Economic Results of Ekspress Group in First Half of 2007
The consolidated net turnover of AS Ekspress Grupp in the first half of 2007 was
527 million kroons (33.7 million EUR), which is 18% more than the year before.
EBITDA amounted to 74.4 million kroons (4.75 million EUR). On comparable bases
(in 2006, without considering the income in the amount of 3.4 million kroons
(0.2 million EUR) received from the sale of the share in Linnaleht), the EBITDA
exceeds the result achieved in the same period last year by 10%. The net profit
of the group in the first half of 2007 was 51.2 million kroons (3.3 million
EUR), which is 16% more than in 2006 (without the impact of Linnaleht).
Consolidated net turnover in Q2 was 277 million kroons (17.7 million EUR) (+17%)
and net profit 32.7 million kroons (2.1 million EUR).
The sources of the increase in turnover in absolute figures were mostly
publishing of newspapers and magazines and printing services. The increase was
also fast in the information services and book sales segment.
In the publishing segment, the growth of advertising turnover is continuing fast
and the increase when compared to the previous year is 26%. Sale of periodicals
(subscriptions and sale by issue) achieved a strong 12% increase based on the
increase of subscriptions and sales of existing products as well as new
magazines. New products in the first half of 2007 were celebrity magazine Klubas
in Ekspress Leidyba, the Lithuanian subsidiary of Ekspress Grupp and the women's
weekly Naised of Ajakirjade Kirjastus, cooking magazine Oma Maitse and crafts
magazine Käsitöö. Naised and Klubas have achieved a very good print circulation
in this short time after launch - 31 thousand and 38 thousand, respectively -
and have attracted the attention of readers allowing to increase advertising
income in the future. Launching new products has temporarily increased our
operating expenses ratio and reduced our profit margin.
Printing house Printall has managed to maintain the remarkable turnover increase
achieved in Q1 (15%) when compared to the previous year, mostly on account of
Estonian commercial clients and export. However, the share of paper in turnover
has increased, which reduces sales margins. Sales margins have also been reduced
by the faster increase (18%) in labour costs and the costs associated with the
introduction of the new printing line (0.6 million kroons) (40 thousand EUR).
The remarkable increase in book sales is a sign of favourable market conditions,
which the bookstore in Viru Centre and the new store in Viljandi have put in
good use. We also expect the same from the opening of the new additional store
space in Viru Centre that we announced in spring.
The turnover of the information services segment has increased remarkably (32%),
due to by the launch of a new telephone catalogue and the growing market share
in the directory enquiries sector.
Reduction of interest expenses also contributed to the increase in net profit as
the loan burden of the Group was reduced on account of the money obtained from
the share issue this spring.
Revenue and net profit by segment*.
--------------------------------------------------------------------------------
| th EEK | Revenue | EBITDA | Net profit |
--------------------------------------------------------------------------------
| | 2007 | 2006 | Chan | 2007 | 2006 | Chang | 2007 | 2006 | Chang |
