Börsiteade
AS Silvano Fashion Group
Kategooria
Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
Kuupäev
29.02.2008 09:14:09
Pealkiri
SFG: 2007. a neljanda kvartali ja 12 kuu tegevusaruanne
Teade
2007. a neljanda kvartali ja 12 kuu konsolideeritud majandustulemused
2007. a neljandas kvartalis oli ASi Silvano Fashion Group puhaskasum 24,1
miljonit krooni (1,5 miljonit eurot), mis võrreldes eelmise aasta neljanda
kvartaliga suurenes 6,9 miljoni krooni (0,4 miljoni euro) võrra. Selle aasta
neljanda kvartali puhasrentaablus oli 6,6% (2006. a neljandas kvartalis 5,3%).
Neljanda kvartali müügikäive moodustas 365,3 miljonit krooni (23,3 miljonit
eurot) ja kontserni 2007. aasta neljanda kvartali müügikäibe brutorentaablus oli
46,5%, samas kui 2006. aasta neljandas kvartalis oli see 42,1%. Kasumi
tulusiduvus oli 14,9% (2006. aasta neljandas kvartalis 22,3%) ja ärikasum
moodustas 54,5 miljonit krooni (3,5 miljonit eurot); 2006. aasta neljandas
kvartalis oli see 58,8 miljonit krooni (3,8 miljonit eurot).
ASi Silvano Fashion Group kogu müügikäive moodustas 2007. aastal 1 542,4
miljonit krooni (98,6 miljonit eurot), olles 2006. aastaga võrreldes kasvanud
2,6 korda. Kontserni müügikäibe üldine rentaablus ja kasumi tulusiduvus olid
2007. aastal vastavalt 43,6% ja 21,6% (2006. aastal 42,5% ja 20,9%). 2007. aasta
ärikasum oli 333,6 miljonit krooni (21,3 miljonit eurot); 2006. aastal moodustas
ärikasum 88,5 miljonit krooni (5,7 miljonit eurot). 2007. aasta puhaskasum
moodustas 186,9 miljonit krooni (11,9 miljonit eurot) ja puhasrentaablus oli
12,1% (2006. aastal 10,7%).
Ühingu majandustulemuste ja kasumi märkimisväärne kasv on seletatav ASi Silvano
Fashion Group omandamisega PTA Grupp ASi poolt 2006. aastal.
Müügitulu
Müügikäive toodete/teenuste lõikes
Võrreldes 2006. aastaga suurenes 2007. aastal naisterõivastega seotud müügitulu
44,6 miljoni krooni (2,9 miljoni euro) võrra ja moodustas 10,1% kontserni
müügitulust (2006. aastal 26,3%). Pesumüügi käive oli 2007. aastal 1 347,4
miljonit krooni (86,1 miljonit eurot), moodustades 87,4% kontserni kogu
müügitulust. Allhanketeenuste ja muude müükide maht kahanes 2006. aasta sama
perioodiga võrreldes 2,1 miljoni krooni (0,1 miljoni euro) võrra.
Allhanketeenustest ja muudest müükidest saadud tulu moodustas 2007. aastal 39,3
miljonit krooni (2,5 miljonit eurot) ehk 2,5% kogu müügitulust.
Müügikäive ärisegmentide lõikes
--------------------------------------------------------------------------------
| | 2007 | 2006 | Muutu | 2007 | 2006 | Muutu | 2007 | 2006 |
| | EEK | EEK | s | EUR | EUR | s | Osakaa | Osakaa |
| | milj | miljo | EEK | miljo | miljo | EUR | l | l |
| | on | n | miljo | n | n | miljo | käibes | käibes |
| | | | n | | | n | | |
--------------------------------------------------------------------------------
| Naisterõiva | 155, | 111,1 | 44,6 | 10,0 | 7,1 | 2,9 | 10,1% | 26,3% |
| d | 7 | | | | | | | |
--------------------------------------------------------------------------------
| Naistepesu | 1 | 270,2 | 1 | 86,1 | 17,3 | 68,8 | 87,4% | 63,9% |
| | 347, | | 071,2 | | | | | |
| | 4 | | | | | | | |
--------------------------------------------------------------------------------
| Allhanketee | 39,3 | 41,4 | -2,1 | 2,5 | 2,6 | -0,1 | 2,5% | 9,8% |
| nused ja | | | | | | | | |
| muu müük | | | | | | | | |
--------------------------------------------------------------------------------
| Kokku | 1 | 422,7 | 1119, | 98,6 | 27,0 | 71,6 | 100,0% | 100,0% |
| | 542, | | 7 | | | | | |
| | 4 | | | | | | | |
--------------------------------------------------------------------------------
Müügi kogukäive turgude kaupa
Naisterõivad
Põhiliseks naisterõivaste müügi kasvu mõjutajaks oli PTA jaeketi laienemine.
2007 aastal moodustas naisterõivaste jaemüük 76,5% kogu naisterõivastekäibest.
Läbimüük Balti riikides kasvas 22,4% moodustades 111,9 milj krooni (7,2 milj
eurot). Läbimüük Venemaal oli 17,2 milj krooni (1,1 milj eurot) ja Ukrainas 2,6
milj krooni (0,2 milj eurot). Venemaa ja Ukraina turud on PTA rõivakollektsiooni
jaoks uued turud - esimesed kauplused Venemaal avati 2006 aasta lõpus ja esimene
kauplus Ukrainas avati juulis 2007. Läbimüük Soomes kasvas 5 % moodustades 18,7
milj krooni (1,2 milj eurot).
Naistepesu
Suurem osa naistepesu müügitulust 2007. aastal teeniti Venemaa turul (747,9
miljonit krooni (47,8 miljonit eurot), moodustades 68,3% kogu 2007. aasta pesu
läbimüügist). Müük Venemaal hõlmab nii jae- kui ka hulgimüüki. Teine suurem
pesumüügi piirkond on Valgevene, kus läbimüük moodustas 275,4 miljonit krooni
(17,6 miljonit eurot), mis andis 25,1% kogu pesumüügi tulust (sisaldades samuti
nii jae- kui ka hulgimüüki). Kuna naistepesu on kontsernile uus tegevusala, siis
ei ole võimalik anda võrdlusnäitajaid eelmiste perioodide kohta.
Naistepesu tootemarkide hulgas tõi 2007. aasta põhimargi Milavitsa müük 75,7%
kogu naistepesu müügitulust ulatudes 788,6 miljoni kroonini (50,4 miljoni
euroni). Tootemargi Lauma müük moodustas 7,2% kogu naistepesu müügikäibest,
ulatudes 122,0 miljoni kroonini (7,8 miljoni euroni). Teised tootemargid nagu
Alisee, Aveline, Laumelle, Lauma Aqua, Laumelle Aqua ja Bellita andsid 2007.
aastaga kokku 17,1% naistepesu müügi kogukäibest, moodustades 184,6 miljonit
krooni (11,8 miljonit eurot).
