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.