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
9969
Attachments
Submission date and time
27.11.2022 23:59:00
Content of announcement in Estonian
Title
Silvano Fashion Group 2022.aasta III kvartali ja 9 kuu konsolideeritud vahearuanne (auditeerimata)
Message
Põhilised finantsnäitajad
Kontserni 2022. aasta 9 kuu (võrrelduna 2021. aasta 9 kuuga) ja 30.09.2022
(võrrelduna 31.12.2021) põhilised finantsnäitajad on järgmised:
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tuhandetes eurodes 9 kuud 2022 9 kuud 2021 Muutus
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Müügitulu 43 974 36 891 19,2%
Brutokasum 22 066 21 095 4,6%
Ärikasum 10 611 12 325 -13,9%
EBITDA 13 180 14 744 -10,6%
Aruandeperioodi puhaskasum 12 516 10 518 19,0%
Puhaskasum, emaettevõtte
omanike osa 11 835 9 562 23,8%
Kasum aktsia kohta (eurodes) 0,33 0,27 22,2%
Äritegevuse rahavoog
perioodil 12 493 12 910 -3,2%
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tuhandetes eurodes 30.09.2022 31.12.2021 Muutus
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Varad kokku 69 731 53 753 29,7%
Käibevarad kokku 52 795 40 331 30,9%
Omakapital kokku, emaettevõtte omanike osa 48 093 34 148 40,8%
Raha ja raha ekvivalendid 26 263 17 098 53,6%
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Rentaablusanalüüs, % 9 kuud 2022 9 kuud 2021 Muutus
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Brutokasum 50,2 57,2 -12,2%
Ärikasum 24,1 33,4 -27,8%
EBITDA 30,0 40,0 -25,0%
Puhaskasum 28,5 28,5 0,0%
Puhaskasum , emaettevõtte omanike osa 26,9 25,9 3,9%
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Finantssuhtarvud, % 30.09.2022 31.12.2021 Muutus
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ROA 19,0 17,9 6,1%
ROE 28,8 28,7 0,3%
Hinna/ kasumi suhe 2,9 7,8 -62,8%
Lühiajaliste kohustuste kattekordaja 6,4 4,3 48,8%
Likviidsuskordaja 3,5 2,1 66,7%
Majandustulemused
Kontserni 2022. aasta 9 kuu käive moodustas 43 974 tuhat eurot, suurenedes
eelmise aasta sama perioodiga võrreldes 19,2% võrra. Jaemüügi käive suurenes
32,3% võrra, mõõdetuna eurodes.
Kontserni 2022. aasta 9 kuu brutokasum oli 22 066 tuhat eurot, suurenedes
eelmise aastaga võrreldes 4,6%. Perioodi brutokasumi marginaal vähenes 2022.
aasta 9 kuu jooksul 57,2%-lt 50,2%-le. Müüdud toodangu kulu suurenes 38,7%
võrra.
2022. aasta 9 kuu konsolideeritud ärikasum vähenes 13,9% ja ulatus 10 611
tuhande euroni võrreldes 2021. aasta 9 kuu konsolideeritud ärikasumiga summas
12 325 tuhat eurot. 2022. aasta 9 kuu ärikasumi rentaablus oli 24,1% võrreldes
33,4%-ga eelmise aasta samal perioodil. Konsolideeritud EBITDA vähenes 10,6% ja
moodustas 2022. aasta 9 kuuga 13 180 tuhat eurot, mis tähendab 30,0% rentaablust
(14 744 tuhat eurot ja 40,0% eelmise aasta samal perioodil).
Ettevõtte puhaskasum emaettevõtte aktsionäridele moodustas 2022. aasta 9 kuuga
11 835 tuhat eurot võrreldes puhaskasumiga 9 562 tuhat eurot 2021. aasta 9
kuuga, puhaskasumi marginaal emaettevõtte aktsionäridele moodustas 2022. aasta
9 kuuga 26,9% võrreldes puhaskasumiga 25,9%-ga eelmise aasta samal perioodil.
Finantsseisund
Seisuga 30. september 2022 ulatus kontserni konsolideeritud varade maht 69 731
tuhande euroni, suurenedes 29,7% võrreldes 31. detsembriga 2021.
Võrreldes 31. detsembriga 2021 suurenesid nõuded ostjate vastu ja muud nõuded
266 tuhande euro võrra ja moodustasid 2022. aasta 30. septembri seisuga 2 591
tuhat eurot. Varude saldo suurenes 3 022 tuhande euro võrra ning
2022. aasta 30. septembri seisuga moodustas 23 928 tuhat eurot.
