ΣΦΑΚΙΑΝΑΚΗΣ Α.Ε.Β.Ε.
Press Release
During the Company's General Meeting of Shareholders held on 12/06/2009 the financial statements for fiscal year 2008 were approved, and reference was made to the profitable results of the first quarter of 2009 as well as to forecasts for fiscal year 2009.
For fiscal year 2008, Company's administration taking into account the economic conditions as they are formed by the global credit and economic crisis, does not propose the distribution of dividend in order to strengthen the Company's capital.
- 1/1-31/03/2009
Company's turnover, during the first quarter of 2009, amounted to euro 76.8 mil., while operating results (EBITDA) amounted to euro 5.6 mil. and profit before tax reached euro 602.7 th.
At group level, turnover during the first quarter of 2009 amounted to euro 92.0 mil. presenting a decrease by 20.48% compared to the respective period of 2008, operating results (EBITDA) amounted to euro 9.5 mil. and profit before tax reached euro 98.1 th.
- Forecast 31/12/2009
Group's turnover for fiscal year 2009 is expected to come up to around euro 500.0 mil. and profit before tax to reach about euro 6.0 mil.
It should be noted that the recent measures-incentives of the government for the car market through the reduction of registration tax, have shown very encouraging results and have significantly boost sales of new cars, having as a result in May for Suzuki to occupy the 5th position among the importers with a market share of 5.6%. The indications for the current month June are very positive, leaving room for optimism for a global car market for 2009 of about 200 to 220 thousand units.
Under the adjustment program in the context of deep economic crisis Sfakianakis Group of Companies has directly and flexibly adjust its policy in order to continue its long successful story and given the positive cash flows from operating activities and the adequate liquidity that already has it aims and in 2009 to achieve profitable results as well as a reduction in its borrowing while maintaining its leading position in the industry.
For fiscal year 2008, Company's administration taking into account the economic conditions as they are formed by the global credit and economic crisis, does not propose the distribution of dividend in order to strengthen the Company's capital.
- 1/1-31/03/2009
Company's turnover, during the first quarter of 2009, amounted to euro 76.8 mil., while operating results (EBITDA) amounted to euro 5.6 mil. and profit before tax reached euro 602.7 th.
At group level, turnover during the first quarter of 2009 amounted to euro 92.0 mil. presenting a decrease by 20.48% compared to the respective period of 2008, operating results (EBITDA) amounted to euro 9.5 mil. and profit before tax reached euro 98.1 th.
- Forecast 31/12/2009
Group's turnover for fiscal year 2009 is expected to come up to around euro 500.0 mil. and profit before tax to reach about euro 6.0 mil.
It should be noted that the recent measures-incentives of the government for the car market through the reduction of registration tax, have shown very encouraging results and have significantly boost sales of new cars, having as a result in May for Suzuki to occupy the 5th position among the importers with a market share of 5.6%. The indications for the current month June are very positive, leaving room for optimism for a global car market for 2009 of about 200 to 220 thousand units.
Under the adjustment program in the context of deep economic crisis Sfakianakis Group of Companies has directly and flexibly adjust its policy in order to continue its long successful story and given the positive cash flows from operating activities and the adequate liquidity that already has it aims and in 2009 to achieve profitable results as well as a reduction in its borrowing while maintaining its leading position in the industry.