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
3937
Manused
Esitamise kuupäev ja aeg
27.02.2013 16:30:00
Teate sisu eesti keeles
Pealkiri
Majandustulemused 12 kuud 2012
Teade
Pärnu, 2013-02-27 15:30 CET (GLOBE NEWSWIRE) --
KOKKUVÕTE
Skano Group ASi 2012 aasta neljanda kvartali konsolideeritud müügitulu kasvas
2011 aasta neljanda kvartaliga võrreldes 2% ja oli 4,9 mln eurot. Kontserni
EBITDA oli neljandas kvartalis 178 tuhat eurot, 2011 aasta neljandas kvartalis
oli EBITDA vastavalt 83 tuhat eurot.
Skano Fibreboard Pärnu tehaste müük (sh. Isotex) kasvas eelmise aasta sama
perioodiga võrreldes 10% ja 2012 aasta neljanda kvartali ärikahjum vähenes 10%
ning moodustas 80 tuhande eurose ärikahjumi.
Skano Fibreboard Püssi kiudplaaditehase käive oli 822 tuhat eurot ja ärikahjum
oli 139 tuhat eurot. Ettevõtte juhtkonna prioriteediks on jätkuvalt Püssi
tehase toodangule müügi kindlustamine maksimaalse tootmisvõimsuse tagamiseks
ning selles suunas tehakse pidevat tööd. Lisaks tööle müügimahtudega teeme
pidevalt tegevusi tehase tootmisefektiivsuse tõstmiseks. Oleme tõstnud
tootmisliini maksimumkiirust ning seeläbi vähendanud toodete omahinda.
Skano Furniture Pärnu mööblivabriku käive vähenes eelmise aasta sama perioodiga
võrreldes 5% ja ärikasum 26%. Käive oli 1 930 tuhat ning ärikasum 120 tuhat
eurot.
Skano Furniture jaemüügiketi käive kasvas eelmise aasta sama perioodiga
võrreldes 12% ja oli 707 tuhat eurot ning ärikasum 34 tuhat eurot, sisaldades
Ukraina grivna kursimuutusest tekkinud kahjumit summas 32 tuhat eurot.
Jaemüügist moodustab Skano Group ASi enda toodetud mööbli müük jätkuvalt
olulise osa ning see võimaldab mööblivabrikul opereerida tunduvalt
kasumlikumalt, kui see ilma oma jaemüügiketita võimalik oleks.
KASUMIARUANNE
Aruandeaasta neljanda kvartali müügitulu oli 4,9 mln eurot (2011 aastal 4,8 mln
eurot) mis tähendab 2011 aasta neljanda kvartaliga võrreldes 2%-list kasvu.
Kontserni müügikäibe brutorentaablus oli 2012 aasta neljandas kvartalis 15,9%
(võrrelduna 2011 aasta neljanda kvartali 14,9%-ga). Konsolideeritud ärikahjum
oli 46 tuhat eurot (2011 aasta samal perioodil põhitegevuse ärikahjum 134 tuhat
eurot). Konsolideeritud müügikäibe ärirentaablus oli -1% (võrrelduna 2011 aasta
neljanda kvartali põhitegevuse ärirentaabluse -3%-ga).
Konsolideeritud puhaskahjum oli 110 tuhat eurot (2011 aasta neljandas kvartalis
oli põhitegevuse puhaskahjum 210 tuhat eurot) ja puhasrentaablus oli -2%
(võrrelduna 2011 aasta neljanda kvartali -4%-ga).
FINANTSSEISUNDI ARUANNE
Kontserni koguvarade maht oli 31.12.2012 seisuga 15,5 mln eurot (31.12.2011:
16,0 mln eurot), millest ettevõtte kohustused moodustasid 31.12.2012 seisuga 8
mln eurot (31.12.2011: 8,3 mln eurot) ehk 51,6% (31.12.2011: 51,8%).
Nõuded ja ettemaksud on kasvanud 0,1 mln eurot, suurenedes 12 kuuga 7%. Nõuete
suurenemise peamiseks põhjuseks on nõrk müük 2011 aasta detsembris, mis
vähendas detsembri lõpuks nõuete saldot oluliselt.
Varud kasvasid 12 kuuga 0,1 mln eurot, moodustades 31.12.2012 seisuga 3,3 mln
eurot. Seisuga 31.12.2011 oli varude maht 3,2 mln eurot. Materiaalne ja
immateriaalne põhivara vähenes 0,7 mln eurot peamiselt kulumi tõttu.
Lühiajalised laenukohustused olid seisuga 31.12.2012 1,8 mln eurot (31.12.2011
1,4 mln eurot) ja suurenesid 12 kuuga kokku 0,4 mln eurot peamiselt
ümberklassifitseerimise tõttu pikaajalisest lühiajaliseks laenukohustuseks.
Võlad hankijatele, maksukohustused, muud võlad, sh võlad töötajatele ja
eraldised moodustasid 1,9 mln eurot (seisuga 31.12.2011 2,1 mln eurot). Lühi-
ja pikaajalised kohustused kokku kahanesid 0,3 mln eurot 8,0 mln euroni
(31.12.2011 8,3 mln eurot).
