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
9361
Attachments
Submission date and time
27.02.2022 23:59:00
Content of announcement in Estonian
Title
Silvano Fashion Group 2021.aasta IV kvartali ja 12 kuu konsolideeritud vahearuanne (auditeerimata)
Message
Põhilised finantsnäitajad
Kontserni 2021. aasta 12 kuu (võrrelduna 2020. aasta 12 kuuga) ja 31.12.2021
(võrrelduna 31.12.2020) põhilised finantsnäitajad on järgmised:
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tuhandetes eurodes 12 kuud 2021 12 kuud 2020 Muutus
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Müügitulu 46 686 38 479 21,3%
Brutokasum 25 410 23 209 9,5%
Ärikasum 13 005 10 544 23,3%
EBITDA 16 242 14 111 15,1%
Aruandeperioodi puhaskasum 9 924 1 667 495,3%
Puhaskasum, emaettevõtte
omanike osa 9 031 1 347 570,5%
Kasum aktsia kohta (eurodes) 0,25 0,04 525,0%
Äritegevuse rahavoog
perioodil 12 996 6 356 104,5%
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tuhandetes eurodes 31.12.2021 31.12.2020 Muutus
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Varad kokku 53 753 42 256 27,2%
Käibevarad kokku 40 331 29 597 36,3%
Omakapital kokku, emaettevõtte omanike osa 34 148 24 504 39,4%
Raha ja raha ekvivalendid 17 098 8 980 90,4%
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Rentaablusanalüüs, % 12 kuud 2021 12 kuud 2020 Muutus
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Brutokasum 54,4 60,3 -9,8%
Ärikasum 27,9 27,4 1,8%
EBITDA 34,8 36,7 -5,2%
Puhaskasum 21,3 4,3 395,3%
Puhaskasum, emaettevõtte omanike osa 19,3 3,5 451,4%
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Finantssuhtarvud, % 31.12.2021 31.12.2020 Muutus
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ROA 17,9 3,2 459,4%
ROE 28,7 5,6 412,5%
Hinna/ kasumi suhe 7,8 41,7 -81,3%
Lühiajaliste kohustuste kattekordaja 4,3 3,4 26,5%
Likviidsuskordaja 2,1 1,3 61,5%
Majandustulemused
Kontserni 2021. aasta 12 kuu käive moodustas 46 686 tuhat eurot, muutus eelmise
aasta sama perioodiga võrreldes on 21,3%. Hulgimüügi käive suurenes 24,5% võrra,
mõõdetuna eurodes.
Kontserni 2021. aasta 12 kuu brutokasum oli 25 410 tuhat eurot, suurenedes
eelmise aastaga võrreldes 9,5%. Perioodi brutokasumi marginaal vähenes 2021.
aasta 12 kuu jooksul 60,3%-lt 54,4%-le. Müüdud toodangu kulu suurenes 39,3%
võrra.
2021. aasta 12 kuu konsolideeritud ärikasum suurenes 23,3% ja ulatus 13 005
tuhande euroni võrreldes 2020. aasta 12 kuu konsolideeritud ärikasumiga summas
10 544 tuhat eurot. 2021. aasta 12 kuu ärikasumi rentaablus oli 27,9% võrreldes
27,4%-ga eelmise aasta samal perioodil. Konsolideeritud EBITDA suurenes 15,1% ja
moodustas 2021. aasta 12 kuuga 16 242 tuhat eurot, mis tähendab 34,8%
rentaablust (14 111 tuhat eurot ja 36,7% eelmise aasta samal perioodil).
Ettevõtte puhaskasum emaettevõtte aktsionäridele moodustas 2021. aasta 12 kuuga
9 031 tuhat eurot võrreldes puhaskasumiga 1 347 tuhat eurot 2020. aasta 12
kuuga, puhaskasumi marginaal emaettevõtte aktsionäridele moodustas 2021. aasta
12 kuuga 19,3% võrreldes 3,5%-ga eelmise aasta samal perioodil.
Finantsseisund
Seisuga 31. detsember 2021 ulatus kontserni konsolideeritud varade maht 53 753
tuhande euroni, suurenedes 27,2% võrreldes 31. detsembriga 2020.
Võrreldes 31. detsembriga 2020 suurenesid nõuded ostjate vastu ja muud nõuded
237 tuhande euro võrra ja moodustasid 2021. aasta 31. detsembri seisuga 2 325
tuhat eurot. Varude saldo suurenes 2 379 tuhande euro võrra ning
2021. aasta 31. detsembri seisuga moodustas 20 906 tuhat eurot.
