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
Management interim statement or quarterly financial report
Unique data record identifier
9144
Attachments
Submission date and time
03.11.2021 10:00:00
Content of announcement in Estonian
Title
Silvano Fashion Group 2021.aasta III kvartali ja 9 kuu konsolideeritud vahearuanne (auditeerimata)
Message
Põhilised finantsnäitajad
Kontserni 2021. aasta 9 kuu (võrrelduna 2020. aasta 9 kuuga) ja 30.09.2021
(võrrelduna 31.12.2020) põhilised finantsnäitajad on järgmised:
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tuhandetes eurodes 9 kuud 2021 9 kuud 2020 Muutus
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Müügitulu 36 891 29 759 24,0%
Brutokasum 21 095 18 097 16,6%
Ärikasum 12 325 8 370 47,3%
EBITDA 14 744 11 042 33,5%
Aruandeperioodi puhaskasum 10 518 1 198 778,0%
Puhaskasum (kahjum),
emaettevõtte omanike osa 9 562 1 000 856,2%
Kasum aktsia kohta (eurodes) 0,27 0,03 800,0%
Äritegevuse rahavoog
perioodil 12 910 6 620 95,0%
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tuhandetes eurodes 30.09.2021 31.12.2020 Muutus
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Varad kokku 52 677 42 256 24,7%
Käibevarad kokku 39 897 29 597 34,8%
Omakapital kokku, emaettevõtte omanike osa 34 501 24 504 40,8%
Raha ja raha ekvivalendid 18 097 8 980 101,5%
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Rentaablusanalüüs, % 9 kuud 2021 9 kuud 2020 Muutus
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Brutokasum 57,2 60,8 -5,9%
Ärikasum 33,4 28,1 18,9%
EBITDA 40,0 37,1 7,8%
Puhaskasum (kahjum) 28,5 4,0 612,5%
Puhaskasum (kahjum), emaettevõtte omanike osa 25,9 3,4 661,8%
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Finantssuhtarvud, % 30.09.2021 31.12.2020 Muutus
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ROA 20,8 3,2 550,0%
ROE 34,1 5,6 508,9%
Hinna/ kasumi suhe 6,7 41,7 -83,9%
Lühiajaliste kohustuste kattekordaja 5,2 3,4 52,9%
Likviidsuskordaja 2,6 1,3 100,0%
Majandustulemused
Kontserni 2021. aasta 9 kuu käive moodustas 36 891 tuhat eurot, muutus eelmise
aasta sama perioodiga võrreldes on 24,0%. Hulgimüügi käive suurenes 29,8% võrra,
mõõdetuna eurodes.
Kontserni 2021. aasta 9 kuu brutokasum oli 21 095 tuhat eurot, suurenedes
eelmise aastaga võrreldes 16,6%. Perioodi brutokasumi marginaal vähenes 2021.
aasta 9 kuu jooksul 60,8%-lt 57,2%-le. Müüdud toodangu kulu suurenes 35,4%
võrra.
2021. aasta 9 kuu konsolideeritud ärikasum suurenes 47,3% ja ulatus 12 325
tuhande euroni võrreldes 2020. aasta 9 kuu konsolideeritud ärikasumiga summas
8 370 tuhat eurot. 2021. aasta 9 kuu ärikasumi rentaablus oli 33,4% võrreldes
28,1%-ga eelmise aasta samal perioodil. Konsolideeritud EBITDA suurenes 33,5% ja
moodustas 2021. aasta 9 kuuga 14 744 tuhat eurot, mis tähendab 40,0% rentaablust
(11 042 tuhat eurot ja 37 1% eelmise aasta samal perioodil).
Ettevõtte puhaskasum emaettevõtte aktsionäridele moodustas 2021. aasta 9 kuuga
9 562 tuhat eurot võrreldes puhaskasumiga 1 000 tuhat eurot 2020. aasta 9 kuuga,
puhaskasumi marginaal emaettevõtte aktsionäridele moodustas 2021. aasta 9 kuuga
25,9% võrreldes 3,4%-ga eelmise aasta samal perioodil.
Finantsseisund
Seisuga 30. september 2021 ulatus kontserni konsolideeritud varade maht 52 677
tuhande euroni, suurenedes 24,7% võrreldes 31. detsembriga 2020.
