Selected Financial Indicators
Summarized selected financial indicators of the Group for 6 months of 2020 compared to 6 months of 2019 and
in thousands of EUR | 06m 2020 | 06m 2019 | Change |
Revenue | 17 731 | 30 264 | -41.4% |
Gross Profit | 10 575 | 15 493 | -31.7% |
Operating profit | 3 983 | 7 061 | -43.6% |
EBITDA | 5 931 | 8 789 | -32.5% |
Net profit for the period | 870 | 7 203 | -87.9% |
Net profit attributable equity holders of the Parent company | 745 | 6 922 | -89.2% |
Earnings per share (EUR) | 0,02 | 0,19 | -89.5% |
Operating cash flow for the period | 2 742 | 8 331 | -67.1% |
in thousands of EUR | Change | ||
Total assets | 42 916 | 46 309 | -7.3% |
Total current assets | 26 877 | 27 123 | -0.9% |
Total equity attributable to equity holders of the Parent company | 24 672 | 26 324 | -6.3% |
Cash and cash equivalents | 6 352 | 5 152 | 23.3% |
Margin analysis, % | 06m 2020 | 06m 2019 | Change |
Gross profit | 59.6 | 51.2 | 16.4% |
Operating profit | 22.5 | 23.3 | -3.4% |
EBITDA | 33.4 | 29.0 | 15.2% |
Net profit | 4.9 | 23.8 | -79.4% |
Net profit attributable to equity holders of the Parent company | 4.2 | 22.9 | -81.6% |
Financial ratios, % | Change | ||
ROA | 10.2 | 22.2 | -54.1% |
ROE | 18.1 | 38.9 | -53.5% |
Price to earnings ratio (P/E) | 13.3 | 7.3 | 82.2% |
Current ratio | 3.3 | 2.7 | 22.2% |
Quick ratio | 1.1 | 0.8 | 37.5% |
Financial performance
The Group`s sales amounted to 17
The Group’s gross profit during 6 months of 2020 amounted to 10
Consolidated operating profit for 6 months of 2020 amounted to 3
Reported consolidated net profit attributable to equity holders of the Parent company for 6 months of 2020 amounted to
Financial position
As of
Trade and other receivables decreased by
Equity attributable to equity holders of the Parent company decreased by 1
Investments
During 6 months of 2020 the Group’s investments into property, plant and equipment totalled
Personnel
As of
Total salaries and related taxes during 6 months of 2020 amounted to 5
Consolidated Statement of Financial Position
in thousands of EUR | Note | ||
ASSETS | |||
Current assets | |||
Cash and cash equivalents | 6 352 | 5 152 | |
Current loans granted | 2 | 2 | |
Trade and other receivables | 2 | 2 278 | 2 610 |
Inventories | 3 | 18 245 | 19 359 |
Total current assets | 26 877 | 27 123 | |
Non-current assets | |||
Long-term receivables | 281 | 334 | |
Investments in associates | 71 | 82 | |
Available-for-sale investments | 279 | 321 | |
Deferred tax asset | 1 405 | 905 | |
Intangible assets | 402 | 423 | |
Investment property | 746 | 869 | |
Property, plant and equipment | 4 | 12 855 | 16 252 |
Total non-current assets | 16 039 | 19 186 | |
TOTAL ASSETS | 42 916 | 46 309 | |
LIABILITIES AND EQUITY | |||
Current liabilities | |||
Short-term finance lease obligations | 1 287 | 2 362 | |
Trade and other payables | 5 | 5 951 | 6 899 |
Tax liabilities | 819 | 889 | |
Total current liabilities | 8 057 | 10 150 | |
Non-current liabilities | |||
Deferred tax liability | 0 | 14 | |
Long-term loans | 200 | 0 | |
Long-term finance lease obligations | 6 518 | 6 333 | |
Long-term provisions | 53 | 61 | |
Total non-current liabilities | 6 771 | 6 408 | |
Total liabilities | 14 828 | 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 | -18 094 | -15 697 | |
Retained earnings | 32 538 | 31 793 | |
Total equity attributable to equity holders of the Parent company | 24 672 | 26 324 | |
Non-controlling interest | 3 416 | 3 427 | |
Total equity | 28 088 | 29 751 | |
TOTAL EQUITY AND LIABILITIES | 42 916 | 46 309 |
Consolidated Income Statement
in thousands of EUR | Note | 2Q 2020 | 2Q 2019 | 06m 2020 | 06m 2019 |
Revenue | 8 | 6 185 | 16 444 | 17 731 | 30 264 |
