UPP & CO Kauno 53
Interim informationCorrection: UPP & CO Kauno 53 OÜ Q3 and 9 months of 2019 consolidated interim report (unaudited)
Following is a correction to the interim report published by the company on 4th of Novermber 2019. With this correction, the company has made adjustments to the interim report to meet the reporting requirements established by the exchange, by addiding additional annexes to the interim report.
Comment on economic performance and management report
During the Q3 2019 the company achieved EUR 256,037 in operating profit and for the first three quarters of 2019 the company achieved EUR 765,948 in total operating profit. Compared with same reporting periods from the previous year, the third quarter operating profit has decreased by 16% and operating profit for first three quarters of 2019 has decreased by 15% in total.. The lower operating profit for the reporting period was caused due to increased depreciation of fixed assets. Upon the acquisition of the subsidiary Promalita UAB, the Company acquired goodwill and, due to the depreciation thereof, the depreciation of fixed assets has increased which has had effect on the company’s bottom line.
In other aspects, the company’s financial results are stable and have remained similar to the compared reporting period. The Company is profitable and the accumulation of retained earnings ensures the required flexibility for bond redemption in the future. The Company is not planning to disburse the retained earnings before bond redemption. The Company has gradually reduced its obligation towards OP Bank, which strengthens the cash flow of the Company and provides the fundamentals for increase in profitability in the future. The value of the investment property of the Company has increased by 2.3%.
No significant events other than regular operating activities, including the timely receipt of rent and utility charges, took place as of the end of the third quarter of 2019.
There are no vacancies on the investment property as of the end of the reporting period.
CONSOLIDATED INTERIM ANNUAL ACCOUNTS
CONSOLIDATED BALANCE SHEET
(EUR)
|
|
30.09.2019 |
|
30.09.2018 |
|
Note |
|
|
|
|
|
|
|
|
Cash |
300 531 |
|
56 741 |
|
2 |
|
Receivables and prepayments |
11 226 |
|
13 276 |
|
|
|
Total current assets |
311 757 |
|
70 017 |
|
|
|
|
|
|
|
|
|
|
Investment properties |
15 700 000 |
|
15 350 000 |
|
4 |
|
Tangible fixed assets |
15 888 |
|
25 995 |
|
|
|
Goodwill |
907 247 |
|
1 280 818 |
|
5 |
|
Total fixed assets |
16 623 135 |
|
16 656 813 |
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS |
16 934 892 |
|
16 726 830 |
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|
|
|
|
|
|
|
|
|
Short-term loans payable |
460 000 |
|
115 000 |
|
6 |
|
Payables and prepayments |
120 981 |
|
122 483 |
|
7 |
|
Total current liabilities |
603 213 |
|
575 812 |
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|
|
|
|
|
|
|
|
|
Long-term loans payable |
13 000 189 |
|
13 765 183 |
|
6 |
|
Long-term provisions |
2 281 949 |
|
2 131 689 |
|
8 |
|
Total non-current liabilities |
15 282 138 |
|
15 896 872 |
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES |
15 863 119 |
|
16 134 355 |
|
|
|
|
|
|
|
|
|
|
Share capital |
2 500 |
|
2 500 |
|
9 |
|
Retained earnings |
1 069 273 |
|
589 975 |
|
|
|
TOTAL EQUITY |
1 071 773 |
|
592 475 |
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES AND EQUITY |
16 934 892 |
|
16 726 830 |
|
|
CONSOLIDATED INCOME STATEMENT
(EUR), per year
|
|
|
2019 9 months |
|
2019 3Q |
|
2018 9 monts |
|
2018 3Q |
|
Note |
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales revenue |
967 559 |
|
320 908 |
|
927 604 |
|
312 924 |
|
10 |
|
Other operating revenue |
0 |
|
0 |
|
6716 |
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other operating expenses |
-35 035 |
|
-9 467 |
|
-16 410 |
|
-3 466 |
|
11 |
|
Staff costs |
|
-252 |
|
-84 |
|
-957 |
|
-81 |
|
|
|
Depreciation of fixed assets |
-166 324 |
|
-55 320 |
|
-12 316 |
|
-3 895 |
|
5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit |
765 948 |
|
256 037 |
|
904 637 |
|
305 482 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial income (expenses) |
-422 094 |
|
-141 390 |
|
-430 710 |
|
-142 074 |
|
12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit before income tax |
343 854 |
|
114 647 |
|
473 927 |
|
163 408 |
|
|
|
Income tax |
|
-121 566 |
|
-38 524 |
|
-119 940 |
|
-40 498 |
|
13 |
|
Net profit for financial year |
222 288 |
|
76 123 |
|
353 987 |
|
122 910 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
including the share of the owners of the parent company in net profit |
222 288 |
|
76 123 |
|
353 987 |
|
122 910 |
|
|
Siim Sild
Director
+372 5626 0107
siim.sild@unitedpartners.ee
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