| | I HY | I HY | ge | I HY | I HY | e | I HY | I HY | e |
--------------------------------------------------------------------------------
| printin | 192 | 166 | 15% | 37 | 34 | 8% | 24 | 22 | 12% |
| g | 025 | 570 | | 629 | 682 | | 721 | 074 | |
| service | | | | | | | | | |
| s | | | | | | | | | |
--------------------------------------------------------------------------------
| periodi | 256 | 217 | 18% | 32 | 34 | -6% | 25 | 25 | 1% |
| cals | 061 | 391 | | 046 | 006 | | 642 | 432 | |
--------------------------------------------------------------------------------
| book | 81 | 67 | 20% | 3 174 | 2 799 | 13% | 2 211 | 2 027 | 9% |
| salses | 284 | 737 | | | | | | | |
--------------------------------------------------------------------------------
| informa | 34 | 26 | 32% | 4 414 | 2 786 | 58% | 3 501 | 1 634 | 114% |
| tion | 415 | 114 | | | | | | | |
| service | | | | | | | | | |
| s | | | | | | | | | |
--------------------------------------------------------------------------------
| unalloc | 870 | 669 | - | (3 | (3 | - | (4 | (4 | - |
| ated | | | | 032) | 313) | | 548) | 547) | |
--------------------------------------------------------------------------------
| iterseg | (37 | (30 | - | 176 | 510 | - | (292) | 20 | - |
| ment | 648) | 968) | | | | | | | |
| elimina | | | | | | | | | |
| tions | | | | | | | | | |
--------------------------------------------------------------------------------
| TOTAL | 527 | 447 | 18% | 74 | 71 | 4% | 51 | 46 | 10% |
| | 007 | 513 | | 407 | 470 | | 235 | 640 | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| th EUR | Revenue | EBITDA | Net profit |
--------------------------------------------------------------------------------
| | 2007 | 2006 | Chan | 2007 | 2006 | Chang | 2007 | 2006 | Chang |
| | I HY | I HY | ge | I HY | I HY | e | I HY | I HY | e |
--------------------------------------------------------------------------------
| printin | 12 | 10 | 15% | 2 | 2 | 8% | 1 580 | 1 411 | 12% |
| g | 273 | 646 | | 405 | 217 | | | | |
| service | | | | | | | | | |
| s | | | | | | | | | |
--------------------------------------------------------------------------------
| periodi | 16 | 13 | 18% | 2 | 2 | -6% | 1 639 | 1 625 | 1% |
| cals | 365 | 894 | | 048 | 173 | | | | |
--------------------------------------------------------------------------------
| book | 5 195 | 4 329 | 20% | 203 | 179 | 13% | 141 | 130 | 8% |
| salses | | | | | | | | | |
--------------------------------------------------------------------------------
| informa | 2 200 | 1 669 | 32% | 282 | 178 | 58% | 224 | 104 | 114% |
| tion | | | | | | | | | |
| service | | | | | | | | | |
| s | | | | | | | | | |
--------------------------------------------------------------------------------
| unalloc | 56 | 43 | - | (194 | (212 | - | (291) | (291) | - |
| ated | | | | ) | ) | | | | |
--------------------------------------------------------------------------------
| iterseg | (2 | (1 | - | 11 | 33 | - | (19) | 2 | - |
| ment | 407) | 980) | | | | | | | |
| elimina | | | | | | | | | |
| tions | | | | | | | | | |
--------------------------------------------------------------------------------
| TOTAL | 33 | 28 | 18% | 4 | 4 | 4% | 3 274 | 2 981 | 10% |
| | 682 | 601 | | 755 | 568 | | | | |
--------------------------------------------------------------------------------
*proportional part from joint ventures
Revenue and net profit by group companies *.
