Pro Kapital Grupp
CONSOLIDATED INTERIM REPORT FOR I QUARTER AND 3 MONTHS OF 2015 (UNAUDITED)
DGAP-News: Pro Kapital Grupp 2015-05-19 / 21:03 --------------------------------------------------------------------- During the first quarter of 2015 Pro Kapital continued the construction works in two of its new residential development projects - Šaltinių Namai in Vilnius and Tondi Quarter in Tallinn. In the framework of Peterburi 2 shopping centre development in Tallinn the tender process for choosing the main contractor was carried on and the Company continued to sign the lease agreements for the premises. Total revenue for three months of 2015 was 3,1 million euros, a decrease of 1% compared to the reference period (2014 3 months: 3,2 million euros). Net operating result during three months decreased by 0,2 million euros (31%) compared to the reference period, totalling to losses of 0,7 million euros (2014 3 months loss of 0,6 million euros). Net result for three months of 2015 has decreased by 0,2 million euros (27%) compared to the reference period, totalling to losses of 1,2 million euros (2014 3 months loss of 0,9 million euros). Presales for Vilnius Šaltinių Namai project and Tallinn's Tondi residential quarter have been successfully continued. At the moment of issuing interim report 18 premises out of 19 in Vilnius K7 building have been sold (notary deeds concluded for 9 of them) and reservations for 13 apartments out of 44 in K4-1 building have been signed. In Tallinn, Tondi quarter, by the moment of issuing the present report the first building has been completed, 19 apartments have been handed over to the clients and 9 out of 31 apartments are yet on sale. In the second building 11 presale agreements and in the 3rd building 1 presale agreement have been signed. Key financial figures 2015 3M 2014 3M Revenue, th EUR 3 135 3 161 Gross profit, th EUR 597 763 Gross profit, % 19% 24% Operating result, th EUR -722 -551 Operating result, % -23% -17% Net result, th EUR -1 158 -910 Net result, % -37% -29% Earnings per share, EUR -0,02 -0,02 31.03.2015 31.12.2014 31.03.2014 Total Assets, th EUR 123 764 125 031 96 815 Total Liabilities, th EUR 39 752 39 243 33 032 Total Equity, th EUR 84 012 85 788 63 783 Debt/ Equity * 0,47 0,46 0,52 Return on Assets, % ** -0,9% -0,7% -0,9% Return on Equity, % *** -1,4% -1,1% -1,4% Net asset value per share, EUR **** 1,55 1,59 1,18 Consolidated interim statements of financial position in thousands of euros Notes 31.03.2015 31.12.2014 --------------------------------------------------------------- --------------------------------------------------------------- ASSETS Current Assets Cash and cash equivalents 1 337 1 881 Current receivables 2 059 2 463 Inventories 14 482 14 535 ----------------------- ----------------------- Total Current Assets 17 878 18 879 Non-Current Assets Non-current receivables 45 150 Deferred tax assets 0 0 Property, plant and equipment 5 17 460 17 619 Investment property 6 88 110 88 110 Intangible assets 271 273 ----------------------- ----------------------- Total Non-Current Assets 105 886 106 152 TOTAL ASSETS 123 764 125 031 in thousands of euros Notes 31.03.2015 31.12.2014 --------------------------------------------------------------- --------------------------------------------------------------- LIABILITIES AND EQUITY Current Liabilities Current debt 7 16 798 16 348 Customer advances 1 403 1 548 Current payables 4 090 4 761 Taxes payable 414 177 Short-term provisions 5 5 ----------------------- ----------------------- Total Current Liabilities 22 710 22 839 Non-Current Liabilities Long-term debt 7 13 430 13 430 Other long-term liabilities 79 79 Deferred income tax liability 2 744 2 744 Long-term provisions 151 151 ----------------------- ----------------------- Total Non-Current Liabilities 17 042 16 404 TOTAL LIABILITIES 39 752 39 243 Equity attributable to equity holders of the parent Share capital in nominal value 10 821 10 821 Paid in capital 1 474 1 474 Statutory reserve 1 064 1 064 Revaluation reserve 9 389 9 389 Foreign currency differences -143 -143 Retained earnings 61 159 39 778 Profit (loss) for the period -1 166 21 381 -------------------- ------- Total equity attributable to equity holders of the parent 82 598 83 764 --------- Non-controlling interest 1 414 2 024 TOTAL EQUITY 84 012 85 788 TOTAL LIABILITIES AND EQUITY 123 764 125 031 Consolidated interim statements of comprehensive income in thousands of euros Notes 2015 3M 2014 3M ---------------------------------------- ----------------- Operating income Revenue 8 3 135 3 161 Cost of goods sold 9 -2 538 -2 398 ----------------- Gross profit 10 597 763 Marketing expenses -99 -116 Administrative expenses 11 -1 181 -1 204 Other income 45 76 Other expenses -84 -70 ----------------- Operating profit (loss) -722 -551 Financial income 12 2 32 Financial expense 12 -426 -386 ----------------- Profit (loss) before income tax -1 146 -905 Income tax -12 -5 ----------------- Net profit (loss) for the period -1 158 -910 Foreign exchange differences 0 0 Equity holders of the parent -1 166 -907 Non-controlling interest 8 -3 Earnings per share (EUR) 13 -0,02 -0,02 Diluted earnings per share (EUR) 13 -0,02 -0,02 Consolidated interim statements of cash flows in thousands of euros Note 2015 3M 2014 3M ------------------------------------------------------------------------------- Cash flows from operating activities Profit (loss) for the year -1 158 -910 Adjustments for: Depreciation and amortisation of non-current assets 5 173 195 Change in fair value of investment property 6 0 53 Gain/loss from sale of PPE 0 -2 Gain/loss from disposal of subsidiary 4 0 -17 Finance income and costs, net 12 424 354 Other non-monetary changes (net amounts) -175 -154 Movements in working capital: Change in trade receivables and prepayments 404 -53 Change in inventories 52 728 Change in liabilities and prepayments -580 161 Change in provisions 3 1 ----------------- Net cash generated by operating activities -857 356 Cash flows from investing activities Payments for property, plant and equipment 5 -6 -29 Proceeds from disposal of property, plant and equipment 0 6 Payments for investment property 6 -68 -53 Interest received 2 2 Net cash used in investing activities -72 -74 ----------------- Cash flows from financing activities Proceeds from borrowings 1 791 727 Repayment of borrowings -821 -1 446 Interest paid -585 -89 Net cash used in/ generated by financing activities 385 -808 ----------------- Net change in cash and cash equivalents -544 -526 Cash and cash equivalents at the beginning of the period 1 881 2 759 Cash and cash equivalents at the end of the period 1 337 2 233 Allan Remmelkoor Member of the Management Board Tel.: +372 6144 920 Email: allan.remmelkoor@prokapital.ee News Source: NASDAQ OMX --------------------------------------------------------------------- 2015-05-19 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Pro Kapital Grupp Estonia ISIN: EE3100006040 End of News DGAP News-Service --------------------------------------------------------------------- 359553 2015-05-19
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