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
5372
Manused
Esitamise kuupäev ja aeg
29.02.2016 16:27:41
Teate sisu eesti keeles
Pealkiri
Majandustulemused 12 kuud 2015
Teade
Pärnu, 2016-02-29 15:27 CET (GLOBE NEWSWIRE) --
KOKKUVÕTE
Skano Group ASi 2015 aasta neljanda kvartali konsolideeritud müügitulu kahanes
2014 aasta neljanda kvartaliga võrreldes 9% ja oli 4,2 mln eurot. Kontserni
EBITDA oli neljandas kvartalis negatiivne -72 tuhat eurot, 2014 aasta neljandas
kvartalis oli müük vastavalt 4,7 mln eurot ja EBITDA negatiivne -1 008 tuhat
eurot, 2014 aasta neljanda kvartali tulemus sisaldas ka ühekordset
mitterahalist kulu Püssi kiudplaaditehase varade allahindluse näol 925 tuhat
eurot, ilma allahindluseta oleks kontserni EBITDA olnud -83 tuhat eurot. 2015
aasta 12 kuu kogukäive ulatus 18,8 mln euroni, vähenedes aastaga 8% (2014 12
kuu käive: 20,3 mln eurot). Käesoleva aasta 12 kuu EBITDA oli 739 tuhat eurot,
ületades eelmise aasta tulemust (2014 12 kuu EBITDA: -312 tuhat eurot, mis
sisaldas ühekordset mitterahalist kulu Püssi kiudplaaditehase varade
allahindluse näol 925 tuhat eurot, ilma allahindluseta oleks kontserni 2014
aasta EBITDA olnud 613 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 neljandas kvartalis 1,4
mln eurot kahanedes eelmise aasta sama perioodiga võrreldes 11%. 2015 aasta
neljanda kvartali ärikahjum oli 74 tuhat eurot võrreldes 145 tuhade eurose
ärikahjumiga eelmise aasta samal perioodil.
Skano Fibreboard OÜ Püssi kiudplaaditehase käive oli 1,3 mln eurot kasvades 3%
võrreldes eelmise aasta sama perioodiga. 2015 aasta neljanda kvartali ärikahjum
oli 28 tuhat eurot võrrelduna 1 051 tuhande eurose ärikahjumiga eelmise aasta
samal perioodil. Ilma Püssi varade ühekordse allahindluseta summas 925 tuhat
eurot oleks Püssi tehase 2014 aasta neljanda kvartali ärikahjum olnud 126 tuhat
eurot.
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. Neljandas 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 oli 0,7 mln eurot vähenedes 2015 aasta neljandas
kvartalis 21% võrrelduna eelmise aasta sama perioodiga, mis oli 0,8 mln eurot.
Suomen Tuulileijona OY on Skano kiudplaadi edasimüüja Soomes.
Skano Furniture Factory OÜ Pärnu mööblivabriku 2015 aasta neljanda kvartali
käive kahanes eelmise aasta sama perioodiga võrreldes 20 % ja oli 1,2 mln
eurot. Neljanda kvartali ärikahjum oli 399 tuhat eurot võrrelduna 61 tuhande
eurose ärikahjumiga 2014 aasta neljandas kvartalis. 2015 aasta neljanda
kvartali ärikahjum 399 tuhat eurot sisaldas ka nõuete allahindlust
tütarühingute vastu summas 265 tuhat eurot, mis on mitterahaline ja elimineerub
kontserni tulemusest välja kuna tehingu vastapooled on tütarühingud. Ilma
tütarühingute allahindlusteta oli 2015 aasta neljanda kvartali ärikahjum 134
tuhat eurot. Lisaks tütarühingite nõuete allahindlusele mõjus kasumlikkusele
negatiivselt väike müügimaht. Müük Venemaale vähenes 39% võrrelduna 2014 sama
perioodiga tulenevalt nõrgast nõudlusest. Müük Soome kahanes 3% ning müük
Baltikumis jäi samale tasemele. 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 kahanes eelmise aasta sama perioodiga
võrreldes 2% ja oli 648 tuhat eurot ning ärikahjum oli 196 tuhat eurot
võrrelduna 304 tuhande eurose ärikahjumiga 2014 aasta neljandas kvartalis. 2015
aasta neljanda kvartali ärikahjum 196 tuhat eurot sisaldas ka kursikahjumit
grivna kursimuutusest 77 tuhat eurot ning nõuete allahindlust Ukraina
tütarühingu vastu summas 125 tuhat. Skano Furniture OÜ kursikahjum ja nõete
allahindlus summas 181 tuhat eurot on mitterahaline ja elimineerub kontserni
tulemusest välja kuna tehingu vastapool on teine kontserniühing. Samuti
sisaldas 2014 aasta neljanda kvartali ärikahjum 304 tuhat eurot kursikahjumit
grivna kursimuutusest 137 tuhat eurot ning nõuete allahindlust Ukraina
tütarühingu vastu summas 216 tuhat. Skano Furniture OÜ 2014 aasta neljanda
kvartali kursikahjum ja nõete allahindlus summas 331 tuhat eurot oli
mitterahaline ja elimineerus kontserni tulemusest välja kuna tehingu vastapool
on teine kontserniühing.
Mööbli jaemüük kasvas Eestis ja Leedus, kuid kahanes Lätis ja Ukrainas. 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 kasumlikumalt, kui see ilma oma jaemüügiketita võimalik oleks.
KASUMIARUANNE
Aruandeaasta neljanda kvartali müügitulu oli 4,2 mln eurot (2014 aastal 4,7 mln
eurot), mis tähendab 2014 aasta neljanda kvartaliga võrreldes 9%-list
kahanemist. Kontserni müügikäibe brutorentaablus oli 2015 aasta neljandas
kvartalis 16% (võrrelduna 2014 aasta neljanda kvartali 15%-ga). Konsolideeritud
ärikahjum oli neljandas kvartalis 281 tuhat eurot (2014 aasta samal perioodil
põhitegevuse ärikahjum oli 1 228 tuhat eurot sisaldades ühekordset kulu summas
925 tuhat eurot Püssi varade allahindlusest. Allahindlust arvestamata oleks
ärikahjum olnud 303 tuhat eurot). Konsolideeritud müügikäibe ärirentaablus oli
-6,7% (võrrelduna 2014 aasta neljanda kvartali põhitegevuse ärirentaablusega
-26,3%).