ÄRIVALDKONDADE ÜLEVAADE
MÜÜK SEGMENTIDE LÕIKES
tuh EUR % käibest
----------------------------------------------------------------------------
IV kv. 2012 IV kv. 2011 IV kv. 2012 IV kv. 2011
----------------------------------------------------------------------------
Skano Fibreboard 2 606 2 414 52,8% 50,1%
----------------------------------------------------------------------------
Skano Furniture tootmine 1 930 2 026 39,1% 42,1%
----------------------------------------------------------------------------
Skano Furniture jaemüük 707 631 14,3% 13,1%
----------------------------------------------------------------------------
Elimineerimine (312) (255) (6,2%) (5,3%)
----------------------------------------------------------------------------
KOKKU 4 931 4 816 100,0% 100,0%
----------------------------------------------------------------------------
MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
-----------------------------------------------------------------
IV kv. 2012 IV kv. 2011 IV kv. 2012 IV kv. 2011
-----------------------------------------------------------------
Venemaa 1 444 1 297 29,3% 26,9%
-----------------------------------------------------------------
Soome 1 174 1 454 23,8% 30,2%
-----------------------------------------------------------------
Eesti 674 506 13,7% 10,5%
-----------------------------------------------------------------
Suurbitannia 456 526 9,2% 10,9%
-----------------------------------------------------------------
Holland 268 179 5,4% 3,7%
-----------------------------------------------------------------
Ukraina 257 282 5,2% 5,9%
-----------------------------------------------------------------
Läti 134 95 2,7% 2,0%
-----------------------------------------------------------------
Rootsi 116 135 2,4% 2,8%
-----------------------------------------------------------------
Leedu 108 103 2,2% 2,1%
-----------------------------------------------------------------
India 74 17 1,5% 0,4%
-----------------------------------------------------------------
Taani 39 39 0,8% 0,8%
-----------------------------------------------------------------
Kasahstan 38 74 0,8% 1,5%
-----------------------------------------------------------------
Teised riigid 149 109 3,0% 2,3%
-----------------------------------------------------------------
KOKKU 4 931 4 816 100,0% 100,0%
-----------------------------------------------------------------
Turgude lõikes on käive kasvanud Venemaal, Eestis, Hollandis ja Lätis. Enam on
vähenenud Soome osatähtsus käibes.
KASUM SEGMENTIDE LÕIKES
tuh EUR IV kv. 2012 IV kv. 2011
--------------------------------------------------
Skano Furniture tootmine 120 162
--------------------------------------------------
Skano Furniture jaemüük 34 59
--------------------------------------------------
Skano Fibreboard (220) (347)
--------------------------------------------------
Elimineerimine 20 (8)
--------------------------------------------------
KOKKU (46) (134)
--------------------------------------------------
Neto finantskulud (61) (73)
--------------------------------------------------
Tulumaksukulu (3) (3)
--------------------------------------------------
PUHASKASUM (110) (210)
--------------------------------------------------
SKANO FIBREBOARD
Skano Fibreboard müügitulu oli 2012 aasta neljanda kvartali 2,6 mln eurot ja
ärikahjum 220 tuhat eurot. Eelmise aasta samal perioodil oli üksuse käive 2,4
mln eurot ja ärikahjum 347 tuhat eurot. Meie jaoks ühel tätsamal turul, Soomes,
langes müük eelmise aasta sama perioodiga võrreldes 31%. Suur langus on
tingitud kõrgest võrdlusbaasist, mis saavutati 2011 aastal agressiivse
turunduskampaaniaga. Hoolimata müügilangusest Soomes on divisjoni käive
kasvanud 192 tuhat eurot ehk 8%. Kasvu põhjuseks on kasvanud kliendibaas.
MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
-----------------------------------------------------------------
IV kv. 2012 IV kv. 2011 IV kv. 2012 IV kv. 2011
-----------------------------------------------------------------
Venemaa 594 403 22,8% 16,7%
-----------------------------------------------------------------
Soome 463 669 17,8% 27,7%
-----------------------------------------------------------------
Suurbritannia 456 526 17,5% 21,8%
-----------------------------------------------------------------
Eesti 366 290 14,0% 12,0%
-----------------------------------------------------------------
Holland 268 179 10,3% 7,4%
-----------------------------------------------------------------
Rootsi 116 135 4,5% 5,6%
-----------------------------------------------------------------
India 74 17 2,8% 0,7%
-----------------------------------------------------------------
Läti 46 15 1,8% 0,6%
-----------------------------------------------------------------
Taani 39 39 1,5% 1,6%
-----------------------------------------------------------------
Ukraina 39 25 1,5% 1,0%
-----------------------------------------------------------------
Saksamaa 17 7 0,7% 0,3%
-----------------------------------------------------------------
Teised riigid 128 109 4,8% 4,6%
-----------------------------------------------------------------
KOKKU 2 606 2 414 100,0% 100,0%
-----------------------------------------------------------------
Skano Fibreboard käibe suurim kasv olnud Venemaa, Eesti ja Hollandi müügis.
Soome osatähtsus käibes on oluliselt langenud.
tuh EUR Müük Ärikasum
--------------------------------------------------------------------------------
IV kv. 2012 IV kv. 2011 IV kv. IV kv. 2011
2012
--------------------------------------------------------------------------------
Pärnu kiudplaadivabrik 1 285 1 224 (74) (47)
--------------------------------------------------------------------------------
Püssi kiudplaadivabrik 822 814 (139) (260)
--------------------------------------------------------------------------------
Pärnu vääristamisüksus 477 375 (6) (41)
(Isotex)
--------------------------------------------------------------------------------
Allokeerimata 22 1 (1) 1
--------------------------------------------------------------------------------
KOKKU 2 606 2 414 (220) (347)
--------------------------------------------------------------------------------
Pärnu kiudplaadivabriku ja siseviimistlusplaatide liini käive kasvas eelmise
aasta neljanda kvartaliga võrreldes 10% ja oli 1,8 miljonit eurot.
