 -2 556 Other finance income/(expenses) -106 -109 -216 -234 Net financial income 499 2 065 844 -2 790 Profit (loss) from associates using equity method 5 0 -1 0 Profit before tax 5 160 2 896 8 784 1 193 Income tax expense -1 028 -586 -2 088 -323 Profit for the period 4 132 2 310 6 696 870 Attributable to : Equity holders of the Parent company 3 770 2 151 6 031 745 Non-controlling interest 362 159 665 125 Earnings per share from profit attributable to equity holders of the Parent company, both basic and diluted (EUR) 8 0,10 0,06 0,17 0,02 Consolidated Statement of Comprehensive Income ------------------------------------------------------------------------------- in thousands of EUR Note 2Q 2021 2Q 2020 06m 2021 06m 2020 ------------------------------------------------------------------------------- Unaudited Unaudited Unaudited Unaudited ------------------------------------------------------------------------------- Profit for the period 4 132 2 310 6 696 870 Other comprehensive income (loss) that will be reclassified to profit or loss in subsequent periods : Exchange differences on translation of foreign operations 40 166 269 -2 059 Total other comprehensive income for the period 40 166 269 -2 059 Total comprehensive income (loss) for the period 4 172 2 476 6 965 -1 189 Attributable to : Equity holders of the Parent company 3 829 2 331 5 993 -1 652 Non-controlling interest 343 145 972 463 Consolidated Statement of Cash Flows ------------------------------------------------------------------------------- in thousands of EUR 06m 2021 06m 2020 ------------------------------------------------------------------------------- Unaudited Unaudited ------------------------------------------------------------------------------- Cash flow from operating activities Profit for the period 6 696 870 Adjustments for: Depreciation and amortization of non-current assets 1 592 1 948 Share of profit of equity accounted investees 1 0 (Gains)/ losses on the sale of property, plant and equipment 0 3 Net finance income / costs -596 212 Provision for inventories 4 1 Receipt of government grants 450 0 Movements in provisions and government grants -394 0 Income tax expense 2 088 323 Change in inventories -1 469 1 114 Change in trade and other receivables -289 219 Change in trade and other payables 639 -1 210 Interest paid -2 0 Income tax paid -665 -738 Net cash from operating activities 8 055 2 742 Cash flow from investing activities Interest received 9 7 Proceeds from disposal of property, plant and equipment 18 28 Acquisition of property, plant and equipment -120 -133 Acquisition of intangible assets -82 -67 Net cash flow from investing activities -175 -165 Cash flow from financing activities Acquisition of non-controlling interests 0 -26 Proceeds from borrowings 0 200 Repayment of borrowings -800 0 Payment of principal portion of lease liabilities -1 135 -1 006 Interest paid on finance lease -224 -255 Dividends paid -717 -474 Net cash flow from financing activities -2 876 -1 561 Increase in cash and cash equivalents 5 004 1 016 Cash and cash equivalents at the beginning of period 8 980 5 152 Effect of exchange rate fluctuations on cash held 38 184 Cash and cash equivalents at the end of period 14 022 6 352 Jarek Särgava AS Silvano Fashion Group Member of the Board Phone: +372 6845 000 Email: [email protected]