Skano Group Annual Financial Report 28.04.2015

Pärnu, 2015-04-28 15:12 CEST (GLOBE NEWSWIRE) --


The Supervisory Board of Skano Group AS approved on the 28th of April 2015 the annual report and proposal
for covering of loss for the year 2014 of Skano Group AS.

In 2014, the consolidated revenue of Skano Group AS totalled to 20.3 million euros (2013: 19.2 million euros).
In 2014, the net loss from operating activities totalled -1.5 million euros as opposed to the net loss of -0.7 million euros in 2013. In 2014, the net loss per share of Skano Group AS was -0.33 euros and in 2013 was -0.16 euros. Sales increased by 6.0% in 2014 as compared to 2013, the consolidated operating loss was -1.199 thousand euros and the gross margin was 13.2%. In 2013, the operating loss was -467 thousand euros and the gross margin was 15.5%. The loss for the year 2014 included a one-time non-cash expense associated with the impairment losses recognised on the assets of the Püssi fibreboard factory in the amount of 925 thousand euros.

In 2014, EBITDA of the Group was negative, -0.3 million euros, and in the same period of last year 0.4 million
euros. The consolidated net loss was -1.5 million euros as compared to the net loss of -0.7 million euros in 2013
and the net margin was -7.3% (as compared to -3.7% in 2013).

Proposal for covering of loss: to cover the loss with retained earnings.

The audited Annual Report 2014 of Skano Group AS is also available on company’s web page
http://www.skano.com


Martin Kalle
CEO
+372 447 8331
This email address is being protected from spambots. You need JavaScript enabled to view it.


Skano Group 2014 eng.pdf