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Nordic Fibreboard AS
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Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
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Kuupäev
29.11.2024 13:01:24
Pealkiri
Nordic Fibreboard AS 2024. aasta III kvartali auditeerimata majandustulemused
Teade
JUHTKONNA ARUANNE
Nordic Fibreboard AS konsolideeritud müügitulu oli 2024. aasta 3. kvartalis
1,94 miljonit eurot, mis oli 8% tõusu võrreldes eelmise aasta sama perioodiga
(2023 3. kvartalis 1,79 miljonit eurot). Kontserni peamine tegevusala on
puitkiudplaadi tootmine ja hulgimüük, mille müügitulu 2024. aasta 3. kvartalis
oli 1,94 miljonit eurot (2023. aasta 2. kvartalis 1,78 miljonit eurot).
Ülejäänud segmendiks on Pärnus Suur-Jõe tänaval oleva kinnisvara haldamine,
mille müügitulu 2024. aasta 3. kvartalis oli 2 tuhat eurot (2023. aasta 3.
kvartalis 11 tuhat eurot).
2024. aasta müügitulu kasvas peamiselt tänu tööstusklientide suurenenud
tellimustele ning osaliselt ka ehitusmaterjalide turu müügimahtude tõusule.
Suurima kasvu tõi Soome turg, samas kui Balti riikide ja teiste Skandinaavia
riikide müügimahud jäid 2024. aasta 3. kvartalis eelmise aasta sama perioodiga
võrreldes muutumatuks.
Pärnu Riverside Development OÜ kinnisvara haldamise müügitulu Suur-Jõe tänava
kinnistul vähenes 2024. aasta 3. kvartalis võrreldes 2023. aasta 3. kvartaliga.
Müügitulu langus oli tingitud rendilepingute lõpetamisest 2024. aasta augustis.
Rendilepingud lõpetati tootmishoone kompleksi eripärade tõttu, mis põhjustasid
kõrgeid halduskulusid, mida renditulud ei suutnud katta.
Nordic Fibreboard konsolideeritud EBITDA oli 2024. aasta 3. kvartalis negatiivne
19 tuhat eurot, EBITDA rentaablus negatiivne 1% (2023. aasta 3. kvartali EBITDA
positiivne 238 tuhat eurot ning EBITDA rentaablus positiivne 13%). Võrreldes
2023. aasta 3. kvartaliga langes Kontserni brutomarginaal 27%-lt 2024. aasta 3.
kvartalis 16%-le, mis näitab, et Kontserni 2024. aasta 3. kvartali kasumlikkus
on võrreldes eelmise aasta sama perioodiga langenud.
2024. aasta 2. kvartali negatiivne EBITDA võrreldes eelmise aasta sama
perioodiga tulenes peamiselt toodangu ühiku omahinna kasvust, mida mõjutasid
sisendkulude suurenemine ning kõrgemad turustus- ja tootearenduskulud. Turustus-
ja tootearenduskulude kasv on strateegiline investeering, mille eesmärk on
tugevdada müügitegevust ja toetada tulevaste perioodide müügitulu kasvu.
2024. aasta 3. kvartali finantskulud olid 113 tuhat eurot, millest 53 tuhat
eurot olid laenuintressikulud ja 60 tuhat eurot kahjum Trigon Property
Development (TPD) aktsiate ümberhindlusest. 2023. aasta 3. kvartali finantskulud
kokku olid 79 tuhat eurot, millest 55 tuhat eurot olid laenuintressikulud ja 24
tuhat eurot kahjum TPD aktsiate ümberhindlusest.
Kontserni 2024. aasta 3. kvartali konsolideeritud puhaskahjum oli 263 tuhat
eurot (2023. aasta 3. kvartalis puhaskasum 37 tuhat eurot).
Ärivaldkondade ülevaade
Müügitulu ärisegmentide lõikes
tuh EUR | tuh EUR
--------------+-------------+---------+---------
III kv 2024 | III kv 2023 | 9k 2024 | 9k 2023
--------------------------------------------+-------------+---------+---------
Kiudplaadi tootmine ja müük 1 936 | 1 775 | 6 055 | 6 358
--------------------------------------------+-------------+---------+---------
Kinnisvara haldamine 2 | 11 | 23 | 34
--------------------------------------------+-------------+---------+---------
Kokku 1 938 | 1 786 | 6 078 | 6 392
Kasum ärisegmentide lõikes
tuh EUR | tuh EUR
------------+-----------+-------+-------
tuh EUR III kv 2024|III kv 2023|9k 2024|9k 2023
----------------------------------------------+-----------+-------+-------
EBITDA ärisegmentide lõikes | | |
----------------------------------------------+-----------+-------+-------
Kiudplaadi tootmine ja müük (19)| 246| 271| 383
----------------------------------------------+-----------+-------+-------
Kinnisvara haldamine (6)| (2)| (21)| (19)
----------------------------------------------+-----------+-------+-------
Elimineerimine 6| (6)| 1| (30)
----------------------------------------------+-----------+-------+-------
Kokku EBITDA (19)| 238| 251| 334
----------------------------------------------+-----------+-------+-------
Erakorraline muu ärikulu 0| 0| 0| (406*)
----------------------------------------------+-----------+-------+-------
Põhivara kulum ja väärtuse langus (131)| (122)| (390)| (367)
----------------------------------------------+-----------+-------+-------
Kokku ÄRIKASUM/-KAHJUM (150)| 116| (139)| (439)
----------------------------------------------+-----------+-------+-------
Neto finantstulud/-kulud (113)| (79)| (219)| (128)
----------------------------------------------+-----------+-------+-------
PUHASKASUM/-KAHJUM (263)| 37| (358)| (567)
* koosneb ühekordsest kahjumist elektrienergia tagasimüügist elektriettevõttele.