Emaettevõtte aktsionäride osa omakapitalis suurenes 13 945 tuhande euro võrra,
ulatudes 2022. aasta 30. septembri seisuga 48 093 tuhande euroni. Lühiajalised
kohustused vähenesid 2022.aasta 9 kuuga 1 148 tuhande euro võrra.
Investeeringud
Kontserni 2022. aasta 9 kuu investeeringute kogumaht materiaalsesse põhivarasse,
tehasesse ja seadmetesse moodustas 228 tuhat eurot, 177 tuhat eurot eelmise
aasta samal perioodil. Investeeringud teostati peamiselt oma poodide avamisse ja
renoveerimisse, samuti seadmetesse ja hoonetesse tootmise efektiivsuse
säilitamiseks tulevastes perioodides.
Personal
2022. aasta 30.septembri seisuga oli kontsernil 1 601 töötajat, neist 501 töötas
jaemüügi segmendis. Ülejäänud töötajad tegutsesid tootmise, hulgimüügi-, haldus-
ja tugiteenuste valdkondades. 31.12.2021 seisuga oli 1 602 töötajat, neist 485
töötas jaemüügi segmendis.
Kontserni 2022. aasta 9 kuu palgakulu koos maksudega oli 8 938 tuhat eurot (7
158 tuhat eurot 2021.aasta 9 kuud). Kontserni juhtkonna võtmeisikute töötasud,
sealhulgas tütarettevõtete võtmeisikute tasud, moodustasid kokku 497 tuhat
eurot.
Konsolideeritud finantsseisundi aruanne
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tuhandetes eurodes Lisad 30.09.2022 31.12.2021
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Auditeerimata Auditeeritud
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VARAD
Käibevara
Raha ja rahalähendid 2 26 263 17 098
Väljaantud laenud 13 2
Nõuded ostjate vastu ja muud
nõuded 3 2 591 2 325
Varud 4 23 928 20 906
Käibevara kokku 52 795 40 331
Põhivara
Pikaajalised nõuded 406 262
Investeeringud
sidusettevõtetesse 111 80
Investeeringud muudesse
osadesse ja aktsiatesse 315 262
Edasilükkunud tulumaksuvara 1 575 1 226
Immateriaalne põhivara 683 535
Kinnisvarainvesteeringud 1 276 1 086
Materiaalne põhivara 5 12 570 9 971
Põhivara kokku 16 936 13 422
VARAD KOKKU 69 731 53 753
KOHUSTUSED JA OMAKAPITAL
Lühiajalised kohustused
Lühiajalised rendikohustused 1 136 2 193
Võlad tarnijatele ja muud
võlad 6 4 343 6 504
Maksukohustised 2 741 671
Lühiajalised kohustused kokku 8 220 9 368
Pikaajalised kohustused
Edasilükkunud
tulumaksukohustis 2 259 1 746
Pikaajalised rendikohustused 7 309 4 727
Pikaajalised eraldised 61 51
Pikaajalised kohustused kokku 9 629 6 524
Kohustused kokku 17 849 15 892
Omakapital
Aktsiakapital 7 3 600 3 600
Ülekurss 4 967 4 967
Kohustuslik reservkapital 1 306 1 306
Realiseerimata kursivahed -16 141 -18 251
Jaotamata kasum 54 361 42 526
Omakapital kokku, emaettevõtte
omanike osa 48 093 34 148
Vähemusosalus 3 789 3 713
Omakapital kokku 51 882 37 861
OMAKAPITAL JA KOHUSTUSED KOKKU 69 731 53 753
Konsolideeritud kasumiaruanne
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III kvartal III kvartal 9 kuud
tuhandetes eurodes Lisad 2022 2021 9 kuud 2022 2021
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Auditeerimata Auditeerimata Auditeerimata Auditeerimata
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Kliendilepingutest
saadav tulu 9 17 604 13 666 43 974 36 891
Müüdud toodangu
kulu -8 423 -6 232 -21 908 -15 796
Brutokasum 9 181 7 434 22 066 21 095
Turustuskulud -3 093 -2 249 -8 120 -6 453
Üldhalduskulud -1 094 -875 -3 136 -2 663
Muud äritulud 130 247 349 813
Muud ärikulud -198 -173 -548 -467
Ärikasum 4 926 4 384 10 611 12 325
Tulu/(kulu)
valuutakursi
muutustest -949 347 5 036 1 407
Muud
finantstu/(kulu) 127 -100 -103 -316
Finantstulud /(-
kulud) kokku -822 247 4 933 1 091
Kasum (kahjum)
sidusettevõtetest
kapitaliosaluse
meetodil 10 7 -1 6
Kasum enne tulumaksu 4 114 4 638 15 543 13 422
Tulumaksukulu -1 425 -816 -3 027 -2 904
Aruandeperioodi
kasum 2 689 3 822 12 516 10 518
Sealhulgas:
Emaettevõte
omanike osa 2 489 3 531 11 835 9 562
Vähemusosaluse
osa 200 291 681 956
Tava- ja
lahustatud kasum
emaettevõtte
omanike aktsia
kohta (eurodes) 8 0,07 0,10 0,33 0,27
Konsolideeritud
koondkasumiaruanne
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III kvartal III kvartal 9 kuud
tuhandetes eurodes Lisad 2022 2021 9 kuud 2022 2021
----------------------------------------------------------------------------------
Auditeerimata Auditeerimata Auditeerimata Auditeerimata
