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
5248
Manused
Esitamise kuupäev ja aeg
27.11.2015 16:08:54
Teate sisu eesti keeles
Pealkiri
Majandustulemused 9 kuud 2015
Teade
Pärnu, 2015-11-27 15:08 CET (GLOBE NEWSWIRE) --
KOKKUVÕTE
Skano Group ASi 2015 aasta kolmanda kvartali konsolideeritud müügitulu kahanes
2014 aasta kolmanda kvartaliga võrreldes 3% ja oli 4,8 mln eurot. Kontserni
EBITDA oli kolmandas kvartalis 287 tuhat eurot, 2014 aasta kolmandas kvartalis
oli müük vastavalt 5,0 mln eurot ja EBITDA 165 tuhat eurot. 2015 aasta 9 kuu
kogukäive ulatus 14,5 mln euroni, vähenedes aastaga 7% (2014 9 kuu käive: 15,7
mln eurot). Käesoleva aasta esimese 9 kuu EBITDA oli 811 tuhat eurot, ületades
eelmise aasta tulemust (2014 9 kuu EBITDA: 696 tuhat eurot). Kuigi ettevõtte
käive on aastaga märgatavalt langenud, eelkõige nõrga nõudluse tõttu Soomes ja
Venemaal, on suudetud EBITDA marginaali parandada ning hoida see kogunumbrina
eelmisest aastast kõrgemal tasemel. Eelkõige on selle põhjuseks edukad
parendustööd kiudplaadi tootmises, mis on võimaldanud vähendada toote omahinda
ning toota kasumlikult varasemast tunduvalt madalamate mahtude juures.
Skano Fibreboard OÜ Pärnu tehaste müük (sh. Isotex) oli kolmandas kvartalis 2,0
mln eurot jäädes eelmise aasta sama perioodiga võrreldes samale tasemele. 2015
aasta kolmanda kvartali ärikasum oli 140 tuhat eurot võrreldes 48 tuhade eurose
ärikasumiga eelmise aasta samal perioodil.
Skano Fibreboard OÜ Püssi kiudplaaditehase käive oli 1,3 mln eurot kahanedes 7%
võrreldes eelmise aasta sama perioodiga. 2015 aasta kolmada kvartali ärikasum
oli 5 tuhat eurot võrrelduna 24 tuhande eurose ärikahjumiga eelmise aasta samal
perioodil.
Skano Fibreboard OÜ müük kahanes põhiturgudel. Tulenevalt meie põhiturgude
Venemaa ja Soome jätkuvalt nõrgast majandusolukorrast oleme laiendamas oma
sihtturgude nimekirja ja teinud olulisi kulutusi erinevate toodete
arendamiseks. Kolmandas kvartalis teostasime jätkuvalt mõlemas tehases mitmeid
tootmisprotsesside parendusi, et tagada madalam toote omahind ning kasumilävi.
Ettevõtte juhtkonna prioriteediks on jätkuvalt tehaste toodangule müügi
kindlustamine maksimaalse tootmisvõimsuse tagamiseks ning tootmisprotsesside
efektiivistamine.
Suomen Tuulileijona OY müük vähenes 2015 aasta kolmandas kvartalis 2%
võrrelduna eelmise aasta sama perioodiga, mis oli 1,3 mln eurot. Suomen
Tuulileijona OY on Skano kiudplaadi edasimüüja Soomes, mis soetati 2014 juuli
alguses.
Skano Furniture Factory OÜ Pärnu mööblivabriku 2015 aasta kolmanda kvartali
käive kahanes eelmise aasta sama perioodiga võrreldes 2 % ja oli 1,1 mln eurot.
Kolmanda kvartali ärikahjum oli 88 tuhat eurot võrrelduna 65 tuhande eurose
ärikahjumiga 2014 aasta kolmandas kvartalis. Kasumlikkusele mõjus negatiivselt
väike müügimaht. Müük Venemaale vähenes 13% võrrelduna 2014 sama perioodiga
tulenevalt nõrgast nõudlusest. Müük Soome kasvas vähesel määral ning müük
Baltikumis langes natuke. Lisaks olemasolevatel turgudel uute müügivõimaluste
otsimisele on ettevõtte jaoks oluline suund ka müük uutele turgudele sh. USA,
Suurbritannia ja Prantsusmaa, kuhu oleme endiselt panustamas olulisi ajalisi ja
rahalisi ressursse.
Skano Furniture OÜ jaemüügiketi käive kasvas eelmise aasta sama perioodiga
võrreldes 8% ja oli 602 tuhat eurot ning ärikasum oli 6 tuhat eurot võrrelduna
14 tuhande eurose ärikahjumiga 2014 aasta kolmandas kvartalis. 2015 aasta
kolmanda kvartali ärikasum 6 tuhat eurot sisaldas ka kursikahjumit grivna
kursimuutusest summas 22 tuhat. 2014 aasta sama perioodi ärikahjum 14 tuhat
eurot sisaldas kursikahjumit vastavalt 20 tuhat eurot.
Mööbli jaemüük kasvas Eestis, Lätis ja Ukrainas, kuid kahanes vähesel määral
Leedus. Jaemüük on jätkuvalt nõrk Ukrainas põhjustatuna konfliktist
Ida-Ukrainas ning riigi raskest majanduslikust olukorrast. 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 kolmanda kvartali müügitulu oli 4,8 mln eurot (2014 aastal 5,0 mln
eurot), mis tähendab 2014 aasta kolmanda kvartaliga võrreldes 3%-list
kahanemist. Kontserni müügikäibe brutorentaablus oli 2015 aasta kolmandas
kvartalis 22% (võrrelduna 2014 aasta kolmanda kvartali 18%-ga). Konsolideeritud
ärikasum oli kolmandas kvartalis 79 tuhat eurot (2014 aasta samal perioodil
põhitegevuse ärikahjum oli 58 tuhat eurot). Konsolideeritud müügikäibe
ärirentaablus oli 1,6% (võrrelduna 2014 aasta kolmanda kvartali põhitegevuse
ärirentaablusega -1,2%).