Konsolideeritud puhaskahjum oli 361 tuhat eurot (2014 aasta neljandas kvartalis
oli põhitegevuse puhaskahjum 1 302 tuhat eurot) ja puhasrentaablus oli -8,5%
(võrrelduna 2014 aasta neljanda kvartali puhasrentaablusega -27,9%).
FINANTSSEISUNDI ARUANNE
Kontserni koguvarade maht oli 31.12.2015 seisuga 13,3 mln eurot (31.12.2014:
13,3 mln eurot), millest ettevõtte kohustused moodustasid 31.12.2015 seisuga
8,3 mln eurot (31.12.2014: 8,0 mln eurot) ehk 63% (31.12.2014: 60%).
Nõuded ja ettemaksud on kahanenud 0,2 mln eurot, vähenedes 12 kuuga 19% ning
moodustades 1,0 mln eurot. Varud suurenesid 12 kuuga 0,5 mln eurot, moodustades
31.12.2015 seisuga 3,4 mln eurot. Seisuga 31.12.2014 oli varude maht 3,0 mln
eurot. Materiaalne ja immateriaalne põhivara vähenes 0,2 mln euro võrra,
moodustades 31.12.2015 seisuga 8,1 mln eurot, vähenemine tulenes põhivara
amortisatsioonist.
Lühiajalised laenukohustused olid seisuga 31.12.2015 1,3 mln eurot (31.12.2014
2,0 mln eurot) vähenedes 12 kuuga kokku 0,7 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 2,7 mln eurot suurendes 12 kuuga 0,5
mln euro võrra (seisuga 31.12.2014 2,2 mln eurot).
Pikajalised laenukohustused suurenesid 0,6 mln eurot moodustades 31.12.2015
seisuga 4,2 mln eurot (seisuga 31.12.2014 vastavalt 3,6 mln eurot). Suurenemine
oli põhjustatud laenu restruktureerimisest pika- ja lühiajalise maksete osas.
Lühi- ja pikaajalised kohustused kokku suurenesid 0,3 mln eurot 8,3 mln euroni
(31.12.2014 8,0 mln eurot).
ÄRIVALDKONDADE ÜLEVAADE
MÜÜK SEGMENTIDE LÕIKES
tuh EUR % käibest
------------------------------------------------------------------------------
IV kv. 2015 IV kv. 2014 IV kv. 2015 IV kv. 2014
------------------------------------------------------------------------------
Skano Fibreboard OÜ 2 630 2 763 62,2% 59,3%
------------------------------------------------------------------------------
Skano Furniture Factory OÜ 1 179 1 467 27,9% 31,5%
------------------------------------------------------------------------------
Skano Furniture OÜ jaemüük 648 662 15,3% 14,2%
------------------------------------------------------------------------------
Suomen Tuulielijona OÜ 666 839 15,8% 18,0%
------------------------------------------------------------------------------
Elimineerimine (898) (1 070) (21,3%) (23,0%)
------------------------------------------------------------------------------
KOKKU 4 225 4 661 100,0% 100,0%
------------------------------------------------------------------------------
MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
-----------------------------------------------------------------
IV kv. 2015 IV kv. 2014 IV kv. 2015 IV kv. 2014
-----------------------------------------------------------------
Soome 1 150 1 351 27,2% 29,0%
-----------------------------------------------------------------
Venemaa 918 1 151 21,7% 24,7%
-----------------------------------------------------------------
Eesti 788 660 18,7% 14,2%
-----------------------------------------------------------------
Suurbritannia 342 403 8,1% 8,6%
-----------------------------------------------------------------
Läti 199 233 4,7% 5,0%
-----------------------------------------------------------------
Portugal 175 0 4,1% 0,0%
-----------------------------------------------------------------
Rootsi 120 103 2,8% 2,2%
-----------------------------------------------------------------
Leedu 114 100 2,7% 2,1%
-----------------------------------------------------------------
Ukraina 107 162 2,5% 3,5%
-----------------------------------------------------------------
LAV 53 184 1,3% 3,9%
-----------------------------------------------------------------
Kasahstan 41 56 1,0% 1,2%
-----------------------------------------------------------------
Saksamaa 40 38 0,9% 0,8%
-----------------------------------------------------------------
Teised riigid 178 220 4,2% 4,7%
-----------------------------------------------------------------
KOKKU 4 225 4 661 100,0% 100,0%
-----------------------------------------------------------------
Turgude lõikes on käive kasvanud Eestis ja uuel turul Portugalis. Enim on müük
vähenenud Venemaal ja Soomes.
KASUM SEGMENTIDE LÕIKES
tuh EUR IV kv. 2015 IV kv. 2014
----------------------------------------------------
Skano Furniture Factory OÜ (399) (61)
----------------------------------------------------
Skano Furniture OÜ jaemüük (196) (304)
----------------------------------------------------
Skano Fibreboard OÜ (102) (1 199)
----------------------------------------------------
Suomen Tuulileijona OY (32) (18)
----------------------------------------------------
Elimineerimine 448 354
----------------------------------------------------
KOKKU (281) (1 228)
----------------------------------------------------
Neto finantskulud (75) (73)
----------------------------------------------------
Tulumaksukulu (5) (1)
----------------------------------------------------
PUHASKASUM (361) (1 302)
----------------------------------------------------
SKANO FIBREBOARD
Skano Fibreboard müügitulu oli 2015 aasta neljandas kvartalis 2,6 mln eurot ja
ärikahjum 102 tuhat eurot. Eelmise aasta samal perioodil oli üksuse käive 2,8
mln eurot ja ärikahjum 1 199 tuhat eurot, mis sisaldas ühekordset kulu summas
925 tuhat eurot Püssi varade allahindlusest.
