LHV: Tallinna Kaubamaja (Buy) Results Review

On Wednesday, Tallinna Kaubamaja published a strong set of Q4and FY 2013 results. With revised sales of EUR 138.2m, and EUR 0.4m of otheroperating income, the company’s total revenues for the fourthquarter amounted to EUR 138.6m or EUR 0.4m more than wehad anticipated (EUR 138.2m). We maintain our fair value range for the company at EUR 6.45 - 7.15, and reiterate our Buy recommendation.

Angliskai nelabai suprantu,bet atrodo ,kad yra pasiulymas ismoketi 0,15 EUR dividendu ir dar plius mazinti istatini kapitala 0,40 EUR. Jei klystu prasau pataisyti

Įmesk nuorodą, įdomu pažiūrėti

Notice of convening Annual General Meeting of shareholders of Tallinna Kaubamaja Aktsiaselts


The Management Board of Tallinna Kaubamaja AS (registry code 10223439, seat Gonsiori 2, 10143 Tallinn), convenes an annual general meeting of shareholders on 27 March 2014 at 11:00, in the Conference centre of Radisson Blu Hotel Olümpia, Liivalaia 33, Tallinn.

Registration of the participants begins on 27 March 2014 at 10.30. The list of shareholders entitled to participate in the general meeting will be decided at 20 March 2014 at 23.59.

The Supervisory Board of Tallinna Kaubamaja AS has determined the following agenda of the annual general meeting and makes the following proposals.

1. Approval of the annual report of 2013 of Tallinna Kaubamaja AS

To approve the annual report of Tallinna Kaubamaja AS for 2013 prepared by the Management Board of Tallinna Kaubamaja AS and approved by the Supervisory Board, according to which the consolidated balance sheet of Tallinna Kaubamaja AS as at 31.12.2013 is 327,795 thousand euros, the sales revenue for the accounting year is 498,721 thousand euros and the net profit 17,464 thousand euros.



2. Distribution of profit

To approve the profit distribution proposal of 2013 of Tallinna Kaubamaja AS, presented by the Management Board and approved by the Supervisory Board, as follows:



Retained profits of previous years

54,923 thousand euros



Net profit of 2013

17,464 thousand euros



Total distributable profit as at 31.12.2013

72,387 thousand euros



To pay dividends 0.15 euros per share

6,109 thousand euros



Retained profits after distribution of profits

66,278 thousand euros


The list of shareholders with a right to receive dividends shall be fixed as at 10 April 2014 at 23.59. Dividends shall be paid to the shareholders via transfer on 11 April 2014 to a bank account of a shareholder.

Provided that the shareholders approve the resolutions included in agenda items 3 and 4, an additional payment of 0.20 euro per share (total of 8,146 thousand euros) will be made to the shareholders, in addition to dividends in 2014, due to the decreasing of share capital.



3. Amendment of the articles of association

Due to the decreasing of share capital, points 1 and 2 of §2 of the articles of association will be amended, and a new version of the articles of association will be approved, in which the points to be amended are specified as follows:

§ 2 The amount of share capital and nominal value of a share of the Company

1. The minimum size of the Company’s share capital is EUR 10,000,000 and the maximum size is EUR 40,000,000.

2. The Company has registered shares with a nominal value of 40 eurocents.



4. Decreasing of share capital

The share capital will be decreased as follows:

The share capital of the public limited company will be decreased by 8,145,840 euros from the current 24,437,520 euros to 16,291,680 euros. The share capital will be decreased by lowering the nominal value of shares by 0.20 euro from current 0.60 euro to 0.40 euro (the total number of shares will not be changed). After the decreasing of the share capital is registered with the commercial register, the share capital of the public limited company will be 16,291,680 euros, comprising of 40,729,200 shares with the nominal value of 0.40 euro each. The share capital is decreased to improve the structure of capital. The decreasing of the share capital of the public limited company enables to balance the ratio of the group’s debt capital and owner’s equity, and improve the group’s return on equity. The public limited company does not require a share capital in the current amount and the re! quirements set by legislation on share capital are met with a smaller share capital. When the share capital is decreased, the shareholders will be made a payment of 0.20 euro per share within the term set down by legislation. The list of shareholders included in the decreasing of the share capital will be fixed as of 10 April 2014 at 11:59 PM.