Nordic Fibreboard Ltd: kiudplaadi tootmine ja müük
Puitkiudplaadi müügitulu oli 2024. aasta 3. kvartalis 1,94 miljonit eurot (2023.
aasta 3. kvartalis 1,78 miljonit eurot). Müügitulu kasvu toetasid peamiselt
tööstusklientide suurenenud tellimused ning mõningal määral ka välisturgude
paranenud müügimahud. Suurimat kasvu näitas Soome turg, Balti riikide ja teiste
Skandinaavia riikide müügimahud jäid võrreldes 2023.a. 3. kvartaliga samale
tasemele.
Puitkiudplaadi segmendi 2024. aasta 3. kvartali EBITDA oli negatiivne 19 tuhat
eurot, (2023. aasta 3. kvartalis positiivne 246 tuhat eurot). Puitkiudplaadi
segmndi 2024. aasta 3. kvartali puhaskahjum oli 262 tuhat eurot (2023. aasta 3.
kvartalis puhaskasum 46 tuhat eurot). 2024. aasta 2. kvartali negatiivne EBITDA
võrreldes eelmise aasta sama perioodiga tulenes peamiselt toodangu ühiku
omahinna kasvust, mida mõjutasid sisendkulude suurenemine ning kõrgemad
turustus- ja tootearenduskulud. Turustus- ja tootearenduskulude kasv on
strateegiline investeering, mille eesmärk on tugevdada müügitegevust ja toetada
tulevaste perioodide müügitulu kasvu.
KIUDPLAADI MÜÜGITULU GEOGRAAFILISELT
tuh EUR | tuh EUR
--------------+-------------+---------+
III kv 2024 | III kv 2023 | 9k 2024 | 9k 2023
-----------------------------+-------------+---------+---------
Euroopa Liit 1 789 | 1 537 | 5 588 | 5 855
-----------------------------+-------------+---------+---------
Aafrika 89 | 40 | 255 | 133
-----------------------------+-------------+---------+---------
Lähis-Ida 41 | 68 | 96 | 96
-----------------------------+-------------+---------+---------
Aasia 17 | 48 | 102 | 102
-----------------------------+-------------+---------+---------
Teised 0 | 82 | 14 | 172
-----------------------------+-------------+---------+---------
Kokku 1 936 | 1 775 | 6 055 | 6 358
Pärnu Riverside Development: kinnisvara haldus
Pärnu Riverside Development OÜ omab kinnisvara Pärnu linnas asukohaga Suur-Jõe
tänav 48. Kinnisvarahaldusest saadud renditulu oli 2024. aasta 3. kvartalis 2
tuhat eurot (2023. aasta 3. kvartalis 11 tuhat eurot). Pärnu Riverside
Development OÜ kinnisvara haldamise müügitulu Suur-Jõe tänava kinnistul vähenes
2024. aasta 3. kvartalis võrreldes 2023. aasta 3. kvartaliga rendilepingute
lõpetamise tõttu 2024.aasta augustikuus. Rendilepingute lõpetamise otsus tulenes
tootmishoone kompleksi eripäradest, mis põhjustasid kõrgeid halduskulusid ja
mida ei olnud võimalik rendituludega katta.
Kinnisvarahalduse 2024. aasta 3. kvartali EBITDA oli negatiivne 6 tuhat eurot
ning puhaskahjum 6 tuhat eurot (2023. aasta 3. kvartalis EBITDA negativne 2
tuhat eurot ning puhaskahjum 2 tuhat eurot).
Konsolideeritud finantsseisundi ja rahavoogude aruanne
Seisuga 30.09.2024 olid Nordic Fibreboard AS varad kokku 8,8 miljonit eurot
(30.09.2023: 8,9 miljonit eurot). Kontserni kohustised kokku olid seisuga
30.09.2024 4,7 miljonit eurot (30.09.2023: 4,4 miljonit eurot), milledest
Kontsernil võlgnevusi tarnijatele oli 0,8 miljonit eurot seisuga 30.09.2024
(30.09.2023: 0,9 miljonit eurot) ning laenukohustisi 3,5 miljonit eurot seisuga
30.09.2024 (30.09.2023: 3,0 miljonit).
Nõuded ja ettemaksed olid kokku 0,9 miljonit eurot seisuga 30.09.2024
(30.09.2023: 0,8 miljonit eurot). Varud seisuga 30.09.2024 olid 0,9 miljonit
eurot (30.09.2023 1,0 miljonit eurot). Kontserni põhivara kokku seisuga
30.09.2024 oli 7,0 miljonit eurot (30.09.2023: 7,1 miljonit eurot).
Kontserni äritegevuse tulemuseks 9 kuu jooksul 2024. aastal oli negatiivne
rahavoog summas 102 tuhat eurot (2023 9 kuud: positiivne rahavoog summas 472
tuhat eurot). Investeerimistegevuse tulemuseks 2024. aasta 9 kuu jooksul oli
väljaminev rahavoog summas 193 tuhat eurot, mis koosnes tehtud investeeringutest
tootmisvaradesse (2023 9 kuud: väljaminev rahavoog 215 tuhat eurot).
