ΑΛΦΑ-ΒΗΤΑ ΒΑΣΙΛΟΠΟΥΛΟΣ A.E.
Press Release
PRESS RELEASE ON PUBLICATION OF 1ST SEMESTER 2009 RESULTS
ATHENS- "ALFA-BETA" VASSILOPOULOS (Athens Stock Exchange: BASIK) announced today the financial results of 1st semester 2009 which also included the results of HOLDING AND FOOD TRADING COMPANY SINGLE PARTNER LIMITED LIABILITY COMPANY & CO LIMITED PARTNERSHIP and HOLDING AND FOOD TRADING COMPANY SINGLE PARTNER LIMITED LIABILITY COMPANY that were acquired in Q2 2008. For this reason, the financial results of the period 01.01.2009-30.06.2009 are not comparable to those of the prior year΄s corresponding period.
During the period 01.01.2009-30.06.2009:
Consolidated Revenue amounted to 714.4 million EUR from 642.9 million EUR in 2008, an increase of 11.1%, while standalone Revenue amounted to 682.2 million EUR from 624.6 million EUR in 2008, an increase of 9.1%.
Consolidated Operating Profit amounted to 19.4 million EUR from 13.9 million EUR in 2008. For "ALFA-BETA" standalone Operating Profit remained at the same level to that of 2008 and amounted to 19.1 million EUR.
Consolidated Net Profit amounted to 10.5 million EUR from 8.4 million EUR in 2008. For "ALFA-BETA" standalone Net Profit amounted to 10.8 million EUR compared to 12.6 million EUR in 2008.
Business in 1st semester 2009
During the first semester of 2009, the general inflation rate reached 1.1 % as compared to the corresponding period of 2008. Despite the increased inflation, the negative economic environment led to a slight overall contraction in the organized retail sales market as compared to the corresponding period of 2008. However, "ALFA-BETA" further increased its market share during the first semester of 2009.
During this period, "ALFA-BETA" continued its competitive price policy further strengthening the value-for-money offered in its products and services.
With regard to its organic expansion, "ALFA-BETA" continued organic development activity with the opening of six new company operated stores in Ano Liossia, Giannitsa, Agios Ioannis Rentis, Menidi, Chania and in Lefkada island. Moreover, a new franchise store was inaugurated in Andros island. At the end of the period, the Group΄s sales network numbered 203 stores of which 122 are company operated retail stores, 32 are retail stores of HOLDING AND FOOD TRADING COMPANY SINGLE PARTNER LIMITED LIABILITY COMPANY & CO LIMITED PARTNERSHIP, 39 are franchise stores, and 10 are wholesale stores operating under the banner ENA Cash-and-Carry.
1st SEMESTER 2009 RESULTS
"ALFA-BETA" VASSILOPOULOS S.A. 01.01.2009-30.06.2009 01.01.2008-30.06.2008
Change Consolidated Results (in thousand EUR)
Revenue 714.399 642.908 11,1%
Gross Profit 163.122 140.533 16,1%
On Revenues 22,8% 21,9%
Operating Expenses 146.793 129.651 13,2%
On Revenues 20,5% 20,2% EBITDA 33.549 25.262 32,8%
On Revenues 4,7% 3,9%
Operating Profit 19.407 13.917 39,4%
On Revenues 2,7% 2,2%
Profit before Tax 16.316 12.567 29,8%
On Revenues 2,3% 2,0%
Profit after Tax & Minority Rights 10.510 8.395 25,2%
On Revenues 1,5% 1,3%
During the period from 01.01.2009 up to 30.06.2009, Consolidated Revenues reached 714.4 million EUR from 642.9 in 2008, an increase of 11.1% due to the Company΄s competitive price policy, to the contribution of new stores as well as to the increased contribution of stores of HOLDING AND FOOD TRADING COMPANY SINGLE PARTNER LIMITED LIABILITY COMPANY & CO LIMITED PARTNERSHIP.
