Financial Indicators – Ekspress Grupp

Key financial indicators and ratios in 2019-2023

Financial ratios (%)	31.12.2023	31.12.2022	31.12.2021	31.12.2020	31.12.2019
Equity ratio (%)	53%	56%	57%	58%	54%
Debt to equity ratio (%)	46%	46%	41%	41%	47%
Debt to capital ratio (%)	23%	24%	17%	23%	29%
Total debt/EBITDA ratio	1.97	2.34	2.07	2.74*	3.15*
Liquidity ratio	0.84	0.87	0.98	0.98	0.90

* For years 2010-2019 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)	2023	2022	2021	2020	2019
Sales revenue	73 086	64 141	53 516	44 514	44 717
Cost of sales	(55 046)	(48 185)	(39 674)	(34 014)	(33 210)
Gross profit	18 040	15 956	13 842	10 501	11 507
Other income	581	789	929	1 691	601
Marketing expenses	(2 803)	(2 979)	(2 359)	(1 905)	(2 175)
Administrative expenses	(9 582)	(8 823)	(7 435)	(6 930)	(7 468)
Other expenses	(737)	(146)	(113)	(286)	(129)
Operating profit	5 499	4 797	4 864	3 071	2 337
Interest income	60	36	35	28	24
Interest expenses	(1 499)	(738)	(709)	(860)	(1 085)
Other finance income/ (costs)	(55)	179	339	634	(29)
Net finance cost	(1 494)	(523)	(335)	(198)	(1 090)
Profit (loss) on shares of joint ventures	(661)	(242)	(281)	102	(38)
Profit (loss) on shares of associates	239	325	161	(129)	(114)
Profit before income tax	3 583	4 357	4 409	2 846	1 093
Income tax expenses	(232)	(302)	(276)	(280)	(339)
Net profit from continuing operations	3 351	4 055	4 133	2 566	755
Net profit/(loss) from discontinued operation	0	0	(1 876)	(30)	652
Net profit for the reporting period	3 351	4 055	2 257	2 536	1 407
Net profit for the reporting period attributable to
Equity holders of the parent company	3 349	4 048	2 243	2 510	1 394
Minority shareholders	2	7	14	26	13
Total comprehensive income	3 351	4 055	2 257	2 536	1 407
Comprehensive income for the reporting period attributable to
Equity holders of the parent company	3 349	4 048	2 243	2 510	1 394
Minority shareholders	2	7	14	26	13

Consolidated balance sheet

(EUR thousand)	31.12.2023	31.12.2022	31.12.2021	31.12.2020	31.12.2019
ASSETS
Current assets
Cash and cash equivalents	9 606	7 448	10 962	6 269	3 647
Trade and other receivables	13 143	11 661	9 323	9 450	12 705
Corporate income tax prepayment	24	49	2	7	0
Inventories	321	286	266	2 756	3 120
Total current assets	23 094	19 444	20 553	18 482	19 472
Non-current assets
Other receivables and investments	1 628	1 580	1 671	982	975
Deferred tax asset	130	60	42	30	38
Investments in joint ventures	851	1 017	1 011	1 661	1 254
Investments in associates	2 197	2 279	2 210	2 253	2 356
Property, plant and equipment	10 384	8 736	7 964	14 134	14 943
Intangible assets	67 482	66 720	60 807	56 635	56 369
Total non-current assets	82 672	80 392	73 705	75 696	75 935
TOTAL ASSETS	105 766	99 836	94 258	94 177	95 407
LIABILITIES
Current liabilities
Borrowings	4 353	3 393	3 201	3 613	5 100
Trade and other payables	23 046	19 004	17 664	15 251	16 483
Corporate income tax payable	39	25	82	81	65
Total current liabilities	27 438	22 422	20 947	18 945	21 647
Non-current liabilities
Long-term borrowings	21 765	21 948	19 018	18 589	19 242
Other long-term liabilities	22	43	601	2 024	2 895
Total non-current liabilities	21 787	21 991	19 619	20 612	22 137
TOTAL LIABILITIES	49 225	44 413	40 566	39 557	43 784
EQUITY
Minority interest	0	147	140	126	100
Capital and reserves attributable to equity holders of parent company:
Share capital	18 478	18 478	18 478	18 478	17 878
Share premium	14 277	14 277	14 277	14 277	14 277
Treasury shares	(1 057)	(334)	(384)	(209)	(22)
Reserves	2 285	2 059	1 920	1 758	1 688
Retained earnings	22 558	20 796	19 261	20 189	17 701
Total capital and reserves attributable to equity holders of parent company	56 541	55 276	53 552	54 494	51 522
TOTAL EQUITY	56 541	55 423	53 692	54 620	51 622
TOTAL LIABILITIES AND EQUITY	105 766	99 836	94 258	94 177	95 407

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