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
5027
Manused
Esitamise kuupäev ja aeg
29.05.2015 16:01:45
Teate sisu eesti keeles
Pealkiri
Majandustulemused 3 kuud 2015
Teade
Pärnu, 2015-05-29 15:01 CEST (GLOBE NEWSWIRE) --
KOKKUVÕTE
Skano Group ASi 2015 aasta esimese kvartali konsolideeritud müügitulu kahanes
2014 aasta esimese kvartaliga võrreldes 5% ja oli 5,1 mln eurot. Kontserni
EBITDA oli esimeses kvartalis 253 tuhat eurot, 2014 aasta esimeses kvartalis
oli EBITDA vastavalt 100 tuhat eurot.
Skano Fibreboard OÜ Pärnu tehaste müük (sh. Isotex) esimeses kvartalis oli 1,8
mln eurot kahanedes eelmise aasta sama perioodiga võrreldes 15%. 2015 aasta
esimese kvartali ärikasum oli 114 tuhat eurot võrreldes 54 tuhade eurose
ärikahjumiga eelmise aasta samal perioodil.
Skano Fibreboard OÜ Püssi kiudplaaditehase käive oli 1,6 mln eurot kasvades 32%
võrreldes eelmise aasta sama perioodiga. 2015 aasta esimese kvartali ärikahjum
oli 9 tuhat eurot võrrelduna 204 tuhande eurose ärikahjumiga eelmise aasta
samal perioodil.
Skano Fibreboard OÜ müük kasvas peamiselt uute turgude arvelt. Tulenevalt meie
põhiturgude Venemaa ja Soome jätkuvalt nõrgast majandusolukorrast oleme
laiendamas oma sihtturgude nimekirja ja teinud olulisi kulutusi erinevate
toodete arendamiseks. Uue turule sisenemise heaks näiteks esimeses kvartalis
oli märkimisväärses mahus müük LAV turule. Esimeses 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.
Suomen Tuulileijona OY müük jäi 2015 aasta esimeses kvartalis samale tasemele
võrrelduna eelmise aasta sama perioodiga, mis oli 1,6 mln eurot. Suomen
Tuulileijona OY on Skano kiudplaadi edasimüüja Soomes, mis soetati 2014 juulis.
2014 esimeses kvartalis Suomen Tuulileijona OY müüki kontsernis veel kajastunud
ning müük Soomes sisaldus Skano Fibreboard OÜ all.
Skano Furniture Factory OÜ Pärnu mööblivabriku 2015 aasta esimese kvartali
käive kahanes eelmise aasta sama perioodiga võrreldes 23 % ja oli 1,3 mln
eurot. Esimese kvartali ärikahjum oli 89 tuhat eurot võrrelduna 122 tuhande
eurose ärikasumiga 2014 aasta esimeses kvartalis. Kasumlikkusele mõjus
negatiivselt väike müügimaht. Müük Venemaale vähenes 52% võrrelduna 2014 sama
perioodiga tulenevalt nõrgast nõudlusest, samuti vähenes müük Soome 20% võrra.
Müük kasvas Baltikumis ja uutel turgudel. 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 7% ja oli 653 tuhat eurot ning ärikahjum oli 240 tuhat eurot
võrrelduna 245 tuhande eurose ärikahjumiga 2014 aasta esimeses kvartalis. 2015
aasta esimese kvartali ärikahjum 240 tuhat eurot sisaldas ka kursikahjumit
grivna kursimuutusest summas 268 tuhat, sh. kursikahjum summas 228 tuhat eurot
on mitterahaline ja elimineerub kontserni tulemusest välja, kuna tehingu
vastapool on teine kontserniühing. 2014 aasta sama perioodi ärikahjum sisaldas
kursikahjumit vastavalt 256 tuhat eurot.
Mööbli jaemüük kasvas kõikjal Baltikumis, kuid kahanes oluliselt Ukrainas
põhjustatuna 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 esimese kvartali müügitulu oli 5,1 mln eurot (2014 aastal 5,4 mln
eurot), mis tähendab 2014 aasta esimese kvartaliga võrreldes 5%-list
kahanemist. Kontserni müügikäibe brutorentaablus oli 2015 aasta esimeses
kvartalis 23% (võrrelduna 2014 aasta esimese kvartali 15%-ga). Konsolideeritud
ärikasum oli esimeses kvartalis 36 tuhat eurot (2014 aasta samal perioodil
põhitegevuse ärikahjum oli 125 tuhat eurot). Konsolideeritud müügikäibe
ärirentaablus oli 0,7% (võrrelduna 2014 aasta esimese kvartali põhitegevuse
ärirentaabluse -2,3% -ga).
Konsolideeritud puhaskahjum oli 39 tuhat eurot (2014 aasta esimeses kvartalis
oli põhitegevuse puhaskahjum 186 tuhat eurot) ja puhasrentaablus oli -0,8%
(võrrelduna 2014 aasta esimese kvartali -3,5%-ga).
FINANTSSEISUNDI ARUANNE
Kontserni koguvarade maht oli 31.03.2015 seisuga 15,0 mln eurot (31.03.2014:
15,0 mln eurot), millest ettevõtte kohustused moodustasid 31.03.2015 seisuga
9,8 mln eurot (31.03.2014: 8,4 mln eurot) ehk 65% (31.03.2014: 56%).
