The Supervisory Board of AS Viisnurk approved on 18 April 2012 the annual report and profit allocation proposal for the year 2011 of AS Viisnurk.

In 2011, the revenue of AS Viisnurk totalled 17.3 million euros and in 2010, 13.9 million euros. In 2011, the net profit of AS Viisnurk amounted to 2.6 million euros. As a comparison, the net profit in 2010 totalled 0.8 million euros. In 2011, the earnings per share of Viisnurk were 0.57 euros and in 2010, 0.17 euros. In 2011, the sales of comparable entities (Pärnu fibreboard factory, furniture factory and retail chain Skano) was 16.2 million euros (growth of 16% as compared to 2010), their consolidated operating profit was 1.0 million euros (2010: 0.9 million euros), and the gross margin was 23.1% (2010: 23.4%).

In 2011, EBITDA of the Group amounted to 3.4 million euros (2010: 1.4 million euros). The consolidated net profit was 2.6 million euros (2010: 0.8 million euros) and net margin was 14.8% (2010: 5.5%). The results for 2011 were mostly impacted by one-off profit of 2.46 million euros from the discounted purchase of Püssi fibreboard factory.

The disclosure of benefits (incl. tax expenses) granted to the members of the management and supervisory boards have been widened to include all the management supervisory boards of consolidation group entities, in connection with that the comparative information of the previous period has been restated.

Profit allocation proposal: not to distribute the profit.

The audited Annual Report 2011 of AS viisnurk is available on company's web page http://www.viisnurk.ee.

Einar Pähkel
CFO
+372 447 8331
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