*Consolidated sales at EUR 195.4 mn(+8%)
*EBITDA at EUR 15.7 (-18%)
*EAT & Minorities at EUR 6.9 (+25%)
Consolidated sales for the nine months of 2009 advanced by 8% to EUR 195.4 million from EUR 180.8 million in 2008?s respective period. Consolidated EBITDA came in at EUR 15.7 million in the nine months of 2009 from EUR 19.2 million in 2008 respective period posting a deceleration of 18%, affected mainly by the Romanian operations due to the depreciation of RON vs EUR and the decrease in consumer spending. FX losses affected the expenses and stood at EUR 2.6 million in the 9M 2009 from EUR 1.9 million in the 9M 2008.
Despite the aforementioned negative effect, net expenses decreased to 35.7% of sales from 36.3% in the 9M of 2009.
Consolidated EBT came in at EUR 10.1 million from EUR 9.8 million in 2008, posting an increase of 3%. Recall that during the 1st quarter of 2009 our Group recorded as financial income a one-off gain of EUR 5.2 million. The consolidated EATAM (Earnings after taxes and minorities) during 9M 2009 reached EUR 6.9 million from EUR 5.6 million in 2008, increased by almost 25% Divisional breakdown
In the department stores arm, for the 9M of 2009, sales advanced by 23% to EUR 106.8 million. In the retail arm, sales in 9M 2009 declined by 5% yoy to EUR 49.3 million, with difference derived mainly from the translation of Romanian sales with 25% unfavorable currency. As far as the wholesale arm is concerned, sales in 9M 2009 decreased by 4% yoy to EUR 32.8 million. Gym equipment sales declined to EUR 2,1 million, motorcycle sales declined by 13% yoy to EUR 3.4 million and other sales stood at EUR 1 million.