Börsiteade
Nordic Fibreboard AS
LEI kood
54930002HOIXBD15OM06
Emitendi suuruskategooria
Väikekontsern
Majandustegevusalad
Finants- ja kindlustustegevus
Emitendi registreeritud asukoht
Eesti
Üldandmed
Kategooriad
Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
Teate ID
2835
Manused
Esitamise kuupäev ja aeg
12.08.2010 09:02:36
Teate sisu eesti keeles
Pealkiri
Majandustulemused, 6 kuud 2010
Teade
Kasumiaruanne Aruandeaasta II kvartali müügitulu oli 50,5 mln krooni/3,2 mln eurot (2009 aastal 51,1 mln krooni/3,3 mln eurot) mis tähendab 2009 aasta II kvartaliga võrreldes 1%-list vähenemist. Kontserni müügikäibe brutorentaablus oli 2010 aasta II kvartalis 24,8% võrrelduna 2009 aasta II kvartali 23,1%-ga. Konsolideeritud ärikasum oli 3,5 mln krooni/225 tuhat eurot (2009 aasta sama perioodi kasum 0,8 mln krooni/52 tuhat eurot). Konsolideeritud müügikäibe ärirentaablus oli 7,0% (võrrelduna 2009 aasta II kvartali 1,6%-ga). Konsolideeritud puhaskasum oli 3,1 mln krooni/197 tuhat eurot võrrelduna 2009 aasta II kvartali 0,1 mln krooni/5 tuhat eurot ja puhasrentaablus oli 6,1% (võrrelduna 2009 aasta II kvartali 0,2%-ga). 2010 aasta II kvartalis oli kontserni omakapitali puhasrentaablus 4,0% (võrrelduna 2009 aasta II kvartali 0,0%-ga) ja varade puhasrentaablus 2,2% (võrrelduna 2009 aasta II kvartali 0,0%-ga). Finantsseisundi aruanne Kontserni koguvarade maht oli 30.6.2010 seisuga 142,4 mln krooni/9,1 mln eurot (31.12.2009: 132,8 mln krooni/8,5 mln eurot), millest ettevõtte kohustused moodustasid 30.6.2010 seisuga 65,2 mln krooni/4,2 mln eurot (31.12.2009: 61,3 mln krooni/3,9 mln eurot) ehk 46% (31.12.2009: 46%). Nõuded ja ettemaksud on suurenenud 8,2 mln krooni/0,5 mln eurot, kasvades 6 kuuga 44%. Nõuete suurenemise peamiseks põhjuseks on nõrk müük 2009 aasta detsembris, mis vähendas detsembri lõpuks nõuete saldot oluliselt. Varud kasvasid 5,2 mln krooni/0,3 mln eurot, moodustades 30.6.2010 seisuga 47,1 mln krooni/3,0 mln eurot (31.12.2009: 41,9 mln krooni/2,7 mln eurot). Materiaalne ja immateriaalne põhivara kasvas 0,2 mln krooni/0,01 mln eurot. Lühiajalised laenukohustused olid seisuga 30.6.2010 8,1 mln krooni/0,5 mln eurot (31.12.2009: 8,0 mln krooni/0,5 mln eurot) ja kasvasid 6 kuuga kokku 0,1 mln krooni/0,01 mln eurot. Võlad hankijatele, maksukohustused, muud võlad, sh võlad töötajatele ja eraldised moodustasid 26,8 mln kooni/1,7 mln eurot (seisuga 31.12.2009 22,9 mln krooni/1,5 mln eurot). Lühi- ja pikaajalised kohustused kokku kasvasid 3,9 mln krooni/0,2 mln eurot 65,2 mln kroonini/4,2 mln euroni (31.12.2009: 61,3 mln krooni/3,9 mln eurot). Ärivaldkondade ülevaade Käive segmentide lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | % käibest | -------------------------------------------------------------------------------- | | II kv. | II kv. | II kv. | II kv. | II kv. | II kv. | | | 2010 | 2009 | 2010 | 2009 | 2010 | 2009 | -------------------------------------------------------------------------------- | Mööblivabrik | 24 397 | 26 157 | 1 559 | 1 671 | 48,3% | 51,2% | -------------------------------------------------------------------------------- | Skano | 6 468 | 9 396 | 414 | 601 | 12,8% | 18,4% | -------------------------------------------------------------------------------- | Ehitusmaterjali | 22 820 | 19 721 | 1 458 | 1 260 | 45,2% | 38,6% | | de divisjon | | | | | | | -------------------------------------------------------------------------------- | Elimineerimine | (3 177) | (4 137) | (203) | (264) | (6,3%) | (8,1%) | -------------------------------------------------------------------------------- | KOKKU | 50 508 | 51 137 | 3 228 | 3 268 | 100,0% | 100,0% | -------------------------------------------------------------------------------- Käive turgude lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | % käibest | -------------------------------------------------------------------------------- | | II kv. | II kv. | II kv. | II kv. | II kv. | II kv. | | | 2010 | 2009 | 2010 | 2009 | 2010 | 2009 | -------------------------------------------------------------------------------- | Soome | 20 117 | 24 225 | 1 285 | 1 548 | 39,8% | 47,4% | -------------------------------------------------------------------------------- | Venemaa | 11 368 | 6 329 | 728 | 405 | 22,5% | 12,4% | -------------------------------------------------------------------------------- | Eesti | 9 782 | 9 421 | 626 | 602 | 19,4% | 18,4% | -------------------------------------------------------------------------------- | Leedu | 2 218 | 2 763 | 142 | 177 | 4,4% | 5,4% | -------------------------------------------------------------------------------- | Rootsi | 1 820 | 877 | 116 | 56 | 3,6% | 1,7% | -------------------------------------------------------------------------------- | Ukraina | 1 217 | 2 788 | 78 | 178 | 2,4% | 5,5% | -------------------------------------------------------------------------------- | Läti | 1 209 | 1 628 | 78 | 104 | 2,4% | 3,2% | -------------------------------------------------------------------------------- | Kasahstan | 582 | 1 125 | 37 | 72 | 1,2% | 2,2% | -------------------------------------------------------------------------------- | Suurbritannia | 501 | 0 | 32 | 0 | 1,0% | 0,0% | -------------------------------------------------------------------------------- | Saksamaa | 487 | 872 | 30 | 56 | 1,0% | 1,7% | -------------------------------------------------------------------------------- | Taani | 348 | 142 | 22 | 9 | 0,7% | 0,3% | -------------------------------------------------------------------------------- | Malaisia | 236 | 0 | 15 | 0 | 0,5% | 0,0% | -------------------------------------------------------------------------------- | Hiina | 219 | 0 | 14 | 0 | 0,4% | 0,0% | -------------------------------------------------------------------------------- | India | 128 | 7 | 8 | 0 | 0,3% | 0,0% | -------------------------------------------------------------------------------- | Portugal | 0 | 781 | 0 | 49 | 0,0% | 1,5% | -------------------------------------------------------------------------------- | Teised riigid | 276 | 179 | 17 | 12 | 0,4% | 0,3% | -------------------------------------------------------------------------------- | KOKKU | 50 508 | 51 137 | 3 228 | 3 268 | 100,00% | 100,00% | -------------------------------------------------------------------------------- Turgude lõikes on käive vähenenud enim Soomes ning jaekaubandusega seotud turgudel. Kasvanud on käive Venemaal ja Rootsis. Alustatud on müüke Aasiasse. Kasum segmentide lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | -------------------------------------------------------------------------------- | | II kv. | II kv. | II kv. 2010 | II kv. 2009 | | | 2010 | 2009 | | | -------------------------------------------------------------------------------- | Mööblivabrik | 2 570 | 1 580 | 164 | 101 | -------------------------------------------------------------------------------- | Skano | (20) | (1 612) | (2) | (103) | -------------------------------------------------------------------------------- | Ehitusmaterjalide | 1 529 | 637 | 98 | 41 | | divisjon | | | | | -------------------------------------------------------------------------------- | Elimineerimine | (566) | 208 | (35) | 13 | -------------------------------------------------------------------------------- | KOKKU | 3 513 | 813 | 225 | 52 | -------------------------------------------------------------------------------- | Neto finantskulud | (428) | (731) | (28) | (47) | -------------------------------------------------------------------------------- | PUHASKASUM | 3 085 | 82 | 197 | 5 | -------------------------------------------------------------------------------- Skano väiksem kahjum on osaliselt põhjustatud Ukraina grivna tugnemisest. Mööblidivisjon Viisnurga mööblidivisjoni 2010 aasta II kvartali müügitulu oli 27,7 mln krooni/1,8 mln eurot (2009: 31,4 mln krooni/2,0 mln eurot). Võrreldes eelmise aasta sama perioodiga on divisjoni käive vähenenud 3,7 mln krooni/238 tuhat eurot ehk 11,9%. Mööbli jaemüük - Skano AS Viisnurga jaeäri opereerivad OÜ Skano ja selle tütarfirmad Lätis, Leedus ja Ukrainas. Seisuga 30.6.2010 on Skano mööblikaupluste ketis kokku 10 kauplust Tallinnas, Pärnus, Riias, Vilniuses, Kaunases, Kiievis kaks, Donetskis, Harkovis ja Dnepropetrovskis. Teises kvartalis suleti üks kauplus Vilniuses ja avati üks kauplus Dnepropetrovskis. Jaemüük riikide lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | % käibest | Kaupluste arv | -------------------------------------------------------------------------------- | | II kv.| II kv.| II kv. | II kv. | II kv. | II kv. |30.06.10|30.06.09| | | 2010 | 2009 | 2010 | 2009 | 2010 | 2009 | | | -------------------------------------------------------------------------------- | Eesti | 2 521 | 2 878 | 161 | 184 | 39,0% | 30,6% | 2 | 2 | -------------------------------------------------------------------------------- | Läti | 636 | 1 149 | 41 | 73 | 9,8% | 12,2% | 1 | 1 | -------------------------------------------------------------------------------- | Leedu | 2 096 | 2 585 | 134 | 165 | 32,4% | 27,5% | 2 | 3 | -------------------------------------------------------------------------------- | Ukraina| 1 215 | 2 784 | 78 | 178 | 18,8% | 29,6% | 5 | 4 | -------------------------------------------------------------------------------- | KOKKU | 6 468 | 9 396 | 414 | 600 | 100,0% | 100,0% | 10 | 10 | -------------------------------------------------------------------------------- Skano jaemüük on enim vähenenud Lätis ja Ukrainas. 2010 aasta II kvartalis on jaemüük vähenenud 31,2% võrreldes eelmise aasta sama perioodiga. Mööbli tootmine Mööblivabriku 2010 aasta II kvartali müük on ühel põhiturul, Soomes, vähenenud ja teisel, Venemaal, kasvanud. Samuti on vähenenud müük Skanole. Mööblivabrikus oli 2010 aasta II kvartali müügitulu 24,4 mln krooni/1,6 mln eurot ja kasum 2,6 mln krooni/0,2 mln eurot. Eelmise aasta samal perioodil oli mööblivabriku käive 26,2 mln krooni/1,8 mln eurot ja kasum 1,6 mln krooni/0,1 mln eurot. Võrreldes eelmise aasta sama perioodiga on vabriku käive vähenenud 1,8 mln krooni/0,1 mln eurot ja kasum kasvanud 1,0 mln krooni/0,1 mln eurot. Käive riikide lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | % käibest | -------------------------------------------------------------------------------- | | II kv. | II kv. | II kv. | II kv. | II kv. | II kv. | | | 2010 | 2009 | 2010 | 2009 | 2010 | 2009 | -------------------------------------------------------------------------------- | Soome | 11 479 | 14 868 | 734 | 950 | 47,1% | 56,8% | -------------------------------------------------------------------------------- | Venemaa | 8 770 | 5 296 | 561 | 338 | 35,9% | 20,2% | -------------------------------------------------------------------------------- | Kasahstan | 582 | 1 125 | 37 | 72 | 2,4% | 4,3% | -------------------------------------------------------------------------------- | Saksamaa | 3 | 382 | 0 | 24 | 0,0% | 1,5% | -------------------------------------------------------------------------------- | Teised riigid | 386 | 349 | 25 | 22 | 1,6% | 1,2% | -------------------------------------------------------------------------------- | Tütarettevõtt | 3 177 | 4 137 | 203 | 264 | 13,0% | 15,8% | | ed | | | | | | | -------------------------------------------------------------------------------- | KOKKU | 24 397 | 26 157 | 1 560 | 1 670 | 100,0% | 100,0% | -------------------------------------------------------------------------------- Ehitusmaterjalide divisjon Ehitusmaterjalide divisjonis oli 2010 aasta II kvartali müügituluks 22,8 mln krooni/1,5 mln eurot ja kasumiks 1,5 mln krooni/0,1 mln eurot. Eelmise aasta samal perioodil oli divisjoni käive 19,7 mln krooni/1,3 mln eurot ja kasumiks 0,6 mln krooni/41 tuhat eurot. Võrreldes eelmise aasta sama perioodiga on divisjoni käive kasvanud 3,1 mln krooni/0,2 mln eurot ja kasum kasvanud 0,9 mln krooni/57 tuhat eurot. Käive riikide lõikes -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | % käibest | -------------------------------------------------------------------------------- | | II kv. | II kv. | II kv. | II kv. | II kv. | II kv. | | | 2010 | 2009 | 2010 | 2009 | 2010 | 2009 | -------------------------------------------------------------------------------- | Soome | 8 638 | 9 357 | 552 | 598 | 37,9% | 47,4% | -------------------------------------------------------------------------------- | Eesti | 6 875 | 6 271 | 439 | 401 | 30,1% | 31,8% | -------------------------------------------------------------------------------- | Venemaa | 2 598 | 1 033 | 166 | 66 | 11,4% | 5,2% | -------------------------------------------------------------------------------- | Rootsi | 1 820 | 877 | 116 | 56 | 8,0% | 4,4% | -------------------------------------------------------------------------------- | Läti | 574 | 479 | 37 | 31 | 2,5% | 2,4% | -------------------------------------------------------------------------------- | Suurbritannia | 501 | 0 | 32 | 0 | 2,2% | 0,0% | -------------------------------------------------------------------------------- | Saksamaa | 484 | 490 | 31 | 31 | 2,1% | 2,5% | -------------------------------------------------------------------------------- | Taani | 349 | 121 | 22 | 8 | 1,5% | 0,6% | -------------------------------------------------------------------------------- | Malaisia | 236 | 0 | 15 | 0 | 1,0% | 0,0% | -------------------------------------------------------------------------------- | Hiina | 219 | 0 | 14 | 0 | 1,0% | 0,0% | -------------------------------------------------------------------------------- | India | 128 | 7 | 8 | 0 | 0,6% | 0,0% | -------------------------------------------------------------------------------- | Leedu | 122 | 179 | 8 | 11 | 0,5% | 0,9% | -------------------------------------------------------------------------------- | Ukraina | 1 | 4 | 0 | 0 | 0,0% | 0,0% | -------------------------------------------------------------------------------- | Portugal | 0 | 781 | 0 | 50 | 0,0% | 4,0% | -------------------------------------------------------------------------------- | Teised riigid | 276 | 122 | 18 | 8 | 1,2% | 0,6% | -------------------------------------------------------------------------------- | KOKKU | 22 820 | 19 721 | 1 458 | 1 260 | 100,0% | 100,0% | -------------------------------------------------------------------------------- Prognoos ja areng Skano. Usume, et Ukraina on saavutanud poliitilise stabiilsuse ning see parandab ka selle riigi majanduskliimat. Oleme leidnud sobiva hinna ning kvaliteediga pinnad ning plaanime avada kolmandas kvartalis ühe kaupluse Dnepropetrovskis ja ühe Kiievis. Mööblivabrik. 2010 aastaks prognoosime jätkuvalt väikest käivet nii jaemüügis kui ka turgudel, kus AS Viisnurk ise mööbli jaekaubandusega ei tegele ning seeläbi ka jätkuvalt väikest töömahtu mööblivabrikus. Töötajatega on sõlmitud kokkulepped lühendatud tööaja kasutamiseks kuni 31.3.2011. Ehitusmaterjalide divisjon. 2010 aasta kolmandas kvartalis jätkatakse tööd vähendatud võimsusega. Põhitootmisliinil jätkub tootmine kolme vahetusega nelja vahetuse asemel. Isotexi liinidel kasutatakse vastavalt vajadusele ühte või kahte vahetust. Samas usume siiski turgude mõningasse elavnemisesse ning prognoosime kolmandas kvartalis müügi ja tootmise kasvu. AS Fortum Termest on teatanud, et lõpetab AS-le Viisnurk kuuluva katlamaja operaatorlepingu alates 3.2.2011. Lepingu lõppemisel jätkab katlamajas soojatootmist AS Viisnurk. Konsolideeritud finantsseisundi aruanne -------------------------------------------------------------------------------- | | tuh EEK | tuh EEK | tuh EUR | tuh EUR | -------------------------------------------------------------------------------- | | 30.06.2010 | 31.12.2009 | 30.06.2010 | 31.12.2009 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Raha | 2 100 | 6 091 | 134 | 389 | -------------------------------------------------------------------------------- | Nõuded ja ettemaksud | 27 001 | 18 810 | 1 725 | 1 202 | -------------------------------------------------------------------------------- | Varud | 47 115 | 41 912 | 3 011 | 2 680 | -------------------------------------------------------------------------------- | Käibevara