Börsiteade
Nordic Fibreboard AS
LEI kood
54930002HOIXBD15OM06
Emitendi suuruskategooria
Väikekontsern
Majandustegevusalad
Finants- ja kindlustustegevus
Emitendi registreeritud asukoht
Eesti
Üldandmed
Kategooriad
Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
Teate ID
4877
Manused
Esitamise kuupäev ja aeg
27.02.2015 16:29:38
Teate sisu eesti keeles
Pealkiri
Majandustulemused 12 kuud 2014
Teade
Pärnu, 2015-02-27 15:29 CET (GLOBE NEWSWIRE) --
KOKKUVÕTE
Skano Group ASi 2014 aasta neljanda kvartali konsolideeritud müügitulu kahanes
2013 aasta neljanda kvartaliga võrreldes 4% ja oli 4,66 mln eurot. Kontserni
EBITDA oli neljandas kvartalis negatiivne -1 008 tuhat eurot, 2013 aasta
neljandas kvartalis oli EBITDA vastavalt -2 tuhat eurot. 2014 neljanda kvartali
tulemus sisaldas ühekordset mitterahalist kulu Püssi kiudplaaditehase varade
allahindluse näol summas 925 tuhat eurot, ilma allahindluseta oleks kontserni
EBITDA olnud -83 tuhat eurot.
Skano Fibreboard OÜ Pärnu tehaste müük (sh. Isotex) neljandas kvartalis oli 1,5
mln eurot kahanedes eelmise aasta sama perioodiga võrreldes 10%. 2014 aasta
neljanda kvartali ärikahjum oli 145 tuhat eurot võrreldes 143 tuhade eurose
ärikahjumiga eelmise aasta samal perioodil. Pärnu tehaste müüki ja kasumlikkust
mõjutas oluliselt novembri keskel aset leidnud tulekahju, mis seiskas tootmise
kuni 2015 jaanuari alguseni.
Skano Fibreboard OÜ Püssi kiudplaaditehase käive oli 1,2 mln eurot kasvades 8%
võrreldes eelmise aasta sama perioodiga. 2014 aasta neljanda kvartali ärikahjum
oli 1 051 tuhat eurot võrrelduna 180 tuhande eurose ärikahjumiga eelmise aasta
samal perioodil. Ilma Püssi varade ühekordse allahindluseta summas 925 tuhat
eurot oleks Püssi tehase ärikahjum olnud 126 tuhat eurot.
Skano Fibreboard OÜ müük vähenes peamiselt Pärnu tehase põlengu tõttu, mis
põhjustas toodangu defitsiidi. Tulenevalt meie põhiturgude Venemaa ja Soome
jätkuvalt halvenevast majandusolukorrast oleme laiendamas oma sihtturgude
nimekirja ja teinud märkimisväärseid kulutusi erinevate toodete arendamiseks.
Uue turule sisenemise heaks näiteks neljandas kvartalis oli märkimisväärses
mahus müük LAV turule.
Neljandas kvartalis teostasime jätkuvalt mõlemas tehases mitmeid tootekatsetusi
ja protsesside jätkuvat efektiivistamist omahinna alandamiseks. Ettevõtte
juhtkonna prioriteediks on jätkuvalt tehaste toodangule müügi kindlustamine
maksimaalse tootmisvõimsuse tagamiseks ning tootmisprotsesside
efektiivistamine.
2014 aasta juulis omandas Skano Fibreboard OÜ kontrolli Suomen Tuulileijona OY
üle. Suomen Tuulileijona OY on Skano kiudplaadi edasimüüja Soomes ning antud
tehing ei avalda olulist mõju kiudplaadi hulgimüügimahtudele Soomes, vaid pigem
kindlustab Skano Fibreboard OÜ toodete jätkuva müügi.
Skano Furniture Factory OÜ Pärnu mööblivabriku 2014 aasta neljanda kvartali
käive kahanes eelmise aasta sama perioodiga võrreldes 14 % ja oli 1,5 mln
eurot. Neljanda kvartali ärikahjum oli 61 tuhat eurot võrrelduna 93 tuhande
eurose ärikasumiga 2013 aasta neljandas kvartalis. Kasumlikkusele mõjus
negatiivselt väike müügimaht. Müük Venemaale vähenes 24% võrrelduna 2013 sama
perioodiga tulenevalt nõrgast nõudlusest, samuti vähenes müük Soome 5% võrra.
Lisaks olemasolevatel turgudel uute müügivõimaluste otsimisele on ettevõtte
jaoks oluline suund ka müük uutele turgudele sh. Suurbritannia ja Prantsusmaa,
kuhu oleme endiselt panustamas olulisi ajalisi ja rahalisi ressursse. Täna ei
kata uutele turgudele müük langust meie põhiturgudelt.
Skano Furniture OÜ jaemüügiketi käive kasvas eelmise aasta sama perioodiga
võrreldes 3% ja oli 662 tuhat eurot ning ärikahjum oli 304 tuhat eurot
võrrelduna 5 tuhande eurose ärikasumiga 2013 aasta neljandas kvartalis. 2014
aasta neljanda kvartali ärikahjum 304 tuhat eurot sisaldas ka kursikahjumit
grivna kursimuutusest 137 tuhat eurot ning nõuete allahindlust Ukraina
tütarühingu vastu summas 216 tuhat. Skano Furniture OÜ kursikahjum ja nõete
allahindlus summas 331 tuhat eurot on mitterahaline ja elimineerub kontserni
tulemusest välja kuna tehingu vastapool on teine kontserniühing. 2013 aasta
sama perioodi ärikasum sisaldas kursikahjumit 20 tuhat eurot.
Mööbli jaemüük kasvas kõikjal Balitikumis, kuid kahanes oluliselt Ukrainas
põhjustatuna süvenenud konfliktist Ida-Ukrainas. Jaemüügist moodustab Skano
Group ASi enda toodetud mööbli müük jätkuvalt olulise osa ning see võimaldab
mööblivabrikul opereerida tunduvalt kasumlikumalt, kui see ilma oma
jaemüügiketita võimalik oleks.
KASUMIARUANNE
Aruandeaasta neljanda kvartali müügitulu oli 4,66 mln eurot (2013 aastal 4,86
mln eurot), mis tähendab 2013 aasta neljanda kvartaliga võrreldes 4%-list
kahenemist. Kontserni müügikäibe brutorentaablus oli 2014 aasta neljandas
kvartalis 15,1% (võrrelduna 2013 aasta neljanda kvartali 14,7%-ga).