--------------------------------------------------------------------------------
| | 2007 | 2006 | Muut | 2007 | 2006 | Muutu | 2007 | 2006 |
| | EEK | EEK | us | EUR | EUR | s | Osakaal | Osakaal |
| | milj | milj | EEK | milj | miljo | EUR | käibes | käibes |
| | on | on | milj | on | n | miljo | | |
| | | | on | | | n | | |
--------------------------------------------------------------------------------
| Eesti | 167, | 96,9 | 70,5 | 10,7 | 6,2 | 4,5 | 10,9% | 22,9% |
| | 4 | | | | | | | |
--------------------------------------------------------------------------------
| Soome | 39,1 | 34,0 | 5,1 | 2,5 | 2,2 | 0,3 | 2,5% | 8,0% |
--------------------------------------------------------------------------------
| Läti | 50,1 | 30,7 | 19,4 | 3,2 | 2,0 | 1,2 | 3,2% | 7,3% |
--------------------------------------------------------------------------------
| Valgev | 278, | 59,9 | 218, | 17,8 | 3,8 | 14,0 | 18,1% | 14,2% |
| ene | 5 | | 6 | | | | | |
--------------------------------------------------------------------------------
| Ukrain | 100, | 18,4 | 81,7 | 6,4 | 1,2 | 5,2 | 6,5% | 4,4% |
| a | 1 | | | | | | | |
--------------------------------------------------------------------------------
| Venema | 766, | 145, | 621, | 49,0 | 9,3 | 39,7 | 49,7% | 34,4% |
| a | 7 | 6 | 1 | | | | | |
--------------------------------------------------------------------------------
| Muud | 140, | 37,2 | 103, | 9,0 | 2,3 | 6,7 | 9,1% | 8,8% |
| turud | 5 | | 3 | | | | | |
--------------------------------------------------------------------------------
| Kokku | 1 | 422, | 1 | 98,6 | 27,0 | 71,6 | 100,0% | 100,0% |
| | 542, | 7 | 119, | | | | | |
| | 4 | | 7 | | | | | |
--------------------------------------------------------------------------------
Jaemüügi käive
Kontserni 2007. aasta jaemüügi kogukäive moodustas 280,1 miljonit krooni (17,9
miljonit eurot), olles 2006. aastaga võrreldes kasvanud 3,4 korda.
Jaemüük toimus Eestis, Lätis, Venemaal, Valgevenes, Poolas, Leedus ja Ukrainas.
2007. aasta lõpu seisuga haldas kontsern 115 jaemüügi kauplust kogupindalaga
12 454 ruutmeetrit.
Naisterõivaste jaemüük toimus Eestis, Lätis, Leedus, Venemaal ja Ukrainas.
2007. aasta lõpu seisuga oli kontsernil 30 naisterõivaste kauplust müügipinnaga
kokku 5 741 ruutmeetrit (2006. aastal 2 688 ruutmeetrit).
Naistepesu jaemüük toimus Venemaal, Valgevenes, Lätis, Leedus ja Poolas.
2007. aasta lõpu seisuga haldas kontsern 84 naistepesu kauplust kogupindalaga 6
713 ruutmeetrit.
2007. aasta jooksul avati 60 uut kauplust: 17 naisterõivaste kauplust, mis
tegutsevad PTA kaubamärgi all (üheksa Venemaal, neli Leedus, üks Eestis ja kolm
Ukrainas), ning 22 naistepesu kauplust, mis tegutsevad Oblicie kaubamärgi all
(20 Venemaal, üks Poolas ja üks Ukrainas). Leedus omandati 16
naistepesukauplust.
Kaupluste arv
31.12.2007 31.12.2006
Eesti 8 7
Läti 6 6
Poola 10 7
Valgevene 23 20
Venemaa 44 15
Leedu 20 -
Ukraina 4 -
Kauplusi kokku 115 55
Müügipind kokku, m2 12 454 6 997
Võrreldes 2006 aastaga on naisterõivaste läbimüük 2007 aastal kasvanud 46%,
moodustades 118,4 milj krooni (7,6 milj eurot). Jaekaubanduse läbimüügi kasvule
aitas kaasa olemasolevate pindade müügitulu kasv ja uute poodide arvu märgatav
suurenemine. Naisterõivaste jaeketi võrreldavate pindade läbimüügi kasv
võrreldes 2006 aastaga on 9%. PTA jaeketi läbimüügi kasv Balti riikides
moodustas 22%. Läbimüügi suurenemist Balti riikides mõjutas PTA jaeketi
laienemine Leedu turule. Venemaa ja Ukraina kohta puuduvad võrreldavad andmed
naisterõivaste müügi kohta, kuna naiste rõivaste segmendis on tegemist uute
turgudega.
Müügikäibe kasv Oblicie naistepesu jaemüügiketi kauplustes, mis on tegutsenud
kauem kui ükse aasta, on ligikaudu 41,0%. Kontserni peamine eesmärk naistepesu
jaemüügis on avada uusi kauplusi Venemaal. Lisaks uutele turgudele suunatud
üldistele hooaja turustuskampaaniatele keskendus turustustegevus kampaaniatele,
mis toetasid laienemist Vene turul.
Kuna naistepesu müük on kontsernile uus tegevusala, siis ei ole võimalik esitada
võrdlusnäitajaid eelmiste perioodide kohta.
Hulgimüük
2007 aasta hulgimüük moodustas 1 223,6 milj krooni (78,2 milj eurot) andes 79,3%
kogu kontserni aastatulust. Peamised kontserni hulgimüügipiirkonnad olid
Venemaa, Ukraina, Balti regioon ja Valgevene ning peamised hulgimüügipiirkonnad
naisterõivaste osas olid Soome ja Balti regioon. Naisterõivaste läbimüük 2007
aastal võrreldes 2006 aasta kogu läbimüügiga kasvas 28,9%, moodustades 43,8 milj
krooni (2,8 milj eurot).
Allhanketeenuste ja muude teenuste müük
Allhanketeenuste ja muude teenuste müügikäive ulatus 39,3 miljoni kroonini (2,5
miljoni euroni) ja kahanes 5% võrreldes 2006. aastaga.
Kasum
Kontserni müügikäibe brutorentaablus oli 2007. aastal 43,6% (2006. aastal
42,5%). 2007. aasta brutokasum oli 671,2 miljonit krooni (42,9 miljonit eurot);
2006. aastal oli brutokasum 179,9 miljonit krooni (11,5 miljonit eurot).
2007. aasta ärikasum moodustas 333,6 miljonit krooni (21,3 miljonit eurot) ja
ärikasumi rentaablus oli 21,6% (2006. aastal 20,9%).2007 aastal suurendas
kontsern osalust tütarettevõttes Milavitsa, mille tulemusena 2007 aasta
raamatupidamises kajastatud äriühendustest saadav tulu kokku moodustas 89,4
milj krooni (5,7 milj eurot).
Kontserni 2007. aasta puhaskasum (pärast maksude ja vähemusosaluse mahaarvamist)
oli 186,9 miljonit krooni (11,9 miljonit eurot). 2007. aasta puhaskasumi
rentaablus oli 12,1%, samas kui eelmise aasta samal perioodil oli see 10,7%.
Bilanss
31. detsembri 2007. aasta seisuga oli varade kogumaht konsolideeritud bilansis
1090 miljonit krooni (69,6 miljonit eurot). Eelmise aasta lõpuga võrreldes
kasvas bilansis olevate varade kogumaht 278,0 miljoni krooni (17,7 miljoni euro)
võrra. Nii varade kui ka kohustuste maht on suurenenud jaemüügi kiire laienemise
ja uute aktsiate emiteerimisest saadud rahaliste vahendite tõttu.
Detsembri lõpu seisuga moodustasid kontserni varud 337,5 miljonit krooni (21,6
miljonit eurot), olles 2006. aasta lõpuga võrreldes suurenenud 107,3 miljoni
krooni (6,9 miljoni euro) võrra. Varude saldo suurenemine on seotud tegevuse
laiendamisega Venemaal ja teistel jaemüügi turgudel.
