Börsiteade
AS Silvano Fashion Group
LEI kood
529900JNG41RRJKJYB65
Emitendi suuruskategooria
Suur kontsern
Majandustegevusalad
Finants- ja kindlustustegevus
Emitendi registreeritud asukoht
Eesti
Üldandmed
Kategooriad
Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
Teate ID
3931
Manused
Esitamise kuupäev ja aeg
26.02.2013 07:00:00
Teate sisu eesti keeles
Pealkiri
SFG: 2012. aasta IV kvartali ja 12 kuu konsolideeritud vahearuanne
Teade
Tallinn, 2013-02-26 06:00 CET (GLOBE NEWSWIRE) --
<strong style="font-family: arial, helvetica, sans-serif; font-size: 10pt;
">Valikulised finantsnäitajad
<span style="font-family:Arial, Helvetica,
sans-serif;font-size:10pt;">Kontserni 2012. aasta 12 kuu (võrrelduna 2011.
aasta 12 kuuga) ja 31.12.2012 (võrrelduna 31.12.2011) valikulised
finantsnäitajad on järgmised:</span><span style="font-family:Arial, Helvetica,
sans-serif;font-size:10pt;"> </span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">12 kuud <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">12 kuud <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Muutus
style
2012</span></span>
2011</span></span>
</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">tuha
ndetes
eurod
es</sp
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">123 519</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">103 558</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">19,3%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Müüg
itulu<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">22 130</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">29 840</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-25,8%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">EBIT
DA</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">16 093</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">25 629</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-37,2%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Arua
ndeper
ioodi
puhas
kasum<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">14 151</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">21 501</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-34,2%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Puha
skasum
,
emaet
tevõtt
e
omani
ke
osa</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">0,36</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">0,55</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-34,7%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Kasu
m
aktsi
a
kohta
(euro
des)</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">4 907</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">28 080</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-82,5%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Peri
oodi
rahav
oog
ärite
gevuse
st</sp
an></s
pan>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">31.12.2012</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">31.12.2011</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Muutus
style
</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tuha
ndetes
eurod
es</sp
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">75 841</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">68 485</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">10,7%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Vara
d
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">55 847</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">51 881</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">7,6%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Käib
evarad
kokku
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">51 400</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">42 464</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">21,0%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Omak
apital
kokku
,
emaet
tevõtt
e
omani
ke
osa</
span><
/span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">47</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">20</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">135,0%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Laen
ukohus
tused<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">16 260</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">17 967</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-9,5%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Raha
ja
raha
ekviv
alendi
d</spa
n></sp
an>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">12 kuud <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">12 kuud 2011</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Muutus <span
style="font-s
2012</span></span>
</span></span> style
ize:10pt;"><sp
="font
an
-size:
style="font-f
10pt;"
amily:Arial,
><span
Helvetica,
style
sans-serif;">
="font
Rentaablusanal
-famil
üüs,
y:Aria
%</span></spa
l,
n>
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-----------------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">34,2</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">44,8</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-23,6%</span></span> <span
style="font-s
style
ize:10pt;"><sp
="font
an
-size:
style="font-f
10pt;"
amily:Arial,
><span
Helvetica,
style
sans-serif;">
="font
Brutokasum</sp
-famil
an></span>
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">17,9</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">28,8</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-37,8%</span></span> <span
style="font-s
style
ize:10pt;"><sp
="font
an
-size:
style="font-f
10pt;"
amily:Arial,
><span
Helvetica,
style
sans-serif;">
="font
EBITDA</span><
-famil
/span>
