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
8054
Manused
Esitamise kuupäev ja aeg
29.05.2020 16:51:11
Teate sisu eesti keeles
Pealkiri
Nordic Fibreboard AS 2020. aasta I kvartali auditeerimata majandustulemused
Teade
Nordic Fibreboard AS konsolideeritud müügitulu oli 2020. aasta 1. kvartalis
3,21 miljonit eurot, mis on 2019. aasta 1. kvartali jätkuvate tegevuste
müügituluga võrreldes 2% langust. Puitkiudplaadi müügitulu, mis oli 3,09
miljonit eurot 2020. aasta 1. kvartalis, kasv 7% tulenes põhiliselt uute
klientide lisandumisest Euroopa Liidus märkmetahvlite ja uste täitematerjalide
segmentides. Mööbli jaemüügi müügitulu oli 2020. aasta 1. kvartalis 47 tuhat
eurot, mis oli 88% vähenemist võrreldes eelmise aasta sama perioodiga. Põhjuseks
Skano Furniture OÜ aktiivse tegevuse lõpetamine ning 2020. aasta 1. kvartalis
toimusid ainult viimased allahindluskampaania müügid. Pärnu Riverside
Development OÜ 2020. aasta 1. kvartali müük kinnisvara haldamisest oli 68 tuhat
eurot.
Nordic Fibreboard AS konsolideeritud EBITDA oli 2020. aasta 1. kvartalis
negatiivne 310 tuhat eurot (2019 1. kv: jätkuvatelt tegevustelt positiivne 12
tuhat eurot). Kiudplaadi 2020. aasta 1. kvartali EBITDA oli negatiivne 255 tuhat
eurot ja mööbli jaemüügi EBITDA negatiivne 47 tuhat eurot. Kiudplaadi suure
kahjumi peamiseks põhjuseks oli Püssis asuva tootmistehase ajutine sulgemine
esimese kvartali lõpus. Püssi kiudpladivabriku ajutise sulgemise põhjuseks oli
selle tehase ühe suurima võtmekliendi kaotus, kus klient tühistas koroonaviiruse
pandeemia tõttu kõik oma tellimused.
Kontserni puhaskahjum oli 2020. aasta 1. kvartalis 534 tuhat eurot (2019 1 kv:
puhaskahjum jätkuvatelt tegevustelt 202 tuhat eurot).
ÄRIVALDKONDADE ÜLEVAADE
Müügitulu ärisegmentide lõikes
tuh EUR I kv 2020 | I kv 2019
--------------------------------------------+------------
Jätkuvad tegevused |
--------------------------------------------+-----------+
Kiudplaadi tootmine ja müük 3 091 | 2 893 |
--------------------------------------------+-----------+
Mööbli jaemüük 47 | 392 |
--------------------------------------------+-----------+
Kinnisvara haldamine 68 | 0 |
--------------------------------------------+-----------+
Elimineerimine (0) | (2) |
--------------------------------------------+-----------+
Kokku jätkuvatelt tegevustelt 3 206 | 3 284 |
--------------------------------------------+-----------+
Lõpetatud tegevus 0 | 545 |
--------------------------------------------+-----------+
KOKKU 3 206 | 3 829
--------------------------------------------+------------
Kasum ärisegmentide lõikes
------------+
tuh EUR I kv 2020 | I kv 2019
---------------------------------------------------------+------------
Jätkuvad tegevused |
---------------------------------------------------------+------------
EBITDA ärisegmentide lõikes |
---------------------------------------------------------+------------
Kiudplaadi tootmine ja müük (255)* | 23
---------------------------------------------------------+------------
Mööbli jaemüük (47) | (22)
---------------------------------------------------------+------------
Kinnisvara haldamine (2) | 0
---------------------------------------------------------+------------
Elimineerimine (6) | 12
---------------------------------------------------------+------------
Kokku EBITDA (310) | 12
---------------------------------------------------------+------------
Põhivara kulum ja amortisatsioon 151 | 150
---------------------------------------------------------+------------
Kokku ÄRIKASUM/-KAHJUM (462) | (138)
---------------------------------------------------------+------------
Neto finantskulud 72 | 64
---------------------------------------------------------+------------
Tulumaksukulu 0 | 0
---------------------------------------------------------+------------
PUHASKASUM/-KAHJUM jätkuvatelt tegevustelt (534) | (202)
---------------------------------------------------------+-----------+
Kasum/kahjum lõpetatud tegevuselt 0 | (121) |
---------------------------------------------------------+-----------+
KOKKU (534) | (323)
---------------------------------------------------------+------------
* Sisaldab erakorralist kulu 187 tuhat eurot Püssi tehase sulgemisest,
kasumiaruandes kajastatud kirjel muud ärikulud.