Nõuded ja ettemaksud on kasvanud 0,8 mln eurot, suurenedes 12 kuuga 56% ning
mis tulenes Suomen Tuulileijona OY omandamisel kaasa tulnud nõuete mahust.
Varud on jäänud 12 kuuga samale tasemele, moodustades 31.03.2014 seisuga 3,3
mln eurot. Seisuga 31.03.2014 oli varude maht samuti 3,3 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 31.03.2015 2,8 mln eurot (31.03.2014
1,9 mln eurot) ja suurenesid 12 kuuga kokku 0,9 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 3,2 mln eurot (seisuga
31.03.2014 2,8 mln eurot).
Pikajalised laenukohustused suurenesid 0,2 mln eurot moodustades 31.03.2015
seisuga 3,6 mln eurot (seisuga 31.03.2014 vastavalt 3,4 mln eurot). Suurenemine
oli põhjustatud laenu restruktureerimisest pika- ja lühiajalise maksete osas.
Lühi- ja pikaajalised kohustused kokku suurenesid 1,4 mln eurot 9,8 mln euroni
(31.03.2014 8,4 mln eurot).
ÄRIVALDKONDADE ÜLEVAADE
MÜÜK SEGMENTIDE LÕIKES
tuh EUR % käibest
--------------------------------------------------------------------------
I kv. 2015 I kv. 2014 I kv. 2015 I kv. 2014
--------------------------------------------------------------------------
Skano Fibreboard OÜ 3 445 3 388 67,4% 63,3%
--------------------------------------------------------------------------
Skano Furniture Factory OÜ 1 325 1 717 25,9% 32,1%
--------------------------------------------------------------------------
Skano Furniture OÜ jaemüük 653 608 12,8% 11,4%
--------------------------------------------------------------------------
Suomen Tuulielijona OÜ 1 604 0 31,4% 0
--------------------------------------------------------------------------
Elimineerimine (1 919) (362) (37,6%) (6,8%)
--------------------------------------------------------------------------
KOKKU 5 108 5 351 100,0% 100,0%
--------------------------------------------------------------------------
MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
-----------------------------------------------------------
kv. 2015 I kv. 2014 I kv. 2015 I kv. 2014
-----------------------------------------------------------
Soome 2 076 2 181 40,6% 40,8%
-----------------------------------------------------------
Eesti 792 679 15,5% 12,7%
-----------------------------------------------------------
Venemaa 773 1 275 15,1% 23,8%
-----------------------------------------------------------
LAV 360 9 7,0% 0,2%
-----------------------------------------------------------
Suurbritannia 206 241 4,0% 4,5%
-----------------------------------------------------------
Rootsi 199 176 3,9% 3,3%
-----------------------------------------------------------
Läti 181 142 3,5% 2,7%
-----------------------------------------------------------
Leedu 101 89 2,0% 1,7%
-----------------------------------------------------------
Ukraina 86 165 1,7% 3,1%
-----------------------------------------------------------
Kasahtsan 82 0 1,6% 0,0%
-----------------------------------------------------------
Taani 56 6 1,1% 0,1%
-----------------------------------------------------------
Prantsusmaa 54 20 1,1% 0,4%
-----------------------------------------------------------
Teised riigid 142 368 2,9% 6,7%
-----------------------------------------------------------
KOKKU 5 108 5 351 100,0% 100,0%
-----------------------------------------------------------
Turgude lõikes on käive kasvanud Eestis, Lätis, Leedus ja LAV-is. Enim on müük
vähenenud Venemaal ja Ukrainas.
KASUM SEGMENTIDE LÕIKES
tuh EUR I kv. 2015 I kv. 2014
--------------------------------------------------
Skano Furniture Factory OÜ (89) 122
--------------------------------------------------
Skano Furniture OÜ jaemüük (240) (245)
--------------------------------------------------
Skano Fibreboard OÜ 105 (258)
--------------------------------------------------
Suomen Tuulileijona OY 41 0
--------------------------------------------------
Elimineerimine 219 256
--------------------------------------------------
KOKKU 36 (125)
--------------------------------------------------
Neto finantskulud (72) (61)
--------------------------------------------------
Tulumaksukulu (3) 0
--------------------------------------------------
PUHASKASUM (39) (186)
--------------------------------------------------
SKANO FIBREBOARD
Skano Fibreboard müügitulu oli 2015 aasta esimeses kvartalis 3,4 mln eurot ja
ärikasum 105 tuhat eurot. Eelmise aasta samal perioodil oli üksuse käive samuti
3,4 mln eurot ja ärikahjum 258 tuhat eurot.
Eelmise aasta sama perioodiga võrreldes toimus müügikasv Eestis ja LAV-is ning
langus Venemaal, Hollandis ja Taiwanis.
MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
--------------------------------------------------------------------------------
I kv. I kv. I kv. I kv.