Finantseerimistegevusest oli 2024. aasta 9 kuu kestel sissetulev rahavoog summas
296 tuhat eurot (2023 9 kuud: väljaminev rahavoog 213 tuhat eurot). 2024. aasta
9 kuu netorahavoo tulemuseks oli positiivne rahavoog summas 1 tuhat eurot (2023
9 kuud: positiivne rahavoog 44 tuhat eurot).
TULEVIKU VÄLJAVAADE
Nordic Fibreboard Ltd
2024. aasta lõpu lähenedes suuname pilgud 2025. aastale ja selle
kasvuvõimalustele. Kuigi ehitusturg Eestis, Balti riikides ja Skandinaavias
püsib ajalooliselt madalseisus ning lühiajalised prognoosid ei näita olulist
elavnemist, keskendume pigem võimalustele, mida toovad kaasa muutused
kasutatavates materjalides ja ehitusviisides.
Looduslike ja biolagunevate materjalide turg on kiiresti kasvamas. Vastamaks
sellele trendile oleme Nordic Fibreboardis investeerinud tootearendusse ja
tootmisprotsesside täiustamisse ning plaanime neid jõupingutusi veelgi
suurendada. Tihe koostöö võtmeklientidega erinevatest tööstusharudest võimaldab
meil mõista turu vajadusi ning 2025. aastal planeerime lansseerida uusi tooteid
ja teenuseid, mis on suunatud nii ehitussektorile kui ka teistele
tööstusharudele. Selliselt avardame turuvõimalusi ja loome oma klientidele
konkurentsieelise, pakkudes kvaliteetseid ja väärtuslikke lahendusi, mis
vastavad meie klientide vajadustele.
Samuti tõstame 2025. aastal fookusesse turunduse. Plaanis on algatada
uuenduslikke koostööprojekte, arendada turundusplatvorme ja leida uusi
võimalusi, kuidas suhelda ehitus- ja tööstussektoritega, kus nõudlus
jätkusuutlike puitkiudplaatide lahenduste järele kiiresti kasvab.
Lisaks valmistume vastama peatselt jõustuvatele keskkonnanõuetele.
Keskkonnatoodete deklaratsioonid (EPD) ning Euroopa Liidu metsade raadamise
määruse (EUDR) nõuete täitmine on järjest olulisemad nii meie tööstusklientidele
kui ka teistele võimalikele koostööpartneritele.
Pärnu Riverside Development
Jätkatakse Pärnus Suur-Jõe tn 48 oleva kinnisvara arendamist. Kinnistul on
kehtiv detailplaneering, mis lubab arendada kinnistule tervikliku elukeskkonna.
Hetkel tegeletakse maakorralduslike toimingutega (kinnistu jagamine ja
sihtotstarbe muutmine), lisaks veel teede ja trasside ning uute eluhoonete
projekteerimisega.
FINANTSSUHTARVUD
tuh EUR
| | | |
Kasumiaruanne |III kv 2024|III kv 2023| 9k 2024| 9k 2023
---------------------------------+-----------+-----------+----------+----------
Müügitulu | 1 938| 1 786| 6 078| 6 392
---------------------------------+-----------+-----------+----------+----------
EBITDA | (19)| 238| 251| 334
---------------------------------+-----------+-----------+----------+----------
EBITDA rentaablus | (1%)| 13%| 4%| 5%
---------------------------------+-----------+-----------+----------+----------
Ärikasum/-kahjum | (150)| 116| (139)| (439)
---------------------------------+-----------+-----------+----------+----------
Ärirentaablus | (8%)| 6%| (2%)| (7%)
---------------------------------+-----------+-----------+----------+----------
Puhaskasum/-kahjum | (263)| 37| (358)| (567)
---------------------------------+-----------+-----------+----------+----------
Puhasrentaablus | (14%)| 2%| (6%)| (9%)
| | | |
| | | |
Bilanss | 30.09.2024| 31.12.2023|30.09.2023|31.12.2022
---------------------------------+-----------+-----------+----------+----------
Koguvarad | 8 780| 8 505| 8 897| 9 408
---------------------------------+-----------+-----------+----------+----------
Koguvarade puhasrentaablus | (4%)| (8%)| (6%)| 13%
---------------------------------+-----------+-----------+----------+----------
Omakapital | 4 044| 4 402| 4 517| 5 084
---------------------------------+-----------+-----------+----------+----------
Omakapitali puhasrentaablus | (9%)| (16%)| (13%)| 24%
---------------------------------+-----------+-----------+----------+----------
Võlakordaja | 54%| 48%| 49%| 46%
| | | |
| | | |
Aktsia | 30.09.2024| 31.12.2023|30.09.2023|31.12.2022
---------------------------------+-----------+-----------+----------+----------
Aktsia viimane hind (EUR)* | 0,93| 0,90| 1,00| 1,60
---------------------------------+-----------+-----------+----------+----------
Puhaskasum aktsia kohta (EUR) | (0,11)| (0,15)| (0,04)| 0,27
---------------------------------+-----------+-----------+----------+----------
Hind-tulu (PE) suhtarv | (8,84)| (5,93)| (24,78)| 5,83
---------------------------------+-----------+-----------+----------+----------
Aktsia raamatupidamisväärtus| | | |
(EUR) | 0,90| 0,98| 1,00| 1,13
---------------------------------+-----------+-----------+----------+----------
Turuhinna ja| | | |
raamatupidamisväärtuse suhe | 1,03| 0,92| 1,00| 1,42
---------------------------------+-----------+-----------+----------+----------
Turukapitalisatsioon tuh EUR | 4 184| 4 049| 4 499| 7 198
---------------------------------+-----------+-----------+----------+----------
Aktsiate arv tk | 4 499 061| 4 499 061| 4 499 061| 4 499 061
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
Tuh EUR |30.09.2024|31.12.2023|30.09.2023
----------------------------------------------+----------+----------+----------
Raha ja raha ekvivalendid | 8| 7| 46
----------------------------------------------+----------+----------+----------
Nõuded ja ettemaksed (Lisa 2) | 921| 534| 776
----------------------------------------------+----------+----------+----------
Varud (Lisa 3) | 872| 728| 971
----------------------------------------------+----------+----------+----------
Kokku käibevarad | 1 801| 1 269| 1 793
----------------------------------------------+----------+----------+----------
