IR Release
Friday, 20 March 2014
GROUP FINANCIAL RESULTS FOR THE YEAR 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 year 2014 and to highlight the basic factors that contributed to such.
The Group's financial results for the year 2014 posted a significant improvement as compared to the previous year 2013. The major factors contributing to the above positive development were the increased demand for the products of the Technical Fabrics Unit as well as of the Packaging Unit, although to a lesser degree. The product mix improvement and the increase in sales volume, which resulted into a more effective control of the fixed expenses, contributed to the improvement of the Gross Profit margin for both business units.
Specifically, the basic financial figures of the Group in year 2014 as compared to the year 2013, settled as follows:
|
Consolidated Turnover |
€ 278.2 mil. versus € 251.2 mil. in 2013 |
(+10.7% ) |
|
Cons. Gross Profit |
€ 51.3 mil. versus € 44.0 mil. in 2013 |
(+16.6%) |
|
Cons. ΕΒΙΤ |
€ 14.7 mil. versus € 8.8 mil. in 2013 |
(+66.0%) |
|
Cons. EBITDA |
€ 23.5 mil. versus € 17.7 mil. in 2013 |
(+32.7% ) |
|
Cons. EBT |
€ 10.1 mil. versus € 6.0 mil. in 2013 |
(+68.0% ) |
|
Cons. EATAM |
€ 6.5 εκ mil. versus € 2.5 mil. in 2013 |
(+161.5% ) |
|
Basic Earnings per share (in €) |
0.144 versus 0.055 in 2013 |
(+161.8%) |
Note: The accounts of the year 2013 have been restated due to the change in the consolidation method of the joint ventures (IFRS 10, 11 and 12) Thrace Greiner Packaging SRL, Thrace Sarantis Α.Β.Ε.Ε and Lumite INC. The Group holds an interest of 50% in each of the above subsidiaries.
During the year 2014, the Group financed investments of € 13 million of which € 8.8 million approximately concerned investments implemented in Greece. On 31.12.2014, the Net Bank Debt of the Group amounted to € 32.7 million and the ratio “Net Bank Debt / Equity” settled at 0.3.
During the first quarter of 2015, the Group's financial performance is characterized by an increase in Turnover and Operating Profit as compared to the year 2014. Despite the favorable developments in the first quarter, the uncertainty and instability prevailing in both the domestic and the international environment makes difficult any projection with regard to the Group's financial performance and results for the entire year.
At the Annual General Shareholders' Meeting on 15th April 2015, the Board of Directors will propose the distribution of total gross dividend of € 1 million.
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