Võrreldes 31. detsembriga 2020 vähenesid nõuded ostjate vastu ja muud nõuded 48
tuhande euro võrra ja moodustasid 2021. aasta 30. septembri seisuga 2 040
tuhat eurot. Varude saldo suurenes 1 231 tuhande euro võrra ning
2021. aasta 30. septembri seisuga moodustas 19 758 tuhat eurot.
Emaettevõtte aktsionäride osa omakapitalis suurenes 9 997 tuhande euro võrra,
ulatudes 2021. aasta 30. septembri seisuga 34 501 tuhande euroni. Lühiajalised
kohustused vähenesid 2021.aasta 9 kuuga 1 048 tuhande euro võrra.
Investeeringud
Kontserni 2021. aasta 9 kuu investeeringute kogumaht materiaalsesse põhivarasse,
tehasesse ja seadmetesse moodustas 177 tuhat eurot, 191 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.septembri seisuga oli kontsernil 1 633 töötajat, neist 490 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 9 kuu palgakulu koos maksudega oli 7 158 tuhat eurot (7
407 tuhat eurot 2020.aasta 9 kuuga). Kontserni juhtkonna võtmeisikute töötasud,
sealhulgas tütarettevõtete võtmeisikute tasud, moodustasid kokku 443 tuhat
eurot.
Konsolideeritud finantsseisundi aruanne
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tuhandetes eurodes Lisad 30.09.2021 31.12.2020
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Auditeerimata Auditeeritud
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VARAD
Käibevara
Raha ja rahalähendid 2 18 097 8 980
Väljaantud laenud 2 2
Nõuded ostjate vastu ja muud
nõuded 3 2 040 2 088
Varud 4 19 758 18 527
Käibevara kokku 39 897 29 597
Põhivara
Pikaajalised nõuded 256 249
Investeeringud
sidusettevõtetesse 67 57
Investeeringud muudesse
osadesse ja aktsiatesse 258 238
Edasilükkunud tulumaksuvara 1 077 1 032
Immateriaalne põhivara 509 374
Kinnisvarainvesteeringud 1 079 1 018
Materiaalne põhivara 5 9 534 9 691
Põhivara kokku 12 780 12 659
VARAD KOKKU 52 677 42 256
KOHUSTUSED JA OMAKAPITAL
Lühiajalised kohustused
Lühiajalised laenukohustused 0 400
Lühiajalised rendikohustused 592 2 121
Võlad tarnijatele ja muud
võlad 6 5 624 5 583
Maksukohustised 1 515 675
Lühiajalised kohustused kokku 7 731 8 779
Pikaajalised kohustused
Edasilükkunud
tulumaksukohustis 605 500
Pikaajalised laenukohustutsed 0 400
Pikaajalised rendikohustused 5 979 4 707
Pikaajalised eraldised 57 52
Pikaajalised kohustused kokku 6 641 5 659
Kohustused kokku 14 372 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 -18 429 -18 864
Jaotamata kasum 43 057 33 140
Omakapital kokku, emaettevõtte
omanike osa 34 501 24 504
Vähemusosalus 3 804 3 314
Omakapital kokku 38 305 27 818
OMAKAPITAL JA KOHUSTUSED KOKKU 52 677 42 256
Konsolideeritud kasumiaruanne
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III kvartal III kvartal
tuhandetes eurodes Lisad 2021 2020 9 kuud 2021 9 kuud 2020
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Auditeerimata Auditeerimata Auditeerimata Auditeerimata
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Kliendilepingutest
saadav tulu 9 13 666 12 028 36 891 29 759
Müüdud toodangu
kulu -6 232 -4 506 -15 796 -11 662
Brutokasum 7 434 7 522 21 095 18 097
Turustuskulud -2 249 -2 161 -6 453 -6 608
Üldhalduskulud -875 -935 -2 663 -2 868
Muud äritulud 247 94 813 223
Muud ärikulud -173 -133 -467 -474
Ärikasum 4 384 4 387 12 325 8 370
Tulu/(kulu)
valuutakursi
muutustest 347 -3 830 1 407 -6 386
Muud
finantstu/(kulu) -100 -111 -316 -345
Finantstulud /(-
kulud) kokku 247 -3 941 1 091 -6 731
Kasum (kahjum)
sidusettevõtetest
kapitaliosaluse
meetodil 7 -3 6 -3
Kasum enne tulumaksu 4 638 443 13 422 1 636
Tulumaksukulu -816 -115 -2 904 -438
Aruandeperioodi
kasum 3 822 328 10 518 1 198
Sealhulgas:
Emaettevõte
omanike osa
kasumist 3 531 255 9 562 1 000
Vähemusosaluse
osa kasumist 291 73 956 198
Tava- ja
lahustatud kasum
emaettevõtte
omanike aktsia
kohta (eurodes) 8 0,10 0,01 0,27 0,03
Konsolideeritud
koondkasumiaruanne
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III kvartal III kvartal
tuhandetes eurodes Lisad 2021 2020 9 kuud 2021 9 kuud 2020
----------------------------------------------------------------------------------
Auditeerimata Auditeerimata Auditeerimata Auditeerimata
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Aruandeperioodi
