Börsiteade
AS Silvano Fashion Group
LEI kood
529900JNG41RRJKJYB65
Emitendi suuruskategooria
Suur kontsern
Majandustegevusalad
Finants- ja kindlustustegevus
Emitendi registreeritud asukoht
Eesti
Üldandmed
Kategooriad
Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
Teate ID
4448
Manused
Esitamise kuupäev ja aeg
09.05.2014 08:30:00
Teate sisu eesti keeles
Pealkiri
2014. aasta I kvartali konsolideeritud vahearuanne (auditeerimata)
Teade
Tallinn, 2014-05-09 07:30 CEST (GLOBE NEWSWIRE) --
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Valikulised finantsnäitajad</span></span><span
style="font-family:Arial, Helvetica, sans-serif;font-size:10pt;"> </span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Kontserni 2014. aasta I kvartali (võrrelduna 2013. aasta I
kvartaliga) ja 31.03.2014 (võrrelduna 31.12.2013) valikulised finantsnäitajad
on järgmised:</span></span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">I kvartal <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">I kvartal <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Muutus
style
2014</span></span>
2013</span></span>
</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">tuha
ndetes
eurod
es</sp
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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----------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">27 095</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">32 059</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-15,5%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Müüg
itulu<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">4 547</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">4 832</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-5,9%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">EBIT
DA</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">2 191</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">3 834</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-42,9%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Arua
ndeper
ioodi
puhas
kasum<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">1 890</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">3 527</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-46,4%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Puha
skasum
,
emaet
tevõtt
e
omani
ke
osa</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">0,05</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">0,09</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-46,1%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Kasu
m
aktsi
a
kohta
(euro
des)</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">753</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">348</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">116,2%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Ärit
egevus
e
rahav
oog
perio
odil</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">31.03.2014</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">31.12.2013</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Muutus
style
</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">tuha
ndetes
eurod
es</sp
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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--------------------------------------------------------------------------------
------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">78 581</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">76 629</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">2,5%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Vara
d
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">57 214</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">55 080</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">3,9%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Käib
evarad
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">53 487</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">52 370</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">2,1%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Omak
apital
kokku
,
emaet
tevõtt
e
omani
ke
osa</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">86</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">79</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">8,9%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Laen
ukohus
tused<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">15 919</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">19 165</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-16,9%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Raha
ja
raha
ekviv
alendi
d</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">I kvartal <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">I kvartal
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Muutus
style
2014</span></span>
2013</span></span>
</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Rent
aablus
analüü
s,
%</sp
an></s
pan>
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------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">34,7</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">31,8</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">9,3%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Brut
okasum
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">16,8</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">15,1</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">11,3%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">EBIT
DA</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">8,1</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">12,0</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-32,4%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Puha
skasum
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">7,0</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">11,0</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-36,6%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Puha
skasum
,
emaet
tevõtt
e
omani
ke
osa</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">31.03.2014</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">31.12.2013</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Muutus
style
</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Fina
ntssuh
tarvud
,
%</sp
an></s
pan>
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------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">11,7</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">13,4</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-12,7%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">ROA<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">17,3</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">19,9</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-13,2%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">ROE<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">9,1</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">9,5</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-3,6%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Hinn
a/
kasum
i
suhe<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">4,1</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">4,7</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-12,5%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Lühi
ajalis
te
kohus
tuste
katte
kordaj
a</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">2,2</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2,6</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-14,5%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Likv
iidsus
kordaj
a</spa
n></sp
an>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Konsolideeritud finantsseisundi aruanne</span></span><span
style="font-family:Arial, Helvetica, sans-serif;font-size:10pt;"> </span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">31.03.2014</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">31.12.2013</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">tuha
ndetes
eurod
es</sp
an></s
pan>
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">VARA
D</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Käib
evara<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">15 919</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">19 165</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Raha
ja
panga
kontod
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">717</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">196</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Ette
maksed
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">14 034</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">10 846</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Nõud
ed
ostja
te
vastu
ja
muud
nõude
d</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">26 544</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">24 873</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Varu
d</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">57 214</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">55 080</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Käib
evara
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Põhi
vara</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">116</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">124</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Inve
steeri
ngud
sidus
ettevõ
tetess
e</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">502</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">497</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Muud
inves
teerin
gud</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">719</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">460</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Edas
ilükku
nud
tulum
aksuva
ra</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">735</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">719</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Imma
teriaa
lne
põhiv
ara</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">1 599</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1 592</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Kinn
isvara
invest
eering
ud</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">17 696</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">18 157</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Mate
riaaln
e
põhiv
ara</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">21 367</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">21 549</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Põhi
vara
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">78 581</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">76 629</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">VARA
D
KOKKU
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">KOHU
STUSED
JA
OMAKA
PITAL<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Lühi
ajalis
ed
kohus
tused<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">86</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">79</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Laen
ukohus
tused<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">11 151</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">10 837</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Võla
d
tarni
jatele
ja
muud
võlad
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">4 643</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">905</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Maks
uvõlad
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">15 880</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">11 821</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Lühi
ajalis
ed
kohus
tused
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Pika
ajalis
ed
kohus
tused<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">166</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1 953</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Edas
ilükku
