Börsiteade
Nordic Fibreboard AS
LEI kood
54930002HOIXBD15OM06
Emitendi suuruskategooria
Väikekontsern
Majandustegevusalad
Finants- ja kindlustustegevus
Emitendi registreeritud asukoht
Eesti
Üldandmed
Kategooriad
Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
Teate ID
11194
Manused
Esitamise kuupäev ja aeg
10.05.2024 17:00:56
Teate sisu eesti keeles
Pealkiri
Nordic Fibreboard AS 2024. aasta I kvartali auditeerimata majandustulemused
Teade
JUHTKONNA ARUANNE
Nordic Fibreboard AS konsolideeritud müügitulu oli 2024. aasta 1. kvartalis
1,97 miljonit eurot, mis oli 24% langust võrreldes eelmise aasta sama perioodiga
(2023. aasta 1. kvartalis 2,60 miljonit eurot). Kontserni peamine tegevusala on
puitkiudplaadi tootmine ja hulgimüük, mille müügitulu 2024. aasta 1. kvartalis
oli 1,95 miljonit eurot (2023. aasta 1. kvartalis 2,59 miljonit eurot).
Ülejäänud segmendiks on Pärnus Suur-Jõe tänaval oleva kinnisvara haldamine,
mille müügitulu 2024. aasta 1. kvartalis oli 0,01 miljonit eurot (2023. aasta 1
kvartalis samuti 0,01 miljonit eurot).
Puitkiudplaatide peamiseks müügitulu languse põhjuseks (2023. aasta 1. kvartal
võrreldes 2024. aasta 1. kvartaliga) on tarnete lõppemine Taani suurkliendile
(tarned lõppesid 2023. aasta juunis). 2024. aasta 1 kvartali lõpuks lisandunud
uued kliendid on asendanud 40% 2023 aasta 1. kvartali Taani suurkliendi
müügitulust. Ettevõtte peamine fookus on jätkuvalt uute klientide leidmisel,
eesmärgiga laiendad kliendiportfelli ja leida uusi ärisuundi.
Nordic Fibreboard AS konsolideeritud EBITDA oli 2024. aasta 1. kvartalis
positiivne 53 tuhat eurot (2023. aasta 1. kvartalis negatiivne 94 tuhat eurot).
EBITDA marginaal oli 2024. aasta 1. kvartalis 3% ning 2023. aasta 1. kvartalis
(4%). Kontserni brutomarginaal tõusis 2023. aasta 1. kvartali 11%-lt 2024. aasta
1. kvartalis 19%-le, brutomarginaali tõusu peamiseks põhjuseks oli ettevõtte
sisendkulude hindade odavnemine.
Nordic Fibreboard AS konsolideeritud ärikahjum oli 2024. aasta 1. kvartalis 75
tuhat eurot, (2023. aasta 1. kvartalis ärikahjum 623 tuhat eurot, mis sisaldas
elektri tagasimüügist saadud ühekordset erakorralist kahjumit).
Kontserni 2024. aasta 1. kvartali konsolideeritud puhaskahjum oli 73 tuhat eurot
(2023 1 kv: puhaskahjum 597 tuhat eurot). 2024. aasta 1 kvartali puhaskahjum
sisaldas Nordic Fibreboard Ltd-le kuuluvatelt Trigon Property Development AS
(TPD) aktsiate ümberhindlusest saadud kasumit summas 56 tuhat eurot (2023. aasta
1. kvartalis saadi TPD aktsiate ümberhindlusest kasumit 74 tuhat eurot).
ÄRIVALDKONDADE ÜLEVAADE
Müügitulu ärisegmentide lõikes
tuh EUR I kv 2024 | I kv 2023
------------------------------------------+-----------
Kiudplaadi tootmine ja müük 1 949 | 2 585
------------------------------------------+-----------
Kinnisvara haldamine 12 | 12
------------------------------------------+-----------
KOKKU 1 961 | 2 597
Kasum ärisegmentide lõikes
tuh EUR I kv 2024 | I kv 2023
-----------------------------------------------+-----------
EBITDA ärisegmentide lõikes |
-----------------------------------------------+-----------
Kiudplaadi tootmine ja müük 62 | (76)
-----------------------------------------------+-----------
Kinnisvara haldamine (11) | (13)
-----------------------------------------------+-----------
Elimineerimine 2 | (5)
-----------------------------------------------+-----------
Kokku EBITDA 53 | (94)
-----------------------------------------------+-----------
Põhivara kulum ja amortisatsioon (128) | (123)
-----------------------------------------------+-----------
Erakorraline muu ärikulu 0 | (406)*
-----------------------------------------------+-----------
Kokku ÄRIKASUM/-KAHJUM (75) | (623)
-----------------------------------------------+-----------
Neto finantskulud 2 | 26
-----------------------------------------------+-----------
PUHASKASUM/-KAHJUM (73) | (597)
* koosneb ühekordsest kahjumist elektrienergia tagasimüügist elektriettevõttele.