Eelmise aasta sama perioodiga võrreldes kahanes müük emin Soomes. Müük kasvas
enim Eestis ja Portugalis.
MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
--------------------------------------------------------------------------------
IV kv. IV kv. IV kv. IV kv.
2015 2014 2015 2014
--------------------------------------------------------------------------------
Soome (sh müük Suomen 658 857 25,0% 31,0%
Tuulileijona OY-le)
--------------------------------------------------------------------------------
Venemaa 548 541 20,8% 19,6%
--------------------------------------------------------------------------------
Eesti 390 322 14,8% 11,7%
--------------------------------------------------------------------------------
Suurbritannia 336 393 12,8% 14,2%
--------------------------------------------------------------------------------
Portugal 175 0 6,7% 0,0%
--------------------------------------------------------------------------------
Rootsi 114 89 4,3% 3,2%
--------------------------------------------------------------------------------
Läti 86 100 3,3% 3,6%
--------------------------------------------------------------------------------
LAV 53 184 2,0% 6,7%
--------------------------------------------------------------------------------
Ukraina 48 42 1,8% 1,5%
--------------------------------------------------------------------------------
Saksamaa 40 38 1,5% 1,4%
--------------------------------------------------------------------------------
Teised riigid 182 197 6,9% 7,1%
--------------------------------------------------------------------------------
KOKKU 2 630 2 763 100,0% 100,0%
--------------------------------------------------------------------------------
tuh EUR Müük Ärikasum
--------------------------------------------------------------------------------
IV kv. 2015 IV kv. 2014 IV kv. IV kv. 2014
2015
--------------------------------------------------------------------------------
Pärnu kiudplaadivabrik 825 1 024 (58) (139)
--------------------------------------------------------------------------------
Püssi kiudplaadivabrik 1 252 1 220 (28) (1 051)
--------------------------------------------------------------------------------
Pärnu vääristamisüksus 533 497 (16) (5)
(Isotex)
--------------------------------------------------------------------------------
Allokeerimata 20 22 0 (4)
--------------------------------------------------------------------------------
KOKKU 2 630 2 763 (102) (1 199)
--------------------------------------------------------------------------------
Pärnu kiudplaadivabriku ja siseviimistlusplaatide liini käive kahanes 11%
võrreldes eelmise aasta neljanda kvartaliga ja oli 1,4 miljonit eurot.
Püssis asuva kiudplaaditehase käive oli 1,3 mln eurot kasvades eelmise aasta
neljanda kvartaliga võrreldes 3% (2014 neljandas kvartalis oli müük 1,2 mln
eurot).
SKANO FURNITURE
MÖÖBLI JAEMÜÜK
Skano Group ASi mööbli jaeäri opereerivad tütarfirma Skano Furniture OÜ ja
selle tütarfirmad Lätis, Leedus ja Ukrainas. Seisuga 31.12.2015 on
mööblikaupluste ketis kokku 10 kauplust: kolm Tallinnas, üks Tartus ja üks
Pärnus, Riias, Vilniuses, kaks Kiievis ja üks Harkovis. Dnepropetrovskis asuv
kauplus anti aasta lõpus frantsiisilepingu alusel üle kohalikule diilerile.
JAEMÜÜK RIIKIDE LÕIKES
tuh EUR % käibest Kaupluste arv
-------------------------------------------------------------------------------
IV kv. 2015 IV kv. 2014 IV kv. 2015 IV kv. 2014 31.12.15 31.12.14
-------------------------------------------------------------------------------
Eesti 391 335 60,4% 50,6% 5 4
-------------------------------------------------------------------------------
Läti 113 133 17,4% 20,1% 1 1
-------------------------------------------------------------------------------
Leedu 85 74 13,1% 11,2% 1 1
-------------------------------------------------------------------------------
Ukraina 59 120 9,1% 18,1% 3 4
-------------------------------------------------------------------------------
Kokku 648 662 100,0% 100,0% 10 10
-------------------------------------------------------------------------------
Mööbli jaemüük 2015 aasta neljandas kvartalis moodustas 648 tuhat eurot,
kahanedes eelmise aasta sama perioodiga 2%. Ärikahjum oli neljandas kvartalis
196 tuhat eurot (2014 neljanda kvartali müük oli 662 tuhat eurot ning ärikahjum
304 tuhat eurot). 2015 aasta neljanda kvartali ärikahjum 196 tuhat eurot
sisaldas kursikahjumit grivna kursimuutusest 77 tuhat eurot (2014 137 tuhat
eurot) ning nõuete allahindlust Ukraina tütarühingu vastu summas 125 tuhat
eurot (2014 216 tuhat eurot). Skano Furniture OÜ 2014 neljanda kvartali
kursikahjum ja nõete allahindlus summas 181 tuhat eurot (2014 331 tuhat eurot)
on mitterahaline ja elimineerub kontserni tulemusest välja kuna tehingu
vastapool on teine kontserniühing.
MÖÖBLI TOOTMINE
Skano Furniture Factory OÜ Pärnu mööblivabrikus oli 2015 aasta neljanda
kvartali müügitulu 1,2 mln eurot ja ärikahjum 399 tuhat eurot. Eelmise aasta
samal perioodil oli mööblivabriku käive 1,5 mln eurot ja ärikahjum 61 tuhat
eurot. 2015 aasta neljanda kvartali ärikahjum 399 tuhat eurot sisaldas ka
nõuete allahindlust tütarühingute vastu summas 265 tuhat eurot, mis on
mitterahaline ja elimineerub kontserni tulemusest välja kuna tehingu
vastapooled on tütarühingud. Ilma tütarühingute nõuete allahindlusteta oli 2015
aasta neljanda kvartali ärikahjum 134 tuhat eurot. Võrreldes eelmise aastaga
kahanes vabriku käive 20%. Tulenevalt Venemaa üldisest majanduslikust
olukorrast ning sealse importkauba ostujõu vähenemisest langes müük Venemaale
neljandas kvartalis 39%. Müük Soome kahanes vähasel määral ning müük Baltikumis
jäi samale tasemele.
