HERACLES GENERAL CEMENT COMPANY S.A.
HERACLES G.C.Co Group of Companies - Financial Results for the Nine-month period of 2007
Improvement of Group's operational performance for the nine-month period of 2007 despite the slow-down of the market and the surge of solid fuel costs.
GROUP INDICES 9 MONTHS 2007 VS 9 MONTHS 2006
Sales -0.75%
Gross Profit Margin 27.4% from 25.5%
EBITDA -9.4%
Earnings after Taxes -0.3%
The HERACLES G.C.Co Group of Companies announced today sales of 509 million euros for the nine-month period of 2007, marginally reduced by 0.75% as compared to the corresponding period of the previous year. Respectively, the Company's sales for the nine-month period of 2007 amounted to 457 million euros, marginally increased by 0.20% in relation to the respective period of 2006.
The main events that affected the course of sales in the nine-month period of 2007 were, in the local market, favorable weather conditions in the first quarter of the year, which were succeeded by adverse weather conditions and a smooth deceleration of the market in the second and third quarter, as well as reduced exports during the months of April and May, mainly due to the temporary suspension of the Halkis plant operation during the aforementioned months.
The Group's gross profit margin was formed at 27.4% for the nine-month period of 2007 as compared to 25.5% of the corresponding period of 2006.
Earnings before taxes, interest and depreciation (EBITDA) for the Group's nine-month period amounted to 114.9 million euros as opposed to 126.9 million euros for the respective period of 2006, reduced by 9.4%. The Group?s net earnings after taxes for the nine-month period amounted to 53.3 million Euros as opposed to 53.4 million Euros for the corresponding period of 2006, marginally reduced by 0.3%.
On a like-for-like basis* , earnings before taxes, interest and depreciation (EBITDA) marked an increase of 3.5% and earnings after taxes an increase of 9.5% as compared to the corresponding period of 2006. This improvement was achieved despite the significant increases in solid fuel and power prices and is mainly attributed to the reduction of fixed costs.
*Note: Taking into account on the one hand the provision for the support of fire-stricken areas totaling 3 million euros as well as the cost for the expansion of the staff voluntary exit program amounting to 13.4 million euros, which burdened the Group's 9-month results of 2007 and on the other hand the income tax of previous accounting periods which burdened the results of the corresponding period of 2006.
GROUP INDICES 9 MONTHS 2007 VS 9 MONTHS 2006
Sales -0.75%
Gross Profit Margin 27.4% from 25.5%
EBITDA -9.4%
Earnings after Taxes -0.3%
The HERACLES G.C.Co Group of Companies announced today sales of 509 million euros for the nine-month period of 2007, marginally reduced by 0.75% as compared to the corresponding period of the previous year. Respectively, the Company's sales for the nine-month period of 2007 amounted to 457 million euros, marginally increased by 0.20% in relation to the respective period of 2006.
The main events that affected the course of sales in the nine-month period of 2007 were, in the local market, favorable weather conditions in the first quarter of the year, which were succeeded by adverse weather conditions and a smooth deceleration of the market in the second and third quarter, as well as reduced exports during the months of April and May, mainly due to the temporary suspension of the Halkis plant operation during the aforementioned months.
The Group's gross profit margin was formed at 27.4% for the nine-month period of 2007 as compared to 25.5% of the corresponding period of 2006.
Earnings before taxes, interest and depreciation (EBITDA) for the Group's nine-month period amounted to 114.9 million euros as opposed to 126.9 million euros for the respective period of 2006, reduced by 9.4%. The Group?s net earnings after taxes for the nine-month period amounted to 53.3 million Euros as opposed to 53.4 million Euros for the corresponding period of 2006, marginally reduced by 0.3%.
On a like-for-like basis* , earnings before taxes, interest and depreciation (EBITDA) marked an increase of 3.5% and earnings after taxes an increase of 9.5% as compared to the corresponding period of 2006. This improvement was achieved despite the significant increases in solid fuel and power prices and is mainly attributed to the reduction of fixed costs.
*Note: Taking into account on the one hand the provision for the support of fire-stricken areas totaling 3 million euros as well as the cost for the expansion of the staff voluntary exit program amounting to 13.4 million euros, which burdened the Group's 9-month results of 2007 and on the other hand the income tax of previous accounting periods which burdened the results of the corresponding period of 2006.