Konsolideeritud puhaskasum oli 5 tuhat eurot (2014 aasta kolmandas kvartalis
oli põhitegevuse puhaskahjum 135 tuhat eurot) ja puhasrentaablus oli 0,1%
(võrrelduna 2014 aasta kolmanda kvartali puhasrentaablusega -2,7%).
FINANTSSEISUNDI ARUANNE
Kontserni koguvarade maht oli 30.09.2015 seisuga 14,3 mln eurot (30.09.2014:
15,5 mln eurot), millest ettevõtte kohustused moodustasid 30.09.2015 seisuga
9,1 mln eurot (30.09.2014: 8,9 mln eurot) ehk 64% (30.09.2014: 58%).
Nõuded ja ettemaksud on kahanenud 0,1 mln eurot, vähenedes 12 kuuga 2% ning
moodustades 1,7 mln eurot.
Varud on vähenesid 12 kuuga 0,1 mln eurot, moodustades 30.09.2015 seisuga 3,4
mln eurot. Seisuga 30.09.2014 oli varude maht 3,5 mln eurot. Materiaalne ja
immateriaalne põhivara vähenes 1,2 mln euro võrra sisaldades Püssi varade
ühekordset allahindlust summas 0,9 mln eurot. Ülejäänud vähenemine tulenes
amortisatsioonist.
Lühiajalised laenukohustused olid seisuga 30.09.2015 1,9 mln eurot (30.09.2014
1,7 mln eurot) ja suurenesid 12 kuuga kokku 0,2 mln eurot, mis tulenes
arvelduskrediidi jooksvast kasutusest ja laenu restruktureerimisest pika- ja
lühiajalise maksete osas. Võlad hankijatele, maksukohustused, muud võlad, sh
võlad töötajatele ja eraldised moodustasid 2,9 mln eurot (seisuga 30.09.2014
2,9 mln eurot).
Pikajalised laenukohustused vähenesid 0,1 mln eurot moodustades 30.09.2015
seisuga 4,0 mln eurot (seisuga 30.09.2014 vastavalt 4,1 mln eurot). Vähenemine
oli põhjustatud laenu restruktureerimisest pika- ja lühiajalise maksete osas.
Lühi- ja pikaajalised kohustused kokku suurenesid 0,2 mln eurot 9,1 mln euroni
(30.09.2014 8,9 mln eurot).
ÄRIVALDKONDADE ÜLEVAADE
MÜÜK SEGMENTIDE LÕIKES
tuh EUR % käibest
--------------------------------------------------------------------------------
III kv. 2015 III kv. 2014 III kv. III kv. 2014
2015
--------------------------------------------------------------------------------
Skano Fibreboard OÜ 3 307 3 369 68,9% 67,8%
--------------------------------------------------------------------------------
Skano Furniture Factory 1 097 1 119 22,8% 22,5%
OÜ
--------------------------------------------------------------------------------
Skano Furniture OÜ 602 556 12,5% 11,2%
jaemüük
--------------------------------------------------------------------------------
Suomen Tuulielijona OÜ 1 346 1 376 28,0% 27,7%
--------------------------------------------------------------------------------
Elimineerimine (1 549) (1 452) (32,3%) (29,2%)
--------------------------------------------------------------------------------
KOKKU 4 803 4 968 100,0% 100,0%
--------------------------------------------------------------------------------
MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
---------------------------------------------------------------------
III kv. 2015 III kv. 2014 III kv. 2015 III kv. 2014
---------------------------------------------------------------------
Soome 1 794 1 867 37,4% 37,6%
---------------------------------------------------------------------
Eesti 894 806 18,6% 16,2%
---------------------------------------------------------------------
Venemaa 882 1 061 18,4% 21,4%
---------------------------------------------------------------------
Suurbritannia 349 286 7,3% 5,8%
---------------------------------------------------------------------
Läti 196 168 4,1% 3,4%
---------------------------------------------------------------------
Leedu 142 143 3,0% 2,9%
---------------------------------------------------------------------
Rootsi 121 158 2,5% 3,2%
---------------------------------------------------------------------
Ukraina 115 92 2,4% 1,9%
---------------------------------------------------------------------
Taani 47 15 1,0% 0,3%
---------------------------------------------------------------------
AÜE 45 45 0,9% 0,9%
---------------------------------------------------------------------
Saksamaa 37 30 0,8% 0,6%
---------------------------------------------------------------------
Prantsusmaa 28 27 0,6% 0,5%
---------------------------------------------------------------------
Teised riigid 153 270 3,2% 5,4%
---------------------------------------------------------------------
KOKKU 4 803 4 968 100,0% 100,0%
---------------------------------------------------------------------
Turgude lõikes on käive kasvanud Suurbritannias, Eestis ja Lätis. Enim on müük
vähenenud Venemaal ja Rootsis.
