Selected Financial Indicators
Summarized selected financial indicators of the
in thousands of EUR | 03m 2020 | 03m 2019 | Change |
Revenue | 11 546 | 13 820 | -16.5% |
Gross Profit | 7 146 | 6 455 | 10.7% |
Operating profit | 3 152 | 2 322 | 35.7% |
EBITDA | 4 248 | 3 158 | 34.5% |
Net profit (loss) for the period | -1 440 | 3 080 | -146.8% |
Net profit (loss) attributable equity holders of the Parent company | -1 406 | 3 098 | -145.4% |
Earnings per share (EUR) | -0.04 | 0.09 | -144.4% |
Operating cash flow for the period | 1 876 | 3 242 | -42.1% |
in thousands of EUR | Change | ||
Total assets | 41 682 | 46 309 | -10.0% |
Total current assets | 25 866 | 27 123 | -4.6% |
Total equity attributable to equity holders of the Parent company | 22 341 | 26 324 | -15.1% |
Cash and cash equivalents | 6 350 | 5 152 | 23.3% |
Margin analysis, % | 03m 2020 | 03m 2019 | Change |
Gross profit | 61,9 | 46.7 | 32.5% |
Operating profit | 27.3 | 16.8 | 62.5% |
EBITDA | 36.8 | 22.9 | 60.7% |
Net profit (loss) | -12.5 | 22.3 | -156.0% |
Net profit (loss) attributable to equity holders of the Parent company | -12.2 | 22.4 | -154.5% |
Financial ratios, % | Change | ||
ROA | 13.5 | 22.2 | -39.2% |
ROE | 24.2 | 38.9 | -37.8% |
Price to earnings ratio (P/E) | 8.2 | 7.3 | 12.3% |
Current ratio | 2.6 | 2.7 | -3.7% |
Quick ratio | 0.9 | 0.8 | 12.5% |
Financial performance
The Group`s sales amounted to 11
The Group’s gross profit during Q1 of 2020 amounted to 7
Consolidated operating profit for Q1 of 2020 amounted to 3
Reported consolidated net loss attributable to equity holders of the Parent company for Q1 of 2020 amounted to -1
Financial position
As of
Trade and other receivables decreased by
Equity attributable to equity holders of the Parent company decreased by 3
Investments
During Q1 of 2020 the Group’s investments into property, plant and equipment totalled
Personnel
As of
Total salaries and related taxes during Q1 of 2020 amounted to 3
Consolidated Statement of Financial Position
in thousands of EUR | Note | ||
ASSETS | |||
Current assets | |||
Cash and cash equivalents | 6 350 | 5 152 | |
Current loans granted | 2 | 2 | |
Trade and other receivables | 2 | 2 292 | 2 610 |
Inventories | 3 | 17 222 | 19 359 |
Total current assets | 25 866 | 27 123 | |
Non-current assets | |||
Long-term receivables | 265 | 334 | |
Investments in associates | 63 | 82 | |
Available-for-sale investments | 262 | 321 | |
Deferred tax asset | 1 589 | 905 | |
Intangible assets | 374 | 423 | |
Investment property | 705 | 869 | |
Property, plant and equipment | 4 | 12 558 | 16 252 |
Total non-current assets | 15 816 | 19 186 | |
TOTAL ASSETS | 41 682 | 46 309 | |
LIABILITIES AND EQUITY | |||
Current liabilities | |||
Short-term finance lease obligations | 1 614 | 2 362 | |
Trade and other payables | 5 | 6 909 | 6 899 |
Tax liabilities | 1 352 | 889 | |
Total current liabilities | 9 875 | 10 150 | |
Non-current liabilities | |||
Deferred tax liability | 0 | 14 | |
Long-term finance lease obligations | 6 116 | 6 333 | |
Long-term provisions | 50 | 61 | |
Total non-current liabilities | 6 166 | 6 408 | |
Total liabilities | 16 041 | 16 558 | |
Equity | |||
Share capital | 6 | 3 600 | 3 600 |
Share premium | 4 967 | 4 967 | |
Statutory reserve capital | 1 306 | 1 306 | |
Revaluation reserve | 355 | 355 | |
Unrealised exchange rate differences | -18 274 | -15 697 | |
Retained earnings | 30 387 | 31 793 | |
Total equity attributable to equity holders of the Parent company | 22 341 | 26 324 | |
Non-controlling interest | 3 300 | 3 427 | |
Total equity | 25 641 | 29 751 | |
