Komentarai Siųsti draugui Spausdinti Vertinimas Neįvertintas

ABC: Unaudited financial results for 2009

Spekuliantai.lt | 2010-02-22 | NASDAQ OMX biržų naujienos | perskaitė: 1328
ABC: Unaudited financial results for 2009

ABC Grupp Company Announcement 22.02.2010

Unaudited financial results for 2009

The consolidated unaudited sales revenue of ABC Group for 2009 was EEK 1,390.5
million (EUR 88.9 million), a decrease of 0.95% on the previous year.
Net profit increased to EEK 25.8 million (EUR 1.6 million), which is EEK 16.8
million (EUR 1.1 million) more than in 2008.
The balance sheet volume of the Group as of 31st December 2009 was EEK 861.3
million (EUR 55.0 million), a decrease of EEK 157.7 million (EUR 10.1 million)
compared to the end of 2008.
Extraordinary income amounted to EEK 218.3 million (EUR 14.0 million) and loss
from write-downs due to impairment of assets was EEK 185.0 million (EUR 11.8
million).
The financial results of the second half of 2009 were affected by the continuing
economic downturn, but, in total, the companies managed to increase the sales
revenue by 13% compared to the first half of the year.
The sales revenue of ABC Supermarkets AS amounted to EEK 558.9 million (EUR 35.7
million), which is 0.8% less than in 2008. The sales area grew 20%, reaching
9215 square meters at the year-end.
The net profit for the year was EEK 1.8 million (EUR 0.1 million), EEK 5.7
million (EUR 0.4 million) more than in 2008. The profit increased mainly as a
result of greater efficiency.
The market share was 2.6% of foodstuffs and convenience goods, i.e. in the
retail sale of non-specialised stores (predominantly food).
The most important event for the segment was the opening of a food store in
Solaris Centre in October.
On 30th December 2009, ABC Grupi AS transferred its participation in ABC
Supermarkets AS to Continental FIT AS. The aim of the transaction was to improve
the capitalisation of ABC Grupi AS and to decrease the conflict of interest
between the group's wholesale activity and its retail activity. The price of the
transaction was EEK 215.0 million (EUR 13.7 million) and the deadline for
payment is 30th December 2010. Until full payment of the sales price, the
transferred shares of ABC Supermarkets AS are pledged in favour of ABC Grupi AS.
Upon creation of the transaction price, the parties took into account the
results of a valuation made by auditing company Rimess. In connection with the
transaction, the liabilities of the group decreased by EEK 146.1 million (EUR
9.3 million) and the assets increased by EEK 55.0 million (EUR 3.5 million).
As a result, assets and liabilities of ABC Supermarkets AS are not included in
the group's consolidated statement of financial position as at 31st December
2009, the income and expenses are included in the consolidated statement of
comprehensive income until 31st December 2009.
In 2009, the sales revenue of Abestock AS decreased 3.9% compared to 2008,
dropping to EEK 588.1 million (EUR 37.6 million). The most important events in
2009 were the addition of the Nestle Purina, Estrella and Horizon Tissue
products into the portfolio.
The sales revenue of logistics company Agora Logistika AS, which supports the
sale of Abestock AS, remained the same as in 2008.
As in retail segment, in 2009 the results in wholesale segment were influenced
by developments evolving in Estonian economy. However, in the beginning of 2010
there are first signs of stabilization. In January 2010, the sales revenue of
Abestock has increased 7.3% compared to December 2009. The growth of sales
revenue is caused by significantly more aggressive sales campaigns, supported by
massive advertising.
In 2009, the sales revenue of ABC Motors AS increased 4.5% compared to 2008,
reaching EEK 239.7 million (EUR 15.3 million). The growth was mainly triggered
by the sales of new Renault models with a favourable price and quality ratio.
At the same time, the net loss for the year reached EEK 9.0 million (EUR 0.6
million). The most important reason underlying the loss was unprofitable sale of
lease cars repurchased from the banks.
Over 2009, ABC Motors AS decreased its stocks by EEK 42.2 million (EUR 2.7
million), i.e. 44%, selling all vehicles with limited liquidity.
The most important event was the launch of the new Renault Fluence, Renault
Megane GT III, Renault Scenic III, and Dacia Logan Van models.
In 2009, the rental income of the property business segment outside the
consolidation group was EEK 17.2 million (EUR 1.1 million), an increase of 20%
compared to 2008. Vacancy rate stood below 5%.
A one-off loss of EEK 165.5 million (EUR 10.6 million) resulted from the
valuation of properties to fair value.
Designing and construction related to real estate development was completely
abandoned in 2009.
The properties of Oma Varahalduse AS were transferred at fair prices to
companies ABC Vara AS, Abestock AS and ABC Supermarkets AS, based on the main
activity and securities of loans, in the total amount of EEK 198.0 million (EUR
12.65 million). The goodwill of Oma Varahalduse AS, as a former real estate
development company, fell to zero after valuation of the properties into fair
value. The company was transferred to a third party on 23rd December 2009. In
connection with the transaction, the liabilities of the group decreased by EEK