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">13,0</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">24,7</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-47,4%</span></span> <span
style="font-s
style
ize:10pt;"><sp
="font
an
-size:
style="font-f
10pt;"
amily:Arial,
><span
Helvetica,
style
sans-serif;">
="font
Puhaskasum</sp
-famil
an></span>
y:Aria
l,
Helve
tica,
sans-
serif;
">
</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">11,5</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">20,8</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-44,8%</span></span> <span
style="font-s
style
ize:10pt;"><sp
="font
an
-size:
style="font-f
10pt;"
amily:Arial,
><span
Helvetica,
style
sans-serif;">
="font
Puhaskasum,
-famil
emaettevõtte
y:Aria
omanike
l,
osa</span></s
Helve
pan>
tica,
sans-
serif;
">
</spa
n></sp
an>
-------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">31.12.2012</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">31.12.2011</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Muutus</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Fina
ntssuh
tarvud
,
%</sp
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
------------------------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">18,3</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">32,2</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-43,3%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">ROA<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">28,8</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">50,9</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-43,4%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">ROE<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">7,6</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">5,5</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">38,7%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Hinn
a/
kasum
i
suhe<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">4,6</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">3,6</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">26,9%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Lühi
ajalis
te
kohus
tuste
katte
kordaj
a</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">2,6</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2,1</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">21,7%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Likv
iidsus
kordaj
a</spa
n></sp
an>
<span <span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;"> </span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;"> </span></span>
<span
<span
style style
style
style
="font ="font
="font
="font
-size: -size:
-size:
-size:
10pt;" 10pt;"
10pt;"
10pt;"
><span ><span
><span
><span
style style
style
style
="font ="font
="font
="font
-famil -famil
-famil
-famil
y:Aria y:Aria
y:Aria
y:Aria
l, l,
l,
l,
Helve Helve
Helve
Helve
tica, tica,
tica,
tica,
sans- sans-
sans-
sans-
serif; serif;
serif;
serif;
"> ">
">
">
</spa </spa
</spa
</span
n></sp n></sp
n></sp
></spa
an> an>
an>
n>
<strong style="font-family: arial, helvetica, sans-serif; font-size: 10pt;
">Ärikeskkond
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2012. aasta viimase kvartali majanduskeskkond Silvano Fashion
Group põhiturgudel püsis muutumatuna. Kuigi nende regioonide majandus ei ole
täielikult lahutatav globaalsest makromajanduslikust keskkonnast, püsis
tarbijakulutuste trend stabiilsena. Me näeme märke kulupõhisest inflatsioonist,
mis võib omakorda lähitulevikus mingil määral seda trendi muuta, kuid nende
muutuste mõju meie müügimahtudele 2013. aastal ei ole
märkimisväärne.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2012. aasta IV kvartalis kasvas uute kaupluste avamise netoarv
(sisaldades nii uusi avamisi kui ka poodide sulgemisi tingituna
asukohamuutustest) Milavitsa kaubamärgi all 25 võrra ning Lauma Lingerie
kaubamärgi all 4 võrra. Seeläbi opereeris kontsern 2012. aasta lõpus otse ja
frantsiisipartnerite vahendusel kokku 584 kauplust, s.o. 87 kauplust enam
võrreldes 2011. aastaga. Avamiste tempo on võrreldav 2011. aastaga (85 uut
kauplust) ning täidab esmajoones meie eesmärki tagada stabiilne jaemüügi kasv
oma ja frantsiisipartnerite kaupluste vahendusel võrreldes raskemini
prognoositava hulgimüügi käibe kasvuga. 2012. aasta lõpuks opereerisid
Kontserni frantsiisipartnerid kontserni kaubamärkide all tegutsevate kauplusi
enam kui 20-s erinevas riigis.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Ukraina hulgimüügiettevõtte täielik omandamine 2012. aasta IV
kvartalis (eelnevalt ei kuulunud kontsernile 74% osalusest) ei tähenda
kontserni konsolideeritud EBITDA näitaja kohest paranemist, kuid võimaldab
suurendada kontrolli kontserni müügikanalite üle ning laiendada Milavitsa ja
Lauma Lingerie kaubamärkide all tegutsevate frantsiisipartnerite võrku
Ukrainas.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2012. aasta viimase kvartali põhitähelepanu oli suunatud
valmistoodangu varude kasvatamisele selleks, et valmistuda ette klientide
tellimuste täitmiseks 2013. aasta esimesel poolaastal. Kombineerituna hooajast
tingitud madalama müügikäibega tähendab see seda, et suuremad kaubavarud
mõjutavad kontserni vaba rahavoogu vähemalt 2013. aasta I kvartali lõpuni.
Sellele vaatamata on kaubavarude kasv paratamatu kuna kasvavad ka kontserni
Valgevcne ja Läti tootmisettevõtete müügikäibed.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Meie põhiturg – Venemaa – nii kogukäibe kui ka kaupluste arvu
poolest (348 kauplust kokku) näitas 75 138 tuhande euro suurest käivet 2012.
aastal võrreldes 66 283 tuhande euroga 2011. aastal. Venemaa
majandusministeeriumi andmetel kasvas riigi SKP IV kvartalis 2,2% võrra, 2012.
