Selected Financial Indicators
Summarized selected financial indicators of the Group for 6 months of 2021 compared to 6 months of 2020 and
in thousands of EUR | 06m 2021 | 06m 2020 | Change |
Revenue | 23 225 | 17 731 | 31.0% |
Gross Profit | 13 661 | 10 575 | 29.2% |
Operating profit | 7 941 | 3 983 | 99.4% |
EBITDA | 9 533 | 5 931 | 60.7% |
Net profit for the period | 6 696 | 870 | 669.7% |
Net profit attributable equity holders of the Parent company | 6 031 | 745 | 709.5% |
Earnings per share (EUR) | 0,17 | 0,02 | 750.0% |
Operating cash flow for the period | 8 055 | 2 742 | 193.8% |
in thousands of EUR | Change | ||
Total assets | 49 446 | 42 256 | 17.0% |
Total current assets | 36 381 | 29 597 | 22.9% |
Total equity attributable to equity holders of the Parent company | 30 497 | 24 504 | 24.5% |
Cash and cash equivalents | 14 022 | 8 980 | 56.1% |
Margin analysis, % | 06m 2021 | 06m 2020 | Change |
Gross profit | 58.8 | 59.6 | -1.3% |
Operating profit | 34.2 | 22.5 | 52.0% |
EBITDA | 41.0 | 33.4 | 22.8% |
Net profit | 28.8 | 4.9 | 487.8% |
Net profit attributable to equity holders of the Parent company | 26.0 | 4.2 | 519.0% |
Financial ratios, % | Change | ||
ROA | 23.7 | 3.2 | 640.6% |
ROE | 40.2 | 5.6 | 617.9% |
Price to earnings ratio (P/E) | 5.5 | 41.7 | -86.8% |
Current ratio | 4.0 | 3.4 | 17.6% |
Quick ratio | 1.8 | 1.3 | 38.5% |
Financial performance
The Group`s sales amounted to 23
The Group’s gross profit during 6 months of 2021 amounted to 13
Consolidated operating profit for 6 months of 2021 amounted to 7
Reported consolidated net profit attributable to equity holders of the Parent company for 6 months of 2021 amounted to 6
Financial position
As of
Trade and other receivables increased by
Equity attributable to equity holders of the Parent company increased by 5
Investments
During 6 months of 2021 the Group’s investments into property, plant and equipment totalled
Personnel
As of
Total salaries and related taxes during 6 months of 2021 amounted to 4
Consolidated Statement of Financial Position
in thousands of EUR | Note | ||
Unaudited | Audited | ||
ASSETS | |||
Current assets | |||
Cash and cash equivalents | 2 | 14 022 | 8 980 |
Current loans granted | 2 | 2 | |
Trade and other receivables | 3 | 2 361 | 2 088 |
Inventories | 4 | 19 996 | 18 527 |
Total current assets | 36 381 | 29 597 | |
Non-current assets | |||
Long-term receivables | 268 | 249 | |
Investments in associates | 59 | 57 | |
Investments in other shares | 250 | 238 | |
Deferred tax asset | 1 091 | 1 032 | |
Intangible assets | 462 | 374 | |
Investment property | 1 053 | 1 018 | |
Property, plant and equipment | 5 | 9 882 | 9 691 |
Total non-current assets | 13 065 | 12 659 | |
TOTAL ASSETS | 49 446 | 42 256 | |
LIABILITIES AND EQUITY | |||
Current liabilities | |||
Short-term borrowings | 0 | 400 | |
Short-term lease liabilities | 1 283 | 2 121 | |
Trade and other payables | 6 | 5 815 | 5 583 |
Goverment Grants | 56 | 0 | |
Tax liabilities | 1 880 | 675 | |
Total current liabilities | 9 034 | 8 779 | |
Non-current liabilities | |||
Deferred tax liability | 584 | 500 | |
Long-term borrowings | 0 | 400 | |
Long-term lease obligations | 5 707 | 4 707 | |
Long-term provisions | 55 | 52 | |
Total non-current liabilities | 6 346 | 5 659 | |
Total liabilities | 15 380 | 14 438 | |
Equity | |||
Share capital | 7 | 3 600 | 3 600 |
Share premium | 4 967 | 4 967 | |
Statutory reserve capital | 1 306 | 1 306 | |
Revaluation reserve | 0 | 355 | |
Unrealised exchange rate differences | -18 547 | -18 864 | |
Retained earnings | 39 171 | 33 140 | |
Total equity attributable to equity holders of the Parent company | 30 497 | 24 504 | |
Non-controlling interest | 3 569 | 3 314 | |
Total equity | 34 066 | 27 818 | |
TOTAL EQUITY AND LIABILITIES | 49 446 | 42 256 |
Consolidated Income Statement
in thousands of EUR | Note | 2Q 2021 | 2Q 2020 | 06m 2021 | 06m 2020 |
Unaudited | Unaudited | Unaudited | Unaudited | ||
Revenue from contracts with customers | 9 | 12 960 | 6 185 | 23 225 | 17 731 |