NORDIC FIBREBOARD LTD: KIUDPLAADI MÜÜK
Puitkiudplaadi müügitulu oli 2020. aasta 1. kvartalis 3,09 miljonit eurot, mis
on 7% kasvu 2019. aasta sama perioodiga võrreldes (2019 1. kv: 2,89 miljonit
eurot). 2020. aasta 1. kvartalis müüsime oma tooteid 21 riigi klientidele.
Euroopla Liidu klientidelt müügitulu kasv 2,09 miljonilt eurolt 2,74 miljoni
euroni tulenes uute klientide lisandumisest uste täitematerjalide ja
märkmetahvlite segmendis. Teiste regioonide, Aasia, Aafrika, Lähis-Ida ja
Venemaa, müügi vähenemist mõjutas tugevalt koroonaviiruse pandeemia tõttu tehtud
tellimuste tühistamised klientide poolt.
KIUDPLAADI MÜÜGITULU GEOGRAAFILISELT
tuh EUR
------------+
I kv 2020 | I kv 2019
---------------------------+-----------+
Euroopa Liit 2 741 | 2 093 |
---------------------------+-----------+
Venemaa 211 | 328 |
---------------------------+-----------+
Aasia 38 | 164 |
---------------------------+-----------+
Aafrika 35 | 143 |
---------------------------+-----------+
Lähis-Ida 38 | 86 |
---------------------------+-----------+
Teised 29 | 80 |
---------------------------+-----------+
KOKKU 3 091 | 2 893 |
SKANO FURNITURE: MÖÖBLI JAEMÜÜK
Mööbli jaemüügi müügitulu oli 2020. aasta 1. kvartalis 47 tuhat eurot, mis on
88% langust võrreldes sama perioodiga aastal 2019 (2019. aasta 1. kvartalis 392
tuhat eurot). Müügitulu langus on tingitud jaemüügiärist väljumisega. 2019
aastal sulges Skano Furniture OÜ 4 salongi ja 2020 aasta 1. kvartalis viimased
kaks allesjäänud salongi. EBITDA oli 2020. aasta 1. kvartalis negatiivne 47
tuhat eurot (2019. 1. kv: negatiivne 22 tuhat eurot).
Mööbli jaemüügitulu geograafiliselt
tuh EUR tuh EUR | Kaupluste arv |
------------+-----------+------------+------------+
I kv 2020 | I kv 2019 31.03.2020 | 31.03.2019
----------+-----------+-----------+------------+-------------
Eesti | 47 | 256 | 0 | 4
----------+-----------+-----------+------------+-------------
Läti | 0 | 40 | 0 | 1
----------+-----------+-----------+------------+-------------
Leedu | 0 | 96 | 0 | 1
----------+-----------+-----------+------------+-------------
Kokku | 47 | 392 | 0 | 6
PÄRNU RIVERSIDE DEVELOPMENT: KINNISVARAHALDUS
Pärnu Riverside Development OÜ omab kinnisvara Pärnu linnas asukohaga Suur-Jõe
tänav 48. Kinnisvaraobjektil on mõned üürnikud ning kinnisvarahaldusest saadud
müügitulu oli 2020. aasta 1. kvartalis 68 tuhat eurot. Ettevõte on asutatud
2019. aasta 2. kvartalis. 2020. aasta 1. kvartali EBITDA oli negatiivne 2 tuhat
eurot.