kokku | 76 216 | 66 813 | 4 870 | 4 271 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kinnisvarainvesteeringud | 2 893 | 2 893 | 185 | 185 | -------------------------------------------------------------------------------- | Materiaalne põhivara | 63 270 | 63 083 | 4 044 | 4 031 | -------------------------------------------------------------------------------- | Immateriaalne põhivara | 11 | 14 | 1 | 1 | -------------------------------------------------------------------------------- | Põhivara kokku | 66 174 | 65 990 | 4 230 | 4 217 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | AKTIVA KOKKU | 142 390 | 132 803 | 9 100 | 8 488 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Laenukohustused | 8 130 | 8 048 | 520 | 514 | -------------------------------------------------------------------------------- | Võlad ja ettemaksed | 26 702 | 22 742 | 1 706 | 1 454 | -------------------------------------------------------------------------------- | Lühiajalised eraldised | 54 | 118 | 3 | 8 | -------------------------------------------------------------------------------- | Lühiajalised kohustused | 34 886 | 30 908 | 2 229 | 1 976 | | kokku | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Pikaajalised | 27 084 | 27 084 | 1 731 | 1 731 | | laenukohustused | | | | | -------------------------------------------------------------------------------- | Pikaajalised eraldised | 3 225 | 3 303 | 206 | 211 | -------------------------------------------------------------------------------- | Pikaajalised kohustused | 30 309 | 30 387 | 1 937 | 1 942 | | kokku | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kohustused kokku | 65 195 | 61 295 | 4 166 | 3 918 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Aktsiakapital | 44 991 | 44 991 | 2 875 | 2 875 | | nimiväärtuses | | | | | -------------------------------------------------------------------------------- | Ülekurss | 5 698 | 5 698 | 364 | 364 | -------------------------------------------------------------------------------- | Kohustuslik | 4 499 | 4 499 | 288 | 288 | | reservkapital | | | | | -------------------------------------------------------------------------------- | Muud reservid | (5) | 406 | 0 | 26 | -------------------------------------------------------------------------------- | Eelmiste perioodide | 15 914 | 15 759 | 1 017 | 1 007 | | jaotamata kasum | | | | | -------------------------------------------------------------------------------- | Aruandeaasta kasum | 6 098 | 155 | 390 | 10 | -------------------------------------------------------------------------------- | Omakapital kokku | 77 195 | 71 508 | 4 934 | 4 570 | | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | PASSIVA KOKKU | 142 390 | 132 803 | 9 100 | 8 488 | -------------------------------------------------------------------------------- Konsolideeritud kasumiaruanne -------------------------------------------------------------------------------- | | tuh EEK | tuh EUR | tuh EEK | tuh EUR | -------------------------------------------------------------------------------- | | 6 kuud | 6 kuud | 6 kuud | 6 kuud | | | 2010 | 2009 | 2010 | 2009 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müügitulu | 99 510 | 104 223 | 6 360 | 6 661 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Müüdud toodangu kulu | (75 008) | (82 052) | (4 794) | (5 244) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Brutokasum | 24 502 | 22 171 | 1 566 | 1 417 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Turustuskulud | (14 707) | (17 816) | (940) | (1 138) | -------------------------------------------------------------------------------- | Üldhalduskulud | (3 484) | (3 032) | (223) | (194) | -------------------------------------------------------------------------------- | Muud äritulud | 1 217 | 1 332 | 78 | 85 | | | | | | | -------------------------------------------------------------------------------- | Muud ärikulud | (589) | (1 576) | (38) | (101) | | | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Ärikasum | 6 939 | 1 079 | 443 | 69 | -------------------------------------------------------------------------------- | Neto finantskulu | (841) | (1 670) | (53) | (107) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Kasum (kahjum) enne | 6 098 | (591) | 390 | (38) | | tulumaksu | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Perioodi puhaskasum | 6 098 | (591) | 390 | (38) | | (kahjum) | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Valuutakursside muutuste | (411) | 223 | (26) | 16 | | mõju konsolideerimisel | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Perioodi koondkasum | 5 687 | (368) | 364 | (22) | | (kahjum) | | | | | -------------------------------------------------------------------------------- | Tava puhaskasum (kahjum) | 1,36 | (0,13) | 0,09 | (0,01) | | aktsia kohta | | | | | -------------------------------------------------------------------------------- | Lahustatud puhaskasum | 1,36 | (0,13) | 0,09 | (0,01) | | (kahjum) aktsia kohta | | | | | -------------------------------------------------------------------------------- Einar Pähkel Finantsdirektor 447 8331 [email protected]
Teate sisu inglise keeles
Pealkiri
Viisnurk financial result, 6 months of 2010
Teade