KASUM SEGMENTIDE LÕIKES
tuh EUR III kv. 2015 III kv. 2014
------------------------------------------------------
Skano Furniture Factory OÜ (88) (65)
------------------------------------------------------
Skano Furniture OÜ jaemüük 6 (14)
------------------------------------------------------
Skano Fibreboard OÜ 145 24
------------------------------------------------------
Suomen Tuulileijona OY 4 (12)
------------------------------------------------------
Elimineerimine 12 9
------------------------------------------------------
KOKKU 79 (58)
------------------------------------------------------
Neto finantskulud (74) (77)
------------------------------------------------------
Tulumaksukulu 0 0
------------------------------------------------------
PUHASKASUM 5 (135)
------------------------------------------------------
SKANO FIBREBOARD
Skano Fibreboard müügitulu oli 2015 aasta kolmandas kvartalis 3,3 mln eurot ja
ärikasum 145 tuhat eurot. Eelmise aasta samal perioodil oli üksuse käive 3,4
mln eurot ja ärikasum 24 tuhat eurot.
Eelmise aasta sama perioodiga võrreldes kahanes müük emin Venemaal. Müük kasvas
Eestis ja Suurbritannias.
MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
--------------------------------------------------------------------------------
III kv. III kv. III kv. III kv.
2015 2014 2015 2014
--------------------------------------------------------------------------------
Soome (sh müük Suomen 1 297 1 298 39,2% 38,5%
Tuulileijona OY-le)
--------------------------------------------------------------------------------
Eesti 542 476 16,4% 14,1%
--------------------------------------------------------------------------------
Venemaa 502 623 15,2% 18,5%
--------------------------------------------------------------------------------
Suurbritannia 331 250 10,0% 7,4%
--------------------------------------------------------------------------------
Rootsi 121 158 3,7% 4,7%
--------------------------------------------------------------------------------
Läti 87 83 2,6% 2,5%
--------------------------------------------------------------------------------
Taani 47 15 1,4% 0,4%
--------------------------------------------------------------------------------
AÜE 45 45 1,4% 1,3%
--------------------------------------------------------------------------------
Leedu 43 45 1,3% 1,3%
--------------------------------------------------------------------------------
Ukraina 41 42 1,2% 1,2%
--------------------------------------------------------------------------------
Teised riigid 251 334 7,6% 9,9%
--------------------------------------------------------------------------------
KOKKU 3 307 3 369 100,0% 100,0%
--------------------------------------------------------------------------------
tuh EUR Müük Ärikasum
--------------------------------------------------------------------------------
III kv. III kv. III kv. III kv.
2015 2014 2015 2014
--------------------------------------------------------------------------------
Pärnu kiudplaadivabrik 1 425 1 421 138 36
--------------------------------------------------------------------------------
Püssi kiudplaadivabrik 1 319 1 395 5 (24)
--------------------------------------------------------------------------------
Pärnu vääristamisüksus 529 553 2 12
(Isotex)
--------------------------------------------------------------------------------
Allokeerimata 34 0 0 0
--------------------------------------------------------------------------------
KOKKU 3 307 3 369 145 24
--------------------------------------------------------------------------------
Pärnu kiudplaadivabriku ja siseviimistlusplaatide liini käive jäi samale
tasemele võrreldes eelmise aasta kolmanda kvartaliga ja oli 2,0 miljonit eurot.
Püssis asuva kiudplaaditehase käive oli 1,3 mln eurot kahanedes eelmise aasta
teise kvartaliga võrreldes 7% (2014 kolmandas kvartalis oli müük 1,4 mln
eurot).
SKANO FURNITURE
MÖÖBLI JAEMÜÜK
Skano Group ASi mööbli jaeäri opereerivad tütarfirma Skano Furniture OÜ ja
selle tütarfirmad Lätis, Leedus ja Ukrainas. Seisuga 30.09.2015 on
mööblikaupluste ketis kokku 11 kauplust: kolm Tallinnas, üks Tartus ja üks
Pärnus, Riias, Vilniuses, kaks Kiievis, üks Harkovis ja Dnepropetrovskis.
JAEMÜÜK RIIKIDE LÕIKES
tuh EUR % käibest Kaupluste arv
--------------------------------------------------------------------------------
III kv. 2015 III kv. III kv. III kv. 30.09.15 30.09.14
2014 2015 2014
--------------------------------------------------------------------------------
Eesti 344 323 57,1% 58,1% 4 5
--------------------------------------------------------------------------------
Läti 109 85 18,1% 15,3% 1 1
--------------------------------------------------------------------------------
Leedu 75 98 12,5% 17,6% 1 1
--------------------------------------------------------------------------------
Ukraina 74 50 12,3% 9,0% 4 4
--------------------------------------------------------------------------------
Kokku 602 556 100,0% 100,0% 10 11
--------------------------------------------------------------------------------
Mööbli jaemüük 2015 aasta kolmandas kvartalis moodustas 602 tuhat eurot,
kasvades eelmise aasta sama perioodiga 8%. Ärikasum oli kolmandas kvartalis 6
tuhat eurot (2014 kolmandas kvartali müük oli 556 tuhat eurot ning ärikahjum 14
tuhat eurot). 2015 aasta kolmanda kvartali ärikasum 6 tuhat eurot sisaldas ka
kursikahjumit grivna kursimuutusest 22 tuhat eurot. 2014 aasta kolmandas
kvartalis oli grivna kursimuutusest tulenev kursikahjum 20 tuhat eurot.
MÖÖBLI TOOTMINE
Skano Furniture Factory OÜ Pärnu mööblivabrikus oli 2015 aasta kolmanda
kvartali müügitulu 1,1 mln eurot ja ärikahjum 88 tuhat eurot. Eelmise aasta
samal perioodil oli mööblivabriku käive samuti 1,1 mln eurot ja ärikahjum 65
tuhat eurot. Võrreldes eelmise aastaga kahanes vabriku käive 2%. Tulenevalt
Venemaa üldisest majanduslikust olukorrast ning sealse importkauba ostujõu
vähenemisest langes müük Venemaale teises kvartalis 13%. Müük Soome kasvas
vähasel määral ning müük Baltikumis jäi samale tasemele.