NORDIC FIBREBOARD LTD: kiudplaadi tootmine ja müük
Puitkiudplaadi müügitulu 2024. aasta 1. kvartalis oli 1,95 miljonit eurot (2023.
aasta 1. kvartalis 2,59 miljonit eurot. Peamiseks müügitulu languse põhjuseks
2024. aasta 1. kvartalis, võrreldes 2023. aasta 1. kvartaliga, oli tarnete
lõpetamine Taani suurkliendile 2023. aasta juunikuus. 2023. aasta 1. kvartalis
oli müük Taani suurkliendile 32% kogumüügist. Müük Eestisse vähenes 2024. aasta
1. kvaratlis võrreldes eelmise aasta sama perioodiga 22% ning müük Lätti vähenes
18%, samal ajal müük teistesse Euroopa Liidu riikidesse kasvas 107% ning taastus
müük Aafrika klientidele.
Nordic Fibreboard Ltd OÜ 2024. aasta 1. kvartali EBITDA oli positiivne 62 tuhat
eurot (2023. aasta 1. kvartalis negatiivne 76 tuhat eurot). EBITDA tõus oli
tingitud sisendkulude vähenemisest, mis omakorda vähendas proportsionaalselt
tootmise omahinda.
KIUDPLAADI MÜÜGITULU GEOGRAAFILISELT
tuh EUR I kv 2024 | I kv 2023
---------------------------+-----------
Euroopa Liit 1 692 | 2 455
---------------------------+-----------
Aafrika 167 | 53
---------------------------+-----------
Aasia 61 | 31
---------------------------+-----------
Lähis-Ida 15 | 0
---------------------------+-----------
Teised 14 | 46
---------------------------+-----------
Kokku 1 949 | 2 585
PÄRNU RIVERSIDE DEVELOPMENT: kinnisvarahaldus
Pärnu Riverside Development OÜ omab kinnisvara Pärnu linnas asukohaga Suur-Jõe
tänav 48. Kinnisvaraobjektil on mõned üürnikud ning kinnisvarahaldusest saadud
renditulu oli 2024. aasta 1. kvartalis 12 tuhat eurot (2023 1. kv: samuti 12
tuhat eurot).
Kinnisvarahalduse 2024. aasta 1. kvartali EBITDA oli negatiivne 11 tuhat eurot
(2023 1.kv: negatiivne 13 tuhat eurot).
TULEVIKU VÄLJAVAADE
NORDIC FIBREBOARD LTD
Ehitusmaterjalide turg ja tööstussektor on endiselt keerulises seisus ning
üldised prognoosid aastaks 2024 turu kiiret taastumist ei näita. Kuigi turul on
näha mõningasi elavnemise märke, on mahtude kasv endiselt tagasihoidlik.
Nordic Fibreboard AS on välja töötamas äriarenduse strateegiat, mille toel on
plaan pikas perspektiivis laiendada ettevõte väärtuspakkumist mitte ainult
ehitusturul vaid läbi strateegilise tegevuse juurde võita turuosa ka uutel
ärisuundadel. Ettevõte on kaardistamas vajadusi nii meeskonna kui teiste
toetavate resursside arendamiseks, et toetada oma pikaajalist äriarenduse
strateegia elluviimist ning seatud eesmärkide saavutamist milleks on
tootmismahtude tõus ning ettevõtte väärtuspakkumise pidev arendus. Ettevõte
jätkab aktiivset panustamist tootearendusse, tagamaks oma tegevuse
jätkusuutlikkust ja kasvu turul. Töös ja plaanis on mitmed olulised
tootearenduse projektid, mis laiendaksid tootevalikut ja suurendaksid meie
toodete kasutusvaldkonda, võimaldades seeläbi laiendada kliendiportfelli.