Emaettevõtte aktsionäride osa omakapitalis suurenes 9 644 tuhande euro võrra,
ulatudes 2021. aasta 31.detsembri seisuga 34 148 tuhande euroni. Lühiajalised
kohustused suurenesid 2021.aasta 12 kuuga 589 tuhande euro võrra.
Investeeringud
Kontserni 2021. aasta 12 kuu investeeringute kogumaht materiaalsesse
põhivarasse, tehasesse ja seadmetesse moodustas 312 tuhat eurot, 289 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.detsembri seisuga oli kontsernil 1 602 töötajat, neist 485 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 12 kuu palgakulu koos maksudega oli 9 388 tuhat eurot (9
854 tuhat eurot 2020.aasta 12 kuuga). Kontserni juhtkonna võtmeisikute töötasud,
sealhulgas tütarettevõtete võtmeisikute tasud, moodustasid kokku 598 tuhat
eurot.
Konsolideeritud finantsseisundi aruanne
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tuhandetes eurodes Lisad 31.12.2021 31.12.2020
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Auditeerimata Auditeeritud
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VARAD
Käibevara
Raha ja rahalähendid 2 17 098 8 980
Väljaantud laenud 2 2
Nõuded ostjate vastu ja muud
nõuded 3 2 325 2 088
Varud 4 20 906 18 527
Käibevara kokku 40 331 29 597
Põhivara
Pikaajalised nõuded 262 249
Investeeringud
sidusettevõtetesse 80 57
Investeeringud muudesse
osadesse ja aktsiatesse 262 238
Edasilükkunud tulumaksuvara 1 226 1 032
Immateriaalne põhivara 535 374
Kinnisvarainvesteeringud 1 086 1 018
Materiaalne põhivara 5 9 971 9 691
Põhivara kokku 13 422 12 659
VARAD KOKKU 53 753 42 256
KOHUSTUSED JA OMAKAPITAL
Lühiajalised kohustused
Lühiajalised laenukohustused 0 400
Lühiajalised rendikohustused 2 193 2 121
Võlad tarnijatele ja muud
võlad 6 6 504 5 583
Maksukohustised 671 675
Lühiajalised kohustused kokku 9 368 8 779
Pikaajalised kohustused
Edasilükkunud
tulumaksukohustis 1 746 500
Pikaajalised laenukohustutsed 0 400
Pikaajalised rendikohustused 4 727 4 707
Pikaajalised eraldised 51 52
Pikaajalised kohustused kokku 6 524 5 659
Kohustused kokku 15 892 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 -18 251 -18 864
Jaotamata kasum 42 526 33 140
Omakapital kokku, emaettevõtte
omanike osa 34 148 24 504
Vähemusosalus 3 713 3 314
Omakapital kokku 37 861 27 818
OMAKAPITAL JA KOHUSTUSED KOKKU 53 753 42 256
Konsolideeritud kasumiaruanne
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IV kvartal IV kvartal
tuhandetes eurodes Lisad 2021 2020 12 kuud 2021 12 kuud 2020
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Auditeerimata Auditeerimata Auditeerimata Auditeeritud
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Kliendilepingutest
saadav tulu 9 9 795 8 720 46 686 38 479
Müüdud toodangu
kulu -5 480 -3 608 -21 276 -15 270
Brutokasum 4 315 5 112 25 410 23 209
Turustuskulud -2 120 -1 940 -8 573 -8 548
Üldhalduskulud -892 -911 -3 555 -3 779
Muud äritulud -407 113 406 336
Muud ärikulud -216 -200 -683 -674
Ärikasum 680 2 174 13 005 10 544
Tulu/(kulu)
valuutakursi
muutustest 158 324 1 565 -6 062
Muud
finantstu/(kulu) -116 -83 -432 -428
Finantstulud /(-
kulud) kokku 42 241 1 133 -6 490
Kasum (kahjum)
sidusettevõtetest
kapitaliosaluse
meetodil 13 4 19 1
Kasum enne tulumaksu 735 2 419 14 157 4 055
Tulumaksukulu -1 329 -1 950 -4 233 -2 388
Aruandeperioodi
kasum -594 469 9 924 1 667
Sealhulgas:
Emaettevõte
omanike osa
kasumist -531 347 9 031 1 347
Vähemusosaluse
osa kasumist -63 122 893 320
Tava- ja
lahustatud kasum
emaettevõtte
omanike aktsia
kohta (eurodes) 8 -0,01 0,01 0,25 0,04
Konsolideeritud
koondkasumiaruanne
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IV kvartal IV kvartal
tuhandetes eurodes Lisad 2021 2020 12 kuud 2021 12 kuud 2020
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Auditeerimata Auditeerimata Auditeerimata Auditeeritud
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Aruandeperioodi
kasum -594 469 9 924 1 667
Muu koondkasum
(kahjum), mida
võib hiljem
kasumiaruandesse
ümber
klassifitseerida:
Kursivahede mõju
välismaiste
äriüksuste
tulemuste
ümberarvestamisele 161 -437 869 -3 187
Aruandeperioodi
