Börsiteade
AS Harju Elekter Group
LEI kood
5299009GM96I0NYKWS93
Emitendi suuruskategooria
Suur kontsern
Majandustegevusalad
Kinnisvaraalane tegevus
Sektor(id)
Reitinguagentuur
Emitendi registreeritud asukoht
Eesti
Üldandmed
Kategooriad
Poolaastaaruanne
Teate ID
10497
Manused
Esitamise kuupäev ja aeg
26.07.2023 07:30:00
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Pealkiri
AS-i Harju Elekter Group majandustulemused, 1-6/2023
Teade
Harju Elekter Group jätkas uue strateegiakava elluviimist soovitud tasemel ning näitas 2023. aasta teises kvartalis tugevat kasvutrendi, saavutades rekordilise käibe ja ärikasumi. Tugevat tulemust aitasid kindlustada õnnestunud hinnaläbirääkimised nii raamhangetes kui ka teiste lepingupartneritega. Täiendavalt oleme kasutusele võtnud uued hinnastamismudelid, et paremini maandada muutuvate sisendhindade riske. Ühtlasi on elektriseadmete tootmiseks vajalikud tarneahelad ladusamalt toimima hakanud ning materjalide ja komponentide hinnad kõrgematel hinnatasemetel stabiliseerunud. Kontsern jätkab efektiivsuse parandamist, et kasvatada kasumlikkust. Müügitulu ja finantstulemused Eduka müügi- ning tootmistegevuse tulemusena oli aruandekvartali müügitulu 35,4% enam kui aasta varem, 56,8 miljonit eurot. Kuue kuu müügitulu suurenes võrreldava perioodi suhtes 28,8%, jõudes 102,0 (2022 6k: 79,2) miljoni euroni. Müüdi enam madalpinge jaotusseadmeid, sagedusmuundurkilpe ja tehnilisi hooneid ning realiseerusid suuremad energiasäästlike lahendustega projektid vähese CO²- heitega laevade moderniseerimiseks ning ehituseks. ------------------------------------------------------------------------------- EUR'000 II KV II KV Muutus 6 kuud 6 kuud Muutus 2023 2022 2023 2022 ------------------------------------------------------------------------------- Müügitulu 56 762 41 914 35,4% 102 030 79 235 28,8% Brutokasum 6 611 963 586,5% 11 996 3 949 203,8% Ärikasum (-kahjum) enne kulumit (EBITDA) 3 243 -1 953 266,1% 5 625 -2 022 378,2% Ärikasum (-kahjum) (EBIT) 2 168 -3 048 171,1% 3 477 -4 174 183,3% Perioodi puhaskasum (-kahjum) 884 -3 197 127,7% 1 633 -4 491 136,4% sh emaettevõtte omanike osa 982 -3 209 130,6% 1 763 -4 517 139,0% Puhaskasum (-kahjum) aktsia kohta (eurot) 0,05 -0,18 127,8% 0,10 -0,25 140,0% ------------------------------------------------------------------------------- Aruandekvartali äritegevuse kulud olid kokku 54,2 (2022 II kv: 45,2) miljonit eurot ning esimese poolaasta kulud 98,0 (2022 6k: 83,6) miljonit eurot. Valdava osa äritegevuskulude tõusust andis müüdud toodete ja teenuste kulude kasv, kvartalite võrdluses 22,5% ja kuue kuuga 19,6%. Müüdud toodete ja teenuste kulude kasv jäi mõlemas perioodis oluliselt alla müügitulu kasvutempole, kvartalis 12,9 ja poolaastal 9,2 protsendipunkti võrra. Võrreldavate perioodide suhtes vähenesid kulude optimeerimisega nii turustus- kui ka üldhalduskulud. Turustuskulud olid aruandekvartalis 1,3 (2022 II kv: 1,5) ning üldhalduskulud 2,7 (2022 II kv: 2,8) miljonit eurot. Esimese poolaasta turustuskulud kokku olid 2,7 (2022 6k: 2,9) ning üldhalduskulud 5,3 (2022 6k: 5,4) miljonit eurot. Tööjõukulud kvartalite ja poolaastate võrdluses kasvasid, olles vastavalt 10,7 (2022 II kv: 9,1) ja 20,2 (2022 6k: 17,9) miljonit eurot. Valdava osa tööjõukulude kasvust andis personali juurdekasv ning keskmise töötasu kasvu mõjutas üldisest majanduskasvust sõltuv palgasurve. Aruandekvartali brutokasum oli 6 611 (2022 II kv: 963) tuhat eurot ja brutokasumi marginaaliks kujunes 11,6% (2022 II kv: 2,3%). Ärikasum (EBIT) oli 2 168 (2022 II kv: ärikahjum -3 048) tuhat eurot. Teise kvartali ärirentaabluseks kujunes 3,8% (2022 II kv: -7,3%). Aruandekvartali puhaskasum oli 884 (2022 II kv: puhaskahjum -3 197) tuhat eurot, millest emaettevõtte omanike osa moodustas 982 (2022 II kv: -3 209) tuhat eurot. Puhaskasum aktsia kohta oli teises kvartalis 0,05 (2022 II kv: puhaskahjum aktsia kohta -0,18) eurot. Esimese poolaasta brutokasum oli 11 996 (2022 6k: 3 949) tuhat eurot ja brutokasumi marginaal 11,8% (2022 6k: 5,0%). Kuue kuuga teeniti ärikasumit (EBIT) 3 477 (2022 6k: ärikahjum -4 174) tuhat eurot ning puhaskasumit 1 633 (2022 6k: puhaskahjum -4 491) tuhat eurot. Puhaskasum aktsia kohta oli 0,10 (2022 6k: puhaskahjum aktsia kohta -0,25) eurot. Põhitegevusala ja turud Kontserni põhitegevusala, tootmine, moodustas kontserni aruandekvartali müügitulust 95,1%. Tootmissegmendi müügitulu kasvas kvartalite võrdluses 44,3% ja kuue kuu võrdluses 37,7%, olles vastavalt 54,0 ja 96,6 miljonit eurot. Teises kvartalis teeniti Eestist 5,6 (2022 II kv: 6,9) miljonit eurot, mis on 18,8% vähem kui aasta varem. Kuue kuu võrdluses vähenes samuti müügitulu 23,5%, 10,5 miljoni euroni. Müügitulu vähenemine mõlema perioodi vaates on valdavalt seotud Eesti elektrikaupade projekti- ja jaemüügi müügitegevuse lõppemisega. Soome turu müügitulu oli mõlemate perioodide võrdluses 11% enam kui aasta varem, kokku kvartalis 24,5 ja esimesel poolaastal 43,1 miljonit eurot. Valdava osa müügitulu kasvust andsid automaatikaseadmete ja madalpinge jaotusseadmete müük võtmeklientidele ning autosoojendus- ja laadimisseadmete tellimuste kasv. Kontserni suurimale turule müüdi aruandekvartalis 43,2% (2022 II kv: 52,6%) Harju Elektri toodetest ja teenustest. Rootsi turu müügitulu kasvas alajaamade müügi suurenemise ja projektiäri kasvu toel, olles aruandekvartalis 9,1 (2022 II kv: 3,5) ja poolaasta kokkuvõttes 15,6 (2022 6k: 9,3) miljonit eurot. Rootsi moodustas aruandekvartali müügitulust 16,1% (2022 II kv: 8,3%). Müügitulu Norra turule teises kvartalis mitmekordistus, saavutades kõikide turgude võrdluses suurima müügikasvu. Realiseerusid mitmed pikaajalised projektid võtmeklientidele, võimaldades teenida müügitulu aruandekvartalis 11,5 (2022 II kv: 2,9) ja poolaastas 15,5 (2022 6k: 7,4) miljonit eurot. Norra turg moodustas aruandekvartali müügitulust 20,2% (2022 II kv: 6,9%). Investeeringud Harju Elekter investeeris aruandeperioodil põhivarasse kokku 2,6 (2022 6k: 2,2) miljonit eurot, sealhulgas kinnisvarainvesteeringutesse 2,1 (2022 6k: 1,2) miljonit eurot, materiaalsesse põhivarasse 0,4 (2022 6k: 0,7) miljonit eurot ja immateriaalsesse põhivarasse 0,1 (2022 6k: 0,3) miljonit eurot. Enamus aruandeperioodi investeeringutest suunati Allika Tööstuspargi Reimax Electronics OÜ-le välja renditava tootmishoone ehitusse, mis valmib aasta lõpus. Lisaks investeeriti teistesse kinnisvaraobjektidesse, tootmistehnoloogilisse põhivarasse ning tootmis- ja protsessijuhtimissüsteemidesse. Kontserni pikaajaliste finantsinvesteeringute väärtus oli aruandekuupäeva seisuga kokku 32,6 (31.12.22: 23,7) miljonit eurot. Aruandekvartalis teostatud finantsvara ümberhindlusest kasvas OÜ Skeleton Technologies Group investeeringu hinnanguline õiglane väärtus 8,8 miljoni euro võrra 30,6 miljoni euroni. Aktsia Ettevõtte aktsia sulgus aruandekvartali viimasel kauplemispäeval Nasdaq Tallinna börsil 5,0 euro tasemel. AS-il Harju Elekter Group oli 30.06.2023 seisuga 11 174 aktsionäri. Aruandekvartali jooksul vähenes aktsionäride arv 58 võrra. KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE Auditeerimata ------------------------------------------------------------------------------ EUR '000 30.06.2023 31.12.2022 30.06.2022 ------------------------------------------------------------------------------ VARAD Käibevarad Raha ja raha ekvivalendid 2 339 9 152 629 Nõuded ostjatele ja muud nõuded 38 447 31 612 31 134 Ettemaksed 2 143 1 126 1 729 Varud 46 747 37 068 38 185 Käibevara kokku 89 676 78 958 71 677 ------------------------------------------------------------------------------ Põhivara Edasilükkunud tulumaksu vara 985 1 008 762 Pikaajalised finantsinvesteeringud 32 593 23 731 23 596 Kinnisvarainvesteeringud 26 314 24 756 24 647 Materiaalne põhivara 33 919 35 740 25 794 Immateriaalne