MÖÖBLIVABRIKU MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
-----------------------------------------------------------------------
III kv. 2015 III kv. 2014 III kv. 2015 III kv. 2014
-----------------------------------------------------------------------
Soome 404 362 36,8% 32,4%
-----------------------------------------------------------------------
Venemaa 380 438 34,6% 39,1%
-----------------------------------------------------------------------
Teised riigid 51 35 4,6% 3,1%
-----------------------------------------------------------------------
Tütarettevõtted 262 284 24,0% 25,4%
-----------------------------------------------------------------------
Kokku 1 097 1 119 100,0% 100,0%
-----------------------------------------------------------------------
PROGNOOS JA ARENG
SKANO FIBREBOARD. Prognoosime, et Skano Fibrebordi käive 2015 aasta neljandas
kvartalis jääb samale tasemele võrreldes eelmise aasta sama perioodi käibega.
Väiksem müügimaht tuleb põhiturgudelt põhjustatuna nõrgast nõudlusest, mida
proovime kompenseerida müügiga uutele turgudele. 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 tehastele piisava müügimahu kindlustamisele ja
tootmisprotsessi energiaefektiivsuse parandamisele, kuhu on suunatud 2015
investeeringute ja parenduste programm. Efektiivsuse tõus saavutatakse eelkõige
väiksema energiakulu ning tehnoloogiliste parenduste tõttu vähenenud
praaktoodangu ning tootmisseisakute osakaalu näol.
SKANO MÖÖBLI JAEMÜÜK. Prognoosime, et 2015 aasta neljanda kvartali jaemüük
kahaneb võrreldes eelmise aasta sama perioodi müügiga. Kuigi ootame neljandas
kvartalis müügi stabiilsust Baltikumis, siis tagasilööki müügile prognoosime
Ukrainast tulenevalt sealsest poliitilisest ja majanduslikust ebastabiilusest.
SKANO MÖÖBLIVABRIK. 2015 aasta neljandas kvartalis prognoosime mööblivabrikus
eelmise aastaga võrreldes väiksemat käivet tulenevalt üldisest halvenenud
majanduskeskkonnast lähiturgudel ja seda eriti Venemaa osas. Venemaal on müügi
vähenemine põhjustatud eelkõige nõrgast valuutast ning laiapõhjalisest
majanduslangusest ning madalamast tarbijakindlusest.
Uute turgude müük ei ületa 2015 põhiturgudelt tekkinud mahajäämust, kuid
eesmärk on 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 väljatöötamise ja alternatiivsete
müügikanalite arendamisega.
FINANTSSUHTARVUD
tuh EUR 9 kuud 2015 9 kuud 2014 9 kuud 2013
-------------------------------------------------------------------------------
Kasumiaruanne
-------------------------------------------------------------------------------
Müügitulu 14 564 15 669 14 329
-------------------------------------------------------------------------------
EBITDA 811 696 440
-------------------------------------------------------------------------------
EBITDA rentaablus 5,6% 4,4% 3,1%
-------------------------------------------------------------------------------
Ärikasum 183 29 (242)
-------------------------------------------------------------------------------
Ärirentaablus 1,3% 0,2% (1,7%)
-------------------------------------------------------------------------------
Puhaskasum (43) (179) (415)
-------------------------------------------------------------------------------
Puhasrentaablus (0,3%) (1,1%) (2,9%)
-------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Bilanss (30.09)
-------------------------------------------------------------------------------
Koguvarad 14 291 15 503 14 916
-------------------------------------------------------------------------------
Koguvarade puhasrentaablus (0,3%) (1,2%) (2,8%)
-------------------------------------------------------------------------------
Omakapital 5 180 6 586 7 090
-------------------------------------------------------------------------------
Omakapitali puhasrentaablus (0,8%) (2,7%) (5,9%)
-------------------------------------------------------------------------------
Võlakordaja 63,8% 57,5% 52,5%
-------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Aktsia (30.09)
-------------------------------------------------------------------------------
Aktsia sulgemishind (EUR) 0,70 0,93 1,30
-------------------------------------------------------------------------------
Puhaskasum aktsia kohta (EUR) (0,01) (0,04) (0,09)
-------------------------------------------------------------------------------
Hind-tulu (PE) suhtarv (70,00) (23,25) (14,44)
-------------------------------------------------------------------------------
Aktsia raamatupidamisväärtus (EUR) 1,15 1,46 1,58
-------------------------------------------------------------------------------
Turuhinna ja raamatupidamisväärtuse suhe 0,61 0,64 0,82
-------------------------------------------------------------------------------
Turukapitalisatsioon 3 149 4 184 5 849
-------------------------------------------------------------------------------
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 30.09.2015 31.12.2014 30.09.2014
----------------------------------------------------------------------------
Raha ja raha ekvivalendid 624 432 509
----------------------------------------------------------------------------
Nõuded ja ettemaksed (lisa 1) 1 735 1 232 1 761
----------------------------------------------------------------------------
Varud (lisa 2) 3 439 2 962 3 487
----------------------------------------------------------------------------
Käibevara kokku 5 798 4 626 5 757
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Kinnisvarainvesteeringud (lisa 3) 406 407 407
----------------------------------------------------------------------------
Materiaalne põhivara (lisa 4) 8 064 8 267 9 309
----------------------------------------------------------------------------
Immateriaalne põhivara (lisa 5) 23 29 30
----------------------------------------------------------------------------
Põhivara kokku 8 493 8 703 9 746
----------------------------------------------------------------------------
----------------------------------------------------------------------------
AKTIVA (vara) KOKKU 14 291 13 329 15 503
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Võlakohustused (lisa 6) 1 908 2 030 1 651
----------------------------------------------------------------------------
Võlad ja ettemaksed (lisa 7) 2 942 2 198 2 897