MÖÖBLIVABRIKU MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
-------------------------------------------------------------------
IV kv. 2015 IV kv. 2014 IV kv. 2015 IV kv. 2014
-------------------------------------------------------------------
Soome 447 462 37,9% 31,5%
-------------------------------------------------------------------
Venemaa 370 610 31,4% 41,6%
-------------------------------------------------------------------
Teised riigid 80 116 6,8% 7,9%
-------------------------------------------------------------------
Tütarettevõtted 282 279 23,9% 19,0%
-------------------------------------------------------------------
Kokku 1 179 1 467 100,0% 100,0%
-------------------------------------------------------------------
PROGNOOS JA ARENG
SKANO FIBREBOARD. Prognoosime, et Skano Fibrebordi käive 2016 aasta esimeses
kvartalis jääb samale tasemele võrreldes eelmise aasta sama perioodi käibega.
Väiksemat müügimahtu põhiturgudelt põhjustatuna nõrgast nõudlusest 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 2016
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 2016 aasta esimeses kvartali jaemüük
kahaneb võrreldes eelmise aasta sama perioodi müügiga. Kuigi ootame müügi
stabiilsust Baltikumis, siis tagasilööki müügile prognoosime Ukrainast
tulenevalt sealsest poliitilisest ja majanduslikust ebastabiilusest.
SKANO MÖÖBLIVABRIK. 2016 aasta esimeses 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 2016 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. 2016 aasta jaanuaris osalesime kolme uue
tootesarjaga Kölni mööblimessil, millest ootame tuge 2016 teise poolaasta
müügile.
FINANTSSUHTARVUD
tuh EUR 12 kuud 2015 12 kuud 2014 12 kuud 2013
--------------------------------------------------------------------------------
Kasumiaruanne
--------------------------------------------------------------------------------
Müügitulu 18 789 20 330 19 186
--------------------------------------------------------------------------------
EBITDA 739 (312) 438
--------------------------------------------------------------------------------
EBITDA rentaablus 3,9% (1,5%) 2,3%
--------------------------------------------------------------------------------
Ärikasum (101) (1 199) (467)
--------------------------------------------------------------------------------
Ärirentaablus (0,5%) (5,9%) (2,4%)
--------------------------------------------------------------------------------
Puhaskasum (411) (1 481) (706)
--------------------------------------------------------------------------------
Puhasrentaablus (2,2%) (7,3%) (3,7%)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-
Bilanss (31.12)
--------------------------------------------------------------------------------
Koguvarad 13 262 13 329 14 722
--------------------------------------------------------------------------------
Koguvarade puhasrentaablus (3,1%) (11,1%) (4,8%)
--------------------------------------------------------------------------------
Omakapital 4 919 5 300 6 805
--------------------------------------------------------------------------------
Omakapitali puhasrentaablus (8,4%) (27,9%) (10,4%)
--------------------------------------------------------------------------------
Võlakordaja 62,9% 60,2% 53,8%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-
Aktsia (31.12)
--------------------------------------------------------------------------------
Aktsia sulgemishind (EUR) 0,73 0,85 1,22
--------------------------------------------------------------------------------
Puhaskasum aktsia kohta (EUR) (0,09) (0,33) (0,16)
--------------------------------------------------------------------------------
Hind-tulu (PE) suhtarv (8,11) (2,58) (7,63)
--------------------------------------------------------------------------------
Aktsia raamatupidamisväärtus (EUR) 1,09 1,18 1,51
--------------------------------------------------------------------------------
Turuhinna ja raamatupidamisväärtuse 0,67 0,72 0,81
suhe
--------------------------------------------------------------------------------
Turukapitalisatsioon 3 284 3 824 5 489
--------------------------------------------------------------------------------
EBITDA = ärikasum + kulum
EBITDA rentaablus = EBITDA / müügitulu
Ärirentaablus = ärikasum / müügitulu
Puhasrentaablus = puhaskasum / müügitulu
Koguvarade puhasrentaablus = puhaskasum / koguvarad
Omakapitali puhasrentaablus = puhaskasum / omakapital
Võlakordaja = kohustused / koguvarad
Puhaskasum aktsia kohta = puhaskasum / aktsiate arv
Hind-tulu (PE) suhtarv = aktsia sulgemishind / puhaskasum aktsia kohta
Aktsia raamatupidamisväärtus = omakapital / aktsiate arv
Turuhinna ja raamatupidamisväärtuse suhe = aktsia sulgemishind / aktsia
raamatupidamisväärtus
Turukapitalisatsioon = aktsia sulgemishind * aktsiate arv
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
tuh EUR 31.12.2015 31.12.2014
----------------------------------------------------------------
Raha ja raha ekvivalendid 292 432
----------------------------------------------------------------
Nõuded ja ettemaksed (lisa 1) 997 1 232
----------------------------------------------------------------
Varud (lisa 2) 3 426 2 962
----------------------------------------------------------------
Käibevara kokku 4 715 4 626
----------------------------------------------------------------
----------------------------------------------------------------
Kinnisvarainvesteeringud (lisa 3) 406 407
----------------------------------------------------------------
Materiaalne põhivara (lisa 4) 8 120 8 267
----------------------------------------------------------------
Immateriaalne põhivara (lisa 5) 21 29
----------------------------------------------------------------
Põhivara kokku 8 547 8 703
----------------------------------------------------------------
----------------------------------------------------------------
AKTIVA (vara) KOKKU 13 262 13 329
----------------------------------------------------------------
----------------------------------------------------------------
----------------------------------------------------------------
Võlakohustused (lisa 6) 1 253 2 030
----------------------------------------------------------------
Võlad ja ettemaksed (lisa 7) 2 684 2 198
----------------------------------------------------------------
Lühiajalised eraldised (lisa 8) 15 15
----------------------------------------------------------------
Lühiajalised kohustused kokku 3 952 4 243
----------------------------------------------------------------
----------------------------------------------------------------
Pikaajalised võlakohustused (lisa 6) 4 163 3 563
----------------------------------------------------------------
Pikaajalised eraldised (lisa 8) 228 223
----------------------------------------------------------------
Pikaajalised kohustused kokku 4 391 3 786
----------------------------------------------------------------
----------------------------------------------------------------
Kohustused kokku 8 343 8 029
----------------------------------------------------------------
----------------------------------------------------------------