Consolidated Gross Profit reached 163.1 million EUR from 140.5 million EUR in 2008, an increase of 16.1% mainly due to the increased contribution of private label products as well as to the significant improvement in the gross profit of HOLDING AND FOOD TRADING COMPANY SINGLE PARTNER LIMITED LIABILITY COMPANY & CO LIMITED PARTNERSHIP.
Consolidated Operating Expenses reached 146.8 million EUR from 129.7 million EUR in 2008 thus increasing by 13.2%. This increase is mainly due to expenses of HOLDING AND FOOD TRADING COMPANY SINGLE PARTNER LIMITED LIABILITY COMPANY & CO LIMITED PARTNERSHIP that was not part of the Group in Q1 2009.
Consolidated Profit before Tax, Financial, Investing Activities, Depreciation and Amortization (EBITDA) reached 33.5 million EUR from 25.3 million EUR in 2008, an increase of 32.8%, due to the increase in sales and gross profit.
For the same reason, Consolidated Operating Profit amounted to 19.4 million EUR compared with 13.9 million EUR in 2008.
Consolidated Profit before Tax amounted to 16.3 million EUR against 12.6 million EUR in 2008 and was also affected by an increase in finance costs in comparison with the prior year?s corresponding period.
Correspondingly, Consolidated Net Profit reached 10.5 million EUR against 8.4 million EUR in 2008.
OUTLOOK 2009
For the second semester of 2009, "ALFA-BETA" VASSILOPOULOS plans to add 9 new stores to its network, including those of the franchise network.
"ALFA-BETA" VASSILOPOULOS S.A.
"ALFA-BETA" VASSILOPOULOS S.A., is a food retail company established in 1969 and member of the Belgian Delhaize Group since 1992. At the end of 2008, the Group "ALFA-BETA" operated 201 stores (150 company operated food retail sales points, 10 cash-and-carry stores, & 41 affiliated stores) and employed 8,821 people. In 2008, Consolidated Turnover amounted to EUR 1,337.1 million and Consolidated Profit before tax to EUR 41.0 million. "ALFA-BETA" VASSILOPOULOS S.A. is listed on the Athens Stock Exchange (BASIK) since 1990.
ATHENS- "ALFA-BETA" VASSILOPOULOS (Athens Stock Exchange: BASIK) announced today the financial results of 1st semester 2009 which also included the results of HOLDING AND FOOD TRADING COMPANY SINGLE PARTNER LIMITED LIABILITY COMPANY & CO LIMITED PARTNERSHIP and HOLDING AND FOOD TRADING COMPANY SINGLE PARTNER LIMITED LIABILITY COMPANY that were acquired in Q2 2008. For this reason, the financial results of the period 01.01.2009-30.06.2009 are not comparable to those of the prior year΄s corresponding period.
During the period 01.01.2009-30.06.2009:
Consolidated Revenue amounted to 714.4 million EUR from 642.9 million EUR in 2008, an increase of 11.1%, while standalone Revenue amounted to 682.2 million EUR from 624.6 million EUR in 2008, an increase of 9.1%.
Consolidated Operating Profit amounted to 19.4 million EUR from 13.9 million EUR in 2008. For "ALFA-BETA" standalone Operating Profit remained at the same level to that of 2008 and amounted to 19.1 million EUR.
Consolidated Net Profit amounted to 10.5 million EUR from 8.4 million EUR in 2008. For "ALFA-BETA" standalone Net Profit amounted to 10.8 million EUR compared to 12.6 million EUR in 2008.
Business in 1st semester 2009
During the first semester of 2009, the general inflation rate reached 1.1 % as compared to the corresponding period of 2008. Despite the increased inflation, the negative economic environment led to a slight overall contraction in the organized retail sales market as compared to the corresponding period of 2008. However, "ALFA-BETA" further increased its market share during the first semester of 2009.
During this period, "ALFA-BETA" continued its competitive price policy further strengthening the value-for-money offered in its products and services.