----------------------------------------------------------------------------
Lühiajalised eraldised (lisa 8) 4 15 3
----------------------------------------------------------------------------
Lühiajalised kohustused kokku 4 854 4 243 4 551
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Pikaajalised võlakohustused (lisa 6) 4 013 3 563 4 127
----------------------------------------------------------------------------
Pikaajalised eraldised (lisa 8) 244 223 239
----------------------------------------------------------------------------
Pikaajalised kohustused kokku 4 257 3 786 4 366
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Kohustused kokku 9 111 8 029 8 917
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Aktsiakapital (nimiväärtuses) (lisa 9) 2 699 2 699 2 699
----------------------------------------------------------------------------
Ülekurss 364 364 364
----------------------------------------------------------------------------
Kohustuslik reservkapital 288 288 288
----------------------------------------------------------------------------
Muud reservid 4 0 0
----------------------------------------------------------------------------
Ümberhindluse kursivahed (90) (16) (32)
----------------------------------------------------------------------------
Eelmiste perioodide jaotamata kasum 1 961 3 446 3 446
----------------------------------------------------------------------------
Aruandeaasta kasum (kahjum) (lisa 10) (46) (1 481) (179)
----------------------------------------------------------------------------
Omakapital kokku 5 180 5 300 6 586
----------------------------------------------------------------------------
----------------------------------------------------------------------------
PASSIVA (kohustused ja omakapital) KOKKU 14 291 13 329 15 503
----------------------------------------------------------------------------
KONSOLIDEERITUD KASUMI- JA KOONDKASUMIARUANNE
tuh EUR III kv III kv 9 k 9 k
2015 2014 2015 2014
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Müügitulu (lisa 11) 4 803 4 968 14 564 15 669
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Müüdud toodangu kulu (3 753) (4 053) (11 (12
327) 772)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Brutokasum 1 050 915 3 237 2 897
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Turustuskulud (768) (785) (2 395) (2 237)
--------------------------------------------------------------------------------
Üldhalduskulud (168) (141) (521) (472)
--------------------------------------------------------------------------------
Muud äritulud 63 21 329 44
--------------------------------------------------------------------------------
Muud ärikulud (98) (68) (467) (203)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Ärikasum (kahjum) (lisa 11) 79 (58) 183 29
--------------------------------------------------------------------------------
Neto finantskulu (74) (77) (226) (208)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Kasum(kahjum) enne tulumaksu 5 (135) (43) (179)
--------------------------------------------------------------------------------
Tulumaksukulu 0 0 (3) 0
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
PERIOODI PUHASKASUM (KAHJUM) 5 (135) (46) (179)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum:
--------------------------------------------------------------------------------
Valuutakursside muutuste mõju 39 (16) (74) (40)
konsolideerimisel
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
PERIOODI KOONDKASUM(KAHJUM) 44 (151) (120) (219)
--------------------------------------------------------------------------------
Tava perioodi puhaskasum(kahjum) aktsia (0,00) 0,03 (0,01) (0,04)
kohta (lisa 10)
--------------------------------------------------------------------------------
Lahustatud perioodi puhaskasum(kahjum) (0,00) 0,03 (0,01) (0,04)
aktsia kohta (lisa 10)
--------------------------------------------------------------------------------
2015. aasta neljanda kvartali vahearuande planeeritav avalikustamise aeg on
nädal 9 (29. veebruar 2016)
Martin Kalle
CEO
+372 4478 331
[email protected]
Teate sisu inglise keeles
Pealkiri
Financial results, 9 months 2015
Teade
Pärnu, 2015-11-27 15:08 CET (GLOBE NEWSWIRE) --
THE THIRD QUARTER IN SHORT
Consolidated net sales of the third quarter of 2015 were 4.8 mil. euros,
representing a 3% decrease on the third quarter compared to the same period in
2014. At the same time, consolidated EBITDA amounted to 287 thousand euros
(EBITDA 165 thousand euros in Q3 2014). Net sales during 9 month in 2015
amounted to 14.5 mil. euros, representing 7% decrease (2014 9 months net sales:
15.7 mil. euros). First 9 months EBITDA in 2015 was 811 thousand euros
exceeding a bit last year level (2014 9 months EBITDA: 696 thousand euros).
Although consolidated net sales have decreased mainly due to weak demand in
Finland and Russia, the company has managed to improve EBITDA margin and
achieved a better result compared to last year. The main reasons behind it are
improvements of fibreboard production process allowing to reduce production
cost and keep profitability at much lower production volumes.
The sale in Skano Fibreboard OÜ Pärnu factory (incl. Isotex) was 2.0 mil.
euros, being at the same level as compared to the respective period last year,
the operating profit of the third quarter was 140 thousand euros compared with
the operating profit 48 thousand euros last year.
The turnover of Skano Fibreboard OÜ Püssi factory was 1.3 mil. euros,
representing 7% decrease in the third quarter compared to the same period in
2014. Operating profit amounted to 5 thousand euros compared with the operating
loss 24 thousand euros last year.
Sales mainly decreased in our core 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. In the third quarter we also conducted product
testing and tuning of production process in both factories in order to achieve
a lower production cost and break-even point.
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 Q3 2015 decreased 2% compared to last year,
which amounted to 1.3 mil. euros. Suomen Tuulileijona OY is the wholesaler of
Skano fibreboard products in Finland, which was acquired at the beginning of
July 2014.
