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
8222
Manused
Esitamise kuupäev ja aeg
17.08.2020 15:04:54
Teate sisu eesti keeles
Pealkiri
Nordic Fibreboard AS 2020. aasta II kvartali auditeerimata majandustulemused
Teade
JUHTKONNA ARUANNE
Nordic Fibreboard AS konsolideeritud müügitulu oli 2020. aasta 2. kvartalis
jätkuvatelt tegevustelt 3,48 miljonit eurot (2019 2. kvartalis jätkuvatelt
tegevustelt 3,48 miljonit eurot). Kontserni peamise ärisegmendi, puitkiudplaadi,
müügitulu 2020. aasta 2. kvartalis oli 2,43 miljonit eurot (2019 2. kvartalis
3,01 miljonit eurot). Müügitulu languse peamiseks põhjuseks oli Püssi tehase
sulgemine 2020. aasta märtsis, mis tulenes COVID-19 pandeemia tõttu klientide
tellimuste olulistest kaotustest märkmetahvlite tööstuses. Mööbli jaemüügi
müügitulu 2020. aasta 2. kvartalis 8 tuhat eurot, müügitulu vähenemine
(võrreldes 2019. aasta 2. kvartaliga 468 tuhat eurot) tulenes Kontserni
väljumisest mööbli jaemüügi segmendist selle aasta alguses ning 2020. aasta 2.
kvartalis alguses toimus ainult mõnede järelejäänud laojääkide tühjendusmüük.
Kinnisvarahalduse müügitulu, sealhulgas kommunaalkulude edasimüük, oli 2020.
aasta 2. kvartalis 44 tuhat eurot (2019 2 kv. 16 tuhat eurot). Tulu rendist ja
kinnisvarahaldusest suurenes tänu sellele, et Pärnus Suur-Jõe 48 asuvatele
ruumidele tagati rohkem üürnikke.
Kontserni EBITDA oli 2020. aasta 2. kvartalis jätkuvatelt tegevustelt positiivne
347 tuhat eurot (2019 2. kv: jätkuvatelt tegevustelt positiivne 52 tuhat eurot),
millest kiudplaadi segmendi EBITDA oli 342 tuhat eurot (2019 2. kvartalis 13
tuhat eurot). Peale akumuleeritud kulumi ja finantskulu oli kontserni puhaskasum
2020. aasta 2. kvartalis 194 tuhat eurot jätkuvatelt tegevustelt (2019 2. kv:
puhaskahjum jätkuvatelt tegevustelt 179 tuhat eurot).
Kontserni konsolideeritud EBITDA paranes võrreldes eelmise aasta sama
perioodiga, mille peamiseks põhjuseks oli kiudplaadi divisjoni paranenud
efektiivsus. Püssi tehase sulgemise tõttu viidi Püssis toodetavate ehitussektori
tellimused üle Pärnu tehasesse, mille tulemusena alustas Pärnu tehas 2020. aasta
aprillis tööd neljas vahetuses. Pärnu tehas töötab nüüd täisajaga
tootmisvõimsusel, välja arvatud igakuiseks korraliseks hooldustööks üks kord kuu
jooksul. Masinate suurema töövõimsuse kasutamise tulemusena suurenes Nordic
Fibreboardi brutomarginaal märkimisväärselt, ulatudes 2020. aasta 2. kvartalis
31%-ni (2019 2. kv 15%)
Ärivaldkondade ülevaade
Müügitulu ärisegmentide lõikes
tuh EUR | tuh EUR |
-------------+------------+---------+---------+
II kv 2020 | II kv 2019 6k 2020 | 6k 2019
---------------------------------------------+----------------------+----------
Jätkuvad tegevused | |
---------------------------------------------+------------+---------+---------+
Kiudplaadi tootmine ja müük 2 426 | 3 013 | 5 517 | 5 906 |
---------------------------------------------+------------+---------+---------+
Mööbli jaemüük 8 | 468 | 55 | 861 |
---------------------------------------------+------------+---------+---------+
Kinnisvara haldamine 44 | 16 | 113 | 16 |
---------------------------------------------+------------+---------+---------+
Elimineerimine 0 | (18) | (0) | (20) |
---------------------------------------------+------------+---------+---------+
Kokku jätkuvatelt tegevustelt 2 479 | 3 480 | 5 685 | 6 763 |
| | | |
---------------------------------------------+------------+---------+---------+
Lõpetatud tegevus 0 | 408 | 0 | 954 |
---------------------------------------------+------------+---------+---------+
---------------------------------------------+----------------------+----------
KOKKU 2 479 | 3 888 5 685 | 7 717
---------------------------------------------+----------------------+----------
Kasum ärisegmentide lõikes
tuh EUR II kv 2020|II kv 2019 6k 2020|6k 2019
----------------------------------------------------+------------------+-------
Jätkuvad tegevused | |
----------------------------------------------------+------------------+-------
EBITDA ärisegmentide lõikes | |
----------------------------------------------------+------------------+-------
Kiudplaadi tootmine ja müük 342| 13 88| 36
----------------------------------------------------+------------------+-------
Mööbli jaemüük 8| (16) (39)| (38)
----------------------------------------------------+------------------+-------
Kinnisvara haldamine (1)| 16 (3)| 16
----------------------------------------------------+------------------+-------
Elimineerimine (2)| 39 (9)| 50
----------------------------------------------------+------------------+-------
Kokku EBITDA 347| 52 37| 64
----------------------------------------------------+------------------+-------
Põhivara kulum ja amortisatsioon 135| 166 287| 316
----------------------------------------------------+------------------+-------
Kokku ÄRIKASUM/-KAHJUM 212| (114) (250)| (252)
----------------------------------------------------+------------------+-------
Neto finantskulud 18| 65 90| 129
----------------------------------------------------+------------------+-------
Tulumaksukulu 0| 0 0| 0
----------------------------------------------------+------------------+-------
PUHASKASUM/-KAHJUM jätkuvatelt | |
tegevustelt 194| (179) (340)| (381)
| |
----------------------------------------------------+----------+-------+-------
Kasum/kahjum lõpetatud tegevuselt 0| (121)| 0| (243)
----------------------------------------------------+----------+-------+-------
----------------------------------------------------+------------------+-------
KOKKU 194| (300) (340)| (624)
----------------------------------------------------+------------------+-------
NORDIC FIBREBOARD LTD
Puitkiudplaadi müügitulu oli 2020. aasta 2. kvartalis 2,43 miljonit eurot (2019
2. kv: 3,01 miljonit eurot). 2020. aasta 2. kvartalis müüsime oma tooteid 18
riigi klientidele. Müügitulu peamiseks languse põhjuseks oli märkmetahvlite
segmendis klientide kaotus. Kogu selle sektori toodang toodeti Püssi tehases,
mis 2020. aasta märtsis suleti. Samas meie peamistel Põhja-Euroopa ehitussektori
turgudel on müük olnud stabiilne. Puitkiudplaadi suurimal turul-Soomel, mis
moodustab käesoleva aasta müügist 29%, kasvas käesoleva aasta 2. kvartali
müügitulu 4%. Müük Taani, Rootsi, Eestisse ja Lätti moodustas 2. kvartali
kogukäibest 45% ning oli madal, samuti oli langust tunda ka kaugematel turgudel,
peamiselt koroonaviiruse negatiiivse mõju tõttu sarnastel turgudel.
