Α.Γ.Ε.Τ. ΗΡΑΚΛΗΣ
HERACLES GROUP ANNOUNCES YEAR 2008 RESULTS
TURNOVER INCREASED BY 3%
HERACLES General Cement Co. Group of Companies announced today sales amounting to 708,1 million Euros for the year 2008, an increase of 3,0% compared to 2007. The Group's earnings before interest, tax, depreciation and amortization (EBITDA) for the year 2008 amounted to 143,8 million Euros, 5,4% below 2007. Net profit after tax amounted to 60,0 million Euros for 2008, 11,6% lower than 2007.
At Company level, the sales amounted to 632,2 million Euros for the year of 2008, an increase of 2,4% compared to 2007. The company's earnings before interest, tax, depreciation and amortization (EBITDA) for the year 2008 amounted to 139,5 million Euros, down by 2,4% compared to 2007. Net profit after tax amounted to 71,9 million Euros for 2008, increased by 4,0% versus 2007.
million euro GROUP FINANCIAL RESULTS 2008 2007 %
Turnover 708,1 687,1 3,0%
EBITDA 143,8 152,1 (5,4)%
Net Profit after Tax 60,0 67,8 (11,6)%
Sales volumes in 2008 were influenced by the slow down of the domestic market as a result of the decline of private building activity, particularly during the last quarter of 2008, with the surplus in the residential sector and lower demand for mortgage loans. These effects were partially offset by public infrastructure projects and increased exports.
Significant increases in fuel and electric power prices during 2008 had an unfavourable impact on costs, partly compensated by performance improvements, notably in fuel and raw material consumption, fixed costs, as well as reduced sales and administrative expenses.
Operational improvements and investments in 2008 were mainly focused on the Group's strategic priorities of promoting health and safety, upgrading environmental performance, increasing productivity and introducing product innovation.
About the company
HERACLES Group of Companies, a member of Lafarge, is Greece's largest cement producer, with a production capacity of 9.6 million tons per year, and the largest cement exporter in Europe. Operating three cement plants, in Volos, Halkis and Milaki in Evoia, six cement terminals, as well as production and trading units of aggregates and concrete, the Heracles Group has production activity in 29 prefectures in Greece and trading activity throughout continental and island Greece. Driven by a customer focused approach, brings to the market differentiated, innovative products to meet customer and end-user needs.
Lafarge is the world leader in building materials, with top-ranking positions in all of its businesses: Cement, Aggregates & Concrete and Gypsum. With more than 84,000 employees in 79 countries, Lafarge posted sales of Euros 19.0 billion in 2008. In 2009 and for the fifth year in a row, Lafarge was listed in the `Global 100 Most Sustainable Corporations in the World`. With the world's leading building materials research facility, Lafarge places innovation at the heart of its priorities, working for sustainable construction and architectural creativity. Additional information is available on the web site at www.lafarge.com.
For more information please contact:
Angelica Patrouba
HERACLES Group of Companies
External Communications
Tel: + 30 210 2898816
Mob.: + 30 6973031816
Patroubaa@aget.gr
HERACLES General Cement Co. Group of Companies announced today sales amounting to 708,1 million Euros for the year 2008, an increase of 3,0% compared to 2007. The Group's earnings before interest, tax, depreciation and amortization (EBITDA) for the year 2008 amounted to 143,8 million Euros, 5,4% below 2007. Net profit after tax amounted to 60,0 million Euros for 2008, 11,6% lower than 2007.
At Company level, the sales amounted to 632,2 million Euros for the year of 2008, an increase of 2,4% compared to 2007. The company's earnings before interest, tax, depreciation and amortization (EBITDA) for the year 2008 amounted to 139,5 million Euros, down by 2,4% compared to 2007. Net profit after tax amounted to 71,9 million Euros for 2008, increased by 4,0% versus 2007.
million euro GROUP FINANCIAL RESULTS 2008 2007 %
Turnover 708,1 687,1 3,0%
EBITDA 143,8 152,1 (5,4)%
Net Profit after Tax 60,0 67,8 (11,6)%
Sales volumes in 2008 were influenced by the slow down of the domestic market as a result of the decline of private building activity, particularly during the last quarter of 2008, with the surplus in the residential sector and lower demand for mortgage loans. These effects were partially offset by public infrastructure projects and increased exports.
Significant increases in fuel and electric power prices during 2008 had an unfavourable impact on costs, partly compensated by performance improvements, notably in fuel and raw material consumption, fixed costs, as well as reduced sales and administrative expenses.
Operational improvements and investments in 2008 were mainly focused on the Group's strategic priorities of promoting health and safety, upgrading environmental performance, increasing productivity and introducing product innovation.
About the company
HERACLES Group of Companies, a member of Lafarge, is Greece's largest cement producer, with a production capacity of 9.6 million tons per year, and the largest cement exporter in Europe. Operating three cement plants, in Volos, Halkis and Milaki in Evoia, six cement terminals, as well as production and trading units of aggregates and concrete, the Heracles Group has production activity in 29 prefectures in Greece and trading activity throughout continental and island Greece. Driven by a customer focused approach, brings to the market differentiated, innovative products to meet customer and end-user needs.
Lafarge is the world leader in building materials, with top-ranking positions in all of its businesses: Cement, Aggregates & Concrete and Gypsum. With more than 84,000 employees in 79 countries, Lafarge posted sales of Euros 19.0 billion in 2008. In 2009 and for the fifth year in a row, Lafarge was listed in the `Global 100 Most Sustainable Corporations in the World`. With the world's leading building materials research facility, Lafarge places innovation at the heart of its priorities, working for sustainable construction and architectural creativity. Additional information is available on the web site at www.lafarge.com.
For more information please contact:
Angelica Patrouba
HERACLES Group of Companies
External Communications
Tel: + 30 210 2898816
Mob.: + 30 6973031816
Patroubaa@aget.gr