With regard to its organic expansion, "ALFA-BETA" continued organic development activity with the opening of six new company operated stores in Ano Liossia, Giannitsa, Agios Ioannis Rentis, Menidi, Chania and in Lefkada island. Moreover, a new franchise store was inaugurated in Andros island. At the end of the period, the Group΄s sales network numbered 203 stores of which 122 are company operated retail stores, 32 are retail stores of HOLDING AND FOOD TRADING COMPANY SINGLE PARTNER LIMITED LIABILITY COMPANY & CO LIMITED PARTNERSHIP, 39 are franchise stores, and 10 are wholesale stores operating under the banner ENA Cash-and-Carry.
1st SEMESTER 2009 RESULTS
"ALFA-BETA" VASSILOPOULOS S.A. 01.01.2009-30.06.2009 01.01.2008-30.06.2008
Change Consolidated Results (in thousand EUR)
Revenue 714.399 642.908 11,1%
Gross Profit 163.122 140.533 16,1%
On Revenues 22,8% 21,9%
Operating Expenses 146.793 129.651 13,2%
On Revenues 20,5% 20,2% EBITDA 33.549 25.262 32,8%
On Revenues 4,7% 3,9%
Operating Profit 19.407 13.917 39,4%
On Revenues 2,7% 2,2%
Profit before Tax 16.316 12.567 29,8%
On Revenues 2,3% 2,0%
Profit after Tax & Minority Rights 10.510 8.395 25,2%
On Revenues 1,5% 1,3%
During the period from 01.01.2009 up to 30.06.2009, Consolidated Revenues reached 714.4 million EUR from 642.9 in 2008, an increase of 11.1% due to the Company΄s competitive price policy, to the contribution of new stores as well as to the increased contribution of stores of HOLDING AND FOOD TRADING COMPANY SINGLE PARTNER LIMITED LIABILITY COMPANY & CO LIMITED PARTNERSHIP.
Consolidated Gross Profit reached 163.1 million EUR from 140.5 million EUR in 2008, an increase of 16.1% mainly due to the increased contribution of private label products as well as to the significant improvement in the gross profit of HOLDING AND FOOD TRADING COMPANY SINGLE PARTNER LIMITED LIABILITY COMPANY & CO LIMITED PARTNERSHIP.
Consolidated Operating Expenses reached 146.8 million EUR from 129.7 million EUR in 2008 thus increasing by 13.2%. This increase is mainly due to expenses of HOLDING AND FOOD TRADING COMPANY SINGLE PARTNER LIMITED LIABILITY COMPANY & CO LIMITED PARTNERSHIP that was not part of the Group in Q1 2009.
Consolidated Profit before Tax, Financial, Investing Activities, Depreciation and Amortization (EBITDA) reached 33.5 million EUR from 25.3 million EUR in 2008, an increase of 32.8%, due to the increase in sales and gross profit.
For the same reason, Consolidated Operating Profit amounted to 19.4 million EUR compared with 13.9 million EUR in 2008.
Consolidated Profit before Tax amounted to 16.3 million EUR against 12.6 million EUR in 2008 and was also affected by an increase in finance costs in comparison with the prior year?s corresponding period.
Correspondingly, Consolidated Net Profit reached 10.5 million EUR against 8.4 million EUR in 2008.
OUTLOOK 2009
For the second semester of 2009, "ALFA-BETA" VASSILOPOULOS plans to add 9 new stores to its network, including those of the franchise network.
"ALFA-BETA" VASSILOPOULOS S.A.
"ALFA-BETA" VASSILOPOULOS S.A., is a food retail company established in 1969 and member of the Belgian Delhaize Group since 1992. At the end of 2008, the Group "ALFA-BETA" operated 201 stores (150 company operated food retail sales points, 10 cash-and-carry stores, & 41 affiliated stores) and employed 8,821 people. In 2008, Consolidated Turnover amounted to EUR 1,337.1 million and Consolidated Profit before tax to EUR 41.0 million. "ALFA-BETA" VASSILOPOULOS S.A. is listed on the Athens Stock Exchange (BASIK) since 1990.