Pärnu tehasesse neljanda vahetuse töölelisamise ja masinate täieliku
kasutusvõimsuse rakendamise tulemusel suurenes oluliselt brutomarginaal 15%-lt
2019. aasta 2. kvartalis 31%-ni 2020. aasta 2. kvartalis. Üldhalduskulud olid
2020. aasta 2 kvartalis 6% madalamad võrreldes 2019. aasta 2. kvartaliga. EBITDA
oli 2020. aasta 2. kvartalis positiivne 342 tuhat eurot (14% 2020. aasta 2.
kvartali käibest) võrdluseks 2019 2. kv: EBITDA positiivne 13 tuhat eurot.
KIUDPLAADI MÜÜGITULU GEOGRAAFILISELT
tuh EUR | tuh EUR |
-------------+------------+---------+---------+
II kv 2020 | II kv 2019 | 6k 2020 | 6k 2019 |
----------------------------+------------+---------+---------+
Euroopa Liit 2 115 | 2 236 | 4 856 | 4 329 |
----------------------------+------------+---------+---------+
Venemaa 276 | 425 | 486 | 753 |
----------------------------+------------+---------+---------+
Aasia 22 | 80 | 60 | 243 |
----------------------------+------------+---------+---------+
Aafrika 0 | 156 | 34 | 298 |
----------------------------+------------+---------+---------+
Lähis-Ida 6 | 39 | 45 | 126 |
----------------------------+------------+---------+---------+
Teised 7 | 77 | 36 | 157 |
----------------------------+------------+---------+---------+
Kokku 2 426 | 3 013 | 5 517 | 5 906 |
Skano Furniture: mööbli jaemüük
Mööbli jaemüügi müügitulu oli 2020. aasta 2. kvartalis 8 tuhat eurot (2019.
aasta 2. kvartalis 468 tuhat eurot). Nagu varasemates aruannetes informeeritud
on mööbli jaemüük lõpetaud ning 2020. aasta 2. kvartali müük toimus ladude
tühjendusmüügist.
Mööbli jaemüügitulu geograafiliselt
tuh EUR | tuh EUR | Kaupluste arv |
+----------+----------+-------+-------+----------+ |
|II kv 2020|II kv 2019|6k 2020|6k 2019|30.06.2020|30.06.2019|
-------------------+----------+----------+-------+-------+----------+----------+
Eesti | 8| 364| 55| 621| 0| 3|
-------------------+----------+----------+-------+-------+----------+----------+
Läti | 0| 45| 0| 85| 0| 1|
-------------------+----------+----------+-------+-------+----------+----------+
Leedu | 0| 59| 0| 155| 0| 1|
-------------------+----------+----------+-------+-------+----------+----------+
Kokku (toimivad | | | | | | |
kauplused) | 8| 468| 55| 861| 0| 5|
PÄRNU RIVERSIDE DEVELOPMENT
2020. aasta 2. kvartali renditulu koos kommunaalkulude vahendusega oli 44 tuhat
eurot. Ettevõtte kulud koosnevad tegevuskuludest ning detailplaneeringuga seotud
kuludest, mille tulemusena oli kinnisvarahalduse EBITDA 2020. aasta 2. kvartalis
negatiivne 3 tuhat eurot.
Bilanss ja rahavoogude aruanne
Seisuga 30.06.2020 olid Nordic Fibreboard AS varad kokku 8,1 miljonit eurot
(30.06.2019: 10,3 miljonit eurot). Kontserni kohustised kokku olid seisuga
30.06.2020 6,9 miljonit eurot (30.06.2019: 8,0 miljonit eurot), milledest
Kontsernil oli laenukohustisi 4,5 miljonit eurot seisuga 30.06.2020 (30.06.2019:
4,9 miljonit).
Nõuded ja ettemaksed olid kokku 1,2 miljonit eurot seisuga 30.06.2020
(30.06.2019: 1,8 miljonit eurot). Varud seisuga 30.06.2020 0,4 miljonit eurot
(30.06.2019 1,7 miljonit eurot). Kinnisvarainvesteeringud suurenesid
materiaalsetest põhivaradest ümberklassifitseerimise tõttu 187 tuhandelt eurolt
seisuga 30.06.2019 summale 1,1 miljonit eurot seisuga 30.06.2020. Investeeringud
finantsvaradesse (ehk Trigon Property Development aktsiad) suurenesid 399
tuhandelt eurolt seisuga 30.06.2019 summale 414 tuhat eurot seisuga 30.06.2020.
Materiaalne ja immateriaalne põhivara kokku seisuga 30.06.2020 4,9 miljonit
eurot (6,2 miljonit seisuga of 30.06.2019).
Kontserni äritegevuse tulemuseks 6 kuu jooksul 2020. aastal oli raha sissevool
summas 104 tuhat eurot (2019 6 kuud: raha sissevool summas 207 tuhat eurot).
Investeerimistegevusest tulenevalt toimus 2020. aasta 6 kuu raha väljavool
summas 53 tuhat eurot, võrreldes raha väljavooluga 46 tuhat eurot 2019. aasta 6
kuud. Finantseerimistegevuse tulemuseks oli 2020. aasta 6 kuu raha väljavool
summas 53 tuhat eurot (2019 6 kuud: raha väljavool 145 tuhat eurot). Netorahavoo
tulemuseks oli 2020. aasta 6 kuu raha väljavool summas 2 tuhat eurot (2019 6
kuud: raha sissevool 16 tuhat eurot).
