Börsiteade
AS Harju Elekter Group
LEI kood
5299009GM96I0NYKWS93
Emitendi suuruskategooria
Suur kontsern
Majandustegevusalad
Kinnisvaraalane tegevus
Sektor(id)
Reitinguagentuur
Emitendi registreeritud asukoht
Eesti
Üldandmed
Kategooriad
Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
Teate ID
10270
Manused
Esitamise kuupäev ja aeg
26.04.2023 08:00:00
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Pealkiri
Harju Elekter kontserni majandustulemused, 1-3/2023
Teade
Harju Elektri aruandekvartali müügitulu kasvu ja kasumlikkust on tuntavalt mõjutanud äriprotsesside ülevaatus, tootmisefektiivsuse suurendamine ning materjalide ja komponentide tarneprobleemide vähenemine. Lisaks on positiivse tulemuse taga olulised otsused äritegevuse optimeerimiseks ja kulude kokkuhoiuks ning õnnestunud hinnaläbirääkimised raamhangetes. Kontsern jätkab efektiivsuse parandamist, et kasvatada kasumlikkust. Müügitulu ja finantstulemused Harju Elekter teenis aruandekvartalis müügitulu 45,3 (2022 I kv: 37,3) miljonit eurot, mis on 21,3% rohkem kui aasta varem ning ka ajalooliselt parim esimese kvartali tulemus. Müüdi enam madalpinge jaotusseadmeid ja sagedusmuundurkilpe ning realiseerusid suuremad projektid. ---------------------------------------------------------------------------- EUR '000 3 kuud 3 kuud Muutus 2023 2022 ---------------------------------------------------------------------------- Müügitulu 45 269 37 321 21,3% Brutokasum 5 386 2 986 80,3% Ärikasum (-kahjum) enne kulumit (EBITDA) 2 382 -68 3601,5% Ärikasum (-kahjum) (EBIT) 1 309 -1 125 216,3% Perioodi puhaskasum (-kahjum) 749 -1 294 157,9% sh emaettevõtte omanike osa 781 -1 308 159,7% Puhaskasum (-kahjum) aktsia kohta (eurot) 0,04 -0,07 157,1% ---------------------------------------------------------------------------- Kontserni äritegevuse kulud olid aruandekvartalis kokku 43,8 (2022 I kv: 38,4) miljonit eurot. Valdava osa äritegevuskulude tõusust andis müüdud toodete ja teenuste kulude 16,2%-line kasv. Samas, müüdud toodete ja teenuste kulude kasv jäi alla esimeste kvartalite müügitulu kasvutempole 5,1 protsendipunkti võrra. Turustuskulud jäid samasse suurusjärku, olles 1,4 miljoni eurot ning moodustades kontserni äritegevuse kuludest 3,1% ja müügitulust 3,0%. Üldhalduskulud vähenesid kvartalite võrdluses 0,1 miljoni euro võrra 2,6 miljoni euroni, moodustades kontserni aruandekvartali äritegevuse kuludest 5,9% ja müügitulust 5,7%. Kvartalite võrdluses kasvasid tööjõukulud 9,2%, ulatudes 9,5 miljoni euroni. Valdava osa tööjõukulude kasvust andis personali juurdekasv ning keskmise töötasu kasvu mõjutas üldisest majandusest tulev palgasurve. Esimese kvartali brutokasum oli 5386 (2022 I kv: 2986) tuhat eurot ja brutokasumi marginaaliks kujunes 11,9% (2022 I kv: 8,0%). Ärikasum (EBIT) oli 1309 (2022 I kv: ärikahjum 1125) tuhat eurot. Aruandekvartali ärirentaabluseks kujunes 2,9% (2022 I kv: -3,0%). Puhaskasum esimeses kvartalis oli 749 (2022 I kv: puhaskahjum 1294) tuhat eurot, millest emaettevõtte omanike osa moodustas 781 (2022 I kv: puhaskahjum 1308) tuhat eurot. Puhaskasum aktsia kohta oli esimeses kvartalis 0,04, aasta varem oli puhaskahjum aktsia kohta -0,07 eurot. Põhitegevusala ja turud Kontserni põhitegevusala, tootmine, moodustas kontserni aruandekvartali müügitulust 94,1%. Tootmissegmendi müügitulu kasvas aruandekvartalis 30,1%, olles 42,6 miljonit eurot. Aruandekvartalis teeniti Eestist 5,0 (2022 I kv: 6,9) miljonit eurot, moodustades müügitulust 10,9% (2022 I kv: 18,5%). Müügitulu vähenes 1,9 miljoni euro võrra ning valdavalt on see seotud Eesti elektrikaupade projekti- ja jaemüügi müügitegevuse lõppemisega. Aruandekvartalis teeniti müügitulu Soome turult 11,6% enam kui aasta varem, kokku 18,6 (2022 I kv: 16,7) miljonit eurot. Valdava osa müügitulude kasvust andsid automaatikaseadmete ja madalpinge jaotusseadmete müük võtmeklientidele ning autosoojendus- ja