PÄRNU RIVERSIDE DEVELOPMENT
Jätkatakse Pärnus Suur-Jõe tn 48 oleva kinnisvara haldamist ja arendamist.
Valminud on kinnistu detailplaneering, eesmärgiga arendada kinnistu elamumaaks.
FINANTSSUHTARVUD
tuh EUR
| |
Kasumiaruanne | I kv 2024 | I kv 2023
-------------------------------------------+------------+------------
Müügitulu | 1 961 | 2 597
-------------------------------------------+------------+------------
EBITDA | 53 | (94)
-------------------------------------------+------------+------------
EBITDA rentaablus | 3% | (4%)
-------------------------------------------+------------+------------
Ärikasum/-kahjum | (75) | (623)
-------------------------------------------+------------+------------
Ärirentaablus | (4%) | (24%)
-------------------------------------------+------------+------------
Puhaskasum/-kahjum | (73) | (597)
-------------------------------------------+------------+------------
Puhasrentaablus | (4%) | (23%)
| |
| |
Bilanss | 31.03.2024 | 31.03.2023
-------------------------------------------+------------+------------
Koguvarad | 9 090 | 9 368
-------------------------------------------+------------+------------
Koguvarade puhasrentaablus | (1%) | (6%)
-------------------------------------------+------------+------------
Omakapital | 4 329 | 4 487
-------------------------------------------+------------+------------
Omakapitali puhasrentaablus | (2%) | (13%)
-------------------------------------------+------------+------------
Võlakordaja | 52% | 52%
| |
| |
Aktsia | 31.03.2024 | 31.03.2023
-------------------------------------------+------------+------------
Aktsia viimane hind (EUR)* | 0,79 | 1,52
-------------------------------------------+------------+------------
Puhaskasum aktsia kohta (EUR) | (0,04) | 0,11
-------------------------------------------+------------+------------
Hind-tulu (PE) suhtarv | (22,57) | 14,05
-------------------------------------------+------------+------------
Aktsia raamatupidamisväärtus (EUR) | 0,96 | 1,00
-------------------------------------------+------------+------------
Turuhinna ja raamatupidamisväärtuse suhe | 0,82 | 1,52
-------------------------------------------+------------+------------
Turukapitalisatsioon tuh EUR | 3 554 | 6 816
-------------------------------------------+------------+------------
Aktsiate arv tk | 4 499 061 | 4 499 061
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
tuh EUR |31.03.2024|31.12.2023|31.03.2023|31.12.2022
-----------------------------------+----------+----------+----------+----------
Raha ja raha ekvivalendid | 6| 7| 47| 2
-----------------------------------+----------+----------+----------+----------
Nõuded ja ettemaksed (Lisa 2) | 1 082| 534| 1 272| 559
-----------------------------------+----------+----------+----------+----------
Varud (Lisa 3) | 749| 728| 842| 1 672
-----------------------------------+----------+----------+----------+----------
Kokku käibevarad | 1 837| 1 269| 2 161| 2 233
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Kinnisvarainvesteeringud (Lisa 4) | 2 269| 2 269| 1 859| 1 859
-----------------------------------+----------+----------+----------+----------
Finantsvarad õiglases väärtuses | | | |
muutustega läbi kasumiaruande | | | |
(Lisa 7) | 547| 491| 718| 644
-----------------------------------+----------+----------+----------+----------
Materiaalne põhivara (Lisa 5) | 4 436| 4 475| 4 628| 4 670
-----------------------------------+----------+----------+----------+----------
Immateriaalne põhivara (Lisa 6) | 1| 1| 2| 2
-----------------------------------+----------+----------+----------+----------
Kokku põhivarad | 7 253| 7 236| 7 207| 7 175
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Kokku varad | 9 090| 8 505| 9 368| 9 408
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Võlakohustised (Lisa 8) | 654| 556| 477| 290
-----------------------------------+----------+----------+----------+----------
Võlad ja ettemaksed (Lisa 9) | 1 322| 756| 1 617| 1 014
-----------------------------------+----------+----------+----------+----------
Lühiajalised eraldised (Lisa 10) | 15| 21| 13| 18
-----------------------------------+----------+----------+----------+----------
Kokku lühiajalised kohustised | 1 991| 1 333| 2 107| 1 322
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Pikaajalised võlakohustised (Lisa | | | |
8) | 2 659| 2 659| 2 647| 2 875