TULEVIKU VÄLJAVAADE
Nordic Fibreboard LTD
Meie püsiklientide tellimuste portfellid Põhja-Euroopa suurimatel turgudel on
endiselt suuremahulised, kuid COVID-19 pandeemiaga seotud jätkuva ebakindluse
tõttu on tulevikku keeruline ennustada.
Pärnu Riverside Development
Jätkatakse Pärnus Suur-Jõe tn 48 oleva kinnisvara haldamist ja arendamist.
Töötajad
Seisuga 30.06.2020 töötas Kontsernis 97 inimest (124 inimest jätkuvatelt
tegevustelt 30.06.2019 seisuga võrreldes). Töötajate keskmine arv oli 2020 2.
kvartalis 116 (2. kvartalis 2019: 121 jätkuvatelt tegevustelt).
2020. aasta esimese kuue kuu jooksul olid tööjõukulud jätkuvatelt tegevustelt
koos maksukuludega kokku 1,1 miljonit eurot (2019 esimese kuue kuu jooksul
jätkuvatelt tegevustelt 1,2 miljonit eurot). Kõigi kontserni ettevõtete s.h.
tütarettevõtted juhatuse liikmetele arvestatud tasud koos maksukuludega olid
kokku 104 tuhat eurot 2020. aasta esimese kuue kuu jooksul ning võrreldes 110
tuhat eurot 2019. aasta esimese kuue kuuga.
Finantssuhtarvud
tuh EUR
| | | |
Kasumiaruanne |II kv 2020|II kv 2019| 6k 2020| 6k 2019
-----------------------------------+----------+----------+----------+----------
Müügitulu | 2 479| 3 480| 5 685| 6 763
-----------------------------------+----------+----------+----------+----------
EBITDA | 347| 52| 37| 64
-----------------------------------+----------+----------+----------+----------
EBITDA rentaablus | 14%| 1%| 1%| 1%
-----------------------------------+----------+----------+----------+----------
Ärikasum/-kahjum | 211| (114)| (250)| (252)
-----------------------------------+----------+----------+----------+----------
Ärirentaablus | 9%| (3%)| (4%)| (4%)
-----------------------------------+----------+----------+----------+----------
Puhaskasum/-kahjum | 194| (179)| (340)| (381)
-----------------------------------+----------+----------+----------+----------
Puhasrentaablus | 8%| (5%)| (6%)| (6%)
| | | |
| | | |
-----------------------------------+----------+----------+----------+----------
Lõpetatud tegevus | 0| (121)| 0| (243)
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
KASUM/KAHJUM KOKKU | 194| (300)| (340)| (624)
-----------------------------------+----------+----------+----------+----------
| | | |
Bilanss |30.06.2020|31.12.2019|30.06.2019|31.12.2018
-----------------------------------+----------+----------+----------+----------
Koguvarad | 8 077| 9 045| 10 281| 10 307
-----------------------------------+----------+----------+----------+----------
Koguvarade puhasrentaablus | 2%| (12%)| (4%)| (3%)
-----------------------------------+----------+----------+----------+----------
Omakapital | 1 222| 1 542| 2 297| 2 901
-----------------------------------+----------+----------+----------+----------
Omakapitali puhasrentaablus | 16%| (73%)| (17%)| (12%)
-----------------------------------+----------+----------+----------+----------
Võlakordaja | 85%| 83%| 78%| 72%
| | | |
| | | |
Aktsia |30.06.2020|31.12.2019|30.06.2019|31.12.2018
-----------------------------------+----------+----------+----------+----------
Aktsia viimane hind (EUR)* | 0,32| 0,41| 0,44| 0,36
-----------------------------------+----------+----------+----------+----------
Puhaskasum aktsia kohta (EUR) | (0,08)| (0,31)| (0,14)| (0,20)
-----------------------------------+----------+----------+----------+----------
Hind-tulu (PE) suhtarv | (4,26)| (1,32)| (3,15)| (1,81)
-----------------------------------+----------+----------+----------+----------
Aktsia raamatupidamisväärtus (EUR)| 0,27| 0,34| 0,51| 0,64
-----------------------------------+----------+----------+----------+----------
Turuhinna ja| | | |
raamatupidamisväärtuse suhe | 1,19| 1,20| 0,85| 0,56
-----------------------------------+----------+----------+----------+----------
Turukapitalisatsioon tuh EUR | 1 449| 1 845| 1 962| 1 611
-----------------------------------+----------+----------+----------+----------
Aktsiate arv tk | 4 499 061| 4 499 061| 4 499 061| 4 499 061
-----------------------------------+----------+----------+----------+----------
EBITDA = ärikasum(-kahjum) + kulum
EBITDA rentaablus = EBITDA / müügitulu
Ärirentaablus = ärikasum(-kahjum) / müügitulu
Puhasrentaablus = puhaskasum(-kahjum) / müügitulu
Koguvarade puhasrentaablus = puhaskasum(-kahjum) / koguvarad
Omakapitali puhasrentaablus = puhaskasum(-kahjum) / omakapital
Võlakordaja = kohustised / koguvarad
Puhaskasum(-kahjum) aktsia kohta = puhaskasum(-kahjum) / aktsiate arv
Hinna-tulu (PE) suhtarv = aktsia viimane hind / puhaskasum(-kahjum) aktsia kohta
Aktsia raamatupidamisväärtus = omakapital / aktsiate arv
Turuhinna ja raamatupidamisväärtuse suhe = aktsia viimane hind / aktsia
raamatupidamisväärtus
Turukapitalisatsioon = aktsia viimane hind * aktsiate arv kokku
*http://www.nasdaqbaltic.com/
Konsolideeritud finantsseisundi aruanne
tuh EUR |30.06.2020|31.12.2019|30.06.2020|31.12.2018
-----------------------------------+----------+----------+----------+----------
Raha ja raha ekvivalendid (Lisa 2)| 5| 7| 70| 54
-----------------------------------+----------+----------+----------+----------
Nõuded ja ettemaksed (Lisa 3) | 1 175| 1 394| 1 764| 1 142
-----------------------------------+----------+----------+----------+----------
Varud (Lisa 4) | 443| 894| 1 679| 2 255
-----------------------------------+----------+----------+----------+----------
Kokku käibevarad | 1 623| 2 296| 3 513| 3 452
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Kinnisvarainvesteeringud (Lisa 5) | 1 125| 1 121| 187| 175
-----------------------------------+----------+----------+----------+----------
Müügiootel finantsvarad (Lisa 8) | 414| 397| 399| 422