2015 2014 2015 2014
--------------------------------------------------------------------------------
Soome (sh müük Suomen Tuulileijona 1 612 1 639 46,8% 48,4%
OY-le)
--------------------------------------------------------------------------------
Eesti 415 326 12,0% 9,6%
--------------------------------------------------------------------------------
Venemaa 368 437 10,7% 12,9%
--------------------------------------------------------------------------------
LAV 360 9 10,4% 0,3%
--------------------------------------------------------------------------------
Suurbritannia 199 231 5,8% 6,8%
--------------------------------------------------------------------------------
Rootsi 199 176 5,8% 5,2%
--------------------------------------------------------------------------------
Läti 57 64 1,7% 1,9%
--------------------------------------------------------------------------------
Taani 56 6 1,6% 0,2%
--------------------------------------------------------------------------------
Saksamaa 38 8 1,1% 0,2%
--------------------------------------------------------------------------------
AÜE 36 9 1,0% 0,3%
--------------------------------------------------------------------------------
Teised riigid 105 483 3,1% 14,2%
--------------------------------------------------------------------------------
KOKKU 3 445 3 388 100,0% 100,0%
--------------------------------------------------------------------------------
tuh EUR Müük Ärikasum
-------------------------------------------------------------------------------
I kv. 2015 I kv. 2014 I kv. 2015 I kv. 2014
-------------------------------------------------------------------------------
Pärnu kiudplaadivabrik 1 389 1 633 100 (15)
-------------------------------------------------------------------------------
Püssi kiudplaadivabrik 1 577 1 197 (9) (204)
-------------------------------------------------------------------------------
Pärnu vääristamisüksus (Isotex) 424 493 14 (39)
-------------------------------------------------------------------------------
Allokeerimata 55 65 0 0
-------------------------------------------------------------------------------
KOKKU 3 445 3 388 105 (258)
-------------------------------------------------------------------------------
Pärnu kiudplaadivabriku ja siseviimistlusplaatide liini käive kahanes eelmise
aasta esimese kvartaliga võrreldes 15% ja oli 1,8 miljonit eurot.
Püssis asuva kiudplaaditehase käive oli 1,6 mln eurot kasvades eelmise aasta
esimese kvartaliga võrreldes 32% (2014 esimeses kvartalis oli müük 1,2 mln
eurot). Püssi tehase müük küll kasvas oluliselt, kuid jätkuvalt on väljakutseks
tehase piisava müügimahuga kindlustamine ning tootmisefektiivsus, mille
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 31.03.2015 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
---------------------------------------------------------------------------
I kv. 2015 I kv. 2014 I kv. 2015 I kv. 2014 31.03.15 31.03.14
---------------------------------------------------------------------------
Eesti 369 329 56,5% 54,1% 4 4
---------------------------------------------------------------------------
Läti 124 78 19,0% 12,8% 1 1
---------------------------------------------------------------------------
Leedu 84 73 12,9% 12,0% 1 1
---------------------------------------------------------------------------
Ukraina 76 128 11,6% 21,1% 4 4
---------------------------------------------------------------------------
Kokku 653 608 100,0% 100,0% 10 10
---------------------------------------------------------------------------
Mööbli jaemüük 2015 aasta esimeses kvartalis moodustas 653 tuhat eurot,
kasvades eelmise aasta sama perioodiga 7%. Ärikahjum oli esimeses kvartalis 240
tuhat eurot (2014 esimese kvartali müük oli 608 tuhat eurot ning ärikahjum 245
tuhat eurot). 2015 aasta esimese kvartali ärikahjum 240 tuhat eurot sisaldas ka
kursikahjumit grivna kursimuutusest 268 tuhat eurot. Sellest summast 228 tuhat
eurot elimineerub kontserni tulemusest välja, kuna tehingu vastapool on teine
kontserniühing. 2014 aasta esimeses kvartalis oli grivna kursimuutusest tulenev
kursikahjum 256 tuhat eurot.
MÖÖBLI TOOTMINE
Skano Furniture Factory OÜ Pärnu mööblivabrikus oli 2015 aasta esimese kvartali
müügitulu 1,3 mln eurot ja ärikahjum 89 tuhat eurot. Eelmise aasta samal
perioodil oli mööblivabriku käive 1,7 mln eurot ja ärikasum 122 tuhat eurot.
Võrreldes eelmise aastaga kahanes vabriku käive 23%. Tulenevalt Venemaa
üldisest poliitilisest olukorrast ning sealse importkauba ostujõu vähenemisest
langes müük Venemaale esimeses kvartalis 52%. Soome üldisest jahenenud
majanduskeskkonnast ja nõrgast nõudlusest kestvuskaupadele vähenes müük Soome
20%.
MÖÖBLIVABRIKU MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
---------------------------------------------------------------
I kv. 2015 I kv. 2014 I kv. 2015 I kv. 2014
---------------------------------------------------------------
Soome 433 542 32,7% 31,6%
---------------------------------------------------------------
Venemaa 405 838 30,6% 48,8%
---------------------------------------------------------------
Teised riigid 146 40 11,0% 2,3%
---------------------------------------------------------------
Tütarettevõtted 341 297 25,7% 17,3%
---------------------------------------------------------------
Kokku 1 325 1 717 100,0% 100,0%
---------------------------------------------------------------
PROGNOOS JA ARENG
SKANO FIBREBOARD. Prognoosime, et Skano Fibrebordi käive 2015 aasta teises
kvartalis jääb mõnevõrra väiksemaks võrreldes eelmise aasta sama perioodi
käibega. Eelkõige on väiksem müügimaht põhjustatud planeeritud korraliste
seisakute tõttu II kvartalis, seda nii Pärnu kui Püssi tehases. Seoses Püssi
tehase tuleõnnetusega osutus sealne tehniline seisak ka planeeritud korralisest
seisakust mõnevõrra pikemaks. Samuti omab müügimahule jätkuvalt mõju nõrk
majandusolukord meie põhiturgudel Soomes ja Venemaal. Samas näeme juba täna
tulemusi, mida on toonud tootmisprotsesside ja seadmete efektiivistamine, mis
võimaldab kasumlikku tootmist ka oluliselt väiksemate müügimahtude korral kui
varem.