Aktsiakapital (nimiväärtuses) (lisa 9) 2 699 2 699
----------------------------------------------------------------
Ülekurss 364 364
----------------------------------------------------------------
Kohustuslik reservkapital 288 288
----------------------------------------------------------------
Muud reservid 7 0
----------------------------------------------------------------
Ümberhindluse kursivahed 7 (16)
----------------------------------------------------------------
Eelmiste perioodide jaotamata kasum 1 965 3 446
----------------------------------------------------------------
Aruandeaasta kasum (kahjum) (lisa 10) (411) (1 481)
----------------------------------------------------------------
Omakapital kokku 4 919 5 300
----------------------------------------------------------------
----------------------------------------------------------------
PASSIVA (kohustused ja omakapital) KOKKU 13 262 13 329
----------------------------------------------------------------
KONSOLIDEERITUD KASUMI- JA KOONDKASUMIARUANNE
tuh EUR IV kv IV kv 2015 2014
2015 2014
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Müügitulu (lisa 11) 4 225 4 661 18 789 20 330
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Müüdud toodangu kulu (3 543) (3 955) (14 (16
870) 727)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Brutokasum 682 706 3 919 3 603
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Turustuskulud (807) (841) (3 203) (3 077)
--------------------------------------------------------------------------------
Üldhalduskulud (183) (150) (705) (622)
--------------------------------------------------------------------------------
Muud äritulud 61 59 390 103
--------------------------------------------------------------------------------
Muud ärikulud (34) (1 002) (502) (1 206)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Ärikasum (kahjum) (lisa 11) (281) (1 228) (101) (1 199)
--------------------------------------------------------------------------------
Neto finantskulu (75) (73) (301) (281)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Kasum(kahjum) enne tulumaksu (356) (1 301) (402) (1 480)
--------------------------------------------------------------------------------
Tulumaksukulu (5) (1) (9) (1)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
PERIOODI PUHASKASUM (KAHJUM) (361) (1 302) (411) (1 481)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum:
--------------------------------------------------------------------------------
Valuutakursside muutuste mõju 97 16 23 (24)
konsolideerimisel
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
PERIOODI KOONDKASUM(KAHJUM) (264) (1 286) (388) (1 505)
--------------------------------------------------------------------------------
Tava perioodi puhaskasum(kahjum) aktsia (0,08) (0,29) (0,09) (0,33)
kohta (lisa 10)
--------------------------------------------------------------------------------
Lahustatud perioodi puhaskasum(kahjum) (0,07) (0,29) (0,08) (0,33)
aktsia kohta (lisa 10)
--------------------------------------------------------------------------------
2016. aasta esimese kvartali vahearuande planeeritav avalikustamise aeg on
nädal 21 (23-27. mai 2016)
Martin Kalle
CEO
+372 4478 331
[email protected]
Teate sisu inglise keeles
Pealkiri
Financial results 12 months 2015
Teade
Pärnu, 2016-02-29 15:27 CET (GLOBE NEWSWIRE) --
THE FOURTH QUARTER IN SHORT
Consolidated net sales of the fourth quarter of 2015 were 4.2 mil. euros,
representing a 9% decrease on the fourth quarter compared to the same period in
2014. At the same time, consolidated EBITDA amounted to -72 thousand euros
(EBITDA -1 099 thousand euros in Q4 2014, which included also one-off
non-monetary write-down of Püssi fibreboard factory assets amount to 925
thousand euros, without the write-down EBITDA would have been -83 thousand
euros). Net sales during 12 month in 2015 amounted to 18.8 mil. euros,
representing 8% decrease (2014 12 months net sales: 20.3 mil. euros). 12 months
EBITDA in 2015 was 739 thousand euros exceeding last year level (2014 12 months
EBITDA: -312 thousand euros, which included also one-off non-monetary
write-down of Püssi fibreboard factory assets amount to 925 thousand euros,
without the write-down EBITDA would have been 613 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 1.4 mil.
euros, decreasing 11% as compared to the respective period last year, the
operating loss of the fourth quarter was 74 thousand euros compared with the
operating loss 145 thousand euros last year.
The turnover of Skano Fibreboard OÜ Püssi factory was 1.3 mil. euros,
representing 3% increase in the fourth quarter compared to the same period in
2014. Operating loss amounted to 28 thousand euros compared with the operating
loss 1 051 thousand euros last year, without the write-down of Püssi fibreboard
factory assets by 925 thousand euros operating loss would have been 126
thousand euros.
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 fourth 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 Q4 2015 decreased 21% compared to last year,
which amounted to 0.7 mil. euros (0,8 mil euros in Q4 2014). Suomen
Tuulileijona OY is the wholesaler of Skano fibreboard products in Finland.
The turnover of Skano Furniture Factory OÜ in Pärnu decreased in the fourth
quarter by 20% and amounted to 1.2 mil. euros. The operating loss of the fourth
quarter was 399 thousand euros as in 2014 the operating loss of the same period
was 61 thousand euros. 2015 fourth quarter operating loss 399 thousand euros
contains also a loss from write-down of receivables against Skano other
subsidiaries 265 thousand euros, which is non-monetary and will be eliminated
from the consolidated results as they are intragroup transactions against
another group company. Without write-down 2015 Q4 operating loss would have
been 134 thousand euros. In addition to write-down the profitability was
impacted by low sales volumes. In the fourth quarter of 2015 sales to Russia
decreased due to very weak demand by 39% as compared to 2014. Sales to Finland
decreased slightly 3 % and sales in the Baltics remained at the same level. 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 decreased 2% as compared to the
same period last year being 648 thousand euros, operating loss was 196 thousand
euros compared with the sales 662 thousand and operating loss 304 thousand
euros in the fourth quarter of 2014. 2015 fourth quarter operating loss 196
thousand euros (in Q4 2014: operating loss 304 thousand euros) contains also a
loss from a drop of currency exchange rate of hryvnia 77 thousand euros (in Q4
2014: exchange rate loss 137 thousand euros) and cost of write-down of
receivables against Skano Ukrainian subsidiary 125 thousand euros (in Q4 2014:
write-down 216 thousand euros). In Q4 2015 Skano Furniture OÜ exchange rate
loss and write-down cost amounting to 181 thousand euros (in Q4 2015: 304
thousand euros) is non-monetary and will be eliminated from the consolidated
results as they are intragroup transactions against another group company.