| | |
----------------------------------------------+----------+----------+----------
Kinnisvarainvesteeringud (Lisa 4) | 2 309| 2 269| 1 859
----------------------------------------------+----------+----------+----------
Finantsvarad õiglases väärtuses muutustega | | |
läbi kasumiaruande (Lisa 7) | 431| 491| 674
----------------------------------------------+----------+----------+----------
Materiaalne põhivara (Lisa 5) | 4 236| 4 475| 4 570
----------------------------------------------+----------+----------+----------
Immateriaalne põhivara (Lisa 6) | 3| 1| 1
----------------------------------------------+----------+----------+----------
Kokku põhivarad | 6 979| 7 236| 7 104
----------------------------------------------+----------+----------+----------
| | |
----------------------------------------------+----------+----------+----------
Kokku varad | 8 780| 8 505| 8 897
----------------------------------------------+----------+----------+----------
| | |
----------------------------------------------+----------+----------+----------
Võlakohustised (Lisa 8) | 652| 556| 119
----------------------------------------------+----------+----------+----------
Võlad ja ettemaksed (Lisa 9) | 1 109| 756| 1 109
----------------------------------------------+----------+----------+----------
Lühiajalised eraldised (Lisa 10) | 5| 21| 3
----------------------------------------------+----------+----------+----------
Kokku lühiajalised kohustised | 1 766| 1 333| 1 231
----------------------------------------------+----------+----------+----------
| | |
----------------------------------------------+----------+----------+----------
Pikaajalised võlakohustised (Lisa 8) | 2 859| 2 659| 2 883
----------------------------------------------+----------+----------+----------
Pikaajalised võlad ja ettemaksed (Lisa 9) | 0| 0| 139
----------------------------------------------+----------+----------+----------
Pikaajalised eraldised (Lisa 10) | 111| 111| 127
----------------------------------------------+----------+----------+----------
Kokku pikaajalised kohustised | 2 970| 2 770| 3 149
----------------------------------------------+----------+----------+----------
Kokku kohustised | 4 736| 4 103| 4 380
----------------------------------------------+----------+----------+----------
| | |
----------------------------------------------+----------+----------+----------
Aktsiakapital (nominaalväärtuses) (Lisa 11) | 450| 450| 450
----------------------------------------------+----------+----------+----------
Kohustuslik reservkapital | 45| 45| 45
----------------------------------------------+----------+----------+----------
Jaotamata kasum (kahjum) | 3 549| 3 907| 4 022
----------------------------------------------+----------+----------+----------
Kokku omakapital | 4 044| 4 402| 4 517
----------------------------------------------+----------+----------+----------
| | |
----------------------------------------------+----------+----------+----------
Kokku kohustised ja omakapital | 8 780| 8 505| 8 897
KONSOLIDEERTUD KASUMI- JA MUU KOONDKASUMIARUANNE
tuh EUR |III kv 2024|III kv 2023|9k 2024|9k 2023
---------------------------------------+-----------+-----------+-------+-------
Müügitulu (Lisa 13) | 1 938| 1 786| 6 078| 6 392
---------------------------------------+-----------+-----------+-------+-------
Müüdud toodangu kulu (Lisa 14) | 1 766| 1 433| 5 235| 5 497
---------------------------------------+-----------+-----------+-------+-------
Brutokasum | 172| 353| 843| 895
---------------------------------------+-----------+-----------+-------+-------
| | | |
---------------------------------------+-----------+-----------+-------+-------
Turustuskulud (Lisa 15) | 249| 133| 725| 536
---------------------------------------+-----------+-----------+-------+-------
Üldhalduskulud (Lisa 16) | 69| 100| 260| 374
---------------------------------------+-----------+-----------+-------+-------
Muud äritulud (Lisa 18) | 0| 0| 8| 0
---------------------------------------+-----------+-----------+-------+-------
Muud ärikulud (Lisa 18) | 4| 4| 5| 424
---------------------------------------+-----------+-----------+-------+-------
Ärikasum | (150)| 116| (139)| (439)
---------------------------------------+-----------+-----------+-------+-------
| | | |
---------------------------------------+-----------+-----------+-------+-------
Finantstulud (Lisa 19) | 0| 0| 0| 31
---------------------------------------+-----------+-----------+-------+-------
Finantskulud (Lisa 19) | 113| 79| 219| 159
---------------------------------------+-----------+-----------+-------+-------
Kasum (kahjum) enne tulumaksustamist | (263)| 37| (358)| (567)
---------------------------------------+-----------+-----------+-------+-------
| | | |
---------------------------------------+-----------+-----------+-------+-------
Aruandeperioodi puhaskasum (-kahjum) | (263)| 37| (358)| (567)
---------------------------------------+-----------+-----------+-------+-------
| | | |
---------------------------------------+-----------+-----------+-------+-------
Tava perioodi puhaskasum aktsia kohta | | | |
(Lisa 12) | (0,06)| 0,01| (0,08)| (0,13)
---------------------------------------+-----------+-----------+-------+-------
Lahustatud perioodi puhaskasum aktsia | | | |
kohta (Lisa 12) | (0,06)| 0,01| (0,08)| (0,13)
KONSOLIDEERITUD RAHAVOOGUDE ARUANNE
tuh EUR |9k 2024|9k 2023
----------------------------------------------------------+-------+-------
