Financial Indicators – Ekspress Grupp

Key financial indicators and ratios in 2017-2022

Financial ratios (%)	31.12.2022	31.12.2021	31.12.2020	31.12.2019	31.12.2018	31.12.2017
Equity ratio (%)	56%	57%	58%	54%	66%	69%
Debt to equity ratio (%)	46%	41%	41%	47%	31%	29%
Debt to capital ratio (%)	24%	17%	23%	29%	22%	21%
Total debt/EBITDA ratio	2.34	2.70	3.17*	3.59*	3.63*	2.44*
Liquidity ratio	0.87	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)	2022	2021	2020	2019	2018	2017
Sales revenue	64 141	53 516	44 514	44 717	37 879	32 180
Cost of sales	(48 185)	(39 674)	(34 014)	(33 210)	(28 135)	(24 250)
Gross profit	15 956	13 842	10 501	11 507	9 744	7 931
Other income	789	929	1 691	601	382	1 372
Marketing expenses	(2 979)	(2 359)	(1 905)	(2 175)	(2 231)	(2 103)
Administrative expenses	(8 823)	(7 435)	(6 930)	(7 468)	(6 993)	(5 367)
Other expenses	(146)	(113)	(286)	(129)	(52)	(67)
Operating profit	4 797	4 864	3 071	2 337	850	1 766
Interest income	36	35	28	24	143	173
Interest expenses	(738)	(709)	(860)	(1 085)	(721)	(653)
Other finance income/ (costs)	179	339	634	(29)	(103)	118
Net finance cost	(523)	(335)	(198)	(1 090)	(681)	(362)
Profit (loss) on shares of joint ventures	(242)	(281)	102	(38)	(273)	(2)
Profit (loss) on shares of associates	325	161	(129)	(114)	(234)	(68)
Profit before income tax	4 357	4 409	2 846	1 093	(338)	1 334
Income tax expenses	(302)	(276)	(280)	(339)	(276)	(344)
Net profit from continuing operations	4 055	4 133	2 566	755	(614)	991
Net profit/(loss) from discontinued operation	0	(1 876)	(30)	652	639	2 155
Net profit for the reporting period	4 055	2 257	2 536	1 407	25	3 146
Net profit for the reporting period attributable to
Equity holders of the parent company	4 048	2 243	2 510	1 394	6	3 140
Minority shareholders	7	14	26	13	19	6
Total comprehensive income	4 055	2 257	2 536	1 407	25	3 146
Comprehensive income for the reporting period attributable to
Equity holders of the parent company	4 048	2 243	2 510	1 394	6	3 140
Minority shareholders	7	14	26	13	19	6

Consolidated balance sheet

(EUR thousand)	31.12.2022	31.12.2021	31.12.2020	31.12.2019	31.12.2018	31.12.2017
ASSETS
Current assets
Cash and cash equivalents	7 448	10 962	6 269	3 647	1 268	1 073
Trade and other receivables	11 661	9 323	9 450	12 705	9 154	9 917
Corporate income tax prepayment	49	2	7	0	27	4
Inventories	286	266	2 756	3 120	3 382	2 832
Total current assets	19 444	20 553	18 482	19 472	13 831	13 827
Non-current assets
Other receivables and investments	1 580	1 671	982	975	1 588	1 750
Deferred tax asset	60	42	30	38	44	47
Investments in joint ventures	1 017	1 011	1 661	1 254	2 345	2 372
Investments in associates	2 279	2 210	2 253	2 356	319	354
Property, plant and equipment	8 736	7 964	14 134	14 943	11 921	12 189
Intangible assets	66 720	60 807	56 635	56 369	46 691	45 419
Total non-current assets	80 392	73 705	75 696	75 935	62 907	62 130
TOTAL ASSETS	99 836	94 258	94 177	95 407	76 738	75 957
LIABILITIES
Current liabilities
Borrowings	3 393	3 201	3 613	5 100	1 356	166
Trade and other payables	19 004	17 664	15 251	16 483	10 801	8 095
Corporate income tax payable	25	82	81	65	29	111
Total current liabilities	22 422	20 947	18 945	21 647	12 186	8 372
Non-current liabilities
Long-term borrowings	21 948	19 018	18 589	19 242	14 118	15 091
Other long-term liabilities	43	601	2 024	2 895	0	0
Total non-current liabilities	21 991	19 619	20 612	22 137	14 118	15 091
TOTAL LIABILITIES	44 413	40 566	39 557	43 784	26 304	23 463
EQUITY
Minority interest	147	140	126	100	87	68
Capital and reserves attributable to equity holders of parent company:
Share capital	18 478	18 478	18 478	17 878	17 878	17 878
Share premium	14 277	14 277	14 277	14 277	14 277	14 277
Treasury shares	(334)	(384)	(209)	(22)	(22)	(22)
Reserves	2 059	1 920	1 758	1 688	1 688	1 531
Retained earnings	20 796	19 261	20 189	17 701	16 526	18 762
Total capital and reserves attributable to equity holders of parent company	55 276	53 552	54 494	51 522	50 347	52 426
TOTAL EQUITY	55 423	53 692	54 620	51 622	50 434	52 494
TOTAL LIABILITIES AND EQUITY	99 836	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 (excl rental liabilities according to IFRS 16) / EBITDA Interest bearing borrowings /EBITDA
Liquidity ratio	Current assets / current liabilities