kasum 3 822 328 10 518 1 198
Muu koondkasum
(kahjum), mida
võib hiljem
kasumiaruandesse
ümber
klassifitseerida:
Kursivahede mõju
välismaiste
äriüksuste
tulemuste
ümberarvestamisele 439 -690 708 -2 749
Aruandeperioodi
muu koondkasum 439 -690 708 -2 749
Perioodi
koondkasum
(kahjum) kokku 4 261 -362 11 226 -1 551
Sealhulgas:
Emaettevõtte
omanike osa
koondkasumist 4 004 -486 9 997 -2 138
Vähemusosaluse
osa koondkasumist 257 124 1 229 587
Konsolideeritud rahavoogude aruanne
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tuhandetes eurodes 9 kuud 9 kuud
2021 2020
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Auditeerimata Auditeerimata
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Rahavood äritegevusest
Perioodi kasum 10 518 1 198
Korrigeerimised:
Põhivara kulum 2 419 2 672
Kasum kapitaliosaluse meetodil kajastatud
investeeringutest -6 3
(Kasum)/kahjum materiaalse põhivara müügist 11 3
Finantstulud ja -kulud kokku -395 1 941
Ebatõenäoliselt laekuvate arvete eraldis 1 0
Varude eraldis 5 2
Laekumised sihtfinantseerimisest 550 0
Eraldiste ja sihtfinantseerimise muutus -550 0
Tulumaksukulu 2 904 438
Varude muutus -1 231 2 991
Muutused nõuetes ostjate vastu ja muudes nõuetes 32 769
Muutused võlgades tarnijatele ja muudes võlgades 330 -2 255
Tasutud intressid -2 0
Makstud tulumaks -1 676 -1 142
Rahavood äritegevusest kokku 12 910 6 620
Rahavood investeerimistegevusest
Saadud intressid 14 10
Materiaalse põhivara müük 60 34
Materiaalse põhivara soetamine -177 -191
Immateriaalse põhivara soetamine -121 -83
Rahavood investeerimistegevusest kokku -224 -230
Rahavood finantseerimistegevusest
Vähemusosaluste omandamine 0 -26
Saadud laenud 0 400
Saadud laenude tagasimaksed -800 0
Rendikohustiste põhiosamaksed -1 761 -1 619
Rendikohustistelt tasutud intress -326 -367
Väljamakstud dividendid -739 -424
Rahavood finantseerimistegevusest kokku -3 626 -2 036
Raha ja rahalähendite muutus 9 060 4 354
Raha ja rahalähendid perioodi alguses 8 980 5 152
Valuutakursside muutuste mõju rahavoogudele 57 350
Raha ja rahalähendid perioodi lõpus 18 097 9 856
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 Q3 and 9m of 2021 (unaudited)
Message
Selected Financial Indicators Summarized selected financial indicators of the Group for 9 months of 2021 compared to 9 months of 2020 and 30.09.2021 compared to 31.12.2020 were as follows: ------------------------------------------------------------------------------- in thousands of EUR 09m 2021 09m 2020 Change ------------------------------------------------------------------------------- Revenue 36 891 29 759 24.0% Gross Profit 21 095 18 097 16.6% Operating profit 12 325 8 370 47.3% EBITDA 14 744 11 042 33.5% Net profit for the period 10 518 1 198 778.0% Net profit attributable equity holders of the Parent company 9 562 1 000 856.2% Earnings per share (EUR) 0,27 0,03 800.0% Operating cash flow for the period 12 910 6 620 95.0% ------------------------------------------------------------------------------- in thousands of EUR 30.09.2021 31.12.2020 Change ------------------------------------------------------------------------------- Total assets 52 677 42 256 24.7% Total current assets 39 897 29 597 34.8% Total equity attributable to equity holders of the Parent company 34 501 24 504 40.8% Cash and cash equivalents 18 097 8 980 101.5% ------------------------------------------------------------------------------- Margin analysis, % 09m 2021 09m 2020 Change ------------------------------------------------------------------------------- Gross profit 57.2 60.8 -5.9% Operating profit 33.4 28.1 18.9% EBITDA 40.0 37.1 7.8% Net profit 28.5 4.0 612.5% Net profit attributable to equity holders of the Parent company 25.9 3.4 661.8% ------------------------------------------------------------------------------- Financial ratios, % 30.09.2021 31.12.2020 Change ------------------------------------------------------------------------------- ROA 20.8 3.2 550.0% ROE 34.1 5.6 508.9% Price to earnings ratio (P/E) 6.7 41.7 -83.9% Current ratio 5.2 3.4 52.9% Quick ratio 2.6 1.3 100.0% Financial performance The Group`s sales amounted to 36 891 