--------------------------------------------------------------------------------
| th EEK | Revenue | Change% | Net income/loss | Change% |
--------------------------------------------------------------------------------
| | 2007 I | 2006 I | | 2007 I | 2006 I | |
| | HY | HY | | HY | HY | |
--------------------------------------------------------------------------------
| Eesti | 72 964 | 58 568 | 25% | 15 893 | 11 290 | 41% |
| Ekspressi | | | | | | |
| Kirjastuse | | | | | | |
| AS | | | | | | |
--------------------------------------------------------------------------------
| AS | 192 025 | 166 570 | 15% | 24 721 | 22 074 | 12% |
| Printall | | | | | | |
--------------------------------------------------------------------------------
| UAB | 31 873 | 26 328 | 21% | (1 028) | 842 | -222% |
| Ekspress | | | | | | |
| Leidyba | | | | | | |
--------------------------------------------------------------------------------
| Rahva | 81 284 | 67 737 | 20% | 2 211 | 2 027 | 9% |
| Raamat AS | | | | | | |
--------------------------------------------------------------------------------
| OÜ | 3 215 | 2 711 | 19% | 1 352 | 240 | 463% |
| Netikuulut | | | | | | |
| used | | | | | | |
--------------------------------------------------------------------------------
| AS | 34 415 | 26 114 | 32% | 4 129 | 1 910 | 116% |
| Ekspress | | | | | | |
| Hotline | | | | | | |
--------------------------------------------------------------------------------
| OÜ | 1 056 | 0 | - | (2 112) | 0 | - |
| Ekspress | | | | | | |
| Internet | | | | | | |
--------------------------------------------------------------------------------
| Eesti | 82 150 | 74 634 | 10% | 2 730 | 11624*** | -62% |
| Päevalehe | | | | | | |
| AS** | | | | | | |
--------------------------------------------------------------------------------
| AS SL | 80 264 | 68 268 | 18% | 11 346 | 9 482 | 20% |
| Õhtuleht** | | | | | | |
--------------------------------------------------------------------------------
| AS Express | 35 998 | 23 464 | 53% | 3 030 | 624 | 386% |
| Post** | | | | | | |
--------------------------------------------------------------------------------
| AS | 113 440 | 97 688 | 16% | 3 906 | 6 030 | -35% |
| Ajakirjade | | | | | | |
| Kirjastus* | | | | | | |
| * | | | | | | |
--------------------------------------------------------------------------------
| AS | 18 493 | 11 903 | 55% | 1 973 | (3 110) | - |
| Linnaleht | | | | | | |
--------------------------------------------------------------------------------
| UAB | 61 340 | 44 451 | 38% | 1 086 | 213 | 410% |
| Medipresa | | | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| th EUR | Revenue | Change% | Net income/loss | Change% |
--------------------------------------------------------------------------------
| | 2007 I | 2006 I | | 2007 I | 2006 I | |
| | HY | HY | | HY | HY | |
--------------------------------------------------------------------------------
| Eesti | 4 663 | 3 743 | 25% | 1 016 | 722 | 41% |
| Ekspressi | | | | | | |
| Kirjastuse | | | | | | |
| AS | | | | | | |
--------------------------------------------------------------------------------
| AS | 12 273 | 10 646 | 15% | 1 580 | 1 411 | 12% |
| Printall | | | | | | |
--------------------------------------------------------------------------------
| UAB | 2 037 | 1 683 | 21% | (66) | 54 | -222% |
| Ekspress | | | | | | |
| Leidyba | | | | | | |
--------------------------------------------------------------------------------
| Rahva | 5 195 | 4 329 | 20% | 141 | 130 | 9% |
| Raamat AS | | | | | | |
--------------------------------------------------------------------------------
| OÜ | 205 | 173 | 19% | 86 | 15 | 463% |
| Netikuulut | | | | | | |
| used | | | | | | |
--------------------------------------------------------------------------------
| AS | 2 200 | 1 669 | 32% | 264 | 122 | 116% |
| Ekspress | | | | | | |
| Hotline | | | | | | |
--------------------------------------------------------------------------------
| OÜ | 67 | 0 | - | (135) | 0 | - |
| Ekspress | | | | | | |
| Internet | | | | | | |
--------------------------------------------------------------------------------
| Eesti | 5 250 | 4 770 | 10% | 174 | 743*** | -62% |
| Päevalehe | | | | | | |
| AS** | | | | | | |
--------------------------------------------------------------------------------
| AS SL | 5 130 | 4 364 | 18% | 726 | 606 | 20% |
| Õhtuleht** | | | | | | |
--------------------------------------------------------------------------------
| AS Express | 2 300 | 1 500 | 53% | 194 | 40 | 386% |
| Post** | | | | | | |
--------------------------------------------------------------------------------
| AS | 7 250 | 6 244 | 16% | 250 | 386 | -35% |
| Ajakirjade | | | | | | |