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Aruandeperioodi
kasum 2 689 3 822 12 516 10 518
Muu koondkasum
(kahjum), mida
võib hiljem
kasumiaruandesse
ümber
klassifitseerida:
Kursivahede mõju
välismaiste
äriüksuste
tulemuste
ümberarvestamisele 2 894 439 2 175 708
Aruandeperioodi
muu koondkasum 2 894 439 2 175 708
Perioodi
koondkasum
(kahjum) kokku 5 583 4 261 14 691 11 226
Sealhulgas:
Emaettevõtte
omanike osa 5 489 4 004 13 945 9 997
Vähemusosaluse
osa 94 257 746 1 229
Konsolideeritud rahavoogude aruanne
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tuhandetes eurodes 9 kuud 9 kuud
Lisad 2022 2021
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Auditeerimata Auditeerimata
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Rahavood äritegevusest
Perioodi kasum 12 516 10 518
Korrigeerimised:
Põhivara kulum 2 569 2 419
Kasum kapitaliosaluse meetodil
kajastatud investeeringutest 1 -6
(Kasum)/kahjum materiaalse põhivara
müügist 9 11
Finantstulud ja -kulud kokku - 522 -395
Ebatõenäoliselt laekuvate arvete eraldis 0 1
Varude eraldis 5 5
Laekumised sihtfinantseerimisest 0 550
Eraldiste ja sihtfinantseerimise muutus 0 -550
Tulumaksukulu 3 027 2 904
Varude muutus -3 022 -1 231
Muutused nõuetes ostjate vastu ja muudes
nõuetes -266 32
Muutused võlgades tarnijatele ja muudes
võlgades -91 330
Tasutud intressid 0 -2
Makstud tulumaks -1 733 -1 676
Rahavood äritegevusest kokku 12 493 12 910
Rahavood investeerimistegevusest
Saadud intressid 29 14
Saadud dividendid 3 0
Materiaalse põhivara müük 31 60
Väljaantud laenud -11 0
Materiaalse põhivara soetamine -228 -177
Immateriaalse põhivara soetamine -74 -121
Rahavood investeerimistegevusest kokku -250 -224
Rahavood finantseerimistegevusest
Saadud laenude tagasimaksed 0 -800
Rendikohustiste põhiosamaksed -1 879 -1 761
Rendikohustistelt tasutud intress -356 -326
Makstud dividendid -670 -739
Rahavood finantseerimistegevusest kokku -2 905 -3 626
Raha ja rahalähendite muutus 9 338 9 060
Raha ja rahalähendid perioodi alguses 17 098 8 980
Valuutakursside muutuste mõju rahavoogudele -173 57
Raha ja rahalähendid perioodi lõpus 26 263 18 097
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 Q3 and 9 months of 2022 (unaudited)
Message
Selected Financial Indicators Summarized selected financial indicators of the Group for 9 months of 2022 compared to 9 months of 2021 and 30.09.2022 compared to 31.12.2021 were as follows: ------------------------------------------------------------------------------- in thousands of EUR 09m 2022 09m 2021 Change ------------------------------------------------------------------------------- Revenue 43 974 36 891 19.2% Gross Profit 22 066 21 095 4.6% Operating profit 10 611 12 325 -13.9% EBITDA 13 180 14 744 -10.6% Net profit for the period 12 516 10 518 19.0% Net profit attributable equity holders of the Parent company 11 835 9 562 23.8% Earnings per share (EUR) 0,33 0,27 22.2% Operating cash flow for the period 12 493 12 910 -3.2% ------------------------------------------------------------------------------- in thousands of EUR 30.09.2022 31.12.2021 Change ------------------------------------------------------------------------------- Total assets 69 731 53 753 29.7% Total current assets 52 795 40 331 30.9% Total equity attributable to equity holders of the Parent company 48 093 34 148 40.8% Cash and cash equivalents 26 263 17 098 53.6% ------------------------------------------------------------------------------- Margin analysis, % 09m 2022 09m 2021 Change ------------------------------------------------------------------------------- Gross profit 50.2 57.2 -12.2% Operating profit 24.1 33.4 -27.8% EBITDA 30.0 40.0 -25.0% Net profit 28.5 28.5 0.0% Net profit attributable to equity holders of the Parent company 26.9 25.9 3.9% ------------------------------------------------------------------------------- Financial ratios, % 30.09.2022 31.12.2021 Change ------------------------------------------------------------------------------- ROA 19.0 17.9 6.1% ROE 28.8 28.7 0.3% Price to earnings ratio (P/E) 2.9 7.8 -62.8% Current ratio 6.4 4.3 