Financial Indicators – Ekspress Grupp

Key financial indicators and ratios in 2020-2024

Financial ratios (%)	31.12.2024	31.12.2023	31.12.2022	31.12.2021	31.12.2020
Equity ratio (%)	51%	53%	56%	57%	58%
Debt to equity ratio (%)	49%	46%	46%	41%	41%
Debt to capital ratio (%)	25%	23%	24%	17%	23%
Total debt/EBITDA ratio	2.67	2.56	2.85	2.70	3.17*
Liquidity ratio	0.74	0.84	0.87	0.98	0.98

* For 2020 total debt/EBITDA ratio is calculated on the basis of EBITDA, which also includes EBITDA from discontinued operations.

Consolidated statement of comprehensive income

(EUR thousand)	2024	2023	2022	2021	2020
Sales revenue	76 170	73 086	64 141	53 516	44 514
Cost of sales	(58 209)	(55 046)	(48 185)	(39 674)	(34 014)
Gross profit	17 961	18 040	15 956	13 842	10 501
Other income	959	581	789	929	1 691
Marketing expenses	(3 369)	(2 803)	(2 979)	(2 359)	(1 905)
Administrative expenses	(10 530)	(9 582)	(8 823)	(7 435)	(6 930)
Other expenses	(164)	(737)	(146)	(113)	(286)
Operating profit	4 857	5 499	4 797	4 864	3 071
Interest income	117	60	36	35	28
Interest expenses	(1 836)	(1 499)	(738)	(709)	(860)
Other finance income/ (costs)	(58)	(55)	179	339	634
Net finance cost	(1 777)	(1 494)	(523)	(335)	(198)
Profit (loss) on shares of joint ventures	318	(661)	(242)	(281)	102
Profit (loss) on shares of associates	471	239	325	161	(129)
Profit before income tax	3 869	3 583	4 357	4 409	2 846
Income tax expenses	(617)	(232)	(302)	(276)	(280)
Net profit from continuing operations	3 252	3 351	4 055	4 133	2 566
Net profit/(loss) from discontinued operation	0	0	0	(1 876)	(30)
Net profit for the reporting period	3 252	3 351	4 055	2 257	2 536
Net profit for the reporting period attributable to
Equity holders of the parent company	3 252	3 349	4 048	2 243	2 510
Minority shareholders	0	2	7	14	26
Total comprehensive income	3 252	3 351	4 055	2 257	2 536
Comprehensive income for the reporting period attributable to
Equity holders of the parent company	3 252	3 349	4 048	2 243	2 510
Minority shareholders	0	2	7	14	26

Consolidated balance sheet

(EUR thousand)	31.12.2024	31.12.2023	31.12.2022	31.12.2021	31.12.2020
ASSETS
Current assets
Cash and cash equivalents	8 971	9 606	7 448	10 962	6 269
Trade and other receivables	14 394	13 143	11 661	9 323	9 450
Corporate income tax prepayment	170	24	49	2	7
Inventories	373	321	286	266	2 756
Total current assets	23 908	23 094	19 444	20 553	18 482
Non-current assets
Other receivables and investments	1 775	1 628	1 580	1 671	982
Deferred tax asset	71	130	60	42	30
Investments in joint ventures	872	851	1 017	1 011	1 661
Investments in associates	2 464	2 197	2 279	2 210	2 253
Property, plant and equipment	10 834	10 384	8 736	7 964	14 134
Intangible assets	74 112	67 482	66 720	60 807	56 635
Total non-current assets	90 128	82 672	80 392	73 705	75 696
TOTAL ASSETS	114 036	105 766	99 836	94 258	94 177
LIABILITIES
Current liabilities
Borrowings	5 309	4 353	3 393	3 201	3 613
Trade and other payables	27 014	23 046	19 004	17 664	15 251
Corporate income tax payable	36	39	25	82	81
Total current liabilities	32 359	27 438	22 422	20 947	18 945
Non-current liabilities
Long-term borrowings	23 232	21 765	21 948	19 018	18 589
Other long-term liabilities	5	22	43	601	2 024
Total non-current liabilities	23 237	21 787	21 991	19 619	20 612
TOTAL LIABILITIES	55 596	49 225	44 413	40 566	39 557
EQUITY
Minority interest	0	0	147	140	126
Capital and reserves attributable to equity holders of parent company:
Share capital	18 576	18 478	18 478	18 478	18 478
Share premium	14 295	14 277	14 277	14 277	14 277
Treasury shares	(5)	(1 057)	(334)	(384)	(209)
Reserves	2 364	2 285	2 059	1 920	1 758
Retained earnings	23 210	22 558	20 796	19 261	20 189
Total capital and reserves attributable to equity holders of parent company	58 440	56 541	55 276	53 552	54 494
TOTAL EQUITY	58 440	56 541	55 423	53 692	54 620
TOTAL LIABILITIES AND EQUITY	114 036	105 766	99 836	94 258	94 177

Formulas used to calculate the financial ratios
Equity ratio (%)	Equity/ (liabilities + equity) x100
Debt to equity ratio (%)	Interest bearing liabilities /equity x 100
Debt to capital ratio (%)	Interest bearing liabilities – cash and cash equivalents (net debt) /(net debt +equity) x 100
Total debt/EBITDA ratio	Interest bearing borrowings (excl rental liabilities according to IFRS 16) / EBITDA Interest bearing borrowings /EBITDA
Liquidity ratio	Current assets / current liabilities