BILANSS JA RAHAVOOGUDE ARUANNE
Seisuga 31.03.2020 olid Nordic Fibreboard AS varad kokku 8,5 miljonit eurot
(31.03.2019: 10,1 miljonit eurot). Kontserni kohustised kokku olid seisuga
31.03.2020 7,5 miljonit eurot (31.03.2019: 7,6 miljonit eurot), milledest
Kontsernil oli laenukohustisi 4,74 miljonit eurot seisuga 31.03.2020
(31.03.2019: 4,7 miljonit).
Nõuded ja ettemaksed olid kokku 1,4 miljonit eurot seisuga 31.03.2020
(31.03.2019: 1,4 miljonit eurot). Varud seisuga 31.03.2020 0,5 miljonit eurot
(31.03.2019 1,9 miljonit eurot). Kontserni põhivara kokku seisuga 31.03.2020 oli
6,6 miljonit eurot (6,7 miljonit seisuga 31.03.2019). Bilansimahu muutus 2019.
aastal oli tingitud mööblitootmise ja -hulgimüügiga tegeleva tütarettevõtte
müügist kontsernist välja.
Kontserni äritegevuse tulemuseks oli 2020. aasta 1. kvartalis raha sissevool
summas 209 tuhat eurot (2019 1. kv: raha sissevool summas 84 tuhat eurot).
Investeerimistegevusest tulenevalt toimus 2020. aasta 1. kvartalis raha
väljavool summas 78 tuhat eurot, võrreldes raha väljavooluga 28 tuhat eurot
2019. aasta 1. kvartalis. Finantseerimistegevuse tulemuseks oli 2020. aasta 1.
kvartalis samuti raha väljavool summas 131 tuhat eurot (2019 1. kv: raha
väljavool 33 tuhat eurot). Netorahavoo tulemuseks oli 2020. aasta 1. kvartalis
raha väljavool summas 1 tuhat eurot, mis on halvenemine võrreldes raha
sissevooluga summas 24 tuhat eurot 2019. aasta 1. kvartalis.
TULEVIKU VÄLJAVAADE
NORDIC FIBREBOARD LTD
Koroonaviiruse pandeemia mõjutab käesoleval aastal nende riikide
majandustegevust, kuhu ettevõte oma toodangut müüb. Kuna selle pandeemia mõju on
ettearvamatu ja kestuse aeg teadmata, siis on tuleviku nõudlust toodangu osas
keeruline ette näha. Samas ei ole nõudlus meie toodangu suhtes Baltikumi ja
Põhjamaade klientide hulgas vähenenud, mis annab kindlustunnet meie tegevuse
jätkuvusele.
PÄRNU RIVERSIDE DEVELOPMENT
Jätkatakse Pärnus Suur-Jõe tn 48 oleva kinnisvara haldamist ja arendamist.
TÖÖTAJAD
Seisuga 31.03.2020 töötas Kontsernis 130 inimest (võrreldes 126 inimesega
jätkuva tegevuste sektoris seisuga 31.03.2019). Töötajate keskmine arv oli
2020 1. kvartalis 127 (1. kvartalis 2019: 126 jätkuvatel tegevusaladel).
2020. aasta esimese kolme kuu jooksul olid tööjõukulud koos maksukuludega kokku
587 tuhat eurot (2019 esimese kolme kuu jooksul jätkuvatelt tegevustelt 592
tuhat eurot). Kõigi kontserni ettevõtete s.h. tütarettevõtted juhatuse
liikmetele arvestatud tasud koos maksukuludega olid kokku 45 tuhat eurot 2020.
aasta 1. kvartalis ning 51 tuhat eurot 2019. aasta 1. kvartalis.