Juhtkonna prioriteet on suunatud tehaste piisava müügimahuga kindlustamisele ja
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 parenduste tõttu vähenenud praaktoodangu ning tootmisseisakute
osakaalu näol.
SKANO MÖÖBLI JAEMÜÜK. Prognoosime, et 2015 aasta teise kvartali jaemüük
Baltikumis ja Ukrainas jääb samale tasemele võrreldes eelmise aasta sama
perioodi müügiga. Kuigi ootame teises kvartalis müügi kasvu Baltikumis, siis
tagasilööki müügile prognoosime Ukrainast tulenevalt sealsest poliitilisest ja
majanduslikust ebastabiilusest.
SKANO MÖÖBLIVABRIK. 2015 aasta teises 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 teises 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. Aruande esitamise hetkeks oleme
teises kvartalis juba lansseerinud uue tootesarja Treviku kaubamärgi nime all.
Oleme nimetatud tootesarja jooksvalt laiendamas, samuti töötame paralleelselt
ka teiste modernsete tootesarjade arendamisega.
FINANTSSUHTARVUD
tuh EUR 3 kuud 2015 3 kuud 2014 3 kuud 2013
-------------------------------------------------------------------------------
Kasumiaruanne
-------------------------------------------------------------------------------
Müügitulu 5 108 5 351 4 361
-------------------------------------------------------------------------------
EBITDA 253 100 -37
-------------------------------------------------------------------------------
EBITDA rentaablus 5,0% 1,9% (0,8%)
-------------------------------------------------------------------------------
Ärikasum 36 (125) (266)
-------------------------------------------------------------------------------
Ärirentaablus 0,7% (2,3%) (6,1%)
-------------------------------------------------------------------------------
Puhaskasum (39) (186) (322)
-------------------------------------------------------------------------------
Puhasrentaablus (0,8%) (3,5%) (7,4%)
-------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Bilanss (31.03)
-------------------------------------------------------------------------------
Koguvarad 14 989 14 980 15 511
-------------------------------------------------------------------------------
Koguvarade puhasrentaablus (0,3%) (1,2%) (2,1%)
-------------------------------------------------------------------------------
Omakapital 5 212 6 574 7 170
-------------------------------------------------------------------------------
Omakapitali puhasrentaablus (0,7%) (2,8%) (4,5%)
-------------------------------------------------------------------------------
Võlakordaja 65,2% 56,1% 53,8%
-------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsia (31.03)
-------------------------------------------------------------------------------
Aktsia sulgemishind (EUR) 0,845 0,995 1,190
-------------------------------------------------------------------------------
Puhaskasum aktsia kohta (EUR) (0,01) (0,04) (0,07)
-------------------------------------------------------------------------------
Hind-tulu (PE) suhtarv (84,50) (24,88) (17,00)
-------------------------------------------------------------------------------
Aktsia raamatupidamisväärtus (EUR) 1,16 1,46 1,59
-------------------------------------------------------------------------------
Turuhinna ja raamatupidamisväärtuse suhe 0,73 0,68 0,75
-------------------------------------------------------------------------------
Turukapitalisatsioon 3 802 4 477 5 354
-------------------------------------------------------------------------------
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 31.03.2015 31.12.2014 31.03.2014
----------------------------------------------------------------------------
Raha ja raha ekvivalendid 691 432 392
----------------------------------------------------------------------------
Nõuded ja ettemaksed (lisa 1) 2 326 1 232 1 477
----------------------------------------------------------------------------
Varud (lisa 2) 3 347 2 962 3 301
----------------------------------------------------------------------------
Käibevara kokku 6 364 4 626 5 170
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Kinnisvarainvesteeringud (lisa 3) 407 407 408
----------------------------------------------------------------------------
Materiaalne põhivara (lisa 4) 8 189 8 267 9 374
----------------------------------------------------------------------------
Immateriaalne põhivara (lisa 5) 29 29 28
----------------------------------------------------------------------------
Põhivara kokku 8 625 8 703 9 810
----------------------------------------------------------------------------
----------------------------------------------------------------------------
AKTIVA (vara) KOKKU 14 989 13 329 14 980
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Võlakohustused (lisa 6) 2 795 2 030 1 931
----------------------------------------------------------------------------
Võlad ja ettemaksed (lisa 7) 3 185 2 198 2 822
----------------------------------------------------------------------------
Lühiajalised eraldised (lisa 8) 11 15 10
----------------------------------------------------------------------------
Lühiajalised kohustused kokku 5 991 4 243 4 763
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Pikaajalised võlakohustused (lisa 6) 3 563 3 563 3 413
----------------------------------------------------------------------------
Pikaajalised eraldised (lisa 8) 223 223 230
----------------------------------------------------------------------------
Pikaajalised kohustused kokku 3 786 3 786 3 643
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Kohustused kokku 9 777 8 029 8 406
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Aktsiakapital (nimiväärtuses) (lisa 9) 2 699 2 699 2 699
----------------------------------------------------------------------------
Ülekurss 364 364 364
----------------------------------------------------------------------------
Kohustuslik reservkapital 288 288 288
----------------------------------------------------------------------------
Ümberhindluse kursivahed (65) (16) (37)