nud
tulum
aksuko
hustus
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">166</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1 953</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Pika
ajalis
ed
kohus
tused
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">16 046</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">13 774</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Kohu
stused
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Omak
apital
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">11 820</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">11 820</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Akts
iakapi
tal</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">13 822</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">13 822</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Ülek
urss</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-749</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-224</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Omaa
ktsiad
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">1 306</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1 306</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Kohu
stusli
k
reser
vkapit
al</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-2 277</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-1 214</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Real
iseeri
mata
kursi
vahed<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">29 565</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">26 860</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Jaot
amata
kasum
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">53 487</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">52 844</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Omak
apital
kokku
,
emaet
tevõtt
e
omani
ke
osa</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">9 048</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">10 011</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Mitt
ekontr
olliv
osalu
s
omaka
pitali
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">62 535</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">62 855</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Omak
apital
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">78 581</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">76 629</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">OMAK
APITAL
JA
KOHUS
TUSED
KOKKU
</span
></spa
n>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span><span style="font-family:Arial, Helvetica,
sans-serif;font-size:10pt;">Konsolideeritud kasumiaruanne</span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">I kvartal <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">I kvartal
style
2014</span></span>
2013</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">tuha
ndetes
eurod
es</sp
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
----------------------------------------------------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">27 095</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">32 059</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Müüg
itulu<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-17 689</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-21 873</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Müüd
ud
tooda
ngu
kulu<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">9 406</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">10 186</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Brut
okasum
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-3 946</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-4 244</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Turu
stusku
lud</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-1 624</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-1 658</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Üldh
aldusk
ulud</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">321</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">308</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Muud
äritu
lud</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-309</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-389</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Muud
äriku
lud</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">3 848</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">4 203</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Ärik
asum</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-278</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-4</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tulu
/(kulu
)
valuu
takurs
i
muutu
stest<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">200</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">257</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Muud
finan
tstulu
d/(kul
ud)</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-78</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">253</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Fina
ntstul
ud ja
-kulu
d
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">9</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-8</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Kasu
m
kapit
aliosa
luse
meeto
dil
kajas
tatava
test
sidus
ettevõ
tetest
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">3 779</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">4 448</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Kasu
m enne
tulum
aksu</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-1 614</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-1 295</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tulu
maks</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">2 165</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">3 153</span></span>
style
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it
/(kah
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rahal
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netop
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</span
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n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">26</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">681</span></span>
style
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">2 191</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">3 834</span></span>
style
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n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
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hulgas
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">1 890</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">3 527</span></span>
style
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><span
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Emaet
tevõte
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span><
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<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">301</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">307</span></span>
style
="font
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10pt;"
><span
style
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Mitte
kontro
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osalu
se
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span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
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10pt;"
><span
style
="font
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</spa
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an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">0,05</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">0,09</span></span>
style
="font
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10pt;"
><span
style
="font
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m
aktsi
a
kohta
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tevõtt
e
omani
ke
osast
kasum
is,
nii
tava
kui
lahus
tatud
(euro
des)</
span><
/span>
<span style="font-size:10pt;"><strong style="font-size:
11pt;">Ärikeskkond</span>
<span style="font-size:10pt;">Silvano Fashion Group on oma tootebrändide
portfelliga tunnustatud turuliider naistepesu segmendis nii Venemaal,
Valgevenes kui ka Ukrainas, lisaks omab kontsern tugevat positsiooni teistes,
vene keele taustaga riikides (sh. Kasahstanis ja Moldovas) ning on ka
tunnustatud tegija Balti jaeturul.</span>
<span style="font-size:10pt;">2014. aasta I kvartal osutus kontsernile suureks
väljakutseks. Selle peamiseks põhjuseks võime lugeda jätkuvalt nõrka tarbijate
ostujõudu, mida omakorda mõjutab meid mitte soosiv valuutade liikumine euro
suhtes. Peamine osa meie müügikäibest (ja laekumata arvetest) on seotud vene
rubladega (RUB), valgevene rubladega (BYR) ja ukraina grivnadega (UAH), mis
jätkasid nõrgenemist meie raporteerimisvaluuta – euro – suhtes. Need liikumised
mõjutavad otseselt meie tarbijate ostuvõimet kuna nende sissetulekud on jäänud
samale tasemele. Vähemal määral mõjutab nõrgem valgevene rubla meie
tootmiskulusid vähenemise suunas.</span>
<span style="font-size:10pt;">Silvano Fashion Group on juba rakendanud
vastumeetmed uue majandusliku reaalsusega kohanemiseks. Peamine tähelepanu on
suunatud efektiivsusele, mis esmajoones puudutab administratiivkulusid ja
tugifunktsioone organisatsioonis. Teiseks on tähelepanu suunatud üleüldisele
raha juhtimisele, mis sisaldab endas nii vaba raha hoidmist eurodes kui ka
käibekapitali optimeerimist.</span>
<span style="font-size:10pt;">Kontserni I kvartali käive vähenes võrreldes sama
perioodiga aasta tagasi: müügitulu ulatus 27 095 tuhande euroni võrreldes 32
059 tuhande euroga eelmisel aastal. Müügitulu vähenes nii hulgimüügi kui ka
jaemüügi (sh. frantsiis) segmendis. Kontserni oma jaekaupluste käibe osas
toimus kasv Lätis (märkimisväärne +31% kasv aasta baasil), samuti kasvas Balti
jaeturu käive üldisemalt, samas kui Valgevenes opereeritavate oma kaupluste
võrreldavad müügid eurodes ruutmeetri kohta vähenesid pisut (-3% võrreldes
eelmise aastaga). Frantsiisikauplused Venemaal on samuti võrdlemisi hästi
suutnud vastu pidada vaatamata muutlikule majandusolukorrale – like-for-like
(lfl) müügid vähenesid 1,5% võrra võrreldes eelmise aastaga. Kõige muutlikum ja
tundlikum osa müügist Venemaal on hulgimüügi segment, mille kahanemine vähendas
antud piirkonnas müüki 18,5% võrra võrreldes eelmise aasta sama
perioodiga.</span>
<span style="font-size:10pt;">Üleüldiselt vähenes I kvartalis kõige rohkem
läbimüük hulgimüügi segmendis (21 929 tuhat eurot käesoleva aasta I kvartalis
võrreldes 26 937 tuhande euroga sama perioodiga eelmisel aastal). Peamiste
turgude lõikes vähenesid enim müügid Venemaal (-3 629 tuhat eurot), Valgevenes
(-508 tuhat eurot) ning Ukrainas (-716 tuhat eurot), müüki suutsime kasvatada
Balti riikides (+210 tuhat eurot).</span>
<span style="font-size:10pt;">Kontserni puhaskasum moodustas I kvartalis 2 191
tuhat eurot võrreldes 3 834 tuhande euroga eelmisel aastal. Grupi EBITDA (kasum
enne intressikulusid ja -tulusid, tulumaksu ja amortisatsiooni) jäi samas aga
võrreldavale tasemele: 4 547 tuhat eurot I kvartalis 2014 võrreldes 4 832
tuhande euroga eelmise aasta samal perioodil.</span>
<span style="font-size:10pt;">Majanduse väljavaated enamusel kontserni
põhiturgudel on jätkuvalt ebaselged. Rahvusvahelise valuutafondi hinnangul jääb
Venemaa majanduskasv (mõõdetuna SKP-s) 2014. aastal 1% piiridesse. Krimmi
ülevõtmine eelmisel kuul süstib pingeid geopoliitilisel maastikul ning oodata
on kapitali väljavoolu jätkumist riigist. Silvano Fashion Group tegevust
mõjutas otseselt elanikkonna ostujõu vähenemine (vene rubla odavnes I kvartalis
ligemale 9% võrra euro suhtes) ning müügimahtude kahanemine. 2014. aasta I
kvartali lõpus oli Venemaal kokku 385 Milavitsa kauplust.</span>
<span style="font-size:10pt;">Valgevene majanduskasv on pidurdunud peamiselt
tänu jahenenud majanduskliimale riigi peamisel eksporditurul – Venemaal.