-----------------------------------+----------+----------+----------+----------
Pikaajalised eraldised (Lisa 10) | 111| 111| 127| 127
-----------------------------------+----------+----------+----------+----------
Kokku pikaajalised kohustised | 2 770| 2 770| 2 774| 3 002
-----------------------------------+----------+----------+----------+----------
Kokku kohustised | 4 761| 4 103| 4 881| 4 324
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Aktsiakapital (nominaalväärtuses) | | | |
(Lisa 11) | 450| 450| 450| 450
-----------------------------------+----------+----------+----------+----------
Kohustuslik reservkapital | 45| 45| 45| 45
-----------------------------------+----------+----------+----------+----------
Jaotamata kasum (kahjum) | 3 834| 3 907| 3 992| 4 590
-----------------------------------+----------+----------+----------+----------
Kokku omakapital | 4 329| 4 402| 4 487| 5 084
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Kokku kohustised ja omakapital | 9 090| 8 505| 9 368| 9 408
Konsolideeritud kasumi- ja muu koondkasumiaruanne
tuh EUR |I kv 2024|I kv 2023
-------------------------------------------------------+---------+---------
Müügitulu (Lisa 13) | 1 961| 2 597
-------------------------------------------------------+---------+---------
Müüdud toodangu kulu (Lisa 14) | 1 713| 2 435
-------------------------------------------------------+---------+---------
Brutokasum | 248| 162
-------------------------------------------------------+---------+---------
| |
-------------------------------------------------------+---------+---------
Turustuskulud (Lisa 15) | 226| 233
-------------------------------------------------------+---------+---------
Üldhalduskulud (Lisa 16) | 97| 139
-------------------------------------------------------+---------+---------
Muud äritulud (Lisa 18) | 0| 0
-------------------------------------------------------+---------+---------
Muud ärikulud (Lisa 18) | 0| 413
-------------------------------------------------------+---------+---------
Ärikasum (-kahjum) | (75)| (623)
-------------------------------------------------------+---------+---------
| |
-------------------------------------------------------+---------+---------
Finantstulud (Lisa 19) | 56| 74
-------------------------------------------------------+---------+---------
Finantskulud (Lisa 19) | 54| 48
-------------------------------------------------------+---------+---------
KASUM (-KAHJUM) ENNE TULUMAKSUSTAMIST | (73)| (597)
-------------------------------------------------------+---------+---------
| |
-------------------------------------------------------+---------+---------
ARUANDEPERIOODI PUHASKASUM (-KAHJUM) | (73)| (597)
-------------------------------------------------------+---------+---------
| |
-------------------------------------------------------+---------+---------
Tava perioodi puhaskahjum aktsia kohta (Lisa 12) | (0,02)| (0,13)
-------------------------------------------------------+---------+---------
Lahustatud perioodi puhaskahjum aktsia kohta (Lisa 12)| (0,02)| (0,13)
Konsolideeritud rahavoogude aruanne
tuh EUR |1 kv 2024|1 kv 2023
----------------------------------------------------------+---------+---------
Äritegevuse rahavood | |
----------------------------------------------------------+---------+---------
Ärikasum (-kahjum) | (75)| (623)
----------------------------------------------------------+---------+---------
Korrigeerimised: | |
----------------------------------------------------------+---------+---------
Kulum (Lisad 5; 6) | 128| 122
----------------------------------------------------------+---------+---------
Nõuete ja ettemaksete muutus (Lisa 2) | (548)| (713)
----------------------------------------------------------+---------+---------
Varude muutus (Lisa 3) | (21)| 830
----------------------------------------------------------+---------+---------
Äritegevusega seotud kohustiste muutus (Lisa 9) | 566| 603
----------------------------------------------------------+---------+---------
Eraldiste muutus (Lisa 10) | (5)| (5)
----------------------------------------------------------+---------+---------
| |
----------------------------------------------------------+---------+---------
Äritegevusega genereeritud rahavood | 45| 214
----------------------------------------------------------+---------+---------