----------------------------------------------------------------------------
Eelmiste perioodide jaotamata kasum 1 965 3 446 3 446
----------------------------------------------------------------------------
Aruandeaasta kasum (kahjum) (lisa 10) (39) (1 481) (186)
----------------------------------------------------------------------------
Omakapital kokku 5 212 5 300 6 574
----------------------------------------------------------------------------
----------------------------------------------------------------------------
PASSIVA (kohustused ja omakapital) KOKKU 14 989 13 329 14 980
----------------------------------------------------------------------------
KONSOLIDEERITUD KASUMI- JA KOONDKASUMIARUANNE
tuh EUR I kv 2015 I kv 2014
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Müügitulu (lisa 11) 5 108 5 351
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Müüdud toodangu kulu (3 922) (4 538)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Brutokasum 1 186 813
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Turustuskulud (833) (722)
--------------------------------------------------------------------------------
Üldhalduskulud (174) (173)
--------------------------------------------------------------------------------
Muud äritulud 65 27
--------------------------------------------------------------------------------
Muud ärikulud (208) (60)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Ärikasum (kahjum) (lisa 11) 36 (125)
--------------------------------------------------------------------------------
Neto finantskulu (72) (61)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Kasum(kahjum) enne tulumaksu (36) (186)
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PERIOODI PUHASKASUM (KAHJUM) (39) (186)
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Valuutakursside muutuste mõju konsolideerimisel (49) (45)
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PERIOODI KOONDKASUM(KAHJUM) (88) (231)
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Tava perioodi puhaskasum(kahjum) aktsia kohta (lisa 10) (0,01) (0,04)
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Lahustatud perioodi puhaskasum(kahjum) aktsia kohta (lisa (0,01) (0,04)
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2015. aasta teise kvartali vahearuande planeeritav avalikustamise aeg on nädal
35 (24.-28. august 2015)
Martin Kalle
CEO
+372 4478 331
[email protected]
Teate sisu inglise keeles
Pealkiri
Financial results, 3 months 2015
Teade
Pärnu, 2015-05-29 15:01 CEST (GLOBE NEWSWIRE) --
THE FIRST QUARTER IN SHORT
Consolidated net sales of the first quarter of 2015 was 5.1 mil. euros,
representing a 5% decrease on the first quarter compared to the same period in
2014. At the same time, consolidated EBITDA amounted to 253 thousand euros
(EBITDA 100 thousand euros in Q1 2014).
The sale in Skano Fibreboard OÜ Pärnu factory (incl. Isotex) was 1.8 mil.
euros, decreased as compared to the respective period last year by 15%, the
operating profit of the first quarter was 114 thousand euros compared with the
operating loss 54 thousand euros last year.
The turnover of Skano Fibreboard OÜ Püssi factory was 1.6 mil. euros,
representing 32% increase in the first quarter compared to the same period in
2014. Operating loss amounted to 9 thousand euros compared with the operating
loss 204 thousand euros last year.
Sales mainly increased due to sales to new markets. As our main foreign markets
Russia and Finland are still very weak due to the general economic situation we
have been continuously expanding the list of our target markets and made
significant efforts in product development. Remarkable sale to SAR in Q1 was a
good sample of entering into new markets. In the first 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.
Sales of Suomen Tuulielijona OY in Q1 2015 were at the same level compared to
last year, which amounted to 1,6 mil. euros. Suomen Tuulileijona OY is the
wholesaler of Skano fibreboard products in Finland, which was acquired in July
2015. In Q1 2014 sale of Suomen Tuulielijona OY was not consolidated yet and
was recorded under Skano Fibreboard OÜ sales.
The turnover of Skano Furniture Factory OÜ in Pärnu decreased in the first
quarter by 23% and amounted to 1.3 mil. euros. The operating loss of the first
quarter was 89 thousand euros as in 2014 the operating profit of the same
period was 122 thousand euros. Profitability was impacted by low sales volumes.
In the first quarter of 2015 sales to Russia decreased heavily due to very weak
demand by 52% as compared to 2014, also sales to Finland decreased 20%. Sales
grew in the Baltics and new markets. 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 7% as compared to the
same period last year being 653 thousand euros, operating loss was 240 thousand
euros compared with the sales 608 thousand and operating loss 245 thousand
euros in the first quarter of 2014. 2015 first quarter operating loss contains
also a loss from a drop of currency exchange rate of hryvnia 268 thousand
euros. Skano Furniture OÜ exchange rate loss amounting to 228 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 256 thousand euros in the same period of 2014).
Retail sale increased everywhere in the Baltics but decreased in Ukraine due to
the 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 first quarter in 2015 was 5.1 mil. euros (5.4
mil. euros in same period of 2014) representing a 5% decrease compared to Q1
2014. The Group’s gross margin in the first quarter of 2015 was 23% compared to
15% in the first quarter of 2014. Consolidated operating profit amounted to 36
thousand euros (operating loss 125 thousand euros from main activities in same
period 2014). The consolidated operating margin of net sales was 0.7% (-2.3%
from main activities in Q1 2014).
Consolidated net loss amounted to 39 thousand euros (compared to net loss 186
thousand euros in Q1 2014), and the net margin was -0.8% (-3.5% in Q1 2014).