______________________________________________________________________________________

The shareholders whose shares represent at least 1/20 of the share capital may request the inclusion of additional issues to the agenda of the general meeting, provided that the respective request has been submitted in writing no later than by 12 March 2014. The shareholders whose shares represent at least 1/20 of the share capital may submit a written draft of the resolution in respect to each item on the agenda no later than by 24 March 2014. More detailed information available on §287 of the Commercial Code (right of shareholder to information), §293 (2) (right to demand the inclusion of additional issues in the agenda) and §2931 (3) (obligation to submit simultaneously with the request on the modification of the agenda a draft of the resolution or substantiation) and §2931 (4) (right to submit a draft of the resolution in respect to each item on the agenda) ! about the rules and term of exercising these rights have been published on the homepage of Tallinna Kaubamaja AS at www.tkmgroup.ee. The drafts of the resolutions and substantiations submitted by the shareholders will be published on the same homepage, if any are received. After the items on the agenda of the general meeting, including additional issues, have been discussed, the shareholders can ask for information from the management board about the activity of the public limited company.

The documents of the annual general meeting, including the annual report, sworn auditor’s report, proposal for profit distribution, report of the supervisory board, drafts of the resolutions and draft articles of association of Tallinna Kaubamaja AS are made available on the homepage of Tallinna Kaubamaja AS at www.tkmgroup.ee, and from the publication of the notice on calling the general meeting until the day of the general meeting is held, in the secretariat of Tallinna Kaubamaja AS at Gonsiori 2 (2nd floor) in Tallinn on business days from 10 AM to 4 PM. Questions about the topics included in the agenda of the general meeting can be sent to the following e-mail address sekretar.gonsiori@kaubamaja.ee or by post to the address of the public limited company or by telephone 66 73 300. <! /span>

Please submit the following documents to register the participants of the general meeting:

a shareholder that is a natural person – personal identification document; a representative of a shareholder that is a natural person – personal identification document and a written letter of authorisation; a legal representative of a shareholder that is a legal person – an extract of the relevant (commercial) register in which the legal person is registered, and the personal identification document of the representative; a transactional representative of a shareholder that is a legal person is also required to submit a written authorisation issued by the legal representative of the legal person in addition to the above listed documents. We ask the documents of a legal person registered in a foreign country to be legalised or having an apostille attached to the documents beforehand, unless specified otherwise in an international agreement. Tallinna Kaubamaja AS may register a shar! eholder that is a legal person from a foreign country to the general meeting also in case all required information on the legal person and its representative are included in a notarised letter of authorisation issued in the foreign country and the respective letter of authorisation is accepted in Estonia. We ask you to present a passport or an ID-card as a personal identification document.

A shareholder may inform of the appointment of a representative or withdrawal of an authorisation given to a representative before the general meeting by e-mail on sekretar.gonsiori@kaubamaja.ee or by submitting the mentioned document(s) on business days from 10 AM to 4 PM no later than by 26 March 2014 to the secretariat of Tallinna Kaubamaja AS at Gonsiori 2 (2nd floor) in Tallinn, prepared on the respective forms published on the homepage of Tallinna Kaubamaja AS at www.tkmgroup.ee. You can find information about appointment of a representative or withdrawal of an authorisation on the same homepage.



Respectfully

The Management Board of Tallinna Kaubamaja Aktsiaselts

Raul Puusepp
Chairman of the Board
Phone +372 731 5000


Veliau istrinsiu ,kad vietos neuzimtu

0.15 eur dyvai +0.2 eur uz akcija del kapitalo mazinimo

Gal kam jau ikrito dyvai?

Dividendai jau įkrito, bet už įstatinio mažinimą dar nėra įplaukų.

I SEBa kol kas dar niekas neikrite

SEBas visada porą dienų vėluoja. LHV divai buvo jau penktadienį, kaip ir priklauso.