Finantssuhtarvud
tuh EUR
| |
Kasumiaruanne | I kv 2020 | I kv 2019
-------------------------------------------+------------+------------
Müügitulu | 3 206 | 3 284
-------------------------------------------+------------+------------
EBITDA | (310) | 12
-------------------------------------------+------------+------------
EBITDA rentaablus | (10%) | 0%
-------------------------------------------+------------+------------
Ärikasum/-kahjum | (462) | (138)
-------------------------------------------+------------+------------
Ärirentaablus | (14%) | (4%)
-------------------------------------------+------------+------------
Puhaskasum/-kahjum | (534) | (202)
-------------------------------------------+------------+------------
Puhasrentaablus | (17%) | (6%)
| |
--------------------------------------------------------+------------
Kasum/kahjum lõpetatud tegevuselt 0 | (121)
--------------------------------------------------------+------------
--------------------------------------------------------+------------
KASUM/KAHJUM KOKKU (534) | (323)
--------------------------------------------------------+------------
| |
Bilanss | 31.03.2020 | 31.12.2019
-------------------------------------------+------------+------------
Koguvarad | 8 475 | 10 147
-------------------------------------------+------------+------------
Koguvarade puhasrentaablus | (6%) | (2%)
-------------------------------------------+------------+------------
Omakapital | 1 017 | 2 587
-------------------------------------------+------------+------------
Omakapitali puhasrentaablus | (52%) | (8%)
-------------------------------------------+------------+------------
Võlakordaja | 88% | 75%
| |
| |
Aktsia | 31.03.2020 | 31.12.2019
-------------------------------------------+------------+------------
Aktsia viimane hind (EUR)* | 0,33 | 0,41
-------------------------------------------+------------+------------
Puhaskasum aktsia kohta (EUR) | (0,12) | (0,07)
-------------------------------------------+------------+------------
Hind-tulu (PE) suhtarv | (2,78) | (5,74)
-------------------------------------------+------------+------------
Aktsia raamatupidamisväärtus (EUR) | 0,23 | 0,58
-------------------------------------------+------------+------------
Turuhinna ja raamatupidamisväärtuse suhe | 1,46 | 0,72
-------------------------------------------+------------+------------
Turukapitalisatsioon tuh EUR | 1 485 | 1 854
-------------------------------------------+------------+------------
Aktsiate arv tk | 4 499 061 | 4 499 061
-------------------------------------------+------------+------------
Juhatuse deklaratsioon
Juhatus on koostanud Nordic Fibreboard AS tegevusaruande ning konsolideeritud
raamatupidamise vahearuande Nordic Fibreboard AS esimese kvartali 2020 tarvis.
Juhatus kinnitab, et lehekülgedel 4 kuni 8 esitatud Nordic Fibreboard AS
tegevusaruanne annab õige ja õiglase ülevaate emaettevõtte ja konsolideerimisse
kaasatud ettevõtete kui terviku äritegevuse arengust, tulemustest ja
finantsseisundist.
Juhatus kinnitab, et lehekülgedel 10 kuni 30 esitatud konsolideeritud
raamatupidamise vahearuanne annab juhatuse parima teadmise kohaselt õige ja
õiglase ülevaate emitendi ja konsolideerimisse kaasatud ettevõtete kui terviku
varadest, kohustistest, finantsseisundist ja tulemustest vastavalt
rahvusvaheliste finantsaruandluse standarditele, nagu need on vastu võetud
Euroopa Liidu poolt ning sisaldab peamiste riskide kirjeldust.
2020. aasta 1. kvartali tulemuse tõttu ei vasta Nordic Fibreboard
konsolideeritud omakapital 31.03.2020 seisuga äriseadustiku miinimumnõuetele.
Nõuetega vastavusse viimiseks plaanib juhtkond kutsuda järgmisel nädalal kokku
erakorralise aktsionäride üldkoosoleku, kus tehakse ettepanek vähendada aktsia
nimiväärtust 0,6 eurolt 0,06 eurole.
