Apranga Group interim information for 12 months of 2019
The unaudited consolidated profit before income tax of Apranga Group amounted to EUR 10.8 million for 12 months of 2019, while Apranga Group has made the profit of EUR 9.3 million in the same period of 2018 (the increase by 16%). The unaudited consolidated profit before income tax of the Group amounted to EUR 3.5 million in Q4 2019, comparing to EUR 3.4 million in Q4 2018 (the increase by 3%).
From 1st January 2019, the Company implemented a new International Financial Reporting Standard (IFRS) 16 “Leases”. Due to the application of this standard, the Group’s and Company’s rent expenses decreased but depreciation and amortization charges and interest expenses increased. Accordingly, it also influenced the calculation of indicators. The negative impact of IFRS 16 “Leases” on the Group's profit before tax amounted to EUR 724 thousand in 12 months of 2019.
EBITDA of Apranga Group reached EUR 30.8 million for 12 months 2019 and increased by 98 percent comparing to corresponding the year 2018 period. Q4 2019 EBITDA was EUR 8.9 million, the increase by 80% compared to Q4 2018. The positive impact of IFRS 16 “Leases” on the Group's 12 months 2019 EBITDA ratio was EUR 13.6 million (EUR 3.7 million positive impact on the Group's Q4 2019 EBITDA ratio).
The unaudited interim consolidated financial statements of Apranga Group for 12 months of 2019, as well as managers’ confirmation letter are ready for acquaintance in the attachments. The interim information is also available at: http://aprangagroup.lt/en/investors.
Apranga Group CFO
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