Valgevene on võrdlemisi edukalt ajanud inflatsiooni piiravat majanduspoliitikat
(THI kasv moodustas I kvartalis 4,9%), mis omakorda on taganud enam-vähem
stabiilse valgevene rubla vahetuskursi (valgevene rubla odavnes I kvartalis
euro vastu 3,85% võrra). Lisaks sellele hingab riik jäähoki
maailmameistrivõistluste rütmis, mis algavad 9. mail ning mis võib olla üheks
stabiilsuse põhjuseks. Samuti on näha märke, et Valgevene lõikab hetkel kasu
Euraasia majandusliidu läbirääkimistest Venemaa ja Kasahstaniga. Kontsern
opereerib Valgevenes kokku 53 oma kauplusega, lisaks on kontsernil ka 5
frantsiisipoodi. Kontserni müük Valgevenes moodustas I kvartalis 2014 kokku 6
926 tuhat eurot võrreldes 7 434 tuhande euroga eelmise aasta samal
perioodil.</span>
<span style="font-size:10pt;">Negatiivne infovoog Ukraina sündmuste kohta on
jätkuvalt maailma meediaagentuuride esiplaanil. Vaadates detailsemalt riigi
majandusolukorda, siis kontserni ostjate jaoks oli ebameeldivaks üllatuseks
rahvusvaluuta grivna odavnemine I kvartali jooksul 36,5% võrra euro suhtes;
samuti on märgata ostjate eelistusi kulutada raha pigem esmatarbekaupadele,
mitte riietele ega kestvuskaupadele. Kontserni I kvartali 2014 müügikäive antud
turul kukkus 1 393 tuhande euroni võrreldes 2 109 tuhande euroga 2013. aasta I
kvartalis. Kontsernil on äärmiselt raske hinnata majandusolukorda Ukrainas
käesolevaks aastaks, mis on paljuski sõltuv poliitilisest olukorrast; Ukrainas
on maikuu lõpus ootamas ees presidendivalimised. Kontsernil on I kvartali lõpu
seisuga Ukrainas kokku 101 frantsiisipartnerite poolt opereeritavat
kauplust.</span>
<span style="font-size:10pt;">Balti riikides opereerib kontsern peamiselt oma
kaupluste ja frantsiisipartnerite vahendusel. Kontsern opereerib 9 oma
kauplusega, millele lisanduvad 33 frantsiisikauplust regioonis. Kontserni müük
Balti riikides tervikuna moodustas 2014. aasta I kvartalis kokku 794 tuhat
eurot võrreldes 584 tuhande euroga eelnenud aastal.</span>
<span style="font-size:10pt;">Kaupluste avamise osas 2014. aasta I kvartalis
moodustas avamiste netoarv (sisaldab kaupluste avamist kui ka kaupluste
sulgemist, peaasjalikult seoses ümberpaiknemistega) Milavitsa brändi all kokku
3 kauplust ning Lauma Lingerie brändi all suleti 1 kauplus Leedus. Kontsern
opereerib nii ise kui ka frantsiisipartnerite vahendusel kokku 681 kauplust.
Milavitsa ja Lauma Lingerie frantsiisipartnerite võrgustikust tulenev kontserni
müügigeograafia katab enam kui 20 riiki.</span>
<span style="font-size:10pt;">Majandustulemused</span>
<span style="font-size:10pt;">Kontserni 2014. aasta I kvartali käive moodustas
27 095 tuhat eurot, vähenedes eelmise aasta sama perioodiga võrreldes 15,5%.
Hulgimüügi kogukäive vähenes 18,6% võrra ja jaemüügi käive vähenes 2,6%
võrra.</span>
<span style="font-size:10pt;">Kontserni brutorentaablus 2014. aasta I kvartalis
paranes, moodustades 34,71%, eelmise aasta sama perioodi vastav näitaja oli
31,77%. 2014. aasta I kvartali konsolideeritud ärikasum ulatus 3 848 tuhande
euroni võrreldes 2013. aasta I kvartali konsolideeritud ärikasumiga summas 4
203 tuhat eurot. 2014. aasta I kvartali ärikasumi rentaablus ulatus 14,2%-ni
võrreldes 13,1%-ga eelmise aasta samal perioodil. Konsolideeritud EBITDA
moodustas I kvartalis 4 547 tuhat eurot, see tähendab 16,8% rentaablust (4 832
tuhat eurot ja 15,1% eelmise aasta samal perioodil). Need numbrid peegeldavad
kontserni jätkuvaid jõupingutusi efektiivsuse parandamise ja kulude kontrolli
suunal.</span>
<span style="font-size:10pt;">2014. aasta I kvartalis jaotas kontsern kasumit
oma tütarettevõttest emaettevõttesse, millega kaasnes täiendav tulumaksukulu
summas 463 tuhat eurot. Kahjum valuutakursi muutustest I kvartalis ulatus 278
tuhande euroni (4 tuhat eurot eelmise aasta samal perioodil). Kasum rahaliste
vahendite netopositsioonist, mis sõltub ennekõike valuutakursside liikumistest,
vähenes 655 tuhande euro võrra võrreldes eelmise aasta sama perioodiga.
Kokkuvõtvalt, ettevõtte puhaskasum emaettevõtte aktsionäridele moodustas I
kvartalis kokku 1 890 tuhat eurot võrreldes 3 527 tuhande euroga I kvartalis
2013, puhaskasumi marginaal emaettevõtte aktsionäridele moodustas 8,1%
võrreldes 12,0% eelmise aasta samal perioodil.</span>
<span style="font-size:10pt;">Finantsseisund</span>
<span style="font-size:10pt;">Seisuga 31. märts 2014 ulatus konsolideeritud
varade maht 78 581 tuhande euroni, seega võrreldes 31. detsembriga 2013
moodustas kasv 2,6%.</span>
<span style="font-size:10pt;">Võrreldes 31. detsembriga 2013 kasvasid nõuded
ostjate vastu 3 188 tuhande euro võrra ja moodustasid 2014. aasta 31. märtsi
seisuga 14 034 tuhat eurot. Varude saldo suurenes 1 671 tuhande euro võrra
moodustades 2014. aasta 31. märtsi seisuga 26 544 tuhat eurot. Ostjate tasumata
arvete ja varude saldo muutused vastavad ärivaldkonna hooajatrendile.</span>
<span style="font-size:10pt;">Emaettevõtte omanike osa omakapitalis suurenes 1
117 tuhande euro võrra ulatudes 2014. aasta 31. märtsi seisuga 53 487 tuhande
euroni.</span>
<span style="font-size:10pt;">Lühiajalised kohustused suurenesid 2014. aasta I
kvartalis 2 215 tuhande euro võrra. Lühi- ja pikaajalised laenukohustused
suurenesid 7 tuhande euro võrra ulatudes 2014. aasta 31. märtsi seisuga 86
tuhande euroni.</span>
<span style="font-size:10pt;">Müügi struktuur</span>
<span style="font-size:10pt;">Müük turgude lõikes</span>
<span <span style="font-size:10pt;">I kvartal <span
style="font-size:10pt;">I kvartal <span style="font-size:10pt;">Muutus</span>
<span style="font-size:10pt;">I kvartal <span
style="font-size:10pt;">I kvartal
style 2014</span>
2013</span>
2014 2013
="font
% käibest</span> % käibest</span>
-size:
10pt;"
>tuhan
detes
eurod
es</sp
an>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-----------------------------------------------------------------------
<span <span style="font-size:10pt;">16 015</span> <span
style="font-size:10pt;">19 644</span> <span
style="font-size:10pt;">-18,5%</span> <span
style="font-size:10pt;">59,1%</span> <span
style="font-size:10pt;">61,3%</span>
style
="font
-size:
10pt;"
>Venem
aa</sp
an>
<span <span style="font-size:10pt;">6 926</span> <span
style="font-size:10pt;">7 434</span> <span
style="font-size:10pt;">-6,8%</span> <span
style="font-size:10pt;">25,6%</span> <span
style="font-size:10pt;">23,2%</span>
style
="font
-size:
10pt;"
>Valge
vene</
span>
<span <span style="font-size:10pt;">1 393</span> <span
style="font-size:10pt;">2 109</span> <span
style="font-size:10pt;">-33,9%</span> <span
style="font-size:10pt;">5,1%</span> <span
style="font-size:10pt;">6,6%</span>
style
="font
-size:
10pt;"
>Ukrai
na</sp
an>
<span <span style="font-size:10pt;">794</span> <span
style="font-size:10pt;">584</span> <span style="font-size:10pt;">36,0%</span>
<span style="font-size:10pt;">2,9%</span> <span
style="font-size:10pt;">1,8%</span>
style
="font
-size:
10pt;"
>Balti
riigi
d</spa
n>
<span <span style="font-size:10pt;">1 967</span> <span
style="font-size:10pt;">2 288</span> <span
style="font-size:10pt;">-14,0%</span> <span
style="font-size:10pt;">7,3%</span> <span
style="font-size:10pt;">7,1%</span>
style
="font
-size:
10pt;"
>Muud
turud
</span
>
<span <span style="font-size:10pt;">27 095</span> <span
style="font-size:10pt;">32 059</span> <span
style="font-size:10pt;">-15,5%</span> <span
style="font-size:10pt;">100,0%</span> <span
style="font-size:10pt;">100,0%</span>
style
="font
-size:
10pt;"
>Kokku
</span
>
<span style="font-size:10pt;">Enamus 2014. aasta I kvartali müügist on seotud
Venemaaga, s.o 16 015 tuhat eurot, mis moodustas 59,1% kogukäibest. Müügimahult
järgmine piirkond oli Valgevene, kus käive ulatus 6 926 tuhande euroni, mis
moodustas 25,6% kogukäibest (nii jae- kui ka hulgimüük kokku). Ukraina müük
ulatus 1 393 tuhande euroni, moodustades 5,1% kogumüügist.</span>
<span style="font-size:10pt;">Müük ärisegmentide lõikes</span>
<span <span style="font-size:10pt;">I kvartal <span
style="font-size:10pt;">I kvartal <span style="font-size:10pt;">Muutus</span>
<span style="font-size:10pt;">I kvartal <span
style="font-size:10pt;">I kvartal
style 2014 </span>
2013</span>
2014 2013
="font
% käibest</span> % käibest</span>
-size:
10pt;"
>tuhan
detes
eurod
es</sp
an>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-----------------------------------------------------------------------
<span <span style="font-size:10pt;">21 929</span> <span
style="font-size:10pt;">26 937</span> <span
style="font-size:10pt;">-18,6%</span> <span
style="font-size:10pt;">80,9%</span> <span
style="font-size:10pt;">84,0%</span>
style
="font
-size:
10pt;"
>Hulgi
müük</
span>
<span <span style="font-size:10pt;">4 905</span> <span