43.5 million (EUR 2.8 million) and the assets decreased by EEK 37.7 million (EUR
2.4 million).
As a result, assets and liabilities of Oma Varahalduse AS are not included in
the group's consolidated statement of financial position as at 31st December
2009, the income and expenses are included in the consolidated statement of
comprehensive income until 31st December 2009.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| (thousands ) EEK | EEK | EUR | EUR |
--------------------------------------------------------------------------------
| 31.12.2009 | 31.12.2008| 31.12.2009 | 31.12.2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| ASSETS | | | | | |
--------------------------------------------------------------------------------
| Current assets | | | | | |
--------------------------------------------------------------------------------
| Cash at bank and in | | 884 | 13 394 | 56 | 856 |
| hand | | | | | |
--------------------------------------------------------------------------------
| Short-term financial | | 0 | 3 751 | 0 | 240 |
| investments | | | | | |
--------------------------------------------------------------------------------
| Receivables and | | 366 519 | 105 422 | 23 425 | 6 738 |
| prepayments | | | | | |
--------------------------------------------------------------------------------
| Inventories | | 117 628 | 193 580 | 7 518 | 12 372 |
--------------------------------------------------------------------------------
| Assets held for sale | | 54 000 | 0 | 3 451 | 0 |
--------------------------------------------------------------------------------
| Total current assets | | 539 031 | 316 147 | 34 450 | 20 206 |
--------------------------------------------------------------------------------
| Non-current assets | | | | | |
--------------------------------------------------------------------------------
| Long-term financial | | 74 | 13 104 | 5 | 838 |
| investments | | | | | |
--------------------------------------------------------------------------------
| Investment properties | | 211 214 | 463 975 | 13 499 | 29 653 |
--------------------------------------------------------------------------------
| Tangible assets | | 55 520 | 152 021 | 3 548 | 9 716 |
--------------------------------------------------------------------------------
| Intangible assets | | 55 476 | 73 750 | 3 546 | 4 713 |
--------------------------------------------------------------------------------
| Total non-current | | 322 284 | 702 850 | 20 598 | 44 920 |
| assets | | | | | |
--------------------------------------------------------------------------------
| TOTAL ASSETS | | 861 315 | 1 018 997 | 55 048 | 65 126 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| LIABILITIES AND EQUITY | | | | | |
--------------------------------------------------------------------------------
| Current liabilities | | | | | |
--------------------------------------------------------------------------------
| Interest bearing loans | | 263 762 | 242 762 | 16 857 | 15 515 |
| and borrowings | | | | | |
--------------------------------------------------------------------------------
| Payables and | | 103 616 | 152 212 | 6 622 | 9 730 |
| prepayments | | | | | |
--------------------------------------------------------------------------------
| Total current | | 367 378 | 394 974 | 23 479 | 25 245 |
| liabilities | | | | | |
--------------------------------------------------------------------------------
| Non-current | | | | | |
| liabilities | | | | | |
--------------------------------------------------------------------------------
| Interest bearing loans | | 146 072 | 300 250 | 9 336 | 19 189 |
| and borrowings | | | | | |
--------------------------------------------------------------------------------
| Other non-current | | 0 | 1 728 | 0 | 110 |
| liabilities | | | | | |
--------------------------------------------------------------------------------
| Total non-current | | 146 072 | 301 978 | 9 336 | 19 299 |
| liabilities | | | | | |
--------------------------------------------------------------------------------
| TOTAL LIABILITIES | | 513 450 | 696 952 | 32 815 | 44 544 |
--------------------------------------------------------------------------------
| OWNERS' EQUITY | | | | | |
--------------------------------------------------------------------------------
| Share capital | | 100 280 | 100 280 | 6 409 | 6 409 |
--------------------------------------------------------------------------------
| Issue premium | | 18 575 | 18 575 | 1 187 | 1 187 |
--------------------------------------------------------------------------------
| Mandatory reserve | | 2 180 | 2 180 | 139 | 139 |
--------------------------------------------------------------------------------
| Retained earnings | | 201 010 | 191 950 | 12 848 | 12 268 |
--------------------------------------------------------------------------------
| Net profit | | 25 820 | 9 060 | 1 650 | 579 |
--------------------------------------------------------------------------------
| TOTAL OWNERS' EQUITY | | 347 865 | 322 045 | 22 233 | 20 582 |
--------------------------------------------------------------------------------
| TOTAL LIABILITIES AND | | 861 315 | 1 018 997 | 55 048 | 65 126 |
| OWNERS' EQUITY | | | | | |
--------------------------------------------------------------------------------