põhivara 7 267 7 244 7 711 Põhivara kokku 101 078 92 479 82 510 ------------------------------------------------------------------------------ VARAD KOKKU 190 754 171 437 154 187 ------------------------------------------------------------------------------ KOHUSTUSED JA OMAKAPITAL Kohustused Võlakohustused 20 768 24 385 20 398 Ostjate ettemaksed 18 769 16 827 8 558 Võlad tarnijatele ja muud võlad 32 034 24 502 27 615 Maksuvõlad 4 219 3 478 3 525 Lühiajalised eraldised 1 950 2 103 551 Lühiajalised kohustused kokku 77 770 71 295 60 647 ------------------------------------------------------------------------------ Võlakohustused 23 780 20 732 14 158 Muud pikaajalised kohustused 0 0 33 Pikaajalised kohustused kokku 23 780 20 732 14 191 ------------------------------------------------------------------------------ KOHUSTUSED KOKKU 101 550 92 027 74 838 ------------------------------------------------------------------------------ Omakapital Aktsiakapital 11 523 11 523 11 352 Ülekurss 2 509 2 509 1 601 Reservid 26 843 17 768 17 913 Jaotamata kasum 48 620 47 771 48 595 Emaettevõtte omanikele kuuluv omakapital kokku 89 495 79 571 79 461 Mittekontrolliv osalus -291 -161 -112 Omakapital kokku 89 204 79 410 79 349 ------------------------------------------------------------------------------ KOHUSTUSED JA OMAKAPITAL KOKKU 190 754 171 437 154 187 ------------------------------------------------------------------------------ KONSOLIDEERITUD KASUMIARUANNE Auditeerimata ------------------------------------------------------------------------ EUR '000 II KV II KV 6 kuud 6 kuud 2023 2022 2023 2022 ------------------------------------------------------------------------ Müügitulu 56 762 41 914 102 030 79 235 Müüdud toodete ja teenuste kulud -50 151 -40 951 -90 034 -75 286 Brutokasum 6 611 963 11 996 3 949 Turustuskulud -1 313 -1 515 -2 668 -2 866 Üldhalduskulud -2 711 -2 764 -5 291 -5 429 Muud äritulud 181 322 199 378 Muud ärikulud -600 -54 -759 -206 Ärikasum (-kahjum) 2 168 -3 048 3 477 -4 174 Finantstulud -7 34 68 74 Finantskulud -1 021 -111 -1 570 -230 Kasum (-kahjum) enne maksustamist 1 140 -3 125 1 975 -4 330 Tulumaks -256 -72 -342 -161 Perioodi puhaskasum (-kahjum) 884 -3 197 1 633 -4 491 ------------------------------------------------------------------------ Puhaskasumi (-kahjum) jaotus Emaettevõtte omanike osa puhaskasumist 982 -3 209 1 763 -4 517 Mitte-kontrolliv osa puhaskasumist -98 12 -130 26 ------------------------------------------------------------------------ Puhaskasum (-kahjum) aktsia kohta Tavapuhaskasum aktsia kohta (EUR) 0,05 -0,18 0,10 -0,25 Lahustatud puhaskasum aktsia kohta (EUR) 0,05 -0,18 0,10 -0,25 ------------------------------------------------------------------------ KONSOLIDEERITUD KOONDKASUMIARUANNE Auditeerimata ---------------------------------------------------------------------------- EUR '000 II KV II KV 6 kuud 6 kuud 2023 2022 2023 2022 ---------------------------------------------------------------------------- Perioodi puhaskasum (-kahjum) 884 -3 197 1 633 -4 491 Muu koondkasum (-kahjum) Kirjed, mis hiljem võib klassifitseerida kasumiaruandesse Valuutakursi vahed välisettevõtte ümberarvestusel 164 -86 123 -65 Kirjed, mida hiljem ei klassifitseerita kasumiaruandesse Realiseerunud kasum finantsvara müügist 0 169 0 320 Finantsvara ümberhindluse netokasum/netokahjum (-) 8 830 -336 8 866 -858 Perioodi muu koondkasum (-kahjum) kokku 8 994 -253 8 989 -603 Perioodi koondkasum (-kahjum) kokku 9 878 -3 450 10 622 -5 094 ---------------------------------------------------------------------------- Koondkasumi (-kahjum) jaotus: Emaettevõtte omanike osa koondkasumist 9 976 -3 462 10 752 -5 120 Mitte-kontrolliv osa koondkasumist -32 12 -130 26 ---------------------------------------------------------------------------- Priit Treial Finantsjuht ja juhatuse liige Tel 674 7400