Konsolideeritud ärikahjum oli 1 228 tuhat eurot sisaldades ühekordset kulu
summas 925 tuhat eurot Püssi varade allahindlusest. Allahindlust arvestamata
oli ärikahjum 303 tuhat eurot (2013 aasta samal perioodil põhitegevuse
ärikahjum oli 225 tuhat eurot). Konsolideeritud müügikäibe ärirentaablus oli
-26,3% (võrrelduna 2013 aasta neljanda kvartali põhitegevuse ärirentaabluse
-4,6% -ga).
Konsolideeritud puhaskahjum oli 1 302 tuhat eurot (2013 aasta neljandas
kvartalis oli põhitegevuse puhaskahjum 291 tuhat eurot) ja puhasrentaablus oli
-27,9% (võrrelduna 2013 aasta neljanda kvartali -6,0%-ga).
FINANTSSEISUNDI ARUANNE
Kontserni koguvarade maht oli 31.12.2014 seisuga 13,3 mln eurot (31.12.2013:
14,6 mln eurot), millest ettevõtte kohustused moodustasid 31.12.2014 seisuga
8,0 mln eurot (31.12.2013: 7,8 mln eurot) ehk 60,2% (31.12.2013: 53,8%).
Nõuded ja ettemaksud on kahanenud 0,1 mln eurot, vähenedes 12 kuuga 10%.
Varud on jäänud 12 kuuga samale tasemele, moodustades 31.12.2014 seisuga 3,0
mln eurot. Seisuga 31.12.2013 oli varude maht samuti 3,0 mln eurot. Materiaalne
ja immateriaalne põhivara vähenes 1,2 mln euro võrra sisaldades Püssi varade
ühekordset allahindlust summas 0,9 mln eurot.
Lühiajalised laenukohustused olid seisuga 31.12.2014 2,0 mln eurot (31.12.2013
1,9 mln eurot) ja suurenesid 12 kuuga kokku 0,1 mln eurot, mis tulenes Suomen
Tuulileijona OY omandamisel kaasa tulnud faktooringukohustusest ning
arvelduskrediidi jooksvast kasutusest. Võlad hankijatele, maksukohustused, muud
võlad, sh võlad töötajatele ja eraldised moodustasid 2,2 mln eurot (seisuga
31.12.2013 2,3 mln eurot).
Pikajalised laenukohustused suurenesid 0,2 mln eurot moodustades 31.12.2014
seisuga 3,6 mln eurot (seisuga 31.12.2013 vastavalt 3,4 mln eurot). Suurenemine
oli põhjustatud laenu restruktureerimisest pika- ja lühiajalise maksete osas.
Lühi- ja pikaajalised kohustused kokku suurenesid 0,2 mln eurot 8,0 mln euroni
(31.12.2013 7,8 mln eurot).
ÄRIVALDKONDADE ÜLEVAADE
MÜÜK SEGMENTIDE LÕIKES
tuh EUR % käibest
------------------------------------------------------------------------------
IV kv. 2014 IV kv. 2013 IV kv. 2014 IV kv. 2013
------------------------------------------------------------------------------
Skano Fibreboard OÜ 2 763 2 826 59,3% 58,2%
------------------------------------------------------------------------------
Skano Furniture Factory OÜ 1 467 1 708 31,5% 35,2%
------------------------------------------------------------------------------
Skano Furniture OÜ jaemüük 662 640 14,2% 13,2%
------------------------------------------------------------------------------
Suomen Tuulielijona OÜ 839 0 18,0% 0,0%
------------------------------------------------------------------------------
Elimineerimine (1 070) (317) (23,0%) (6,5%)
------------------------------------------------------------------------------
KOKKU 4 661 4 857 100,0% 100,0%
------------------------------------------------------------------------------
MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
-----------------------------------------------------------------
IV kv. 2014 IV kv. 2013 IV kv. 2014 IV kv. 2013
-----------------------------------------------------------------
Soome 1 351 1 311 29,0% 27,0%
-----------------------------------------------------------------
Venemaa 1 151 1 342 24,7% 27,6%
-----------------------------------------------------------------
Eesti 660 771 14,2% 15,9%
-----------------------------------------------------------------
Suurbitannia 403 369 8,6% 7,6%
-----------------------------------------------------------------
Läti 233 170 5,0% 3,5%
-----------------------------------------------------------------
LAV 184 0 3,9% 0,0%
-----------------------------------------------------------------
Ukraina 162 222 3,5% 4,6%
-----------------------------------------------------------------
Rootsi 103 153 2,2% 3,1%
-----------------------------------------------------------------
Leedu 100 82 2,1% 1,7%
-----------------------------------------------------------------
Kasahstan 56 48 1,2% 0,9%
-----------------------------------------------------------------
Holland 48 85 1,0% 1,7%
-----------------------------------------------------------------
Saksamaa 38 84 0,8% 1,7%
-----------------------------------------------------------------
Teised riigid 172 220 3,7% 4,5%
-----------------------------------------------------------------
KOKKU 4 661 4 857 100,0% 100,0%
-----------------------------------------------------------------
Turgude lõikes on käive kasvanud Soomes, Suurbritannias, Rootsis ja Leedus.
Enim on vähenenud Venemaal ja Ukrainas.
KASUM SEGMENTIDE LÕIKES
tuh EUR IV kv. 2014 IV kv. 2013
----------------------------------------------------
Skano Furniture Factory OÜ (61) 93
----------------------------------------------------
Skano Furniture OÜ jaemüük (304) 5
----------------------------------------------------
Skano Fibreboard OÜ (1 199) (327)
----------------------------------------------------
Suomen Tuulileijona OY (18) 0
----------------------------------------------------
Elimineerimine 354 4
----------------------------------------------------
KOKKU (1 228) (225)
----------------------------------------------------
Neto finantskulud (73) (61)
----------------------------------------------------
Tulumaksukulu (1) (5)
----------------------------------------------------
PUHASKASUM (1 302) (291)
----------------------------------------------------
SKANO FIBREBOARD
Skano Fibreboard müügitulu oli 2014 aasta neljandas kvartalis 2,8 mln eurot ja
ärikahjum 1 199 tuhat eurot, sisaldades 925 tuhat eurot ühekordset kulu Püssi
kiudplaadivabriku varade allahindlusest. Eelmise aasta samal perioodil oli
üksuse käive samuti 2,8 mln eurot ja ärikahjum 327 tuhat eurot.
Eelmise aasta sama perioodiga võrreldes toimus müügilangus Eestis ja Rootsis,
kuid üldise tagasihoidlikuma müügi taga oli Pärnu tehase tulekahju novembri
keskel, mis põhjustas toodangu defitsiidi.
MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
--------------------------------------------------------------------------------
IV kv. IV kv. IV kv. IV kv.