The turnover of Skano Furniture Factory OÜ in Pärnu decreased in the third
quarter by 2% and amounted to 1.1 mil. euros. The operating loss of the third
quarter was 88 thousand euros as in 2014 the operating loss of the same period
was 65 thousand euros. Profitability was impacted by low sales volumes. In the
third quarter of 2015 sales to Russia decreased due to very weak demand by 13%
as compared to 2014. Sales to Finland increased slightly and also in the
Baltics. In addition to seeking new sales possibilities in the current markets
the company has made considerable effort to enter into new markets like UK,
France and USA.
The turnover of Skano Furniture OÜ retail chain increased 8% as compared to the
same period last year being 602 thousand euros, operating profit was 6 thousand
euros compared with the sales 543 thousand and operating loss 14 thousand euros
in the third quarter of 2014. 2015 third quarter operating profit 6 thousand
euros contains also a loss from a drop of currency exchange rate of hryvnia 22
thousand euros (realized loss from currency exchange rate 20 thousand euros in
the same period of 2014).
Retail sale increased in Estonia, Latvia and Ukraine but decreased slightly in
Lithuania. Retail sale is still very weak in Ukraine due to the conflict and
difficult economic situation. 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 third quarter in 2015 was 4.8 mil. euros (5.0
mil. euros in same period of 2014) representing a 3% decrease compared to Q3
2014. The Group’s gross margin in the third quarter of 2015 was 22% compared to
18% in the third quarter of 2014. Consolidated operating profit amounted to 79
thousand euros (operating loss 58 thousand euros from main activities in same
period 2014). The consolidated operating margin of net sales was 1.6% (-1.2%
from main activities in Q3 2014).
Consolidated net profit amounted to 5 thousand euros (compared to net loss 135
thousand euros in Q3 2014), and the net margin was 0.1% (-2.7% in Q3 2014).
POSITION OF FINANCIAL STATEMENT
As of 30.09.2015 the total assets of Skano Group AS amounted to 14.3 mil. euros
(30.09.2014: 15.5 mil. euros). The liabilities of the company accounted for 64%
(30.09.2014: 58%) thereof, i.e. 9.1 mil. euros (30.09.2014: 8.9 mil. euros).
Receivables and prepayments have decreased by 0.1 mil. euros i.e. 2% decrease
within 12 months due.
Inventories have slightly decreased with 12 months, amounting to 3.4 mil. euros
on 30.09.2015. (30.09.2014: 3.5 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, the rest was as a result of depreciation.
Short-term loans have increased by 0.2 mil. euros and amounted to 1.9 mil.
euros in 30.09.2015 which was a result of usage of bank overdraft and
restructuring of the loan between short- and long-term payment schedule
(30.09.2014: 1.7 mil. euros). Supplier payables, tax liabilities, other
payables, including payables to employees, and provisions amounted to 2.9 mil.
euros (30.09.2014: 2.9 mil. euros).
Long-term loans have decreased by 0.1 mil euros and amounted to 4.0 mil. euros
in 30.09.2015 (30.09.2014: 4.1 mil. euros). The decrease 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 9.1
mil. euros (30.09.2014: 8.9 mil. euros).
DIVISIONAL REVIEW
NET SALES BY BUSINESS SEGMENTS
th EUR % of net sales
--------------------------------------------------------------
Q3 2015 Q3 2014 Q3 2015 Q3 2014
--------------------------------------------------------------
Skano Fibreboard OÜ 3,307 3,369 68.9% 67.8%
--------------------------------------------------------------
Skano Furniture Factory OÜ 1,097 1,119 22.8% 22.5%
--------------------------------------------------------------
Skano Furniture OÜ retail 602 556 12.5% 11.2%
--------------------------------------------------------------
Suomen Tuulileijona OY 1,346 1,376 28.0% 27.7%
--------------------------------------------------------------
Elimination (1,549) (1,452) (32.3%) (29.2%)
--------------------------------------------------------------
TOTAL 4,803 4,968 100.0% 100.0%
--------------------------------------------------------------
NET SALES BY GEOGRAPHICAL SEGMENTS
th EUR % of net sales
--------------------------------------------------------
Q3 2015 Q3 2014 Q3 2015 Q3 2014
--------------------------------------------------------
Finland 1,794 1,867 37.4% 37.6%
--------------------------------------------------------
Estonia 894 806 18.6% 16.2%
--------------------------------------------------------
Russia 882 1,061 18.4% 21.4%
--------------------------------------------------------
Great Britain 349 286 7.3% 5.8%
--------------------------------------------------------
Latvia 196 168 4.1% 3.4%
--------------------------------------------------------
Lithuania 142 143 3.0% 2.9%
--------------------------------------------------------
Sweden 121 158 2.5% 3.2%
--------------------------------------------------------
Ukraine 115 92 2.4% 1.9%
--------------------------------------------------------
Denmark 47 15 1.0% 0.3%
--------------------------------------------------------
United Arab Emirates 45 45 0.9% 0.9%
--------------------------------------------------------
Germany 37 30 0.8% 0.6%
--------------------------------------------------------
France 28 27 0.6% 0.5%
--------------------------------------------------------
Other countries 153 270 3.2% 5.4%
--------------------------------------------------------
TOTAL 4,803 4,968 100.0% 100.0%
--------------------------------------------------------
Regarding the markets, turnover has increased in Estonia, Latvia and Great
Britain. The turnover has decreased most in Russia and Sweden.
