GROUP FINANCIAL RESULTS OF 9-MONTH PERIOD 2015
PRESS RELEASE
Tuesday, 24 November 2015
GROUP FINANCIAL RESULTS OF 9-MONTH PERIOD 2015
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The purpose of the current release is to present the Group's financial results for the 9-month period of the year 2015 and to highlight the basic factors that contributed to such.
The positive course of the Group's results during the previous two quarters (when these are compared to the respective quarters of 2014) continued in the third quarter of 2015 as well.
The increase in Turnover by 4.8% in the 9-month period of 2015 compared to the same period of 2014 was mainly due to the positive effect of the EUR/USD and GBP/EUR exchange rates. Sales volume on Group level was slightly increased compared to the 9-month period of 2014.
Profit margins were significantly improved in the two major segments of activity, the Technical Fabrics and Packaging Units, mostly due to product mix improvements and to a smaller extent due to the positive effect of the exchange rates and the drop in raw material prices.
More specifically, the basic financial figures of the Group during the 9-month period of 2015 as compared to the corresponding period of 2014, settled as follows:
|
Consolidated Turnover |
€ 222.6 million versus € 212.4 million in 9M 2014 |
(+4.8% ) |
|
Cons. Gross Profit |
€ 47.4 million versus € 39.6 million in 9M 2014 |
(+19.5%) |
|
Cons. ΕΒΙΤ |
€ 17.2 million versus € 11.2 million in 9M 2014 |
(+53.4%) |
|
Cons. EBITDA |
€ 24.5 million versus € 17.7 million in 9M 2014 |
(+38.8% ) |
|
Cons. EBT |
€ 13.2 million versus € 8.0 million in 9M 2014 |
(+64.3% ) |
|
Cons. EATAM |
€ 9.8 million versus € 6.3 million in 9M 2014 |
(+56.7% ) |
|
Basic Earnings per share (in €) |
0.2207 versus 0.1389 million in 9M 2014 |
(+58.9%) |
The Net Bank Debt on 30.09.2015 amounted to € 40.5 million versus € 32.7 million on 31.12.2014 due to the capital that was needed during the 9-month period for the purchase of machinery equipment in the context of the planned investments for the fiscal year 2015. The “Net Bank Debt to Equity” ratio remained unchanged at 0.3.
Specifically, the investments of the Group for the year 2015 which are currently under progress account for € 28.3 million as of today whereas until the end of the year additional investments are expected to be implemented amounting to € 4 million. The largest part of the above investments is implemented by the Greek subsidiaries of the Group and mainly refers to the purchase of new production lines concerning products that will address the international markets. The new production lines are expected to commence operations in the first half of 2016. The financing of the largest part of the investment plan is based on financial leasing and own cash reserves, whereas bank debt is utilized to a smaller extent.
For further clarifications or information regarding the present release you may refer to Ms Ioanna Karathanasi, Head of Investor Relations, tel: + 30 210-9875081.
IR RELEASE