laadimisseadmete ning päikesepaneelide süsteemide tellimuste kasv. Lisaks kasvas Soome laevaehitussektori elektritööde maht. Kontserni suurimale turule müüdi aruandekvartalis 41,2% (2022 I kv: 44,7%) Harju Elektri toodetest ja teenustest. Rootsi turu müügitulu kasvas esimeste kvartalite võrdluses 11,1% võrra alajaamade müügi suurenemise ja projektiäri kasvu toel, olles 6,5 (2022 I kv: 5.8) miljonit eurot. Rootsi moodustas aruandekvartali müügitulust 14,3% (2022 I kv: 15,6%). Müügitulu Norra turule vähenes aasta varasema tulemusega, olles 4,0 (2022 I kv: 4,5) miljoni eurot. Norra turg moodustas aruandekvartali müügitulust 8,9% (2022 I kv: 12,1%). Investeeringud Harju Elekter investeeris aruandeperioodil põhivarasse kokku 0,6 (2022 I kv: 1,5) miljonit eurot, sealhulgas kinnisvarainvesteeringutesse 0,3 (2022 I kv: 1,0) miljonit eurot, materiaalsesse põhivarasse 0,2 (2022 I kv: 0,4) miljonit eurot ja immateriaalsesse põhivarasse 0,1 (2022 I kv: 0,1) miljonit eurot. Valdavalt investeeriti tootmistehnoloogilisse põhivarasse, tootmis- ja protsessijuhtimissüsteemidesse. Kontserni pikaajaliste finantsinvesteeringute väärtus oli aruandekuupäeva seisuga kokku 23,8 (31.12.22: 23,7) miljonit eurot. Aktsia Ettevõtte aktsia sulgus aruandekvartali viimasel kauplemispäeval Nasdaq Tallinna börsil 5,0 euro tasemel. AS-il Harju Elekter oli 31.03.2023 seisuga 11 232 aktsionäri. Aruandekvartali jooksul suurenes aktsionäride arv 648 võrra. KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE Auditeerimata ------------------------------------------------------------------------------ EUR '000 31.03.2023 31.12.2022 31.03.2022 ------------------------------------------------------------------------------ VARAD Käibevarad Raha ja raha ekvivalendid 1 028 9 152 286 Nõuded ostjatele ja muud nõuded 37 627 31 612 35 663 Ettemaksed 1 945 1 126 3 119 Varud 44 704 37 068 37 692 Käibevara kokku 85 304 79 958 76 760 ------------------------------------------------------------------------------ Põhivara Edasilükkunud tulumaksu vara 1 002 1 008 776 Pikaajalised finantsinvesteeringud 23 767 23 731 24 410 Kinnisvarainvesteeringud 24 766 24 756 24 603 Materiaalne põhivara 35 042 35 740 26 303 Immateriaalne põhivara 7 284 7 244 7 659 Põhivara kokku 91 861 92 479 83 751 ------------------------------------------------------------------------------ VARAD KOKKU 177 165 171 437 160 511 ------------------------------------------------------------------------------ KOHUSTUSED JA OMAKAPITAL Kohustused Võlakohustused 18 366 24 385 21 354 Ostjate ettemaksed 21 310 16 827 6 681 Võlad tarnijatele ja muud võlad 31 888 24 502 31 063 Maksuvõlad 3 033 3 478 3 663 Lühiajalised eraldised 1 950 2 103 51 Lühiajalised kohustused kokku 76 547 71 295 62 812 ------------------------------------------------------------------------------ Võlakohustused 20 412 20 732 12 401 Muud pikaajalised kohustused 0 0 33 Pikaajalised kohustused kokku 20 412 20 732 12 434 ------------------------------------------------------------------------------ KOHUSTUSED KOKKU 96 959 92 027 75 246 ------------------------------------------------------------------------------ Omakapital Aktsiakapital 11 523 11 523 11 352 Ülekurss 2 509 2 509 1 601 Reservid 17 815 17 768 18 278 Jaotamata kasum 48 552 47 771 54 158 Emaettevõtte omanikele kuuluv omakapital kokku 80 399 79 571 85 389 Mittekontrolliv osalus -193 -161 -124 Omakapital kokku 80 206 79 410 85 265 ------------------------------------------------------------------------------ KOHUSTUSED JA OMAKAPITAL KOKKU 177 165 171 437 160 511 ------------------------------------------------------------------------------ KONSOLIDEERITUD KASUMIARUANNE Auditeerimata ---------------------------------------------------------------- EUR '000 3 kuud 3 kuud 2023 2022 ---------------------------------------------------------------- Müügitulu 45 269 37 321 