style="font-size:10pt;">5 035</span> <span
style="font-size:10pt;">-2,6%</span> <span
style="font-size:10pt;">18,1%</span> <span
style="font-size:10pt;">15,7%</span>
style
="font
-size:
10pt;"
>Jaemü
ük</sp
an>
<span <span style="font-size:10pt;">261</span> <span
style="font-size:10pt;">87</span> <span style="font-size:10pt;">200,1%</span>
<span style="font-size:10pt;">1,0%</span> <span
style="font-size:10pt;">0,3%</span>
style
="font
-size:
10pt;"
>Muud
tegev
usvald
konnad
</span
>
<span <span style="font-size:10pt;">27 095</span> <span
style="font-size:10pt;">32 059</span> <span
style="font-size:10pt;">-15,5%</span> <span
style="font-size:10pt;">100,0%</span> <span
style="font-size:10pt;">100,0%</span>
style
="font
-size:
10pt;"
>Kokku
</span
>
<span style="font-size:10pt;">2014. aasta I kvartali hulgimüügi tulu ulatus 21
929 tuhande euroni, mis moodustas 80,9% kontserni müügitulust (2013. aasta I
kvartal: 84,0%). Peamised hulgimüügipiirkonnad olid Venemaa, Ukraina,
Valgevene, Kasahstan ja Moldova.</span>
<span style="font-size:10pt;">Kontserni 2014. aasta I kvartali naistepesu
jaemüügikäive moodustas kokku 4 905 tuhat eurot, esindades 18,1% müügitulust
(2013. aasta I kvartal: 15,7%).</span>
<span style="font-size:10pt;">31. märtsi 2014.a seisuga tegutses Milavitsa ja
Lauma Lingerie kaubamärkide all kokku 681 kauplust. Kontserni oma jaemüügiketid
tegutsesid Valgevenes ja Lätis. 2014. aasta I kvartali lõpu seisuga opereeris
kontsern 62 kauplusega. 2014. aasta 31. märtsi seisuga tegutses Milavitsa
tootemargi all 584 kauplust, mida haldasid Milavitsa äripartnerid Venemaal,
Ukrainas, Moldovas, Kasahstanis, Usbekistanis, Kõrgõzstanis, Lätis,
Aserbaidžaanis, Armeenias, Saksamaal, Lõuna-Aafrikas, Leedus, Eestis, Gruusias,
Araabia Ühendemiraatides, Iraanis, Sloveenias, Belgias ja Itaalias. Lisaks
sellele tegutses 2014. aasta 31. märtsi seisuga ka 35 Lauma Lingerie kauplust,
mida haldasid Lauma Lingerie äripartnerid Eestis, Lätis, Leedus, Valgevenes,
Venemaal, Ukrainas, Saudi-Araabias ja Albaanias.</span>
<span style="font-size:10pt;">Kontsernile kuuluvate ja frantsiisikaupluste
paiknemine</span>
<span <span
<span <span
style style="font-size:10pt;">Kontsern</span>
style="font-size:10pt;">Frantsiis</span>
style="font-size:10pt;">Kokku</span>
="font
-size:
10pt;"
>
</spa
n>
--------------------------------------------------------------------------------
---------------------------------------------------
<span <span style="font-size:10pt;">0</span> <span
style="font-size:10pt;">386</span> <span style="font-size:10pt;">386</span>
style
="font
-size:
10pt;"
>Venem
aa</sp
an>
<span <span style="font-size:10pt;">0</span> <span
style="font-size:10pt;">101</span> <span style="font-size:10pt;">101</span>
style
="font
-size:
10pt;"
>Ukrai
na</sp
an>
<span <span style="font-size:10pt;">53</span> <span
style="font-size:10pt;">5</span> <span style="font-size:10pt;">58</span>
style
="font
-size:
10pt;"
>Valge
vene</
span>
<span <span style="font-size:10pt;">9</span> <span
style="font-size:10pt;">33</span> <span style="font-size:10pt;">42</span>
style
="font
-size:
10pt;"
>Balti
riigi
d</spa
n>
<span <span style="font-size:10pt;">0</span> <span
style="font-size:10pt;">30</span> <span style="font-size:10pt;">30</span>
style
="font
-size:
10pt;"
>Kasah
stan</
span>
<span <span style="font-size:10pt;">0</span> <span
style="font-size:10pt;">26</span> <span style="font-size:10pt;">26</span>
style
="font
-size:
10pt;"
>Moldo
va</sp
an>
<span <span style="font-size:10pt;">0</span> <span
style="font-size:10pt;">38</span> <span style="font-size:10pt;">38</span>
style
="font
-size:
10pt;"
>Muud
riigi
d</spa
n>
<strong style="font-size: 10pt;">Investeeringud
<span style="font-size:10pt;">Kontserni 2014. aasta I kvartali investeeringute
kogumaht materiaalsesse põhivarasse moodustas 39 tuhat eurot. Investeeringud
teostati seadmetesse ja hoonetesse tootmise efektiivsuse säilitamiseks
tulevastes perioodides.</span>
<span style="font-size:10pt;">Personal</span>
<span style="font-size:10pt;">2014. aasta 31. märtsi seisuga oli kontsernil 3
136 töötajat, neist 490 töötas jaemüügi segmendis. Ülejäänud töötajad
tegutsesid tootmise, hulgimüügi-, haldus- ja tugiteenuste valdkondades.</span>
<span style="font-size:10pt;">Kontserni 2014. aasta I kvartali palgakulu koos
maksudega oli 6 042 tuhat eurot. Kontserni juhtkonna võtmeisikute töötasud,
sealhulgas tütarettevõtete võtmeisikute tasud, moodustasid kokku 209 tuhat
eurot.</span><span style="font-size:10pt;"> </span>
<span style="font-size:10pt;">Muudatused müügiettevõtetes</span>
<span style="font-size:10pt;">2014. aasta I kvartalis ning kuni käesoleva
aruande väljaandmiseni on kontsern läbi viinud talle kuuluvate müügiettevõtete
ärinimede muudatused. Peamiseks põhjuseks on müügiettevõtete fookuse nihutamine
toodete logistikalt kaasaegsele müügitegevusele ning mille vastutada on
kontserni kogu tooteportfelli müügikorraldus. Käesoleva muudatuse tulemusena on
meie müügiettevõtted Venemaal, Ukrainas ja Valgevenes ümber nimetatud kontserni
nime järgi “Silvano Fashion”iks.</span>
<span style="font-size:10pt;"> </span>
Aleksei Kadõrko
Finantsdirektor
Silvano Fashion Group
6845 000
[email protected]
Teate sisu inglise keeles
Pealkiri
Consolidated interim report for Q1 2014 (unaudited)
Teade
Tallinn, 2014-05-09 07:30 CEST (GLOBE NEWSWIRE) --
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Selected Financial Indicators</span></span>
<span style="font-family:Arial, Helvetica,
sans-serif;font-size:10pt;">Summarized selected financial indicators of the
Group for Q1 2014 compared to Q1 2013 and 31.03.2014 compared to 31.12.2013
were as follows:</span><span style="font-family:Arial, Helvetica,
sans-serif;font-size:10pt;"> </span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Q1 <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Q1 <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Change
style
2014</span></span>
2013</span></span>
</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">in
thous
ands
of
EUR</
span><
/span>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
----------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">27 095</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">32 059</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-15.5%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Reve
nue</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">4 547</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">4 832</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-5.9%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">EBIT
DA</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">2 191</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">3 834</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-42.9%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Net
profi
t for
the
perio
d</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">1 890</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">3 527</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-46.4%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Net
profi
t
attri
butabl
e
equit
y
holde
rs of
the
Paren
t
compa
ny</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">0.05</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">0.09</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-46.1%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Earn
ings
per
share
(EUR)
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">753</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">348</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">116.2%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Oper
ating
cash
flow
for
the
perio
d</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">31.03.2014</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">31.12.2013</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Change
style
</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">in
thous
ands
of
EUR</
span><
/span>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">78 581</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">76 629</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">2.5%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
asset
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">57 214</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">55 080</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">3.9%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
curre
nt
asset
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">53 487</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">52 370</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">2.1%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