-----------------------------------+----------+----------+----------+----------
Materiaalne põhivara (Lisa 6) | 4 902| 5 212| 6 155| 6 223
-----------------------------------+----------+----------+----------+----------
Immateriaalne põhivara (Lisa 7) | 13| 19| 27| 34
-----------------------------------+----------+----------+----------+----------
Kokku põhivarad | 6 454| 6 749| 6 769| 6 855
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Kokku varad | 8 077| 9 045| 10 281| 10 307
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Võlakohustised (Lisas 9) | 4 462| 4 547| 602| 662
-----------------------------------+----------+----------+----------+----------
Võlad ja ettemaksed (Lisas 10) | 2 158| 2 665| 2 874| 2 418
-----------------------------------+----------+----------+----------+----------
Lühiajalised eraldised (Lisa 11) | 9| 20| 10| 15
-----------------------------------+----------+----------+----------+----------
Kokku lühiajalised kohustised | 6 629| 7 232| 3 487| 3 095
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Pikaajalised võlakohustised (Lisas| | | |
9) | 47| 92| 4 288| 4 102
-----------------------------------+----------+----------+----------+----------
Pikaajalised eraldised (Lisa 11) | 179| 179| 210| 210
-----------------------------------+----------+----------+----------+----------
Kokku pikaajalised kohustised | 226| 271| 4 498| 4 311
-----------------------------------+----------+----------+----------+----------
Kokku kohustised | 6 855| 7 503| 7 985| 7 406
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Aktsiakapital (nominaalväärtuses) | | | |
(Lisa 12) | 2 699| 2 699| 2 699| 2 699
-----------------------------------+----------+----------+----------+----------
Ülekurss | 0| 364| 364| 364
-----------------------------------+----------+----------+----------+----------
kohustuslik reservkapital | 0| 288| 288| 288
-----------------------------------+----------+----------+----------+----------
Muud reservid | 104| 84| 65| 45
-----------------------------------+----------+----------+----------+----------
Jaotamata kasum (kahjum) | (1 582)| (1 894)| (1 119)| (496)
-----------------------------------+----------+----------+----------+----------
Kokku omakapital | 1 222| 1 542| 2 297| 2 901
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Kokku kohustised ja omakapital | 8 077| 9 045| 10 281| 10 307
* Konsolideeritud raamatupidamise vahearuande lahutamatuteks osadeks on
aastaaruande lisad lk 15 kuni 31
Konsolideeritud kasumi- ja muu koondkasumiaruanne
tuh EUR |II kv 2020|II kv 2019|6k 2020|6k 2019
-----------------------------------------+----------+----------+-------+-------
Müügitulu (Lisa 14) | 2 479| 3 480| 5 685| 6 763
-----------------------------------------+----------+----------+-------+-------
Müüdud toodangu kulu (Lisa 15) | 1 798| 2 963| 4 617| 5 846
-----------------------------------------+----------+----------+-------+-------
Brutokasum | 681| 517| 1 068| 917
-----------------------------------------+----------+----------+-------+-------
| | | |
-----------------------------------------+----------+----------+-------+-------
Turustuskulud (Lisa 16) | 306| 455| 733| 857
-----------------------------------------+----------+----------+-------+-------
Üldhalduskulud (Lisa 17) | 129| 131| 304| 255
-----------------------------------------+----------+----------+-------+-------
Muud äritulud (Lisa 19) | 1| 0| 2| 22
-----------------------------------------+----------+----------+-------+-------
Muud ärikulud (Lisa 19) | 35| 45| 283| 79
-----------------------------------------+----------+----------+-------+-------
Ärikasum (-kahjum) (Lisa 11) | 212| (114)| (250)| (252)
-----------------------------------------+----------+----------+-------+-------
| | | |
-----------------------------------------+----------+----------+-------+-------
Finantstulud (Lisa 20) | 36| 0| 37| 0
-----------------------------------------+----------+----------+-------+-------
Finantskulud (Lisa 20) | 54| 65| 127| 129
-----------------------------------------+----------+----------+-------+-------
KASUM/KAHJUM ENNE TULUMAKSUSTAMIST | 194| (179)| (340)| (381)
-----------------------------------------+----------+----------+-------+-------
| | | |
-----------------------------------------+----------+----------+-------+-------
ARUANDEAASTA PUHASKASUM/KAHJUM | | | |
JÄTKUVATELT TEGEVUSTELT | 194| (179)| (340)| (381)
-----------------------------------------+----------+----------+-------+-------
| | | |
-----------------------------------------+----------+----------+-------+-------
Aruandeperioodi puhaskasum/kahjum | | | |
lõpetatud tegevustelt | 0| (121)| 0| (243)
-----------------------------------------+----------+----------+-------+-------
ARUANDEPERIOODI PUHASKASUM/KAHJUM KOKKU | 194| (300)| (340)| (624)
-----------------------------------------+----------+----------+-------+-------
| | | |
-----------------------------------------+----------+----------+-------+-------
KOKKU ARUANDEPERIOODI KOONDKASUM/KAHJUM | 194| (300)| (340)| (624)
-----------------------------------------+----------+----------+-------+-------
| | | |
-----------------------------------------+----------+----------+-------+-------
Tava perioodi puhaskasum/kahjum aktsia | | | |
kohta (Lisa 13) | 0,04| (0,07)| (0,08)| (0,14)
-----------------------------------------+----------+----------+-------+-------
Lahustatud perioodi puhaskasum/kahjum | | | |
aktsia kohta (Lisa 13) | 0,04| (0,07)| (0,08)| (0,14)
* Konsolideeritud raamatupidamise vahearuande lahutamatuteks osadeks on
aastaaruande lisad lk 15 kuni 31.