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Harju Elekter Group financial results, 1-6/2023
Teade
Harju Elekter Group continued to implement the new strategic plan at the desired level and showed a strong growth trend in the second quarter of 2023. Last quarter, we achieved a record turnover and operating profit. Successful price negotiations in framework procurements, as well as with other contractors helped to secure a strong result. In addition, we have introduced new pricing models to better mitigate the risks of changing input prices. At the same time, supply chains for the production of electrical equipment have improved, and the prices of materials and components have stabilised at higher price levels. The Group continues to improve efficiency to increase profitability. Revenue and financial results As a result of successful sales and production activities, the revenue in the reporting quarter was 35.4% more than a year earlier, 56.8 million euros. Revenue for the six months increased by 28.8% compared to the comparable period, reaching 102.0 (2022 6M: 79.2) million euros. The Group achieved increased sales of low-voltage switchgears, frequency converters, and e-houses. Additionally, larger projects that involved energy-saving solutions for the modernisation and construction of low-carbon ships were successfully completed. ------------------------------------------------------------------------------- EUR'000 Q2 Q2 +/- 6 M 6 M +/- 2023 2022 2023 2022 ------------------------------------------------------------------------------- Revenue 56,762 41,914 35.4% 102,030 79,235 28.8% Gross profit 6,611 963 586.5% 11,996 3,949 203.8% EBITDA 3,243 -1,953 266.1% 5,625 -2,022 378.2% Operating profit/loss (-) (EBIT) 2,168 -3,048 171.1% 3,477 -4,174 183.3% Profit/loss (-) for the period 884 -3,197 127.7% 1,633 -4,491 136.4% Incl. attributable to owners of the parent company 982 -3,209 130.6% 1,763 -4,517 139.0% Earnings per share (EPS) (euros) 0.05 -0.18 127.8% 0.10 -0.25 140.0% ------------------------------------------------------------------------------- Operating expenses for the reporting quarter totaled 54.2 (2022 Q2: 45.2), and for the first half of the year were 98.0 (2022 6M: 83.6) million euros. The majority of the increase in operating expenses was caused by the increase in the costs of sales, 22.5% year-on-year and 19.6% in six months. The growth of the costs of sales was significantly lower than the growth rate of revenue in both periods, by 12.9 percentage points in the quarter comparison and 9.2 percentage points in the half year comparison. In relation to comparable periods, both distribution and administrative costs were reduced by optimising costs. Distribution costs in the reporting quarter were 1.3 (2022 Q2: 1.5) and administration expenses were 2.7 (2022 Q2: 2.8) million euros. The total distribution costs for the first half of the year were 2.7 (2022 6M: 2.9) and administration expenses were 5.3 (2022 6M: 5.4) million euros. Labour costs also increased in the comparison of quarters and half-years, being 10.7 (2022 Q2: 9.1) and 20.2 (2022 6M: 17.9) million euros, respectively. 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 reporting quarter was 6,611 (2022 Q2: 963) thousand euros and the gross margin was 11.6% (2022 Q2: 2.3%). Operating profit (EBIT) was 2,168 (2022 Q2: operating loss -3,048) thousand euros. The business profitability of the second quarter was 3.8% (2022 Q2: -7.3%). The net profit for the reporting quarter was 884 (2022 Q2: net loss -3,197) thousand euros, of which the share of the owners of the parent company was 982 (2022 Q2: -3,209) thousand euros. Net profit per share in the second quarter was 0.05 (2022 Q2: net loss per share -0.18) euros. The gross profit for the first half of the year was 11,996 (2022 6M: 3,949) thousand euros and the gross margin was 11.8% (2022 6M: 5.0%). During the six months, operating