Intressimaksed (Lisa 19) | (51)| (47)
----------------------------------------------------------+---------+---------
Muud finantstulud ja -kulud | (3)| (1)
----------------------------------------------------------+---------+---------
Äritegevuse rahavood kokku | (9)| 166
----------------------------------------------------------+---------+---------
| |
----------------------------------------------------------+---------+---------
Investeerimistegevuse rahavood | |
----------------------------------------------------------+---------+---------
Materiaalse ja immateriaalse põhivara soetus (Lisad 5; 6)| (90)| (80)
----------------------------------------------------------+---------+---------
Investeerimistegevuse rahavood kokku | (90)| (80)
----------------------------------------------------------+---------+---------
| |
----------------------------------------------------------+---------+---------
Finantseerimistegevuse rahavood | |
----------------------------------------------------------+---------+---------
Saadud laenude tagasimaksed (Lisa 8) | (52)| (254)
----------------------------------------------------------+---------+---------
Saadud laenud seotud osapooltelt (Lisa 8) | 0| 200
----------------------------------------------------------+---------+---------
Arvelduskrediidi muutus (Lisa 8) | 155| 25
----------------------------------------------------------+---------+---------
Rendikohustiste põhiosa tagasimaksed (Lisa 8) | (5)| (12)
----------------------------------------------------------+---------+---------
Finantseerimistegevuse rahavood kokku | 98| (41)
----------------------------------------------------------+---------+---------
| |
----------------------------------------------------------+---------+---------
RAHA RAHA EKVIVALENTIDE MUUTUS | (1)| 45
----------------------------------------------------------+---------+---------
RAHA JA RAHA EKVIVALENDID PERIOODI ALGUSES | 7| 2
----------------------------------------------------------+---------+---------
RAHA JA RAHA EKVIVALENDID PERIOODI LÕPUS | 6| 47
Enel Äkke
Juhatuse liige
+372 55525550
[email protected]
(https://www.globenewswire.com/Tracker?data=yzPJanxbe_K5tHN8LCU4yD3NucD7DXo5GLer
Ge8WNd_newLdqOR5SMha4MYRWVRGnT0m1lnvuwIeennf1j8B7NZTSxzkLJCEAlOg2T5Fl9H4gVvoncws
6JqzZ6Us-fkp)
Teate sisu inglise keeles
Pealkiri
Unaudited financial report of Nordic Fibreboard AS for the first quarter of 2024
Teade
Management report
Consolidated net sales for Q1 2024 were EUR 1.97 million, which was a 24% decrease
compared to the same period last year (Q1 2023: EUR 2.60 million). The main
business area is the production and wholesale of fibreboard, which recorded
sales in Q1 2024 of EUR 1.95 million (Q1 2023: EUR 2.60 million). The remaining
business area is real estate management of the property owned in Suur-Jõe street
in Pärnu, who recorded sales of EUR 0.01 million in Q1 2024 (Q1 2023: also EUR 0.01
million).
The main reason for the decrease in sales revenue of fiberboard (comparing the
Q1 2023 to the Q1 2024) was the termination of supplies to the major customer in
Denmark (supplies ended in June 2023). By the end of the Q1 2024, new customers
added have replaced 40% of the sales revenue generated by the major Danish
customer in the Q1 2023. The company's primary focus remains on finding new
customers, with the goal of expanding its customer portfolio and discovering new
business directions.
The consolidated EBITDA of Nordic Fibreboard AS for Q1 2024 was positive EUR 53
thousand (Q1 2024: negative EUR 94 thousand). EBITDA margin was positive 3% in Q1
2024 (Q1 2023: negative 4%). The Group's gross margin increased from 11% for Q1
2023 to 19% in Q1 2023, the main reason for the increase in the gross margin was
the decrease in the prices of the company's input costs.
The consolidated operating loss of Nordic Fibreboard AS for Q1 2024 was EUR 75
thousand, (Q1 2023: operating profit EUR 623 thousand, which includes the one-time
extraordinary loss from the resale of electricity).
Group`s consolidated net loss therefore for Q1 2024 was EUR 73 thousand (Q1 2023:
loss EUR 597 thousand). The net loss for the Q1 2024 included the profit from the
revaluation of the shares of Trigon Property Development AS (TPD) owned by
Nordic Fibreboard Ltd in the amount of EUR 56 thousand (Q1 2023, the profit from
the revaluation of the TPD shares was EUR 74 thousand).