Income statement Consolidated net sales of second quarter 2010 was 50.5 mil. kroons/3.2 mil. euros (51.1 mil. kroons/3.3 mil. euros in same period of 2009) representing a 1% decrease on the second quarter compared to Q2 2009. The Group's gross margin in the second quarter of 2010 was 24.8% compared to 23.1% in the second quarter of 2009. Consolidated operating profit amounted to 3.5 mil. kroons/225 thousand euros (0.8 mil. kroons/52 thousand euros in 2009). The consolidated operating margin of net sales was 7.0% (up from 1.6% in Q2 2009). Consolidated net profit amounted to 3.1 mil. kroons/197 thousand euros in Q2 2010 (0.1 mil. kroons/5 thousand euros in Q2 2009), and the net margin was 6.1% (0.2% in Q2 2009). In Q2 2010, the Group's return on equity was 4.0% (0.0% in Q2 2009) and return on assets was 2.2% (0.0% in Q2 2009). Position of financial statement As of 30.6.2010 the total assets of Viisnurk amounted to 142.4 mil. kroons/9.1 mil. euros (31.12.2009: 132.8 mil. kroons/8.5 mil. euros). The liabilities of the company accounted for 46% (31.12.2009: 46.2%) thereof, i.e. 65.2 mil. kroons/4.2 mil. euros (31.12.2009: 61.3 mil. kroons/3.9 mil. euros). Receivables and prepayments have increased by 8.2 mil. kroons/0.5 mil. euros i.e. 44% decrease with 6 months. The reason of increase of receivables is small sales in December 2009, which essentially lowered the amount of receivables at the end of December. Inventories increased by 5.2 mil. kroons/0.3 mil. euros to reach 47.1 mil. kroons/3.0 mil. euros on 30.6.2010. (31.12.2009: 41.9 mil. kroons/2.7 mil. euros). Property, plant and intangibles increased by 0.2 mil. kroons/0.01 mil. euros. Short-term loans decreased by 0.1 mil. kroons/0.01 mil. euros and amounted to 8.1 mil. kroons/0.5 mil. euros in 30.6.2010 (31.12.2009: 8.0 mil. kroons/0.5 mil. euros). Supplier payables, tax liabilities, other payables, including payables to employees, and provisions amounted to 26.8 mil. kroons/1.7 mil. euros (31.12.2009: 22.9 mil. kroons/1.5 mil. euros). Current and non-current liabilities increased by 3.9 mil. kroons/0.2 mil. euros to 65.2 mil. kroons/4.2 mil. euros (31.12.2009: 61.3 mil. kroons/3.9 mil. euros). Divisional review: Net sales by business segments -------------------------------------------------------------------------------- | | th. EEK | th. EUR | % of net sales | -------------------------------------------------------------------------------- | | Q2 2010 | Q2 2009 | Q2 2010 | Q2 2009 | Q2 2010 | Q2 2009 | -------------------------------------------------------------------------------- | Furniture | 24,397 | 26,157 | 1,559 | 1,671 | 48.3% | 51.2% | | Factory | | | | | | | -------------------------------------------------------------------------------- | Skano | 6,468 | 9,396 | 414 | 601 | 12.8% | 18.4% | -------------------------------------------------------------------------------- | Building | 22,820 | 19,721 | 1,458 | 1,260 | 45.2% | 38.6% | | Materials | | | | | | | | Division | | | | | | | -------------------------------------------------------------------------------- | Elimination | (3,177) | (4,137) | (203) | (264) | (6.3%) | (8.1%) | -------------------------------------------------------------------------------- | TOTAL | 50,508 | 51,137 | 3,228 | 3,268 | 100.0% | 100.0% | -------------------------------------------------------------------------------- Net sales by geographical segments -------------------------------------------------------------------------------- | | th. EEK | th. EUR | % of net sales | -------------------------------------------------------------------------------- | | Q2 2010 | Q2 2009 | Q2 2010 | Q2 2009 | Q2 2010 | Q2 2009 | -------------------------------------------------------------------------------- | Finland | 20,117 | 24,225 | 1,285 | 1,548 | 39.8% | 47.4% | -------------------------------------------------------------------------------- | Russia | 11,368 | 6,329 | 728 | 406 | 22.5% | 12.4% | -------------------------------------------------------------------------------- | Estonia | 9,782 | 9,421 | 626 | 602 | 19.4% | 18.4% | -------------------------------------------------------------------------------- | Lithuania | 2,218 | 2,763 | 142 | 176 | 4.4% | 5.4% | -------------------------------------------------------------------------------- | Sweden | 1,820 | 877 | 116 | 56 | 3.6% | 1.7% | -------------------------------------------------------------------------------- | Ukraine | 1,217 | 2,788 | 78 | 178 | 2.4% | 5.5% | -------------------------------------------------------------------------------- | Latvia | 1,209 | 1,628 | 78 | 104 | 2.4% | 3.2% | -------------------------------------------------------------------------------- | Kazakhstan | 582 | 1,125 | 37 | 72 | 1.2% | 2.2% | -------------------------------------------------------------------------------- | Great Britain | 501 | 0 | 32 | 0 | 1.0% | 0.0% | -------------------------------------------------------------------------------- | Germany | 487 | 872 | 30 | 56 | 1.0% | 1.7% | -------------------------------------------------------------------------------- | Denmark | 348 | 142 | 22 | 9 | 0.7% | 0.3% | -------------------------------------------------------------------------------- | Malaysia | 236 | 0 | 15 | 0 | 0.5% | 0.0% | -------------------------------------------------------------------------------- | China | 219 | 0 | 14 | 0 | 0.4% | 0.0% | -------------------------------------------------------------------------------- | India | 128 | 