Market announcement
AS BALTIKA
LEI code
48510000I3W254YEMG75
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
9109
Attachments
Submission date and time
19.10.2021 09:00:00
Content of announcement in Estonian
Title
BALTIKA AUDITEERIMATA MAJANDUSTULEMUSED, KOLMAS KVARTAL JA 9 KUUD 2021
Message
Baltika Grupp lõpetas kolmanda kvartali 392 tuhande euro suuruse kahjumiga, mis
sisaldas 310 tuhande euro suuruseid ühekordseid kulusid seoses 8 poe sulgemisega
kolmandas kvartalis. Eelmise aasta sama perioodi kahjum oli 516 tuhat eurot.
Grupi kolmanda kvartali müügitulu oli 3 817 tuhat eurot, vähenedes 33% võrreldes
eelmise aasta sama perioodiga. Jaemüügi languse peamisteks põhjusteks oli 37
kahjumliku kaupluse sulgemine kogu Baltikumis ja ülemaailmsete tarneprobleemide
tõttu hilinemisega kauplustesse jõudnud kaubad, mis avaldasid negatiivset mõju
eriti augustis ja septembris.
E-kaubanduse müügitulu vähenes 2021. aasta kolmandas kvartalis 21%, st. 84
tuhande euro võrra, mis tulenes peamiselt müügi üleminekust jaekauplustele
seoses kõigi piirangute leevendamisega kolmandas kvartalis. Vaatamata ettevõtte
strateegilisele otsusele lõpetada Montoni ja Baltmani brändide müümine, näitab
e-kaubanduse 9 kuu tulemus võrreldes eelmise aasta sama perioodiga endiselt
tugevat müügikasvu 6% ja brutokasumi kasvu 22%.
Kvartali brutokasum oli 1 920 tuhat eurot, vähenedes 963 tuhande euro võrra
võrreldes eelmise aasta sama perioodiga (III kvartal 2020: 2 884 tuhat eurot),
mis on kooskõlas grupi portfellis hallatavate kaupluste arvu vähenemisega, mille
tulemusena on vähenenud ka müügitulu. Ettevõtte brutokasumi marginaal oli
kolmandas kvartalis 50,3%, mis on 0,6 protsendipunkti madalam kui eelmise aasta
kolmanda kvartali marginaal (III kvartal 2020: 50,9%). Brutokasumi marginaali
vähenemine on tingitud suuresti Baltmani brändi järelejäänud kaubavarude
allahindlusega müügist Baltika Grupi jaevõrgus ning eelkõige Eesti turul.
Grupi turustus- ja üldhalduskulud olid kolmandas kvartalis 2 590 tuhat eurot,
vähenedes eelmise aasta sama perioodiga võrreldes 16% ehk 498 tuhat eurot. Üle
60% kulude langusest on seotud jaemüügikulude vähendamisega, eelkõige
palgakulude vähenemisega 24% võrra võrreldes eelmise aasta sama perioodiga.
Esimese 9 kuu jooksul vähenes grupi müügitulu võrreldes eelmise aasta sama
perioodiga 41% ja ulatudes 9,156 tuhande euroni. Jaemüügi müügitulu vähenes
46%, samal ajal tõusis e-poe müügitulu aga 6%. Grupi 9 kuu tulemus oli kahjumis
ja seda eelkõige 9 kuu jooksul 26 kaupluse sulgemisest tingitud ühekordsete
kulude tõttu kui ka COVID-19 piirangute tõttu kõigis Balti riikides, mis on meie
äritegevust mõjutanud alates 1. jaanuarist 2021 kuni 2021. aasta mai lõpuni.
Kolmandas kvartalis omasid globaalsed tarneprobleemid samuti negatiivset mõju
meie turustuskanalitele (kauplused ja e-pood), mille tõttu ei jõudnud
sügishooaja kaubad esialgselt planeeritud ajal jaekaubandusvõrku ja e-poodi.
Baltika Grupi fookus oli kolmandas kvartalis 2021. aastal kogu kaupluste kulude
optimeerimine, sulgedes mittekasumlikud poed kogu Baltikumis ning hoides sellega
tegevuskulusid kontrolli all, samuti keskenduti peamiselt taaslansseeritava Ivo
Nikkolo kaubamärgile.