Püssis asuva kiudplaaditehase käive oli 822 tuhat eurot ning ärikahjum 139
tuhat eurot. Jätkuvalt on Püssi tehase probleemiks nõrk müük. Neljandas
kvartalis töötas tehas ca 70% võimsusega.
Oluline on märkida, et tänu suurtele püsikuludele tuleb tehase kasumlikuks
opereerimiseks käitada seda võimalikult suurel võimsusel, mis tagab madalama
toote keskmise omahinna. Täna on optimaalsest tunduvalt kõrgema omahinna
põhjustanud suuresti ka tehnoloogilised seisakud ja seadmete ümberehitus
tagamaks paremat efektiivsust.
Oleme jätkuvalt kindlad, et Püssi ost oli keskpikas perspektiivis väga hea
otsus ning usume, et käesoleva aasta teisel poolel suudame märkimisväärselt
Püssi tehase müügi ja tootmismahtu kasvatada.
SKANO FURNITURE
MÖÖBLI JAEMÜÜK
Skano Group ASi mööbli jaeäri opereerivad Skano Furniture OÜ ja selle
tütarfirmad Lätis, Leedus ja Ukrainas. Seisuga 31.12.2012 on mööblikaupluste
ketis kokku 9 kauplust: kaks Tallinnas ja üks Pärnus, Riias, Vilniuses,
Kiievis, Donetskis, Harkovis ja Dnepropetrovskis.
JAEMÜÜK RIIKIDE LÕIKES
tuh EUR % käibest Kaupluste arv
-------------------------------------------------------------------------------
IV kv. 2012 IV kv. 2011 IV kv. 2012 IV kv. 2011 31.12.12 31.12.11
-------------------------------------------------------------------------------
Eesti 292 197 41,3% 31,2% 3 3
-------------------------------------------------------------------------------
Läti 88 80 12,4% 12,7% 1 1
-------------------------------------------------------------------------------
Leedu 109 97 15,4% 15,4% 1 1
-------------------------------------------------------------------------------
Ukraina 218 257 30,9% 40,7% 4 6
-------------------------------------------------------------------------------
Kokku 707 631 100,0% 100,0% 9 11
-------------------------------------------------------------------------------
Mööbli jaemüük on jõudnud müügimahuni, millega on tegevus kasumlik ning 2012
aasta neljanda kvartali ärikasum oli 34 tuhat eurot, sisaldades ka kulusid
Ukraina grivna kursi muutusest summas 32 tuhat eurot.
MÖÖBLI TOOTMINE
Pärnu mööblivabrikus oli 2012 aasta neljanda kvartali müügitulu 1,9 mln eurot
ja ärikasum 120 tuhat eurot. Eelmise aasta samal perioodil oli mööblivabriku
käive 2,0 mln eurot ja kasum 162 tuhat eurot. Võrreldes eelmise aastaga on
vabriku käive vähenenud 96 tuhat eurot ja kasum vähenenud 42 tuhat eurot.
MÖÖBLIVABRIKU MÜÜK RIIKIDE LÕIKES
tuh EUR % käibest
-------------------------------------------------------------------
IV kv. 2012 IV kv. 2011 IV kv. 2012 IV kv. 2011
-------------------------------------------------------------------
Venemaa 850 894 44,0% 44,1%
-------------------------------------------------------------------
Soome 711 785 36,8% 38,7%
-------------------------------------------------------------------
Kasahstan 38 74 2,0% 3,7%
-------------------------------------------------------------------
Eesti 16 19 0,8% 0,9%
-------------------------------------------------------------------
Teised riigid 25 0 1,3% 0,0%
-------------------------------------------------------------------
Tütarettevõtted 290 254 15,1% 12,6%
-------------------------------------------------------------------
Kokku 1 930 2 026 100,0% 100,0%
-------------------------------------------------------------------
PROGNOOS JA ARENG
SKANO FIBREBOARD. Pärnu kiudplaaditehase põhitootmisliin töötab 2013 aasta
esimeses kvartalis vähendatud võimsusel. Siseviimistlusplaatide Isotex liinidel
kasutatakse vastavalt vajadusele ühte või kahte vahetust. Püssi tehas töötab
madalast nõudlusest tingituna 2013 aasta esimeses kvartalis umbes 60-70%
võimsusega.
Markimisväärset müügi kasvu ootame käesoleva aasta teiseks pooleks, seda
eelkõige Soomes ja SRÜ-s. Venemaa ja SRÜ müügimahud on viimastel aastatel
pidevalt kasvanud ning prognoosime trendi jätkumist ka 2013 aastaks. Soome
müügimahtude oluline langus 2012. aastal oli suuresti tingitud ebaõnnestunud
turunduspartneri valikust. Eelmise aasta lõpus vahetasime turunduspartnerit ja
oleme oma turundustegevust Soomes 2013 aastal oluliselt laiendamas. Samuti
oleme sõlminud strateegilise koostöölepingu Soomes, mille edukal käivitumisel
loodame laiendada Püssi tehase toodete sortimenti ning prognoosime Püssi tehase
tootmismahu märkimisväärset kasvu 2013 aasta teisel poolaastal. Sama lepingu
mõjul kasvab ka Pärnu tehase tootmismaht. Nimetatud tegurite koosmõjul loodame
oluliselt efektiivsemaks muuta tootmisprotsessi ning saavutada senisest
madalama omahinna ning suuremad müügimahud aasta teisel poolel.
SKANO MÖÖBLI JAEMÜÜK. Prognoosime, et 2013 aasta esimese kvartali jaemüük on
samal tasemel nagu see oli eelmise aasta esimeses kavartalis.