equit
y
attri
butabl
e to
equit
y
holde
rs of
the
Paren
t
compa
ny</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">86</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">79</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">8.9%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Loan
s and
borro
wings<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">15 919</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">19 165</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-16.9%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Cash
and
cash
equiv
alents
</span
></spa
n>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Q1 <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Q1 <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Change
style
2014</span></span>
2013</span></span>
</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Marg
in
analy
sis,
%</sp
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">34.7</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">31.8</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">9.3%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Gros
s
profi
t</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">16.8</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">15.1</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">11.3%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">EBIT
DA</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">8.1</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">12.0</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-32.4%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Net
profi
t</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">7.0</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">11.0</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-36.6%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Net
profi
t
attri
butabl
e
equit
y
holde
rs of
the
Paren
t
compa
ny</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">31.03.2014</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">31.12.2013</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Change</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Fina
ncial
ratio
s,
%</sp
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">11.7</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">13.4</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-12.7%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">ROA<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">17.3</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">19.9</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-13.2%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">ROE<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">9.1</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">9.5</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-3.6%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Pric
e to
earni
ngs
ratio
(P/E)
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">4.1</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">4.7</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-12.5%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Curr
ent
ratio
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">2.2</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2.6</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-14.5%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Quic
k
ratio
</span
></spa
n>
<span style="font-family:Arial, Helvetica,
sans-serif;font-size:10pt;">Consolidated Statement of Financial Position</span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">31.03.14</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">31.12.13</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">in
thous
ands
of
EUR</
span><
/span>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
---------------------------------------------------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">ASSE
TS</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Curr
ent
asset
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">15 919</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">19 165</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Cash
and
cash
equiv
alents
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">717</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">196</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Prep
ayment
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">14 034</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">10 846</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Trad
e and
other
recei
vables
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">26 544</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">24 873</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Inve
ntorie
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">57 214</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">55 080</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
curre
nt
asset
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Non-
curren
t
asset
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">116</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">124</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Inve
stment
s in
assoc
iates<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">502</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">497</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Avai
lable-
for-sa
le
inves
tments
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">719</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">460</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Defe
rred
tax
asset
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">735</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">719</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Inta
ngible
asset
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">1 599</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1 592</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Inve
stment
prope
rty</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">17 696</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">18 157</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Prop
erty,
plant
and
equip
ment</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">21 367</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">21 549</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
non-c
urrent
asset
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">78 581</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">76 629</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">TOTA
L
ASSET
S</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">LIAB
ILITIE
S AND
EQUIT
Y</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Curr
ent
liabi
lities
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">86</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">79</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Curr
ent
borro
wings<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">11 151</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">10 837</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Trad
e and
other
payab
les</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">4 643</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">905</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tax
liabi
lities
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">15 880</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">11 821</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
curre
nt
liabi
lities
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Non-
curren
t
liabi
lities
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">166</span></span>
<span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">1 953</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Defe
rred
tax
liabi
lity</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">166</span></span>
<span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">1 953</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
non-c
urrent
liabi
lities
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">16 046</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">13 774</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
liabi
lities
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Equi
ty</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">11 820</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">11 820</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Shar
e
capit