Nõuded ostjate vastu on suurenenud 46,8 miljoni krooni (3,0 miljoni euro) võrra,
ulatudes 158,5 miljoni kroonini (10,1 miljoni euroni). Ostjate vastu olevate
nõuete saldo on suurem tegevuse laiendamise tõttu, samuti teatud klientidega
sõlmitud lepingutes fikseeritud maksetähtaegade tõttu, mida muudeti selleks, et
säilitada konkurentsivõimet eelkõige SRÜ turgudel.
Võlad hankijatele on võrreldes eelmise aasta lõpuga suurenenud 35,3 miljoni
krooni (2,3 miljoni euro) v��rra, moodustades 122,9 miljonit krooni (7,9 miljonit
eurot). Tarnijatele võlgnetavate summade maht suurenes müügimahtude kasvu ja
kaupluste avamise tõttu.
2007. aasta detsembri lõpu seisuga moodustasid kontserni võlakohustused 25,2
miljonit krooni (1,6 miljonit eurot), olles aasta algusest alates vähenenud 4,7
miljoni krooni (0,3 miljoni euro) võrra.
Investeeringud
2007. aastal oli kontserni investeeringute kogusumma 156,3 miljonit krooni (10,0
miljonit eurot). Kokku 44,3 miljonit krooni (2,8 miljonit eurot) investeeriti
jaemüüki, muud investeeringud tehti seadmetesse ja rajatistesse, et säilitada
tõhusat tootmisprotsessi.
Personal
2007. a detsembri lõpu seisuga oli kontsernil 3581 töötajat. Neist 552 on
hõivatud jaemüügitegevuses ja 2243 on hõivatud tootmises. Ülejäänud töötajad on
hõivatud hulgimüügitegevuses ning administratiiv- ja tugifunktsioonide
täitmisega. 2007. aastal oli keskmine töötajate arv 3450.
2007. aasta töötasud moodustasid 293,6 miljonit krooni (18,8 miljonit eurot).
Juhatusele ja nõukogu liikmetele makstud tasud moodustasid 1,8 miljonit krooni
(0,1 miljonit eurot).
Mõned finantsnäitajad 2007. aasta kohta
--------------------------------------------------------------------------------
| Põhinäitajad ja suhtarvud | 31.12.2007 | 31.12.2006 | Muutus |
--------------------------------------------------------------------------------
| Realiseerimise netokäive (miljonit | 1 542,4 | 422,7 | 1 119,7 |
| krooni) | | | |
--------------------------------------------------------------------------------
| Aktsionäridele omistatav puhaskasum | 186,9 | 45,0 | 141,9 |
| (miljonit krooni) | | | |
--------------------------------------------------------------------------------
| Kasum enne intresse, makse ja | 372,0 | 90,7 | 281,3 |
| amortisatsiooni (EBITDA) (miljonit | | | |
| krooni) | | | |
--------------------------------------------------------------------------------
| Kasum enne intresse ja makse (EBIT) | 333,6 | 79,0 | 254,6 |
| (miljonit krooni) | | | |
--------------------------------------------------------------------------------
| Realiseerimise netokäive (miljonit | 98,6 | 27,0 | 71,6 |
| eurot) | | | |
--------------------------------------------------------------------------------
| Aktsionäridele omistatav puhaskasum | 11,9 | 2,9 | 9,0 |
| (miljonit eurot) | | | |
--------------------------------------------------------------------------------
| Kasum enne intresse, makse ja | 23,8 | 5,8 | 18,0 |
| amortisatsiooni (EBITDA) (miljonit | | | |
| eurot) | | | |
--------------------------------------------------------------------------------
| Kasum enne intresse ja makse (EBIT) | 21,3 | 5,1 | 16,2 |
| (miljonit eurot) | | | |
--------------------------------------------------------------------------------
| Ärirentaablus, % | 21,6% | 18,7% | - |
--------------------------------------------------------------------------------
| Puhasrentaablus, % | 12,1% | 10,6% | - |
--------------------------------------------------------------------------------
| ROA, % | 17,1% | 10,4% | - |
--------------------------------------------------------------------------------
| ROE, % | 21,4% | 19,3% | - |
--------------------------------------------------------------------------------
| Kasum aktsia kohta (EPS), kroonides | 4,81 | 4,08 | - |
--------------------------------------------------------------------------------
| Kasum aktsia kohta (EPS), eurodes | 0,31 | 0,26 | - |
--------------------------------------------------------------------------------
| Lühiajaliste kohustuste kattekordaja | 3,6 | 3,6 | - |
--------------------------------------------------------------------------------
| Likviidsuskordaja | 2,1 | 2,3 | - |
--------------------------------------------------------------------------------
Aluseks võetud valemid
Ärirentaablus = ärikasum / müügitulu
Puhasrentaablus = emaettevõtja aktsionäridele omistatav puhaskasum / müügitulu
ROA (varade tootlus) = emaettevõtja aktsionäridele omistatav
puhaskasum / keskmine varade maht
ROE (omakapitali tootlus) = emaettevõtja aktsionäridele omistatav
puhaskasum / keskmine omakapital
EPS (kasum aktsia kohta) = emaettevõtja aktsionäridele omistatav
puhaskasum / lihtaktsiate kaalutud keskmine arv
Lühiajaliste kohustuste kattekordaja = käibevara / lühiajalised kohustused
Likviidsuskordaja = (käibevara - varud) / lühiajalised kohustused
Bilanss
Konsolideeritud, auditeerimata
--------------------------------------------------------------------------------
| | | 31.12.2 | 31.12.2 | 31.12.20 | 31.12.20 |
| | | 007 | 006 | 07 | 06 |
--------------------------------------------------------------------------------
| | | Tuhat | Tuhat | Tuhat | Tuhat |
| | | EEK | EEK | EUR | EUR |
--------------------------------------------------------------------------------
| VARAD | | | | | |
--------------------------------------------------------------------------------
| Käibevara | | | | | |
--------------------------------------------------------------------------------
| Raha ja selle ekvivalendid | | 180 233 | 200 460 | 11 519 | 12 812 |
--------------------------------------------------------------------------------
| Nõuded ostjate vastu | | 158 531 | 111 729 | 10 132 | 7141 |
--------------------------------------------------------------------------------
| Mitmesugused nõuded | | 29 713 | 10 680 | 1899 | 682 |
--------------------------------------------------------------------------------
| Muud nõuded ja ettemaksed | | 51 680 | 34 414 | 3303 | 2200 |
--------------------------------------------------------------------------------
| Maksude ettemaksed | | 24 471 | 31 568 | 1564 | 2017 |
--------------------------------------------------------------------------------
| Varud | | 337 528 | 230 255 | 21 572 | 14 716 |
--------------------------------------------------------------------------------
| Käibevara kokku | | 782 156 | 619 106 | 49 989 | 39 568 |
--------------------------------------------------------------------------------
| Põhivara | | | | | |
--------------------------------------------------------------------------------
| Immateriaalne põhivara | | 27 976 | 16 551 | 1788 | 1058 |
--------------------------------------------------------------------------------
| Materiaalne põhivara | | 246 541 | 172 281 | 15 757 | 11 011 |
--------------------------------------------------------------------------------
| Kapitaliosaluse meetodil | | 876 | 78 | 56 | 5 |
| kajastatavad investeeringud | | | | | |
--------------------------------------------------------------------------------
| Müügivalmis finantsvara | | 8 480 | 1772 | 542 | 113 |
--------------------------------------------------------------------------------
| Kinnisvarainvesteeringud | | 22 954 | 0 | 1467 | |
--------------------------------------------------------------------------------
| Muud nõuded | | 595 | 2349 | 38 | 150 |
--------------------------------------------------------------------------------
| Põhivara kokku | | 307 422 | 193 031 | 19 648 | 12 337 |
