From 1st January 2019, the Company implemented a new International Financial Reporting Standard (IFRS) 16 “Leases”. Due to the application of this standard, the Group’s and Company’s rent expenses decreased but depreciation and amortization charges and interest expenses increased. Accordingly, it also influenced the calculation of indicators. The negative impact of IFRS 16 “Leases” on the Group's profit before tax amounted to EUR 285 thousand in the six months of 2019.
Q2 2019 EBITDA of the Group reached EUR 9.4 million, the increase by 69.4% compared to Q2 2018. EBITDA of Apranga Group totalled EUR 13.2 million in the six months 2019 and increased by 123.7% comparing to corresponding the year 2018 period. The positive impact of IFRS 16 “Leases” on the Group's H1 2019 EBITDA ratio was EUR 6.4 million.
The unaudited interim consolidated financial statements and consolidated interim report of Apranga Group for six months of 2019, as well as managers’ confirmation letter are ready for acquaintance in the attachment. The interim information is also available at: http://aprangagroup.lt/en/investors.
Rimantas Perveneckas
Apranga Group General Director
+370 5 2390801
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