2014 2013 2014 2013
--------------------------------------------------------------------------------
Soome (sh müük Suomen 857 826 31,0% 29,2%
Tuulileijona OY-le)
--------------------------------------------------------------------------------
Venemaa 541 537 19,6% 19,0%
--------------------------------------------------------------------------------
Suurbritannia 393 400 14,2% 14,2%
--------------------------------------------------------------------------------
Eesti 322 432 11,7% 15,3%
--------------------------------------------------------------------------------
LAV 184 0 6,7% 0,0%
--------------------------------------------------------------------------------
Läti 100 85 3,6% 3,0%
--------------------------------------------------------------------------------
Rootsi 89 153 3,2% 5,4%
--------------------------------------------------------------------------------
Holland 48 85 1,7% 3,0%
--------------------------------------------------------------------------------
Ukraina 42 37 1,5% 1,3%
--------------------------------------------------------------------------------
Saksamaa 38 84 1,4% 3,0%
--------------------------------------------------------------------------------
Leedu 26 20 1,0% 0,7%
--------------------------------------------------------------------------------
Teised riigid 123 167 4,5% 5,9%
--------------------------------------------------------------------------------
KOKKU 2 763 2 826 100,0% 100,0%
--------------------------------------------------------------------------------
tuh EUR Müük Ärikasum
--------------------------------------------------------------------------------
IV kv. 2014 IV kv. 2013 IV kv. IV kv. 2013
2014
--------------------------------------------------------------------------------
Pärnu kiudplaadivabrik 1 024 1 099 (139) (116)
--------------------------------------------------------------------------------
Püssi kiudplaadivabrik 1 220 1 128 (1 051) (180)
--------------------------------------------------------------------------------
Pärnu vääristamisüksus 497 587 (5) (27)
(Isotex)
--------------------------------------------------------------------------------
Allokeerimata 22 12 (4) (4)
--------------------------------------------------------------------------------
KOKKU 2 763 2 826 (1 199) (327)
--------------------------------------------------------------------------------
Pärnu kiudplaadivabriku ja siseviimistlusplaatide liini käive kahanes eelmise
aasta neljanda kvartaliga võrreldes 10% ja oli 1,5 miljonit eurot.
Püssis asuva kiudplaaditehase käive oli 1,2 mln eurot kasvades eelmise aasta
neljanda kvartaliga võrreldes 8% (2013 neljandas kvartalis oli müük 1,1 mln
eurot). Püssi tehase müük küll kasvas, kuid jätkuvalt on väljakutseks tehase
piisava müügimahuga kindlustamine ning tootmisefektiivsus, millega
parandamisega tegeletakse jooksvalt.
SKANO FURNITURE
MÖÖBLI JAEMÜÜK
Skano Group ASi mööbli jaeäri opereerivad tütarfirma Skano Furniture OÜ ja
selle tütarfirmad Lätis, Leedus ja Ukrainas. Seisuga 31.12.2014 on
mööblikaupluste ketis kokku 10 kauplust: kaks Tallinnas, üks Tartus ja üks
Pärnus, Riias, Vilniuses, kaks Kiievis, üks Harkovis ja Dnepropetrovskis.
JAEMÜÜK RIIKIDE LÕIKES
tuh EUR % käibest Kaupluste arv
-------------------------------------------------------------------------------
IV kv. 2014 IV kv. 2013 IV kv. 2014 IV kv. 2013 31.12.14 31.12.13
-------------------------------------------------------------------------------
Eesti 326 308 49,2% 48,1% 4 4
-------------------------------------------------------------------------------
Läti 133 85 20,1% 13,3% 1 1
-------------------------------------------------------------------------------
Leedu 74 62 11,2% 9,7% 1 1
-------------------------------------------------------------------------------
Ukraina 120 185 18,1% 28,9% 4 4
-------------------------------------------------------------------------------
Kokku 662 640 100,0% 100,0% 10 10
-------------------------------------------------------------------------------
Mööbli jaemüük 2014 aasta kolmandas kvartalis moodustas 662 tuhat eurot,
kasvades eelmise aasta sama perioodiga 3%. Ärikahjum oli neljandas kvartalis
304 tuhat eurot (2013 neljanda kvartali müük oli 640 tuhat eurot ning ärikasum
5 tuhat eurot). 2014 aasta neljanda kvartali ärikahjum 304 tuhat eurot sisaldas
ka kursikahjumit grivna kursimuutusest 137 tuhat eurot ning nõuete allahindlust
Ukraina tütarühingu vastu summas 216 tuhat. Sellest summast 331 tuhat eurot
elimineerub kontserni tulemusest välja kuna tehingu vastapool on teine
kontserniühing. 2013 aasta neljandas kvartalis oli grivna kursimuutusest
tulenev kursikahjum 20 tuhat eurot.
MÖÖBLI TOOTMINE
Skano Furniture Factory OÜ Pärnu mööblivabrikus oli 2014 aasta neljanda
kvartali müügitulu 1,5 mln eurot ja ärikahjum 61 tuhat eurot. Eelmise aasta
samal perioodil oli mööblivabriku käive 1,7 mln eurot ja ärikasum 93 tuhat
eurot. Võrreldes eelmise aastaga kahanes vabriku käive 14%. Tulenevalt Venemaa
üldisest poliitilisest olukorrast ning sealse importkauba ostujõu vähenemisest
langes müük Venemaale neljandas kvartalis 24%. Soome üldisest jahenenud
majanduskeskkonnast ja nõrgast nõudlusest kestvuskaupadele vähenes müük Soome
5%.
MÖÖBLIVABRIKU MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
-------------------------------------------------------------------
IV kv. 2014 IV kv. 2013 IV kv. 2014 IV kv. 2013
-------------------------------------------------------------------
Venemaa 610 805 41,6% 47,1%
-------------------------------------------------------------------
Soome 462 485 31,5% 28,4%
-------------------------------------------------------------------
Teised riigid 116 111 7,9% 6,5%
-------------------------------------------------------------------
Tütarettevõtted 279 307 19,0% 18,0%
-------------------------------------------------------------------
Kokku 1 467 1 708 100,0% 100,0%
-------------------------------------------------------------------
PROGNOOS JA ARENG
SKANO FIBREBOARD. Skano Fibrebordi käive 2015 aasta esimeses kvartalis jääb
samale tasemele võrreldes eelmise aasta sama perioodi käibega. Üks põhjustest
müügimahu kasvamise peatumise taga esimeses kvartalis on 17.novembril aset
leidnud tuleõnnetus Pärnu kiudplaadivabrikus, mille tagajärgede likvideerimise
tulemusena taaskäivitati tehas 2015 aasta jaanuri alguses. Pooleteistkuune
tööseisak põhjustab Pärnus toodetava kauba defitsiidi ning realiseerimata jääva
müügi s.h. ka 2015 jaanuaris. Tuleõnnetuse otsene kahju seadmetele ja
ehitistele jäi 80 tuhande euro piiresse ning kindlustusandjaga käib protsess
kahjude kompenseerimise osas.