al</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">13 822</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">13 822</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Shar
e
premi
um</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-749</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-224</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Trea
sury
share
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">1 306</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1 306</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Stat
utory
reser
ve
capit
al</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-2 277</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-1 215</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Unre
alised
excha
nge
rate
diffe
rences
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">29 565</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">26 861</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Reta
ined
earni
ngs</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">53 487</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">52 370</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
equit
y
attri
butabl
e to
equit
y
holde
rs of
the
Paren
t
compa
ny</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">9 048</span></span>
<span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">10 485</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Non-
contro
lling
inter
est</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">62 535</span></span>
<span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">62 855</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
equit
y</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">78 581</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">76 629</span></span><span style="font-family:Arial, Helvetica,
sans-serif;font-size:10pt;"> </span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">TOTA
L
EQUIT
Y AND
LIABI
LITIES
</span
></spa
n>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Consolidated Income Statement</span></span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">Q1 2014</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Q1 2013</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">in
thous
ands
of
EUR</
span><
/span>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
----------------------------------------------------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">27 095</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">32 059</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Reve
nue</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-17 689</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-21 873</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Cost
of
goods
sold<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">9 406</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">10 186</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Gros
s
Profi
t</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-3 946</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-4 244</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Dist
ributi
on
expen
ses</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-1 624</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-1 658</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Admi
nistra
tive
expen
ses</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">321</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">308</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Othe
r
opera
ting
incom
e</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-309</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-389</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Othe
r
opera
ting
expen
ses</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">3 848</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">4 203</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Oper
ating
profi
t</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-278</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-4</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Curr
ency
excha
nge
incom
e/(exp
ense)<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">200</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">257</span></span>
style
="font
-size:
10pt;"
><span
style
="font
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">Othe
r
finan
ce
incom
e/(exp
enses)
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-78</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">253</span></span>
style
="font
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><span
style
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">Net
finan
cial
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e</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
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style
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</spa
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an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">9</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-8</span></span>
style
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><span
style
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">Prof
it
(loss
) from
assoc
iates
using
equit
y
metho
d</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">3 779</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">4 448</span></span>
style
="font
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><span
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it
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on
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ary
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pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
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an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">-1 614</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-1 295</span></span>
style
="font
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><span
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me tax
expen
se</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">2 165</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">3 153</span></span>
style
="font
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10pt;"
><span
style
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">Prof
it
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ary
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span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
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><span
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</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">26</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">681</span></span>
style
="font
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10pt;"
><span
style
="font
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y:Aria
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">Gain
on
net
monet
ary
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ion</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">2 191</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">3 834</span></span>
style
="font
-size:
10pt;"
><span
style
="font
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">Prof
it for
the
perio
d</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
-size:
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><span
style
="font
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">Attr
ibutab
le to
:</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">1 890</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">3 527</span></span>
style
="font
-size:
10pt;"
><span
style
="font
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serif;
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Equit
y
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rs of
the
Paren
t
compa
ny</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">301</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">307</span></span>
style
="font
-size:
10pt;"
><span
style
="font
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">
Non-c
ontrol
ling
inter
est</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
style
="font
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><span
style
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">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">0.05</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">0.09</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Earn
ings
per
share
from
profi
t
attri
butabl
e to
equit
y
holde
