F.G. EUROPE S.A.
Nine-Month results of operations of F.G. EUROPE Group
Continuous spectacular improvement in financial figures and profitability of the Group
The Group of F.G. EUROPE S.A. reached a record level of 17.10 mil. Euro in pre-tax earnings for the nine-month period of the current fiscal year compared to 4.25 mil. Euro during the related period of 2006, posting an increase of 302.35% and resulting to a pre tax margin of 13.29% compared to 3.51% for the corresponding nine month period of 2006.
Earnings after taxes for the Group for the nine months amounted to 12.10 mil. Euro compared to 2.89 mil. Euro for the relevant period of 2006, increased by 9.21 mil. Euro or 318.69%, resulting to a net earnings margin of 9.40% compared to 2.38% for the related nine months of 2006.
Gross profit amounted to 31.05 mil. Euro compared to 15.62 mil. Euro for the nine-month period of 2006, posting an increase of 98.78%.
The gross profit margin for the nine month period reached 24.13% compared to 12.89% for the related period of 2006, posting an increase of 87.20%
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 230.31% amounting to 18.96 mil. Euro compared to 5.74 mil. Euro for the nine-month period of 2006.
The EBITDA margin amounted to 14.73% for the nine-month period of 2007 compared to 4.74% for the nine-month period of 2006, posting an increase of 210.76%.
The Group's Equity, including minority interests, significantly increased and amounted to 42.12 mil. Euro, resulting in a debt / equity ratio of 2.45 as of September 30, 2007 compared to 2.84 as of September 30, 2006.
Revenues for the nine month period of 2007 amounted to 128.68 mil. Euro compared to 121.16 mil. Euro for the related nine months of 2006, posting an increase of 6.20%. Revenues of long living consumer goods amounted to 98.95 mil. Euro compared to 52.95 mil. Euro for the nine month period of 2006, posting an increase of 87%, contributing with 77% in the total revenues of F.G. EUROPE S.A. compared to 44% contribution in the total revenues in the nine month period of 2006.
In particular, the sales of F.G. EUROPE S.A., according to each separate sector are as follows:
The sector of air conditioners posted an increase of 103%. The sector sales amounted to 83.47 mil. Euro, compared to 41.11 mil. Euro for the nine months of 2006. Sales in the domestic market increased by 110% (53.96 mil. Euro compared to 25.70 mil. Euro for the nine month period of 2006) and sales to the markets in South-East European countries - Italy by 93% (29.32 mil. Euro compared to 15.21 mil. Euro for the nine months of 2006).
For the white electrical appliances sector, sales of SHARP products amounted to 4.42 mil. Euro compared to 3.38 mil. Euro for the nine month period of 2006 increased by 20%, while sales of ESKIMO products increased by 8%, amounting to 4.66 mil. Euro.
Sales of the SHARP Consumer Electronics increased by 101% amounting to 5.69 mil. Euro compared to 2.83 mil. Euro for the nine month period of 2006. Finally, within the framework of the decision to continuously reduce sales in the segment of prepaid mobile telephony cards, sales decreased by 57%, resulting in a contribution to the total company sales of 23%.
As already announced, the Group's Management for the full year 2007 expects:
EBITDA, due to the increased contribution of long living consumer sales to the new composition of total sales, is expected to reach the amount of 21.00 mil. Euro compared to 6.27 mil. in 2006, posting an increase of 235%. EBITDA margin is expected to exceed 13%, from 4% in 2006.
Earnings per share are expected to reach 0.25 mil. Euro compared to 0.05% in 2006, increased by 400%.
Due to the increased profitability, a significant increase is expected in the 2008 dividend available for distribution to shareholders.
The Financial Statements of September 30th, 2007 are accessible for the investment community on the Company?s website http://www.fgeurope.gr under the section "Investors Relations" from Saturday, November 3rd, 2007.
For further information please contact the Investors Relations Department of F.G. Europe S.A., 128, Vouliagmenis Ave., 166 74 Glyfada, Tel. +30 210 9696500, Fax +30 210 9603802, email :ir@fgeurope.gr.