Cost of goods sold | -2 756 | -7 406 | -7 156 | -14 771 | |
Gross Profit | 3 429 | 9 038 | 10 575 | 15 493 | |
Distribution expenses | -1 713 | -2 949 | -4 447 | -5 854 | |
Administrative expenses | -811 | -1 195 | -1 933 | -2 287 | |
Other operating income | 70 | 81 | 129 | 147 | |
Other operating expenses | -144 | -236 | -341 | -438 | |
Operating profit | 831 | 4 739 | 3 983 | 7 061 | |
Currency exchange income/(expense) | 2 174 | 439 | -2 556 | 2 470 | |
Other finance income/(expenses) | -109 | -110 | -234 | -220 | |
Net financial income | 2 065 | 329 | -2 790 | 2 250 | |
Profit (loss) from associates using equity method | 0 | -1 | 0 | 0 | |
Profit before tax | 2 896 | 5 067 | 1 193 | 9 311 | |
Income tax expense | -586 | -944 | -323 | -2 108 | |
Profit for the period | 2 310 | 4 123 | 870 | 7 203 | |
Attributable to: | |||||
Equity holders of the Parent company | 2 151 | 3 824 | 745 | 6 922 | |
Non-controlling interest | 159 | 299 | 125 | 281 | |
Earnings per share from profit attributable to equity holders of the Parent company, both basic and diluted (EUR) | 7 | 0,06 | 0,11 | 0,02 | 0,19 |
Consolidated Statement of Comprehensive Income
in thousands of EUR | Note | 2Q 2020 | 2Q 2019 | 06m 2020 | 06m 2019 |
Profit for the period | 2 310 | 4 123 | 870 | 7 203 | |
Other comprehensive income (loss) that will be reclassified to profit or loss in subsequent periods | 166 | 182 | -2 059 | 11 | |
Attributable to : | |||||
Equity holders of the Parent company | 180 | 90 | -2 397 | -193 | |
Non-controlling interest | -14 | 92 | 338 | 204 | |
Total comprehensive income (loss) for the period | 2 476 | 4 305 | -1 189 | 7 214 | |
Attributable to : | |||||
Equity holders of the Parent company | 2 331 | 3 914 | -1 652 | 6 729 | |
Non-controlling interest | 145 | 391 | 463 | 485 |
Consolidated Statement of Cash Flows
in thousands of EUR | 06m 2020 | 06m 2019 |
Cash flow from operating activities | ||
Profit for the period | 870 | 7 203 |
Adjustments for: | ||
Depreciation and amortization of non-current assets | 1 948 | 1 728 |
(Gains)/ losses on the sale of property, plant and equipment | 3 | 23 |
Net finance income / costs | 212 | -2 250 |
Provision for inventories | 1 | 0 |
Provision for long-term benefits | 0 | 3 |
Income tax expense | 323 | 2 108 |
Change in inventories | 1 114 | -914 |
Change in trade and other receivables | 219 | -332 |
Change in trade and other payables | -1 210 | 1 105 |
Change in finance lease obligations | 0 | 997 |
Income tax paid | -738 | -1 340 |
Net cash from operating activities | 2 742 | 8 331 |
Cash flow from investing activities | ||
Interest received | 7 | 4 |
Proceeds from disposal of property, plant and equipment | 28 | 59 |
Proceeds from repayments of loans granted | 0 | 6 |
Acquisition of property, plant and equipment | -133 | -1 096 |
Acquisition of intangible assets | -67 | -118 |
Acquisition of subsidiary net of cash acquired | -26 | 0 |
Net cash used in/from investing activities | -191 | -1 145 |
Cash flow from financing activities | ||
Proceeds from borrowings | 200 | 0 |
Repayment of finance lease | -1 006 | -1 114 |
Interest paid on finance lease | -255 | 0 |
Dividends paid | -474 | -3 919 |
Reduction of share capital | 0 | -7 200 |
Net cash used in/ from financing activities | -1 535 | -12 233 |
Increase in cash and cash equivalents | 1 016 | -5 047 |
Cash and cash equivalents at the beginning of period | 5 152 | 13 603 |
Effect of exchange rate fluctuations on cash held | 184 | -68 |
Cash and cash equivalents at the end of period | 6 352 | 8 488 |
Jarek Särgava
Member of the Board
Phone: +372 6845 000
Email: info@silvanofashon.com
Attachment
- SFG Q2 2020 ENG
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