POSITION OF FINANCIAL STATEMENT
As of 31.03.2015 the total assets of Skano Group AS amounted to 15.0 mil. euros
(31.03.2014: 15.0 mil. euros). The liabilities of the company accounted for 65%
(31.03.2014: 56%) thereof, i.e. 9.8 mil. euros (31.03.2014: 8.4 mil. euros).
Receivables and prepayments have increased by 0.8 mil. euros i.e. 56% decrease
within 12 months due to new receivables of Suomen Tuulileijona OY recently
acquired.
Inventories have been at the same level with 12 months, amounting to 3.3 mil.
euros on 31.03.2015. (31.03.2014: 3.3 mil. euros). Property, plant and
intangibles decreased by 1.2 mil. euros mainly due to one-off write-down of
Püssi factory assets by 0.9 mil. euros.
Short-term loans have increased by 0.9 mil. euros and amounted to 2.8 mil.
euros in 31.03.2015 which was result of increase of factoring liabilities of
Suomen Tuulileijona OY recently acquired and usage of bank overdraft
(31.03.2014: 1.9 mil. euros). Supplier payables, tax liabilities, other
payables, including payables to employees, and provisions amounted to 3.2 mil.
euros (31.03.2014: 2.8 mil. euros).
Long-term loans have decreased by 0.2 mil euros and amounted to 3.6 mil. euros
in 31.03.2015 (31.03.2014: 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 1.4 mil. euros to 9.8
mil. euros (31.03.2014: 8.4 mil. euros).
DIVISIONAL REVIEW
NET SALES BY BUSINESS SEGMENTS
th EUR % of net sales
--------------------------------------------------------------
Q1 2015 Q1 2014 Q1 2015 Q1 2014
--------------------------------------------------------------
Skano Fibreboard OÜ 3,445 3,388 67.8% 63.3%
--------------------------------------------------------------
Skano Furniture Factory OÜ 1,325 1,717 25.9% 32.1%
--------------------------------------------------------------
Skano Furniture OÜ retail 653 608 12.8% 11.4%
--------------------------------------------------------------
Suomen Tuulileijona OY 1,604 0 31.4% 0.0%
--------------------------------------------------------------
Elimination (1,919) (362) (37.6%) (6.8%)
--------------------------------------------------------------
TOTAL 5,108 5,351 100.0% 100.0%
--------------------------------------------------------------
NET SALES BY GEOGRAPHICAL SEGMENTS
th EUR % of net sales
---------------------------------------------------
Q1 2015 Q1 2014 Q1 2015 Q1 2014
---------------------------------------------------
Finland 2,076 2,181 40.6% 40.8%
---------------------------------------------------
Estonia 792 679 15.5% 12.7%
---------------------------------------------------
Russia 773 1,275 15.1% 23.8%
---------------------------------------------------
SAR 360 9 7.0% 0.2%
---------------------------------------------------
Great Britain 206 241 4.0% 4.5%
---------------------------------------------------
Sweden 199 176 3.9% 3.3%
---------------------------------------------------
Latvia 181 142 3.5% 2.7%
---------------------------------------------------
Lithuania 101 89 2.0% 1.7%
---------------------------------------------------
Ukraine 86 165 1.7% 3.1%
---------------------------------------------------
Kazakhstan 82 0 1.6% 0.0%
---------------------------------------------------
Denmark 56 6 1.1% 0.1%
---------------------------------------------------
France 54 20 1.1% 0.4%
---------------------------------------------------
Other countries 142 368 2.9% 6.7%
---------------------------------------------------
TOTAL 5,108 5,351 100.0% 100.0%
---------------------------------------------------
Regarding the markets, turnover has increased in Estonia, Latvia, Lithuania and
SAR. The turnover has decreased most in Russia and Ukraine.
PROFIT BY BUSINESS SEGMENTS
th EUR Q1 2015 Q1 2014
-----------------------------------------
Skano Furniture factory (89) 122
-----------------------------------------
Skano Furniture retail (240) (245)
-----------------------------------------
Skano Fibreboard 105 (258)
-----------------------------------------
Suomen Tuulileijona OY 41 0
-----------------------------------------
Elimination 219 256
-----------------------------------------
TOTAL 36 (125)
-----------------------------------------
Net financial costs (72) (61)
-----------------------------------------
Income tax (3) 0
-----------------------------------------
NET PROFIT (39) (186)
-----------------------------------------
SKANO FIBREBOARD
The net sales of Skano Fibreboard in the first quarter of 2015 amounted to 3.4
mil. euros and operating profit to 105 thousand euros. In the same period last
year, the turnover of Skano Fibreboard totaled also to 3.4 mil. euros and the
operating loss from main activities 258 thousand euros.
The increase in sales in the first quarter compare to last year took place in
Estonia and SAR, but declined in Russia, Taiwan and Netherlands.