Ukraina konflikti edasine eskaleerumine mõjub negatiivselt puitkiudplaadi
müügile meie põhiturgudel Venemaal ja Ida-Euroopas. Olenemata geopoliitilistest
arengutest tegeleme aktiivselt uutele eksporditurgudele sisenemisega.
Lisaks tooteportfelli parandamisele on juhtkonna prioriteet endiselt suunatud
ka tootmisprotsessi energiaefektiivsuse parandamisele, kuhu on suunatud 2015
investeeringute ja parenduste programm. Kuigi juba 2014. aastal saavutati
tootmise omahinnas oluline edasiminek võrreldes varasemaga, prognoosime ka
2015. aastaks kõrgemat tootmisefektiivsust võrrelduna 2014. aastaga.
Efektiivsuse tõus saavutatakse eelkõige väiksema energiakulu ning
tehnoloogiliste parednuste tõttu vähenenud praaktoodangu ning tootmisseisakute
osakaalu näol.
SKANO MÖÖBLI JAEMÜÜK. Prognoosime, et 2015 aasta esimeses kvartali jaemüük
Baltikumis ja Ukrainas jääb alla eelmise aasta sama perioodi müügile.
Tagasilööki müügile prognoosime esimeses kvartalis just Ukrainast tulenevalt
sealsest poliitilisest ja majanduslikust ebastabiilusest.
SKANO MÖÖBLIVABRIK. 2015 aasta esimeses kvartalis prognoosime mööblivabrikus
eelmise aastaga võrreldes märkimisväärselt väiksemat käivet tulenevalt üldisest
halvenenud majanduskeskkonnast lähiturgudel. Soomes avaldab mõju jätkuvalt nõrk
konjuktuur, Venemaal on müügi vähenemine põhjustatud eelkõige nõrgast valuutast
ning prognoositavast laiapõhjalisest majanduslangusest ning madalamast
tarbijakindlusest.
Uute turgude müük ei ületa 2015 esimeses kvartalis põhiturgudelt tekkinud
mahajäämust. 2015 on eesmärk uute turgude müügiga osaliselt katta müügi
vähenemine meie tänastel põhiturgudel Soomes ja Venemaal. Lisaks uute turgude
müügimahu kasvatamisele, mis on olnud juhtkonna prioriteet, tegeleme veel
olemasolevate tootesarjade värskendamise, uute tootesarjade väljatöötamisega ja
alternatiivsete müügikanalite arendamisega.
FINANTSSUHTARVUD
tuh EUR 12 kuud 2014 12 kuud 2013 12 kuud 2012
--------------------------------------------------------------------------------
Kasumiaruanne
--------------------------------------------------------------------------------
Müügitulu 20 330 19 186 19 080
--------------------------------------------------------------------------------
EBITDA (312) 438 1 040
--------------------------------------------------------------------------------
EBITDA rentaablus (1,5%) 2,3% 5,5%
--------------------------------------------------------------------------------
Ärikasum (1 199) (467) 74
--------------------------------------------------------------------------------
Ärirentaablus (5,9%) (2,4%) 0,4%
--------------------------------------------------------------------------------
Puhaskasum (1 481) (706) (201)
--------------------------------------------------------------------------------
Puhasrentaablus (7,3%) (3,7%) (1,1%)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-
Bilanss (31.12)
--------------------------------------------------------------------------------
Koguvarad 13 329 14 722 15 471
--------------------------------------------------------------------------------
Koguvarade puhasrentaablus (11,1%) (4,8%) (1,3%)
--------------------------------------------------------------------------------
Omakapital 5 300 6 805 7 482
--------------------------------------------------------------------------------
Omakapitali puhasrentaablus (27,9%) (10,4%) (2,7%)
--------------------------------------------------------------------------------
Võlakordaja 60,2% 53,8% 51,6%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-
Aktsia (31.12)
--------------------------------------------------------------------------------
Aktsia sulgemishind (EUR) 0,85 1,22 1,24
--------------------------------------------------------------------------------
Puhaskasum aktsia kohta (EUR) (0,33) (0,16) (0,04)
--------------------------------------------------------------------------------
Hind-tulu (PE) suhtarv (2,58) (7,63) (31,00)
--------------------------------------------------------------------------------
Aktsia raamatupidamisväärtus (EUR) 1,18 1,51 1,66
--------------------------------------------------------------------------------
Turuhinna ja raamatupidamisväärtuse 0,72 0,81 0,75
suhe
--------------------------------------------------------------------------------
Turukapitalisatsioon 3 824 5 489 5 579
--------------------------------------------------------------------------------
EBITDA = ärikasum + kulum
EBITDA rentaablus = EBITDA / müügitulu
Ärirentaablus = ärikasum / müügitulu
Puhasrentaablus = puhaskasum / müügitulu
Koguvarade puhasrentaablus = puhaskasum / koguvarad
Omakapitali puhasrentaablus = puhaskasum / omakapital
Võlakordaja = kohustused / koguvarad
Puhaskasum aktsia kohta = puhaskasum / aktsiate arv
Hind-tulu (PE) suhtarv = aktsia sulgemishind / puhaskasum aktsia kohta
Aktsia raamatupidamisväärtus = omakapital / aktsiate arv
Turuhinna ja raamatupidamisväärtuse suhe = aktsia sulgemishind / aktsia
raamatupidamisväärtus
Turukapitalisatsioon = aktsia sulgemishind * aktsiate arv
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
tuh EUR 31.12.2014 31.12.2013
----------------------------------------------------------------
Raha ja raha ekvivalendid 432 355
----------------------------------------------------------------
Nõuded ja ettemaksed (lisa 1) 1 232 1 368
----------------------------------------------------------------
Varud (lisa 2) 2 962 2 974
----------------------------------------------------------------
Käibevara kokku 4 626 4 697
----------------------------------------------------------------
----------------------------------------------------------------
Kinnisvarainvesteeringud (lisa 3) 407 408
----------------------------------------------------------------
Materiaalne põhivara (lisa 4) 8 267 9 505
----------------------------------------------------------------
Immateriaalne põhivara (lisa 5) 29 26
----------------------------------------------------------------
Põhivara kokku 8 703 9 939
----------------------------------------------------------------
----------------------------------------------------------------
AKTIVA (vara) KOKKU 13 329 14 636
----------------------------------------------------------------
----------------------------------------------------------------
----------------------------------------------------------------
Võlakohustused (lisa 6) 2 030 1 919
----------------------------------------------------------------
Võlad ja ettemaksed (lisa 7) 2 198 2 255
----------------------------------------------------------------
Lühiajalised eraldised (lisa 8) 15 14
----------------------------------------------------------------
Lühiajalised kohustused kokku 4 243 4 188
----------------------------------------------------------------
----------------------------------------------------------------
Pikaajalised võlakohustused (lisa 6) 3 563 3 413
----------------------------------------------------------------
