AS Silvano Fashion Group Consolidated Interim Financial Report For Q2 And 6M Of 2025 (Unaudited

2025-08-29 05:01:24

(MENAFN- GlobeNewsWire - Nasdaq) Selected Financial Indicators

Summarized selected financial indicators of the Group for 6 months of 2025 compared to 6 months of 2024 and 30.06.2025 compared to 31.12.2024 were as follows:

in thousands of EUR	06m 2025	06m 2024	Change
Revenue	28 428	30 145	-5.7%
Gross Profit	15 091	17 189	-12.2%
Operating profit	5 961	8 562	-30.4%
EBITDA	7 566	10 055	-24.8%
Net profit for the period	6 279	7 786	-19.4%
Net profit attributable equity holders of the Parent company	5 781	7 053	-18.0%
Earnings per share (EUR)	0,16	0,20	-20.0%
Operating cash flow for the period	3 481	4 137	-15.9%

in thousands of EUR	30.06.2025	31.12.2024	Change
Total assets	92 405	84 489	9.4%
Total current assets	78 392	70 871	10.6%
Total equity attributable to equity holders of the Parent company	72 852	65 993	10.4%
Cash and cash equivalents	5 881	7 683	-23.5%
Short-term deposits over 3 months	37 331	32 007	16.6%

Margin analysis, %	06m 2025	06m 2024	Change
Gross profit	53,1	57,0	-6.8%
Operating profit	21,0	28,4	-26.1%
EBITDA	26,6	33,4	-20.4%
Net profit	22,1	25,8	-14.3%
Net profit attributable to equity holders of the Parent company	20,3	23,4	-13.2%

Financial ratios, %	30.06.2025	31.12.2024	Change
ROA	12,8	15,8	-19.0%
ROE	16,3	20,6	-20.9%
Price to earnings ratio (P/E)	4,3	3,0	43.3%
Current ratio	7,5	6,6	13.6%
Quick ratio	4,5	4,0	12.5%

Financial performance

The Group`s sales amounted 28 428 thousand EUR during 06 months of 2025, representing a 5.7% decrease as compared to the same period of previous year. Overall, wholesale decreased by 12.7%, measured in EUR.

The Group's gross profit during 06 months of 2025 amounted to 15 091 thousand EUR and decrease by 12.2% compared to previous year. The gross margin during 06 months of 2025 decreased by 6.8% compared to 06 months of 2024. The cost of sold goods increased by 2.9%.

Consolidated operating profit for 06 months of 2025 amounted to 5 961 thousand EUR, compared to 8 562 thousand EUR for 06 months of 2024, decrease by 30.4%. The consolidated operating profit margin was 21.0% for 06 months of 2025 (28.4% for 06 months of 2024). Consolidated EBITDA for 06 months of 2025 decreased by 24.8% and amounted to 7 566 thousand EUR, which is 26.6% in margin terms (10 055 thousand EUR and 33.4% for 06 months of 2024).

Reported consolidated net profit attributable to equity holders of the Parent company for 06 months of 2025 amounted 5 781 thousand EUR, compared to net profit of 7 053 thousand EUR for 06 months of 2024, net profit margin attributable to equity holders of the Parent company for 06 months of 2025 was 20.3% against net profit margin 23.4% for 06 months of 2024.

Financial position

As of 30 June 2025, consolidated assets amounted to 92 405 thousand EUR representing increase by 9.4% as compared to the position as of 31 December 2024.

Trade and other receivables increased by 958 thousand EUR as compared to 31 December 2024 and amounted to 2 164 thousand EUR as of 30 June 2025. Inventory balance increased by 3 269 thousand EUR and amounted to 31 574 thousand EUR as of 30 June 2025.

Equity attributable to equity holders of the Parent company increased by 6 859 thousand EUR and amounted to 72 852 thousand EUR as of 30 June 2025. Current liabilities decreased by 287 thousand EUR during 06 months of 2025.

Investments

During 06 months of 2025 the Group's investments into property, plant and equipment totalled 368 thousand EUR, in previous year same 476 thousand EUR. Investments were made mainly into opening and renovating own stores, as well into equipment and facilities to maintain effective production for future periods.

Personnel

As of 30 June 2025, the Group employed 1 644 employees, including 536 people in retail operations. The rest were employed in production, wholesale, administration and support operations. In 31.12.2024 there were 1 655 employees, including 518 people in retail operations.

Total salaries and related taxes during 06 months of 2025 amounted 7 885 thousand EUR (7 117 thousand EUR in 06 months 2024). The remuneration of key management of the Group, including the key executives of all subsidiaries, totalled 419 thousand EUR.