Müüdud toodete ja teenuste kulud -39 883 -34 335 Brutokasum 5 386 2 986 Turustuskulud - 1 356 - 1 350 Üldhalduskulud -2 580 -2 655 Muud äritulud 18 56 Muud ärikulud -159 -152 Ärikasum (-kahjum) 1 309 -1 125 Finantstulud 75 39 Finantskulud -549 -119 Kasum (-kahjum) enne maksustamist 835 -1 205 Tulumaks -86 -89 Perioodi puhaskasum (-kahjum) 749 -1 294 ---------------------------------------------------------------- Puhaskasumi (-kahjum) jaotus Emaettevõtte omanike osa puhaskasumist 781 -1 308 Mitte-kontrolliv osa puhaskasumist -32 14 ---------------------------------------------------------------- Puhaskasum (-kahjum) aktsia kohta Tavapuhaskasum aktsia kohta (EUR) 0,04 -0,07 Lahustatud puhaskasum aktsia kohta (EUR) 0,04 -0,07 ---------------------------------------------------------------- KONSOLIDEERITUD KOONDKASUMIARUANNE Auditeerimata ------------------------------------------------------------------------- EUR '000 3 kuud 3 kuud 2023 2022 ------------------------------------------------------------------------- Perioodi puhaskasum (-kahjum) 749 -1 294 Muu koondkasum (-kahjum) Kirjed, mis hiljem võib klassifitseerida kasumiaruandesse Valuutakursi vahed välisettevõtte ümberarvestusel -41 20 Kirjed, mida hiljem ei klassifitseerita kasumiaruandesse Realiseerunud kasum finantsvara müügist 0 151 Finantsvara ümberhindluse netokasum/netokahjum (-) 36 -521 Perioodi muu koondkasum (-kahjum) kokku -5 -350 Perioodi koondkasum (-kahjum) kokku 744 -1 644 ------------------------------------------------------------------------- Koondkasumi (-kahjum) jaotus: Emaettevõtte omanike osa koondkasumist 776 -1 658 Mitte-kontrolliv osa koondkasumist -32 14 ------------------------------------------------------------------------- Priit Treial Finantsjuht ja juhatuse liige Tel 674 7400
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Harju Elekter Group financial results, 1-3/2023
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During the reporting quarter, Harju Elekter Group's revenue growth and profitability were significantly impacted by the review of the business processes, increased production efficiency, and reduced problems with material and component supply. Furthermore, the positive result can be attributed to important decisions made to optimize business operations and achieve cost savings, as well as successful price negotiations in framework procurements. The Group remains committed to improving efficiency in order to increase profitability. Revenue and financial results Harju Elekter Group's revenue in the reporting quarter was 45.3 (2022 Q1: 37.3) million euros, which is 21,3% more than a year before and historically the best first quarterly result. More low-voltage switchgears and frequency converter switchboards were sold, and larger projects were realised. --------------------------------------------------------------------------- EUR '000 3M 3M +/- 2023 2022 --------------------------------------------------------------------------- Revenue 45,269 37,321 21.3% Gross profit 5,386 2,986 80.3% EBITDA 2,382 -68 3601.5% Operating profit/loss (-) (EBIT) 1,309 -1,125 216.3% Profit/loss (-) for the period 749 -1,294 157.9% Incl. attributable to owners of the parent company 781 -1,308 159.7% Earnings per share (EPS) (euros) 0.04 -0.07 157.1% --------------------------------------------------------------------------- The Group's operating expenses totalled 43.8 (2022 Q1: 38.4) million euros in the reporting quarter. Most of the increase in operating expenses was due to the 16.2 % increase in the cost of sales. At the same time, the growth of costs of sales was lower than the growth rate of revenue in the first quarters by 5.1 percentage points. Distribution costs remained at the same level, being 1.4 million euros and making up 3.1% of the Group's operating expenses and 3.0% of revenue. Administrative expenses