Pikaajalised eraldised (lisa 8) 223 230
----------------------------------------------------------------
Pikaajalised kohustused kokku 3 786 3 643
----------------------------------------------------------------
----------------------------------------------------------------
Kohustused kokku 8 029 7 831
----------------------------------------------------------------
----------------------------------------------------------------
Aktsiakapital (nimiväärtuses) (lisa 9) 2 699 2 699
----------------------------------------------------------------
Ülekurss 364 364
----------------------------------------------------------------
Kohustuslik reservkapital 288 288
----------------------------------------------------------------
Ümberhindluse kursivahed (16) 8
----------------------------------------------------------------
Eelmiste perioodide jaotamata kasum 3 446 4 152
----------------------------------------------------------------
Aruandeaasta kasum (kahjum) (lisa 10) (1 481) (706)
----------------------------------------------------------------
Omakapital kokku 5 300 6 805
----------------------------------------------------------------
----------------------------------------------------------------
PASSIVA (kohustused ja omakapital) KOKKU 13 329 14 636
----------------------------------------------------------------
KONSOLIDEERITUD KASUMI- JA KOONDKASUMIARUANNE
tuh EUR IV kv IV kv 2014 2013
2014 2013
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Müügitulu (lisa 11) 4 661 4 857 20 330 19 186
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Müüdud toodangu kulu (3 955) (4 140) (16 (16
727) 204)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Brutokasum 706 717 3 603 2 982
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Turustuskulud (841) (723) (3 077) (2 612)
--------------------------------------------------------------------------------
Üldhalduskulud (150) (208) (622) (763)
--------------------------------------------------------------------------------
Muud äritulud 59 54 103 152
--------------------------------------------------------------------------------
Muud ärikulud (1 002) (65) (1 206) (226)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Ärikasum (kahjum) (lisa 11) (1 228) (225) (1 199) (467)
--------------------------------------------------------------------------------
Neto finantskulu (73) (61) (281) (233)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Kasum(kahjum) enne tulumaksu (1 301) (286) (1 480) (700)
--------------------------------------------------------------------------------
Tulumaksukulu (1) (5) (1) (6)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
PERIOODI PUHASKASUM (KAHJUM) (1 302) (291) (1 481) (706)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum:
--------------------------------------------------------------------------------
Valuutakursside muutuste mõju 16 6 (24) 29
konsolideerimisel
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
PERIOODI KOONDKASUM(KAHJUM) (1 286) (285) (1 505) (677)
--------------------------------------------------------------------------------
Tava perioodi puhaskasum(kahjum) aktsia (0,29) 0,06 (0,33) (0,16)
kohta (lisa 10)
--------------------------------------------------------------------------------
Lahustatud perioodi puhaskasum(kahjum) (0,29) 0,06 (0,33) (0,16)
aktsia kohta (lisa 10)
--------------------------------------------------------------------------------
2015. aasta esimese kvartali vahearuande planeeritav avalikustamise aeg on
nädal 22 (25.-29. mai 2015)
Martin Kalle
CEO
+372 447 8331
[email protected]
Teate sisu inglise keeles
Pealkiri
Financial results, 12 months 2014
Teade
Pärnu, 2015-02-27 15:29 CET (GLOBE NEWSWIRE) --
THE FOURTH QUARTER IN SHORT
Consolidated net sales of the fourth quarter of 2014 was 4.66 mil. euros,
representing a 4% decrease on the fourth quarter compared to the same period in
2013. At the same time, consolidated EBITDA amounted to minus 1,008 thousand
euros (EBITDA minus 2 thousand euros in Q4 2013). 2014 fourth quarter result
includes also one-off non-monetary write-down of Püssi fibreboard factory
assets amount to 925 thousand euros, without the write-down EBITDA would have
been minus 83 thousand euros.
The sales in Skano Fibreboard OÜ Pärnu factory (incl. Isotex) was 1.5 mil.
euros, decreased as compared to the respective period last year by 10%, the
operating loss of the fourth quarter was 145 thousand euros compared with the
operating loss 143 thousand euros last year. Sale and profitability of Pärnu
factory in the fourth quarter was affected by the fire accident in
mid-November, which caused stoppage until the beginning of January 2015.
The turnover of Skano Fibreboard OÜ Püssi factory was 1.2 mil. euros,
representing 8% increase in the fourth quarter compared to the same period in
2013. Operating loss amounted to 1,051 thousand euros compared with the
operating loss 180 thousand euros last year. Without the write-down of Püssi
assets operating loss in the fourth quarter would have been 126 thousand euros.
Sales mainly decreased due to a fire in Pärnu fibreboard factory on the 17th of
November, which caused a partial deficit in sale of Pärnu factory’s production.
As our main foreign markets Russia and Finland are still weak due to the
general economic situation in Europe we have been continuously expanding the
list of our target markets and made considerable efforts in product
development. Remarkable sale to SAR in Q4 was a good sample of entering into
new markets. In the fourth quarter we also conducted product testing and tuning
of production process in both factories in order to achieve a lower production
cost.
The priority of the management of the company is continuously to ensure the
sales of the production of both factories in order to guarantee the maximum
production capacity and efforts are taken in this direction on an on-going
basis.
In July 2014 Skano Fibreboard OÜ acquired full control over Suomen Tuulileijona
OY. Suomen Tuulileijona OY is the wholesaler of Skano fibreboard products in
Finland. The acquisition has no significant impact to our position in the
Finnish wholesale market but was done to secure our ongoing sales in Finland.
The turnover of Skano Furniture Factory OÜ in Pärnu decreased in the fourth
quarter by 14% and amounted to 1.5 mil. euros. The operating loss of the third
quarter was 61 thousand euros as in 2013 the operating profit of the same
period was 93 thousand euros. Profitability was impacted by low sales volumes.
Sales in the fourth quarter of 2014 decreased mostly in Russia due to weak
demand by 24% as compared to 2013, also sales to Finland decreased 5%. In
addition to seeking new sales possibilities in the current markets the company
has made considerable effort to enter into totally new markets like UK and
France. Today sale in new markets is not covering the gap from our main
markets.