aasta kogukasv moodustas 3,5%. Rahvusvaheline Valuutafond prognoosib riigile
ligemale 4%-list majanduskasvu 2013. ja 2014. aastaks.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Valgevenes, meie suuruselt 2-l turul jäi SKP kasv 2012. aastal
pisut alla 2% IV kvartalis toimunud ehitustegevuse ja kaubanduskäivete
vähenemise tõttu. Sellele vaatamata kasvavad riigi tootmismahud, viidates
kontserni jaoks soodsale keskkonnale ka 2013. aastal. Esialgne
tarbijahinnaindeksi kasv (mis mõjutab ka hüperinflatsiooni arvutusi
aruandluses) ulatus 2012. aastal 21,5%-ni. Valgevene hüperinflatsiooniga
korrigeeritud müügikäive moodustas 2012. aastal 31 494 tuhat eurot võrreldes 23
702 tuhande euroga 2011. aastal.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Ukraina majanduse peegelduseks näitas Riiklik Statistikaamet SKP
kahanemist 2,7% võrra IV kvartalis 2012.a, mille tulemuseks on vägagi mõõdukas
0,2% SKP kasv aastaks tervikuna. Euroopa Rekonstruktsiooni- ja Arengupank
(EBRD) on vähendanud 2013. aasta majanduskasvu prognoosi 2,5 protsendilt 1
protsendini. Kontserni müük Ukrainas tervikuna kasvas 6 357 tuhande euroni
võrreldes 5 353 tuhande euroga 2011. aastal.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Balti riikide majanduste käekäik on jätkuvalt hea. Eesti esialgne
SKP kasvuprognoos IV kvartalisks on 3,7%. Läti SKP kasvab märkimisväärselt,
ulatudes 5,1%-ni IV kvartalis 2012.a, aastaprognoos ulatub 5,7%-ni. Leedu
esialgsed SKP näitajad viitavad 3,1% suurusele majanduskasvule IV kvartalis
ning 3,4% suurust majanduskasvu 2012. aastaks. Kontserni müük kasvas Balti
riikides 3 172 tuhade euroni 2012. aastal võrreldes 3 063 tuhande euro suuruse
müügikäibega 2011. aastal.</span></span><span style="font-family:Arial,
Helvetica, sans-serif;font-size:10pt;"> </span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Majandustulemused</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Valgevenes toimunud devalvatsiooni positiivne mõju kuludele
vähenes seoses kasvanud kulutustega tööjõule ja kommunaalteenustele ning
mõningal määral ka Valgevenest hangitud materjalidele. Kuid peamine faktor,
millel on negatiivne mõju sel aastal avalikustatavatele finantstulemustele ja
marginaalidele, on hüperinflatsioon. Raamatupidamises hüperinflatsiooni
tingimustes tuleb rakendada teatud arvestusmeetodeid, mis avaldavad negatiivset
mõju kontserni 2012. aasta finantstulemustele ja marginaalidele. Põhiliselt on
see seotud sellega, et kontserni põhiosa tootmiskuludest tekivad Valgevenes
ning kontsern peab aruandluses rakendama neile hüperinflatsiooni mõju vastavalt
IAS 29 standardile (2012. aasta 12 kuu inflatsioonimäär Valgevenes ületas 21%).
Samas kontserni müük Venemaal toimub üle tütarettevõtete ning seejuures
hüperinflatsiooni standardit ei rakendata.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Kontserni 2012. aasta 12 kuu käive moodustas 123 519 tuhat eurot,
suurenedes eelmise aasta sama perioodiga võrreldes 19%. Hulgimüügi kogukäive
kasvas 17% võrra ja jaemüügi käive 32% võrra.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Kontserni brutorentaablus 2012. aasta 12 kuuga vähenes ja
moodustas 34,2% (korrigeerituna hüperinflatsiooni mõjudega); võrdluseks –
eelmise aasta sama perioodi vastav näitaja oli 44,8%. 2012. aasta 12 kuu
konsolideeritud ärikasum ulatus 19 522 tuhande euroni võrreldes 2011. aasta 12
kuu konsolideeritud ärikasumiga summas 27 885 tuhat eurot. Konsolideeritud
ärikasumi rentaablus oli 16% (2011. a 12 kuud: 27%). 2012. aasta 12 kuu
konsolideeritud finantstulud ja -kulud moodustasid kokku 1 060 tuhat eurot,
2011. aasta 12 kuu võrreldav number oli 18 330 tuhat eurot.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2012. aasta 12 kuu efektiivne maksumäär oli 27,6% (2011. aasta 12
kuud: 26%). Kuigi 1. jaanuarist 2012 alanes Valgevenes tulumaksumäär 24%-lt
18%-le, tegelik maksumäär võrreldes 2011. aasta 12 kuuga siiski suurenes. See
tuleneb järgmistest asjaoludest: kontsern kasutas täielikult ära Venemaa
eelmiste aastate maksukahjumi, emaettevõte võttis dividende tütarettevõttest SP
ZAO Milavitsa ning osaliselt ka hüperinflatsiooni arvutusmõjudest
finantsaruannetele.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Emaettevõtte omanike osa 2012. aasta 12 kuu konsolideeritud
puhaskasumist ulatus 14 151 tuhande euroni, 2011. aasta 12 kuu vastav näitaja
oli 21 501 tuhat eurot; emaettevõtte omanike osa puhasrentaablusest oli 11,5%
(2011. aasta 12 kuud: 20,8%).</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Finantsseisund</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Seisuga 31. detsember 2012 ulatus konsolideeritud varade maht 75
841 tuhande euroni, seega võrreldes seisuga 31. detsember 2011.a moodustas kasv
10,7%.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Materiaalne ja immateriaalne põhivara kasvasid 31. detsembri 2011
seisuga võrreldes 2 838 tuhande euro võrra. Kasvu peapõhjus on
hüperinflatsiooni mõju algsaldole, samuti investeeringud uude
logistikakeskusesse Valgevenes.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Võrreldes 31. detsembriga 2011 kasvasid nõuded ostjate vastu 2 631
tuhande euro võrra ja moodustasid 2012. aasta 31. detsembri seisuga 17 746
tuhat eurot. Varude saldo kasvas 3 050 tuhande euro võrra moodustades 2012.