Consolidated Statement of Financial Position

in thousands of EUR	Note	30.06.2025	31.12.2024
		Unaudited	Audited
ASSETS
Current assets
Cash and cash equivalents	2	5 881	7 683
Short-term deposits over 3 months	2	37 331	32 007
Trade and other receivables	3	2 164	1 206
Prepayments and other tax receivables	3	1 357	1 603
Current loans granted		4	0
Other assets		81	67
Inventories	4	31 574	28 305
Total current assets		78 392	70 871

Non-current assets
Non-current receivables		329	271
Investments in associates		96	92
Investments in other shares		217	208
Deferred tax asset		3 676	3 347
Intangible assets		680	649
Investment property		859	837
Property, plant and equipment	5	8 156	8 214
Total non-current assets		14 013	13 618
TOTAL ASSETS		92 405	84 489

LIABILITIES AND EQUITY
Current liabilities
Current lease liabilities		1 285	2 252
Trade and other payables	6	6 593	7 031
Tax liabilities		2 541	1 423
Total current liabilities		10 419	10 706

Non-current liabilities
Deferred tax liability		744	715
Non-current lease liabilities		4 369	3 694
Non-current provisions		44	43
Total non-current liabilities		5 157	4 452
Total liabilities		15 576	15 158

Equity
Share capital	7	3 600	3 600
Share premium		4 967	4 967
Statutory reserve capital		1 306	1 306
Unrealised exchange rate differences		-19 417	-20 495
Retained earnings		82 396	76 615
Total equity attributable to equity holders of the Parent company		72 852	65 993
Non-controlling interest		3 977	3 338
Total equity		76 829	69 331
TOTAL EQUITY AND LIABILITIES		92 405	84 489

Consolidated Income Statement

in thousands of EUR	Note	2Q 2025	2Q 2024	06m 2025	06m 2024
		Unaudited	Unaudited	Unaudited	Unaudited
Revenue from contracts with customers	9	16 412	16 241	28 428	30 145
Cost of goods sold		-7 165	-6 841	-13 337	-12 956
Gross Profit		9 247	9 400	15 091	17 189

Distribution expenses		-3 210	-3 001	-6 230	-5 773
Administrative expenses		-1 389	-1 191	-2 672	-2 454
Other operating income		95	59	158	107
Other operating expenses		-184	-253	-386	-507
Operating profit		4 559	5 014	5 961	8 562
Currency exchange income/(expense)		-395	916	1 438	865
Other finance income/(expenses)		102	-56	214	72
Net finance income		-293	860	1 652	937
Profit (loss) from associates using equity method		-5	-2	-12	14
Profit before tax		4 261	5 872	7 601	9 513
Income tax expense		-951	-1 002	-1 322	-1 727
Profit for the period		3 310	4 870	6 279	7 786
Attributable to :
Equity holders of the Parent company		3 029	4 499	5 781	7 053
Non-controlling interest		281	371	498	733
Earnings per share from profit attributable to equity holders of the Parent company, both basic and diluted (EUR)	8	0,08	0,12	0,16	0,20

Consolidated Statement of Comprehensive Income

in thousands of EUR	Note	2Q 2025	2Q 2024	06m 2025	06m 2024
		Unaudited	Unaudited	Unaudited	Unaudited

Profit for the period		3 310	4 870	6 279	7 786

Other comprehensive income (loss) that will be reclassified to profit or loss in subsequent periods:
Exchange differences on translation of foreign operations	-696	670	1 219	406
Total other comprehensive income for the period		-696	670	1 21 9	406

Total comprehensive income (loss) for the period		2 614	5 540	7 49 8	8 192
Attributable to :
Equity holders of the Parent company		2 462	5 049	6 859	7 313
Non-controlling interest		152	491	639	879

Consolidated Statement of Cash Flows

in thousands of EUR	Note	06m 2025	06m 2024
Cash flow from operating activities		Unaudited	Unaudited
Profit for the period		6 279	7 786
Adjustments for:
Depreciation and amortization of non-current assets		1 605	1 493
Share of profit of equity accounted investees		12	-14
Gains/Losses on the sale of property, plant and equipment		1	10
Net finance income / costs		-1 652	-937
Provision for impairment losses on trade receivables		2	3
Provision for inventories		3	1
Income tax expense		1 322	1 727
Change in inventories		-3 269	-1 922
Change in trade and other receivables		-712	-358
Change in trade and other payables		680	-1 912
Interest paid		-7	-48
Income tax paid		-783	-1 692
Net cash flow from operating activities		3 481	4 137

Cash flow from investing activities
Interest received		820	482
Dividends received		12	8
Purchase of other financial investments		-37 100	0
Proceeds from other financial investments		31 800	0
Proceeds from disposal of property, plant and equipment		7	20
Loans granted		-11	0
Proceeds from repayments of loans granted		7	9
Acquisition of property, plant and equipment		-368	-476
Acquisition of intangible assets		-38	-72
Net cash flow from investing activities		-4 871	-29

Cash flow from financing activities
Proceeds from borrowings		500	4 000
Repayment of borrowings		-500	-1 700
Payment of principal portion of lease liabilities		-1 207	-1 085
Interest paid on lease liabilities		-423	-375
Dividends paid		0	-646
Net cash flow from financing activities		-1 630	194

Net increase/decrease in cash and cash equivalents		-3 020	4 302
Cash and cash equivalents at the beginning of period	2	7 683	32 878
Effect of translation to presentation currency		1 358	1 837
Effect of exchange rate fluctuations on cash held		-140	-150
Cash and cash equivalents at the end of period		5 881	38 867

AS Silvano Fashion Group
Phone: +372 6845 000
Email: ...

Attachment

SFG consolidated interim financial report for Q2 and 6m of 2025 unaudited

MENAFN29082025004107003653ID1109994915

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