The turnover of Skano Furniture OÜ retail chain increased 3% as compared to the
same period last year being 662 thousand euros, operating loss was 304 thousand
euros compared with the sales 640 thousand and operating profit 5 thousand
euros in the fourth quarter of 2013. 2014 fourth quarter operating loss
contains also a loss from a drop of currency exchange rate of hryvnia 137
thousand euros and cost of write-down of receivables against Skano Ukrainian
subsidiary 216 thousand euros. Skano Furniture OÜ exchange rate loss and
write-down cost amounting to 331 thousand euros is non-monetary and will be
eliminated from the consolidated results as they are intragroup transactions
against another group company (realized loss from currency exchange rate 20
thousand euros in the same period of 2013).
Retail sale increased everywhere in Baltics but decreased in Ukraine due to
escalated conflict. The sales of Skano Furniture Factory OÜ own furniture still
forms a considerable part of the retail sale and it enables the furniture
factory to operate much more profitably than it would be possible without its
own retail chain.
INCOME STATEMENT
Consolidated net sales of the fourth quarter in 2014 was 4.66 mil. euros (4.86
mil. euros in same period of 2013) representing a 4% decrease compared to Q4
2013. The Group’s gross margin in the fourth quarter of 2014 was 15.1% compared
to 14.7% in the fourth quarter of 2013. Consolidated operating loss amounted to
1,228 thousand euros containing a write-down cost of Püssi factory assets 925
thousand euros. Without the write-down cost operating loss would have been 303
thousand euros (operating loss 225 thousand euros from main activities in same
period 2013). The consolidated operating margin of net sales was -26.3% (-4.6%
from main activities in Q4 2013).
Consolidated net loss amounted to 1,302 thousand euros (compared to net loss
291 thousand euros in Q4 2013), and the net margin was -27.9% (-6.0% in Q4
2013).
POSITION OF FINANCIAL STATEMENT
As of 31.12.2014 the total assets of Skano Group AS amounted to 13.3 mil. euros
(31.12.2013: 14.6 mil. euros). The liabilities of the company accounted for
60.2% (31.12.2013: 53.8%) thereof, i.e. 8.0 mil. euros (31.12.2013: 7.8 mil.
euros).
Receivables and prepayments have decreased by 0.1 mil. euros i.e. 10% decrease
within 12 months.
Inventories have been at the same level with 12 months, amounting to 3.0 mil.
euros on 31.12.2014. (31.12.2013: 3.0 mil. euros). Property, plant and
intangibles decreased by 1.2 mil. euros mainly due to one-off write-down of
Püssi factory assets.
Short-term loans have increased by 0.1 mil. euros and amounted to 2.0 mil.
euros in 31.12.2014 which was result of increase of factoring liabilities of
Suomen Tuulileijona OY recently acquired and usage of bank overdraft
(31.12.2013: 1.9 mil. euros). Supplier payables, tax liabilities, other
payables, including payables to employees, and provisions amounted to 2.2 mil.
euros (31.12.2013: 2.3 mil. euros).
Long-term loans have increased by 0.2 mil euros and amounted to 3.6 mil. euros
in 31.12.2014 (31.12.2013: 3.4 mil. euros). The increase was caused by
restructuring of the loan between short- and long-term payment schedule.
Current and non-current liabilities have increased by 0.2 mil. euros to 8.0
mil. euros (31.12.2013: 7.8 mil. euros).
DIVISIONAL REVIEW
NET SALES BY BUSINESS SEGMENTS
th EUR % of net sales
--------------------------------------------------------------
Q4 2014 Q4 2013 Q4 2014 Q4 2013
--------------------------------------------------------------
Skano Fibreboard OÜ 2,763 2,826 59.3% 58.2%
--------------------------------------------------------------
Skano Furniture Factory OÜ 1,467 1,708 31.5% 35.2%
--------------------------------------------------------------
Skano Furniture OÜ retail 662 640 14.2% 13.2%
--------------------------------------------------------------
Suomen Tuulileijona OY 839 0 18.0% 0.0%
--------------------------------------------------------------
Elimination (1,070) (317) (23.0%) (6.5%)
--------------------------------------------------------------
TOTAL 4,661 4,857 100.0% 100.0%
--------------------------------------------------------------
NET SALES BY GEOGRAPHICAL SEGMENTS
th EUR % of net sales
---------------------------------------------------
Q4 2014 Q4 2013 Q4 2014 Q4 2013
---------------------------------------------------
Finland 1,351 1,311 29.0% 27.0%
---------------------------------------------------
Russia 1,151 1,342 24.7% 27.6%
---------------------------------------------------
Estonia 660 771 14.2% 15.9%
---------------------------------------------------
Great Britain 403 369 8.6% 7.6%
---------------------------------------------------
Latvia 233 170 5.0% 3.5%
---------------------------------------------------
SAR 184 0 3.9% 0.0%
---------------------------------------------------
Ukraine 162 222 3.5% 4.6%
---------------------------------------------------
Sweden 103 153 2.2% 3.1%
---------------------------------------------------
Lithuania 100 82 2.1% 1.7%
---------------------------------------------------
Kazakhstan 56 48 1.2% 0.9%
---------------------------------------------------
Netherlands 48 85 1.0% 1.7%
---------------------------------------------------
Germany 38 84 0.8% 1.7%
---------------------------------------------------
Other countries 172 220 3.7% 4.5%
---------------------------------------------------
TOTAL 4,661 4,857 100.0% 100.0%
---------------------------------------------------
Regarding the markets, turnover has increased in Finland, Great Britain, Sweden
and Lithuania. The turnover has decreased in most in Russia and Ukraine.
PROFIT BY BUSINESS SEGMENTS
th EUR Q4 2014 Q4 2013
-----------------------------------------
Skano Furniture factory (61) 93
-----------------------------------------
Skano Furniture retail (304) 5
-----------------------------------------
Skano Fibreboard (1 199) (327)
-----------------------------------------
Suomen Tuulileijona OY (18) 0
-----------------------------------------
Elimination 354 4
-----------------------------------------
TOTAL (1 228) (225)
-----------------------------------------
Net financial costs (73) (61)
-----------------------------------------
Income tax (1) (5)
-----------------------------------------
NET PROFIT (1 302) (291)
-----------------------------------------
SKANO FIBREBOARD
The net sales of Skano Fibreboard in the fourth quarter of 2014 amounted to 2.8
mil. euros and operating loss to 1,199 thousand euros containing a write-down
cost of Püssi factory assets 925 thousand euros. In the same period last year,
the turnover of Skano Fibreboard totaled also to 2.8 mil. euros and the
operating loss from main activities 327 thousand euros.
The drop in sales in the fourth quarter compare to last year took place in
Estonia and Sweden, but the main reason behind the modest sale was the fire
accident in Pärnu factory in the middle of November, which caused deficit of
the product.
