IR Release
PRESS RELEASE
Thursday, 27 August 2014
GROUP FINANCIAL RESULTS OF 1st HALF 2014
ATHEX: PLAT
Reuters: THRr.AT
Bloomberg: PLAT GA
The purpose of the present release is to present the Group's financial results for the 1st half of 2014 and to highlight the basic factors that contributed to such.
The positive performance of the Group's results continued during the second quarter of 2014, according to the Management.
More specifically, the basic financial figures of the Group during the first half of the current year as compared to the corresponding period of 2013, settled as follows:
|
Consolidated Turnover |
€137.35 mil. versus € 126.79 mil. in previous year |
(+8.3% ) |
|
Cons. Gross Profit |
€25.89 mil. versus € 23.00 mil. in previous year |
(+12.6%) |
|
Cons. ΕΒΙΤ |
€6.53 mil. versus € 4.96 mil. in previous year |
(+31.5%) |
|
Cons. EBITDA |
€10.81 mil. versus € 9.47 mil. in previous year |
(+14.1% ) |
|
Cons. EBT |
€4.25 mil. versus € 4.24 mil. in previous year |
(+0.2% ) |
|
Cons. EATAM |
€3.16 mil. versus € 2.82 mil. in previous year |
(+12.1% ) |
|
Basic Earnings per share (in €) |
0.070 versus 0.063 mil. in previous year |
(+12.0%) |
The major factors contributing to the H1 2014 financial results of the Group are presented in synopsis:
- Increase of sales volume mainly due to higher sales volume of the Technical Fabrics Unit (+11.7%)
- Improvement in the production cost due to effective control of fixed cost items
- Product mix improvement
- Increase of restructuring expenses following the implementation of the strategic plan of the Group's subsidiaries
On 30.06.2014, the Net Bank Debt of the Group amounted to € 40.4 million and the ratio “Net Bank Debt / Equity” settled at 0.4.
With regard to the financial performance of the Group in the 2nd half of 2014 it is noted that during the third quarter, Turnover and Operating Profit follow the upward trend of the previous two quarters as compared to the corresponding quarters of 2013. Despite the favorable evidence regarding the demand level for the Group's products until today, the uncertainty and volatility of the international economic environment in combination with the geopolitical developments render especially difficult to perform secure estimations and forecasts for the trend and evolution of the Group's results for the full year 2014.
For further clarifications or information regarding the present release you may refer to Ms Ioanna Karathanasi, Head of Investor Relations, tel: + 30 210-9875081
IR Release