| Kirjastus* | | | | | | |
| * | | | | | | |
--------------------------------------------------------------------------------
| AS | 1 182 | 761 | 55% | 126 | (199) | - |
| Linnaleht | | | | | | |
--------------------------------------------------------------------------------
| UAB | 3 920 | 2 841 | 38% | 69 | 14 | 410% |
| Medipresa | | | | | | |
--------------------------------------------------------------------------------
*with intergroup transactions
**joint ventures 100%
***includes income 6.7 million kroons (0.4 million euros) from the sale of 50%
shares in Linnaleht
Consolidated balance (unaudited)
--------------------------------------------------------------------------------
| th EEK | 30.06.200 | 31.12.200 | 30.06.200 |
| | 7 | 6 | 6 |
--------------------------------------------------------------------------------
| ASSETS | | | |
--------------------------------------------------------------------------------
| Current assets | | | |
--------------------------------------------------------------------------------
| Cash and cash equivalents | 161 410 | 51 101 | 29 838 |
--------------------------------------------------------------------------------
| Other financial assets at fair value | 5 019 | 6 334 | 6 832 |
| through profit or loss | | | |
--------------------------------------------------------------------------------
| Trade and other receivables | 165 226 | 122 726 | 112 217 |
--------------------------------------------------------------------------------
| Inventories | 46 532 | 44 857 | 46 353 |
--------------------------------------------------------------------------------
| Total | 378 187 | 225 018 | 195 240 |
--------------------------------------------------------------------------------
| Assets classified as held for sale | 0 | 0 | 9 194 |
--------------------------------------------------------------------------------
| Total current assets | 378 187 | 225 018 | 204 434 |
--------------------------------------------------------------------------------
| Non-current assets | | | |
--------------------------------------------------------------------------------
| Trade and other receivables | 9 329 | 9 708 | 9 532 |
--------------------------------------------------------------------------------
| Investments in associates | 862 | 17 | 32 |
--------------------------------------------------------------------------------
| Investment property | 3 928 | 4 123 | 0 |
--------------------------------------------------------------------------------
| Property, plant and equipment | 363 849 | 289 210 | 303 726 |
--------------------------------------------------------------------------------
| Intangible assets | 144 452 | 138 281 | 105 044 |
--------------------------------------------------------------------------------
| Total non-current assets | 522 420 | 441 339 | 418 334 |
--------------------------------------------------------------------------------
| TOTAL ASSETS | 900 607 | 666 357 | 622 768 |
--------------------------------------------------------------------------------
| SHAREHOLDERS EQUITY AND LIABILITIES | | | |
--------------------------------------------------------------------------------
| Liabilities | | | |
--------------------------------------------------------------------------------
| Current liabilities | | | |
--------------------------------------------------------------------------------
| Borrowings | 13 995 | 95 060 | 88 618 |
--------------------------------------------------------------------------------
| Trade and other payables | 173 769 | 187 098 | 159 284 |
--------------------------------------------------------------------------------
| Total current liabilities | 187 764 | 282 158 | 247 902 |
--------------------------------------------------------------------------------
| Non-current liabilities | | | |
--------------------------------------------------------------------------------
| Borrowings | 182 928 | 118 846 | 181 692 |
--------------------------------------------------------------------------------
| Other long term liabilities | 716 | 83 | 697 |
--------------------------------------------------------------------------------
| Total non-current liabilities | 183 644 | 118 929 | 182 389 |
--------------------------------------------------------------------------------
| Total liabilities | 371 408 | 401 087 | 430 291 |
--------------------------------------------------------------------------------
| Equity | | | |
--------------------------------------------------------------------------------
| Capital and reserves attributable to | | | |
| equity holders of the Group | | | |
--------------------------------------------------------------------------------