SKANO MÖÖBLIVABRIK.
2013 aasta esimeses kvartalis plaanime mööblivabrikus eelmise aastaga võrreldes
veidi väiksemat käivet.
FINANTSSUHTARVUD
tuh EUR 12 kuud 2012 12 kuud 2011 12 kuud 2010
--------------------------------------------------------------------------------
Kasumiaruanne
--------------------------------------------------------------------------------
Müügitulu 19 080 17 330 13 929
--------------------------------------------------------------------------------
EBITDA 1 040 3 436 1 430
--------------------------------------------------------------------------------
EBITDA rentaablus 5,5% 19,8% 10,3%
--------------------------------------------------------------------------------
Ärikasum 74 2 759 887
--------------------------------------------------------------------------------
Ärirentaablus 0,4% 15,9% 6,4%
--------------------------------------------------------------------------------
Puhaskasum (201) 2 565 771
--------------------------------------------------------------------------------
Puhasrentaablus (1,1%) 14,8% 5,5%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-
Bilanss (31.12)
--------------------------------------------------------------------------------
Koguvarad 15 471 15 950 9 115
--------------------------------------------------------------------------------
Koguvarade puhasrentaablus (1,3%) 16,1% 8,5%
--------------------------------------------------------------------------------
Omakapital 7 482 7 693 5 331
--------------------------------------------------------------------------------
Omakapitali puhasrentaablus (2,7%) 33,3% 14,5%
--------------------------------------------------------------------------------
Võlakordaja 51,6% 51,8% 41,5%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-
Aktsia (31.12)
--------------------------------------------------------------------------------
Aktsia sulgemishind (EUR) 1,24 1,62 1,44
--------------------------------------------------------------------------------
Puhaskasum aktsia kohta (EUR) (0,04) 0,57 0,17
--------------------------------------------------------------------------------
Hind-tulu (PE) suhtarv (31) 2,84 8,47
--------------------------------------------------------------------------------
Aktsia raamatupidamisväärtus (EUR) 1,66 1,71 1,18
--------------------------------------------------------------------------------
Turuhinna ja raamatupidamisväärtuse 0,75 0,95 1,22
suhe
--------------------------------------------------------------------------------
Turukapitalisatsioon 5 579 7 288 6 479
--------------------------------------------------------------------------------
EBITDA = ärikasum + kulum
EBITDA rentaablus = EBITDA / müügitulu
Ärirentaablus = ärikasum / müügitulu
Puhasrentaablus = puhaskasum / müügitulu
Koguvarade puhasrentaablus = puhaskasum / koguvarad
Omakapitali puhasrentaablus = puhaskasum / omakapital
Võlakordaja = kohustused / koguvarad
Puhaskasum aktsia kohta = puhaskasum / aktsiate arv
Hind-tulu (PE) suhtarv = aktsia sulgemishind / puhaskasum aktsia kohta
Aktsia raamatupidamisväärtus = omakapital / aktsiate arv
Turuhinna ja raamatupidamisväärtuse suhe = aktsia sulgemishind / aktsia
raamatupidamisväärtus
Turukapitalisatsioon = aktsia sulgemishind * aktsiate arv
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
tuh EUR 31.12.2012 31.12.2011
----------------------------------------------------------------
Raha ja raha ekvivalendid 158 206
----------------------------------------------------------------
Nõuded ja ettemaksed (lisa 1) 1 792 1 674
----------------------------------------------------------------
Varud (lisa 2) 3 303 3 177
----------------------------------------------------------------
Käibevara kokku 5 253 5057
----------------------------------------------------------------
----------------------------------------------------------------
Kinnisvarainvesteeringud (lisa 3) 185 185
----------------------------------------------------------------
Materiaalne põhivara (lisa 4) 10 010 10 692
----------------------------------------------------------------
Immateriaalne põhivara (lisa 5) 23 16
----------------------------------------------------------------
Põhivara kokku 10 218 10893
----------------------------------------------------------------
----------------------------------------------------------------
AKTIVA (vara) KOKKU 15 471 15950
----------------------------------------------------------------
----------------------------------------------------------------
----------------------------------------------------------------
Võlakohustused (lisa 6) 1 845 1 380
----------------------------------------------------------------
Võlad ja ettemaksed (lisa 7) 1 923 2 137
----------------------------------------------------------------
Lühiajalised eraldised (lisa 8) 12 11
----------------------------------------------------------------
Lühiajalised kohustused kokku 3 780 3528
----------------------------------------------------------------
----------------------------------------------------------------
Pikaajalised võlakohustused (lisa 6) 3 973 4 490
----------------------------------------------------------------
Pikaajalised eraldised (lisa 8) 236 239
----------------------------------------------------------------
Pikaajalised kohustused kokku 4 209 4729
----------------------------------------------------------------
----------------------------------------------------------------
Kohustused kokku 7 989 8257
----------------------------------------------------------------
----------------------------------------------------------------
Aktsiakapital (nimiväärtuses) (lisa 9) 2 699 2 699
----------------------------------------------------------------
Ülekurss 364 364
----------------------------------------------------------------
Kohustuslik reservkapital 288 288
----------------------------------------------------------------
Ümberhindluse kursivahed (21) (11)
----------------------------------------------------------------
Eelmiste perioodide jaotamata kasum 4 353 1 788