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
30.09.2021 31.12.2020
-------------------------------------------------------------------------------
VARA
Käibevara
Raha ja raha ekvivalendid 773 1 427
Nõuded ostjatele ja muud nõuded 190 318
Varud 2 954 3 467
Käibevara kokku 3 917 5 212
Põhivara
Edasilükkunud tulumaksuvara 140 140
Muu pikaajaline vara 149 111
Materiaalne põhivara 919 1 218
Vara kasutusõigus 6 484 9 199
Immateriaalne põhivara 572 597
Põhivara kokku 8 264 11 255
VARA KOKKU 12 181 16 477
KOHUSTUSED JA OMAKAPITAL
Lühiajalised kohustused
Võlakohustused 358 252
Rendikohustis 1 955 3 127
Võlad hankijatele ja muud kohustused 3 083 3 019
Lühiajalised kohustused kokku 5 396 6 398
Pikaajalised kohustused
Võlakohustused 1 259 874
Rendikohustis 4 824 6 493
Pikaajalised kohustused kokku 6 083 7 367
KOHUSTUSED KOKKU 11 479 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) -2 010 - 377
OMAKAPITAL KOKKU 702 2 712
KOHUSTUSED JA OMAKAPITAL KOKKU 12 181 16 477
KONSOLIDEERITUD KASUMI- JA KOONDKASUMIARUANNE
3 kv 2021 3 kv 2020 9k 2021 9k 2020
-------------------------------------------------------------------------------
Müügitulu 3 817 5 658 9 156 15 502
Müüdud kaupade kulu -1 896 -2 774 -4 707 -8 048
Brutokasum 1 921 2 884 4 449 7 454
Turustuskulud -2 287 -2 806 -3 837 -7 006
Üldhalduskulud -303 -718 -835 -1 510
Muud äritulud (-kulud) 369 5,841 685 5 878
Ärikasum (-kahjum) -300 4 139 -1 459 1 931
Finantskulud -92 -194 -251 -635
Kasum (-kahjum) enne maksustamist -392 -516 -2 010 975
Tulumaks 0 0 0 0
Aruandeperioodi puhaskasum (-kahjum) -392 -516 -2 010 975
Aruandeperioodi koondkasum (-kahjum) -392 -516 -2 010 975
Tava puhaskahjum aktsia kohta, EUR
aruandeperioodi puhaskahjumist -0,01 -0,01 -0,04 0,02
Lahustatud puhaskahjum aktsia kohta, EUR
aruandeperioodi puhaskahjumist -0,01 -0,01 -0,04 0,02
Flavio Perini
Juhatuse esimees, tegevjuht
[email protected]
(https://www.globenewswire.com/Tracker?data=FjzKJuqoZ8aAIvPpEVpSR7RJPQxjYY16iGsJ
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Content of announcement in English
Title
Baltika’s Unaudited Financial Results, Third Quarter and 9 Months of 2021
Message
Baltika Group ended the third quarter with a net loss of 392 thousand euros, which included one-off costs of 310 thousand euros mostly due to 8 store closures done during Q3 2021. The loss for the same period last year was 516 thousand euros. The Group's sales revenue for the third quarter was 3,817 thousand euros, decreasing by 33% compared to the same period last year. The main reasons for the decrease in retail sales were represented by the closures of 37 unprofitable stores done in the meantime all over the Baltics as well as a delay in the arrival of goods in stores due to global supply problems, which had a negative impact on our sales results, particularly during August and September. E-com sales revenue in the third quarter of 2021 decreased by 21% for approximately 84 thousand euro, mostly driven by the logical shift towards off- line stores due to the easing of all restrictions during the third quarter. However, the 9-month results still show strong sales growth of 6% and 22% increase in gross profit compared to the same period last year, despite the company's strategic decision to discontinue the Monton and Baltman brands. The gross profit for the quarter was 1,920 thousand euros, decreasing by 963 thousand euros compared to the same period of the previous year (Q3 2020: 2,884 thousand euros) in line with the sales decrease as a logical consequence of a lower number of stores managed in our Group portfolio. The company's gross profit margin was 50,3% in the third quarter, which is 0,6 percentage points lower than the margin of the third quarter of the previous year (Q3 2020: 50,9%). The decrease in gross profit is mostly due to the sale of residual