| Share capital | 189 711 | 165 232 | 2 216 |
--------------------------------------------------------------------------------
| Share premium | 183 495 | 0 | 21 285 |
--------------------------------------------------------------------------------
| Reserves | 10 222 | 5 501 | 10 222 |
--------------------------------------------------------------------------------
| Retained earnings | 145 326 | 94 310 | 140 077 |
--------------------------------------------------------------------------------
| Total capital and reserves attributable | 528 754 | 265 043 | 173 800 |
| to equity holders of the Group | | | |
--------------------------------------------------------------------------------
| Minority interest | 445 | 227 | 18 677 |
--------------------------------------------------------------------------------
| Total equity | 529 199 | 265 270 | 192 477 |
--------------------------------------------------------------------------------
| TOTAL EQUITY AND LIABILITIES | 900 607 | 666 357 | 622 768 |
--------------------------------------------------------------------------------
Consolidated balance (unaudited)
--------------------------------------------------------------------------------
| th EUR | 30.06.200 | 31.12.200 | 30.06.200 |
| | 7 | 6 | 6 |
--------------------------------------------------------------------------------
| ASSETS | | | |
--------------------------------------------------------------------------------
| Current assets | | | |
--------------------------------------------------------------------------------
| Cash and cash equivalents | 10 316 | 3 266 | 1 907 |
--------------------------------------------------------------------------------
| Other financial assets at fair value | 321 | 405 | 437 |
| through profit or loss | | | |
--------------------------------------------------------------------------------
| Trade and other receivables | 10 559 | 7 844 | 7 171 |
--------------------------------------------------------------------------------
| Inventories | 2 974 | 2 867 | 2 963 |
--------------------------------------------------------------------------------
| Total | 24 170 | 14 382 | 12 478 |
--------------------------------------------------------------------------------
| Assets classified as held for sale | 0 | 0 | 588 |
--------------------------------------------------------------------------------
| Total current assets | 24 170 | 14 382 | 13 066 |
--------------------------------------------------------------------------------
| Non-current assets | | | |
--------------------------------------------------------------------------------
| Trade and other receivables | 596 | 620 | 609 |
--------------------------------------------------------------------------------
| Investments in associates | 55 | 1 | 2 |
--------------------------------------------------------------------------------
| Investment property | 251 | 264 | 0 |
--------------------------------------------------------------------------------
| Property, plant and equipment | 23 254 | 18 484 | 19 412 |
--------------------------------------------------------------------------------
| Intangible assets | 9 232 | 8 838 | 6 714 |
--------------------------------------------------------------------------------
| Total non-current assets | 33 388 | 28 207 | 26 737 |
--------------------------------------------------------------------------------
| TOTAL ASSETS | 57 558 | 42 589 | 39 803 |
--------------------------------------------------------------------------------
| SHAREHOLDERS EQUITY AND LIABILITIES | | | |
--------------------------------------------------------------------------------
| Liabilities | | | |
--------------------------------------------------------------------------------
| Current liabilities | | | |
--------------------------------------------------------------------------------
| Borrowings | 894 | 6 075 | 5 664 |
--------------------------------------------------------------------------------
| Trade and other payables | 11 106 | 11 958 | 10 180 |
--------------------------------------------------------------------------------
| Total current liabilities | 12 000 | 18 033 | 15 844 |
--------------------------------------------------------------------------------
| Non-current liabilities | | | |
--------------------------------------------------------------------------------
| Borrowings | 11 691 | 7 596 | 11 612 |
--------------------------------------------------------------------------------
| Other long term liabilities | 46 | 5 | 45 |
--------------------------------------------------------------------------------
| Total non-current liabilities | 11 737 | 7 601 | 11 657 |