Äritegevuse rahavood | |
----------------------------------------------------------+-------+-------
Ärikasum (-kahjum) | (139)| (439)
----------------------------------------------------------+-------+-------
Korrigeerimised: | |
----------------------------------------------------------+-------+-------
Kulum (Lisad 5; 6) | 390| 367
----------------------------------------------------------+-------+-------
Nõuete ja ettemaksete muutus (Lisa 2) | (387)| (217)
----------------------------------------------------------+-------+-------
Varude muutus (Lisa 3) | (144)| 701
----------------------------------------------------------+-------+-------
Äritegevusega seotud kohustiste muutus (Lisa 9) | 353| 234
----------------------------------------------------------+-------+-------
Eraldiste muutus (Lisa 10) | (16)| (15)
----------------------------------------------------------+-------+-------
Äritegevusega genereeritud rahavood | 57| 631
----------------------------------------------------------+-------+-------
| |
----------------------------------------------------------+-------+-------
Intressimaksed (Lisa 19) | (153)| (135)
----------------------------------------------------------+-------+-------
Muud finantstulud ja -kulud | (6)| (24)
----------------------------------------------------------+-------+-------
Äritegevuse rahavood kokku | (102)| 472
----------------------------------------------------------+-------+-------
| |
----------------------------------------------------------+-------+-------
Investeerimistegevuse rahavood | |
----------------------------------------------------------+-------+-------
Materiaalse ja immateriaalse põhivara soetus (Lisad 5; 6)| (153)| (215)
----------------------------------------------------------+-------+-------
Kinnisvarainvesteeringu soetus (Lisa 4) | (40)| 0
----------------------------------------------------------+-------+-------
Investeerimistegevuse rahavood kokku | (193)| (215)
----------------------------------------------------------+-------+-------
| |
----------------------------------------------------------+-------+-------
Finantseerimistegevuse rahavood | |
----------------------------------------------------------+-------+-------
Saadud laenude tagasimaksed (Lisa 9) | (157)| (357)
----------------------------------------------------------+-------+-------
Saadud laenud seotud osapooltelt (Lisa 9) | 200| 200
----------------------------------------------------------+-------+-------
Rendikohustuse põhiosa tagasimaksed (Lisa 9) | (17)| (39)
----------------------------------------------------------+-------+-------
Arvelduskrediidi muutus (Lisa 9) | 270| (17)
----------------------------------------------------------+-------+-------
Finantseerimistegevuse rahavood kokku | 296| (213)
----------------------------------------------------------+-------+-------
| |
----------------------------------------------------------+-------+-------
RAHA JA RAHA EKVIVALENTIDE MUUTUS | 1| 44
----------------------------------------------------------+-------+-------
RAHA JA RAHA EKVIVALENDID PERIOODI ALGUSES | 7| 2
----------------------------------------------------------+-------+-------
RAHA JA RAHA EKVIVALENDID PERIOODI LÕPUS | 8| 46
Enel Äkke
Juhatuse liige
+372 55525550
[email protected]
Pealkiri
Nordic Fibreboard AS unaudited financial report for the third quarter of 2024
Teade
MANAGEMENT REPORT
Consolidated net sales for Q3 2024 were EUR 1.94 million, which was a 8% increase
compared to the same period last year (Q3 2023: EUR 1.79 million). The main
business area is the production and wholesale of softboard, which recorded sales
in Q3 2024 of EUR 1.94 million, (Q3 2023: EUR 1.78 million). The remaining business
area is real estate management of the property owned in Suur-Jõe street in
Pärnu, who recorded sales of EUR 2 thousand in Q3 2024 (Q3 2023: EUR 11 thousand).
Sales revenue in 2024 Q3 increased mainly due to increased orders from
industrial customers and partly due to increased sales volumes in the
construction materials market. The Finnish market brought the largest growth,
while sales volumes in the Baltic countries and other Scandinavian countries
remained unchanged in Q3 2024 compared to the same period last year.
Pärnu Riverside Development OÜ's real estate management revenue on the Suur-Jõe
street property decreased in Q3 2024 compared to the Q3 2023. The decrease in
sales revenue was due to the termination of rental agreements in August 2024.
The rental agreements were terminated due to the specific characteristics of the
production building complex, which caused high communal costs that could not be
covered by rental income.
The consolidated EBITDA of Nordic Fibreboard for Q3 2024 was negative EUR 19
thousand, the EBITDA margin was negative 1% (Q3 2023: EBITDA was positive EUR 238
thousand and the EBITDA margin was positive 13%). Compared to the Q3 2023 the
Group`s gross margin decreased from 27% to 16% in the Q3 2024, which indicates
that the Group`s profitability in the Q3 2024 has decreased compared to the same
period last year.
The negative EBITDA in the Q3 2024 compared to the Q3 was primarily driven by an
increase in the unit cost of production, caused by higher input costs as well as
increased marketing and product development expenses. The rise in marketing and
product development costs reflects a strategic investment aimed at strengthening
sales activities to support revenue growth in future periods.
