In November 26th, 2008, Mr. Apostolos Petalas, Fourlis Group CEO, presented to the Association of Greek Institutional Investors the 9M2008 financial results of the Group.
In the first nine months the Group strengthened its position both in terms of sales and profits considering the additional costs of new IKEA stores (Athens, Greek province and Bulgaria) as well as increased transportation costs due to the port strikes in Greece.
Sales grew by 26,0% to euro 546,39 mio y-o-y (9ΜFY07: euro 433,77 mio).
EBITDA up 11,0% to euro 63,93 mio y-o-y (9MFY07: euro 57,60 mio). However adjusted EBITDA was up 14,2% to euro 59,37 mio (9MFY07: euro 51,97 mio).
- DSGI SOUTH-EAST EUROPE A.E.Β.Ε. (ex Kotsovolos) one off capital gain accounting record 9MFY08 based on the minimum guaranteed exercise price of the put option: euro 12,2 mio (9MFY07: euro 10,3 mio including ATC sale).
- IKEA Preopening expenses 9MFY08: euro 5,7 mio (9MFY07: euro 4,7 mio).
- Other unusual items in 9MFY08 EBITDA (port strikes): euro 2,0 mio
PBT flat at euro 46,90 mio y-o-y (9MFY07: euro 46,92 mio).
However adjusted PBT figure for 9MFY08 is up 5,2% y-o-y to 43,45 mio (9MFY07: euro 41,29 mio) since the first quarter of the current year includes, in addition to what is mentioned in EBITDA analysis, euro 1,1 mio one off foreign exchange differences from Romania activity due to hedging policy.
NP up 1,9% to ? 33,98 mio y-o-y (9MFY07: euro 33,35 mio).
EPS euro 0,67 (9MFY07: euro 0,65).