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| (thousands) EEK | EEK | EUR | EUR |
--------------------------------------------------------------------------------
| 2009 | 2008 | 2009 | 2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net sales | | 1 390 475 | 1 403 811 | 88 867 | 89 720 |
--------------------------------------------------------------------------------
| Other operating | | 25 748 | 57 234 | 1 646 | 3 658 |
| revenues | | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Goods, raw materials | | -1 180 | -1 181 | -75 431 | -75 491 |
| and services | | 240 | 184 | | |
--------------------------------------------------------------------------------
| Other operating | | -83 510 | -74 345 | -5 337 | -4 752 |
| expenses | | | | | |
--------------------------------------------------------------------------------
| Personnel expenses | | | | | |
--------------------------------------------------------------------------------
| Wages and salaries | | -78 793 | -99 625 | -5 036 | -6 367 |
--------------------------------------------------------------------------------
| Social taxes | | -26 696 | -33 154 | -1 706 | -2 119 |
--------------------------------------------------------------------------------
| Total personnel | | -105 489 | -132 779 | -6 742 | -8 486 |
| expenses | | | | | |
--------------------------------------------------------------------------------
| Depreciation and | | -48 491 | -14 584 | -3 099 | -932 |
| impairments | | | | | |
--------------------------------------------------------------------------------
| Other operating charges | | -156 543 | -3 929 | -10 005 | -251 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit (loss) | | -158 050 | 54 224 | -10 101 | 3 466 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Financial income and | | | | | |
| expenses | | | | | |
--------------------------------------------------------------------------------
| Financial income (loss) | | 218 269 | 0 | 13 950 | 0 |
| from investments | | | | | |
| in subsidiaries | | | | | |
--------------------------------------------------------------------------------
| Financial income (loss) | | -245 | 51 | -16 | 3 |
| from investments | | | | | |
| in affiliates | | | | | |
--------------------------------------------------------------------------------
| Interest expenses | | -30 137 | -40 909 | -1 926 | -2 615 |
--------------------------------------------------------------------------------
| FX profit (loss) | | 277 | -598 | 18 | -38 |
--------------------------------------------------------------------------------
| Other financial income | | -4 294 | -3 592 | -275 | -230 |
| and expenses | | | | | |
--------------------------------------------------------------------------------
| Total financial income | | 183 870 | -45 048 | 11 751 | -2 880 |
| and expenses | | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit before income | | 25 820 | 9 176 | 1 650 | 586 |
| tax | | | | | |
--------------------------------------------------------------------------------
| Income tax | | 0 | -116 | 0 | -7 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total comprehensive | | 25 820 | 9 060 | 1 650 | 579 |
| income | | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Basic earnings per | | 25,7 | 14,8 | 1,65 | 0,95 |
| share (EEK/EUR) | | | | | |
--------------------------------------------------------------------------------
| Diluted earnings per | | 25,7 | 14,8 | 1,65 | 0,95 |
| share (EEK/EUR) | | | | | |
--------------------------------------------------------------------------------


The Initial Unaudited Consolidated Annual Report 2009 of ABC Grupi AS is
available on NASDAQ OMX Tallinn Stock Exchange's and ABC Grupi AS Internet home
page http://www.abc.ee.



Jüri Vips
Chairman of the Board
Phone+372 6505505



1. 12 months interim report.pdf
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=293397)

Taip pat skaitykite

DPK: Decisions of the regular meeting of shareholders dated 27.05.2013

VLN: NEW MUTUAL FUND TO THE BALTIC FUND CENTER

VLN: The results of the primary placement auction of Lithuanian Government securities

VLN: VVP pirminio platinimo aukciono rezultatai

2013-05-27 | NASDAQ OMX biržų naujienos 2013-05-27 | NASDAQ OMX biržų naujienos 2013-05-27 | NASDAQ OMX biržų naujienos 2013-05-27 | NASDAQ OMX biržų naujienos

Komentarai



Ekonominis kalendorius

Prekybos statistika realiu laiku

Techninės analizės įrankis

Privatumo politika Reklama Kontaktai Paskolos RSS RSS
© 2006-2024 UAB All Media Digital