Konsolideeritud omakapitali muutuste aruanne
| | | kohustislik | Muud |Jaotamata|
tuh EUR |Aktsiakapital|Ülekurss|reservkapital|reservid| kasum |Kokku
-----------------+--------------+--------+--------------+--------+---------+-----
| | | | | |
-----------------+--------------+--------+--------------+--------+---------+-----
Saldo 31.12.2018| 2 699| 364| 288| 45| (496)|2 901
-----------------+--------------+--------+--------------+--------+---------+-----
| | | | | |
-----------------+--------------+--------+--------------+--------+---------+-----
Aktsiaoptsioonid| | | | | |
6k 2019 | 0| 0| 0| 20| 0| 20
-----------------+--------------+--------+--------------+--------+---------+-----
Aruandeaasta | | | | | |
puhaskahjum | | | | | |
6k 2019 | 0| 0| 0| 0| (624)|(624)
-----------------+--------------+--------+--------------+--------+---------+-----
Muu koondkahjum | | | | | |
6k 2019 | 0| 0| 0| 0| 0| 0
-----------------+--------------+--------+--------------+--------+---------+-----
2019 6k | | | | | |
koondkahjum | 0| 0| 0| 0| (624)|(624)
-----------------+--------------+--------+--------------+--------+---------+-----
Saldo 30.06.2019| 2 699| 364| 288| 65| (1 119)|2 297
-----------------+--------------+--------+--------------+--------+---------+-----
| | | | | |
-----------------+--------------+--------+--------------+--------+---------+-----
Saldo 31.12.2019| 2 699| 364| 288| 84| (1 894)|1 542
-----------------+--------------+--------+--------------+--------+---------+-----
| | | | | |
-----------------+--------------+--------+--------------+--------+---------+-----
Aktsiaoptsioonid| | | | | |
6k 2020 | 0| 0| 0| 20| 0| 20
-----------------+--------------+--------+--------------+--------+---------+-----
Muud muudatused | 0| (364)| (288)| 0| 652| 0
-----------------+--------------+--------+--------------+--------+---------+-----
Aruandeaasta | | | | | |
puhaskahjum | | | | | |
6k 2020 | 0| 0| 0| 0| (340)|(340)
-----------------+--------------+--------+--------------+--------+---------+-----
Muu koondkahjum | | | | | |
6k 2020 | 0| 0| 0| 0| 0| 0
-----------------+--------------+--------+--------------+--------+---------+-----
2020 6k | | | | | |
koondkahjum | 0| 0| 0| 0| (340)|(340)
-----------------+--------------+--------+--------------+--------+---------+-----
Saldo 30.06.2020| 2 699| 0| 0| 104| (1 582)|1 222
+--------------+--------+--------------+--------+---------+-----
* Konsolideeritud raamatupidamise vahearuande lahutamatuteks osadeks on
aastaaruande lisad lk 15 kuni 31.
TORFINN LOSVIK
Juhatuse esimees
+372 569 90 988
[email protected]
Teate sisu inglise keeles
Pealkiri
Unaudited financial results of Nordic Fibreboard AS for the second quarter of 2020
Teade
Management report
Consolidated net sales for Q2 2020 were EUR 2.48 million from continuing
operations (Q2 2019: EUR 3.48 million from continuing operations). The sales
revenue of the Group`s main business segment, fibreboard, for Q2 2020 were EUR
2.43 million (Q2 2019: EUR 3.01 million). The main reason for this drop in sales
was due to the closure of the Püssi factory in March 2020, which came about as a
result of the loss of orders from customers within the display board industry
caused by the COVID-19 pandemic. Furniture retail sales revenue for Q2 2020 were
EUR 8 thousand, the decrease in sales (compared to Q2 2019: EUR 468 thousand) was
due to the Group exiting the furniture retail segment earlier this year, with
some remaining stock sales taking place during Q2 2020. Rental and property
development sales, includes the resale of utilities, in Q2 2020 were EUR 44
thousand (Q2 2019: EUR 16 thousand). Revenue from rental and property development
increased due to more tenants being secured for the premises in Suur-Jõe 48,
Pärnu.
Group EBITDA for Q2 2020 was positive EUR 347 thousand from continuing operations
(Q2 2019: EUR 52 thousand), of which the fibreboard division EBITDA was EUR 342
thousand (Q2 2019: EUR 13 thousand). After depreciation and interest, group net
profit for Q2 2020 was EUR 194 thousand from continuing operations (Q2 2019 net
loss of EUR 179 thousand from continuing operations).
The Group`s consolidated EBITDA has improved compared to the same period last
year, the main reason being the much improved performance of the fibreboard
division. The closure of the Püssi fibreboard factory enabled us to switch the
Püssi factory construction sector orders to our Pärnu factory, and we started a
4(th) shift in Pärnu in April 2020 as a result thereof. The Pärnu factory is now
running all the time, except for a one-shift maintenance stop every month. This
has led to increased machine utilisation, and gross margin for Fibreboard has
therefore increased substantially, being 31% in Q2 2020 (from being 15% in Q2
2019).
Divisional review
Revenue by business segments
EUR thousand | EUR thousand |
----------+---------+---------+---------+
Q2 2020 | Q2 2019 6M 2020 | 6M 2019
---------------------------------------------+-------------------+----------
Continued operations | |
---------------------------------------------+---------+---------+---------+
Fibreboards production and sales 2,426 | 3,013 | 5,517 | 5,906 |
---------------------------------------------+---------+---------+---------+
Furniture retail 8 | 468 | 55 | 861 |
---------------------------------------------+---------+---------+---------+
Real Estate Management 44 | 16 | 113 | 16 |
---------------------------------------------+---------+---------+---------+
Group transactions 0 | (18) | (0) | (20) |
---------------------------------------------+---------+---------+---------+
TOTAL from continued operations 2,479 | 3,480 | 5,685 | 6,763 |
| | | |
---------------------------------------------+---------+---------+---------+
Discontinued operations 0 | 408 | 0 | 954 |
---------------------------------------------+---------+---------+---------+
---------------------------------------------+-------------------+----------
TOTAL 2,479 | 3,888 5,685 | 7,717
---------------------------------------------+-------------------+----------
Profit by business segments
EUR thousand Q2 2020|Q2 2019 6M 2020|6M 2019
-----------------------------------------------------+---------------+-------
Continued operations | |
-----------------------------------------------------+---------------+-------
EBITDA by business units: | |
-----------------------------------------------------+---------------+-------
Fibreboards production and sales 342| 13 88| 36
-----------------------------------------------------+---------------+-------
Furniture retail 8| (16) (39)| (38)
-----------------------------------------------------+---------------+-------
Real Estate Management (1)| 16 (3)| 16
-----------------------------------------------------+---------------+-------
Group transactions (2)| 39 (9)| 50
-----------------------------------------------------+---------------+-------
TOTAL EBITDA 347| 52 37| 64
-----------------------------------------------------+---------------+-------
Depreciation 135| 166 287| 316
-----------------------------------------------------+---------------+-------
TOTAL OPERATING PROFIT/ LOSS 212| (114) (250)| (252)
-----------------------------------------------------+---------------+-------
Net financial costs 18| 65 90| 129
-----------------------------------------------------+---------------+-------
Income tax 0| 0 0| 0
-----------------------------------------------------+---------------+-------
NET PROFIT/ LOSS from continued operations 194| (179) (340)| (381)
| |
-----------------------------------------------------+-------+-------+-------
Net profit/loss from discontinued operations 0| (121)| 0| (243)
-----------------------------------------------------+-------+-------+-------
-----------------------------------------------------+---------------+-------
TOTAL 194| (300) (340)| (624)
-----------------------------------------------------+---------------+-------
Nordic Fibreboard Ltd
Fibreboard sales in Q2 2020 were EUR 2.43 million (2019: EUR 3.01 million). We sold
our products to customers in 18 countries during Q2 2020. The main reason for
the drop in sales was the loss of display board customers, boards for this
sector was produced in the Püssi factory, which we closed in March 2020.
