Α.Γ.Ε.Τ. ΗΡΑΚΛΗΣ
HERACLES GROUP ANNOUNCES FIRST QUARTER 2009 RESULTS
Cost management contributes to maintaining positive profit margins Decreased sales due to negative global context
HERACLES Group of Companies announced today sales amounting to 121,0 million Euros for the first quarter of 2009, decreasing by 28,1% compared to the same period in 2008. Sales of the Company were at 108,3 million Euros, decreasing by 28,9% compared to the first quarter in 2008. The declining market for cement and other construction materials (mainly as a result of the decrease of private construction activity), due to the negative global context, negatively impacted the turnover in the first quarter of 2009. Savings throughout the supply chain by actions to control fixed and variable cost, favourable phasing effects of major repairs and the timing of inflows, helped maintain positive profit margins. The Group's gross margin for the first quarter of 2009 was at 31,5% and the Company's at 28,7%, up from 17,4% and 19,3% respectively in the same period of 2008.
Net profit after taxes for the Group amounted to 15,1 million Euros in the first quarter of 2009, compared to 1,3 million Euros of the same period in 2008, where the Group?s results had been impacted by previous years? tax obligations. The Company's net profit after taxes was 18,1 million Euros compared to 8,8 million Euros in the corresponding period in 2008.
### 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. 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 83,000 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.
HERACLES Group of Companies announced today sales amounting to 121,0 million Euros for the first quarter of 2009, decreasing by 28,1% compared to the same period in 2008. Sales of the Company were at 108,3 million Euros, decreasing by 28,9% compared to the first quarter in 2008. The declining market for cement and other construction materials (mainly as a result of the decrease of private construction activity), due to the negative global context, negatively impacted the turnover in the first quarter of 2009. Savings throughout the supply chain by actions to control fixed and variable cost, favourable phasing effects of major repairs and the timing of inflows, helped maintain positive profit margins. The Group's gross margin for the first quarter of 2009 was at 31,5% and the Company's at 28,7%, up from 17,4% and 19,3% respectively in the same period of 2008.
Net profit after taxes for the Group amounted to 15,1 million Euros in the first quarter of 2009, compared to 1,3 million Euros of the same period in 2008, where the Group?s results had been impacted by previous years? tax obligations. The Company's net profit after taxes was 18,1 million Euros compared to 8,8 million Euros in the corresponding period in 2008.
### 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. 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 83,000 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.