Dėkui už info

Gal yra kokios info, kada turėtų būti pervedami pinigai už akcijas dėl kapitalo mažinimo? Norisi reinvestuoti pinigus, tačiau jie yra pakibe velniai žino kiek jau laiko

LHV: Tallinna Kaubamaja (Buy) Update

Tallinna Kaubamaja published its Q1 2014 results on 16 April, and, as stated in our TKM Results Review, 23 April, we had somewhat mixed feelings about the outcome. We were satisfied in terms of revenues, which increased c.a. 6.7% y-o-y to EUR 119.7m, some EUR 1.6m below our EUR 121.3m estimate. Having made adjustments and taken a more conservative stand towards the company’s margins, we have revised our fair value range down from EUR 6.45-7.15 to EUR 6.00- 6.60, but maintain our Buy recommendation for the company.

Full Report (pdf): Adjusting Our Outlook for Tallinna Kaubamaja

Na mieli investatoriai Ar kas domisi šia įmone? Paanalizavau ją http://furido.lt/2015/07/03/tallinna-kaubamaja-grupp-2015-q1-finansine-analize/ truputėli ir man ji visai patiko. Šiais metai padidino dividendus iki 0,4EUR ir pajamingumas toks pats kaip Tallinna vesi ir TEO apie 6,5%. Aišku savininkai ne tokie patikimi, bet už tai augimo perspektyva didesnė, o ir dar yra vietos kažkiek dividendams didinti, nes uždirba 0,5 EUR/akcijai. Pagrindinė veikla kažkas panašaus į mūsų Maximą.

2016 1st quarter and 3 months turnover and interim report April 14

The total consolidated unaudited sales revenue of Tallinna Kaubamaja Group of the 1st quarter of 2016 amounted to 136.9 million euros. Compared to the 1st quarter of 2015, when the sales revenue was 123.5 million euros, the growth was 10.8%. The sales revenue increased in all segments of the Group. The net loss of the accounting period was 0.2 million euros due to income tax calculated from dividends in the amount of 5.2 million euros. The loss of the 1st quarter of 2015 was 1.2 million euros, including income tax in the amount of 3.9 million euros. The profit before tax was almost twice as high compared to the previous year, amounting to 5.0 million euros.

The 1st quarter results of this accounting year are successful in every aspect. Sales revenue grew across all segments, as did the EBITDA. The success was a result of carefully considered marketing campaigns, well-planned stock management and improving of the service quality. Sales was also supported by the economic environment with its favourable consumption dynamics and the specifics of the 2016 calendar – the leap year and the early Easter holidays. Viimsi Selver and e-Selver that were successfully launched in 2015 had a significant positive impact on sales revenue. Positive sales results in the footwear trade segment and reduced losses confirm right choices in footwear brand selection combined with changes in the type of service. The growth of profit before tax was supported by improved margin as a result of the optimisation of trade processes and the administrative expenses. The winter, which arrived at the beginning of the year, benefitted the sale of fashion goods by reducing the depth of the end of season discount campaign for fashion goods. Labour costs were increased by the extended stores network and implementing a remuneration system, based on good sales’ results.

https://cns.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=706226&messageId=884060

Proceeding from the above, the shares of Tallinna Kaubamaja Grupp AS are traded cum-dividend for the year 2015 for the last day today, on April 22, 2016. The shares will go ex-dividend for the year 2015 on Monday, April 25, 2016.

Tallinna Kaubamaja Grupp AS will pay dividend 0.52 EUR per share on April 27, 2016.


https://cns.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=706019&messageId=883777

Dividendų siūlymas 0,63€. Pajamingumas - 7,11% prieš mokesčius.

https://cns.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=760439&messageId=954235

Ketvirtis ne koks:
https://cns.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=783436&messageId=985068

lyginant su akcijos kainos pakilimu

0,69 dividentai/akcijai.
https://cns.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=825400&messageId=1037652

Tikėjausi 0,73
Bet pakaks 0,69. t.y., ~7% prieš mokesčius