----------------------------------------------------------------
Aruandeaasta kasum (kahjum) (lisa 10) (201) 2 565
----------------------------------------------------------------
Omakapital kokku 7 482 7693
----------------------------------------------------------------
----------------------------------------------------------------
PASSIVA (kohustused ja omakapital) KOKKU 15 471 15 950
----------------------------------------------------------------
KONSOLIDEERITUD KOONDKASUMIARUANNE
tuh EUR IV kv IV kv 2012 2011
2012 2011
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Müügitulu (lisa 11) 4 931 4 816 19 080 17 330
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-
Müüdud toodangu kulu (4 148) (4 097) (16 050) (14 119)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-
Brutokasum 783 719 3 030 3 211
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-
Turustuskulud (638) (683) (2 389) (2 383)
--------------------------------------------------------------------------------
Üldhalduskulud (161) (184) (546) (532)
--------------------------------------------------------------------------------
Muud äritulud 32 60 163 2621*
--------------------------------------------------------------------------------
Muud ärikulud (62) (46) (184) (158)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-
Ärikasum (kahjum) (lisa 11) (46) (134) 74 2 759
--------------------------------------------------------------------------------
Neto finantskulu (61) (73) (258) (187)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-
Kasum(kahjum) enne tulumaksu (107) (207) (184) 2 572
--------------------------------------------------------------------------------
Tulumaksukulu (3) (3) (17) (7)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-
PERIOODI PUHASKASUM (KAHJUM) (110) (210) (201) 2 565
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-
Valuutakursside muutuste mõju (10) (18) (10) (27)
konsolideerimisel
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-
PERIOODI KOONDKASUM(KAHJUM) (120) (228) (211) 2 538
--------------------------------------------------------------------------------
Tava perioodi puhaskasum(kahjum) aktsia (0,02) 0,05 (0,04) 0,57
kohta (lisa 10)
--------------------------------------------------------------------------------
Lahustatud perioodi puhaskasum(kahjum) (0,02) 0,05 (0,04) 0,57
aktsia kohta (lisa 10)
--------------------------------------------------------------------------------
* 2011 aasta muude äritulude hulgas on kasum Püssi kiudplaadivabriku
allahindlusega ostust 2 455 tuh. EUR
2013 aasta esimese kvartali vahearuande planeeritud avalikustamise aeg on nädal
20 (13.-20.mai 2013).
Martin Kalle
Finantsdirektor
447 8331
[email protected]
www.skano.com
Teate sisu inglise keeles
Pealkiri
Financial result, 12 months 2012
Teade
Pärnu, 2013-02-27 15:30 CET (GLOBE NEWSWIRE) --
MANAGEMENT REPORT
FOURTH QUARTER IN SHORT
Consolidated net sales of the fourth quarter of 2012 was 4.9 mil. euros,
representing a 2% increase on the fourth quarter compared to the same period in
2011. At the same time, consolidated EBITDA amounted to 178 thousand euros (83
thousand euros in Q4 2011).
The sales in Skano Pärnu fibreboard factory (incl. Isotex) increased as
compared to the respective period last year by 10%, the operating loss
decreased 10% and operating loss amounted to 80 thousand euros.
The turnover of Skano Püssi fibreboard factory was 822 thousand euros and
operating loss 139 thousand euros. The priority of the management of the
enterprise is continuously to ensure the sales of the production of Skano Püssi
fibreboard factory in order to guarantee the maximum production capacity and
efforts are taken in this direction on an on-going basis. In addition to
efforts regarding the sales volumes we are constantly working on raising the
production efficiency of the factory. We have raised the maximum speed of the
production line and thereby lowered the cost price of products.
The turnover of Skano furniture factory in Pärnu decreased by 5% and the
operating profit by 26% as compared to the same period last year, and the
operating profit was 120 thousand euros.
The turnover of Skano furniture retail chain increased by 12% as compared to
the same period last year being 707 thousand euros and the operating profit was
34 thousand euros containing loss from currency exchange rate of hryvnia 32
thousand euros. The sales of Skano Group AS own furniture still forms a
considerable part of the retail sale and it enables the furniture factory to
operate much more profitably than it would be possible without its own retail
chain.
INCOME STATEMENT
Consolidated net sales of the fourth quarter in 2012 was 4.9 mil. euros (4.8
mil. euros in same period of 2011) representing a 2% increase on the fourth
quarter compared to Q4 2011. The Group’s gross margin in the fourth quarter of
2012 was 15.9% compared to 14.9% in the fourth quarter of 2011. Consolidated
operating loss amounted to 46 thousand euros (loss 134 thousand euros from main
activities in same period 2011). The consolidated operating margin of net sales
was -1% (-3% from main activities in Q4 2011).
Consolidated net loss amounted to 110 thousand euros (compared to net loss 210
thousand euros in Q4 2011), and the net margin was -2% (-4% in Q4 2011).
POSITION OF FINANCIAL STATEMENT
As of 31.12.2012 the total assets of Skano Group AS amounted to 15.5 mil. euros
(31.12.2011: 16.0 mil. euros). The liabilities of the company accounted for
51.6% (31.12.2011: 51.8%) thereof, i.e. 8 mil. euros (31.12.2011: 8.3 mil.
euros).
Receivables and prepayments have increased by 0.1 mil. euros i.e. 7% increase
with 12 months. The reason of increase of receivables is small sales in
December 2011, which essentially lowered the amount of receivables at the end
of December.
Inventories increased by 0.1 mil. euros to reach 3.3 mil. euros on 31.12.2012.
(31.12.2011: 3.2 mil. euros). Property, plant and intangibles decreased by 0.7
mil. euros mainly as a result of depreciation.