aasta 31. detsembri seisuga 24 598 tuhat eurot. Ostjate tasumata arvete ja
varude saldo kasv vastas ärivaldkonna hooajatrendile.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Hüperinflatsiooni mõju algsaldole avaldas positiivset mõju
emaettevõtte omanike osale kontserni omakapitalis, 2012. aasta 12 kuuga
moodustas see 4 769 tuhat eurot. Kokku suurenes emaettevõtte omanike osa
omakapitalis 8 938 tuhande euro võrra ulatudes 2012. aasta 31. detsembri
seisuga 51 400 tuhande euroni.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Lühiajalised kohustused vähenesid 2012. aasta 12 kuuga 2 186
tuhande euro võrra. Lühi- ja pikaajalised laenukohustused suurenesid 27 tuhande
euro võrra ulatudes 2012. aasta 31. detsembri seisuga 47 tuhande euroni (on
seotud OAO Junonaga).</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Müügi struktuur</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Müük turgude lõikes</span></span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">12 kuud <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">12 kuud <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Muutus</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">12 kuud 2012 <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">12 kuud 2011
style
2012</span></span>
2011</span></span>
style
% käibest</span></span>
% käibest</span></span>
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">tuha
">
ndetes
</spa
eurod
n></sp
es</sp
an>
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
---------------------------------------------------------------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">75 138</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">66 283</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">8 855</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">60,8%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">64,0%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Vene
">
maa</s
</spa
pan></
n></sp
span>
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">31 494</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">23 702</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">7 792</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">25,5%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">22,9%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Valg
">
evene<
</spa
/span>
n></sp
</span
an>
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">6 357</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">5 353</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">1 004</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">5,1%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">5,2%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Ukra
">
ina</s
</spa
pan></
n></sp
span>
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">3 172</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">3 063</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">109</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2,6%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">3,0%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Balt
">
i
</spa
riigi
n></sp
d</spa
an>
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">7 358</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">5 157</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">2 201</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6,0%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">5,0%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Muud
">
turud
</spa
</span
n></sp
></spa
an>
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">123 519</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">103 <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">19 961</span></span> <span <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">100,0%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">100,0%</span></span>
style
558</span></span>
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Kokk
">
u</spa
</spa
n></sp
n></sp
an>
an>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2012 aastal põhiturgudel toimunud müügid näitasid kasvu nii
rahalises vääringus kui ka müüdud tükkide arvus võrreldes sama perioodiga 2011.
aastal.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Suur osa 2012. aasta 12 kuu müügist saadi Venemaalt, s.o 75 138
tuhat eurot, mis moodustas 60,8% kogukäibest. Müügimahu poolest teine piirkond
oli Valgevene, kus käive ulatus 31 494 tuhande euroni, mis moodustas 25,5%
kogukäibest (nii jae- kui ka hulgimüük kokku); 2011. aasta 12 kuu vastav
näitaja oli 23 702 tuhat eurot. Muude turgude kogumüügist (7 358 tuhat eurot)
peamise osa moodustas müük Kasahstani ja Moldovasse.</span></span><span
style="font-family:Arial, Helvetica, sans-serif;font-size:10pt;"> </span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Müük ärisegmentide lõikes</span></span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">12 kuud <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">12 kuud <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Muutus</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">12 kuud 2012 <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">12 kuud 2011
style
2012</span></span>
2011</span></span>
style
% käibest</span></span>
% käibest</span></span>
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">tuha
">
ndetes
</spa
eurod
n></sp
es</sp
an>
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
---------------------------------------------------------------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">102 862</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">88 006</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">14 856</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">83,3%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">85,0%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Hulg
">
imüük<
</spa
/span>
n></sp
</span
an>
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">20 167</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">15 226</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">4 941</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">16,3%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">14,7%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Jaem
">
üük</s
</spa
pan></
n></sp
span>
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">490</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">326</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">164</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">0,4%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">0,3%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Muud
">
tegev
</spa
usvald
n></sp
konnad
an>
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">123 519</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">103 <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">19 961</span></span> <span <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">100,0%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">100,0%</span></span>
style
558</span></span>
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Kokk
">
u</spa
</spa
n></sp
n></sp
an>
an>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span style="font-family:Arial, Helvetica, sans-serif;font-size:10pt;">2012.