--------------------------------------------------------------------------------
| Total liabilities | 23 737 | 25 634 | 27 501 |
--------------------------------------------------------------------------------
| Equity | | | |
--------------------------------------------------------------------------------
| Capital and reserves attributable to | | | |
| equity holders of the Group | | | |
--------------------------------------------------------------------------------
| Share capital | 12 125 | 10 560 | 142 |
--------------------------------------------------------------------------------
| Share premium | 11 727 | 0 | 1 360 |
--------------------------------------------------------------------------------
| Reserves | 653 | 352 | 653 |
--------------------------------------------------------------------------------
| Retained earnings | 9 288 | 6 028 | 8 953 |
--------------------------------------------------------------------------------
| Total capital and reserves attributable | 33 793 | 16 940 | 11 108 |
| to equity holders of the Group | | | |
--------------------------------------------------------------------------------
| Minority interest | 28 | 15 | 1 194 |
--------------------------------------------------------------------------------
| Total equity | 33 821 | 16 955 | 12 302 |
--------------------------------------------------------------------------------
| TOTAL EQUITY AND LIABILITIES | 57 558 | 42 589 | 39 803 |
--------------------------------------------------------------------------------
Consolidated income statement (unaudited)
--------------------------------------------------------------------------------
| th EEK | 2007 | 2006 |
--------------------------------------------------------------------------------
| | 2 Quarter | 1 Half Year | 2 Quarter | 1 Half Year |
--------------------------------------------------------------------------------
| Sales | 277 415 | 527 007 | 236 280 | 447 513 |
--------------------------------------------------------------------------------
| Costs of | 203 511 | 387 604 | 168 714 | 324 642 |
| sales | | | | |
--------------------------------------------------------------------------------
| Gross margin | 73 904 | 139 403 | 67 566 | 122 871 |
--------------------------------------------------------------------------------
| | | | | |
--------------------------------------------------------------------------------
| Distribution | 11 958 | 26 036 | 9 068 | 19 751 |
| costs | | | | |
--------------------------------------------------------------------------------
| Administrati | 27 788 | 56 213 | 25 630 | 50 818 |
| ve expenses | | | | |
--------------------------------------------------------------------------------
| Other income | 1 604 | 2 830 | 6 922 | 8 789 |
--------------------------------------------------------------------------------
| Other | 298 | 2 137 | 2 576 | 4 862 |
| expenses | | | | |
--------------------------------------------------------------------------------
| Operating | 35 464 | 57 847 | 37 214 | 56 229 |
| profit | | | | |
--------------------------------------------------------------------------------
| Interest | 1 112 | 1 849 | 591 | 1 662 |
| income | | | | |
--------------------------------------------------------------------------------
| Interest | (1 778) | (4 378) | (2 484) | (5 100) |
| expenses | | | | |
--------------------------------------------------------------------------------
| Currency | (34) | (50) | (356) | (367) |
| exchange | | | | |
| loss | | | | |
--------------------------------------------------------------------------------
| Other | 273 | 567 | (69) | 4 |
| financial | | | | |
| income | | | | |
--------------------------------------------------------------------------------
| Other | (189) | (194) | (1 021) | (1 022) |
| financial | | | | |
| expenses | | | | |
--------------------------------------------------------------------------------
| Net finance | (616) | (2 206) | (3 339) | (4 823) |
| costs | | | | |
--------------------------------------------------------------------------------
| Share of | 845 | 1 179 | 396 | 396 |
| profit (loss | | | | |
| )of | | | | |
| associates | | | | |
--------------------------------------------------------------------------------
| Profit | 35 693 | 56 820 | 34 271 | 51 802 |
| before | | | | |
| income tax | | | | |
--------------------------------------------------------------------------------
| Income tax | 3 021 | 5 585 | 5 355 | 5 355 |
| expense | | | | |
--------------------------------------------------------------------------------
| PROFIT FOR | 32 672 | 51 235 | 28 916 | 46 447 |
| THE YEAR | | | | |
--------------------------------------------------------------------------------