NET SALES BY GEOGRAPHICAL SEGMENTS
th EUR % of net sales
-----------------------------------------------------------------------------
Q1 2015 Q1 2014 Q1 2015 Q1 2014
-----------------------------------------------------------------------------
Finland (incl. to Suomen Tuulileijona OY) 1,612 1,639 46.8% 48.4%
-----------------------------------------------------------------------------
Estonia 415 326 12.0% 9.6%
-----------------------------------------------------------------------------
Russia 368 437 10.7% 12.9%
-----------------------------------------------------------------------------
SAR 360 9 10.4% 0.3%
-----------------------------------------------------------------------------
Great Britain 199 231 5.8% 6.8%
-----------------------------------------------------------------------------
Sweden 199 176 5.8% 5.2%
-----------------------------------------------------------------------------
Latvia 57 64 1.7% 1.9%
-----------------------------------------------------------------------------
Denmark 56 6 1.6% 0.2%
-----------------------------------------------------------------------------
Germany 38 8 1.1% 0.2%
-----------------------------------------------------------------------------
UAE 36 9 1.0% 0.3%
-----------------------------------------------------------------------------
Other countries 105 483 3.1% 14.2%
-----------------------------------------------------------------------------
TOTAL 3,445 3,388 100.0% 100.0%
-----------------------------------------------------------------------------
th EUR Net sales Operating Profit
--------------------------------------------------------------------------
Q1 2015 Q1 2014 Q1 2015 Q1 2014
--------------------------------------------------------------------------
Pärnu Fibreborad factory 1,389 1,633 100 (15)
--------------------------------------------------------------------------
Püssi Fibreboard factory 1,577 1,197 (9) (204)
--------------------------------------------------------------------------
Pärnu interior boards factory (Isotex) 424 493 14 (39)
--------------------------------------------------------------------------
Not allocated 55 65 0 0
--------------------------------------------------------------------------
TOTAL 3,445 3,388 105 (258)
--------------------------------------------------------------------------
The net sales of the Pärnu fibreboard factory and interior board’s line
decreased 15% in the first quarter of 2015 compared to the same quarter of 2014
and amounted to 1.8 mil. euros.
The turnover of Püssi fibreboard factory amounted to 1.6 mil. euros growing 32%
compared to the same quarter in 2014 (turnover 1.2 mil. euros in Q1 2014).
Output of Püssi Fibreboard factory grew in the first 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 first quarter in 2015.
RETAIL SALES BY COUNTRIES
th EUR % of net sales Number of stores
-----------------------------------------------------------------
Q1 2015 Q1 2014 Q1 2015 Q1 2014 31.03.15 31.03.14
-----------------------------------------------------------------
Estonia 369 329 56.5% 54.1% 4 4
-----------------------------------------------------------------
Latvia 124 78 19.0% 12.8% 1 1
-----------------------------------------------------------------
Lithuania 84 73 12.9% 12.0% 1 1
-----------------------------------------------------------------
Ukraine 76 128 11.6% 21.1% 4 4
-----------------------------------------------------------------
TOTAL 653 608 100.0% 100.0% 10 10
-----------------------------------------------------------------
Retail sale amounted to 653 thousand euros in the first quarter of 2015 and
operating loss 240 thousand euros (sales 608 thousand euros and operating loss
245 thousand euros in Q1 2014). Current year first quarter operating loss 240
thousand euros contains also loss from drop of currency exchange rate of
hryvnia 268 thousand euros. Skano Furniture OÜ exchange rate loss amounting to
228 thousand euros are eliminated from the consolidated results as they are
intragroup transactions against another group company (realized loss from
currency exchange rate 256 thousand euros in the same period of 2014).
FURNITURE PRODUCTION
The net sales of the Skano Furniture Factory in the first quarter amounted to
1.3 mil. euros and operating loss to 89 thousand euros. In the same period last
year, the turnover of the factory amounted to 1.7 mil. euros and the profit to
122 thousand euros. As compared to the previous year the turnover of the
factory has decreased 23%. In the first quarter the sales decreased in Russia
by 52% and in Finland by 20% due to colder economic and political environment
and weaker demand for durable goods.
FURNITURE FACTORY SALES BY COUNTRIES
th EUR % of net sales
---------------------------------------------------
Q1 2015 Q1 2014 Q1 2015 Q1 2014
---------------------------------------------------
Russia 433 542 32.7% 31.6%
---------------------------------------------------
Finland 405 838 30.6% 48.8%
---------------------------------------------------
Other countries 146 40 11.0% 2.3%
---------------------------------------------------
Subsidiaries 341 297 25.7% 17.3%
---------------------------------------------------
TOTAL 1,325 1,717 100.0% 100.0%
---------------------------------------------------
FORECAST AND DEVELOPMENT
SKANO FIBREBOARD. We expect sales of Skano Fibreboard in Q2 2015 to be lower
compared to sales of the same period last year. The main reason behind sale’s
decline is planned regular stoppage in the second quarter in both factories.
Also the technical maintenance break in Püssi due to the fire of heat exchanger
to restart the factory was slightly longer than expected.
Continuously weak economic situation in our core markets will impact our sales
in Finland and Russia. On the other hand we see already better results in
efficiency even with lower production volumes compared to last year as a result
of the recent production improvement plan.
The management’s priority is to secure the factories with sufficient sales
volumes and to improve energy efficiency in the production process, where 2015
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 Q2 2015 to remain
at the same level compared to sales of the same period last year. We expect
sale increase in the Baltics but decrease in Ukraine due to political and
economic instability.
SKANO FURNITURE FACTORY. In the second 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 Q2 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. By the current
moment in the second quarter we have launched a new modern furniture range
called Trevik plus other new ranges are expected to come out soon.