aasta 12 kuu hulgimüügi tulu ulatus 102 862 tuhande euroni, mis moodustas 83,3%
kontserni kogu müügitulust (2011. aasta 12 kuud: 85%). Peamised
hulgimüügipiirkonnad olid Venemaa, Valgevene, Ukraina, Kasahstan, Moldova ja
Balti riigid.</span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Kontserni 2012. aasta 12 kuu naistepesu jaemüügikäive moodustas
kokku 20 167 tuhat eurot, seega võrreldes eelmise aastaga oli tõus 19%.
Osaliselt tulenes kasv inflatsioonilisest keskkonnast Valgevenes, ühikutes
mõõdetud käive kasvas 2012. aasta 12 kuuga kokku ligikaudu 18% eelmise aasta
sama perioodiga võrreldes.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">31. detsembri 2012.a seisuga tegutses Milavitsa ja Lauma Lingerie
kaubamärkide all kokku 584 kauplust. Meie oma jaemüügiketid tegutsesid
Valgevenes ja Lätis. 2012. aasta 12 kuu lõpu seisuga opereeris kontsern 58
kauplusega (netokasv IV kvartalis 2012.a 2 kauplust) kogupindalaga 5 015
ruutmeetrit. 2012. aasta 31. detsembri seisuga tegutses Milavitsa tootemargi
all 491 kauplust, mida haldasid Milavitsa äripartnerid Venemaal, Valgevenes,
Ukrainas, Moldovas, Kasahstanis, Usbekistanis, Kõrgõzstanis, Lätis,
Aserbaidžaanis, Armeenias, Saksamaal, Lõuna-Aafrikas, Leedus, Eestis, Gruusias,
Araabia Ühendemiraatides, Iraanis, Sloveenias ja Belgias ja Itaalias. IV
kvartalis kasvas kaupluste arv 26 võrra ja võrreldes 2011. aasta IV kvartali
lõpu seisuga Milavitsa kaupluste arv kasvas kokku 76 kaupluse võrra. Lisaks
sellele tegutses 2012. aasta 31. detsembri seisuga ka 30 Lauma Lingerie
kauplust, mida haldasid Lauma Lingerie äripartnerid Leedus, Lätis, Eestis,
Valgevenes ja Albaanias. Lauma Lingerie puhul kontsern ootab lähitulevikus uute
kaupluste avamist Venemaal.</span></span>
Teate sisu inglise keeles
Pealkiri
SFG: Consolidated interim report for Q4 and 12 months 2012
Teade
Tallinn, 2013-02-26 06:00 CET (GLOBE NEWSWIRE) --
<strong style="font-family: arial, helvetica, sans-serif; font-size: 10pt;
">Selected Financial Indicators
<span style="font-family:Arial, Helvetica,
sans-serif;font-size:10pt;">Summarized selected financial indicators of the
Group for 12m 2012 compared to 12m 2011 and 31.12.2012 compared to 31.12.2011
were as follows:</span><span style="font-family:Arial, Helvetica,
sans-serif;font-size:10pt;"> </span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">12m <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">12m <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Change
style
2012</span></span>
2011</span></span>
</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">in
thous
ands
of
EUR</
span><
/span>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">123 519</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">103 558</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">19.3%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Reve
nue</s
pan></
span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">22 130</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">29 840</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-25.8%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">EBIT
DA</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">16 093</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">25 629</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-37.2%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Net
profi
t for
the
perio
d</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">14 151</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">21 501</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-34.2%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Net
profi
t
attri
butabl
e
equit
y
holde
rs of
the
Paren
t
compa
ny</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">0.36</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">0.55</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-34.7%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Earn
ings
per
share
(EUR)
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">4 907</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">28 080</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-82.5%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Oper
ating
cash
flow
for
the
perio
d</spa
n></sp
an>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">31.12.2012</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">31.12.2011</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Change
style
</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">in
thous
ands
of
EUR</
span><
/span>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">75 841</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">68 485</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">10.7%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
asset
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">55 847</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">51 881</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">7.6%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
curre
nt
asset
s</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">51 400</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">42 464</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">21.0%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Tota
l
equit
y
attri
butabl
e to
equit
y
holde
rs of
the
Paren
t
compa
ny</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">47</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">20</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">135.0%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Loan
s and
borro
wings<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">16 260</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">17 967</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-9.5%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Cash
and
cash
equiv
alents
</span
></spa
n>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">12m <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">12m <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Change
style
2012</span></span>
2011</span></span>
</span></span>
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Marg
in
analy
sis,
%</sp
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">34.2</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">44.8</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-23.6%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Gros