muu koondkasum 161 -437 869 -3 187
Perioodi
koondkasum
(kahjum) kokku -433 32 10 793 -1 520
Sealhulgas:
Emaettevõtte
omanike osa
koondkasumist -353 318 9 644 -1 820
Vähemusosaluse
osa koondkasumist -80 -286 1 149 300
Konsolideeritud rahavoogude aruanne
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tuhandetes eurodes 12 kuud 12 kuud
2021 2020
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Auditeerimata Auditeeritud
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Rahavood äritegevusest
Perioodi kasum 9 924 1 667
Korrigeerimised:
Põhivara kulum 3 237 3 567
Kasum kapitaliosaluse meetodil kajastatud
investeeringutest -19 -1
(Kasum)/kahjum materiaalse põhivara müügist 24 9
Finantstulud ja -kulud kokku -1 133 450
Ebatõenäoliselt laekuvate arvete eraldis -1 20
Varude eraldis 187 202
Töötajatele makstavate sotsiaalhüvitiste eraldis 0 52
Tulumaksukulu 4 233 2 388
Varude muutus -1 979 832
Muutused nõuetes ostjate vastu ja muudes nõuetes -237 427
Muutused võlgades tarnijatele ja muudes võlgades 917 -1 512
Tasutud intressid -2 -9
Makstud tulumaks -2 155 -1 736
Rahavood äritegevusest kokku 12 996 6 356
Rahavood investeerimistegevusest
Saadud intressid 19 13
Saadud dividendid 0 46
Materiaalse põhivara müük 143 75
Materiaalse põhivara soetamine -312 -289
Immateriaalse põhivara soetamine -147 -110
Rahavood investeerimistegevusest kokku -297 -265
Rahavood finantseerimistegevusest
Vähemusosaluste omandamine 0 -26
Saadud laenud 0 800
Saadud laenude tagasimaksed -800 0
Rendikohustiste põhiosamaksed -2 402 -2 003
Rendikohustistelt tasutud intress -450 -492
Väljamakstud dividendid -750 -413
Rahavood finantseerimistegevusest kokku -4 402 -2 134
Raha ja rahalähendite muutus 8 297 3 957
Raha ja rahalähendid perioodi alguses 8 980 5 152
Mõju ümberarvutamisest esitlusvaluutasse 75 0
Valuutakursside muutuste mõju rahavoogudele -254 -129
Raha ja rahalähendid perioodi lõpus 17 098 8 980
AS Silvano Fashion Group
Tel: +372 6845 000
Email: [email protected]
Content of announcement in English
Title
Silvano Fashion Group Consolidated Interim Financial Report for Q4 and 12m of 2021 (unaudited)
Message
Selected Financial Indicators Summarized selected financial indicators of the Group for 12 months of 2021 compared to 12 months of 2020 and 31.12.2021 compared to 31.12.2020 were as follows: ------------------------------------------------------------------------------- in thousands of EUR 12m 2021 12m 2020 Change ------------------------------------------------------------------------------- Revenue 46 686 38 479 21.3% Gross Profit 25 410 23 209 9.5% Operating profit 13 005 10 544 23.3% EBITDA 16 242 14 111 15.1% Net profit for the period 9 924 1 667 495.3% Net profit attributable equity holders of the Parent company 9 031 1 347 570.5% Earnings per share (EUR) 0.25 0.04 525.0% Operating cash flow for the period 12 996 6 356 104.5% ------------------------------------------------------------------------------- in thousands of EUR 31.12.2021 31.12.2020 Change ------------------------------------------------------------------------------- Total assets 53 753 42 256 27.2% Total current assets 40 331 29 597 36.3% Total equity attributable to equity holders of the Parent company 34 148 24 504 39.4% Cash and cash equivalents 17 098 8 980 90.4% ------------------------------------------------------------------------------- Margin analysis, % 12m 2021 12m 2020 Change ------------------------------------------------------------------------------- Gross profit 54.4 60.3 -9.8% Operating profit 27.9 27.4 1.8% EBITDA 34.8 36.7 -5.2% Net profit 21.3 4.3 395.3% Net profit attributable to equity holders of the Parent company 19.3 3.5 451.4% ------------------------------------------------------------------------------- Financial ratios, % 31.12.2021 31.12.2020 Change ------------------------------------------------------------------------------- ROA 17.9 3.2 459.4% ROE 28.7 5.6 412.5% Price to earnings ratio (P/E) 7.8 41.7 -81.3% Current ratio 4.3 3.4 26.5% Quick ratio 2.1 1.3 61.5% Financial