An increase in turnover reported Autohellas/Hertz for the first quarter of 2009. More specifically consolidated turnover reached euro37.1 mill from euro34.5 mill. in last year s respective period, reporting an increase of 7.8%.
Earning before tax, depreciations, financial and investment results were euro16.6 mill from 13.9 mill.in Q1 of 2008, an increase of 20% with earnings after tax and minority rights reaching euro1,416 thousand from losses of euro349 thousand in the first quarter of 2008.
It is worth mentioning that historically, the first quarter of each year is the lowest, as far as financial figures are concerned, since most of the company s profits and revenues are made in the period between May and October.
Autohellas / Hertz as a parent company increased its revenue by 2.1% reaching euro32mill from euro31.3 mill in the last year s Q1 with earnings before tax, depreciations, financial and investment results reaching euro13.4 mill.
In the current fiscal period, the IAS amendments regarding sale of assets initially acquired for the purpose of renting, have been implemented and as a result the income from these sales is now reported as turnover, with the respective cost reported in cost of goods. As a result, consolidated turnover has been increased by euro7.3 mill in 2009 and euro6.9 mill in 2008.
It is worth mentioning that the group s net worth after the share capital return is now euro106 mill. The capital return that was decided by the extraordinary shareholders meeting in February 2008 and was concluded in May amounted a total of euro47.3mill or euro1.3 per share paid in cash to the company s shareholders.
Finally, the proposed to the general shareholders meeting dividend for 2008 fiscal year will be euro0.12 per share.