Comment on Q3 and 9 months of 2024 economic performance
Sales revenue was 338 kEUR in 3Q 2024 (330 kEUR in 3Q 2023) and 1.02 mEUR for the nine months of 2024 (990 kEUR for 9 months of 2023).
Operating profit was 277 kEUR in 3Q 2024 (250 kEUR in 3Q 2023) and 895 kEUR for the nine months of 2024 (753 kEUR for 9 months of 2023). EBITDA was 277 kEUR in 3Q 2024 (303 kEUR in 3Q 2023) and 895 kEUR for the 9 months of 2024 (914 kEUR for 9 months of 2023).
Net income was 55 kEUR in 3Q 2024 (69 kEUR in 3Q 2023) and 304 kEUR for the nine months of 2024 (236 kEUR for 9 months 2023).
The higher operating and net profit for the reporting period resulted from the absence of amortization costs related to goodwill during the reporting period, as the goodwill had been fully amortized by December 31, 2023. Lower EBITDA and net profit for the reporting period were due to asphalt road repair costs incurred during the reporting period.
| Financial ratios of the Group |
9 months 2024 |
9 months 2023 |
| Debt to equity ratio | 3.23 | 3.92 |
| Debt ratio | 0.80 | 0.83 |
| Long-term debt ratio | 0.76 | 0.68 |
| Return on equity % | 9.15% | 8.03% |
| Equity ratio | 0.20 | 0.17 |
| Return on assets % | 1.85% | 1.40% |
Management board
The management board of UPP & CO Kauno 53 OÜ consists of one member: Marko Tali, Chairman of the Management Board.
No remuneration or other benefits are provided to the members of the management board.
The management board of Promalita UAB has also one member: Siim Sild, who receives symbolic remuneration.
Other than the management board, the Company has no employees.
UPP & CO Kauno 53 OÜ and its subsidiary Promalita UAB are a going concern.
Member of Management Board
Marko Tali
CONSOLIDATED INTERIM ANNUAL ACCOUNTS
CONSOLIDATED BALANCE SHEET
| (EUR) | 30.09.2024 | 30.09.2023 | |
| Cash | 258,338 | 633,374 | |
| Receivables and prepayments | 16,471 | 16,663 | |
| Total current assets | 274,809 | 650,037 | |
| Investment properties | 16,150,000 | 16,150,000 | |
| Tangible fixed assets | 12 | 12 | |
| Goodwill | 0 | 53,375 | |
| Total fixed assets | 16,150,012 | 16,203,387 | |
| TOTAL ASSETS | 16,424,821 | 16,853,424 | |
| Short-term loans payable | 460,000 | 5,160,000 | |
| Payables and prepayments | 80,366 | 93,948 | |
| Total current liabilities | 540,366 | 5,253,948 | |
| Long-term loans payable | 10,260,184 | 6,360,184 | |
| Long-term provisions | 2,304,400 | 2,299,597 | |
| Total non-current liabilities | 12,564,584 | 8,659,781 | |
| TOTAL LIABILITIES | 13,104,950 | 13,913,729 | |
| Share capital | 2,500 | 2,500 | |
| Retained earnings | 3,317,371 | 2,937,195 | |
| TOTAL EQUITY | 3,319,871 | 2,939,695 | |
| TOTAL LIABILITIES AND EQUITY | 16,424,821 | 16,853,424 |
CONSOLIDATED INCOME STATEMENT
| (EUR) |
2024 Q3 |
2024 9 months |
2023 Q3 |
2023 9 months |
|||
| Sales revenue | 337,947 | 1,020,412 | 330,022 | 990,231 | |||
| Cost of goods sold | -36,672 | -49,510 | -3,392 | -11,031 | |||
| Other operating expenses | -23,758 | -75,242 | -23,456 | -64,787 | |||
| Staff costs | -129 | -387 | -126 | -384 | |||
| Depreciation of fixed assets | 0 | 0 | -53,367 | -160,493 | |||
| Operating profit | 277,388 | 895,273 | 249,681 | 753,536 | |||
| Financial income (expenses) | -207,900 | -539,309 | -171,630 | -484,956 | |||
| Profit before income tax | 69,488 | 355,964 | 78,051 | 268,580 | |||
| Income tax | -14,182 | -52,093 | -8,600 | -32,631 | |||
| Net profit for financial year | 55,306 | 303,871 | 69,451 | 235,949 | |||
| incl. net profit share of the owners of the parent company | 55,306 | 303,871 | 69,451 | 235,949 |