Torfinn Losvik
Juhatuse esimees
Tel: +372 56 990988
[email protected] (mailto:[email protected])
Teate sisu inglise keeles
Pealkiri
Unaudited financial results of Nordic Fibreboard AS for the first quarter of 2020
Teade
Consolidated net sales for Q1 2020 were EUR 3.21 million, being a 2% decrease
compared to the same period in 2019 from continued operations. Fibreboard sales
increased by 7% to EUR 3.09 million due to new customers in the European Union
within the display board and door core segments. Furniture retail sales revenue
EUR of 47 thousand decreased by 88% in the Q1 2020 compared to the same period of
the previous year, as Skano Furniture OÜ terminated its active operations and in
the Q1 2020 the last sales of the discount campaign took place. Pärnu Riverside
Development OÜ sales of real estate management in the Q1 2020 were EUR 68
thousand.
Nordic Fibreboard AS consolidated EBITDA were negative EUR 310 thousand for Q1
2020 (vs positive EUR 12 thousand Q1 2019 from continuing operations), whereby its
Fibreboard division recorded negative EBITDA of EUR 255 thousand and the Furniture
division negative EBITDA of EUR 47 thousand. The main reason for Fibreboard
division's large loss is attributed to the temporarily closure of the fibreboard
production plant in Püssi, such closure taking place in March due to the sudden
loss of orders from this factory's main customer caused by the corona virus
pandemic.
Net loss for Q1 2020 was EUR 534 thousand (Q1 2019: loss of EUR 202 thousand from
continuing operations).
DIVISION REVIEW OF FIRST QUARTER
Revenue by business segments
EUR thousand Q1 2020 | Q1 2019
---------------------------------------------+----------
Continued operations |
---------------------------------------------+---------+
Fibreboards production and sales 3,091 | 2,893 |
---------------------------------------------+---------+
Furniture retail 47 | 392 |
---------------------------------------------+---------+
Real Estate Management 68 | 0 |
---------------------------------------------+---------+
Group transactions (0) | (2) |
---------------------------------------------+---------+
TOTAL from continued operations 3,206 | 3,284 |
---------------------------------------------+---------+
Discontinued operations 0 | 545 |
---------------------------------------------+---------+
TOTAL 3,206 | 3,829
---------------------------------------------+----------
Profit by business segments
----------+
EUR thousand Q1 2020 | Q1 2019
---------------------------------------------------------+----------
Continued operations |
---------------------------------------------------------+----------
EBITDA by business units: |
---------------------------------------------------------+----------
Fibreboards production and sales (255)* | 23
---------------------------------------------------------+----------
Furniture retail (47) | (22)
---------------------------------------------------------+----------
Real Estate Management (2) | 0
---------------------------------------------------------+----------
Group transactions (6) | 12
---------------------------------------------------------+----------
TOTAL EBITDA (310) | 12
---------------------------------------------------------+----------
Depreciation 151 | 150
---------------------------------------------------------+----------
TOTAL OPERATING PROFIT/ LOSS (462) | (138)
---------------------------------------------------------+----------
Net financial costs 72 | 64
---------------------------------------------------------+----------
Income tax 0 | 0
---------------------------------------------------------+----------
NET PROFIT/ LOSS from continued operations (534) | (202)
---------------------------------------------------------+---------+
Net profit/loss from discontinued operations 0 | (121) |
---------------------------------------------------------+---------+
TOTAL (534) | (323)
---------------------------------------------------------+----------
* Includes extraordinary expense of Püssi factory closure of 187 thousand
euros, shown in the income statement under other operating expenses.
Nordic Fibreboard Ltd: FIBREBOARD sales
Fibreboard sales in Q1 2020 were EUR 3.09 million, which is 7% more than same
period in 2019 (2019: EUR 2.89 million). We sold our products to customers in 21
countries during Q1 2020. We recorded sales of EUR 2.74 million to customers in
the European Union, the increase from last year's Q1 sales of EUR 2.09 million
mainly coming from new customers in the European Union within the door core and
display board segments. The corona virus pandemic led to substantial reduction
in sales to customers in all other regions where we sell our fibreboards, these
being Asia, Africa, Middle East, and Russia.