However, sales to our customers within the construction sector in our main
northern European markets have been stable. Finland, our largest market with
29% of our fibreboard sales this year, were up 4% in Q2. Sales to Denmark,
Sweden, Estonia, and Latvia, together accounting for 45% of sales in Q2, were
flat, while we recorded sales decline in markets further afield mainly due to
the negative effect in such markets caused by the corona virus.
By adding a 4(th) shift in our Pärnu production, and thus achieving full machine
utilisation, has led to a strong increase in Fibreboard's gross margin from
being 15% in Q2 2019 to now reaching 31% in Q2 2020. Overhead costs for Q2 2020
was down 6% compared to Q2 2019, and EBITDA for Q2 2020 was thus positive EUR 342
thousand (14% of sales in Q2 2020), compared Q2 2019 EBITDA positive EUR 13
thousand.
FIBREBOARD SALES BY GEOGRAPHICAL SEGMENTS
EUR thousand | EUR thousand
----------+---------+---------+----------
Q2 2020 | Q2 2019 6M 2020 | 6M 2019
---------------------------+---------+---------+---------+
European Union 2,115 | 2,236 | 4,856 | 4,329 |
---------------------------+---------+---------+---------+
Russia 276 | 425 | 486 | 753 |
---------------------------+---------+---------+---------+
Asia 22 | 80 | 60 | 243 |
---------------------------+---------+---------+---------+
Africa 0 | 156 | 34 | 298 |
---------------------------+---------+---------+---------+
Middle East 6 | 39 | 45 | 126 |
---------------------------+---------+---------+---------+
Other 7 | 77 | 36 | 157 |
---------------------------+---------+---------+---------+
TOTAL 2,426 | 3,013 | 5,517 | 5,906 |
SKANO FURNITURE: RETAIL SALES
Furniture retail sales in Q2 2020 were EUR 8 thousand (2019 Q2 EUR 468 thousand).
However, this business has been closed down, as earlier informed, and the sales
recorded in Q2 2020 was from some remaining stock.
RETAIL SALES BY COUNTRIES
| EUR thousand | EUR thousand | Number of stores |
----------------------+-------+-------+-------+-------+----------+ |
Q2 2020|Q2 2019|6M 2020|6M 2019|30.06.2020|30.06.2019|
----------------------+-------+-------+-------+-------+----------+----------+
Estonia | 8| 364| 55| 621| 0| 3|
----------------------+-------+-------+-------+-------+----------+----------+
Latvia | 0| 45| 0| 85| 0| 1|
----------------------+-------+-------+-------+-------+----------+----------+
Lithuania | 0| 59| 0| 155| 0| 1|
----------------------+-------+-------+-------+-------+----------+----------+
TOTAL (ongoing shops)| 8| 468| 55| 861| 0| 5|
PÄRNU RIVERSIDE DEVELOPMENT
Rental income, including the resale of utilities, was EUR 44 thousand in Q2 2020.
We incurred operational costs and costs associated with the ongoing detail
planning application, which resulted in negative EBITDA of EUR 3 thousand for Q2
2020.
STATEMENT OF FINANCIAL POSITION AND CASH FLOW STATEMENT
As of 30.06.2020 the total assets of Nordic Fibreboard AS were EUR 8.1 million
(30.06.2019: EUR 10.3 million). The liabilities of the company as of 30.06.2020
were EUR 6.9 million (30.06.2019: EUR 8.0 million), of which Group has borrowings of
EUR 4.5 million as at 30.06.2020 (30.06.2019: EUR 4.9 million).
Receivables and prepayments amounted to EUR 1.2 million as at 30.06.2020
(30.06.2019: EUR 1.8 million). Inventories were EUR 0.4 million as of 30.06.2020
(30.06.2019: EUR 1.7 million). Investment property increased due to
reclassification from EUR 187 thousand as at 30.06.2019 to EUR 1.1 million as at
30.06.2020. Financial investments (i.e. Trigon Property Development shares)
increased from EUR 399 thousand as at 30.06.2019 to EUR 414 thousand as at
30.06.2020. Property, plant, equipment and intangibles were EUR 4.9 million as of
30.06.2020 (EUR 6.2 million as of 30.06.2019).
During 2020 6M, the Group's cash flows from operating activities totalled cash
inflow of EUR 104 thousand (2019 6M: cash outflow EUR 207 thousand). Investment
activities resulted in cash outflows in amount of EUR 53 thousand during 2020 6M,
compared to outflows in amount EUR 46 thousand during 6M 2019. Financing
activities also resulted in cash outflows of EUR 53 thousand during 6M 2020 (2019
6M: cash outflow EUR 145 thousand). Net cash effect during 2020 6M showed cash
outflows of EUR 2 thousand, (2019 6M: cash inflows EUR 16 thousand).
Outlook
Nordic Fibreboard LTD
The order book from our traditional customers in our largest markets in northern
Europe remains strong, although it is very difficult to predict what will happen
in the future due to the continuing uncertainty surrounding the COVID-19
pandemic.
Pärnu Riverside Development
We will continue to manage and develop the property on Suur-Jõe Street 48,
Pärnu.
People
On the 30th of June 2020, the Group employed 97 people (compared to 124 people
as of 30.06.2019 from continuing operations). The average number of personnel in
Q2 2020 was 116 (Q2 2018: 121 from continuing operations).