Financial expenses for the Q3 2024 were EUR 113 thousand, of which EUR 53 thousand
were loan interest costs and EUR 60 thousand were losses from the revaluation of
Trigon Property Development (TPD) shares. Financial expenses for the Q3 2023
were EUR 79 thousand, of which EUR 55 thousand were loan interest costs and EUR 24
thousand were losses from the revaluation of TPD shares.
Group`s consolidated net loss for Q3 2024 was EUR 263 thousand (Q3 2022: profit EUR
37 thousand).
DIVISIONAL REVIEW
Revenue by business segments
EUR thousand | EUR thousand
----------+---------+---------+---------
Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023
---------------------------------------------+---------+---------+---------
Fibreboards production and sales 1,936 | 1,775 | 6,055 | 6,358
---------------------------------------------+---------+---------+---------
Real Estate Management 2 | 11 | 23 | 34
---------------------------------------------+---------+---------+---------
TOTAL 1,938 | 1,786 | 6,078 | 6,392
Profit by business segments
EUR thousand |EUR thousand
--------+-------+-------+-------
Q3 2024|Q3 2023|9M 2024|9M 2023
-----------------------------------------------+-------+-------+-------
EBITDA by business units: | | |
-----------------------------------------------+-------+-------+-------
Fibreboards production and sales (19) |246 |271 |383
-----------------------------------------------+-------+-------+-------
Real Estate Management (6) |(2) |(21) |(19)
-----------------------------------------------+-------+-------+-------
Group transactions 6 |(6) |1 |(30)
-----------------------------------------------+-------+-------+-------
TOTAL EBITDA (19) |238 |251 |334
-----------------------------------------------+-------+-------+-------
Extraordinary other operating expenses 0 |0 |0 |(406*)
-----------------------------------------------+-------+-------+-------
Depreciation (131) |(122) |(390) |(367)
-----------------------------------------------+-------+-------+-------
TOTAL OPERATING PROFIT/ LOSS (150) |116 |(139) |(439)
-----------------------------------------------+-------+-------+-------
Net financial income/ costs (113) |(79) |(219) |(128)
-----------------------------------------------+-------+-------+-------
NET PROFIT/ LOSS (263) |37 |(358) |(567)
* consists of the one-time loss received from the resale of electricity to the
electricity company.
Nordic Fibreboard Ltd: fibreboard production and sales
Fibreboard sales in Q3 2024 were EUR 1.94 million (Q3 2023: EUR 1.78 million). The
growth in sales revenue was mainly supported by increased orders from industrial
customers and improved sales volumes in foreign markets. The Finnish market
showed the highest growth, while sales volumes in the Baltic countries and other
Scandinavian countries remained at the same level compared to the Q3 2023.
The EBITDA of the fiberboard segment for the Q3 2024 was a negative EUR 19
thousand (Q3 2023: positive EUR 246 thousand). The net loss of the fibreboard
segment for the Q3 2024 was EUR 262 thousand (Q3 2024: profit EUR 46 thousand). The
negative EBITDA in the Q3 2024 compared to the Q3 was primarily driven by an
increase in the unit cost of production, caused by higher input costs as well as
increased marketing and product development expenses. The rise in marketing and
product development costs reflects a strategic investment aimed at strengthening
sales activities to support revenue growth in future periods.
Fibreboard sales by geographical segments
EUR thousand | EUR thousand
----------+---------+---------+---------
Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023
---------------------------+---------+---------+---------
European Union 1,789 | 1,537 | 5,588 | 5,855
---------------------------+---------+---------+---------
Africa 89 | 40 | 255 | 133
---------------------------+---------+---------+---------
Middle East 41 | 68 | 96 | 96
---------------------------+---------+---------+---------
Asia 17 | 48 | 102 | 102
---------------------------+---------+---------+---------
Other 0 | 82 | 14 | 172
---------------------------+---------+---------+---------
TOTAL 1,936 | 1,775 | 6,055 | 6,358
Pärnu Riverside Development: real estate management
Pärnu Riverside Development owns the property located at Suur-Jõe 48 in Pärnu.
Rental income from property management was EUR 2 thousand in Q3 2024, (Q3 2023: EUR
11 thousand). Pärnu Riverside Development OÜ property management revenue from
the Suur-Jõe Street property decreased in the Q3 2024 compared to the Q3 2023
due to the termination of rental agreements in August 2024. The decision to
terminate the rental agreements was due to the specific characteristics of the
production building complex, which caused high communal costs, and which could
not be covered by rental income.
The real estate management EBITDA for Q3 2024 were negative EUR 6 thousand and net
loss EUR 6 thousand (Q3 2023: EBITDA negative EUR 2 thousand and net loss EUR 2
thousand).
OUTLOOK
Nordic Fibreboard Ltd
As we approach the end of 2024, we turn our attention to 2025 and its growth
opportunities. While the construction market in Estonia, the Baltic States, and
Scandinavia remains historically weak and short-term forecasts show no
significant recovery, we are instead focusing on the opportunities brought by
changes in building materials and construction methods.
The market for natural and biodegradable materials is growing rapidly. To
respond to this trend, Nordic Fibreboard has invested in product development
and production process improvements and we plan to further increase these
efforts. Close cooperation with key customers from different industries allows
us to understand the needs of the market, and in 2025 we plan to launch new
products and services aimed at both the construction sector and other
industries. In this way, we expand market opportunities and create a competitive
advantage for our customers by offering high-quality and valuable solutions that
meet our customers' needs.
We will also focus on marketing in 2025. The plan is to initiate innovative
collaboration projects, develop marketing platforms, and find new ways to engage
with the construction and industrial sectors, where demand for sustainable
fiberboard solutions is rapidly growing.
