Group Financial Report, Second Quarter 2015
Review
Group invoiced sales increased by 30%, to €39.5 mio (€30.4 mio in 2014).
EBITDA increased also by 32.4% to €2.841mio (€2.146 mio in 2014).
Earnings before income tax were €586,836 (€1.024.399 in 2014), while earnings after income tax and minority rights were €72,630 (€915,337 in 2014).
Profits were burdened with €1.175.954 of VAT tax that was imposed to theCompanyafter a Tax Inspection for fiscal years 2008-2012, over the amount already paid for those years. Thus repeated profits after tax and minority rights increased by 36,4% to €1,248,584 (€915.337 in 30.6.2014).
Net debt decreased by 25,8% to €10,851 mio (€ 14,622 mio in 30.6.2014). Cash and Securities increased by 69% to €14,806 mio (€ 8,738 mio in 30.6.2014).
Group Solvency (Equity as a percentage of Total Liabilities without Cash and Securities) as at 30 June 2015 was 55%.
Summary Consolidated Profit & Loss Statement (in 000 Euros).
Jan 1- June 30
|
|
2015 |
2014 |
|
Total Sales |
39,616 |
30,425 |
|
Indent Sales |
64 |
52 |
|
Invoiced Sales |
39,552 |
30,373 |
|
Gross Profit |
7,110 |
5,919 |
|
Other Income |
732 |
812 |
|
Administrative, Selling & Marketing Expenses |
(5,343) |
(4,970) |
|
Other Expenses |
(90) |
(20) |
|
Operating Profit |
2,409 |
1,741 |
|
Other Taxes |
(1,176) |
0 |
|
Net Financial Income (Expenses) and Fx Gain (Loss) |
(646) |
(717) |
|
Depreciation included in Operating Cost |
431 |
405 |
|
Net Profit Before Income Tax |
587 |
1,024 |
|
Taxes |
(514) |
(109) |
|
Net Profit After Income Tax |
73 |
915 |
|
Minority Rights |
0 |
0 |
|
Net Profit (Loss) After Income Tax & Minority Rights |
73 |
915 |
|
Earnings per Share |
0.010 |
0.131 |
Summary Consolidated Balance Sheet (in 000 Euros).
|
|
30/6/2015 |
31/12/2014 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash & Securities |
14,806 |
13,312 |
|
Accounts Receivable |
15,899 |
14,824 |
|
Inventories |
7,584 |
8,301 |
|
Other Receivables |
1,976 |
1,840 |
|
|
|
|
|
Non Current Assets |
|
|
|
Intangible Assets |
1,910 |
2,091 |
|
Tangible Assets |
27,358 |
27,265 |
|
Long Term Accounts Receivable |
1,539 |
1,882 |
|
Other Long Term Assets |
1,603 |
1,837 |
|
Total |
72,675 |
71,352 |
|
|
|
|
|
Liabilities |
|
|
|
Short Term Bank Debt |
20,657 |
12,881 |
|
Customer Advances |
12,618 |
14,406 |
|
|
|
|
|
Long Term Bank Debt |
5,000 |
9,800 |
|
Other Long Term Liabilities |
2,554 |
2,115 |
|
|
|
|
|
Net Worth |
31,846 |
32,150 |
Petros Petropoulos AEBE was established in Thessalonica in 1922. It manufactures, modifies, distributes and supports a wide range of automotive products including automobiles, trucks and buses, generating sets, diesel engines, boats, outboard engines, agricultural, earthmoving and industrial equipment, batteries and lubricants. The Company has a leading position in the Greek market in the sectors which it serves.
For further information, please contact Mrs.Athina Tsiaga, tel: 210 3499211.