--------------------------------------------------------------------------------
| VARAD KOKKU | | 1 089 | 812 137 | 69 637 | 51 905 |
| | | 578 | | | |
--------------------------------------------------------------------------------
| KOHUSTUSED JA OMAKAPITAL | | | | | |
--------------------------------------------------------------------------------
| Lühiajalised kohustused | | | | | |
--------------------------------------------------------------------------------
| Võlakohustused | | 25 160 | 29 907 | 1608 | 1911 |
--------------------------------------------------------------------------------
| Võlad tarnijatele | | 122 888 | 87 534 | 7854 | 5594 |
--------------------------------------------------------------------------------
| Tulumaksuvõlg | | 3 192 | 5976 | 204 | 382 |
--------------------------------------------------------------------------------
| Muud maksuvõlad | | 23 486 | 19 369 | 1501 | 1238 |
--------------------------------------------------------------------------------
| Muud lühiajalised võlad | | 17 430 | 10 366 | 1113 | 663 |
--------------------------------------------------------------------------------
| Eraldised | | 22 462 | 17 461 | 1436 | 1116 |
--------------------------------------------------------------------------------
| Viitvõlad | | 125 | 0 | 8 | 0 |
--------------------------------------------------------------------------------
| Lühiajalised kohustused kokku | | 214 743 | 170 613 | 13 724 | 10 904 |
--------------------------------------------------------------------------------
| Pikaajalised kohustused | | | | | |
--------------------------------------------------------------------------------
| Võlakohustused | | 4 068 | 9 544 | 260 | 610 |
--------------------------------------------------------------------------------
| Muud kohustused | | 360 | 0 | 23 | 0 |
--------------------------------------------------------------------------------
| Eraldised | | 139 | 139 | 9 | 9 |
--------------------------------------------------------------------------------
| Edasilükkunud maksukohustused | | 201 | 201 | 13 | 13 |
--------------------------------------------------------------------------------
| Pikaajalised kohustused kokku | | 4768 | 9884 | 305 | 632 |
--------------------------------------------------------------------------------
| Kohustused kokku | | 219 511 | 180 497 | 14 029 | 11 536 |
--------------------------------------------------------------------------------
| Omakapital | | | | | |
--------------------------------------------------------------------------------
| Aktsiakapital nimiväärtuses | | 400 000 | 379 472 | 25 565 | 24 252 |
--------------------------------------------------------------------------------
| Ülekurss | | 223 293 | 83 011 | 14 271 | 5305 |
--------------------------------------------------------------------------------
| Kohustuslik reservkapital | | 1046 | 1046 | 67 | 67 |
--------------------------------------------------------------------------------
| Ümberhindlusreserv | | -76 512 | -10 710 | -4 890 | -684 |
--------------------------------------------------------------------------------
| Eelmiste perioodide jaotamata | | 185 927 | -987 | 11 883 | -63 |
| kasum | | | | | |
--------------------------------------------------------------------------------
| Emaettevõtja aktsionäridele | | 733 754 | 451 832 | 46 896 | 28 877 |
| kuuluv kogu omakapital | | | | | |
--------------------------------------------------------------------------------
| Vähemusosalus | | 136 313 | 179 808 | 8 712 | 11 492 |
--------------------------------------------------------------------------------
| Omakapital kokku | | 870 067 | 631 640 | 55 608 | 40 369 |
--------------------------------------------------------------------------------
| OMAKAPITAL JA KOHUSTUSED KOKKU | | 1 089 | 812 137 | 69 637 | 51 905 |
| | | 578 | | | |
--------------------------------------------------------------------------------
Kasumiaruanne - 2007. aasta 12 kuud
Konsolideeritud, auditeerimata
--------------------------------------------------------------------------------
| | | 2007 | 2006 | 2007 | 2006 |
| | | 12 kuud | 12 kuud | 12 kuud | 12 kuud |
| | | Tuhat | Tuhat | Tuhat | Tuhat |
| | | EEK | EEK | EUR | EUR |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Müügitulu | | 1 542 | 422 682 | 98 580 | 27 014 |
| | | 438 | | | |
--------------------------------------------------------------------------------
| Müüdud kaupade kulud | | -870 | -242 | -55 653 | -15 521 |
| | | 780 | 847 | | |
--------------------------------------------------------------------------------
| Brutokasum | | 671 658 | 179 835 | 42 927 | 11 493 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Muud äritulud | | 119 829 | 12 778 | 7658 | 817 |
--------------------------------------------------------------------------------
| Turustuskulud | | -213 | -59 085 | -13 674 | -3 776 |
| | | 958 | | | |
--------------------------------------------------------------------------------
| Üldhalduskulud | | -170 | -42 019 | -10 900 | -2 686 |
| | | 552 | | | |
--------------------------------------------------------------------------------
| Muud ärikulud | | -73 350 | -12 502 | -4 688 | -799 |
--------------------------------------------------------------------------------
| Ärikasum | | 333 627 | 79 007 | 21 323 | 5049 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Intressikulud | | -2 921 | -1 371 | -187 | -88 |
--------------------------------------------------------------------------------
| Kasum/kahjum valuutakursi | | -7 818 | 645 | -500 | 42 |
| muutustest | | | | | |
--------------------------------------------------------------------------------
| Muud finantstulud/-kulud | | 13 077 | 3 213 | 836 | 205 |
--------------------------------------------------------------------------------
| Finantstulud/-kulud kokku | | 2 338 | 2 487 | 149 | 159 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Osa kapitaliosaluse | | 988 | 44 | 63 | 3 |
| meetodil | | | | | |
| kajastatavate | | | | | |
| investeerimisobjektide | | | | | |
| kasumist | | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Kasum enne tulumaksu | | 336 953 | 81 538 | 21 535 | 5 211 |
--------------------------------------------------------------------------------
| Tulumaks | | -92 943 | -19 362 | -5 940 | -1 237 |
--------------------------------------------------------------------------------
| Perioodi puhaskasum | | 244 010 | 62 176 | 15 595 | 3 974 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Emaettevõtjale omistatav | | 186 914 | 44 990 | 11 946 | 2 876 |
| puhaskasum | | | | | |
--------------------------------------------------------------------------------
| Vähemusaktsionäridele omistatav | | 57 096 | 17 186 | 3 649 | 1 098 |
| puhaskasum | | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Tulu aktsia kohta | | | | | |
--------------------------------------------------------------------------------
| Tavakasum aktsia kohta | | 4,81 | 4,08 | 0,31 | 0,26 |
| (EEK/EUR) | | | | | |
--------------------------------------------------------------------------------
| Lahustatud kasum aktsia kohta | | 4,81 | 4,08 | 0,31 | 0,26 |
| (EEK/EUR) | | | | | |
--------------------------------------------------------------------------------
Kasumiaruanne - neljas kvartal
Konsolideeritud, auditeerimata
--------------------------------------------------------------------------------
| | | 2007 | 2006 | 2007 | 2006 |
| | | 4. | 4. | 4. | 4. |
| | | kvartal | kvartal | kvartal | kvartal |