decreased by 0.1 million euros to 2.6 million euros, when comparing the first quarters, making up 5.9% of the Group's operating expenses and 5.7% of the revenue of the reporting quarter. In a quarterly comparison, labour costs increased by 9.2%, amounting to 9.5 million euros. The majority of the increase in labour costs originates from staff growth, and the growth in average wages was influenced by wage pressure from the overall economy. The gross profit for the first quarter was 5,386 (2022 Q1: 2,986) thousand euros and the gross profit margin was 11.9% (2022 Q1: 8.0%). Operating profit (EBIT) was 1,309 (2022 Q1: operating loss 1,125) thousand euros. The operating margin of the reporting quarter was 2.9% (2022 Q1: -3.0%). The net profit for the reporting quarter was 749 (2022 Q1: net loss 1,294) thousand euros, of which the share of the owners of the parent company was 781 (2022 Q1: net loss 1,308) thousand euros. Net profit per share in the first quarter was 0.04 euros, a year earlier the net loss per share was -0.07 euros. Core business and markets During the reporting quarter, the Group's core activity - production - accounted for 94.1% of its revenue. The revenue of the production segment increased by 30.1% in the reporting quarter, being 42.6 million euros. In the reporting quarter, 5.0 (2022 Q1: 6.9) million euros were earned from Estonia, making up 10.9% (2022 Q1: 18.5%) of the revenue. The revenue to the Estonian market decreased by 1.9 million euros, and this is mainly related to the termination of the retail and project-based sale of electrical products in Estonia. In the reporting quarter, the revenue earned from the Finnish market was 11.6% more than a year before, totalling 18.6 (2022 Q1: 16.7) million euros. The majority of the increase in revenue came from the sale of automation equipment and low-voltage switchgears to key customers and from the growth of orders for car heating and charging equipment and solar panel systems. In addition, the volume of electrical works in the Finnish shipbuilding sector increased. During the reporting quarter, 41.2% (2022 Q1: 44.7%) of Harju Elekter products and services were sold to the Group's largest market. The revenue of the Swedish market increased by 11.1% in the comparison of first quarters due to the increase in sale of substations and the growth of project business, being 6.5 (2022 Q1: 5.8) million euros. Sweden accounted for 14.3% (2022 Q1: 15.6%) of the revenue of the reporting quarter. Revenue from the Norwegian market decreased compared to the previous year, being 4.0 (2022 Q1: 4.5) million euros. The Norwegian market accounted for 8.9% (2022 Q1: 12.1%) of the revenue of the reporting quarter. Investments During the reporting period, the Group invested a total of 0.6 (2022 Q1: 1.5) million euros in non-current assets, incl 0.3 (2022 Q1: 1.0) million euros in investment properties, 0.2 (2022 Q1: 0.4) million euros in property, plant, and equipment and 0.1 (2022 Q1: 0.1) million euros in intangible assets. Investments were mostly made in production technology equipment, production, and process management systems. The value of the Group's non-current financial investments totalled 23.8 (31.12.22: 23.7) million euros as of the reporting date. Share The company's share price on the last trading day of the reporting quarter on the Nasdaq Tallinn Stock Exchange closed at 5.0 euros. As of 31 March 2023, AS Harju Elekter had 11,232 shareholders. The number of shareholders increased during the reporting quarter by 648 members. CONSOLIDATED STATEMENT OF FINANCIAL POSITION Unaudited ------------------------------------------------------------------------------ EUR '000 31.03.2023 31.12.2022 31.03.2022 ------------------------------------------------------------------------------ ASSETS Current assets Cash and cash equivalents 1,028 9,152 286 Trade and other