Group Financial Report, Second Quarter 2011
Review
Group invoiced sales decreased by 5%, to €31.7 mio (€33.4 mio in 2010). Total group sales (including indent sales) also decreased by 5% to €31.8 mio (€33.6 mio in 2010).
Net profit after tax and minority rights was reduced to €-460.000 (€53.000 mio in 2010).
Group Solvency (Equity as a percentage of Total Liabilities without Cash and Securities) as at 30 June 2011 was 46.1%.
Summary Consolidated Profit & Loss Statement (in 000 Euros).
Jan 1- June 30
|
|
2011 |
2010 |
|
Total Sales |
31.836 |
33.666 |
|
Indent Sales |
98 |
246 |
|
Invoiced Sales |
31.738 |
33.401 |
|
Gross Profit |
6.398 |
7.267 |
|
Other Income |
1.207 |
689 |
|
Administrative, Selling & Marketing Expenses |
(7.526) |
(6.848) |
|
Other Expenses |
(91) |
(63) |
|
Operating Profit |
(12) |
1.045 |
|
Income from Good Will of Acquisitions |
- |
302 |
|
Net Financial Income (Expenses) and Fx Gain (Loss) |
(486) |
(633) |
|
Depreciation included in Operating Cost |
748 |
362 |
|
Net Profit Before Income Tax |
(497) |
714 |
|
Taxes |
37 |
(661) |
|
Net Profit After Income Tax |
(460) |
53 |
|
Minority Rights |
0 |
0 |
|
Net Profit After Income Tax & Minority Rights |
(460) |
53 |
|
Earnings per Share |
(0.0657) |
0.0076 |
Summary Consolidated Balance Sheet (in 000 Euros).
|
|
30/6/2011 |
31/12/2010 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash & Securities |
7.136 |
5.701 |
|
Accounts Receivable |
26.521 |
27.768 |
|
Inventories |
14.141 |
13.282 |
|
Other Receivables |
1.603 |
2.764 |
|
|
|
|
|
Non Current Assets |
|
|
|
Intangible Assets |
3.041 |
3.369 |
|
Tangible Assets |
37.621 |
37.399 |
|
Long Term Accounts Receivable |
5.847 |
6.716 |
|
Other Long Term Assets |
1.737 |
1.682 |
|
Total |
97.647 |
98.681 |
|
|
|
|
|
Liabilities |
|
|
|
Short Term Bank Debt |
14.406 |
10.251 |
|
Customer Advances |
15.998 |
19.279 |
|
|
|
|
|
Long Term Bank Debt |
21.200 |
21.200 |
|
Other Long Term Liabilities |
4.291 |
5.091 |
|
|
|
|
|
Net Worth |
41.752 |
42.860 |
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.