profit (EBIT) was 3,477 (2022 6M: operating loss -4,174) and net profit 1,633 (2022 6M: net loss -4,491) thousand euros. Net profit per share was 0.10 (2022 6M: net loss per share -0.25) euros. Core business and markets During the reporting quarter, the Group's core activity - production - accounted for 95.1% of its revenue. The revenue of the production segment increased by 44.3% in the reporting quarter and 37.7% compared to six months, being 54.0 and 96.6 million euros, respectively. In the second quarter, 5.6 (2022 Q2: 6.9) million euros were earned from Estonia, which was 18.8% less than a year earlier. Compared to six months, the revenue also decreased by 23.5%, to 10.5 million euros. The decrease in revenue in both periods is mostly related to the termination of the retail and project- based sale of electrical products in Estonia. Compared to both periods, the revenue of the Finnish market was 11% more than a year earlier, amounting to 24.5 in the quarter and 43.1 million euros in the first half of the year. 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. During the reporting quarter, 43.2% (2022 Q2: 52.6%) of Harju Elekter products and services were sold to the Group's largest market. The revenue of the Swedish market increased due to the rise in the sale of substations and the growth of project business, being 9.1 (2022 Q2: 3.5) in the reporting quarter and 15.6 (2022 6M: 9.3) million in the half-year. Swedish market accounted for 16.1% (2022 Q2: 8.3%) of the revenue of the reporting quarter. Sales to the Norwegian market in the second quarter multiplied, achieving the largest sales growth across all markets. Several long-term projects were realised for key customers, allowing revenue to be earned in the amount of 11.5 (2022 Q2: 2.9) million euros in the reporting quarter and 15.5 (2022 6M: 7.4) million euros in the half-year. The Norwegian market accounted for 20.2% (2022 Q2: 6.9%) of the revenue of the reporting quarter. Investments During the reporting period, the Group invested a total of 2.6 (2022 6M: 2.2) million euros in non-current assets, incl 2.1 (2022 6M: 1.2) in investment properties, 0.4 (2022 6M: 0.7) in property, plant, and equipment and 0.1 (2022 6M: 0.3) million euros in intangible assets. Most of the investments during the reporting period were made in the construction of the production building to be rented out to Reimax Electronics OÜ in the Allika Industrial Park, scheduled to be completed by the end of the year. In addition, investments were made in other real estate objects, production technology equipment, and production and process management systems. The value of the Group's non-current financial investments totalled 32.6 (31.12.22: 23.7) million euros as of the reporting date. Due to the revaluation of financial assets performed in the reporting quarter, the estimated fair value of OÜ Skeleton Technologies Group's investment increased by 8.8 million euros to 30.6 million euros. 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 30 June 2023, AS Harju Elekter Group had 11,174 shareholders. The number of shareholders decreased during the reporting quarter by 58 members. CONSOLIDATED STATEMENT OF FINANCIAL POSITION Unaudited ------------------------------------------------------------------------------ EUR '000 30.06.2023 31.12.2022 30.06.2022 ------------------------------------------------------------------------------ ASSETS Current assets Cash and cash equivalents 2,339 9,152 629 Trade and other receivables 38,447 31,612 31,134 Prepayments 2,143 1,126 1,729 Inventories 46,747 37,068 38,185 Total current assets 89,676 78,958 71,677 ------------------------------------------------------------------------------ Non-current assets Deferred income tax assets 985 1,008 762 Non-current financial investments 32,593 23,731 23,596 Investment properties 26,314 24,756 24,647 Property, plant, and