| | | Tuhat | Tuhat | Tuhat | Tuhat |
| | | EEK | EEK | EUR | EUR |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Müügitulu | | 365 313 | 321 784 | 23 348 | 20 565 |
--------------------------------------------------------------------------------
| Müüdud kaupade kulud | | -195 | -186 | -12 494 | -11 916 |
| | | 488 | 449 | | |
--------------------------------------------------------------------------------
| Brutokasum | | 169 825 | 135 335 | 10 854 | 8649 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Muud äritulud | | 26 278 | 12 494 | 1679 | 799 |
--------------------------------------------------------------------------------
| Turustuskulud | | -73 624 | -35 592 | -4705 | -2275 |
--------------------------------------------------------------------------------
| Üldhalduskulud | | -45 254 | -30 714 | -2892 | -1963 |
--------------------------------------------------------------------------------
| Muud ärikulud | | -22 749 | -11 550 | -1454 | -738 |
--------------------------------------------------------------------------------
| Ärikasum | | 54 476 | 69 973 | 3482 | 4472 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Intressikulud | | -903 | -477 | -58 | -31 |
--------------------------------------------------------------------------------
| Kasum/kahjum valuutakursi | | -4 078 | 647 | -261 | 42 |
| muutustest | | | | | |
--------------------------------------------------------------------------------
| Muud finantstulud/-kulud | | 6 865 | 3 261 | 439 | 208 |
--------------------------------------------------------------------------------
| Finantstulud/-kulud kokku | | 1 884 | 3 431 | 120 | 219 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Osa kapitaliosaluse meetodil | | 988 | 44 | 63 | 3 |
| kajastatavate | | | | | |
| investeerimisobjektide kasumist | | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Kasum enne tulumaksu | | 57 348 | 73 448 | 3 665 | 4 694 |
--------------------------------------------------------------------------------
| Tulumaks | | -20 562 | -19 098 | -1 314 | -1 220 |
--------------------------------------------------------------------------------
| Perioodi puhaskasum | | 36 786 | 54 350 | 2 351 | 3 474 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Emaettevõtjale omistatav | | 24 094 | 37 164 | 1 540 | 2 376 |
| puhaskasum | | | | | |
--------------------------------------------------------------------------------
| Vähemusaktsionäridele omistatav | | 12 692 | 17 186 | 811 | 1 098 |
| puhaskasum | | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Tulu aktsia kohta | | | | | |
--------------------------------------------------------------------------------
| Tavakasum aktsia kohta (EEK/EUR) | | 4,81 | 4,08 | 0,31 | 0,26 |
--------------------------------------------------------------------------------
| Lahustatud kasum aktsia kohta | | 4,81 | 4,08 | 0,31 | 0,26 |
| (EEK/EUR) | | | | | |
--------------------------------------------------------------------------------
Sergei Kusonski
Tegevjuht, juhatuse liige
Pealkiri
SFG: Management Report Q4 and 12 months of 2007
Teade
Consolidated Financial Results of Q4 and 12 months of 2007
In the fourth quarter of 2007, AS Silvano Fashion Group earned a net profit of
EEK 24.1 million (EUR 1.5 million), which increased by EEK 6.9 million (EUR 0.4
million) as compared to the fourth quarter of the previous year. The net margin
of the fourth quarter of this year is 6.6% (Q4 2006: 5.3%). The fourth quarter
sales resulted in EEK 365.3 million (EUR 23.3 million) and the Group's gross
margin in Q4 2007 reached 46.5% compared to 42.1 % in the fourth quarter of
2006. Operating margin reached 14.9% (22.3% in Q4 2006) and operating profit was
EEK 54.5 million (EUR 3.5 million) compared to EEK 58.8 million (EUR 3.8
million) in Q4 2006.
Cumulative 2007 sales of AS Silvano Fashion Group amounted to EEK 1,542.4
million (EUR 98.6 million), having increased 2.6 times compared to 2006. The
Group's gross and operating margins in 2007 stood at 43.6% and 21.6%
respectively (42.5% and 20.9% in 2006). Operating profit in 2007 amounted to EEK
333.6 million (EUR 21.3 million) compared to EEK 88.5 million (EUR 5.7 million)
in 2006. Net profit for 2007 amounted to EEK 186.9 million (EUR 11.9 million)
and net margin reached 12.1% (10.7% in 2006).
An outstanding growth in company's results and profits is explained by the
acquisition of AS Silvano Fashion Group by the former PTA Grupp AS in 2006.
Sales Revenue
Sales by Products/Services
In 2007 sales revenue related to sales of women's apparel increased by EEK 44.6
million (EUR 2.9 million) compared to 2006, forming 10.1% of the Group's sales
revenue (2006: 26.3%). Lingerie sales in 2007 amounted to EEK 1,347.4 million
(EUR 86.1 million) forming 87.4% of total Group's sales revenue. Subcontracting
services and other sales decreased by EEK 2.1 million (EUR 0.1 million) as
compared to the same period of 2006. Subcontracting services and other sales in
2007 amounted to EEK 39.3 million (EUR 2.5 million) forming 2.5% of total sales
revenue.
Sales by business segments
--------------------------------------------------------------------------------
| | 2007 | 2006 | Chang | 2007 | 2006 | Chang | 2007 | 2006 |
| | EEK | EEK | e | EUR | EUR | e | percent | percent |
| | Mill. | Mill | EEK | Mill | Mill. | EUR | from | from |
| | | . | Mill. | . | | Mill. | sales | sales |
--------------------------------------------------------------------------------
| Women's | 155.7 | 111. | 44.6 | 10.0 | 7.1 | 2.9 | 10.1% | 26.3% |
| apparel | | 1 | | | | | | |
--------------------------------------------------------------------------------
| Lingerie | 1,341 | 270. | 1071. | 86.1 | 17.3 | 68.8 | 86.1% | 63.9% |
| | .4 | 2 | 2 | | | | | |
--------------------------------------------------------------------------------
| Subcontrac | 39.3 | 41.4 | -2.1 | 2.5 | 2.6 | -0.1 | 2.5% | 9.8% |
| ting | | | | | | | | |
| services | | | | | | | | |
| and other | | | | | | | | |
| sales | | | | | | | | |
--------------------------------------------------------------------------------
| Total | 1,542 | 422. | 1,119 | 98.6 | 27.0 | 71.6 | 100.0% | 100.0% |
| | .4 | 7 | .7 | | | | | |
--------------------------------------------------------------------------------
Sales by Markets
Women's apparel
Main driver of the growth for women's apparel sales was expansion of PTA retail
chain. In 2007 retail sales were 76.5% from the total revenue of women's
apparel. Sales volume in Baltic's increased by 22.4%, amounting EEK 111.9
million (EUR 7.2 million). Sales revenue in Russia was EEK 17.2 million (EUR 1.1
million) and in Ukraine EEK 2.6 million (EUR 0.2million). Russia and Ukraine are
new markets for PTA apparel collection, first stores in Russia were open in the
end of 2006 and first store in Ukraine in July 2007. In Finland revenue has
increased by 5%, amounting EEK 18.7 million (EUR 1.2 million).
Lingerie
The majority of lingerie sales revenue in 2007 was earned on the Russian markets
(amounting to EEK 747.9 million (EUR 47.8 million) giving 68.3% of all lingerie
sales volume for 2007). Sales in Russia comprise both retail sales and
wholesale. The second biggest region of lingerie sales is Belarus, amounting to
EEK 275.4 million (EUR 17.6 million) giving 25.1 % of all lingerie sales revenue
(also comprising both retail sales and wholesale). As lingerie sales is a new
business line for the Group, comparable figures of previous periods are not
available.