DIVISIONAL REVIEW
Revenue by business segments
EUR thousand Q1 2024 | Q1 2023
---------------------------------------------+---------
Fibreboards production and sales 1,949 | 2,585
---------------------------------------------+---------
Real Estate Management 12 | 12
---------------------------------------------+---------
TOTAL 1,961 | 2,597
Profit by business segments
EUR thousand Q1 2024 | Q1 2023
--------------------------------------------------+---------
EBITDA by business units: |
--------------------------------------------------+---------
Fibreboards production and sales 62 | (76)
--------------------------------------------------+---------
Real Estate Management (11) | (13)
--------------------------------------------------+---------
Group transactions 2 | (5)
--------------------------------------------------+---------
TOTAL EBITDA 53 | (94)
--------------------------------------------------+---------
Depreciation (128) | (123)
--------------------------------------------------+---------
Extraordinary other operating expense 0 | (403)*
--------------------------------------------------+---------
TOTAL OPERATING PROFIT/ LOSS (75) | (623)
--------------------------------------------------+---------
Net financial costs 2 | 26
--------------------------------------------------+---------
NET PROFIT/ LOSS (73) | (597)
* consists of the one-time loss received from the resale of electricity to the
electricity company.
NORDIC FIBREBOARD LTD: Fibreboard productions and sales
Fibreboard sales for Q1 2024 were EUR 1.95 million (Q1 2023: EUR 2.59 thousand). The
main reason for the decrease in sales revenue in the Q1 2024, compared to the Q1
2023, was the termination of deliveries to a major customer in Denmark in the
month of June 2023. In Q1 2023, sales to Denmark customer accounted for 32% of
total sales. Sales to Estonia decreased by 22% in the Q1 2024 compared to the
same period last year, and sales to Latvia decreased by 18%, while sales to
other European Union countries increased by 107% and sales to African clients
began to recover.
The consolidated EBITDA of Nordic Fibreboard Ltd OÜ for Q1 2024 was positive EUR
62 thousand (Q1 2023: negative EUR 76 thousand). The increase in EBITDA was due to
a decrease in input costs, which in turn proportionally reduced the cost of
production.
FIBREBOARD SALES BY GEOGRAPHICAL SEGMENTS
EUR thousand Q1 2024 | Q1 2023
---------------------------+---------
European Union 1,692 | 2,455
---------------------------+---------
Africa 167 | 53
---------------------------+---------
Asia 61 | 31
---------------------------+---------
Middle East 15 | 0
---------------------------+---------
Other 14 | 46
---------------------------+---------
TOTAL 1,949 | 2,585
PÄRNU RIVERSIDE DEVELOPMENT: Real estate management
Pärnu Riverside Development owns the property located at Suur-Jõe 48 in Pärnu.
The property has some rental tenants and rental income from real estate
management was EUR 12 thousand in Q1 2024, (Q1 2023: also EUR 12 thousand).
The real estate management EBITDA for Q1 2024 were negative EUR 11 thousand (Q1
2023: negative EUR 13 thousand).
OUTLOOK
NORDIC FIBREBOARD LTD
The construction materials market and industrial sector continue to face
challenges and general forecasts for the year 2024 do not show a rapid recovery
of the market. Although there are some signs of recovery in the market, volume
growth remains modest.
Nordic Fibreboard AS is developing a business development strategy aimed at
expanding the company's value proposition not only in the construction market
but also through strategic activities to gain market share in new business
directions in the long term.
The company is mapping out the needs for both team and other supporting resource
development to support the implementation of its long-term business development
strategy and achieve set goals, which include increasing production volumes and
continuously developing the company's value proposition.
The company continues to actively invest in product development to ensure its
sustainability and growth in the market. Several important product development
projects are in progress or planned, which would expand the product range and
increase the application areas of our products, thereby allowing for the
expansion of the customer portfolio.
PÄRNU RIVERSIDE DEVELOPMENT
We will continue to manage and develop the property on Suur-Jõe Street 48,
Pärnu. A detail plan for the property has been completed, with the intention of
converting the property into a residential property.
