ΑΝΕΚ Α.Ε.
Financial results for the 9 month period 2008
7.4% NINE-MONTH PERIOD SALES INCREASE: euro 202.7 MILLION
14.8% 3RD QUARTER SALES INCREASE: euro 101.2 MILLION
Anek Lines SA announces the company's financial highlights for the nine months period ended 30 September 2008:
Turnover
Turnover of ANEK LINES SA for the nine month period of 2008 amounted to euro 202.7 million, compared to euro 188.7 million at the end of September 2007, increased by 7.4%. Respectively, the group revenue stood at euro 225.4 million versus 205.9 million the relative period of 2007, increased by 9.5%.
The Company and Group's turnover were significantly increased during the 3rd quarter of 2008 compared to the relative period of 2007: Anek's sales stood at euro 101.2 million against euro 88.1 million (increased by 14.8%), while Group's sales amounted to euro 110.5 million versus euro 94.1 million (increased by 17.5%).
Cost of Sales
Cost of Sales before depreciation and amortization of parent company in the nine month period of 2008 amounted to euro 146.3 million against 117.4 million increased by 28.9 million (24.6%). This variation is mainly due to the dramatic increase in fuel prices during the first nine months of 2008. Additionally, the cost of sales was affected from increased repairs and maintenance cost as well as chartering costs. All other factors of cost remained at the same level as in 2007.
EBITDA
Due to the aforementioned factors the earnings before interest, taxes, depreciation and amortiza-tion (EBITDA) of the Company was decreased and stood at 30.0 million versus 47.0 million the first nine month period of 2007. Correspondingly, the Group's EBITDA amounted to euro 30.1 million versus euro 47.7 million the nine month period of 2007.
It is mentioned that during the 3rd quarter of 2008 the earnings before interest, taxes, deprecia-tion and amortization (EBITDA) of the Company amounted to euro 30.7 million against euro 33.2 million and Group's EBITDA was euro 32.4 million versus euro 33.9 million the corresponding period of 2007.
Profit after taxes
The net profit after taxes for the period ended 30 September 2008 amounted to euro 10.2 million compared to euro 24.2 million in the corresponding period of 2007. Group's net profit after taxes and minority interests stood at euro 9.7 million against euro 23.6 million in the nine month pe-riod of 2007.
3rd Quarter 2008
- During the 3rd quarter of 2008 the entrance in new markets (Cyclades, Northeast Aegean) and the reorganization of routes resulted in the increase of sales, in the restraint of operational cost and in significant profits despite the hard international economical conditions. More spe-cific the Company's net profit after taxes for the 3rd quarter of 2008 stood at euro 23.2 million versus 25.4 million and Group's net profit attributable to equity holders stood at euro 23.7 million against euro 25.3 million the corresponding period of 2007.
- The new vessel F/B ELYROS started serving Chania route at the end of September reinforcing ANEK's fleet with one of the most modern and luxury vessel of the coastal industry and its operation is expected to increase the total capacity and improve the financial figures of the Company.
-During the period of 3rd quarter 2008 an ordinary tax audit for the fiscal years 2005, 2006 and 2007 was completed. It is mentioned that the latest decrease in fuel prices is expected to affect positively the results of the last quarter of the current fiscal year.
ΑΝΕΚ LINES faces successfully the new circumstances set in the industry of passenger ferries and act properly in order to increase the effectiveness and the profitability in favor of its share-holders.
14.8% 3RD QUARTER SALES INCREASE: euro 101.2 MILLION
Anek Lines SA announces the company's financial highlights for the nine months period ended 30 September 2008:
Turnover
Turnover of ANEK LINES SA for the nine month period of 2008 amounted to euro 202.7 million, compared to euro 188.7 million at the end of September 2007, increased by 7.4%. Respectively, the group revenue stood at euro 225.4 million versus 205.9 million the relative period of 2007, increased by 9.5%.
The Company and Group's turnover were significantly increased during the 3rd quarter of 2008 compared to the relative period of 2007: Anek's sales stood at euro 101.2 million against euro 88.1 million (increased by 14.8%), while Group's sales amounted to euro 110.5 million versus euro 94.1 million (increased by 17.5%).
Cost of Sales
Cost of Sales before depreciation and amortization of parent company in the nine month period of 2008 amounted to euro 146.3 million against 117.4 million increased by 28.9 million (24.6%). This variation is mainly due to the dramatic increase in fuel prices during the first nine months of 2008. Additionally, the cost of sales was affected from increased repairs and maintenance cost as well as chartering costs. All other factors of cost remained at the same level as in 2007.
EBITDA
Due to the aforementioned factors the earnings before interest, taxes, depreciation and amortiza-tion (EBITDA) of the Company was decreased and stood at 30.0 million versus 47.0 million the first nine month period of 2007. Correspondingly, the Group's EBITDA amounted to euro 30.1 million versus euro 47.7 million the nine month period of 2007.
It is mentioned that during the 3rd quarter of 2008 the earnings before interest, taxes, deprecia-tion and amortization (EBITDA) of the Company amounted to euro 30.7 million against euro 33.2 million and Group's EBITDA was euro 32.4 million versus euro 33.9 million the corresponding period of 2007.
Profit after taxes
The net profit after taxes for the period ended 30 September 2008 amounted to euro 10.2 million compared to euro 24.2 million in the corresponding period of 2007. Group's net profit after taxes and minority interests stood at euro 9.7 million against euro 23.6 million in the nine month pe-riod of 2007.
3rd Quarter 2008
- During the 3rd quarter of 2008 the entrance in new markets (Cyclades, Northeast Aegean) and the reorganization of routes resulted in the increase of sales, in the restraint of operational cost and in significant profits despite the hard international economical conditions. More spe-cific the Company's net profit after taxes for the 3rd quarter of 2008 stood at euro 23.2 million versus 25.4 million and Group's net profit attributable to equity holders stood at euro 23.7 million against euro 25.3 million the corresponding period of 2007.
- The new vessel F/B ELYROS started serving Chania route at the end of September reinforcing ANEK's fleet with one of the most modern and luxury vessel of the coastal industry and its operation is expected to increase the total capacity and improve the financial figures of the Company.
-During the period of 3rd quarter 2008 an ordinary tax audit for the fiscal years 2005, 2006 and 2007 was completed. It is mentioned that the latest decrease in fuel prices is expected to affect positively the results of the last quarter of the current fiscal year.
ΑΝΕΚ LINES faces successfully the new circumstances set in the industry of passenger ferries and act properly in order to increase the effectiveness and the profitability in favor of its share-holders.