Retail sale increased in Estonia and Lithuania but decreased in Latvia and
Ukraine. 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 fourth quarter in 2015 was 4.2 mil. euros (4.7
mil. euros in same period of 2014) representing a 9% decrease compared to Q4
2014. The Group’s gross margin in the fourth quarter of 2015 was 16% compared
to 15% in the fourth quarter of 2014. Consolidated operating loss amounted to
281 thousand euros (operating loss 1 228 thousand euros from main activities in
same period 2014 which included also one-off non-monetary write-down of Püssi
fibreboard factory assets amount to 925 thousand euros. Without write-down 2015
Q4 operating loss would have been 304 thousand euros). The consolidated
operating margin of net sales was -6.7% (-26.3% from main activities in Q4
2014). Consolidated net loss amounted to 361 thousand euros (compared to net
loss 1 302 thousand euros in Q4 2014), and the net margin was -8.5% (-27.97% in
Q4 2014).
POSITION OF FINANCIAL STATEMENT
As of 31.12.2015 the total assets of Skano Group AS amounted to 13.3 mil. euros
(31.12.2014: 13.3 mil. euros). The liabilities of the company accounted for 63%
(31.12.2014: 60%) thereof, i.e. 8.3 mil. euros (31.12.2014: 8.0 mil. euros).
Receivables and prepayments have decreased by 0.2 mil. euros i.e. 19% decrease
within 12 months. Inventories have increased 0.5 mil euros with 12 months,
amounting to 3.4 mil. euros on 31.12.2015. (31.12.2014: 3.0 mil. euros).
Property, plant and intangibles amounted to 8,1 mil euros decreased by 0.2 mil.
euros mainly as a result of depreciation.
Short-term loans have decreased by 0.7 mil. euros and amounted to 1.3 mil.
euros in 31.12.2015 which was a result of usage of bank overdraft and
restructuring of the loan between short- and long-term payment schedule
(31.12.2014: 2.0 mil. euros). Supplier payables, tax liabilities, other
payables, including payables to employees, and provisions amounted to 2.7 mil.
euros (31.12.2014: 2.2 mil. euros).
Long-term loans have increased by 0.6 mil euros and amounted to 4.2 mil. euros
in 31.12.2015 (31.12.2014: 3.6 mil. euros). The increase was caused by
restructuring of the loan between short- and long-term payment schedule.
Current and non-current liabilities have increased by 0.3 mil. euros to 8.3
mil. euros (31.12.2014: 8.0 mil. euros).
DIVISIONAL REVIEW
NET SALES BY BUSINESS SEGMENTS
th EUR % of net sales
--------------------------------------------------------------
Q4 2015 Q4 2014 Q4 2015 Q4 2014
--------------------------------------------------------------
Skano Fibreboard OÜ 2,630 2,763 62.2% 59.3%
--------------------------------------------------------------
Skano Furniture Factory OÜ 1,179 1,467 27.9% 31.5%
--------------------------------------------------------------
Skano Furniture OÜ retail 648 662 15.3% 14.2%
--------------------------------------------------------------
Suomen Tuulileijona OY 666 839 15.8% 18.0%
--------------------------------------------------------------
Elimination (898) (1,070) (21.3%) (23.0%)
--------------------------------------------------------------
TOTAL 4,225 4,661 100.0% 100.0%
--------------------------------------------------------------
NET SALES BY GEOGRAPHICAL SEGMENTS
th EUR % of net sales
---------------------------------------------------
Q4 2015 Q4 2014 Q4 2015 Q4 2014
---------------------------------------------------
Finland 1,150 1,351 27.2% 29.0%
---------------------------------------------------
Russia 918 1,151 21.7% 24.7%
---------------------------------------------------
Estonia 788 660 18.7% 14.2%
---------------------------------------------------
Great Britain 342 403 8.1% 8.6%
---------------------------------------------------
Latvia 199 233 4.7% 5.0%
---------------------------------------------------
Portugal 175 0 4.1% 0.0%
---------------------------------------------------
Sweden 120 103 2.8% 2.2%
---------------------------------------------------
Lithuania 114 100 2.7% 2.1%
---------------------------------------------------
Ukraine 107 162 2.5% 3.5%
---------------------------------------------------
South Africa 53 184 1.3% 3.9%
---------------------------------------------------
Kazakhstan 41 56 1.0% 1.2%
---------------------------------------------------
Germany 40 38 0.9% 0.8%
---------------------------------------------------
Other countries 178 220 4.2% 4.7%
---------------------------------------------------
TOTAL 4,225 4,661 100.0% 100.0%
---------------------------------------------------
Regarding the markets, turnover has increased in Estonia and in new market
Portugal. The turnover has decreased most in Russia and Finland.
PROFIT BY BUSINESS SEGMENTS
th EUR Q4 2015 Q4 2014
-----------------------------------------
Skano Furniture factory (399) (61)
-----------------------------------------
Skano Furniture retail (196) (304)
-----------------------------------------
Skano Fibreboard (102) (1 199)
-----------------------------------------
Suomen Tuulileijona OY (32) (18)
-----------------------------------------
Elimination 448 354
-----------------------------------------
TOTAL (281) (1 228)
-----------------------------------------
Net financial costs (75) (73)
-----------------------------------------
Income tax (5) (1)
-----------------------------------------
NET PROFIT (361) (1 302)
-----------------------------------------
SKANO FIBREBOARD
The net sales of Skano Fibreboard in the fourth quarter of 2015 amounted to 2.6
mil. euros and operating loss to 102 thousand euros. In the same period last
year, the turnover of Skano Fibreboard totaled to 2.8 mil. euros and the
operating loss from main activities 1 199 thousand euros, which included also
one-off non-monetary write-down of Püssi fibreboard factory assets by 925
thousand euros.