In terms of lingerie brands, the sales of “Milavitsa” core brand accounted for
75.7% of total lingerie sales revenue in 2007 and amounted to EEK 788.6 million
(EUR 50.4 million). The sales of “Lauma” core brand accounted for 7.2% of total
lingerie sales and amounted to EEK 122.0 million (EUR 7.8 million). Other brands
such as “Alisee”, “Aveline”, “Laumelle”, “Lauma Aqua”, “Laumelle Aqua” and
“Bellita” comprised 17.1% of total lingerie sales in 2007 amounting to EEK 184.6
million (EUR 11.8 million).
Total sales by markets
--------------------------------------------------------------------------------
| | 2007 | 2006 | Chan | 2007 | 2006 | Chang | 2007 | 2006 |
| | EEK | EEK | ge | EUR | EUR | e | percentag | percentag |
| | mill | mill | EEK | mill | milli | EUR | e from | e from |
| | ion | ion | mill | ion | on | milli | sales | sales |
| | | | ion | | | on | | |
--------------------------------------------------------------------------------
| Estonia | 167. | 96.9 | 70.5 | 10.7 | 6.2 | 4.5 | 10.9% | 22.9% |
| | 4 | | | | | | | |
--------------------------------------------------------------------------------
| Finland | 39.1 | 34.0 | 5.1 | 2.5 | 2.2 | 0.3 | 2.5% | 8.0% |
--------------------------------------------------------------------------------
| Latvia | 50.1 | 30.7 | 19.4 | 3.2 | 2.0 | 1.2 | 3.2% | 7.3% |
--------------------------------------------------------------------------------
| Belarus | 278. | 59.9 | 218. | 17.8 | 3.8 | 14.0 | 18.1% | 14.2% |
| | 5 | | 6 | | | | | |
--------------------------------------------------------------------------------
| Ukraine | 100. | 18.4 | 81.7 | 6.4 | 1.2 | 5.2 | 6.5% | 4.4% |
| | 1 | | | | | | | |
--------------------------------------------------------------------------------
| Russia | 766. | 145. | 621. | 49.0 | 9.3 | 39.7 | 49.7% | 34.4% |
| | 7 | 6 | 1 | | | | | |
--------------------------------------------------------------------------------
| Other | 140. | 37.2 | 103. | 9.0 | 2.3 | 6.7 | 9.1% | 8.8% |
| markets | 5 | | 3 | | | | | |
--------------------------------------------------------------------------------
| Total | 1,54 | 422. | 1,11 | 98.6 | 27.0 | 71.6 | 100.0% | 100.0% |
| | 2.4 | 7 | 9.7 | | | | | |
--------------------------------------------------------------------------------
Retail Sales
Total retail sales of the Group in 2007 amounted to EEK 280.1 million (EUR 17.9
million), increasing 3.4 times compared to 2006.
Retail operations were conducted in Estonia, Latvia, Russia, Belarus, Poland,
Lithuania and Ukraine. At the end of 2007 the Group operated 115 retail outlets
with a total area of 12,454 square meters.
Women's apparel retail operations were conducted in Estonia, Latvia, Lithuania,
Russia and Ukraine. At the end of September 2007 Group operated 30 women's
apparel stores with a total sales area of 5,741 square meters (2006: 2,688
square meters).
Lingerie retail operations were conducted in Russia, Belarus, Latvia, Lithuania
and Poland. At the end of 2007 Group operated 84 lingerie stores with a total
area of 6,713 square meters.
Within 2007 60 new stores were opened: 17 women's apparel stores operating under
the PTA brand (9 in Russia, 4 in Lithuania, 1 in Estonia and 3 in Ukraine), and
22 lingerie stores under the Oblicie brand (20 in Russia ,1 in Poland and 1 in
Ukraine). 16 lingerie stores were acquired in Lithuania.
Number of stores
31.12.2007 31.12.2006
Estonia 8 7
Latvia 6 6
Poland 10 7
Belarus 23 20
Russia 44 15
Lithuania 20 -
Ukraine 4 -
Total stores 115 55
Total sales area, m2 12,454 6,997
Women's apparel retail sales revenue increased in 2007 by 46% compared to 2006,
amounting to EEK 118.4 million (EUR 7.6 million). The increase in retail sales
was supported by the increase in sales in the like-for-like spaces as well as
the considerably greater number of stores. The increase in retail sales of
women's apparel of the like-for-like spaces was 9% compared to 2006. In Baltic's
the growth of PTA retail revenue was 22%. Growth in Baltic's was supported by
expansion to Lithuanian market. As Russia and Ukraine are new markets for
women's apparel comparable figures are not available.
The like-for-like increase in the Oblicie lingerie retail chain is about 41% for
stores operating more than one year. Group's main objectives in lingerie retail
operations is opening of new stores in Russia. In addition to the general
seasonal marketing campaigns directed to the new markets, marketing operations
were focused on campaigns supporting the expansion on the Russian market.
As lingerie sale is a new business line for Group, comparable figures of
previous years cannot be presented.
Wholesale
In 2007 wholesales amounted to EEK 1,223.6 million (EUR 78.2 million) giving
79.3% of the Group's total revenue. Main wholesales regions in the lingerie
business of the Group were Russia, Ukraine, the Baltic republics and Belarus,
and in the women's apparel business - Finland and the Baltic States. Sales
revenue from wholesales of women's apparel increased by 28.9% in 2007 compared
to same period of 2006, amounting to EEK 43.8 million ( EUR 2.8 million).
Sales of subcontracting and other services
Subcontracting and other services amounted to EEK 39.3 million (EUR 2.5
million), a 5% decrease compared to 2006. Subcontracting services increased in
the women's apparel amounted to EEK 31.3 million , a 23.3% increase compared to
2006. Subcontracting services were sold mainly to clients from Finland.
Profits
The Group's gross margin in 2007 was 43.6% (2006: 42.5%). Gross profit for 2007
amounted to EEK 671.2 million (EUR 42.9 million) compared to EEK 179.9 million
(EUR 11.5 million) in 2006.
The operating profit for 2007 amounted to EEK 333.6 million (EUR 21.3 million),
resulting in an operating profit margin of 21.6% (2006: 20.9%). Within 2007 the
Group increased its shareholding in its subsidiary Milavitsa resulting in gains
from business combination booked in 2007 in the total amount of EEK 89.4 million
( EUR 5.7 million).
The net profit of the Group (after taxes and minority shareholding) for 2007
amounted to EEK 186.9 million (EUR 11.9 million). The net profit margin for 2007
was 12.1% compared to 10.7% in the same period of the previous year.
Balance sheet
The total assets on the consolidated balance sheet amounted to EEK 1,090 million
(EUR 69.6 million) as of 31 December 2007. Compared to the end of the previous
year the balance sheet total assets have increased by EEK 278.0 million (EUR
17.7 million). Both assets and liabilities have increased in connection with
rapid retail expansion and funds obtained from the issue of additional shares.
As of the end of December the inventories of the Group amounted to EEK 337.5
million (EUR 21.6 million) increasing by EEK 107.3 million (EUR 6.9 million)
over the end of the year 2006. The increase in the balance of inventories is
related to the expansion of activities in Russia and other retail markets.
