ΣΦΑΚΙΑΝΑΚΗΣ Α.Ε.Β.Ε.
Press Release
The SFAKIANAKIS S.A. completed the fiscal year of 2008 achieving sales growth despite the very unfavorable economic conditions.
At the group level, the turnover amounted to euro 486.2 mil., increased by 10.2% compared to euro 441.1 mil. in 2007, while profit before tax financial results of investment, depreciation and provisions (EBITDA) amounted to euro 46.3 mil. decreased by 27.5% compared the last year. The group given the general economic situation and recession, formed provisions euro 7.7 mil., after deduction of the provisions net profits after taxes amounted to euro 6,1 million showing a decrease compared to euro 27.6 mil. of 2007.
At the company level, turnover amounted to euro 399.2 mil., increased by 11.5% compared to euro 358.1 mil. in 2007, while profit before tax financial results of investment, depreciation and provisions (EBITDA) amounted to euro 23.5 mil. decreased from euro 44.8 mil. of previous year. The company, formed provisions euro 6.9 mil., after the deduction of provisions, net profits after taxes amounted to euro 5.8 mil. showing a decrease compared to euro 27.4 mil. in 2007.
The Board of Directors in purpose to strengthening the company's capital structure will not propose to the Annual General Meeting of dividend distribution for Fiscal Year 2008.
Sales of new cars Suzuki amounted to 13,122 units showing a decline compared to 2007 after a significant delay by the car market in the fourth quarter. Based on the registrations Suzuki gaining a market share of 5.1% and occupied the seventh position among all manufacturers in the Greek market.
The Suzuki motorcycle registrations amounted to 8,247 units, up 34.4% compared with 6,152 registrations in 2007, gaining a market share of 8.2% in the overall market. In the 126cc category over motorcycles Suzuki took the first position among Japanese manufacturers gaining market share 31.2%. Overall, in 2009, the Sfakianakis SA through its retail and wholesale (Suzuki) is expected to surpass the 20,000 car sales, with turnover expected to exceed 2008 levels and to provide the euro 500 mil.
The group, based on the data of the current economic downturn has implemented a wide program of restructuring of companies, aimed at reducing costs and improving productivity in 2009 in order to help reduce the debt and stock and to continue the profitable path of relying on its strong and extensive retail network, which includes 13 brands, and healthy network of Suzuki dealers.
At the group level, the turnover amounted to euro 486.2 mil., increased by 10.2% compared to euro 441.1 mil. in 2007, while profit before tax financial results of investment, depreciation and provisions (EBITDA) amounted to euro 46.3 mil. decreased by 27.5% compared the last year. The group given the general economic situation and recession, formed provisions euro 7.7 mil., after deduction of the provisions net profits after taxes amounted to euro 6,1 million showing a decrease compared to euro 27.6 mil. of 2007.
At the company level, turnover amounted to euro 399.2 mil., increased by 11.5% compared to euro 358.1 mil. in 2007, while profit before tax financial results of investment, depreciation and provisions (EBITDA) amounted to euro 23.5 mil. decreased from euro 44.8 mil. of previous year. The company, formed provisions euro 6.9 mil., after the deduction of provisions, net profits after taxes amounted to euro 5.8 mil. showing a decrease compared to euro 27.4 mil. in 2007.
The Board of Directors in purpose to strengthening the company's capital structure will not propose to the Annual General Meeting of dividend distribution for Fiscal Year 2008.
Sales of new cars Suzuki amounted to 13,122 units showing a decline compared to 2007 after a significant delay by the car market in the fourth quarter. Based on the registrations Suzuki gaining a market share of 5.1% and occupied the seventh position among all manufacturers in the Greek market.
The Suzuki motorcycle registrations amounted to 8,247 units, up 34.4% compared with 6,152 registrations in 2007, gaining a market share of 8.2% in the overall market. In the 126cc category over motorcycles Suzuki took the first position among Japanese manufacturers gaining market share 31.2%. Overall, in 2009, the Sfakianakis SA through its retail and wholesale (Suzuki) is expected to surpass the 20,000 car sales, with turnover expected to exceed 2008 levels and to provide the euro 500 mil.
The group, based on the data of the current economic downturn has implemented a wide program of restructuring of companies, aimed at reducing costs and improving productivity in 2009 in order to help reduce the debt and stock and to continue the profitable path of relying on its strong and extensive retail network, which includes 13 brands, and healthy network of Suzuki dealers.