The decrease in sales in the third quarter compare to last year took place in
Finland. Sales increased most in Estonia and Portugal.
NET SALES BY GEOGRAPHICAL SEGMENTS
th EUR % of net sales
-----------------------------------------------------------------------------
Q4 2015 Q4 2014 Q4 2015 Q4 2014
-----------------------------------------------------------------------------
Finland (incl. to Suomen Tuulileijona OY) 658 857 25.0% 31.0%
-----------------------------------------------------------------------------
Russia 548 541 20.8% 19.6%
-----------------------------------------------------------------------------
Estonia 390 322 14.8% 11.7%
-----------------------------------------------------------------------------
Great Britain 336 393 12.8% 14.2%
-----------------------------------------------------------------------------
Portugal 175 0 6.7% 0.0%
-----------------------------------------------------------------------------
Sweden 114 89 4.3% 3.2%
-----------------------------------------------------------------------------
Latvia 86 100 3.3% 3.6%
-----------------------------------------------------------------------------
South Africa 53 184 2.0% 6.7%
-----------------------------------------------------------------------------
Ukraine 48 42 1.8% 1.5%
-----------------------------------------------------------------------------
Germany 40 38 1.5% 1.4%
-----------------------------------------------------------------------------
Other countries 182 197 6.9% 7.1%
-----------------------------------------------------------------------------
TOTAL 2,630 2,763 100.0% 100.0%
-----------------------------------------------------------------------------
th EUR Net sales Operating Profit
--------------------------------------------------------------------------
Q4 2015 Q4 2014 Q4 2015 Q4 2014
--------------------------------------------------------------------------
Pärnu Fibreborad factory 825 1,024 (58) (139)
--------------------------------------------------------------------------
Püssi Fibreboard factory 1,252 1,220 (28) (1,051)
--------------------------------------------------------------------------
Pärnu interior boards factory (Isotex) 533 497 (16) (5)
--------------------------------------------------------------------------
Not allocated 20 22 0 (4)
--------------------------------------------------------------------------
TOTAL 2,630 2,763 (102) (1 199)
--------------------------------------------------------------------------
The net sales of the Pärnu fibreboard factory and interior board’s line
decreased 11 % in the fourth quarter of 2015 compared to the same quarter of
2014 and amounted to 1.4 mil. euros.
The turnover of Püssi fibreboard factory amounted to 1.3 mil. euros increasing
3% compared to the same quarter in 2014 (turnover 1.2 mil. euros in Q4 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 10 stores in Tallinn (3), Tartu, Pärnu, Riga, Vilnius, Kiev (2) and
Kharkiv at the end of the fourth quarter in 2015. A shop in Dnipropetrovsk was
handed over to a local dealer based on franchise agreement.
RETAIL SALES BY COUNTRIES
th EUR % of net sales Number of stores
-----------------------------------------------------------------
Q4 2015 Q4 2014 Q4 2015 Q4 2014 31.12.15 31.12.14
-----------------------------------------------------------------
Estonia 391 335 60.4% 50.6% 5 4
-----------------------------------------------------------------
Latvia 113 133 17.4% 20.1% 1 1
-----------------------------------------------------------------
Lithuania 85 74 13.1% 11.2% 1 1
-----------------------------------------------------------------
Ukraine 59 120 9.1% 18.1% 3 4
-----------------------------------------------------------------
TOTAL 648 662 100.0% 100.0% 10 10
-----------------------------------------------------------------
Retail sale amounted to 648 thousand euros in the fourth quarter of 2015 and
operating loss 196 thousand euros (sales 662 thousand euros and operating loss
304 thousand euros in Q4 2014). Current year fourth quarter operating loss 196
thousand euros (in Q4 2014: operating loss 304 thousand euros) contains also a
loss from a drop of currency exchange rate of hryvnia 77 thousand euros (in Q4
2014: exchange rate loss 137 thousand euros) and cost of write-down of
receivables against Skano Ukrainian subsidiary 125 thousand euros (in Q4 2014:
write-down 216 thousand euros). Skano Furniture OÜ exchange rate loss and
write-down cost amounting to 181 thousand euros (in Q4 2015: 304 thousand
euros) is non-monetary and will be eliminated from the consolidated results as
they are intragroup transactions against another group company.
FURNITURE PRODUCTION
The net sales of the Skano Furniture Factory in the fourth quarter amounted to
1.2 mil. euros and operating loss to 399 thousand euros. In the same period
last year, the turnover of the factory amounted also to 1.5 mil. euros and the
operating loss to 61 thousand euros. Fourth quarter operating loss 399 thousand
euros contains also a loss from write-down of receivables against Skano other
subsidiaries 265 thousand euros, which is non-monetary and will be eliminated
from the consolidated results as they are intragroup transactions against
another group company. As compared to the previous year the turnover of the
factory has decreased 20%. In the fourth quarter the sales decreased in Russia
by 39% 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
---------------------------------------------------
Q4 2015 Q4 2014 Q4 2015 Q4 2014
---------------------------------------------------
Finland 447 462 37.9% 31.5%
---------------------------------------------------
Russia 370 610 31.4% 41.6%
---------------------------------------------------
Other countries 80 116 6.8% 7.9%
---------------------------------------------------
Subsidiaries 282 279 23.9% 19.0%
---------------------------------------------------
TOTAL 1,179 1,467 100.0% 100.0%
---------------------------------------------------
FORECAST AND DEVELOPMENT
SKANO FIBREBOARD. We expect sales of Skano Fibreboard in Q1 2016 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 2016
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 Q1 2016 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 Q1 2016 we expect smaller sales of the furniture
factory compared to the same period in 2015 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 2016 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. In January 2016 we
participated the furniture fair in Cologne with three new series, which should
supports sales in 2H 2016.