7 | 8 | 0 | 0.3% | 0.0% | -------------------------------------------------------------------------------- | Portugal | 0 | 781 | 0 | 49 | 0.0% | 1.5% | -------------------------------------------------------------------------------- | Other countries | 276 | 179 | 17 | 12 | 0.4% | 0.3% | -------------------------------------------------------------------------------- | Total | 50,508 | 51,137 | 3,228 | 3,268 | 100.00% | 100.00% | -------------------------------------------------------------------------------- Concerning the markets, turnover has been decreased in Finland and retail stores related markets. There are increased sales into Russia and Sweden. Sales into Asia has initiated. Profit by business segments -------------------------------------------------------------------------------- | | th. EEK | th. EUR | -------------------------------------------------------------------------------- | | Q2 2010 | Q2 2009 | Q2 2010 | Q2 2009 | -------------------------------------------------------------------------------- | Furniture Factory | 2,570 | 1,579 | 164 | 101 | -------------------------------------------------------------------------------- | Skano | (20) | (1,609) | (2) | (103) | -------------------------------------------------------------------------------- | Building Materials | 1,529 | 637 | 98 | 41 | | Division | | | | | -------------------------------------------------------------------------------- | Elimination | (566) | 208 | (35) | 13 | -------------------------------------------------------------------------------- | TOTAL | 3,513 | 813 | 225 | 52 | -------------------------------------------------------------------------------- | Net financial costs | (428) | (731) | (28) | (47) | -------------------------------------------------------------------------------- | NET PROFIT | 3,085 | 82 | 197 | 5 | -------------------------------------------------------------------------------- Smaller loss of Skano is partially caused by strengthening of Ukrainian hryvnia. Furniture Division The net sales of AS Viisnurk Furniture Division in second quarter amounted to 27.7 mil. kroons/1.8 mil. euros (2009: 31.4 mil. kroons/2.0 mil. euros). As compared to the Q2 of previous year the turnover of the division has decreased by 3.7 mil. kroons/238 thousand euros (11.9%). Furniture Retail - Skano AS Viisnurk retail business is operated by a private limited company OÜ Skano and its subsidiaries in Latvia, Lithuania and Ukraine. Skano has totally 10 stores in Tallinn, Pärnu, Riga, Vilnius, Kaunas, Kiev (2), Donetsk, Kharkiv and Dnipropetrovs'k at the end of the second quarter. There were closed one store in Vilnius and opened one store in Dnipropetrovs'k in second quarter. Retail sales by countries -------------------------------------------------------------------------------- | | th. EEK | th. EUR | % of net sales | Number of stores | -------------------------------------------------------------------------------- | | Q2 | Q2 | Q2 | Q2 | Q2 | Q2 | 30.6.10| 30.6.09 | | | 2010 | 2009 | 2010 | 2009 | 2010 | 2009 | | | -------------------------------------------------------------------------------- | Estonia | 2,521 | 2,878 | 161 | 184 | 39.0% | 30.6% | 2 | 2 | -------------------------------------------------------------------------------- | Latvia | 636 | 1,149 | 41 | 73 | 9.8% | 12.2% | 1 | 1 | -------------------------------------------------------------------------------- | Lithuan | 2,096 | 2,585 | 134 | 165 | 32.4% | 27.5% | 2 | 3 | | ia | | | | | | | | | -------------------------------------------------------------------------------- | Ukraine | 1,215 | 2,784 | 78 | 178 | 18.8% | 29.6% | 5 | 4 | -------------------------------------------------------------------------------- | TOTAL | 6,468 | 9,396 | 414 | 600 | 100.0% | 100.0% | 10 | 10 | -------------------------------------------------------------------------------- The retail sale of the Furniture Division decreased most in Latvia and Ukraine. Within the second quarter this year the retail sale has decreased by 31.2% as compared to the same period last year. Furniture Factory The Furniture Factory's sales in the second quarter in the company's basic target market in Russia have increased and in Finland have decreased. Sales to Skano have also decreased. The net sales of the Furniture Factory in second quarter amounted to 24.4 mil. kroons/1.6 mil. euros and profit to 2.6 mil. kroons/0.2 mil. euros. In the same period of the last year, the turnover of the division totalled 26.2 mil. kroons/1.8 mil. euros and the net profit 1.6 mil. kroons/0.1 thousand euros. As compared to the previous year the turnover of the division has decreased by 1.8 mil. kroons/0.1 mil. euros and the profit has increased by 1.0 mil. kroons/0.1 mil. euros. Furniture Factory sales by countries -------------------------------------------------------------------------------- | | th EEK | th EUR | % of net sales | -------------------------------------------------------------------------------- | | Q2 2010 | Q2 2009 | Q2 2010 | Q2 2009 | Q2 2010 | Q2 2009 | -------------------------------------------------------------------------------- | Russia | 11,479 | 14,868 | 734 | 950 | 47.1% | 56.8% | -------------------------------------------------------------------------------- | Finland | 8,770 | 5,296 | 561 | 338 | 35.9% | 