NET SALES BY GEOGRAPHICAL SEGMENTS
th EUR % of net sales
-----------------------------------------------------------------------------
Q4 2014 Q4 2013 Q4 2014 Q4 2013
-----------------------------------------------------------------------------
Finland (incl. to Suomen Tuulileijona OY) 857 826 31.0% 29.2%
-----------------------------------------------------------------------------
Russia 541 537 19.6% 19.0%
-----------------------------------------------------------------------------
Great Britain 393 400 14.2% 14.2%
-----------------------------------------------------------------------------
Estonia 322 432 11.7% 15.3%
-----------------------------------------------------------------------------
SAR 184 0 6.7% 0.0%
-----------------------------------------------------------------------------
Latvia 100 85 3.6% 3.0%
-----------------------------------------------------------------------------
Sweden 89 153 3.2% 5.4%
-----------------------------------------------------------------------------
Netherlands 48 85 1.7% 3.0%
-----------------------------------------------------------------------------
Ukraine 42 37 1.5% 1.3%
-----------------------------------------------------------------------------
Germany 38 84 1.4% 3.0%
-----------------------------------------------------------------------------
Lithuania 26 20 1.0% 0.7%
-----------------------------------------------------------------------------
Other countries 123 167 4.5% 5.9%
-----------------------------------------------------------------------------
TOTAL 2,763 2,826 100.0% 100.0%
-----------------------------------------------------------------------------
th EUR Net sales Operating Profit
--------------------------------------------------------------------------
Q4 2014 Q4 2013 Q4 2014 Q4 2013
--------------------------------------------------------------------------
Pärnu Fibreborad factory 1 ,024 1,099 (139) (116)
--------------------------------------------------------------------------
Püssi Fibreboard factory 1,220 1,128 (1 051) (180)
--------------------------------------------------------------------------
Pärnu interior boards factory (Isotex) 497 587 (5) (27)
--------------------------------------------------------------------------
Not allocated 22 12 (4) (4)
--------------------------------------------------------------------------
TOTAL 2,763 2,826 (1 199) (327)
--------------------------------------------------------------------------
The net sales of the Pärnu fibreboard factory and interior board’s line
decreased 10% in the fourth quarter of 2014 compared to the same quarter of
2013 and amounted to 1.5 mil. euros.
The turnover of Püssi fibreboard factory amounted to 1.2 mil. euros growing 8%
compared to the same quarter in 2013 (turnover 1.1 mil. euros in Q4 2013).
Output of Püssi Fibreboard factory grew in the fourth quarter but the main
challenge is still to secure Püssi Fibreboard factory with sufficient sales
volumes and efficiency.
SKANO FURNITURE
FURNITURE RETAIL SALES
Skano Group AS retail business is operated by a private limited company Skano
Furniture OÜ and its subsidiaries in Latvia, Lithuania and Ukraine. Skano has
totally 10 stores in Tallinn (2), Tartu, Pärnu, Riga, Vilnius, Kiev (2),
Kharkiv and Dnipropetrovs’k at the end of the fourth quarter in 2014.
RETAIL SALES BY COUNTRIES
th EUR % of net sales Number of stores
-----------------------------------------------------------------
Q4 2014 Q4 2013 Q4 2014 Q4 2013 31.12.14 31.12.13
-----------------------------------------------------------------
Estonia 326 308 49.2% 48.1% 4 4
-----------------------------------------------------------------
Latvia 133 85 20.1% 13.3% 1 1
-----------------------------------------------------------------
Lithuania 74 62 11.2% 9.7% 1 1
-----------------------------------------------------------------
Ukraine 120 185 18.1% 28.9% 4 4
-----------------------------------------------------------------
TOTAL 662 640 100.0% 100.0% 10 10
-----------------------------------------------------------------
Retail sale amounted to 662 thousand euros in the fourth quarter of 2014 and
operating loss 304 thousand euros (sales 640 thousand euros and operating
profit 5 thousand euros in Q4 2013). Current year fourth quarter operating loss
304 thousand euros contains also loss from drop of currency exchange rate of
hryvnia 137 thousand euros and cost of write-down of receivables against Skano
Ukrainian subsidiary 216 thousand euros. Skano Furniture OÜ exchange rate loss
and write-down cost amounting to 331 thousand euros are eliminated from the
consolidated results as they are intragroup transactions against another group
company (realized loss from currency exchange rate 20 thousand euros in the
same period of 2013).
FURNITURE PRODUCTION
The net sales of the Skano Furniture Factory in the fourth quarter amounted to
1.5 mil. euros and operating loss to 61 thousand euros. In the same period last
year, the turnover of the factory amounted to 1.7 mil. euros and the profit to
93 thousand euros. As compared to the previous year the turnover of the factory
has decreased 14%. In the fourth quarter the sales decreased in Russia by 24%
and in Finland by 5% due to colder economic and political environment and
weaker demand for durable goods.
FURNITURE FACTORY SALES BY COUNTRIES
th EUR % of net sales
---------------------------------------------------
Q4 2014 Q4 2013 Q4 2014 Q4 2013
---------------------------------------------------
Russia 610 805 41.6% 47.1%
---------------------------------------------------
Finland 462 485 31.5% 28.4%
---------------------------------------------------
Other countries 116 111 7.9% 6.5%
---------------------------------------------------
Subsidiaries 279 307 19.0% 18.0%
---------------------------------------------------
TOTAL 1,467 1,708 100.0% 100.0%
---------------------------------------------------
FORECAST AND DEVELOPMENT
SKANO FIBREBOARD. Sales of Skano Fibreboard in Q1 2015 will remain at the same
level compared to sales of the same period last year. One reason behind
stagnated sale’s growth in the first quarter is the fire in Pärnu fibreboard
factory on the 17th of November as the factory was restarted in the first half
of January 2015. One and half month production break caused a partial deficit
in sale of Pärnu factory’s production including in January 2015. Total direct
fire damage to buildings and equipment amounts up to 80 thousand euros and the
process about damage compensation with the insurance is still pending.
Further escalation of conflict in Ukraine impacts negatively to fibreboard
sales in our main markets Russia and Eastern Europe. Despite of geopolitical
developments we are taking actions to enter into new export markets.
In addition to production portfolio the management’s priority is to improve
energy efficiency in the production process, where 2015 first quarter
investment and improvement program is aimed. Although we have achieved in 2014
significant progress in the production cost compared to prior year, we expect
also higher production efficiency in 2015 compared to 2014. Further progress in
production efficiency is achieved primarily due to lower energy consumption and
technological improvements as a result of which amount of poor quality products
and production outage would decrease.
SKANO FURNITURE RETAIL SALES. We expect total retail sale in Q1 2015 to
decrease compared to the sale of the same period last year as we expect bigger
negative impact to sales from Ukraine due to political and economic
instability.