| Attributable | | | | |
| to: | | | | |
--------------------------------------------------------------------------------
| Equity | 32 612 | 51 016 | 28 286 | 45 428 |
| holders of | | | | |
| the Group | | | | |
--------------------------------------------------------------------------------
| Minority | 60 | 219 | 630 | 1 019 |
| interest | | | | |
--------------------------------------------------------------------------------
| Basic and | 1,73 | 2,88 | 2,47 | 3,96 |
| diluted | | | | |
| earings per | | | | |
| share for | | | | |
| profit | | | | |
| attributale | | | | |
| to the | | | | |
| equity | | | | |
| holders of | | | | |
| the Company | | | | |
--------------------------------------------------------------------------------
Consolidated income statement (unaudited)
--------------------------------------------------------------------------------
| th EUR | 2007 | 2006 |
--------------------------------------------------------------------------------
| | 2 Quarter | 1 Half Year | 2 Quarter | 1 Half Year |
--------------------------------------------------------------------------------
| Sales | 17 730 | 33 682 | 15 101 | 28 601 |
--------------------------------------------------------------------------------
| Costs of | 13 006 | 24 772 | 10 782 | 20 748 |
| sales | | | | |
--------------------------------------------------------------------------------
| Gross margin | 4 724 | 8 910 | 4 319 | 7 853 |
--------------------------------------------------------------------------------
| | | | | |
--------------------------------------------------------------------------------
| Distribution | 764 | 1 664 | 579 | 1 262 |
| costs | | | | |
--------------------------------------------------------------------------------
| Administrati | 1 776 | 3 593 | 1 638 | 3 248 |
| ve expenses | | | | |
--------------------------------------------------------------------------------
| Other income | 102 | 181 | 441 | 562 |
--------------------------------------------------------------------------------
| Other | 19 | 137 | 165 | 311 |
| expenses | | | | |
--------------------------------------------------------------------------------
| Operating | 2 267 | 3 697 | 2 378 | 3 594 |
| profit | | | | |
--------------------------------------------------------------------------------
| Interest | 71 | 118 | 38 | 106 |
| income | | | | |
--------------------------------------------------------------------------------
| Interest | (114) | (280) | (159) | (326) |
| expenses | | | | |
--------------------------------------------------------------------------------
| Currency | (2) | (3) | (22) | (23) |
| exchange | | | | |
| loss | | | | |
--------------------------------------------------------------------------------
| Other | 17 | 36 | (5) | 0 |
| financial | | | | |
| income | | | | |
--------------------------------------------------------------------------------
| Other | (12) | (12) | (65) | (65) |
| financial | | | | |
| expenses | | | | |
--------------------------------------------------------------------------------
| Net finance | (40) | (141) | (213) | (308) |
| costs | | | | |
--------------------------------------------------------------------------------
| Share of | 54 | 75 | 25 | 25 |
| profit (loss | | | | |
| )of | | | | |
| associates | | | | |
--------------------------------------------------------------------------------
| Profit | 2 281 | 3 631 | 2 190 | 3 311 |
| before | | | | |
| income tax | | | | |
--------------------------------------------------------------------------------
| Income tax | 193 | 357 | 342 | 342 |
| expense | | | | |
--------------------------------------------------------------------------------
| PROFIT FOR | 2 088 | 3 274 | 1 848 | 2 969 |
| THE YEAR | | | | |
--------------------------------------------------------------------------------
| Attributable | | | | |
| to: | | | | |
--------------------------------------------------------------------------------
| Equity | 2 084 | 3 260 | 1 808 | 2 904 |
| holders of | | | | |
| the Group | | | | |
--------------------------------------------------------------------------------
| Minority | 4 | 14 | 40 | 65 |
| interest | | | | |
--------------------------------------------------------------------------------
| Basic and | 0,11 | 0,18 | 0,16 | 0,25 |
| diluted | | | | |
| earings per | | | | |
| share for | | | | |
| profit | | | | |
| attributale | | | | |
| to the | | | | |
| equity | | | | |
| holders of | | | | |
| the Company | | | | |
--------------------------------------------------------------------------------
Additional information:
Priit Leito
Manager
AS Ekspress Grupp
Tel: 6698080
E-mail: priit@egrupp.ee