FINANCIAL HIGHLIGHTS
th EUR 12 m 2015 12 m 2014 12 m 2013
------------------------------------------------------
Income statement
------------------------------------------------------
Revenue 18,789 20,330 19,186
------------------------------------------------------
EBITDA 739 (312) 438
------------------------------------------------------
EBITDA margin 3.9% (1.5%) 2.3%
------------------------------------------------------
Operating profit (101) (1,199) (467)
------------------------------------------------------
Operating margin (0.5%) (5.9%) (2.4%)
------------------------------------------------------
Net profit (411) (1,481) (706)
------------------------------------------------------
Net margin (2.2%) (7.3%) (3.7%)
------------------------------------------------------
-------------------------------------------------------
Balance sheet (31.12)
------------------------------------------------------
Total assets 13,262 13,329 14,722
------------------------------------------------------
Return on assets (3.1%) (11.1%) (4.8%)
------------------------------------------------------
Equity 4,919 5,300 6,805
------------------------------------------------------
Return on equity (8.4%) (27.9%) (10.4%)
------------------------------------------------------
Debt-to-equity ratio 62.9% 60.2% 53.8%
------------------------------------------------------
-------------------------------------------------------
Share (31.12)
------------------------------------------------------
Closing price 0.73 0.85 1.22
------------------------------------------------------
Earnings per share (0.09) (0.33) (0.16)
------------------------------------------------------
Price-earnings ratio (8.11) (2.58) (7.63)
------------------------------------------------------
Book value of a share 1.09 1.18 1.51
------------------------------------------------------
Market to book ratio 0.67 0.72 0.81
------------------------------------------------------
Market capitalization 3,284 3,824 5,489
------------------------------------------------------
EBITDA = Earnings before interest, taxes, depreciation and amortization
EBITDA margin = EBITDA / Revenue
Operating margin = Operating profit / Revenue
Net margin = Net profit / Revenue
Return on assets = Net profit / Total assets
Return on equity = Net profit / Equity
Debt-to-equity ratio = Liabilities / Total assets
Earnings per share = Net profit / Total shares
Price-earnings ratio = Closing price / Earnings per share
Book value of a share = Equity / Total shares
Market to book ratio = Closing price / Book value of a share
Market capitalization = Closing price * Total shares
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
th EUR 31.12.2015 31.12.2014
----------------------------------------------------------------
----------------------------------------------------------------
Cash and bank 292 432
----------------------------------------------------------------
Receivables and prepayments (Note 1) 997 1,232
----------------------------------------------------------------
Inventories (Note 2) 3,426 2,962
----------------------------------------------------------------
Total current assets 4,715 4,626
----------------------------------------------------------------
----------------------------------------------------------------
Investment property (Note 3) 406 407
----------------------------------------------------------------
Tangible fixed assets (Note 4) 8,120 8,267
----------------------------------------------------------------
Intangible fixed assets (Note 5) 21 29
----------------------------------------------------------------
Total fixed assets 8,547 8,703
----------------------------------------------------------------
----------------------------------------------------------------
TOTAL ASSETS 13,262 13,329
----------------------------------------------------------------
----------------------------------------------------------------
----------------------------------------------------------------
Debt obligations (Note 6) 1,253 2,030
----------------------------------------------------------------
Payables and prepayments (Note 7) 2,684 2,198
----------------------------------------------------------------
Short-term provisions (Note 8) 15 15
----------------------------------------------------------------
Total current liabilities 3,952 4,243
----------------------------------------------------------------
----------------------------------------------------------------
Non-current debt obligations (Note 6) 4,163 3,563
----------------------------------------------------------------
Non-current provisions (Note 8) 228 223
----------------------------------------------------------------
Total non-current liabilities 4,391 3,786
----------------------------------------------------------------
----------------------------------------------------------------
Total liabilities 8,343 8,029
----------------------------------------------------------------
----------------------------------------------------------------
Share capital at nominal value (Note 9) 2,699 2,699
----------------------------------------------------------------
Issue premium 364 364
----------------------------------------------------------------
Statutory capital reserve 288 288
----------------------------------------------------------------
Other reserves 7 0
----------------------------------------------------------------
Currency translation 7 (16)
----------------------------------------------------------------
Retained profits 1,965 3,446
----------------------------------------------------------------
Net profit (loss) for the year (Note 10) (411) (1,481)
----------------------------------------------------------------
Total equity 4,919 5,300
----------------------------------------------------------------
----------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 13,262 13,329
----------------------------------------------------------------
CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME
th EUR 4th Q 4th Q 2014 2015 2014
2015
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
RETURN ON SALES (Note 11) 4,225 4,661 18,789 20,330
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Cost of production sold (3,543) (3,955) (14,870) (16,727)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Gross profit 682 706 3,919 3,603
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Marketing expenses (807) (841) (3,203) (3,077)
--------------------------------------------------------------------------------
General administrative expenses (183) (150) (705) (622)
--------------------------------------------------------------------------------
Other income 61 59 390 103
--------------------------------------------------------------------------------
Other expenses (34) (1,002) (502) (1,206)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Operating profit (loss) (Note 11) (281) (1,228) (101) (1,199)
--------------------------------------------------------------------------------
Financial income and financial (75) (73) (301) (281)
expenses
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Profit (loss) before taxes (356) (1,301) (402) (1,480)
--------------------------------------------------------------------------------
Prepaid income tax (5) (1) (9) (1)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
NET PROFIT (LOSS) FOR THE PERIOD (361) (1,302) (411) (1,481)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Basic earnings per share (Note 10) (0.08) (0.29) (0.09) (0.33)
--------------------------------------------------------------------------------
Diluted earnings per share (Note 10) (0.07) (0.29) (0.08) (0.33)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Other comprehensive income:
--------------------------------------------------------------------------------
Currency translation differences 97 16 23 (24)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL COMPREHENSIVE INCOME (264) (1,286) (388) (1,505)
--------------------------------------------------------------------------------
The planned time of publishing of interim report of the first quarter of 2016
is week 21 (23-27th of May 2016)
Martin Kalle
CEO
+372 4478 331
[email protected]