For six months of 2020, wages and salaries with taxes amounted to EUR 1.1 million
from continuing operations (six months 2019: EUR 1.2 million from continuing
operations). Payments made to management board members of all group companies
including all subsidiaries with relevant taxes were EUR 104 thousand during
6M 2020 and EUR 110 thousand during 6M 2019.
FINANCIAL HIGHLIGHTS
EUR thousand
| | | |
Income statement | Q2 2020| Q2 2019| 6M 2020| 6M 2019
----------------------------------+----------+----------+----------+----------
Revenue | 2,479| 3,480| 5,685| 6,763
----------------------------------+----------+----------+----------+----------
EBITDA | 347| 52| 37| 64
----------------------------------+----------+----------+----------+----------
EBITDA margin | 14%| 1%| 1%| 1%
----------------------------------+----------+----------+----------+----------
Operating profit | 211| (114)| (250)| (252)
----------------------------------+----------+----------+----------+----------
Operating margin | 9%| (3%)| (4%)| (4%)
----------------------------------+----------+----------+----------+----------
Net profit | 194| (179)| (340)| (381)
----------------------------------+----------+----------+----------+----------
Net margin | 8%| (5%)| (6%)| (6%)
| | | |
| | | |
----------------------------------+----------+----------+----------+----------
Discontinued operations | 0| (121)| 0| (243)
----------------------------------+----------+----------+----------+----------
| | | |
----------------------------------+----------+----------+----------+----------
TOTAL NET PROFIT | 194| (300)| (340)| (624)
----------------------------------+----------+----------+----------+----------
| | | |
Statement of financial position |30.06.2020|31.12.2019|30.06.2019|31.12.2018
----------------------------------+----------+----------+----------+----------
Total assets | 8,077| 9,045| 10,281| 10,307
----------------------------------+----------+----------+----------+----------
Return on assets | 2%| (12%)| (4%)| (3%)
----------------------------------+----------+----------+----------+----------
Equity | 1,222| 1,542| 2,297| 2,901
----------------------------------+----------+----------+----------+----------
Return on equity | 16%| (73%)| (17%)| (12%)
----------------------------------+----------+----------+----------+----------
Debt-to-equity ratio | 85%| 83%| 78%| 72%
| | | |
| | | |
Share |30.06.2020|31.12.2019|30.06.2019|31.12.2018
----------------------------------+----------+----------+----------+----------
Last Price* | 0.32| 0.41| 0.44| 0.36
----------------------------------+----------+----------+----------+----------
Earnings per share | (0.08)| (0.31)| (0.14)| (0.20)
----------------------------------+----------+----------+----------+----------
Price-earnings ratio | (4.26)| (1.32)| (3.15)| (1.81)
----------------------------------+----------+----------+----------+----------
Book value of a share | 0.27| 0.34| 0.51| 0.64
----------------------------------+----------+----------+----------+----------
Market to book ratio | 1.19| 1.20| 0.85| 0.56
----------------------------------+----------+----------+----------+----------
Market capitalization, EUR thousand| 1,449| 1,845| 1,962| 1,611
----------------------------------+----------+----------+----------+----------
Number of shares, piece | 4,499,061| 4,499,061| 4,499,061| 4,499,061
EBITDA = Earnings before interest, taxes, depreciation and amortization
EBITDA margin = EBITDA / Revenue
Operating margin = Operating profit / Revenue
Net margin = Net profit / Revenue
Return on assets = Net profit / Total assets
Return on equity = Net profit / Equity
Debt-to-equity ratio = Liabilities / Total assets
Earnings per share = Net profit / Total shares
Price-earnings ratio = Last price / Earnings per share
Book value of a share = Equity / Total shares
Market to book ratio = Last price / Book value of a share
Market capitalization = Last price * Total number of shares
*http://www.nasdaqbaltic.com/
Consolidated statement of financial positions
EUR thousand |30.06.2020|31.12.2019|30.06.2019|31.12.2018
-----------------------------------+----------+----------+----------+----------
Cash and cash equivalents (Note 2)| 5| 7| 70| 54
-----------------------------------+----------+----------+----------+----------
Receivables and prepayments (Note | | | |
3) | 1,175| 1,394| 1,764| 1,142
-----------------------------------+----------+----------+----------+----------
Inventories (Note 4) | 443| 894| 1,679| 2,255
-----------------------------------+----------+----------+----------+----------
Total current assets | 1,623| 2,296| 3,513| 3,452
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Investment property (Note 5) | 1,125| 1,121| 187| 175
-----------------------------------+----------+----------+----------+----------
Available-for-sale financial | | | |
assets (Note 8) | 414| 397| 399| 422
-----------------------------------+----------+----------+----------+----------
Property, plant and equipment | | | |
(Note 6) | 4,902| 5,212| 6,155| 6,223
-----------------------------------+----------+----------+----------+----------
Intangible assets (Note 7) | 13| 19| 27| 34
-----------------------------------+----------+----------+----------+----------
Total non-current assets | 6,454| 6,749| 6,769| 6,855
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
TOTAL ASSETS | 8,077| 9,045| 10,281| 10,307
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Borrowings (Notes 9) | 4,462| 4,547| 602| 662
-----------------------------------+----------+----------+----------+----------
Payables and prepayments (Notes | | | |
10) | 2,158| 2,665| 2,874| 2,418
-----------------------------------+----------+----------+----------+----------
Short-term provisions (Note 11) | 9| 20| 10| 15
-----------------------------------+----------+----------+----------+----------
Total current liabilities | 6,629| 7,232| 3,487| 3,095
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Long-term borrowings (Notes 9) | 47| 92| 4,288| 4,102
-----------------------------------+----------+----------+----------+----------
Long-term provisions (Note 11) | 179| 179| 210| 210
-----------------------------------+----------+----------+----------+----------
Total non-current liabilities | 226| 271| 4,498| 4,311
-----------------------------------+----------+----------+----------+----------
Total liabilities | 6,855| 7,503| 7,985| 7,406
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
Share capital (at nominal value) | | | |
(Note 12) | 2,699| 2,699| 2,699| 2,699
-----------------------------------+----------+----------+----------+----------
Share premium | 0| 364| 364| 364
-----------------------------------+----------+----------+----------+----------
Statutory reserve capital | 0| 288| 288| 288
-----------------------------------+----------+----------+----------+----------
Other reserves | 104| 84| 65| 45
-----------------------------------+----------+----------+----------+----------
Unrealised currency differences | 0| 0| 0| 0
-----------------------------------+----------+----------+----------+----------
Retained earnings (loss) | (1,582)| (1,894)| (1,119)| (496)
-----------------------------------+----------+----------+----------+----------
Total equity | 1,222| 1,542| 2,297| 2,901
-----------------------------------+----------+----------+----------+----------
| | | |
-----------------------------------+----------+----------+----------+----------
TOTAL LIABILITIES AND EQUITY | 8,077| 9,045| 10,281| 10,307
*The notes to the financial statements presented on pages 15 to 31 are an
integral part of these consolidated financial statements.