Trade receivables have increased by EEK 46.8 million (EUR 3.0 million) amounting
to EEK 158.5 million (EUR 10.1 million). Trade receivables balance grown due to
the growth of business and a change in the payment terms of agreements with some
customers made in order to retain competitiveness, especially in the CIS
markets.
Trade payables have increased by EEK 35.3 million (EUR 2.3 million) compared to
the end of previous year amounting to EEK 122.9 million (EUR 7.9 million). The
volumes of trade payables increased on account of the increase in sales volumes
and the stores opening .
At the end of December 2007, the Group's borrowings amounted to EEK 25.2 million
(EUR 1.6 million), having decreased by EEK 4.7 million (EUR 0.3 million) since
the beginning of the year.
Investments
During 2007 the Group's investments totaled EEK 156.3 million (EUR 10.0
million). A total of EEK 44.3 million (EUR 2.8 million) was invested in retail
operations, other investments were connected to equipment and facilities to
maintain effective production operations.
Personnel
By the end of December of 2007, the Group employed 3,581 employees, including
552 in retail operations and 2,243 in production. The rest of the employees are
employed in wholesale, administration and support operations. The average number
of employees in 2007 was 3,450.
The total salaries and wages for 2007 amounted to EEK 293.6 million (EUR 18.8
million). The remuneration paid to members of the Management Board and
Supervisory Board totaled EEK 1.8 million (EUR 0.1 million).
Selected financial data 2007
--------------------------------------------------------------------------------
| Key figures and ratios | 31.12.200 | 31.12.2006 | Change |
| | 7 | | |
--------------------------------------------------------------------------------
| Net sales (EEK million) | 1,542.4 | 422.7 | 1,119.7 |
--------------------------------------------------------------------------------
| Net income, attributable to shareholders | 186.9 | 45.0 | 141.9 |
| (EEK million) | | | |
--------------------------------------------------------------------------------
| Earnings before interest, taxes and | 372.0 | 90.7 | 281.3 |
| depreciation (EBITDA) ( EEK million) | | | |
--------------------------------------------------------------------------------
| Earnings before interest and taxes | 333.6 | 79.0 | 254.6 |
| (EBIT) (EEK million) | | | |
--------------------------------------------------------------------------------
| Net sales (EUR million) | 98.6 | 27.0 | 71.6 |
--------------------------------------------------------------------------------
| Net income attributable to shareholders | 11.9 | 2.9 | 9.0 |
| (EUR million) | | | |
--------------------------------------------------------------------------------
| Earnings before interest, taxes and | 23.8 | 5.8 | 18.0 |
| depreciation (EBITDA) ( EUR million) | | | |
--------------------------------------------------------------------------------
| Earnings before interest and taxes | 21.3 | 5.1 | 16.2 |
| (EBIT) (EUR million) | | | |
--------------------------------------------------------------------------------
| Operating margin, % | 21.6% | 18.7% | - |
--------------------------------------------------------------------------------
| Net margin, % | 12.1% | 10.6% | - |
--------------------------------------------------------------------------------
| ROA, % | 17.1% | 10.4% | - |
--------------------------------------------------------------------------------
| ROE, % | 21.4% | 19.3% | - |
--------------------------------------------------------------------------------
| Earnings per share (EPS), in EEK | 4.81 | 4.08 | - |
--------------------------------------------------------------------------------
| Earnings per share (EPS), in EUR | 0.31 | 0.26 | - |
--------------------------------------------------------------------------------
| Current ratio | 3.6 | 3.6 | - |
--------------------------------------------------------------------------------
| Quick ratio | 2.1 | 2.3 | - |
--------------------------------------------------------------------------------
Underlying formulas:
Operating margin = operating profit / sales revenue
Net margin = net profit attributable to equity holders of the parent / sales
revenue
ROA (return on assets) = net profit attributable to equity holders of the parent
/ average total assets
ROE (return on equity) = net profit attributable to equity holders of the parent
/ average equity
EPS (earnings per share) = net profit attributable to equity holders of the
parent / weighted average number of ordinary shares
Current ratio = current assets / current liabilities
Quick ratio = (current assets - inventories) / current liabilities
Balance Sheet
Consolidated, unaudited
--------------------------------------------------------------------------------
| | | 31.12.2 | 31.12.2006 | 31.12.2 | 31.12.20 |
| | | 007 | | 007 | 06 |
--------------------------------------------------------------------------------
| | | EEK | EEK | EUR | EUR |
| | | thousan | thousand | thousan | thousand |
| | | d | | d | |
--------------------------------------------------------------------------------
| ASSETS | | | | | |
--------------------------------------------------------------------------------
| Current assets | | | | | |
--------------------------------------------------------------------------------
| Cash and cash equivalents | | 180,233 | 200,460 | 11,519 | 12,812 |
--------------------------------------------------------------------------------
| Trade receivables | | 158,531 | 111,729 | 10,132 | 7,141 |
--------------------------------------------------------------------------------
| Other receivables | | 29,713 | 10,680 | 1,899 | 682 |
--------------------------------------------------------------------------------
| Prepayments | | 51,680 | 34,414 | 3,303 | 2,200 |
--------------------------------------------------------------------------------
| Current tax assets | | 24,471 | 31,568 | 1,564 | 2,017 |
--------------------------------------------------------------------------------
| Inventories | | 337,528 | 230,255 | 21,572 | 14,716 |
--------------------------------------------------------------------------------
| Total current assets | | 782,156 | 619,106 | 49,989 | 39,568 |
--------------------------------------------------------------------------------
| Non-current assets | | | | | |
--------------------------------------------------------------------------------
| Intangible assets | | 27,976 | 16,551 | 1,788 | 1,058 |
--------------------------------------------------------------------------------
| Property, plant and equipment | | 246,541 | 172,281 | 15,757 | 11,011 |
--------------------------------------------------------------------------------
| Investments in equity | | 876 | 78 | 56 | 5 |
| accounted investees | | | | | |
--------------------------------------------------------------------------------
| Available-for-sale financial | | 8,480 | 1,772 | 542 | 113 |
| assets | | | | | |
--------------------------------------------------------------------------------
| Investment property | | 22,954 | 0 | 1,467 | 0 |
--------------------------------------------------------------------------------
| Other receivables | | 595 | 2,349 | 38 | 150 |
--------------------------------------------------------------------------------
| Total non-current assets | | 307,422 | 193,031 | 19,648 | 12,337 |
--------------------------------------------------------------------------------
| TOTAL ASSETS | | 1 089,5 | 812,137 | 69,637 | 51,905 |
| | | 78 | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| LIABILITIES AND EQUITY | | | | | |
--------------------------------------------------------------------------------
| Current liabilities | | | | | |
--------------------------------------------------------------------------------
| Loans and borrowings | | 25,160 | 29,907 | 1,608 | 1,911 |
--------------------------------------------------------------------------------
| Trade payables | | 122,888 | 87,534 | 7,854 | 5,594 |
--------------------------------------------------------------------------------
| Corporate income tax | | 3,192 | 5,976 | 204 | 382 |
| liability | | | | | |
--------------------------------------------------------------------------------
| Other tax liabilities | | 23,486 | 19,369 | 1,501 | 1,238 |
--------------------------------------------------------------------------------
| Other payables | | 17,430 | 10,366 | 1,113 | 663 |
--------------------------------------------------------------------------------
| Provisions | | 22,462 | 17,461 | 1,436 | 1,116 |
--------------------------------------------------------------------------------
| Accrued expenses | | 125 | 0 | 8 | 0 |
--------------------------------------------------------------------------------
| Total current liabilities | | 214,743 | 170,613 | 13,724 | 10,904 |