s
profi
t</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">17.9</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">28.8</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-37.8%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">EBIT
DA</sp
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">13.0</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">24.7</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-47.4%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Net
profi
t</spa
n></sp
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">11.5</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">20.8</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">-44.8%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Net
profi
t
attri
butabl
e
equit
y
holde
rs of
the
Paren
t
compa
ny</sp
an></s
pan>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">31.12.2012</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">31.12.2011</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Change</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Fina
ncial
ratio
s,
%</sp
an></s
pan>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">18.3</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">32.2</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-43.3%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">ROA<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">28.8</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">50.9</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">-43.4%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">ROE<
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">7.6</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">5.5</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">38.7%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Pric
e to
earni
ngs
ratio
(P/E)
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">4.6</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">3.6</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">26.9%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Curr
ent
ratio
</span
></spa
n>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">2.6</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2.1</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">21.7%</span></span>
style
="font
-size:
10pt;"
><span
style
="font
-famil
y:Aria
l,
Helve
tica,
sans-
serif;
">Quic
k
ratio
</span
></spa
n>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Business environment</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">General economic sentiment in the core markets of Silvano Fashion
Group remained unchanged for the last quarter of the year. Though these markets
are not isolated from the global, macroeconomic environment, the trend in
consumers’ spending has remained stable. There are signs of cost inflation that
may, in the near future, somewhat hinder the consumption patterns, yet these
changes have, if any, a modest influence on our sales volumes in
2013.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">On the store openings, Q4 2012 the net increase (including
openings and store closures primarily due to relocation) for Milavitsa stores
was 25 units and 4 units under the Lauma Lingerie brand. The Group therefore
operated directly and via franchise a total of 584 stores by the end of 2012,
net increase of 87 stores during 2012. This tempo of openings corresponds to
net store openings for 2011 (85 units), and primarily serves for the stable
growth of sales through own and franchise networks as opposed to less
predictable wholesale component. Total geography of our franchise partners now
covers more than 20 countries, including Milavitsa and Lauma Lingerie branded
stores.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Acquisition of Ukrainian trading company in Q4 2012 (previously
74% not owned by the Group) does not facilitate immediate improvement of the
Group’s EBITDA, but it is expected to increase the control over the sales
channels and the development of the franchise network of both Milavitsa and
Lauma stores in Ukraine.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">The last quarter of 2012 for the Group was the period of building
up the stocks in order to meet the demand in our core markets during first half
of 2013. Combined with the seasonally lower sales, its primary effect lies in
the increased inventories that tie up cash at least until the end of the Q1
2013. Nevertheless, due to the expected increasing business volumes this
pattern is unavoidable for Group`s production companies in Latvia and
Belarus.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Russia, our core market in terms of total sales and total number
of stores (348 stores in total), showed 75 138 thousand EUR in sales for 2012
compared to 66 283 thousand in 2011. By the data of Ministry of Economy the
Russia’s GDP advanced by 2.2% during the last quarter of 2012, up by 3.5% in
2012. The International Monetary Fund estimates growth rates slightly below 4%
mark also for 2013 and 2014.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">In Belarus, our number 2 market, the annual GDP growth remains
slightly below the modest 2% whilst the Q4 was affected by smaller volume in
construction and trade. Nevertheless, production volumes are rising, thus
indicating favourable environment also for the Group for 2013. The preliminary
CPI indicator (affecting the hyperinflationary accounting) amounted to 21.5%
for the whole year. 2012 hyperinflation adjusted sales in Belarus totalled 31
494 thousand EUR compared to 23 702 thousand EUR in 2011.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">The reflection of the Ukrainian economy by the State Statistics
Service showed real GDP decrease by 2.7% in Q4 2012 compared to year earlier,
resulting a modest 0.2% increase in GDP for 2012. EBRD has lowered its forecast
for GDP growth to 1% from the previous 2.5%. Ukrainian sales totalled 6 357
thousand EUR for 2012 compared to 5 353 thousand in 2011.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Baltic economies continue performing well. Estonia’s preliminary
GDP guidance is 3.7% in the Q4 2012. Latvia’s GDP continues buoyant and reached
5.1% in Q4 2012, the early guidance for 2012 GDP figure stands at 5.7%.
