PETROS PETROPOULOS S.A.

Group Financial Report, First Quarter 2015

 Review

Group invoiced sales increased by 53,6% to €17,5 mio (€11,4 mio in 2014).

 

Earnings before income tax increased to €871.000 (€5.000 in 2014), while earnings after income tax and minority rights rose to €656.000 (€44.000 losses in 2014).

 

Net debt decreased by 10,6% to €8.4 mio (€9.4 mio at the end of 2014).

Equity amounted to €32.7 mio (€32.1 mio).

 

Group Solvency (Equity as a percentage of Total Assets without Cash and Cash Equivalents) as at 31 March 2015 was 57,5%.

 

Summary Consolidated Profit & Loss Statement  (in 000 Euro).

                                                                                                           Jan 1- March 31

 

2015

2014

Invoiced Sales

17,510

11,401

Gross Profit

3,255

2,418

Other Income

300

347

Administrative, Selling & Marketing Expenses

(2,309)

(2,421)

Other Expenses

(7)

(2)

Operating Profit /(Loss)

1,239

342

Net Financial Income (Expenses) and Fx Gain (Loss)

(368)

(337)

Depreciation included in Operating Cost

214

205

Net Profit / (Loss) Before Income Tax           

871

5

Income Tax

(215)

(49)

Net Profit (Loss) After Income Tax

656

(44)

Minority Rights

0

0

Net Profit (Loss) After Income Tax & Minority Rights

656

(44)

Earnings per Share

0.095

(0.006)

                       

 Summary Consolidated Balance Sheet (in 000 Euro).

 

 

31/3/2015

31/12/2014

Assets

 

 

Current Assets

 

 

Cash & Securities

12,696

13,312

Accounts Receivable

13,669

14,824

Inventories

8,177

8,301

Other Receivables

2,078

1,840

 

 

 

Non Current Assets

 

 

Intangible Assets

1,998

2,091

Tangible Assets

27,275

27,265

Long Term Accounts Receivable

1,755

1,882

Other Long Term Assets

1,832

1,837

Total

69,480

71,352

 

 

 

Liabilities

 

 

Short Term Bank Debt

15,292

12,881

Customer Advances

13,415

14,406

 

 

 

Long Term Bank Debt

5,800

9,800

Other Long Term Liabilities

2,301

2,115

 

 

 

Net  Worth

32,672

32,150

                                                                                   

 

Petros Petropoulos AEBE was established in Thessaloniki 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.