FINANCIAL HIGHLIGHTS
th EUR 3 m 2015 3 m 2014 3 m 2013
---------------------------------------------------
Income statement
---------------------------------------------------
Revenue 5,108 5,351 4,361
---------------------------------------------------
EBITDA 253 100 (37)
---------------------------------------------------
EBITDA margin 5.0% 1.9% (0.8%)
---------------------------------------------------
Operating profit 36 (125) (266)
---------------------------------------------------
Operating margin 0.7% (2.3%) (6.1%)
---------------------------------------------------
Net profit (39) (186) (322)
---------------------------------------------------
Net margin (0.8%) (3.5%) (7.4%)
---------------------------------------------------
----------------------------------------------------
Balance sheet (31.03)
---------------------------------------------------
Total assets 14,989 14,980 15,511
---------------------------------------------------
Return on assets (0.3%) (1.2%) (2.1%)
---------------------------------------------------
Equity 5,212 6,574 7,174
---------------------------------------------------
Return on equity (0.7%) (2.8%) (4.5%)
---------------------------------------------------
Debt-to-equity ratio 65.2% 56.1% 53.8%
---------------------------------------------------
----------------------------------------------------
Share (31.03)
---------------------------------------------------
Closing price 0.845 0.995 1,190
---------------------------------------------------
Earnings per share (0.01) (0.04) (0.07)
---------------------------------------------------
Price-earnings ratio (84.50) (24.88) (17.00)
---------------------------------------------------
Book value of a share 1.16 1.46 1.59
---------------------------------------------------
Market to book ratio 0.73 0.68 0.75
---------------------------------------------------
Market capitalization 3,802 4,477 5,354
---------------------------------------------------
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 31.03.2015 31.12.2014 31.03.2014
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Cash and bank 691 432 392
----------------------------------------------------------------------------
Receivables and prepayments (Note 1) 2,326 1,232 1,477
----------------------------------------------------------------------------
Inventories (Note 2) 3,347 2,962 3,301
----------------------------------------------------------------------------
Total current assets 6,364 4,626 5,170
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Investment property (Note 3) 407 407 408
----------------------------------------------------------------------------
Tangible fixed assets (Note 4) 8,189 8,267 9,374
----------------------------------------------------------------------------
Intangible fixed assets (Note 5) 29 29 28
----------------------------------------------------------------------------
Total fixed assets 8,625 8,703 9,810
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TOTAL ASSETS 14,989 13,329 14,980
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Debt obligations (Note 6) 2,795 2,030 1,931
----------------------------------------------------------------------------
Payables and prepayments (Note 7) 3,185 2,198 2,822
----------------------------------------------------------------------------
Short-term provisions (Note 8) 11 15 10
----------------------------------------------------------------------------
Total current liabilities 5,991 4,243 4,763
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Non-current debt obligations (Note 6) 3,563 3,563 3,413
----------------------------------------------------------------------------
Non-current provisions (Note 8) 223 223 230
----------------------------------------------------------------------------
Total non-current liabilities 3,786 3,786 3,643
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Total liabilities 9,777 8,029 8,406
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Share capital at nominal value (Note 9) 2,699 2,699 2,699
----------------------------------------------------------------------------
Issue premium 364 364 364
----------------------------------------------------------------------------
Statutory capital reserve 288 288 288
----------------------------------------------------------------------------
Currency translation (65) (16) (37)
----------------------------------------------------------------------------
Retained profits 1,965 3,446 3,446
----------------------------------------------------------------------------
Net profit (loss) for the year (Note 10) (39) (1,481) (186)
----------------------------------------------------------------------------
Total equity 5,212 5,300 6,574
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 14,989 13,329 14,980
----------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME
th EUR 1st Q 2015 1st Q 2014
---------------------------------------------------------------
---------------------------------------------------------------
---------------------------------------------------------------
RETURN ON SALES (Note 11) 5,108 5,351
---------------------------------------------------------------
---------------------------------------------------------------
Cost of production sold (3,922) (4,538)
---------------------------------------------------------------
---------------------------------------------------------------
Gross profit 1,186 813
---------------------------------------------------------------
---------------------------------------------------------------
Marketing expenses (833) (722)
---------------------------------------------------------------
General administrative expenses (174) (173)
---------------------------------------------------------------
Other income 65 27
---------------------------------------------------------------
Other expenses (208) (60)
---------------------------------------------------------------
---------------------------------------------------------------
Operating profit (loss) (Note 11) 36 (125)
---------------------------------------------------------------
Financial income and financial expenses (72) (61)
---------------------------------------------------------------
---------------------------------------------------------------
Profit (loss) before taxes (36) (186)
---------------------------------------------------------------
Prepaid income tax (3) 0
---------------------------------------------------------------
---------------------------------------------------------------
NET PROFIT (LOSS) FOR THE PERIOD (39) (186)
---------------------------------------------------------------
---------------------------------------------------------------
Basic earnings per share (Note 10) (0.01) (0.04)
---------------------------------------------------------------
Diluted earnings per share (Note 10) (0.01) (0.04)
---------------------------------------------------------------
---------------------------------------------------------------
Other comprehensive income:
---------------------------------------------------------------
Currency translation differences (49) (45)
---------------------------------------------------------------
---------------------------------------------------------------
TOTAL COMPREHENSIVE INCOME (88) (231)
---------------------------------------------------------------
The planned time of publishing of interim report of the second quarter of 2015
is week 35 (24-28 August 2015)
Martin Kalle
CEO
+372 4478 331
[email protected]