The Group of F.G. EUROPE S.A. reached a record level of 17.10 mil. Euro in pre-tax earnings for the nine-month period of the current fiscal year compared to 4.25 mil. Euro during the related period of 2006, posting an increase of 302.35% and resulting to a pre tax margin of 13.29% compared to 3.51% for the corresponding nine month period of 2006.
Earnings after taxes for the Group for the nine months amounted to 12.10 mil. Euro compared to 2.89 mil. Euro for the relevant period of 2006, increased by 9.21 mil. Euro or 318.69%, resulting to a net earnings margin of 9.40% compared to 2.38% for the related nine months of 2006.
Gross profit amounted to 31.05 mil. Euro compared to 15.62 mil. Euro for the nine-month period of 2006, posting an increase of 98.78%.
The gross profit margin for the nine month period reached 24.13% compared to 12.89% for the related period of 2006, posting an increase of 87.20%
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 230.31% amounting to 18.96 mil. Euro compared to 5.74 mil. Euro for the nine-month period of 2006.
The EBITDA margin amounted to 14.73% for the nine-month period of 2007 compared to 4.74% for the nine-month period of 2006, posting an increase of 210.76%.
The Group's Equity, including minority interests, significantly increased and amounted to 42.12 mil. Euro, resulting in a debt / equity ratio of 2.45 as of September 30, 2007 compared to 2.84 as of September 30, 2006.
Revenues for the nine month period of 2007 amounted to 128.68 mil. Euro compared to 121.16 mil. Euro for the related nine months of 2006, posting an increase of 6.20%. Revenues of long living consumer goods amounted to 98.95 mil. Euro compared to 52.95 mil. Euro for the nine month period of 2006, posting an increase of 87%, contributing with 77% in the total revenues of F.G. EUROPE S.A. compared to 44% contribution in the total revenues in the nine month period of 2006.
In particular, the sales of F.G. EUROPE S.A., according to each separate sector are as follows:
The sector of air conditioners posted an increase of 103%. The sector sales amounted to 83.47 mil. Euro, compared to 41.11 mil. Euro for the nine months of 2006. Sales in the domestic market increased by 110% (53.96 mil. Euro compared to 25.70 mil. Euro for the nine month period of 2006) and sales to the markets in South-East European countries - Italy by 93% (29.32 mil. Euro compared to 15.21 mil. Euro for the nine months of 2006).
For the white electrical appliances sector, sales of SHARP products amounted to 4.42 mil. Euro compared to 3.38 mil. Euro for the nine month period of 2006 increased by 20%, while sales of ESKIMO products increased by 8%, amounting to 4.66 mil. Euro.
Sales of the SHARP Consumer Electronics increased by 101% amounting to 5.69 mil. Euro compared to 2.83 mil. Euro for the nine month period of 2006. Finally, within the framework of the decision to continuously reduce sales in the segment of prepaid mobile telephony cards, sales decreased by 57%, resulting in a contribution to the total company sales of 23%.
As already announced, the Group's Management for the full year 2007 expects:
EBITDA, due to the increased contribution of long living consumer sales to the new composition of total sales, is expected to reach the amount of 21.00 mil. Euro compared to 6.27 mil. in 2006, posting an increase of 235%. EBITDA margin is expected to exceed 13%, from 4% in 2006.
Earnings per share are expected to reach 0.25 mil. Euro compared to 0.05% in 2006, increased by 400%.
Due to the increased profitability, a significant increase is expected in the 2008 dividend available for distribution to shareholders.
The Financial Statements of September 30th, 2007 are accessible for the investment community on the Company?s website http://www.fgeurope.gr under the section "Investors Relations" from Saturday, November 3rd, 2007.
For further information please contact the Investors Relations Department of F.G. Europe S.A., 128, Vouliagmenis Ave., 166 74 Glyfada, Tel. +30 210 9696500, Fax +30 210 9603802, email :ir@fgeurope.gr.