20.2% | -------------------------------------------------------------------------------- | Kazakhstan | 582 | 1,125 | 37 | 72 | 2.4% | 4.3% | -------------------------------------------------------------------------------- | Estonia | 3 | 382 | 0 | 24 | 0.0% | 1.5% | -------------------------------------------------------------------------------- | Others | 386 | 349 | 25 | 22 | 1.6% | 1.3% | -------------------------------------------------------------------------------- | Subsidiarie | 3,177 | 4,137 | 203 | 264 | 13.0% | 15.8% | | s | | | | | | | -------------------------------------------------------------------------------- | TOTAL | 24,397 | 26,157 | 1,560 | 1,670 | 100.0% | 100.0% | -------------------------------------------------------------------------------- Building Materials Division The net sales of the Building Materials Division in second quarter amounted to 22.8 mil. kroons/1.5 mil. euros and profit to 1.5 mil. kroons/0.1 mil. euros. In the same period of the last year, the turnover of the division totalled 19.7 mil. kroons/1.3 mil. euros and the net profit 0.6 mil. kroons/41 thousand euros. As compared to the previous year the turnover of the division has increased by 3.1 mil. kroons/0.2 mil. euros and the profit has increased by 0.9 mil. kroons/57 thousand euros. Net sales by geographical segments -------------------------------------------------------------------------------- | | th. EEK | th. EUR | % of net sales | -------------------------------------------------------------------------------- | | Q2 2010 | Q2 2009 | Q2 2010 | Q2 2009 | Q2 2010 | Q2 2009 | -------------------------------------------------------------------------------- | Finland | 8,638 | 9,357 | 552 | 598 | 37.9% | 47.4% | -------------------------------------------------------------------------------- | Estonia | 6,875 | 6,271 | 439 | 401 | 30.1% | 31.8% | -------------------------------------------------------------------------------- | Russia | 2,598 | 1,033 | 166 | 66 | 11.4% | 5.2% | -------------------------------------------------------------------------------- | Sweden | 1,820 | 877 | 116 | 56 | 8.0% | 4.4% | -------------------------------------------------------------------------------- | Latvia | 574 | 479 | 37 | 31 | 2.5% | 2.4% | -------------------------------------------------------------------------------- | Great Britain | 501 | 0 | 32 | 0 | 2.2% | 0.0% | -------------------------------------------------------------------------------- | Germany | 484 | 490 | 31 | 31 | 2.1% | 2.5% | -------------------------------------------------------------------------------- | Denmark | 349 | 121 | 22 | 8 | 1.5% | 0.6% | -------------------------------------------------------------------------------- | Malaysia | 236 | 0 | 15 | 0 | 1.0% | 0.0% | -------------------------------------------------------------------------------- | China | 219 | 0 | 14 | 0 | 1.0% | 0.0% | -------------------------------------------------------------------------------- | India | 128 | 7 | 8 | 0 | 0.6% | 0.0% | -------------------------------------------------------------------------------- | Lithuania | 122 | 179 | 8 | 11 | 0.5% | 0.9% | -------------------------------------------------------------------------------- | Ukraine | 1 | 4 | 0 | 0 | 0.0% | 0.0% | -------------------------------------------------------------------------------- | Portugal | 0 | 781 | 0 | 50 | 0.0% | 4.0% | -------------------------------------------------------------------------------- | Other countries | 276 | 122 | 18 | 8 | 1.2% | 0.6% | -------------------------------------------------------------------------------- | TOTAL | 22,820 | 19,721 | 1,458 | 1,260 | 100.0% | 100.0% | -------------------------------------------------------------------------------- Forecast and development Skano. Management believes that Ukraine has gained political stability and it improves its economical conditions. We have found suitable premises with good price and quality and will plan to open in third quarter one store in Dnipropetrovs'k and one store in Kiev. Furniture Factory. For 2010 management forecasts continuously small sales in retail market, also in markets not related in Skano retail business, and it means continuously small production volume in furniture factory. Agreements with employees to use shortened working time are effective until 31.03.2011. Building Materials Division. In third quarter of 2010 factory continues with decreased production volume. In main production line factory continues with three shifts instead of four. In Isotex line are used one or two shifts accordingly the demand of clients. Management believes into small recovery of markets and forecasts growth of sales and production in third quarter. AS Fortum Termest informed the company for ending the operating contract of boiler-house belonging to AS Viisnurk. After the end of contract AS Viisnurk continues heat production by itself. Consolidated balance sheet -------------------------------------------------------------------------------- | | Th EEK | Th EEK | Th EUR | Th EUR | -------------------------------------------------------------------------------- | | 30.6.2010 | 31.12.2009| 30.6.2010 | 31.12.2009 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Cash and bank | 2,100 | 6,091 | 134 | 389 | -------------------------------------------------------------------------------- | Receivables and | 27,001 | 18,810 | 1,725 | 1,202 | | prepayments | | | | | -------------------------------------------------------------------------------- | Inventories | 47,115 | 41,912 | 3,011 | 2,680 | -------------------------------------------------------------------------------- | Total current assets | 76,216 | 66,813 | 4,870 | 4,271 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Investment property | 2,893 | 2,893 | 185 | 185 | -------------------------------------------------------------------------------- | Tangible fixed assets | 63,270 | 63,083 | 4,044 | 4,031 | -------------------------------------------------------------------------------- | Intangible fixed assets | 11 | 14 | 1 | 1 | -------------------------------------------------------------------------------- | Total fixed assets | 66,174 | 65,990 | 4,230 | 4,217 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL ASSETS | 142,390 | 132,803 | 9,100 | 8,488 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Debt obligations | 8,130 | 8,048 | 520 | 514 | -------------------------------------------------------------------------------- | Payables and prepayments | 26,702 | 22,742 | 1,706 | 1,454 | -------------------------------------------------------------------------------- | Short-term provisions | 54 | 118 | 3 | 8 | -------------------------------------------------------------------------------- | Total current liabilities | 34,886 | 30,908 | 2,229 | 1,976 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Non-current debt | 27,084 | 27,084 | 1,731 | 1,731 | | obligations | | | | | -------------------------------------------------------------------------------- | Non-current provisions | 3,225 | 3,303 | 206 | 211 | -------------------------------------------------------------------------------- | Total non-current | 30,309 | 30,387 | 1,937 | 1,942 | | liabilities | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Total liabilities | 65,195 | 61,295 | 4,166 | 3,918 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Share capital at nominal | 44,991 | 44,991 | 2,875 | 2,875 | | value | | | | | -------------------------------------------------------------------------------- | Issue premium | 5,698 | 5,698 | 364 | 364 | -------------------------------------------------------------------------------- | Statutory capital reserve | 4,499 | 4,499 | 288 | 288 | -------------------------------------------------------------------------------- | Currency translation | (5) | 406 | 0 | 26 | | reserve | | | | | -------------------------------------------------------------------------------- | Retained profits | 15,914 | 15,759 | 1,017 | 1,007 | -------------------------------------------------------------------------------- | Net profit for the year | 6,098 | 155 | 390 | 10 | -------------------------------------------------------------------------------- | Total equity | 77,195 | 71,508 | 4,934 | 4,570 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL LIABILITIES AND | 142,390 | 132,803 | 9,100 | 8,488 | | EQUITY | | | | | -------------------------------------------------------------------------------- Consolidated income statement -------------------------------------------------------------------------------- | | Th EEK | Th EEK | Th EUR | Th EUR | -------------------------------------------------------------------------------- | | 6 m 2010 | 6 m 2009 | 6 m 2010 | 6 m 2009 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | RETURN ON SALES | 99,510 | 104,223 | 6,360 | 6,661 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Cost of production sold | (75,008) | (82,052) | (4,794) | (5,244) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Gross profit | 24,502 | 22,171 | 1,566 | 1,417 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Marketing expenses | (14,707) | (17,816) | (940) | (1,138) | -------------------------------------------------------------------------------- | General administrative | (3,484) | (3,032) | (223) | (194) | | expenses | | | | | -------------------------------------------------------------------------------- | Other income | 1,217 | 1,332 | 78 | 85 | -------------------------------------------------------------------------------- | Other expenses | (589) | (1,576) | (38) | (101) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Operating profit | 6,939 | 1,079 | 443 | 69 | -------------------------------------------------------------------------------- | Financial income and | (841) | (1,670) | (53) | (107) | | financial expenses | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Profit (loss) before | 6,098 | (591) | 390 | (38) | | taxes | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | NET PROFIT (LOSS) FOR | 6,098 | (591) | 390 | (38) | | THE PERIOD | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Basic earnings per | 1.36 | (0.13) | 0.09 | (0.01) | | share | | | | | -------------------------------------------------------------------------------- | Diluted earnings per | 1.36 | (0.13) | 0.09 | (0.01) | | share | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Currency translation | (411) | 223 | (26) | 16 | | differences | | | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | TOTAL COMPREHENSIVE | 5,687 | (368) | 364 | (22) | | INCOME | | | | | -------------------------------------------------------------------------------- Einar Pähkel CFO +372 447 8331 [email protected]