thousand EUR during 9 months of 2021, representing a 24.0% increase as compared to the same period of previous year. Overall, wholesale increased by 29.8%, measured in EUR. The Group's gross profit during 9 months of 2021 amounted to 21 095 thousand EUR and increase by 16.6% compared to previous year. The gross margin during 9 months of 2021 decreased to 57.2%, from 60.8% in the respective period of previous year. The cost of sold goods increased by 35.4%. Consolidated operating profit for 9 months of 2021 amounted to 12 325 thousand EUR, compared to 8 370 thousand EUR in 9 months of 2020, increase by 47.3%. The consolidated operating profit margin was 33.4% for 9 months of 2021 (28.1% in 9 months of 2020). Consolidated EBITDA for 9 months of 2021 increased by 33.5% and amounted to 14 744 thousand EUR, which is 40.0% in margin terms (11 042 thousand EUR and 37.1% for 9 months of 2020). Reported consolidated net profit attributable to equity holders of the Parent company for 9 months of 2021 amounted to 9 562 thousand EUR, compared to net profit of 1 000 thousand EUR in 9 months of 2020, net profit margin attributable to equity holders of the Parent company for 9 months of 2021 was 25.9% against 3.4% in 9 months of 2020. Financial position As of 30 September 2021 consolidated assets amounted to 52 677 thousand EUR representing increase by 24.7% as compared to the position as of 31 December 2020. Trade and other receivables decreased by 48 thousand EUR as compared to 31 December 2020 and amounted to 2 040 thousand EUR as of 30 September 2021. Inventory balance increased by 1 231 thousand EUR and amounted to 19 758 thousand EUR as of 30 September 2021. Equity attributable to equity holders of the Parent company increased by 9 997 thousand EUR and amounted to 34 501 thousand EUR as of 30 September 2021. Current liabilities decreased by 1 048 thousand EUR during 9 months of 2021. Investments During 9 months of 2021 the Group's investments into property, plant and equipment totalled 177 thousand EUR, in previous year same period 191 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 September 2021, the Group employed 1 633 employees, including 490 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 9 months of 2021 amounted to 7 158 thousand EUR (7 407 thousand EUR in 9 months of 2020). The remuneration of key management of the Group, including the key executives of all subsidiaries, totalled 443 thousand EUR. Consolidated Statement of Financial Position ------------------------------------------------------------------------------- in thousands of EUR Note 30.09.2021 31.12.2020 ------------------------------------------------------------------------------- Unaudited Audited ------------------------------------------------------------------------------- ASSETS Current assets Cash and cash equivalents 2 18 097 8 980 Current loans granted 2 2 Trade and other receivables 3 2 040 2 088 Inventories 4 19 758 18 527 Total current assets 39 897 29 597 Non-current assets Long-term receivables 256 249 Investments in associates 67 57 Investments in other shares 258 238 Deferred tax asset 1 077 1 032 Intangible assets 509 374 Investment property 1 079 1 018 Property, plant and equipment 5 9 534 9 691 Total non-current assets 12 780 12 659 TOTAL ASSETS 52 677 42 256 LIABILITIES AND EQUITY Current liabilities Short-term borrowings 0 400 Short-term lease liabilities 592 2 121 Trade and other payables 6 5 624 5 583 Tax liabilities 1 515 675 Total current liabilities 7 731 8 779 Non-current liabilities Deferred tax liability 605 500 Long-term borrowings 0 400 Long-term lease liabilities 5 979 4 707 Long-term provisions 57 52 Total non-current liabilities 6 641 5 659 Total liabilities 14 372 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 -18 429 -18 864 Retained earnings 43 057 33 140 Total equity attributable to equity holders of the Parent company 34 501 24 504 Non-controlling interest 3 804 3 314 Total equity 38 305 27 818 TOTAL EQUITY AND LIABILITIES 52 677 42 256 Consolidated Income Statement ------------------------------------------------------------------------------- in