Baltman stock in our existing stores all over the Baltics and in particular in the Estonian market. The Group's distribution and administrative expenses in the third quarter were 2,590 thousand euros, decreasing by 16% i.e., 498 thousand euros compared to the same period last year. More than 60% of the decrease in expense was related to cost reductions in a retail business, in particular with decrease in payroll costs by 24% compared to the same period last year. In the first 9 months of the year, the group's revenue decreased by 41% compared to the same period last year to 9,156 thousand euros. Retail sales revenue decreased by 46%, while e-store sales revenue increased by 6%. The Group's 9- month result shows a loss, mainly caused by a negative impact of one cost due to 26 store closures executed during the last 9 months and also by COVID-19 restrictions in all Baltic countries which have affected our business already from 1 January 2021 until the end of May 2021. During the third quarter, our Omnichannel (on-line and off-line stores) has been affected also by well known global supply issues, which meant that seasonal autumn goods did not reach our retail network and e-store on time as originally planned. Baltika Group's focus during the third quarter of 2021 was to optimize even further the whole store network with some important unprofitable store closures across the Baltics and to keep under strict control all operating expenses as well as on the renewed Ivo Nikkolo brand launch. CONSOLIDATED STATEMENT OF FINANCIAL POSITION Note 30 Sept 2021 31 Dec 2020 ------------------------------------------------------------------------------- ASSETS Current assets Cash and cash equivalents 3 773 1,427 Trade and other receivables 4 190 318 Inventories 5 2,954 3,467 Total current assets 3,917 5,212 Non-current assets Deferred income tax asset 140 140 Other non-current assets 4 149 111 Property, plant and equipment 6 919 1,218 Right-of-use assets 8 6,484 9,199 Intangible assets 7 572 597 Total non-current assets 8,264 11,255 TOTAL ASSETS 12,181 16,477 LIABILITIES AND EQUITY Current liabilities Borrowings 9 358 252 Lease liabilities 8 1,955 3,127 Trade and other payables 10,11 3,083 3,019 Total current liabilities 5,396 6,398 Non-current liabilities Borrowings 9 1,259 874 Lease liabilities 8 4,824 6,493 Total non-current liabilities 6,083 7,367 TOTAL LIABILITIES 11,479 13,765 EQUITY Share capital at par value 12 5,408 5,408 Reserves 12 3,931 3,931 Retained earnings -6,627 -6,250 Net profit (loss) for the period -2,010 - 377 TOTAL EQUITY 702 2,712 TOTAL LIABILITIES AND EQUITY 12,181 16,477 CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND COMPREHENSIVE INCOME Note 3Q 2021 3Q 2020 9m 2021 9m 2020 ------------------------------------------------------------------------------- Revenue 13,14 3,817 5,658 9,156 15,502 Cost of goods sold 15 -1,896 -2,774 -4,707 -8,048 Gross profit 1,921 2,884 4,449 7,454 Distribution costs 16 -2,287 -2,806 -3,837 -7,006 Administrative and general expenses 17 -303 -718 -835 -1,510 Other operating income (-expense) 18 369 5,841 685 5,878 Operating profit (loss) -300 4,139 -1,459 1,931 Finance costs 19 -92 -194 -251 -635 Profit (loss) before income tax -392 -516 -2,010 975 Income tax expense 0 0 0 0 Net profit (loss) for the period -392 -516 -2,010 975 Total comprehensive income (loss) for the period -392 -516 -2,010 975 Basic earnings per share from net profit (loss) for the period, EUR 20 -0.01 -0.01 -0.04 0.02 Diluted earnings per share from net profit (loss) for the period, EUR 20 -0.01 -0.01 -0.04 0.02 Flavio Perini Chairman of Management Board, CEO [email protected] (https://www.globenewswire.com/Tracker?data=kFHNBackukURPkBgqkS4_rE3af1hnX2WFHbG 2wSR7vUxnJNNRHOWQAi9OIFKOeGU6s1b1ExNNPSWUeCwF6zC8DKwnyXrybbeLrWnrHmC6Ex_WNr6PO5H fTM0arK691F9)