Short-term loans increased by 0.4 mil. euros and amounted to 1.8 mil. euros in
31.12.2012 (31.12.2011: 1.4 mil. euros) as a result of re-classification part
of long-term loan into short-term loan. Supplier payables, tax liabilities,
other payables, including payables to employees, and provisions amounted to 1.9
mil. euros (31.12.2011: 2.1 mil. euros). Current and non-current liabilities
decreased by 0.3 mil. euros to 8.0 mil. euros (31.12.2011: 8.3 mil. euros).
DIVISIONAL REVIEW:
NET SALES BY BUSINESS SEGMENTS
th EUR % of net sales
-----------------------------------------------------------
Q4 2012 Q4 2011 Q4 2012 Q4 2011
-----------------------------------------------------------
Skano Fibreboard 2,606 2,414 52.8% 50.1%
-----------------------------------------------------------
Skano Furniture factory 1,930 2,026 39.1% 42.1%
-----------------------------------------------------------
Skano Furniture retail 707 631 14.3% 13.1%
-----------------------------------------------------------
Elimination (312) (255) (6.2%) (5.3%)
-----------------------------------------------------------
TOTAL 4,931 4,816 100.0% 100.0%
-----------------------------------------------------------
NET SALES BY GEOGRAPHICAL SEGMENTS
th EUR % of net sales
---------------------------------------------------
Q4 2012 Q4 2011 Q4 2012 Q4 2011
---------------------------------------------------
Russia 1,444 1,297 29.3% 26.9%
---------------------------------------------------
Finland 1,174 1,454 23.8% 30.2%
---------------------------------------------------
Estonia 674 506 13.7% 10.5%
---------------------------------------------------
Great Britain 456 526 9.2% 10.9%
---------------------------------------------------
Nederland 268 179 5.4% 3.7%
---------------------------------------------------
Ukraine 257 282 5.2% 5.9%
---------------------------------------------------
Latvia 134 95 2.7% 2.0%
---------------------------------------------------
Sweden 116 135 2.4% 2.8%
---------------------------------------------------
Lithuania 108 103 2.2% 2.1%
---------------------------------------------------
India 74 17 1.5% 0.4%
---------------------------------------------------
Denmark 39 39 0.8% 0.8%
---------------------------------------------------
Kazakhstan 38 74 0.8% 1.5%
---------------------------------------------------
Other countries 149 109 3.0% 2.3%
---------------------------------------------------
TOTAL 4,931 4,816 100.0% 100.0%
---------------------------------------------------
Regarding the markets, turnover has increased in Russia, Estonia, Latvia and
Nederland. The percentage of turnover has decreased in most in Finland.
PROFIT BY BUSINESS SEGMENTS
th EUR Q4 2012 Q4 2011
-----------------------------------------
Skano Furniture factory 120 162
-----------------------------------------
Skano Furniture retail 34 59
-----------------------------------------
Skano Fibreboard (220) (347)
-----------------------------------------
Elimination 20 (8)
-----------------------------------------
TOTAL (46) (134)
-----------------------------------------
Net financial costs (61) (73)
-----------------------------------------
Income tax (3) (3)
-----------------------------------------
NET PROFIT (110) (210)
-----------------------------------------
SKANO FIBREBOARD
The net sales of Skano Fibreboard in the fourth quarter of 2012 amounted to 2.6
mil. euros and operating loss to 220 thousand euros. In the same period last
year, the turnover of the division totaled to 2.4 mil. euros and the operating
loss from main activities 347 thousand euros. Sales in Finland, which is one
the most important markets to us decreased by 31%. Such a decline in the fourth
quarter was due to high comparison basis in the fourth quarter of 2011 when an
aggressive marketing campaign was launched in Finland. In spite of the decline
in Finland, overall sales of Skano Fibreboard increased by 192 thousand euros
i.e. 8% mainly due to increased client base.
NET SALES BY GEOGRAPHICAL SEGMENTS
th EUR % of net sales
---------------------------------------------------
Q4 2012 Q4 2011 Q4 2012 Q4 2011
---------------------------------------------------
Russia 594 403 22.8% 16.7%
---------------------------------------------------
Finland 463 669 17.8% 27.7%
---------------------------------------------------
Great Britain 456 526 17.5% 21.8%
---------------------------------------------------
Estonia 366 290 14.0% 12.0%
---------------------------------------------------
Nederland 268 179 10.3% 7.4%
---------------------------------------------------
Sweden 116 135 4.5% 5.6%
---------------------------------------------------
India 74 17 2.8% 0.7%
---------------------------------------------------
Latvia 46 15 1.8% 0.6%
---------------------------------------------------
Denmark 39 39 1.5% 1.6%
---------------------------------------------------
Ukraine 39 25 1.5% 1.0%
---------------------------------------------------
Germany 17 7 0.7% 0.3%
---------------------------------------------------
Other countries 128 109 4.8% 4.6%
---------------------------------------------------
TOTAL 2,606 2,414 100.0% 100.0%
---------------------------------------------------
The biggest growth has been in sales to Russia, Estonia and Nederland. The
percentage of sales into Finland decreased significantly.
th EUR Net sales Profit
--------------------------------------------------------------------------
Q4 2012 Q4 2011 Q4 2012 Q4 2011
--------------------------------------------------------------------------
Pärnu Fibreborad factory 1,285 1,224 (74) (47)
--------------------------------------------------------------------------
Püssi Fibreboard factory 822 814 (139) (260)
--------------------------------------------------------------------------
Pärnu interior boards factory (Isotex) 477 375 (6) (41)
--------------------------------------------------------------------------
Not allocated 22 1 (1) 1
--------------------------------------------------------------------------
TOTAL 2,606 2,414 (220) (347)
--------------------------------------------------------------------------
The net sales of the Pärnu Fibreboard factory and interiors boards line
increased 10% in the fourth quarter of 2012 compared to the same quarter of
2011 and amounted to 1.8 mil. euros.