thousands of EUR Note 3Q 2021 3Q 2020 09m 2021 09m 2020 ------------------------------------------------------------------------------- Unaudited Unaudited Unaudited Unaudited ------------------------------------------------------------------------------- Revenue from contracts with customers 9 13 666 12 028 36 891 29 759 Cost of goods sold -6 232 -4 506 -15 796 -11 662 Gross Profit 7 434 7 522 21 095 18 097 Distribution expenses -2 249 -2 161 -6 453 -6 608 Administrative expenses -875 -935 -2 663 -2 868 Other operating income 247 94 813 223 Other operating expenses -173 -133 -467 -474 Operating profit 4 384 4 387 12 325 8 370 Currency exchange income/(expense) 347 -3 830 1 407 -6 386 Other finance income/(expenses) -100 -111 -316 -345 Net finance income 247 -3 941 1 091 -6 731 Profit (loss) from associates using equity method 7 -3 6 -3 Profit before tax 4 638 443 13 422 1 636 Income tax expense -816 -115 -2 904 -438 Profit for the period 3 822 328 10 518 1 198 Attributable to : Equity holders of the Parent company 3 531 255 9 562 1 000 Non-controlling interest 291 73 956 198 Earnings per share from profit attributable to equity holders of the Parent company, both basic and diluted (EUR) 8 0,10 0,01 0,27 0,03 Consolidated Statement of Comprehensive Income ------------------------------------------------------------------------------- in thousands of EUR Note 3Q 2021 3Q 2020 09m 2021 09m 2020 ------------------------------------------------------------------------------- Unaudited Unaudited Unaudited Unaudited ------------------------------------------------------------------------------- Profit for the period 3 822 328 10 518 1 198 Other comprehensive income (loss) that will be reclassified to profit or loss in subsequent periods : Exchange differences on translation of foreign operations 439 -690 708 -2 749 Total other comprehensive income for the period 439 -690 708 -2 749 Total comprehensive income (loss) for the period 4 261 -362 11 226 -1 551 Attributable to : Equity holders of the Parent company 4 004 -486 9 997 -2 138 Non-controlling interest 257 124 1 229 587 Consolidated Statement of Cash Flows ------------------------------------------------------------------------------- in thousands of EUR Note 09m 2021 09m 2020 ------------------------------------------------------------------------------- Unaudited Unaudited ------------------------------------------------------------------------------- Cash flow from operating activities Profit for the period 10 518 1 198 Adjustments for: Depreciation and amortization of non-current assets 2 419 2 672 Share of profit of equity accounted investees -6 3 Gains/Losses on the sale of property, plant and equipment 11 3 Net finance income / costs -395 1 941 Provision for impairment losses on trade receivables 1 0 Provision for inventories 5 2 Receipt of government grants 550 0 Movements in provisions and government grants -550 0 Income tax expense 2 904 438 Change in inventories -1 231 2 991 Change in trade and other receivables 32 769 Change in trade and other payables 330 -2 255 Interest paid -2 0 Income tax paid -1 676 -1 142 Net cash flow from operating activities 12 910 6 620 Cash flow from investing activities Interest received 14 10 Proceeds from disposal of property, plant and equipment 60 34 Acquisition of property, plant and equipment -177 -191 Acquisition of intangible assets -121 -83 Net cash flow from investing activities -224 -230 Cash flow from financing activities Acquisition of non-controlling interests 0 -26 Proceeds from borrowings 0 400 Repayment of borrowings -800 0 Payment of principal portion of lease liabilities -1 761 -1 619 Interest paid on lease liabilities -326 -367 Dividends paid -739 -424 Net cash flow from financing activities -3 626 -2 036 Net increase in cash and cash equivalents 9 060 4 354 Cash and cash equivalents at the beginning of period 8 980 5 152 Effect of exchange rate fluctuations on cash held 57 350 Cash and cash equivalents at the end of period 18 097 9 856 Jarek Särgava AS Silvano Fashion Group Member of the Board Phone: +372 6845 000 Email: [email protected]