Published: 2020-10-30 16:42:51 CET
UPP & CO Kauno 53
Interim information

UPP & CO Kauno 53 OÜ consolidated unaudited financial results for Q3 and 9 months of 2020

Important events

Apart from the COVID-19 outbreak, there were no significant events or changes in the Company or the Group during the reporting period. There were no changes or major events in the logistics center or its tenants during the reporting period.

No significant R&D projects or related expenditures are foreseen in the current or subsequent periods. Nor has the Group entered into any commitments or guarantees that could materially affect the results of the next financial periods.

As of the end of the reporting period the property is fully leased.

Comment on economic performance and management report

Net rental income was 325 693 euros for the third quarter of 2020 (2019 third quarter: 320 908). Operating profit was 254 848 euros for the third quarter of 2020 (2019 third quarter: 256 037). Net income was 99 323 euros for the third quarter of 2020 (2019 third quarter: 146 165).

The consolidation group is profitable and the increase in 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.

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 2020.

 

Financial ratios of the Group   2020 9 months 2019 9 months
Debt to equity ratio   8,74 12,56
Debt ratio 0,91 0,94
Long-term debt ratio 0,89 0,92
Return on equity %   19,69% 20,74%
Equity ratio   0,09 0,06
Return on assets %   1,73% 1,31%

 

Management board and Supervisory board

The management board of UPP & CO Kauno 53 OÜ consists of one member: Marko Tali, Chairman of the Management Board.

The supervisory board of UPP & CO Kauno 53 OÜ consists of three members: Mart Tooming, Tarmo Rooteman, Hallar Loogma.

No remuneration or other benefits are provided to the members of the management board and the supervisory board.

Other than the management board and the supervisory board, the Company has no employees.

Member of Management Board

Marko Tali

 

CONSOLIDATED INTERIM ANNUAL ACCOUNTS

CONSOLIDATED BALANCE SHEET

(EUR)

  30.09.2020   30.09.2019  
         
Cash 360,058   300,531  
Receivables and prepayments 143,846   11,226  
Total current assets 503,904   311,757  
         
Investment properties 15,750,000   15,700,000  
Tangible fixed assets 8,938   15,888  
Goodwill 693,779   907,247  
Total fixed assets 16,452,717   16,623,135  
         
TOTAL ASSETS 16,956,621   16,934,892  
         
Short-term loans payable 460,000   460,000  
Payables and prepayments 174,475   120,981  
Total current liabilities 634,475   603,213  
         
Long-term loans payable 12,540,184   13,000,189  
Long-term provisions 2,295,255   2,281,949  
Total non-current liabilities 14,835,439   15,282,138  
         
TOTAL LIABILITIES 15,469,914   15,863,119  
         
Share capital 2,500   2,500  
Retained earnings 1,484,207   1,069,273  
TOTAL EQUITY 1,486,707   1,071,773  
         
TOTAL LIABILITIES AND EQUITY 16,956,621   16,934,892  

 

CONSOLIDATED INCOME STATEMENT

(EUR)

    2020
3Q
  2020
9 months
  2019
3Q
  2019
9 months
                 
Sales revenue   326,693   979,782   320,908   967,559
                 
Other operating expenses   -15 965   −56,436   -9,467   −35,035
Staff costs   -80   −240   -84   −252
Depreciation of fixed assets   -54 800   −165,212   -55,320   −166,324
                 
Operating profit   254,848   757,894   256,037   765,948
                 
Financial income (expenses)   -138,577   −416,420   -141,390   −422,094
                 
Profit before income tax   116,271   341,474   114,647   343,854
Income tax   -16,948   −48,684   -38,524   −121,566
Net profit for financial year   99,323   292,790   76,123   222,288
                 
including the share of the owners of the parent company in net profit    99,323   292,790    76,123   222,288

   

         Siim Sild
         Director
         +372 5626 0107
         siim.sild@unitedpartners.ee


K53 cons. vahearuanne 30.09.2020+ENG.pdf