48.8% Quick ratio 3.5 2.1 66.7% Financial performance The Group`s sales amounted to 43 974 thousand EUR during 9 months of 2022, representing a 19.2% increase as compared to the same period of previous year. Overall, retail increased by 32.3%, measured in EUR. The Group's gross profit during 9 months of 2022 amounted to 22 066 thousand EUR and increase by 4.6% compared to previous year. The gross margin during 9 months of 2022 decreased to 50.2%, from 57.2% in the respective period of previous year. The cost of sold goods increased by 38.7%. Consolidated operating profit for 9 months of 2022 amounted to 10 611 thousand EUR, compared to 12 325 thousand EUR in 9 months of 2021, decrease by 13.9%. The consolidated operating profit margin was 24.1% for 9 months of 2022 (33.4% in 9 months of 2021). Consolidated EBITDA for 9 months of 2022 decreased by 10.6% and amounted to 13 180 thousand EUR, which is 30.0% in margin terms (14 744 thousand EUR and 40.0% for 9 months of 2021). Reported consolidated net profit attributable to equity holders of the Parent company for 9 months of 2022 amounted to 11 835 thousand EUR, compared to net profit of 9 562 thousand EUR in 9 months of 2021, net profit margin attributable to equity holders of the Parent company for 9 months of 2022 was 26.9% against net profit 25.9% in 9 months of 2021. Financial position As of 30 September 2022 consolidated assets amounted to 69 731 thousand EUR representing increase by 29.7% as compared to the position as of 31 December 2021. Trade and other receivables increased by 266 thousand EUR as compared to 31 December 2021 and amounted to 2 591 thousand EUR as of 30 September 2022. Inventory balance increased by 3 022 thousand EUR and amounted to 23 928 thousand EUR as of 30 September 2022. Equity attributable to equity holders of the Parent company increased by 13 945 thousand EUR and amounted to 48 093 thousand EUR as of 30 September 2022. Current liabilities decreased by 1 148 thousand EUR during 9 months of 2022. Investments During 9 months of 2022 the Group's investments into property, plant and equipment totalled 228 thousand EUR, in previous year same period 177 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 2022, the Group employed 1 601 employees, including 501 people in retail operations. The rest were employed in production, wholesale, administration and support operations. In 31.12.2021 there were 1 602 employees, including 485 people in retail operations. Total salaries and related taxes during 9 months of 2022 amounted to 8 938 thousand EUR (7 158 thousand EUR in 9 months of 2021). The remuneration of key management of the Group, including the key executives of all subsidiaries, totalled 497 thousand EUR. Consolidated Statement of Financial Position ------------------------------------------------------------------------------- in thousands of EUR Note 30.09.2022 31.12.2021 ------------------------------------------------------------------------------- Unaudited Audited ASSETS Current assets Cash and cash equivalents 2 26 263 17 098 Current loans granted 13 2 Trade and other receivables 3 2 591 2 325 Inventories 4 23 928 20 906 Total current assets 52 795 40 331 Non-current assets Long-term receivables 406 262 Investments in associates 111 80 Investments in other shares 315 262 Deferred tax asset 1 575 1 226 Intangible assets 683 535 Investment property 1 276 1 086 Property, plant and equipment 5 12 570 9 971 Total non-current assets 16 936 13 422 TOTAL ASSETS 69 731 53 753 LIABILITIES AND EQUITY Current liabilities Short-term lease liabilities 1 136 2 193 Trade and other payables 6 4 343 6 504 Tax liabilities 2 741 671 Total current liabilities 8 220 9 368 Non-current liabilities Deferred tax liability 2 259 1 746 Long-term lease liabilities 7 309 4 727 Long-term provisions 61 51 Total non-current liabilities 9 629 6 524 Total liabilities 17 849 15 892 Equity 7 Share capital 3 600 3 600 Share premium 4 967 4 967 Statutory reserve capital 1 306 1 306 Unrealised exchange rate differences -16 141 -18 251 Retained earnings 54 361 42 526 Total equity attributable to