9M 2002 Results
Kifissia/Greece - In the first nine months of fiscal year 2002, Rilken S.A. reported sales of 16.734 TEURO, 5,0% below last year's level. This decrease is due to the discontinuation of the distribution agreement for the Coppertone brand, as well as to the reduction of inter-company sales to Schwarzkopf & Rilken Hellas SA. Despite the difficult market conditions within 2002, the sales to third parties show an increase of 5.2%
Operating profit decreased by 460 TEURO (-18.3 %) and amounted to 2,050 TEURO. The main reasons for this reduction were the decrease in sales and in other revenues.
Profits before taxes were reduced by 946 TEURO or 35.6% and amounted to 1,714 TEURO. This decrease is mainly due to higher provisions for bad debt related to export business with customers in Eastern Europe, to lower currency gains, and to one time non-recurring other revenues included in previous year's numbers.
Consolidated net sales of the Rilken Group, which include sales of Rilken S.A. and its retail distribution company Schwarzkopf & Rilken Hellas S.A., amounted to 31,949 TEURO. The decrease of 3.3 % vs. the corresponding period of the previous year, is due to difficult market conditions and the discontinuation of the distribution agreement of the Coppertone brand.
Operating profit of the Group declined by 515 TEURO (-18.7%) to 2,243 TEURO. Lower sales, the drop in other revenues and the increase in operating expenses were the main reasons for this decrease.
Consolidated profits before taxes decreased by 782 TEURO or 28.6% to 1.957 TEURO.
Rilken S.A. is an Athens based manufacturer and marketer of Cosmetics, specialized in Hair Care products. The company is a member of the Henkel Group which is the majority shareholder of Rilken S.A. via its subsidiary Henkel Hellas S.A.
The financial statements of Rilken S.A. for the first nine months of 2002, including the consolidated financial statements, are published today 28th November 2002.