SKANO FURNITURE FACTORY. In the first quarter of 2015 we expect remarkably
smaller sales of the furniture factory compared to the same period in 2014
because of the deteriorated economic situation in the near regions. In Finland
sales are down due to general weak economic conditions, in Russia due to weak
currency, predictable broad-based economic downturn and low consumer
confidence.
Sales to new markets in Q1 2015 are not covering the lag from our main markets.
In 2015 our goal is to compensate with sales in new markets partly the gap from
our main markets in Russia and Finland. In addition to seeking sales
possibilities in new markets, we are refreshing our existing furniture series,
developing new furniture series and alternative sales channels.
FINANCIAL HIGHLIGHTS
th EUR 12 m 2014 12 m 2013 12 m 2012
------------------------------------------------------
Income statement
------------------------------------------------------
Revenue 20,330 19,186 19,080
------------------------------------------------------
EBITDA (312) 438 1,040
------------------------------------------------------
EBITDA margin (1.5%) 2.3% 5.5%
------------------------------------------------------
Operating profit (1,199) (467) 74
------------------------------------------------------
Operating margin (5.9%) (2.4%) 0.4%
------------------------------------------------------
Net profit (1,481) (706) (201)
------------------------------------------------------
Net margin (7.3%) (3.7%) (1.1%)
------------------------------------------------------
-------------------------------------------------------
Balance sheet (31.12)
------------------------------------------------------
Total assets 13,329 14,722 15,471
------------------------------------------------------
Return on assets (11.1%) (4.8%) (1.3%)
------------------------------------------------------
Equity 5,300 6,805 7,482
------------------------------------------------------
Return on equity (27.9%) (10.4%) (2.7%)
------------------------------------------------------
Debt-to-equity ratio 60.2% 53.8% 51.6%
------------------------------------------------------
-------------------------------------------------------
Share (31.12)
------------------------------------------------------
Closing price 0,85 1,22 1,24
------------------------------------------------------
Earnings per share (0.33) (0.16) (0.04)
------------------------------------------------------
Price-earnings ratio (2.58) (7.63) (31.00)
------------------------------------------------------
Book value of a share 1.18 1.51 1.66
------------------------------------------------------
Market to book ratio 0.72 0.81 0.75
------------------------------------------------------
Market capitalization 3,824 5,489 5,579
------------------------------------------------------
EBITDA = Earnings before interest, taxes, depreciation and amortization
EBITDA margin = EBITDA / Revenue
Operating margin = Operating profit / Revenue
Net margin = Net profit / Revenue
Return on assets = Net profit / Total assets
Return on equity = Net profit / Equity
Debt-to-equity ratio = Liabilities / Total assets
Earnings per share = Net profit / Total shares
Price-earnings ratio = Closing price / Earnings per share
Book value of a share = Equity / Total shares
Market to book ratio = Closing price / Book value of a share
Market capitalization = Closing price * Total shares
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
th EUR 31.12.2014 31.12.2013
----------------------------------------------------------------
----------------------------------------------------------------
Cash and bank 432 355
----------------------------------------------------------------
Receivables and prepayments (Note 1) 1,232 1,368
----------------------------------------------------------------
Inventories (Note 2) 2,962 2,974
----------------------------------------------------------------
Total current assets 4,626 4,697
----------------------------------------------------------------
----------------------------------------------------------------
Investment property (Note 3) 407 408
----------------------------------------------------------------
Tangible fixed assets (Note 4) 8,267 9,505
----------------------------------------------------------------
Intangible fixed assets (Note 5) 29 26
----------------------------------------------------------------
Total fixed assets 8,703 9,939
----------------------------------------------------------------
----------------------------------------------------------------
TOTAL ASSETS 13,329 14,636
----------------------------------------------------------------
----------------------------------------------------------------
----------------------------------------------------------------
Debt obligations (Note 6) 2,030 1,919
----------------------------------------------------------------
Payables and prepayments (Note 7) 2,198 2,255
----------------------------------------------------------------
Short-term provisions (Note 8) 15 14
----------------------------------------------------------------
Total current liabilities 4,243 4,188
----------------------------------------------------------------
----------------------------------------------------------------
Non-current debt obligations (Note 6) 3,563 3,413
----------------------------------------------------------------
Non-current provisions (Note 8) 223 230
----------------------------------------------------------------
Total non-current liabilities 3,786 3,643
----------------------------------------------------------------
----------------------------------------------------------------
Total liabilities 8,029 7,831
----------------------------------------------------------------
----------------------------------------------------------------
Share capital at nominal value (Note 9) 2,699 2,699
----------------------------------------------------------------
Issue premium 364 364
----------------------------------------------------------------
Statutory capital reserve 288 288
----------------------------------------------------------------
Currency translation (16) 8
----------------------------------------------------------------
Retained profits 3,446 4,152
----------------------------------------------------------------
Net profit (loss) for the year (Note 10) (1,481) (706)
----------------------------------------------------------------
Total equity 5,300 6,805
----------------------------------------------------------------
----------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 13,329 14,636
----------------------------------------------------------------
CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME
th EUR 4th Q 4th Q 2013 2014 2013
2014
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
RETURN ON SALES (Note 11) 4,661 4,857 20,330 19,186
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Cost of production sold (3,955) (4,140) (16,727) (16,204)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Gross profit 706 717 3,603 2,982
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Marketing expenses (841) (723) (3,077) (2,612)
--------------------------------------------------------------------------------
General administrative expenses (150) (208) (622) (763)
--------------------------------------------------------------------------------
Other income 59 54 103 152
--------------------------------------------------------------------------------
Other expenses (1,002) (65) (1,206) (226)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Operating profit (loss) (Note 11) (1,228) (225) (1,199) (467)
--------------------------------------------------------------------------------
Financial income and financial (73) (61) (281) (233)
expenses
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Profit (loss) before taxes (1,301) (286) (1,480) (700)
--------------------------------------------------------------------------------
Prepaid income tax (1) (5) (1) (6)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
NET PROFIT (LOSS) FOR THE PERIOD (1,302) (291) (1,481) (706)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Basic earnings per share (Note 10) (0.29) 0.06 (0.33) (0.16)
--------------------------------------------------------------------------------
Diluted earnings per share (Note 10) (0.29) 0.06 (0.33) (0.16)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Other comprehensive income:
--------------------------------------------------------------------------------
Currency translation differences 16 6 (24) 29
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL COMPREHENSIVE INCOME (1,286) (285) (1,505) (677)
--------------------------------------------------------------------------------
The planned time of publishing of interim report of the first quarter of 2015
is week 22 (25-29 May 2015)
Martin Kalle
CEO
+372 447 8331
[email protected]