rs of
the
Paren
t
compa
ny,
both
basic
and
dilut
ed
(EUR)
</span
></spa
n>
<span style="font-size:10pt;"> <strong style="font-size: 11pt;">Business
environment</span>
<span style="font-size:10pt;">Silvano Fashion Group with its brand portfolio is
a recognized market leader in the lingerie segment in Russia, Belarus, Ukraine,
has exceptionally strong foothold in other Russian-speaking countries
(including Kazakhstan and Moldova) and is a recognized player in the Baltic
consumer markets.</span>
<span style="font-size:10pt;">The first quarter of 2014 turned into a challenge
for Silvano Fashion Group. The primary reason to this is the continuation of
the weaker consumer sentiment, fuelled by unfavourable movement of the
currencies. The main sales (and accounts receivables) currencies – Russia’s
Rouble (RUB), Belarus Rouble (BYR) and Ukraine Hryvnia (UAH) continued to
depreciate against our reporting currency – the EUR. This affects directly the
purchasing power of the customers since the income of the consumers has
remained constant. To a smaller extent, the somewhat weaker BYR attributes to
lower production cost for Silvano Fashion Group.</span><span
style="font-size:10pt;"> </span>
<span style="font-size:10pt;">The company has already taken countermeasures to
meet the new economic reality. The main focus here is on efficiency, which
primarily applies to the administrative and back-office layers of the
organization. The second focus is on the overall cash management, including
keeping the cash in Euros, but also improving the working capital balance of
the company.</span>
<span style="font-size:10pt;">The Group’s sales in Q1 2014 were below the
benchmark in Q1 2013, the net sales reached 27 095 thousand EUR, compared to 32
059 thousand EUR a year ago. The sales volumes decreased both in wholesale and
retail segment (franchise) of our business. In the retail stores operated by
Silvano Fashion Group, the sales increased in Latvia (an impressive growth by
+31% y-o-y) and in Baltics in general, while like-for-like sales and sales per
square meter in EUR terms deteriorated slightly in Belarus (-3%). Franchise
stores in Russia have also stood well against the moody economic environment –
like-for-like sales dropped by only -1.5% there. The most volatile part of
sales there is wholesale, which attributed to the drop of aggregated sales in
the region by 18.5% y-o-y.</span>
<span style="font-size:10pt;">Overall during Q1 the biggest drop in sales came
from wholesale segment (21 929 thousand EUR in Q1 2014 vs. 26 937 thousand EUR
in Q1 2013). Among key markets, the main backdrop we experienced in Russia (-3
629 thousand EUR), in Belarus decrease was 508 thousand EUR, in Ukraine - 716
thousand EUR, we improved our sales in the Baltic States by 210 thousand
EUR.</span>
<span style="font-size:10pt;">The net profit stood at 2 191 thousand Euros in
Q1 2014 compared to 3 834 thousand EUR a year ago. The Group’s EBITDA, though,
remained nearly unchanged, 4 547 thousand EUR in Q1 2014 compared to 4 832
thousand EUR in the corresponding period of 2013.</span>
<span style="font-size:10pt;">The economic outlook for most of our major
markets remains cloudy. According to IMF, the Russia’s economic growth
(measured in GDP) in 2014 constitutes around 1%. Russia’s takeover of Crimea
last month injects geopolitical tension, and the capital outflow from the
country’s economy continues. Silvano Fashion Group was directly affected by the
reduced purchasing power (Russia’s Rouble losing nearly 9% against Euro during
Q1 2014) and reduced sales. As of end of Q1 2014 there were 385 Milavitsa
stores in Russia.</span>
<span style="font-size:10pt;">Belarus economic growth is stalling because of
cooling economic climate of its main export market – Russia. The country has
managed targeted inflation policy rather well (CPI growth of 4.9% during Q1
2014) that also has created some stability for the currency (Belarus Rouble
weakened by 3.85% against Euro during Q1 2014). Further to this, the country is
literally breathing according to the World Hockey Tournament, kicking off on
May 9th that may be one of the reasons for the stability. There are also signs
that the country is potentially leveraging from the negotiations concerning the
Eurasian Economic Union with Russia and Kazakhstan. There are a total of 53
stores operated directly by the Group and 5 franchise stores. The Group’s sales
revenue in Belarus reached 6 926 thousand EUR for Q1 2014 compared to 7 434
thousand EUR for the same period a year ago.</span>
<span style="font-size:10pt;">Negative information flow regarding Ukraine is
continuously on the radar of global media. Looking more detailed at the
economic situation there, our buyers were negatively surprised by the drop of
the local currency (-36.5% during Q1 2014 against EUR), and re-assessing focus
from the general consumer goods into staples such as food etc. For the Group,
the Q1 2014 net sales dropped to 1 393 thousand EUR compared to 2 109 thousand
EUR for the same period a year ago. We have very vague visibility about the
outlook for 2014, dependent on the stabilization of the political climate; the
country is facing presidential elections at the end of May. There are 101
franchise stores in total in the country as of end of Q1 2014.</span>
<span style="font-size:10pt;">In the Baltics, the Group primarily operates via
own stores and franchise partners. The Group operates 9 own stores,
complemented by 33 partner stores in the region. The sales in the Baltic
countries aggregated 794 thousand EUR for Q1 2014, compared to 584 thousand EUR
for the same period a year ago.</span>
<span style="font-size:10pt;">On the store openings, Q1 2014 net increase
(including openings and store closures primarily due to relocations) for
Milavitsa stores were 3 units and a closure of one store in Lithuania under the
Lauma Lingerie brand. The Group therefore operated directly and via franchise a
total of 681 stores. Total geography of our franchise partners covers more than
20 countries, including Milavitsa and Lauma Lingerie branded stores.</span>
<span style="font-size:10pt;">Financial performance</span>
<span style="font-size:10pt;">The Group`s sales amounted to 27 095 thousand EUR
during Q1 2014, representing a 15.5% decrease as compared to the same period of
previous year. Overall, wholesales decreased by 18.6% and retail sales
decreased by 2.6%.</span>
<span style="font-size:10pt;">The Group’s reported gross profit margin during
Q1 improved year-on-year basis and stood at 34.71%, reported gross margin was
31.77% in the respective period of previous year. Consolidated operating profit
for Q1 2014 amounted to 3 848 thousand EUR, compared to 4 203 thousand EUR in
Q1 2013. The consolidated operating profit margin was 14.2% for Q1 2014 (13.1%
in Q1 2013). Consolidated EBITDA for Q1 2014 was 4 547 thousand EUR, which is
16.8% in margin terms (4 832 thousand EUR and 15.1% for Q1 213). This reflects
continuous strive for improvements in efficiency and cost control inside the
Group.</span>
<span style="font-size:10pt;">During Q1 2014 the Group distributed profit from
subsidiaries to the Parent company, which brought additional 463 thousand EUR
in tax expenses. Currency exchange losses in Q1 2014 amounted to 278 thousand
EUR (4 thousand EUR in Q1 2013). Gain on net monetary position, which is highly
dependent on exchange rates` movements, decreased by 655 thousand EUR compared
to Q1 2013. As a result consolidated net profit attributable to equity holders
of the Parent company for Q1 2014 amounted to 1 890 thousand EUR, compared to 3
527 thousand EUR in Q1 2013, net profit margin attributable to equity holders
of the Parent company for Q1 2014 was 8.1% against 12.0% in Q1 2013.</span>
<span style="font-size:10pt;">Financial position</span>
<span style="font-size:10pt;">As of 31 March 2014 consolidated assets amounted
to 78 581 thousand EUR representing an increase by 2.6% as compared to the
position as of 31 December 2013.</span>
<span style="font-size:10pt;">Trade and other receivables increased by 3 188
thousand EUR as compared to 31 December 2013 and amounted to 14 034 thousand
EUR as of 31 March 2014. Inventory balance increased by 1 671 thousand EUR and
amounted to 26 544 thousand EUR as of 31 March 2014. Changes in trade debtors
and stock balance were in line with the seasonality trend of the
business.</span>
<span style="font-size:10pt;">Equity attributable to equity holders of the
Parent company increased by 1 117 thousand EUR and amounted to 53 487 thousand
EUR as of 31 March 2014.</span>
<span style="font-size:10pt;">Current liabilities increased by 2 215 thousand