Lithuania’s preliminary GDP growth indication is 3.1% for Q4 2012 and 3.4% for
the whole year. Our sales in the region totalled 3 172 thousand EUR in 2012,
compared to 3 063 thousand EUR in 2011.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Financial performance</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Positive effect of the devaluation on the cost side has been
levelled out by increased expenses for labour, outsourcing, utilities and to
some extent materials sourced from Belarus. But main impact on reported results
is coming from hyperinflationary accounting, which requires us to apply certain
accounting methods that have negative influence on Group`s financial results
and margins in 2012. Mainly this is due to the fact that Group`s major part of
production expenses is generated in Belarus and Group has to hyperinflate them
according to IAS 29 (12 m 2012 inflation rate in Belarus was more than 21%).
But on the other hand Group`s sales in Russia are conducted via its
subsidiaries and are not hyperinflated.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">The Group`s sales amounted to 123 519 thousand EUR during 12
months 2012, representing a 19% increase as compared to the same period of
previous year. Overall, wholesales increased by 17% and retail sales – by
32%.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">The Group’s reported gross profit margin during 12 months 2012
decreased and was 34.2% (adjusted for hyperinflation accounting), as compared
to 44.8% in the respective period of previous year. Consolidated operating
profit for 12 months 2012 amounted to 19 522 thousand EUR, compared to 27 885
thousand EUR in 12 months 2011. The consolidated operating profit margin was
16% (27% in 12 months 2011). Consolidated net financial income amounted to 1
060 thousand EUR in 12 months 2012, respective amount in 12 months 2011 was 18
330 thousand EUR.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Effective tax rate for 12 months 2012 amounted to 27,6% (26% in 12
months 2011). Notwithstanding the decrease of income tax rate in Belarus from
24% to 18% starting from 1 January 2012, effective tax rate increased compared
to 12 months 2011. This is due to the following facts: the Group fully utilized
accumulated tax losses in one of Russian subsidiaries, the Parent company
collected dividends from its subsidiary SP ZAO Milavitsa, application of
hyperinflation adjustments to financial statements.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Consolidated net profit attributable to equity holders of the
Parent company amounted to 14 151 thousand EUR in 12 months 2012, compared to
21 501 thousand EUR in 12 months 2011; net profit margin attributable to equity
holders of the Parent company was 11.5% against 20.8% in 12 months
2011.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Financial position</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">As of 31 December 2012 consolidated assets amounted to 75 841
thousand EUR representing an increase of 10.7% as compared to the position as
of 31 December 2011.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Property, plant and intangibles balances increased by 2 838
thousand EUR as compared to 31 December 2011 key reasons being the
hyperinflation effect on opening balance and investments into new logistics
centre in Belarus.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Trade and other receivables increased by 2 631 thousand EUR as
compared to 31 December 2011 and amounted to 14 746 thousand EUR as of 31
December 2012. Inventory balance increased by 3 050 EUR thousand and amounted
to 24 598 thousand EUR as of 31 December 2012. Changes in trade debtors and
stock balance were in line with the seasonality trend of the
business.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Hyperinflation effect on opening balance had a positive impact on
the Group’s equity attributable to equity holders of the Parent company
comprising 4 769 thousand EUR as of 31 December 2012. On the overall basis,
equity attributable to equity holders of the Parent company increased by 8 938
thousand EUR and amounted to 51 400 thousand EUR as of 31 December
2012.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Current liabilities decreased by 2 186 thousand EUR in 12 months
2012. Current and non-current loans and borrowings increased by 27 thousand EUR
to 47 thousand EUR (attributable only to OAO Yunona) as of 31 December
2012.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Sales structure</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Sales by markets</span></span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">12m <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">12m <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">Change</span></span> <span <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">12m 2012
<span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">12m 2011
style
2012</span></span>
2011</span></span>
style
% from sales</span></span>
% from sales</span></span>
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">in
">
thous
</spa
ands
n></sp
of
an>
EUR</
span><
/span>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
---------------------------------------------------------------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">75 138</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">66 283</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">8 855</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">60.8%</span></span>
<span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">64.0%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Russ
">
ia</sp
</spa
an></s
n></sp
pan>
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">31 494</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">23 702</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">7 792</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">25.5%</span></span>
<span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">22.9%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Bela
">
rus</s
</spa
pan></
n></sp
span>
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">6 357</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">5 353</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">1 004</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">5.1%</span></span>
<span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">5.2%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Ukra
">
ine</s
</spa
pan></
n></sp
span>
