Group Financial Report, Third Quarter 2012
Review
Group invoiced sales for the nine months to September 30th 2012 decreased by 26%, to €35.2 mio (€47.6 mio in 2011). Total group sales (including indent sales) also decreased by 26,4 % to € 35.3 mio (€ 47.9 mio in 2011).
Net profit after tax and minority rights was reduced to €-2.5 mio (€-0.65 mio in 2011).
Group Solvency (Equity as a percentage of Total Liabilities without Cash and Securities) as at Sept 30, 2012 was 47.1%.
Summary Consolidated Profit & Loss Statement (in 000 Euro).
Jan 1- Sept 30
|
|
2012 |
2011 |
|
Total Sales |
35,306 |
47,988 |
|
Indent Sales |
78 |
379 |
|
Invoiced Sales |
35,228 |
47,609 |
|
Gross Profit |
7,174 |
9.617 |
|
Other Income |
1,022 |
1,645 |
|
Administrative, Selling & Marketing Expenses |
(9,244) |
(10,722) |
|
Other Expenses |
(59) |
(120) |
|
Operating Profit |
(1,107) |
420 |
|
Bargain Purchase Gain |
0 |
0 |
|
Net Financial Income (Expenses) and Fx Gain (Loss) |
(1,221) |
(950) |
|
Depreciation included in Operating Cost |
1,115 |
1,045 |
|
Net Profit Before Income Tax |
(2,328) |
(531) |
|
Taxes |
(203) |
(119) |
|
Net Profit After Income Tax |
(2,531) |
(650) |
|
Minority Rights |
0 |
0 |
|
Net Profit After Income Tax & Minority Rights |
(2,531) |
(650) |
|
Earnings per Share |
(0.36) |
(0.09) |
Summary Consolidated Balance Sheet (in 000 Euro).
|
|
30/9/2012 |
31/12/2011 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash & Securities |
4,113 |
5,747 |
|
Accounts Receivable |
21,080 |
24,935 |
|
Inventories |
11,911 |
11,099 |
|
Other Receivables |
2,246 |
4.867 |
|
|
|
|
|
Non Current Assets |
|
|
|
Intangible Assets |
2,402 |
2,961 |
|
Tangible Assets |
36,848 |
37,348 |
|
Long Term Accounts Receivable |
3,964 |
4,637 |
|
Other Long Term Assets |
1,799 |
1,716 |
|
Total |
84,363 |
93,309 |
|
|
|
|
|
Liabilities |
|
|
|
Short Term Bank Debt |
15,487 |
13,447 |
|
Customer Advances |
11,043 |
16,069 |
|
|
|
|
|
Long Term Bank Debt |
16,773 |
20,020 |
|
Other Long Term Liabilities |
3,253 |
3,441 |
|
|
|
|
|
Net Worth |
37,807 |
40,332 |
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 Ms.Athina Tsiaga, tel.: 210 3499211.