Cost of goods sold | -5 541 | -2 756 | -9 564 | -7 156 | |
Gross Profit | 7 419 | 3 429 | 13 661 | 10 575 | |
Distribution expenses | -2 094 | -1 713 | -4 204 | -4 447 | |
Administrative expenses | -903 | -811 | -1 788 | -1 933 | |
Other operating income | 385 | 70 | 566 | 129 | |
Other operating expenses | -151 | -144 | -294 | -341 | |
Operating profit | 4 656 | 831 | 7 941 | 3 983 | |
Currency exchange income/(expense) | 605 | 2 174 | 1 060 | -2 556 | |
Other finance income/(expenses) | -106 | -109 | -216 | -234 | |
Net financial income | 499 | 2 065 | 844 | -2 790 | |
Profit (loss) from associates using equity method | 5 | 0 | -1 | 0 | |
Profit before tax | 5 160 | 2 896 | 8 784 | 1 193 | |
Income tax expense | -1 028 | -586 | -2 088 | -323 | |
Profit for the period | 4 132 | 2 310 | 6 696 | 870 | |
Attributable to : | |||||
Equity holders of the Parent company | 3 770 | 2 151 | 6 031 | 745 | |
Non-controlling interest | 362 | 159 | 665 | 125 | |
Earnings per share from profit attributable to equity holders of the Parent company, both basic and diluted (EUR) | 8 | 0,10 | 0,06 | 0,17 | 0,02 |
Consolidated Statement of Comprehensive Income
in thousands of EUR | Note | 2Q 2021 | 2Q 2020 | 06m 2021 | 06m 2020 |
Unaudited | Unaudited | Unaudited | Unaudited | ||
Profit for the period | 4 132 | 2 310 | 6 696 | 870 | |
Other comprehensive income (loss) that will be reclassified to profit or loss in subsequent periods : | |||||
Exchange differences on translation of foreign operations | 40 | 166 | 269 | -2 059 | |
Total other comprehensive income for the period | 40 | 166 | 269 | -2 059 | |
Total comprehensive income (loss) for the period | 4 172 | 2 476 | 6 965 | -1 189 | |
Attributable to : | |||||
Equity holders of the Parent company | 3 829 | 2 331 | 5 993 | -1 652 | |
Non-controlling interest | 343 | 145 | 972 | 463 |
Consolidated Statement of Cash Flows
in thousands of EUR | 06m 2021 | 06m 2020 | |
Unaudited | Unaudited | ||
Cash flow from operating activities | |||
Profit for the period | 6 696 | 870 | |
Adjustments for: | |||
Depreciation and amortization of non-current assets | 1 592 | 1 948 | |
Share of profit of equity accounted investees | 1 | 0 | |
(Gains)/ losses on the sale of property, plant and equipment | 0 | 3 | |
Net finance income / costs | -596 | 212 | |
Provision for inventories | 4 | 1 | |
Receipt of government grants | 450 | 0 | |
Movements in provisions and government grants | -394 | 0 | |
Income tax expense | 2 088 | 323 | |
Change in inventories | -1 469 | 1 114 | |
Change in trade and other receivables | -289 | 219 | |
Change in trade and other payables | 639 | -1 210 | |
Interest paid | -2 | 0 | |
Income tax paid | -665 | -738 | |
Net cash from operating activities | 8 055 | 2 742 | |
Cash flow from investing activities | |||
Interest received | 9 | 7 | |
Proceeds from disposal of property, plant and equipment | 18 | 28 | |
Acquisition of property, plant and equipment | -120 | -133 | |
Acquisition of intangible assets | -82 | -67 | |
Net cash flow from investing activities | -175 | -165 | |
Cash flow from financing activities | |||
Acquisition of non-controlling interests | 0 | -26 | |
Proceeds from borrowings | 0 | 200 | |
Repayment of borrowings | -800 | 0 | |
Payment of principal portion of lease liabilities | -1 135 | -1 006 | |
Interest paid on finance lease | -224 | -255 | |
Dividends paid | -717 | -474 | |
Net cash flow from financing activities | -2 876 | -1 561 | |
Increase in cash and cash equivalents | 5 004 | 1 016 | |
Cash and cash equivalents at the beginning of period | 8 980 | 5 152 | |
Effect of exchange rate fluctuations on cash held | 38 | 184 | |
Cash and cash equivalents at the end of period | 14 022 | 6 352 |
Jarek Särgava
Member of the Board
Phone: +372 6845 000
Email: info@silvanofashon.com
Attachment
- SFG consolidated interim financial report for Q2 and 6m of 2021 unaudited
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