FIBREBOARD SALES BY GEOGRAPHICAL SEGMENTS
EUR thousand
----------+
Q1 2020 | Q1 2019
---------------------------+---------+
European Union 2,741 | 2,093 |
---------------------------+---------+
Russia 211 | 328 |
---------------------------+---------+
Asia 38 | 164 |
---------------------------+---------+
Africa 35 | 143 |
---------------------------+---------+
Middle East 38 | 86 |
---------------------------+---------+
Other 29 | 80 |
---------------------------+---------+
TOTAL 3,091 | 2,893 |
SKANO FURNITURE: RETAIL SALES
Furniture retail sales in Q1 2020 were EUR 47 thousand, decrease 88% (2019 Q1 EUR
392 thousand) from same period last year. The decrease in sales revenue is due
to the exit from the retail business. In 2019, Skano Furniture OÜ closed 4
stores and in the first quarter of 2020 the last two remaining stores. EBITDA
for furniture retail for Q1 2020 were negative EUR 47 thousand (Q1 2019 EBITDA was
negative EUR 22 thousand).
RETAIL SALES BY COUNTRIES
| EUR thousand | Number of stores |
------------+---------+---------+------------+------------+
Q1 2020 | Q1 2019 31.03.2020 | 31.03.2019
------------+---------+---------+------------+-------------
Estonia | 47 | 256 | 0 | 4
------------+---------+---------+------------+-------------
Latvia | 0 | 40 | 0 | 1
------------+---------+---------+------------+-------------
Lithuania | 0 | 96 | 0 | 1
------------+---------+---------+------------+-------------
TOTAL | 47 | 392 | 0 | 6
PÄRNU RIVERSIDE DEVELOPMENT: REAL ESTATE MANAGEMENT
Pärnu Riverside Development owns the property located at Suur-Jõe 48 in Pärnu.
The property has some rental tenants which resulted in rental income, ie sales,
of EUR 68 thousand in Q1 2020. The company was established in Q2 2019. EBITDA for
Q1 2020 were negative EUR 2 thousand.
STATEMENT OF FINANCIAL POSITION AND CASH FLOW STATEMENT
As of 31.03.2020 the total assets of Nordic Fibreboard AS were EUR 8.5 million
(31.03.2019: EUR 10.1 million). The liabilities of the company as of 31.03.2020
were EUR 7.5 million (31.03.2019: EUR 7.6 million), of which Group has borrowings of
EUR 4.4 million as at 31.03.2020 (31.03.2019: EUR 4.7 million).
Receivables and prepayments amounted to EUR 1.4 million as at 31.03.2020
(31.03.2019: EUR 1.4 million). Inventories were EUR 0.5 million as of 31.03.2020
(31.03.2019: EUR 1.9 million). Fixed assets were EUR 6.6 million as of 31.03.2020 (EUR
6.7 million as of 31.03.2019). The decrease in balance sheet volume in 2019 is
due to the sale in September 2019 of the Group's furniture production and
wholesale subsidiary.
In 2020 Q1, the Group's cash flows from operating activities totalled cash
inflow of EUR 209 thousand (2019 Q1: cash inflow EUR 84 thousand). Investment
activities resulted in cash outflows in amount of EUR 78 thousand in 2020 Q1,
compared to outflows in amount EUR 28 thousand in Q1 2019. Financing activities
also resulted in cash outflows of EUR 131 thousand in Q1 2020 (2019 Q1: cash
outflow EUR 33 thousand). Net cash effect in 2020 Q1 shows cash outflow EUR 1
thousand (2019Q1: cash inflow EUR 24 thousand).
OUTLOOK
NORDIC FIBREBOARD LTD
The corona virus pandemic is still affecting the economy of the countries where
the company is selling its fibreboards, and due to the extraordinary and
unpredictable effect of this pandemic, we find it most difficult to foresee the
future demand situation. However, we take some comfort that our customers in the
Nordic and Baltic countries have so far not shown any signs of reducing their
demand for our fibreboards.