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">3 172</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">3 063</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">109</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">2.6%</span></span>
<span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">3.0%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Balt
">
ics</s
</spa
pan></
n></sp
span>
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">7 358</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">5 157</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">2 201</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">6.0%</span></span>
<span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">5.0%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Othe
">
r
</spa
marke
n></sp
ts</sp
an>
an></s
pan>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">123 519</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">103 558</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">19 961</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">100.0%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">100.0%</span></span><span
style="font-family:Arial, Helvetica, sans-serif;font-size:10pt;"> </span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Tota
">
l</spa
</spa
n></sp
n></sp
an>
an>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Sales in the major markets demonstrated a positive trend in terms
of monetary revenue and pieces sold in 12 months 2012 as compared to the
respective period in 2011.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">The majority of lingerie sales revenue during 12 months 2012 in
the amount of 75 138 thousand EUR was generated in Russia, accounting for 60.8%
of total sales during 12 months 2012. The second largest market was Belarus,
where sales reached 31 494 thousand EUR, contributing 25.5% of lingerie sales
(both retail and wholesale) as compared to 23 702 thousand EUR in 12 months
2011. Out of the 7 358 thousand EUR sales in the other markets major part is
attributed to Kazakhstan and Moldova.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Sales by business segments</span></span>
<span <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">12m <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">12m <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">Change</span></span> <span <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">12m 2012
<span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">12m 2011
style
2012</span></span>
2011</span></span>
style
% from sales</span></span>
% from sales</span></span>
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">in
">
thous
</spa
ands
n></sp
of
an>
EUR</
span><
/span>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
---------------------------------------------------------------------------
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">102 862</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">88 006</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">14 856</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">83.3%</span></span>
<span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">85.0%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Whol
">
esale<
</spa
/span>
n></sp
</span
an>
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">20 167</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">15 226</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">4 941</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">16.3%</span></span>
<span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">14.7%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Reta
">
il</sp
</spa
an></s
n></sp
pan>
an>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">490</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">326</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">164</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">0.4%</span></span>
<span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">0.3%</span></span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Othe
">
r
</spa
opera
n></sp
tions<
an>
/span>
</span
>
<span <span style="font-size:10pt;"><span style="font-family:Arial,
Helvetica, sans-serif;">123 519</span></span> <span
style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">103 558</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">19 961</span></span> <span
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">100.0%</span></span> <span style="font-size:10pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">100.0%</span></span><span
style="font-family:Arial, Helvetica, sans-serif;font-size:10pt;"> </span>
style
style
="font
="font
-size:
-size:
10pt;"
10pt;"
><span
><span
style
style
="font
="font
-famil
-famil
y:Aria
y:Aria
l,
l,
Helve
Helve
tica,
tica,
sans-
sans-
serif;
serif;
">Tota
">
l</spa
</spa
n></sp
n></sp
an>
an>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">During 12 months 2012, wholesale revenue amounted to 102 862
thousand EUR, representing 83.3% of the Group’s total revenue (12 months 2011:
85%). The main wholesale regions were Russia, Ukraine, Belarus, Kazakhstan,
Moldova and the Baltic States.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Total lingerie retail sales of the Group in 12 months 2012
amounted to 20 167 thousand EUR, representing a 19% increase as compared to the
previous year. Certain part of the growth is attributable to inflationary
environment in Belarus, however growth of sales measured in units totalled
approximately 18% for 12 months 2012 over the same period last
year.</span></span>
<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">As of 31 December 2012 there were altogether 584 Milavitsa and
Lauma branded shops. Own retail operations were conducted in Belarus and
Latvia. As of the end of 12 months 2012 the Group operated 58 own retail
outlets (net increase of 2 stores in Q4 2012) with a total area of 5 015 square
meters. As of 31 December 2012, there were 497 Milavitsa branded shops operated
by Milavitsa trading partners in Russia, Ukraine, Moldova, Kazakhstan,
Uzbekistan, Kyrgyzstan, Latvia, Azerbaijan, Armenia, Germany, South Africa,
Lithuania, Estonia, Georgia, United Arab Emirates, Iran, Slovenia, Belgium and
Italy, resulting in net increase of 26 shops in Q4 2012, and increase by 76
shops compared to the end of Q4 2011. Additionally, as of 31 December 2012,
there were 30 Lauma Lingerie retail outlets operated by Lauma Lingerie trading
partners in Lithuania, Latvia, Estonia, Belarus and Albania. For Lauma
Lingerie, the Group expects further openings in Russia in the near
future.</span></span>