performance The Group`s sales amounted to 46 686 thousand EUR during 12 months of 2021, representing a 21.3% increase as compared to the same period of previous year. Overall, wholesale increased by 24.5%, measured in EUR. The Group's gross profit during 12 months of 2021 amounted to 25 410 thousand EUR and increase by 9.5% compared to previous year. The gross margin during 12 months of 2021 decreased to 54.4%, from 60.3% in the respective period of previous year. The cost of sold goods increased by 39.3%. Consolidated operating profit for 12 months of 2021 amounted to 13 005 thousand EUR, compared to 10 544 thousand EUR in 12 months of 2020, increase by 23.3%. The consolidated operating profit margin was 27.9% for 12 months of 2021 (27.4 in 12 months of 2020). Consolidated EBITDA for 12 months of 2021 increased by 15.1% and amounted to 16 242 thousand EUR, which is 34.8% in margin terms (14 111 thousand EUR and 36.7% for 12 months of 2020). Reported consolidated net profit attributable to equity holders of the Parent company for 12 months of 2021 amounted to 9 031 thousand EUR, compared to net profit of 1 347 thousand EUR in 12 months of 2020, net profit margin attributable to equity holders of the Parent company for 12 months of 2021 was 19.3% against 3.5% in 12 months of 2020. Financial position As of 31 December 2021 consolidated assets amounted to 53 753 thousand EUR representing increase by 27.2% as compared to the position as of 31 December 2020. Trade and other receivables increased by 237 thousand EUR as compared to 31 December 2020 and amounted to 2 325 thousand EUR as of 31 December 2021. Inventory balance increased by 2 379 thousand EUR and amounted to 20 906 thousand EUR as of 31 December 2021. Equity attributable to equity holders of the Parent company increased by 9 644 thousand EUR and amounted to 34 148 thousand EUR as of 31 December 2021. Current liabilities increased by 589 thousand EUR during 12 months of 2021. Investments During 12 months of 2021 the Group's investments into property, plant and equipment totalled 312 thousand EUR, in previous year same period 289 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 December 2021, the Group employed 1 602 employees, including 485 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 12 months of 2021 amounted to 9 388 thousand EUR (9 854 thousand EUR in 12 months of 2020). The remuneration of key management of the Group, including the key executives of all subsidiaries, totalled 598 thousand EUR. Consolidated Statement of Financial Position ------------------------------------------------------------------------------- in thousands of EUR Note 31.12.2021 31.12.2020 ------------------------------------------------------------------------------- Unaudited Audited ASSETS Current assets Cash and cash equivalents 2 17 098 8 980 Current loans granted 2 2 Trade and other receivables 3 2 325 2 088 Inventories 4 20 906 18 527 Total current assets 40 331 29 597 Non-current assets Long-term receivables 262 249 Investments in associates 80 57 Investments in other shares 262 238 Deferred tax asset 1 226 1 032 Intangible assets 535 374 Investment property 1 086 1 018 Property, plant and equipment 5 9 971 9 691 Total non-current assets 13 422 12 659 TOTAL ASSETS 53 753 42 256 LIABILITIES AND EQUITY Current liabilities Short-term borrowings 0 400 Short-term lease liabilities 2 193 2 121 Trade and other payables 6 6 504 5 583 Tax liabilities 671 675 Total current liabilities 9 368 8 779 Non-current liabilities Deferred tax liability 1 746 500 Long-term borrowings 0 400 Long-term lease liabilities 4 727 4 707 Long-term provisions 51 52 Total non-current liabilities 6 524 5 659 Total liabilities 15 892 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 -18 251 -18 864 Retained earnings 42 526 33 140 Total equity attributable to equity holders of the Parent company 34 148 24 504 Non-controlling interest 3 713 3 314 Total equity 37 861 27 818 TOTAL EQUITY AND LIABILITIES 53 753 42 256 Consolidated Income Statement ------------------------------------------------------------------------------- in thousands of EUR Note 4Q 2021 4Q 2020 12m 2021 12m 2020 ------------------------------------------------------------------------------- Unaudited Unaudited Unaudited Audited ------------------------------------------------------------------------------- Revenue from contracts with customers 9 9 795 8 720 46 686 38 479 Cost of goods sold -5 480 -3 608 -21 276 -15 270 Gross Profit 4 315 5 112 25 410 23 209 Distribution expenses -2 120 -1 940 -8 573 -8 548 Administrative expenses -892 -911 -3 555 -3 779 Other operating income -407 113 406 336 Other operating expenses -216 -200 -683 -674 Operating profit 680 2 174 13 005 10 544 Currency exchange income/(expense) 158 324 1 565 -6 062 Other finance income/(expenses) -116 -83 -432 -428 Net finance income 42 241 1 133 -6 490 Profit (loss) from associates using equity method 13 4 19 1 Profit before tax 735 2 419 14 157 4 055 Income tax expense -1 329 -1 950 -4 233 -2 388 Profit for the period -594 469 9 924 1 667 Attributable to : Equity holders of the Parent company -531 347 9 031 1 347 Non-controlling interest -63 122 893 320 Earnings per share from profit attributable to equity holders of the Parent company, both basic and diluted (EUR) 8 -0.01 0.01 0.25 0.04 Consolidated Statement of Comprehensive Income ------------------------------------------------------------------------------- in thousands of EUR Note 4Q 2021 4Q 2020 12m 2021 12m 2020 ------------------------------------------------------------------------------- Unaudited Unaudited Unaudited Audited Profit for the period -594 469 9 924 1 667 Other comprehensive income (loss) that will be reclassified to profit or loss in subsequent periods : Exchange differences on translation of foreign operations 161 -437 869 -3 187 Total other comprehensive income for the period 161 -437 869 -3 187 Total comprehensive income (loss) for the period -433 32 10 793 -1 520 Attributable to : Equity holders of the Parent company -353 318 9 644 -1 820 Non-controlling interest -80 -286 1 149 300 Consolidated Statement of Cash Flows ------------------------------------------------------------------------------- in thousands of EUR Note 12m 2021 12m 2020 ------------------------------------------------------------------------------- Unaudited Audited Cash flow from operating activities Profit for the period 9 924 1 667 Adjustments for: Depreciation and amortization of non-current assets 3 237 3 567 Share of profit of equity accounted investees -19 -1 Gains/Losses on the sale of property, plant and equipment 24 9 Net finance income / costs -1 133 450 Provision for impairment losses on trade receivables -1 20 Provision for inventories 187 202 Provision for benefits to employees 0 52 Income tax expense 4 233 2 388 Change in inventories -1 979 832 Change in trade and other receivables -237 427 Change in trade and other payables 917 -1 512 Interest paid -2 -9 Income tax paid -2 155 -1 736 Net cash flow from operating activities 12 996 6 356 Cash flow from investing activities Interest received 19 13 Dividends received 0 46 Proceeds from disposal of property, plant and equipment 143 75 Acquisition of property, plant and equipment -312 -289 Acquisition of intangible assets -147 -110 Net cash flow from investing activities -297 -265 Cash flow from financing activities Acquisition of non-controlling interests 0 -26 Proceeds from borrowings 0 800 Repayment of borrowings -800 0 Payment of principal portion of lease liabilities -2 402 -2 003 Interest paid on lease liabilities -450 -492 Dividends paid -750 -413 Net cash flow from financing activities -4 402 -2 134 Net increase in cash and cash equivalents 8 297 3 957 Cash and cash equivalents at the beginning of period 8 980 5 152 Effect of translation to presentation currency 75 0 Effect of exchange rate fluctuations on cash held -254 -129 Cash and cash equivalents at the end of period 17 098 8 980 AS Silvano Fashion Group Phone: +372 6845 000 Email: [email protected]