receivables 37,627 31,612 35,663 Prepayments 1,945 1,126 3,119 Inventories 44,704 37,068 37,692 Total current assets 85,304 79,958 76,760 ------------------------------------------------------------------------------ Non-current assets Deferred income tax assets 1,002 1,008 776 Non-current financial investments 23,767 23,731 24,410 Investment properties 24,766 24,756 24,603 Property, plant, and equipment 35 042 35 740 26,303 Intangible assets 7,284 7,244 7,659 Total non-current assets 91,861 92,479 83,751 ------------------------------------------------------------------------------ TOTAL ASSETS 177,165 171,437 160,511 ------------------------------------------------------------------------------ LIABILITIES AND EQUITY Liabilities Borrowings 18,366 24,385 21,354 Prepayments from customers 21,310 16,827 6,681 Trade and other payables 31,888 24,502 31,063 Tax liabilities 3,033 3,478 3,663 Current provisions 1,950 2,103 51 Total current liabilities 76,547 71,295 62,812 ------------------------------------------------------------------------------ Borrowings 20,412 20,732 12,401 Other non-current liabilities 0 0 33 Total non-current liabilities 20,412 20,732 12,434 ------------------------------------------------------------------------------ TOTAL LIABILITIES 96,959 92,027 75,246 ------------------------------------------------------------------------------ Equity Share capital 11,523 11,523 11,352 Share premium 2,509 2,509 1,601 Reserves 17,815 17,768 18,278 Retained earnings 48,552 47,771 54,158 Total equity attributable to the owners of the parent company 80,399 79,571 85,389 Non-controlling interests -193 -161 -124 Total equity 80,206 79,410 85,265 ------------------------------------------------------------------------------ TOTAL LIABILITIES AND EQUITY 177,165 171,437 160,511 ------------------------------------------------------------------------------ CONSOLIDATED STATEMENT OF PROFIT AND LOSS Unaudited ----------------------------------------------------------- EUR '000 3M 3M 2023 2022 ----------------------------------------------------------- Revenue 45,269 37,321 Cost of sales -39,883 -34,335 Gross profit 5,386 2,986 Distribution costs - 1,356 - 1,350 Administrative expenses -2,580 -2,655 Other income 18 56 Other expenses -159 -152 Operating profit/loss (-) 1,309 -1,125 Finance income 75 39 Finance costs -549 -119 Profit/loss (-) before tax 835 -1,205 Income tax -86 -89 Profit/loss (-) for the period 749 -1,294 ----------------------------------------------------------- Profit /loss (-) attributable to: Owners of the parent company 781 -1,308 Non-controlling interests -32 14 ----------------------------------------------------------- Earnings per share Basic earnings per share (euros) 0.04 -0.07 Diluted earnings per share (euros) 0.04 -0.07 ----------------------------------------------------------- CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Unaudited --------------------------------------------------------------------------- EUR '000 3M 3M 2023 2022 --------------------------------------------------------------------------- Profit/loss (-) for the period 749 -1,294 Other comprehensive income (loss) Items that may be reclassified to profit or loss Impact of exchange rate changes of a foreign subsidiaries -41 20 Items that will not be reclassified to profit or loss Gain on sales of financial assets 0 151 Net gain/loss (-) on revaluation of financial assets 36 -521 Total comprehensive income (loss) for the period -5 -350 Other comprehensive income (loss) 744 -1,644 --------------------------------------------------------------------------- Total comprehensive income (loss) attributable to: Owners of the Company 776 -1,658 Non-controlling interests -32 14 --------------------------------------------------------------------------- Priit Treial CFO and Member of the Management Board +372 674 7400