FINANCIAL HIGHLIGHTS
EUR thousand
| |
Income statement | Q1 2024 | Q1 2023
-------------------------------------+------------+------------
Revenue | 1,961 | 2,597
-------------------------------------+------------+------------
EBITDA | 53 | (94)
-------------------------------------+------------+------------
EBITDA margin | 3% | (4%)
-------------------------------------+------------+------------
Operating profit | (75) | (623)
-------------------------------------+------------+------------
Operating margin | (4%) | (24%)
-------------------------------------+------------+------------
Net profit | (73) | (597)
-------------------------------------+------------+------------
Net margin | (4%) | (23%)
| |
| |
Statement of financial position | 31.03.2024 | 31.03.2023
-------------------------------------+------------+------------
Total assets | 9,090 | 9,368
-------------------------------------+------------+------------
Return on assets | (1%) | (6%)
-------------------------------------+------------+------------
Equity | 4,329 | 4,487
-------------------------------------+------------+------------
Return on equity | (2%) | (13%)
-------------------------------------+------------+------------
Debt-to-total assets ratio | 52% | 52%
| |
| |
Share | 31.03.2024 | 31.03.2023
-------------------------------------+------------+------------
Last Price (EUR)* | 0.79 | 1.52
-------------------------------------+------------+------------
Earnings per share (EUR) | (0.04) | 0.11
-------------------------------------+------------+------------
Price-earnings ratio | (22.57) | 14.05
-------------------------------------+------------+------------
Book value of a share (EUR) | 0.96 | 1.00
-------------------------------------+------------+------------
Market to book ratio | 0.82 | 1.52
-------------------------------------+------------+------------
Market capitalization (EUR thousand) | 3,554 | 6,816
-------------------------------------+------------+------------
Number of shares (piece) | 4,499,061 | 4,499,061
Consolidated statement of financial positions
EUR thousand |31.03.2024|31.12.2023|31.03.2023|31.12.2022
-----------------------------------+----------+----------+----------+----------
Cash and cash equivalents | 6| 7| 47| 2
-----------------------------------+----------+----------+----------+----------
Receivables and prepayments (Note | | | |
2) | 1,082| 534| 1,272| 559
-----------------------------------+----------+----------+----------+----------
Inventories (Note 3) | 749| 728| 842| 1,672
-----------------------------------+----------+----------+----------+----------
Total current assets | 1,837| 1,269| 2,161| 2,233
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Investment property (Note 4) | 2,269| 2,269| 1,859| 1,859
-----------------------------------+----------+----------+----------+----------
Financial assets at fair value | | | |
through profit or loss (Note 7) | 547| 491| 718| 644
-----------------------------------+----------+----------+----------+----------
Property, plant and equipment | | | |
(Note 5) | 4,436| 4,475| 4,628| 4,670
-----------------------------------+----------+----------+----------+----------
Intangible assets (Note 6) | 1| 1| 2| 2
-----------------------------------+----------+----------+----------+----------
Total non-current assets | 7,253| 7,236| 7,207| 7,175
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
TOTAL ASSETS | 9,090| 8,505| 9,368| 9,408
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Borrowings (Note 8) | 654| 556| 477| 290
-----------------------------------+----------+----------+----------+----------
Payables and prepayments (Note 9) | 1,322| 756| 1,617| 1,014
-----------------------------------+----------+----------+----------+----------
Short-term provisions (Note 10) | 15| 21| 13| 18
-----------------------------------+----------+----------+----------+----------
Total current liabilities | 1,991| 1,333| 2,107| 1,322
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Long-term borrowings (Note 8) | 2,659| 2,659| 2,647| 2,875
-----------------------------------+----------+----------+----------+----------
Long-term provisions (Note 10) | 111| 111| 127| 127
-----------------------------------+----------+----------+----------+----------
Total non-current liabilities | 2,770| 2,770| 2,774| 3,002
-----------------------------------+----------+----------+----------+----------
Total liabilities | 4,761| 4,103| 4,881| 4,324
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Share capital (at nominal value) | | | |
(Note 11) | 450| 450| 450| 450
-----------------------------------+----------+----------+----------+----------
Statutory reserve capital | 45| 45| 45| 45
-----------------------------------+----------+----------+----------+----------
Retained earnings (loss) | 3,834| 3,907| 3,992| 4,590
-----------------------------------+----------+----------+----------+----------
Total equity | 4,329| 4,402| 4,487| 5,084
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
TOTAL LIABILITIES AND EQUITY | 9,090| 8,505| 9,368| 9,408
Consolidated statement of profit or loss and other comprehensive income
EUR thousand | Q1 2024 | Q1 2023
