Group Financial Report, Third Quarter 2015
Review
Group invoiced sales for the nine months to September 30th 2015 increased by 23% to
€57,189 mio (€46,475 mio in 2014).
EBITDA increased also by 40% to €4,291mio (€3,070 mio in 2014).
Earnings before income tax were €1,568 mio (€1,453 mio in 2014), while earnings after income tax and minority rights were €0.740 mio (€1,367 mio in 2014).
Profits were burdened with €1,156 of VAT tax that was pedantically imposed after 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 39% to €1,896 (€1.367 mio in 2014).
Net debt decreased by 13,5% to €8,103 mio (€9,368 mio on 31.12.2014). Cash and Securities increased by 24% to €16,524 mio (€13,312 mio on 31.12.2014)
Group Solvency (Equity as a percentage of Total Liabilities without Cash and Securities) as at 30 September 2015 was 59% (55% on 31.12.2014).
Summary Consolidated Profit & Loss Statement (in 000 Euro).
Jan 1- Sept 30
|
|
2015 |
2014 |
|
Total Sales |
57,265 |
46,573 |
|
Indent Sales |
76 |
98 |
|
Invoiced Sales |
57,189 |
46,475 |
|
Gross Profit |
10,642 |
9,131 |
|
Other Income |
1,151 |
1,113 |
|
Administrative, Selling & Marketing Expenses |
(7,909) |
(7.753) |
|
Other Expenses |
(255) |
(32) |
|
Operating Profit |
3,629 |
2,459 |
|
Other Taxes |
(1,156) |
0 |
|
Net Financial Income (Expenses) and Fx Gain (Loss) |
(905) |
(1,006) |
|
Depreciation included in Operating Cost |
662 |
611 |
|
Net Profit/(Loss) Before Income Tax |
1,568 |
1,453 |
|
Taxes |
(828) |
(85) |
|
Net Profit/(Loss) After Income Tax |
740 |
1,368 |
|
Minority Rights |
0 |
0 |
|
Net Profit /(Loss)After Income Tax & Minority Rights |
740 |
1,368 |
|
Earnings/(Loss) per Share |
0.105 |
0.196 |
Summary Consolidated Balance Sheet (in 000 Euro).
|
|
30/9/2015 |
31/12/2014 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash & Securities |
16,524 |
13,312 |
|
Accounts Receivable |
13,738 |
14,824 |
|
Inventories |
7,720 |
8,301 |
|
Other Receivables |
1,594 |
1,840 |
|
|
|
|
|
Non Current Assets |
|
|
|
Intangible Assets |
1,963 |
2,091 |
|
Tangible Assets |
27,058 |
27,265 |
|
Long Term Accounts Receivable |
1,365 |
1,882 |
|
Other Long Term Assets |
1,644 |
1,837 |
|
Total |
71,606 |
71,352 |
|
|
|
|
|
Liabilities |
|
|
|
Short Term Bank Debt |
19,627 |
12,881 |
|
Customer Advances |
11,719 |
14,406 |
|
|
|
|
|
Long Term Bank Debt |
5,000 |
9,800 |
|
Other Long Term Liabilities |
2,991 |
2,115 |
|
|
|
|
|
Net Worth |
32,269 |
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.