The turnover of Püssi fibreboard factory amounted to 822 thousand euros and
operating loss amounted to 139 thousand euros. The main question is still weak
sales volumes of Püssi Fibreboard factory. In the fourth quarter Püssi factory
was operated at 70% of its capacity.
It is also important to note that due to high fixed costs, the factory must be,
for a profitable outcome, operated at as high capacity as possible, which shall
ensure a lower average cost of the product. Presently, the cost price
considerably higher than the optimum is greatly caused by technological
standstills and reconstruction of equipment in order to ensure better
efficiency.
We are still confident that purchasing of the Püssi was a very good decision in
the medium term and after introducing of significant technological and
procedural changes in the factory we succeed in reducing the cost price more
than we had expected before the purchase of the factory.
SKANO FURNITURE
FURNITURE RETAIL SALES
Skano Group AS retail business is operated by a private limited company Skano
Furniture OÜ and its subsidiaries in Latvia, Lithuania and Ukraine. Skano has
totally 9 stores in Tallinn (2), Pärnu, Riga, Vilnius, Kiev, Donetsk, Kharkiv
and Dnipropetrovs’k at the end of the fourth quarter.
RETAIL SALES BY COUNTRIES
th EUR % of net sales Number of stores
-----------------------------------------------------------------
Q4 2012 Q4 2011 Q4 2012 Q4 2011 31.12.12 31.12.11
-----------------------------------------------------------------
Estonia 292 197 41.3% 31.2% 3 3
-----------------------------------------------------------------
Latvia 88 80 12.4% 12.7% 1 1
-----------------------------------------------------------------
Lithuania 109 97 15.4% 15.4% 1 1
-----------------------------------------------------------------
Ukraine 218 257 30.9% 40.7% 4 6
-----------------------------------------------------------------
TOTAL 707 631 100.0% 100.0% 9 11
-----------------------------------------------------------------
The furniture retail sale has reached to the profitable sales level, and it
results with profit 34 thousand euros in the fourth quarter 2012. Loss from
currency exchange rate of hryvnia was 32 thousand euros.
FURNITURE PRODUCTION
The net sales of the Furniture Factory in the fourth quarter amounted to 1.9
mil. euros and profit to 120 thousand euros. In the same period last year, the
turnover of the factory totaled to 2.0 mil. euros and the profit 162 thousand
euros. As compared to the previous year the turnover of the factory has
decreased 96 thousand euros and the operating profit has decreased 42 thousand
euros.
FURNITURE FACTORY SALES BY COUNTRIES
tuh EUR % käibest
-------------------------------------------------------------------
IV kv. 2012 IV kv. 2011 IV kv. 2012 IV kv. 2011
-------------------------------------------------------------------
Venemaa 850 894 44,0% 44,1%
-------------------------------------------------------------------
Soome 711 785 36,8% 38,7%
-------------------------------------------------------------------
Kasahstan 38 74 2,0% 3,7%
-------------------------------------------------------------------
Eesti 16 19 0,8% 0,9%
-------------------------------------------------------------------
Teised riigid 25 0 1,3% 0,0%
-------------------------------------------------------------------
Tütarettevõtted 290 254 15,1% 12,6%
-------------------------------------------------------------------
Kokku 1 930 2 026 100,0% 100,0%
-------------------------------------------------------------------
FORECAST AND DEVELOPMENT
SKANO FIBREBOARD. The main production line of Pärnu Fibreboard factory is
operating at reduced capacity in the first quarter of 2013. Production lines of
Isotex interior finishing boards use one or two shifts as necessary. Due to low
demand Püssi factory is operating at approximately of 60-70% of its capacity in
the first quarter of the year 2013.
We expect significant sales growth for H2 2013, mostly from CIS and Finland.
Russian and CIS sales volumes have been growing steadily over the past years
and we expect this to continue in 2013. In 2012 our sales in Finland saw a
sharp decline, largely due to us choosing the wrong distribution partner. We
have changed our distribution partner at the end of 2012 and plan to
significantly add to our marketing efforts in Finland in 2013. We have also
signed a strategic cooperation agreement in Finland, which if implemented
successfully, will allow us to increase the output of Püssi factory
significantly in second half of 2013. We also expect this to help us our Pärnu
factory reach higher capacity utilization and as a result of this, expect the
whole production process to become more efficient, lead to lower average
production price and higher sales volumes in H2 2013
SKANO FURNITURE RETAIL SALES. We expect retail sale in the first quarter of
2013 to remain the same level compared to the same period of last year.
SKANO FURNITURE FACTORY.
In the first quarter of 2013 we expect small decrease in sales of the furniture
factory compared to the same period in 2012.