---------------------------------------+---------+---------
Revenue (Note 13) | 1,961 | 2,597
---------------------------------------+---------+---------
Cost of goods sold (Note 14) | 1,713 | 2,435
---------------------------------------+---------+---------
Gross profit | 248 | 162
---------------------------------------+---------+---------
| |
---------------------------------------+---------+---------
Distribution costs (Note 15) | 226 | 233
---------------------------------------+---------+---------
Administrative expenses (Note 16) | 97 | 139
---------------------------------------+---------+---------
Other operating income (Note 18) | 0 | 0
---------------------------------------+---------+---------
Other operating expenses (Note 18) | 0 | 413
---------------------------------------+---------+---------
Operating profit (loss) | (75) | (623)
---------------------------------------+---------+---------
| |
---------------------------------------+---------+---------
Finance income (Note 19) | 56 | 74
---------------------------------------+---------+---------
Finance costs (Note 19) | 54 | 48
---------------------------------------+---------+---------
PROFIT (LOSS) BEFORE INCOME TAX | (73) | (597)
---------------------------------------+---------+---------
| |
---------------------------------------+---------+---------
NET PROFIT (LOSS) FOR THE PERIOD | (73) | (597)
---------------------------------------+---------+---------
| |
---------------------------------------+---------+---------
Basic earnings per share (Note 12) | (0.02) | (0.13)
---------------------------------------+---------+---------
Diluted earnings per share (Note 12) | (0.02) | (0.13)
Consolidated statement of cash flows
EUR thousand |Q1 2024|Q1 2023
---------------------------------------------------------------+-------+-------
Cash flows from operating activities | |
---------------------------------------------------------------+-------+-------
Operating profit (loss) | (75)| (623)
---------------------------------------------------------------+-------+-------
Adjustments: | |
---------------------------------------------------------------+-------+-------
Depreciation charge (Notes 5; 6) | 128| 122
---------------------------------------------------------------+-------+-------
Change in trade and other receivables (Note 2) | (548)| (713)
---------------------------------------------------------------+-------+-------
Change in inventories (Note 3) | (21)| 830
---------------------------------------------------------------+-------+-------
Change in trade and other payables (Note 9) | 566| 603
---------------------------------------------------------------+-------+-------
Change in provisions (Note 10) | (5)| (5)
---------------------------------------------------------------+-------+-------
| |
---------------------------------------------------------------+-------+-------
Cash generated from operations | 45| 214
---------------------------------------------------------------+-------+-------
Interest payments (Note 19) | (51)| (47)
---------------------------------------------------------------+-------+-------
Net other financial income and expense | (3)| (1)
---------------------------------------------------------------+-------+-------
Net cash generated from operating activities | (9)| 166
---------------------------------------------------------------+-------+-------
| |
---------------------------------------------------------------+-------+-------
Cash flows from investing activities | |
---------------------------------------------------------------+-------+-------
Purchase of property, plant and equipment and intangible | |
assets (Notes 5; 6) | (90)| (80)
---------------------------------------------------------------+-------+-------
Net cash used in investing activities | (90)| (80)
---------------------------------------------------------------+-------+-------
| |
---------------------------------------------------------------+-------+-------
Cash flows from financing activities | |
---------------------------------------------------------------+-------+-------
Repayment of loans received (Note 8) | (52)| (254)
---------------------------------------------------------------+-------+-------
Loans received from related parties (Note 8) | 0| 200
---------------------------------------------------------------+-------+-------
Change in overdraft (Note 8) | 155| 25
---------------------------------------------------------------+-------+-------
Repayment of principal element of lease liability (Note 8) | (5)| (12)
---------------------------------------------------------------+-------+-------
Net cash (used in)/from financing activities | 98| (41)
---------------------------------------------------------------+-------+-------
| |
---------------------------------------------------------------+-------+-------
NET CHANGE IN CASH | (1)| 45
---------------------------------------------------------------+-------+-------
OPENING BALANCE OF CASH | 7| 2
---------------------------------------------------------------+-------+-------
CLOSING BALANCE OF CASH | 6| 47
Enel Äkke
Member of Management Board
+372 55525550
[email protected]