TOTAL EQUITY AND LIABILITIES | 41 682 | 46 309 |
Consolidated Income Statement
in thousands of EUR | Note | 1Q 2020 | 1Q 2019 |
Revenue | 8 | 11 546 | 13 820 |
Cost of goods sold | -4 400 | -7 365 | |
Gross Profit | 7 146 | 6 455 | |
Distribution expenses | -2 734 | -2 905 | |
Administrative expenses | -1 122 | -1 092 | |
Other operating income | 59 | 66 | |
Other operating expenses | -197 | -202 | |
Operating profit | 3 152 | 2 322 | |
Currency exchange income/(expense) | -4 730 | 2 031 | |
Other finance income/(expenses) | -125 | -110 | |
Net financial income (loss) | -4 855 | 1 921 | |
Profit (loss) from associates using equity method | 0 | 1 | |
Profit (loss) before tax | -1 703 | 4 244 | |
Income tax expense | 263 | -1 164 | |
Profit (loss) for the period | -1 440 | 3 080 | |
Attributable to : | |||
Equity holders of the Parent company | -1 406 | 3 098 | |
Non-controlling interest | -34 | -18 | |
Earnings per share from profit attributable to equity holders of the Parent company, both basic and diluted (EUR) | 7 | -0,04 | 0,09 |
Consolidated Statement of Comprehensive Income
in thousands of EUR | Note | 1Q 2020 | 1Q 2019 |
Profit (loss) for the period | -1 440 | 3 080 | |
Other comprehensive income (loss) that will be reclassified to profit or loss in subsequent periods | -2 225 | -171 | |
Attributable to : | |||
Equity holders of the Parent company | -2 577 | -283 | |
Non-controlling interest | 352 | 112 | |
Total comprehensive income (loss) for the period | -3 665 | 2 909 | |
Attributable to : | |||
Equity holders of the Parent company | -3 983 | 2 815 | |
Non-controlling interest | 318 | 94 |
Consolidated Statement of Cash Flows
in thousands of EUR | 03m 2020 | 03m 2019 |
Cash flow from operating activities | ||
Profit (loss) for the period | -1 440 | 3 080 |
Adjustments for: | ||
Depreciation and amortization of non-current assets | 1 096 | 836 |
Share of profit of equity accounted investees | 0 | -1 |
(Gains)/ losses on the sale of property, plant and equipment | 2 | 11 |
Net finance income / costs | 305 | -1 921 |
Provision for inventories | 1 | 0 |
Provision for long-term benefits | 0 | 2 |
Income tax expense | -263 | 1 164 |
Change in inventories | 2 137 | -1 298 |
Change in trade and other receivables | 243 | -1 484 |
Change in trade and other payables | -86 | 1 635 |
Change in finance lease obligations | 0 | 1 377 |
Income tax paid | -119 | -159 |
Net cash from operating activities | 1 876 | 3 242 |
Cash flow from investing activities | ||
Interest received | 5 | 3 |
Proceeds from disposal of property, plant and equipment | 28 | 36 |
Proceeds from repayments of loans granted | 0 | 6 |
Acquisition of property, plant and equipment | -96 | -562 |
Acquisition of intangible assets | -50 | -75 |
Acquisition of shares of a subsidiary | -26 | 0 |
Net cash used in/from investing activities | -139 | -592 |
Cash flow from financing activities | ||
Repayment of finance lease | -682 | -657 |
Interest paid on finance lease | -136 | 0 |
Reduction of share capital | 0 | -7 200 |
Net cash used in/ from financing activities | -818 | -7 857 |
Increase in cash and cash equivalents | 919 | -5 207 |
Cash and cash equivalents at the beginning of period | 5 152 | 13 603 |
Effect of exchange rate fluctuations on cash held | 279 | -46 |
Cash and cash equivalents at the end of period | 6 350 | 8 350 |
Jarek Särgava
Member of the Board
Phone: +372 6845 000
Email: info@silvanofashon.com
Attachment
- SFG consolidated interim financial report for Q1 of 2020
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