In addition, we are preparing to meet the environmental requirements that will
soon come into force. Environmental Product Declarations (EPDs) and compliance
with the requirements of the European Union Deforestation Regulation (EUDR) are
increasingly important for both our industrial customers and other potential
partners.
Pärnu Riverside Development
The development of the property at Suur-Jõe Street 48 in Pärnu continues. The
property has an existing detailed plan, which allows for the development of a
complete residential quarter on the property. At the moment, we are engaged with
land related operations (dividing the property and changing the intended
purpose) and in addition to that we are working on the design of roads,
communications and new residential buildings.
FINANCIAL HIGHLIGHTS
EUR thousand
| | | |
Income statement |Q3 2024 |Q3 2023 |9M 2024 |9M 2023
----------------------------------+----------+----------+----------+----------
Revenue |1,938 |1,786 |6,078 |6,392
----------------------------------+----------+----------+----------+----------
EBITDA |(19) |238 |251 |334
----------------------------------+----------+----------+----------+----------
EBITDA margin |(1%) |13% |4% |5%
----------------------------------+----------+----------+----------+----------
Operating profit |(150) |116 |(139) |(439)
----------------------------------+----------+----------+----------+----------
Operating margin |(8%) |6% |(2%) |(7%)
----------------------------------+----------+----------+----------+----------
Net profit |(263) |37 |(358) |(567)
----------------------------------+----------+----------+----------+----------
Net margin |(14%) |2% |(6%) |(9%)
| | | |
| | | |
Statement of financial position |30.09.2024|31.12.2023|30.09.2023|31.12.2022
----------------------------------+----------+----------+----------+----------
Total assets |8,780 |8,505 |8,897 |9,408
----------------------------------+----------+----------+----------+----------
Return on assets |(4%) |(8%) |(6%) |13%
----------------------------------+----------+----------+----------+----------
Equity |4,044 |4,402 |4,517 |5,084
----------------------------------+----------+----------+----------+----------
Return on equity |(9%) |(16%) |(13%) |24%
----------------------------------+----------+----------+----------+----------
Debt-to-total assets ratio |54% |48% |49% |46%
| | | |
| | | |
Share |30.09.2024|31.12.2023|30.09.2023|31.12.2022
----------------------------------+----------+----------+----------+----------
Last Price* |0.93 |0.90 |1.00 |1.60
----------------------------------+----------+----------+----------+----------
Earnings per share |(0.11) |(0.15) |(0.04) |0.27
----------------------------------+----------+----------+----------+----------
Price-earnings ratio |(8.84) |(5.93) |(24.78) |5.83
----------------------------------+----------+----------+----------+----------
Book value of a share |0.90 |0.98 |1.00 |1.13
----------------------------------+----------+----------+----------+----------
Market to book ratio |1.03 |0.92 |1.00 |1.42
----------------------------------+----------+----------+----------+----------
Market capitalization, EUR thousand|4,184 |4,049 |4,499 |7,198
----------------------------------+----------+----------+----------+----------
Number of shares, piece |4,499,061 |4,499,061 |4,499,061 |4,499,061
CONSOLIDATED STATEMENT OF FINANCIAL POSITIONS
EUR thousand |30.09.2024|31.12.2023|30.09.2023
----------------------------------------------+----------+----------+----------
Cash and cash equivalents |8 |7 |46
----------------------------------------------+----------+----------+----------
Receivables and prepayments (Note 2) |921 |534 |776
----------------------------------------------+----------+----------+----------
Inventories (Note 3) |872 |728 |971
----------------------------------------------+----------+----------+----------
Total current assets |1,801 |1,269 |1,793
----------------------------------------------+----------+----------+----------
| | |
----------------------------------------------+----------+----------+----------
Investment property (Note 4) |2,309 |2,269 |1,859
----------------------------------------------+----------+----------+----------
Financial assets at fair value through profit|431 |491 |674
or loss (Note 7) | | |
----------------------------------------------+----------+----------+----------
Property, plant and equipment (Note 5) |4,236 |4,475 |4,570
----------------------------------------------+----------+----------+----------
Intangible assets (Note 6) |3 |1 |1
----------------------------------------------+----------+----------+----------
Total non-current assets |6,979 |7,236 |7,104
----------------------------------------------+----------+----------+----------
| | |
----------------------------------------------+----------+----------+----------
TOTAL ASSETS |8,780 |8,505 |8,897
----------------------------------------------+----------+----------+----------
| | |
----------------------------------------------+----------+----------+----------
Borrowings (Note 8) |652 |556 |119
----------------------------------------------+----------+----------+----------
Payables and prepayments (Note 9) |1,109 |756 |1,109
----------------------------------------------+----------+----------+----------
Short-term provisions (Note 10) |5 |21 |3
----------------------------------------------+----------+----------+----------
Total current liabilities |1,766 |1,333 |1,231
----------------------------------------------+----------+----------+----------
| | |
----------------------------------------------+----------+----------+----------
Long-term borrowings (Note 8) |2,859 |2,659 |2,883
----------------------------------------------+----------+----------+----------
Long-term payables and prepayments (Note 9) |0 |0 |139
----------------------------------------------+----------+----------+----------
Long-term provisions (Note 10) |111 |111 |127
----------------------------------------------+----------+----------+----------
Total non-current liabilities |2,970 |2,770 |3,149
----------------------------------------------+----------+----------+----------
Total liabilities |4,736 |4,103 |4,380
----------------------------------------------+----------+----------+----------
| | |
----------------------------------------------+----------+----------+----------
Share capital (at nominal value) (Note 11) |450 |450 |450
----------------------------------------------+----------+----------+----------
Statutory reserve capital |45 |45 |45