EUR during Q1 2014. Current and non-current loans and borrowings increased by 7
thousand EUR to 86 thousand EUR as of 31 March 2014.</span>
<span style="font-size:10pt;">Sales structure</span>
<span style="font-size:10pt;">Sales by markets</span>
<span <span style="font-size:10pt;">Q1 <span
style="font-size:10pt;">Q1 <span style="font-size:10pt;">Change</span>
<span style="font-size:10pt;">Q1 2014 <span style="font-size:10pt;">Q1
2013
style 2014</span>
2013</span>
% from sales</span> % from sales</span>
="font
-size:
10pt;"
>in
thous
ands
of
EUR</
span>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-----------------------------------------------------------------------
<span <span style="font-size:10pt;">16 015</span> <span
style="font-size:10pt;">19 644</span> <span
style="font-size:10pt;">-18.5%</span> <span
style="font-size:10pt;">59.1%</span> <span
style="font-size:10pt;">61.3%</span>
style
="font
-size:
10pt;"
>Russi
a</spa
n>
<span <span style="font-size:10pt;">6 926</span> <span
style="font-size:10pt;">7 434</span> <span
style="font-size:10pt;">-6.8%</span> <span
style="font-size:10pt;">25.6%</span> <span
style="font-size:10pt;">23.2%</span>
style
="font
-size:
10pt;"
>Belar
us</sp
an>
<span <span style="font-size:10pt;">1 393</span> <span
style="font-size:10pt;">2 109</span> <span
style="font-size:10pt;">-33.9%</span> <span
style="font-size:10pt;">5.1%</span> <span
style="font-size:10pt;">6.6%</span>
style
="font
-size:
10pt;"
>Ukrai
ne</sp
an>
<span <span style="font-size:10pt;">794</span> <span
style="font-size:10pt;">584</span> <span style="font-size:10pt;">36.0%</span>
<span style="font-size:10pt;">2.9%</span> <span
style="font-size:10pt;">1.8%</span>
style
="font
-size:
10pt;"
>Balti
cs</sp
an>
<span <span style="font-size:10pt;">1 967</span> <span
style="font-size:10pt;">2 288</span> <span
style="font-size:10pt;">-14.0%</span> <span
style="font-size:10pt;">7.3%</span> <span
style="font-size:10pt;">7.1%</span>
style
="font
-size:
10pt;"
>Other
marke
ts</sp
an>
<span <span style="font-size:10pt;">27 095</span> <span
style="font-size:10pt;">32 059</span> <span
style="font-size:10pt;">-15.5%</span> <span
style="font-size:10pt;">100.0%</span> <span
style="font-size:10pt;">100.0%</span>
style
="font
-size:
10pt;"
>Total
</span
>
<span style="font-size:10pt;">The majority of lingerie sales revenue during Q1
2014 in the amount of 16 015 thousand EUR was generated in Russia, accounting
for 59.1% of total sales. The second largest market was Belarus, where sales
reached 6 926 thousand EUR, contributing 25.6% of lingerie sales (both retail
and wholesale). Ukraine represented a sales of 1 393 thousand EUR, contributing
5.1% of lingerie sales of the Group.</span><span style="font-size:10pt;">
</span>
<span style="font-size:10pt;">Sales by business segments</span>
<span <span style="font-size:10pt;">Q1 <span
style="font-size:10pt;">Q1 <span style="font-size:10pt;">Change</span>
<span style="font-size:10pt;">Q1 2014 <span style="font-size:10pt;">Q1
2013
style 2014</span>
2013</span>
% from sales</span> % from sales</span>
="font
-size:
10pt;"
>in
thous
ands
of
EUR</
span>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-----------------------------------------------------------------------
<span <span style="font-size:10pt;">21 929</span> <span
style="font-size:10pt;">26 937</span> <span
style="font-size:10pt;">-18.6%</span> <span
style="font-size:10pt;">80.9%</span> <span
style="font-size:10pt;">84.0%</span>
style
="font
-size:
10pt;"
>Whole
sale</
span>
<span <span style="font-size:10pt;">4 905</span> <span
style="font-size:10pt;">5 035</span> <span
style="font-size:10pt;">-2.6%</span> <span
style="font-size:10pt;">18.1%</span> <span
style="font-size:10pt;">15.7%</span>
style
="font
-size:
10pt;"
>Retai
l</spa
n>
<span <span style="font-size:10pt;">261</span> <span
style="font-size:10pt;">87</span> <span style="font-size:10pt;">200.1%</span>
<span style="font-size:10pt;">1.0%</span> <span
style="font-size:10pt;">0.3%</span>
style
="font
-size:
10pt;"
>Other
opera
tions<
/span>
<span <span style="font-size:10pt;">27 095</span> <span
style="font-size:10pt;">32 059</span> <span
style="font-size:10pt;">-15.5%</span> <span
style="font-size:10pt;">100.0%</span> <span
style="font-size:10pt;">100.0%</span>
style
="font
-size:
10pt;"
>Total
</span
>
<span style="font-size:10pt;">During Q1 2014 wholesale revenue amounted to 21
929 thousand EUR, representing 80.9% of the Group’s total revenue (Q1 2013:
84.0%). The main wholesale regions were Russia, Ukraine, Belarus, Kazakhstan
and Moldova.</span>
<span style="font-size:10pt;">Total lingerie retail sales of the Group in Q1
2014 amounted to 4 905 thousand EUR, representing 18.1% of the Group’s total
revenue (Q1 2013: 15,7%).</span>
<span style="font-size:10pt;">As of 31 March 2014 there were altogether 681
Milavitsa and Lauma branded shops. Own retail operations were conducted in
Belarus and Latvia. As of the end of Q1 2014 the Group operated 62 own retail
outlets. As of 31 March 2014, there were 584 Milavitsa branded shops operated
by Milavitsa trading partners in Russia, Ukraine, Moldova, Kazakhstan,
Uzbekistan, Kyrgyzstan, Latvia, Azerbaijan, Armenia, Germany, South Africa,
Lithuania, Estonia, Georgia, United Arab Emirates, Iran, Slovenia, Belgium and
Italy. Additionally, as of 31 March 2014, there were 35 Lauma Lingerie retail
outlets operated by Lauma Lingerie trading partners in Estonia, Latvia,
Lithuania, Belarus, Russia, Ukraine, Saudi Arabia and Albania.</span>
<span style="font-size:10pt;">Own & franchise store locations, geography</span>
<span <span
<span <span
style style="font-size:10pt;">Own</span>
style="font-size:10pt;">Franchise</span>
style="font-size:10pt;">Total</span>
="font
-size:
10pt;"
>
</spa
n>
--------------------------------------------------------------------------------
---------------------------------------------------
<span <span style="font-size:10pt;">0</span> <span
style="font-size:10pt;">386</span> <span style="font-size:10pt;">386</span>
style
="font
-size:
10pt;"
>Russi
a</spa
n>
<span <span style="font-size:10pt;">0</span> <span
style="font-size:10pt;">101</span> <span style="font-size:10pt;">101</span>
style
="font
-size:
10pt;"
>Ukrai
ne</sp
an>
<span <span style="font-size:10pt;">53</span> <span
style="font-size:10pt;">5</span> <span style="font-size:10pt;">58</span>
style
="font
-size:
10pt;"
>Belar
us</sp
an>
<span <span style="font-size:10pt;">9</span> <span
style="font-size:10pt;">33</span> <span style="font-size:10pt;">42</span>
style
="font
-size:
10pt;"
>Balti
cs</sp
an>
<span <span style="font-size:10pt;">0</span> <span
style="font-size:10pt;">30</span> <span style="font-size:10pt;">30</span>
style
="font
-size:
10pt;"
>Kazak
hstan<
/span>
<span <span style="font-size:10pt;">0</span> <span
style="font-size:10pt;">26</span> <span style="font-size:10pt;">26</span>
style
="font
-size:
10pt;"
>Moldo
va</sp
an>
<span <span style="font-size:10pt;">0</span> <span
style="font-size:10pt;">38</span> <span style="font-size:10pt;">38</span>
style
="font
-size:
10pt;"
>Other
regio
ns</sp
an>
<span style="font-size:10pt;"> </span>
<span style="font-size:10pt;">Investments</span>
<span style="font-size:10pt;">During Q1 2014 the Group’s investments into
property, plant and equipment totalled 39 thousand EUR. Investments were made
into equipment and facilities to maintain effective production for future
periods.</span>
<span style="font-size:10pt;">Personnel</span>
<span style="font-size:10pt;">As of 31 March 2014, the Group employed 3 136
employees including 490 in retail. The rest were employed in production,
wholesale, administration and support operations.</span>
<span style="font-size:10pt;">Total salaries and related taxes during 12 months
2013 amounted to 6 042 thousand EUR. The remuneration of key management of the
Group, including the key executives of the subsidiaries, totalled 209 thousand
EUR.</span>
<span style="font-size:10pt;">Changes in the distribution companies</span>
<span style="font-size:10pt;">During Q1 2014 and until the release of the
report, Silvano Fashion Group has changed business names of the distribution
companies belonging to the Group. The main reason for this is to change the
focus of the distribution companies from being the logistics arm to the
production company into contemporary sales organizations that have the
responsibility for the development of the Group’s business and its whole
portfolio of brands. During this process, the distribution companies in Russia,
Ukraine and Belarus are renamed into “Silvano Fashion”.</span>
Aleksei Kadõrko
CFO
Silvano Fashion Group
+372 6845 000
[email protected]