--------------------------------------------------------------------------------
| Non-current liabilities | | | | | |
--------------------------------------------------------------------------------
| Loans and borrowings | | 4,068 | 9,544 | 260 | 610 |
--------------------------------------------------------------------------------
| Other liabilities | | 360 | 0 | 23 | 0 |
--------------------------------------------------------------------------------
| Provisions | | 139 | 139 | 9 | 9 |
--------------------------------------------------------------------------------
| Deferred tax liabilities | | 201 | 201 | 13 | 13 |
--------------------------------------------------------------------------------
| Total non-current liabilities | | 4,768 | 9,884 | 305 | 632 |
--------------------------------------------------------------------------------
| Total liabilities | | 219,511 | 180,497 | 14,029 | 11,536 |
--------------------------------------------------------------------------------
| Equity | | | | | |
--------------------------------------------------------------------------------
| Share capital at par value | | 400,000 | 379,472 | 25,565 | 24,252 |
--------------------------------------------------------------------------------
| Share premium | | 223,293 | 83,011 | 14,271 | 5,305 |
--------------------------------------------------------------------------------
| Statutory capital reserve | | 1046 | 1,046 | 67 | 67 |
--------------------------------------------------------------------------------
| Translation reserve | | -76,512 | -10,710 | -4,890 | -684 |
--------------------------------------------------------------------------------
| Retained earnings | | 185,927 | -987 | 11,883 | -63 |
--------------------------------------------------------------------------------
| Total equity attributable to | | 733,754 | 451,832 | 46,896 | 28,877 |
| equity holders of the parent | | | | | |
--------------------------------------------------------------------------------
| Minority interest | | 136,313 | 179,808 | 8,712 | 11,492 |
--------------------------------------------------------------------------------
| Total equity | | 870,067 | 631,640 | 55,608 | 40,369 |
--------------------------------------------------------------------------------
| TOTAL LIABILITIES AND EQUITY | | 1 089,5 | 812,137 | 69,637 | 51,905 |
| | | 78 | | | |
--------------------------------------------------------------------------------
Income Statement-12 months 2007
Consolidated, unaudited
--------------------------------------------------------------------------------
| | | 2007 | 2006 | 2007 | 2006 |
| | | 12 | 12 | 12 | 12 |
| | | months | months | months | months |
| | | EEK | EEK | EUR | EUR |
| | | thousan | thousan | thousand | thousand |
| | | d | d | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net sales | | 1 542,4 | 422,682 | 98,580 | 27,014 |
| | | 38 | | | |
--------------------------------------------------------------------------------
| Costs of goods sold | | -870,78 | -242,84 | -55,653 | -15,521 |
| | | 0 | 7 | | |
--------------------------------------------------------------------------------
| Gross Profit | | 671,658 | 179,835 | 42,927 | 11,493 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other operating income | | 119,829 | 12,778 | 7,658 | 817 |
--------------------------------------------------------------------------------
| Distribution costs | | -213,95 | -59,085 | -13,674 | -3,776 |
| | | 8 | | | |
--------------------------------------------------------------------------------
| Administrative expenses | | -170,55 | -42,019 | -10,900 | -2,686 |
| | | 2 | | | |
--------------------------------------------------------------------------------
| Other operating expenses | | -73,350 | -12,502 | -4,688 | -799 |
--------------------------------------------------------------------------------
| Operating profit | | 333,627 | 79,007 | 21,323 | 5,049 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Interest expenses | | -2,921 | -1,371 | -187 | -88 |
--------------------------------------------------------------------------------
| Gains/losses on conversion of | | -7,818 | 645 | -500 | 42 |
| foreign currencies | | | | | |
--------------------------------------------------------------------------------
| Other financial income / | | 13,077 | 3,213 | 836 | 205 |
| expenses | | | | | |
--------------------------------------------------------------------------------
| Total financial income / | | 2,338 | 2,487 | 149 | 159 |
| expenses | | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Share of profit of equity | | 988 | 44 | 63 | 3 |
| accounted investees | | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit before corporate income | | 336,953 | 81,538 | 21,535 | 5,211 |
| tax | | | | | |
--------------------------------------------------------------------------------
| Corporate income tax | | -92,943 | -19,362 | -5,940 | -1,237 |
--------------------------------------------------------------------------------
| Net profit for period | | 244,010 | 62,176 | 15,595 | 3,974 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net profit attributable to | | 186,914 | 44,990 | 11,946 | 2,876 |
| parent company | | | | | |
--------------------------------------------------------------------------------
| Net profit attributable to | | 57,096 | 17,186 | 3,649 | 1,098 |
| minority shareholders | | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Earnings per share | | | | | |
--------------------------------------------------------------------------------
| Basic earnings per share | | 4,81 | 4,08 | 0,31 | 0,26 |
| (EEK/EUR) | | | | | |
--------------------------------------------------------------------------------
| Diluted earnings per share | | 4,81 | 4,08 | 0,31 | 0,26 |
| (EEK/EUR) | | | | | |
--------------------------------------------------------------------------------
Income Statement-Q4
Consolidated, unaudited
--------------------------------------------------------------------------------
| | | 2007 | 2006 | 2007 | 2006 |
| | | Q4 | Q4 | Q4 | Q4 |
| | | EEK | EEK | EUR | EUR |
| | | thousan | thousan | thousan | thousan |
| | | d | d | d | d |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net sales | | 365,313 | 321,784 | 23,348 | 20,565 |
--------------------------------------------------------------------------------
| Costs of goods sold | | -195,48 | -186,44 | -12,494 | -11,916 |
| | | 8 | 9 | | |
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| Gross Profit | | 169,825 | 135,335 | 10,854 | 8,649 |
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| Other operating income | | 26,278 | 12,494 | 1,679 | 799 |
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| Distribution costs | | -73,624 | -35,592 | -4,705 | -2,275 |
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| Administrative expenses | | -45,254 | -30,714 | -2,892 | -1,963 |
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| Other operating expenses | | -22,749 | -11,550 | -1,454 | -738 |
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| Operating profit | | 54,476 | 69,973 | 3,482 | 4,472 |
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| Interest expenses | | -903 | -477 | -58 | -31 |
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| Gains/losses on conversion of | | -4,078 | 647 | -261 | 42 |
| foreign currencies | | | | | |
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| Other financial income / | | 6,865 | 3,261 | 439 | 208 |
| expenses | | | | | |
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| Total financial income / | | 1,884 | 3,431 | 120 | 219 |
| expenses | | | | | |
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| Share of profit of equity | | 988 | 44 | 63 | 3 |
| accounted investees | | | | | |
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| Profit before corporate income | | 57,348 | 73,448 | 3,665 | 4,694 |
| tax | | | | | |
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| Corporate income tax | | -20,562 | -19,098 | -1,314 | -1,220 |
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| Net profit for period | | 36,786 | 54,350 | 2,351 | 3,474 |
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| Net profit attributable to | | 24,094 | 37,164 | 1,540 | 2,376 |
| parent company | | | | | |
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| Net profit attributable to | | 12,692 | 17,186 | 811 | 1,098 |
| minority shareholders | | | | | |
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| Earnings per share | | | | | |
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| Basic earnings per share | | | 4,08 | | 0,26 |
| (EEK/EUR) | | | | | |
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| Diluted earnings per share | | | 4,08 | | 0,26 |
| (EEK/EUR) | | | | | |
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Sergei Kusonski
CEO, Member of the Management Board