----------------------------------------------+----------+----------+----------
Retained earnings (loss) |3,549 |3,907 |4,022
----------------------------------------------+----------+----------+----------
Total equity |4,044 |4,402 |4,517
----------------------------------------------+----------+----------+----------
| | |
----------------------------------------------+----------+----------+----------
TOTAL LIABILITIES AND EQUITY |8,780 |8,505 |8,897
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
EUR thousand | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023
---------------------------------------+---------+---------+---------+---------
Revenue (Note 13) | 1,938 | 1,786 | 6,078 | 6,392
---------------------------------------+---------+---------+---------+---------
Cost of goods sold (Note 14) | 1,766 | 1,433 | 5,235 | 5,497
---------------------------------------+---------+---------+---------+---------
Gross profit | 172 | 353 | 843 | 895
---------------------------------------+---------+---------+---------+---------
| | | |
---------------------------------------+---------+---------+---------+---------
Distribution costs (Note 15) | 249 | 133 | 725 | 536
---------------------------------------+---------+---------+---------+---------
Administrative expenses (Note 16) | 69 | 100 | 260 | 374
---------------------------------------+---------+---------+---------+---------
Other operating income (Note 18) | 0 | 0 | 8 | 0
---------------------------------------+---------+---------+---------+---------
Other operating expenses (Note 18) | 4 | 4 | 5 | 424
---------------------------------------+---------+---------+---------+---------
Operating profit (loss) | (150) | 116 | (139) | (439)
---------------------------------------+---------+---------+---------+---------
| | | |
---------------------------------------+---------+---------+---------+---------
Finance income (Note 19) | 0 | 0 | 0 | 31
---------------------------------------+---------+---------+---------+---------
Finance costs (Note 19) | 113 | 79 | 219 | 159
---------------------------------------+---------+---------+---------+---------
Profit (loss) before income tax | (263) | 37 | (358) | (567)
---------------------------------------+---------+---------+---------+---------
| | | |
---------------------------------------+---------+---------+---------+---------
Net profit (loss) for the period | (263) | 37 | (358) | (567)
---------------------------------------+---------+---------+---------+---------
| | | |
---------------------------------------+---------+---------+---------+---------
Basic earnings per share (Note 12) | (0.06) | 0.01 | (0.08) | (0.13)
---------------------------------------+---------+---------+---------+---------
Diluted earnings per share (Note 12) | (0.06) | 0.01 | (0.08) | (0.13)
CONSOLIDATED STATEMENT OF CASH FLOWS
EUR thousand |9M 2024|9M 2023
---------------------------------------------------------------+-------+-------
Cash flows from operating activities | |
---------------------------------------------------------------+-------+-------
Operating profit (loss) |(139) |(439)
---------------------------------------------------------------+-------+-------
Adjustments: | |
---------------------------------------------------------------+-------+-------
Depreciation charge (Notes 5; 6) |390 |367
---------------------------------------------------------------+-------+-------
Profit/loss from disposal of fixed assets (Note 18) |(387) |(217)
---------------------------------------------------------------+-------+-------
Change in trade and other receivables (Note 2) |(144) |701
---------------------------------------------------------------+-------+-------
Change in inventories (Note 3) |353 |234
---------------------------------------------------------------+-------+-------
Change in trade and other payables (Note 9) |(16) |(15)
---------------------------------------------------------------+-------+-------
Change in provisions (Note 10) |57 |631
---------------------------------------------------------------+-------+-------
Cash generated from operations | |
---------------------------------------------------------------+-------+-------
|(153) |(135)
---------------------------------------------------------------+-------+-------
Interest payments (Notes 8; 19) |(6) |(24)
---------------------------------------------------------------+-------+-------
Net other financial income and expense |(102) |472
---------------------------------------------------------------+-------+-------
Net cash generated from operating activities | |
---------------------------------------------------------------+-------+-------
| |
---------------------------------------------------------------+-------+-------
Cash flows from investing activities |(153) |(215)
---------------------------------------------------------------+-------+-------
Purchase of property, plant and equipment and intangible |(40) |0
assets (Notes 5; 6) | |
---------------------------------------------------------------+-------+-------
Purchase of investment property (Note 4) |(193) |(215)
---------------------------------------------------------------+-------+-------
Net cash used in investing activities | |
---------------------------------------------------------------+-------+-------
| |
---------------------------------------------------------------+-------+-------
Cash flows from financing activities |(157) |(357)
---------------------------------------------------------------+-------+-------
Repayment of loans received (Note 8) |200 |200
---------------------------------------------------------------+-------+-------
Loans received from related parties (Note 8) |(17) |(39)
---------------------------------------------------------------+-------+-------
Finance lease payments (Note 8) |270 |(17)
---------------------------------------------------------------+-------+-------
Change in overdraft (Note 8) |296 |(213)
---------------------------------------------------------------+-------+-------
Net cash (used in)/from financing activities | |
---------------------------------------------------------------+-------+-------
|1 |44
---------------------------------------------------------------+-------+-------
NET CHANGE IN CASH |7 |2
---------------------------------------------------------------+-------+-------
OPENING BALANCE OF CASH |8 |46
---------------------------------------------------------------+-------+-------
CLOSING BALANCE OF CASH |(139) |(439)
Enel Äkke
Member of Management Board
+372 55525550
[email protected]