equity holders of the Parent company 48 093 34 148 Non-controlling interest 3 789 3 713 Total equity 51 882 37 861 TOTAL EQUITY AND LIABILITIES 69 731 53 753 Consolidated Income Statement ------------------------------------------------------------------------------- in thousands of EUR Note 3Q 2022 3Q 2021 09m 2022 09m 2021 ------------------------------------------------------------------------------- Unaudited Unaudited Unaudited Unaudited Revenue from contracts with customers 9 17 604 13 666 43 974 36 891 Cost of goods sold -8 423 -6 232 -21 908 -15 796 Gross Profit 9 181 7 434 22 066 21 095 Distribution expenses -3 093 -2 249 -8 120 -6 453 Administrative expenses -1 094 -875 -3 136 -2 663 Other operating income 130 247 349 813 Other operating expenses -198 -173 -548 -467 Operating profit 4 926 4 384 10 611 12 325 Currency exchange income/(expense) -949 347 5 036 1 407 Other finance income/(expense) 127 -100 -103 -316 Net finance income/(expense) -822 247 4 933 1 091 Profit (loss) from associates using equity method 10 7 -1 6 Profit before tax 4 114 4 638 15 543 13 422 Income tax expense -1 425 -816 -3 027 -2 904 Profit for the period 2 689 3 822 12 516 10 518 Attributable to : Equity holders of the Parent company 2 489 3 531 11 835 9 562 Non-controlling interest 200 291 681 956 Earnings per share from profit attributable to equity holders of the Parent company, both basic and diluted (EUR) 8 0,07 0,10 0,33 0,27 Consolidated Statement of Comprehensive Income ------------------------------------------------------------------------------- in thousands of EUR Note 3Q 2022 3Q 2021 09m 2022 09m 2021 ------------------------------------------------------------------------------- Unaudited Unaudited Unaudited Unaudited Profit for the period 2 689 3 822 12 516 10 518 Other comprehensive income (loss) that will be reclassified to profit or loss in subsequent periods : Exchange differences on translation of foreign operations 2 894 439 2 175 708 Total other comprehensive income for the period 2 894 439 2 175 708 Total comprehensive income (loss) for the period 5 583 4 261 14 691 11 226 Attributable to : Equity holders of the Parent company 5 489 4 004 13 945 9 997 Non-controlling interest 94 257 746 1 229 Consolidated Statement of Cash Flows ------------------------------------------------------------------------------- in thousands of EUR Note 09m 2022 09m 2021 ------------------------------------------------------------------------------- Unaudited Unaudited Cash flow from operating activities Profit for the period 12 516 10 518 Adjustments for: Depreciation and amortization of non-current assets 2 569 2 419 Share of profit of equity accounted investees 1 -6 Gains/Losses on the sale of property, plant and equipment 9 11 Net finance income / costs -522 -395 Provision for impairment losses on trade receivables 0 1 Provision for inventories 5 5 Receipt of government grants 0 550 Movements in provisions and government grants 0 -550 Income tax expense 3 027 2 904 Change in inventories -3 022 -1 231 Change in trade and other receivables -266 32 Change in trade and other payables -91 330 Interest paid 0 -2 Income tax paid -1 733 -1 676 Net cash flow from operating activities 12 493 12 910 Cash flow from investing activities Interest received 29 14 Dividends received 3 0 Proceeds from disposal of property, plant and equipment 31 60 Loans granted -11 0 Acquisition of property, plant and equipment -228 -177 Acquisition of intangible assets -74 -121 Net cash flow from investing activities -250 -224 Cash flow from financing activities Repayment of borrowings 0 -800 Payment of principal portion of lease liabilities -1 879 -1 761 Interest paid on lease liabilities -356 -326 Dividends paid -670 -739 Net cash flow from financing activities -2 905 -3 626 Net increase in cash and cash equivalents 9 338 9 060 Cash and cash equivalents at the beginning of period 17 098 8 980 Effect of exchange rate fluctuations on cash held -173 57 Cash and cash equivalents at the end of period 26 263 18 097 AS Silvano Fashion Group Phone: +372 6845 000 Email: [email protected]