PROFIT BY BUSINESS SEGMENTS
th EUR Q3 2015 Q3 2014
-----------------------------------------
Skano Furniture factory (88) (65)
-----------------------------------------
Skano Furniture retail 6 (14)
-----------------------------------------
Skano Fibreboard 145 24
-----------------------------------------
Suomen Tuulileijona OY 4 (12)
-----------------------------------------
Elimination 12 9
-----------------------------------------
TOTAL 79 (58)
-----------------------------------------
Net financial costs (74) (77)
-----------------------------------------
Income tax 0 0
-----------------------------------------
NET PROFIT 5 (135)
-----------------------------------------
SKANO FIBREBOARD
The net sales of Skano Fibreboard in the third quarter of 2015 amounted to 3.3
mil. euros and operating profit to 145 thousand euros. In the same period last
year, the turnover of Skano Fibreboard totaled to 3.4 mil. euros and the
operating profit from main activities 24 thousand euros.
The decrease in sales in the third quarter compare to last year took place in
Russia. Sales increased in Estonia and Great Britain.
NET SALES BY GEOGRAPHICAL SEGMENTS
th EUR % of net sales
-----------------------------------------------------------------------------
Q3 2015 Q3 2014 Q3 2015 Q3 2014
-----------------------------------------------------------------------------
Finland (incl. to Suomen Tuulileijona OY) 1,297 1,298 39.2% 38.5%
-----------------------------------------------------------------------------
Estonia 542 476 16.4% 14.1%
-----------------------------------------------------------------------------
Russia 502 623 15.2% 18.5%
-----------------------------------------------------------------------------
Great Britain 331 250 10.0% 7.4%
-----------------------------------------------------------------------------
Sweden 121 158 3.7% 4.7%
-----------------------------------------------------------------------------
Latvia 87 83 2.6% 2.5%
-----------------------------------------------------------------------------
Denmark 47 15 1.4% 0.4%
-----------------------------------------------------------------------------
United Arab Emirates 45 45 1.4% 1.3%
-----------------------------------------------------------------------------
Lithuania 43 45 1.3% 1.3%
-----------------------------------------------------------------------------
Ukraine 41 42 1.2% 1.2%
-----------------------------------------------------------------------------
Other countries 251 334 7.6% 9.9%
-----------------------------------------------------------------------------
TOTAL 3,307 3,369 100.0% 100.0%
-----------------------------------------------------------------------------
th EUR Net sales Operating Profit
--------------------------------------------------------------------------
Q3 2015 Q3 2014 Q3 2015 Q3 2014
--------------------------------------------------------------------------
Pärnu Fibreborad factory 1,425 1,421 138 36
--------------------------------------------------------------------------
Püssi Fibreboard factory 1,319 1,395 5 (24)
--------------------------------------------------------------------------
Pärnu interior boards factory (Isotex) 529 553 2 12
--------------------------------------------------------------------------
Not allocated 34 0 0 0
--------------------------------------------------------------------------
TOTAL 3,307 3,369 145 24
--------------------------------------------------------------------------
The net sales of the Pärnu fibreboard factory and interior board’s line
remained at the same level in the third quarter of 2015 compared to the same
quarter of 2014 and amounted to 2.0 mil. euros.
The turnover of Püssi fibreboard factory amounted to 1.3 mil. euros declining
7% compared to the same quarter in 2014 (turnover 1.4 mil. euros in Q3 2014).
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 11 stores in Tallinn (3), Tartu, Pärnu, Riga, Vilnius, Kiev (2),
Kharkiv and Dnipropetrovs’k at the end of the third quarter in 2015.
RETAIL SALES BY COUNTRIES
th EUR % of net sales Number of stores
-----------------------------------------------------------------
Q3 2015 Q3 2014 Q3 2015 Q3 2014 30.09.15 30.09.14
-----------------------------------------------------------------
Estonia 344 323 57.1% 58.1% 4 5
-----------------------------------------------------------------
Latvia 109 85 18.1% 15.3% 1 1
-----------------------------------------------------------------
Lithuania 75 98 12.5% 17.6% 1 1
-----------------------------------------------------------------
Ukraine 74 50 12.3% 9.0% 4 4
-----------------------------------------------------------------
TOTAL 602 556 100.0% 100.0% 10 11
-----------------------------------------------------------------
Retail sale amounted to 602 thousand euros in the third quarter of 2015 and
operating profit 6 thousand euros (sales 556 thousand euros and operating loss
14 thousand euros in Q3 2014). Current year third quarter operating profit 6
thousand euros contains also loss of currency exchange rate of hryvnia 22
thousand euros (realized loss from currency exchange rate 20 thousand euros in
the same period of 2014).
FURNITURE PRODUCTION
The net sales of the Skano Furniture Factory in the third quarter amounted to
1.1 mil. euros and operating loss to 88 thousand euros. In the same period last
year, the turnover of the factory amounted also to 1.1 mil. euros and the
operating loss to 65 thousand euros. As compared to the previous year the
turnover of the factory has decreased 2%. In the third quarter the sales
decreased in Russia by 13% due to colder economic environment and weaker
purchasing power for imported durable goods. Sales in Finland decreased
slightly and in the Baltics remained almost at the same level.
FURNITURE FACTORY SALES BY COUNTRIES
th EUR % of net sales
---------------------------------------------------
Q3 2015 Q3 2014 Q3 2015 Q3 2014
---------------------------------------------------
Finland 404 362 36.8% 32.4%
---------------------------------------------------
Russia 380 438 34.6% 39.1%
---------------------------------------------------
Other countries 51 35 4.6% 3.1%
---------------------------------------------------
Subsidiaries 262 284 24.0% 25.4%
---------------------------------------------------
TOTAL 1,097 1,119 100.0% 100.0%
---------------------------------------------------
FORECAST AND DEVELOPMENT
SKANO FIBREBOARD. We expect sales of Skano Fibreboard in Q4 2015 to be similar
compared to sales of the same period last year. Sales in our core markets are
lower due to weak demand which we expect to compensate with sales in new
markets. 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. 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 Q4 2015 to be
lower compared to sales of the same period last year. We expect steady sales in
the Baltics but decrease in Ukraine due to political and economic instability.