PÄRNU RIVERSIDE DEVELOPMENT
We will continue to manage and develop the property on Suur-Jõe Street 48,
Pärnu.
PEOPLE
On the 31st of March 2020, the Group employed 130 people (compared to 126 people
as of 31.03.2019 from continuing operations). The average number of personnel in
Q1 2020 was 127 (Q1 2019: 126 from continuing operations).
For three months of 2020, wages and salaries with taxes amounted to EUR 587
thousand (three months 2019: EUR 592 thousand from continuing operations).
Payments made to management board members of all group companies including all
subsidiaries with relevant taxes were EUR 45 thousand in Q1 2020 and EUR 51 thousand
in Q1 2019.
FINANCIAL HIGHLIGHTS
EUR thousand
| |
Income statement | Q1 2020 | Q1 2019
-----------------------------------------------+------------+-------------
Revenue | 3,206 | 3,284
-----------------------------------------------+------------+-------------
EBITDA | (310) | 12
-----------------------------------------------+------------+-------------
EBITDA margin | (10%) | 0%
-----------------------------------------------+------------+-------------
Operating profit | (462) | (138)
-----------------------------------------------+------------+-------------
Operating margin | (14%) | (4%)
-----------------------------------------------+------------+-------------
Net profit | (534) | (202)
-----------------------------------------------+------------+-------------
Net margin | (17%) | (6%)
| |
------------------------------------------------------------+------------+
Net profit/loss from discontinued operations 0 | (121) |
------------------------------------------------------------+------------+
------------------------------------------------------------+-------------
TOTAL NET PROFIT (534) | (323)
------------------------------------------------------------+-------------
| |
Statement of financial position | 31.03.2020 | 31.03.2019
-----------------------------------------------+------------+-------------
Total assets | 8,475 | 10,147
-----------------------------------------------+------------+-------------
Return on assets | (6%) | (2%)
-----------------------------------------------+------------+-------------
Equity | 1,017 | 2,587
-----------------------------------------------+------------+-------------
Return on equity | (52%) | (8%)
-----------------------------------------------+------------+-------------
Debt-to-equity ratio | 88% | 75%
| |
| |
Share | 31.03.2020 | 31.03.2019
-----------------------------------------------+------------+-------------
Last Price* | 0.33 | 0.41
-----------------------------------------------+------------+-------------
Earnings per share | (0.12) | (0.07)
-----------------------------------------------+------------+-------------
Price-earnings ratio | (2.78) | (5.74)
-----------------------------------------------+------------+-------------
Book value of a share | 0.23 | 0.58
-----------------------------------------------+------------+-------------
Market to book ratio | 1.46 | 0.72
-----------------------------------------------+------------+-------------
Market capitalization, EUR thousand | 1,485 | 1,854
-----------------------------------------------+------------+-------------
Number of shares, piece | 4,499,061 | 4,499,061
| +-------------
DECLARATION OF THE MANAGEMENT BOARD
The management board has prepared the management report and the consolidated
financial interim statements of Nordic Fibreboard AS for the first quarter 2020.
The management board confirms that the management report on pages 4-8 provides a
true and fair view of the business operations, financial results and financial
condition of the parent company and the entities included in consolidation.
The management board confirms that according to their best knowledge the
consolidated financial interim report on pages 10-30 presents a fair view of the
assets, liabilities, financial position and profit or loss of the issuer and the
entities involved in the consolidation as a whole according to the International
Financial Reporting Standards as they are adopted by the European Union and
contains a description of the main risks.
Due to the negative results in Q1 2020, the Company's equity does not meet the
commercial code minimum requirements as of 31 March 2020. The management will
convene an extraordinary general meeting of shareholders next week, where it is
proposed to decrease the nominal share value from EUR 0.6 to EUR 0.06, in which
case the equity will be in compliance with the minimum requirements in the
commercial code.
Torfinn Losvik
Chairman of the Management Board
Ph: +372 56 990988
[email protected] (mailto:[email protected])