equipment 33,919 35,740 25,794 Intangible assets 7,267 7,244 7,711 Total non-current assets 101,078 92,479 82,510 ------------------------------------------------------------------------------ TOTAL ASSETS 190,754 171,437 154,187 ------------------------------------------------------------------------------ LIABILITIES AND EQUITY Liabilities Borrowings 20,768 24,385 20,398 Prepayments from customers 18,769 16,827 8,558 Trade and other payables 32,034 24,502 27,615 Tax liabilities 4,219 3,478 3,525 Current provisions 1,950 2,103 551 Total current liabilities 77,770 71,295 60,647 ------------------------------------------------------------------------------ Borrowings 23,780 20,732 14,158 Other non-current liabilities 0 0 33 Total non-current liabilities 23,780 20,732 14,191 ------------------------------------------------------------------------------ TOTAL LIABILITIES 101,550 92,027 74,838 ------------------------------------------------------------------------------ Equity Share capital 11,523 11,523 11,352 Share premium 2,509 2,509 1,601 Reserves 26,843 17,768 17,913 Retained earnings 48,620 47,771 48,595 Total equity attributable to the owners of the parent company 89,495 79,571 79,461 Non-controlling interests -291 -161 -112 Total equity 89,204 79,410 79,349 ------------------------------------------------------------------------------ TOTAL LIABILITIES AND EQUITY 190,754 171,437 154,187 ------------------------------------------------------------------------------ CONSOLIDATED STATEMENT OF PROFIT AND LOSS Unaudited ------------------------------------------------------------------------ EUR '000 Q2 Q2 6M 6M 2023 2022 2023 2022 ------------------------------------------------------------------------ Revenue 56,762 41,914 102,030 79,235 Cost of sales -50,151 -40,951 -90,034 -75,286 Gross profit 6,611 963 11,996 3,949 Distribution costs -1,313 -1,515 -2,668 -2,866 Administrative expenses -2,711 -2,764 -5,291 -5,429 Other income 181 322 199 378 Other expenses -600 -54 -759 -206 Operating profit/loss (-) 2,168 -3,048 3,477 -4,174 Finance income -7 34 68 74 Finance costs -1,021 -111 -1,570 -230 Profit/loss (-) before tax 1,140 -3,125 1,975 -4,330 Income tax -256 -72 -342 -161 Profit/loss (-) for the period 884 -3,197 1,633 -4,491 ------------------------------------------------------------------------ Profit /loss (-) attributable to: Owners of the parent company 982 -3,209 1,763 -4,517 Non-controlling interests -98 12 -130 26 ------------------------------------------------------------------------ Earnings per share Basic earnings per share (euros) 0.05 -0.18 0.10 -0.25 Diluted earnings per share (euros) 0.05 -0.18 0.10 -0.25 ------------------------------------------------------------------------ CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Unaudited ---------------------------------------------------------------------------- EUR '000 Q2 Q2 6M 6M 2023 2022 2023 2022 ---------------------------------------------------------------------------- Profit/loss (-) for the period 884 -3,197 1,633 -4,491 Other comprehensive income (loss) Items that may be reclassified to profit or loss Impact of exchange rate changes of a foreign subsidiaries 164 -86 123 -65 Items that will not be reclassified to profit or loss Gain on sales of financial assets 0 169 0 320 Net gain/loss (-) on revaluation of financial assets 8,830 -336 8,866 -858 Total comprehensive income (loss) for the period 8,994 -253 8,989 -603 Other comprehensive income (loss) 9,878 -3,450 10,622 -5,094 ---------------------------------------------------------------------------- Total comprehensive income (loss) attributable to: Owners of the Company 9,976 -3,462 10,752 -5,120 Non-controlling interests -32 12 -130 26 ---------------------------------------------------------------------------- Priit Treial CFO and Member of the Management Board +372 674 7400