SKANO FURNITURE FACTORY. In Q4 2015 we expect smaller sales of the furniture
factory compared to the same period in 2014 because of the deteriorated
economic situation in the near regions, especially in Russia. In Russia sales
are down due to weak currency, broad-based economic downturn and low consumer
confidence.
Sales to new markets in Q4 2015 are not covering the lag from our main markets
but 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 9 m 2015 9 m 2014 9 m 2013
---------------------------------------------------
Income statement
---------------------------------------------------
Revenue 14,564 15,699 14,329
---------------------------------------------------
EBITDA 811 696 440
---------------------------------------------------
EBITDA margin 5.6% 4.4% 3.1%
---------------------------------------------------
Operating profit 183 29 (242)
---------------------------------------------------
Operating margin 1.3% 0.2% (1.7%)
---------------------------------------------------
Net profit (43) (179) (415)
---------------------------------------------------
Net margin (0.3%) (1.1%) (2.9%)
---------------------------------------------------
----------------------------------------------------
Balance sheet (30.09)
---------------------------------------------------
Total assets 14,291 15,503 14,916
---------------------------------------------------
Return on assets (0.3%) (1.2%) (2.8%)
---------------------------------------------------
Equity 5,180 6,586 7,090
---------------------------------------------------
Return on equity (0.8%) (2.7%) (5.9%)
---------------------------------------------------
Debt-to-equity ratio 63.8% 57.5% 52.5%
---------------------------------------------------
----------------------------------------------------
Share (30.09)
---------------------------------------------------
Closing price 0.70 0.93 1.30
---------------------------------------------------
Earnings per share (0.01) (0.04) (0.09)
---------------------------------------------------
Price-earnings ratio (70.00) (23.25) (14.44)
---------------------------------------------------
Book value of a share 1.15 1.46 1.58
---------------------------------------------------
Market to book ratio 0.61 0.64 0.82
---------------------------------------------------
Market capitalization 3,149 4,184 5,849
---------------------------------------------------
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 30.09.2015 31.12.2014 30.09.2014
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Cash and bank 624 432 509
----------------------------------------------------------------------------
Receivables and prepayments (Note 1) 1,735 1,232 1,761
----------------------------------------------------------------------------
Inventories (Note 2) 3,439 2,962 3,487
----------------------------------------------------------------------------
Total current assets 5,798 4,626 5,757
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Investment property (Note 3) 406 407 407
----------------------------------------------------------------------------
Tangible fixed assets (Note 4) 8,064 8,267 9,309
----------------------------------------------------------------------------
Intangible fixed assets (Note 5) 23 29 30
----------------------------------------------------------------------------
Total fixed assets 8,493 8,703 9,746
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TOTAL ASSETS 14,291 13,329 15,503
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Debt obligations (Note 6) 1,908 2,030 1,651
----------------------------------------------------------------------------
Payables and prepayments (Note 7) 2,942 2,198 2,897
----------------------------------------------------------------------------
Short-term provisions (Note 8) 4 15 3
----------------------------------------------------------------------------
Total current liabilities 4,854 4,243 4,551
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Non-current debt obligations (Note 6) 4,013 3,563 4,127
----------------------------------------------------------------------------
Non-current provisions (Note 8) 244 223 239
----------------------------------------------------------------------------
Total non-current liabilities 4,257 3,786 4,366
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Total liabilities 9,111 8,029 8,917
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Share capital at nominal value (Note 9) 2,699 2,699 2,699
----------------------------------------------------------------------------
Issue premium 364 364 364
----------------------------------------------------------------------------
Statutory capital reserve 288 288 288
----------------------------------------------------------------------------
Other reserves 4 0 0
----------------------------------------------------------------------------
Currency translation (90) (16) (32)
----------------------------------------------------------------------------
Retained profits 1,961 3,446 3,446
----------------------------------------------------------------------------
Net profit (loss) for the year (Note 10) (46) (1,481) (179)
----------------------------------------------------------------------------
Total equity 5,180 5,300 6,586
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 14,291 13,329 15,503
----------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME
th EUR 3rd Q 3rd Q 2014 9 m 2015 9 m 2014
2015
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
RETURN ON SALES (Note 11) 4,803 4,968 14,564 15,669
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Cost of production sold (3,753) (4,053) (11,327) (12,772)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Gross profit 1,050 915 3,237 2,897
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Marketing expenses (768) (785) (2,395) (2,237)
--------------------------------------------------------------------------------
General administrative expenses (168) (141) (521) (472)
--------------------------------------------------------------------------------
Other income 63 21 329 44
--------------------------------------------------------------------------------
Other expenses (98) (68) (467) (203)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Operating profit (loss) (Note 11) 79 (58) 183 29
--------------------------------------------------------------------------------
Financial income and financial (74) (77) (226) (208)
expenses
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Profit (loss) before taxes 5 (135) (43) (179)
--------------------------------------------------------------------------------
Prepaid income tax 0 0 (3) 0
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
NET PROFIT (LOSS) FOR THE PERIOD 5 (135) (46) (179)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Basic earnings per share (Note 10) (0.00) 0.03 (0.01) (0.04)
--------------------------------------------------------------------------------
Diluted earnings per share (Note 10) (0.00) 0.03 (0.01) (0.04)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Other comprehensive income:
--------------------------------------------------------------------------------
Currency translation differences 39 (16) (74) (40)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL COMPREHENSIVE INCOME 44 (151) (120) (219)
--------------------------------------------------------------------------------
The planned time of publishing of interim report of the fourth quarter of 2015
is week 9 (29th of February 2016)
Martin Kalle
CEO
+372 4478 331
[email protected]