FINANCIAL HIGHLIGHTS
th EUR 12 m 2012 12 m 2011 12 m 2010
------------------------------------------------------
Income statement
------------------------------------------------------
Revenue 19,080 17,330 13,929
------------------------------------------------------
EBITDA 1,040 3,436 1,430
------------------------------------------------------
EBITDA margin 5.5% 19.8% 10.3%
------------------------------------------------------
Operating profit 74 2,759 887
------------------------------------------------------
Operating margin 0.4% 15.9% 6.4%
------------------------------------------------------
Net profit (201) 2,565 771
------------------------------------------------------
Net margin (1.1%) 14.8% 5.5%
------------------------------------------------------
-------------------------------------------------------
Balance sheet (31.12)
------------------------------------------------------
Total assets 15,471 15,950 9,115
------------------------------------------------------
Return on assets (1.3%) 16.1% 8.5%
------------------------------------------------------
Equity 7,482 7,693 5,331
------------------------------------------------------
Return on equity (2.7%) 33.3% 14.5%
------------------------------------------------------
Debt-to-equity ratio 51.6% 51.8% 41.5%
------------------------------------------------------
-------------------------------------------------------
Share (31.12)
------------------------------------------------------
Closing price 1.24 1.62 1.44
------------------------------------------------------
Earnings per share (0.04) 0.57 0.17
------------------------------------------------------
Price-earnings ratio (31) 2.84 8.47
------------------------------------------------------
Book value of a share 1.66 1.71 1.18
------------------------------------------------------
Market to book ratio 0.75 0.95 1.22
------------------------------------------------------
Market capitalization 5,579 7,288 6,479
------------------------------------------------------
EBITDA = Earnings before interest, taxes, deprecation and amortization
EBITDA margin = EBITDA / Revenue
Operating margin = Operating profit / Revenue
Net margin = Net profit / Revenue
Return on assets = Net profit / Total assets
Return on equity = Net profit / Equity
Debt-to-equity ratio = Liabilities / Total assets
Earnings per share = Net profit / Total shares
Price-earnings ratio = Closing price / Earnings per share
Book value of a share = Equity / Total shares
Market to book ratio = Closing price / Book value of a share
Market capitalization = Closing price * Total shares
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
th EUR 31.12.2012 31.12.2011
----------------------------------------------------------------
----------------------------------------------------------------
Cash and bank 158 206
----------------------------------------------------------------
Receivables and prepayments (Note 1) 1,792 1,674
----------------------------------------------------------------
Inventories (Note 2) 3,303 3,177
----------------------------------------------------------------
Total current assets 5,253 5,057
----------------------------------------------------------------
----------------------------------------------------------------
Investment property (Note 3) 185 185
----------------------------------------------------------------
Tangible fixed assets (Note 4) 10,010 10,692
----------------------------------------------------------------
Intangible fixed assets (Note 5) 23 16
----------------------------------------------------------------
Total fixed assets 10,218 10,893
----------------------------------------------------------------
----------------------------------------------------------------
TOTAL ASSETS 15,471 15,950
----------------------------------------------------------------
----------------------------------------------------------------
----------------------------------------------------------------
Debt obligations (Note 6) 1,845 1,380
----------------------------------------------------------------
Payables and prepayments (Note 7) 1,923 2,137
----------------------------------------------------------------
Short-term provisions (Note 8) 12 11
----------------------------------------------------------------
Total current liabilities 3,780 3,528
----------------------------------------------------------------
----------------------------------------------------------------
Non-current debt obligations (Note 6) 3,973 4,490
----------------------------------------------------------------
Non-current provisions (Note 8) 236 239
----------------------------------------------------------------
Total non-current liabilities 4,209 4,729
----------------------------------------------------------------
----------------------------------------------------------------
Total liabilities 7,989 8,257
----------------------------------------------------------------
----------------------------------------------------------------
Share capital at nominal value (Note 9) 2,699 2,699
----------------------------------------------------------------
Issue premium 364 364
----------------------------------------------------------------
Statutory capital reserve 288 288
----------------------------------------------------------------
Currency translation (21) (11)
----------------------------------------------------------------
Retained profits 4,353 1,788
----------------------------------------------------------------
Net profit (loss) for the year (Note 10) (201) 2,565
----------------------------------------------------------------
Total equity 7,482 7,693
----------------------------------------------------------------
----------------------------------------------------------------
TOTAL LIABILITIES AND EQUITY 15,471 15,950
----------------------------------------------------------------
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
th EUR 4th q 2012 4th q 2011 2012 2011
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
RETURN ON SALES (Note 11) 4,931 4,816 19,080 17,330
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Cost of production sold (4,148) (4,097) (16,050) (14,119)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Gross profit 783 719 3,030 3,211
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Marketing expenses (638) (683) (2,389) (2,383)
--------------------------------------------------------------------------------
General administrative expenses (161) (184) (546) (532)
--------------------------------------------------------------------------------
Other income 32 60 163 2,621*
--------------------------------------------------------------------------------
Other expenses (62) (46) (184) (158)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Operating profit (loss) (Note 11) (46) (134) 74 2,759
--------------------------------------------------------------------------------
Financial income and financial (61) (73) (258) (187)
expenses
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Profit (loss) before taxes (107) (207) (184) 2,572
--------------------------------------------------------------------------------
Prepaid income tax (3) (3) (17) (7)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
NET PROFIT (LOSS) FOR THE PERIOD (110) (210) (201) 2,565
--------------------------------------------------------------------------------
Basic earnings per share (Note 10) (0.02) 0.05 (0.04) 0.57
--------------------------------------------------------------------------------
Diluted earnings per share (Note 10) (0.02) 0.05 (0.04) 0.57
--------------------------------------------------------------------------------
Currency translation differences (10) (18) (10) (27)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TOTAL COMPREHENSIVE INCOME (120) (228) (211) 2,538
--------------------------------------------------------------------------------
* The other income 2011 includes the gain from a bargain purchase 2,455 th.
euros.
The planned time of publishing of iterim report of the first quarter 2013 is
week 20 (13.-17. May 2103).
MartinKalle
CFO
+372 447 8331
[email protected]
www.skano.com