Key financial indicators and ratios in 2017-2021
Financial ratios (%) | 31.12.2021 | 31.12.2020 | 31.12.2019 | 31.12.2018 | 31.12.2017 |
---|---|---|---|---|---|
Equity ratio (%) | 57% | 58% | 54% | 66% | 69% |
Debt to equity ratio (%) | 41% | 41% | 47% | 31% | 29% |
Debt to capital ratio (%) | 17% | 23% | 29% | 22% | 21% |
Total debt/EBITDA ratio | 2.70 | 3.17* | 3.59* | 3.63* | 2.44* |
Liquidity ratio | 0.98 | 0.98 | 0.90 | 1.13 | 1.65 |
* For years 2020-2017 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) | 2021 | 2020 | 2019 | 2018 | 2017 |
---|---|---|---|---|---|
Sales revenue | 53 516 | 44 514 | 44 717 | 37 879 | 32 180 |
Cost of sales | (39 674) | (34 014) | (33 210) | (28 135) | (24 250) |
Gross profit | 13 842 | 10 501 | 11 507 | 9 744 | 7 931 |
Other income | 929 | 1 691 | 601 | 382 | 1 372 |
Marketing expenses | (2 359) | (1 905) | (2 175) | (2 231) | (2 103) |
Administrative expenses | (7 435) | (6 930) | (7 468) | (6 993) | (5 367) |
Other expenses | (113) | (286) | (129) | (52) | (67) |
Operating profit | 4 864 | 3 071 | 2 337 | 850 | 1 766 |
Interest income | 35 | 28 | 24 | 143 | 173 |
Interest expenses | (709) | (860) | (1 085) | (721) | (653) |
Other finance income/ (costs) | 339 | 634 | (29) | (103) | 118 |
Net finance cost | (335) | (198) | (1 090) | (681) | (362) |
Profit (loss) on shares of joint ventures | (281) | 102 | (38) | (273) | (2) |
Profit (loss) on shares of associates | 161 | (129) | (114) | (234) | (68) |
Profit before income tax | 4 409 | 2 846 | 1 093 | (338) | 1 334 |
Income tax expenses | (276) | (280) | (339) | (276) | (344) |
Net profit from continuing operations | 4 133 | 2 566 | 755 | (614) | 991 |
Net profit/(loss) from discontinued operation | (1 876) | (30) | 652 | 639 | 2 155 |
Net profit for the reporting period | 2 257 | 2 536 | 1 407 | 25 | 3 146 |
Net profit for the reporting period attributable to | |||||
Equity holders of the parent company | 2 243 | 2 510 | 1 394 | 6 | 3 140 |
Minority shareholders | 14 | 26 | 13 | 19 | 6 |
Total comprehensive income | 2 257 | 2 536 | 1 407 | 25 | 3 146 |
Comprehensive income for the reporting period attributable to | |||||
Equity holders of the parent company | 2 243 | 2 510 | 1 394 | 6 | 3 140 |
Minority shareholders | 14 | 26 | 13 | 19 | 6 |
Consolidated balance sheet
(EUR thousand) | 31.12.2021 | 31.12.2020 | 31.12.2019 | 31.12.2018 | 31.12.2017 |
---|---|---|---|---|---|
ASSETS | |||||
Current assets | |||||
Cash and cash equivalents | 10 962 | 6 269 | 3 647 | 1 268 | 1 073 |
Trade and other receivables | 9 323 | 9 450 | 12 705 | 9 154 | 9 917 |
Corporate income tax prepayment | 2 | 7 | 0 | 27 | 4 |
Inventories | 266 | 2 756 | 3 120 | 3 382 | 2 832 |
Total current assets | 20 553 | 18 482 | 19 472 | 13 831 | 13 827 |
Non-current assets | |||||
Other receivables and investments | 1 671 | 982 | 975 | 1 588 | 1 750 |
Deferred tax asset | 42 | 30 | 38 | 44 | 47 |
Investments in joint ventures | 1 011 | 1 661 | 1 254 | 2 345 | 2 372 |
Investments in associates | 2 210 | 2 253 | 2 356 | 319 | 354 |
Property, plant and equipment | 7 964 | 14 134 | 14 943 | 11 921 | 12 189 |
Intangible assets | 60 807 | 56 635 | 56 369 | 46 691 | 45 419 |
Total non-current assets | 73 705 | 75 696 | 75 935 | 62 907 | 62 130 |
TOTAL ASSETS | 94 258 | 94 177 | 95 407 | 76 738 | 75 957 |
LIABILITIES | |||||
Current liabilities | |||||
Borrowings | 3 201 | 3 613 | 5 100 | 1 356 | 166 |
Trade and other payables | 17 664 | 15 251 | 16 483 | 10 801 | 8 095 |
Corporate income tax payable | 82 | 81 | 65 | 29 | 111 |
Total current liabilities | 20 947 | 18 945 | 21 647 | 12 186 | 8 372 |
Non-current liabilities | |||||
Long-term borrowings | 19 018 | 18 589 | 19 242 | 14 118 | 15 091 |
Other long-term liabilities | 601 | 2 024 | 2 895 | 0 | 0 |
Total non-current liabilities | 19 619 | 20 612 | 22 137 | 14 118 | 15 091 |
TOTAL LIABILITIES | 40 566 | 39 557 | 43 784 | 26 304 | 23 463 |
EQUITY | |||||
Minority interest | 140 | 126 | 100 | 87 | 68 |
Capital and reserves attributable to equity holders of parent company: | |||||
Share capital | 18 478 | 18 478 | 17 878 | 17 878 | 17 878 |
Share premium | 14 277 | 14 277 | 14 277 | 14 277 | 14 277 |
Treasury shares | (384) | (209) | (22) | (22) | (22) |
Reserves | 1 920 | 1 758 | 1 688 | 1 688 | 1 531 |
Retained earnings | 19 261 | 20 189 | 17 701 | 16 526 | 18 762 |
Total capital and reserves attributable to equity holders of parent company | 53 552 | 54 494 | 51 522 | 50 347 | 52 426 |
TOTAL EQUITY | 53 692 | 54 620 | 51 622 | 50 434 | 52 494 |
TOTAL LIABILITIES AND EQUITY | 94 258 | 94 177 | 95 407 | 76 738 | 75 957 |
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 /EBITDA |
Liquidity ratio | Current assets / current liabilities |