Consolidated statement of profit or loss and other comprehensive income
EUR thousand |Q2 2020|Q2 2019|6M 2020|6M 2019
-----------------------------------------------+-------+-------+-------+-------
Revenue (Note 14) | 2,479| 3,480| 5,685| 6,763
-----------------------------------------------+-------+-------+-------+-------
Cost of goods sold (Note 15) | 1,798| 2,963| 4,617| 5,846
-----------------------------------------------+-------+-------+-------+-------
Gross profit | 681| 517| 1 068| 917
-----------------------------------------------+-------+-------+-------+-------
| | | |
-----------------------------------------------+-------+-------+-------+-------
Distribution costs (Note 16) | 306| 455| 733| 857
-----------------------------------------------+-------+-------+-------+-------
Administrative expenses (Note 17) | 129| 131| 304| 255
-----------------------------------------------+-------+-------+-------+-------
Other operating income (Note 19) | 1| 0| 2| 22
-----------------------------------------------+-------+-------+-------+-------
Other operating expenses (Note 19) | 35| 45| 283| 79
-----------------------------------------------+-------+-------+-------+-------
Operating profit (loss) | 212| (114)| (250)| (252)
-----------------------------------------------+-------+-------+-------+-------
| | | |
-----------------------------------------------+-------+-------+-------+-------
Finance income (Note 20) | 36| 0| 37| 0
-----------------------------------------------+-------+-------+-------+-------
Finance costs (Note 20) | 54| 65| 127| 129
-----------------------------------------------+-------+-------+-------+-------
PROFIT (LOSS) BEFORE INCOME TAX | 194| (179)| (340)| (381)
-----------------------------------------------+-------+-------+-------+-------
| | | |
-----------------------------------------------+-------+-------+-------+-------
NET PROFIT (LOSS) FOR THE PERIOD FROM | | | |
CONTINUING OPERATIONS | 194| (179)| (340)| (381)
-----------------------------------------------+-------+-------+-------+-------
| | | |
-----------------------------------------------+-------+-------+-------+-------
Net profit (loss) for the period from | | | |
discontinuing operations | 0| (121)| (0)| (243)
-----------------------------------------------+-------+-------+-------+-------
NET PROFIT (LOSS) FOR THE PERIOD | 194| (300)| (340)| (624)
-----------------------------------------------+-------+-------+-------+-------
| | | |
-----------------------------------------------+-------+-------+-------+-------
TOTAL COMPREHENSIVE PROFIT (LOSS) FOR THE | | | |
PERIOD | 194| (300)| (340)| (624)
-----------------------------------------------+-------+-------+-------+-------
| | | |
-----------------------------------------------+-------+-------+-------+-------
Basic earnings per share (Note 13) | 0.04| (0.07)| (0.08)| (0.14)
-----------------------------------------------+-------+-------+-------+-------
Diluted earnings per share (Note 13) | 0.04| (0.07)| (0.08)| (0.14)
*The notes to the financial statements presented on pages 15 to 31 are an
integral part of these consolidated financial statements.
Consolidated statement of changes in equity
| | | Statutory | | |
| Share | Share | reserve | Other | Retained |
EUR thousand | capital | premium | capital | reserves | earnings |Total
-----------------+----------+----------+-----------+----------+----------+-----
| | | | | |
-----------------+----------+----------+-----------+----------+----------+-----
Balance at | | | | | |
31.12.2018 | 2,699| 364| 288| 45| (496)|2 901
-----------------+----------+----------+-----------+----------+----------+-----
| | | | | |
-----------------+----------+----------+-----------+----------+----------+-----
Share options | | | | | |
6M 2019 | 0| 0| 0| 20| 0| 20
-----------------+----------+----------+-----------+----------+----------+-----
Net loss for | | | | | |
6M 2019 | 0| 0| 0| 0| (624)|(624)
-----------------+----------+----------+-----------+----------+----------+-----
Other | | | | | |
comprehensive | | | | | |
income for | | | | | |
6M 2019 | 0| 0| 0| 0| 0| 0
-----------------+----------+----------+-----------+----------+----------+-----
Total | | | | | |
comprehensive | | | | | |
loss for 6M 2019| 0| 0| 0| 0| (624)|(624)
-----------------+----------+----------+-----------+----------+----------+-----
Balance at | | | | | |
30.06.2019 | 2,699| 364| 288| 65| (1,119)|2,297
-----------------+----------+----------+-----------+----------+----------+-----
| | | | | |
-----------------+----------+----------+-----------+----------+----------+-----
Balance at | | | | | |
31.12.2019 | 2,699| 364| 288| 84| (1,894)|1,542
-----------------+----------+----------+-----------+----------+----------+-----
| | | | | |
-----------------+----------+----------+-----------+----------+----------+-----
Share options | | | | | |
6M 2020 | 0| 0| 0| 20| 0| 20
-----------------+----------+----------+-----------+----------+----------+-----
Other changes | 0| (364)| (288)| 0| 652| 0
-----------------+----------+----------+-----------+----------+----------+-----
Net loss for | | | | | |
6M 2020 | 0| 0| 0| 0| (340)|(340)
-----------------+----------+----------+-----------+----------+----------+-----
Other | | | | | |
comprehensive | | | | | |
income for | | | | | |
6M 2020 | 0| 0| 0| 0| 0| 0
-----------------+----------+----------+-----------+----------+----------+-----
Total | | | | | |
comprehensive | | | | | |
loss for 6M 2020| 0| 0| 0| 0| (340)|(340)
-----------------+----------+----------+-----------+----------+----------+-----
Balance at | | | | | |
30.06.2020 | 2,699| 0| 0| 104| (1,582)|1,222
+----------+----------+-----------+----------+----------+-----
*The notes to the financial statements presented on pages 15 to 31 are an
integral part of these consolidated financial statements.
TORFINN LOSVIK
Chairman of the board
Phone: +372 56 99 0988
[email protected]