Group Financial Report, Third Quarter 2011
November 16, 2011
Group Financial Report, Third Quarter 2011
Review
Group invoiced sales for the nine months to September 30th 2011 decreased by 4.6%, to €47.6 mio (€49.8 mio in 2010). Total group sales (including indent sales) also decreased by 4,6 % to € 47.9 mio (€ 50.3 mio in 2010).
Net profit after tax and minority rights was reduced to € -0,65 mio (€ 2.6 mio in 2010).
Group Solvency (Equity as a percentage of Total Liabilities without Cash and Securities) as at Sept 30, 2011 was 47.8%.
Summary Consolidated Profit & Loss Statement (in 000 Euro).
Jan 1- Sept 30
|
|
2011 |
2010 |
|
Total Sales |
47.988 |
50.307 |
|
Indent Sales |
379 |
409 |
|
Invoiced Sales |
47.609 |
49.898 |
|
Gross Profit |
9.617 |
10.636 |
|
Other Income |
1.645 |
1.079 |
|
Administrative, Selling & Marketing Expenses |
(10.722) |
(10.920) |
|
Other Expenses |
(120) |
(66) |
|
Operating Profit |
420 |
729 |
|
Bargain Purchase Gain |
0 |
3.414 |
|
Net Financial Income (Expenses) and Fx Gain (Loss) |
(950) |
(957) |
|
Depreciation included in Operating Cost |
1.045 |
939 |
|
Net Profit Before Income Tax |
(531) |
3.186 |
|
Taxes |
(119) |
(558) |
|
Net Profit After Income Tax |
(650) |
2.628 |
|
Minority Rights |
0 |
0 |
|
Net Profit After Income Tax & Minority Rights |
(650) |
2.628 |
|
Earnings per Share |
(0,09) |
0,38 |
Summary Consolidated Balance Sheet (in 000 Euro).
|
|
30/9/2011 |
31/12/2010 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash & Securities |
4.067 |
5.701 |
|
Accounts Receivable |
25.336 |
27.768 |
|
Inventories |
12.323 |
13.282 |
|
Other Receivables |
1.446 |
2.764 |
|
|
|
|
|
Non Current Assets |
|
|
|
Intangible Assets |
2.860 |
3.369 |
|
Tangible Assets |
37.431 |
37.399 |
|
Long Term Accounts Receivable |
5.613 |
6.716 |
|
Other Long Term Assets |
1.736 |
1.682 |
|
Total |
90.812 |
98.681 |
|
|
|
|
|
Liabilities |
|
|
|
Short Term Bank Debt |
10.155 |
10.251 |
|
Customer Advances |
14.101 |
19.279 |
|
|
|
|
|
Long Term Bank Debt |
21.200 |
21.200 |
|
Other Long Term Liabilities |
3.909 |
5.091 |
|
|
|
|
|
Net Worth |
41.447 |
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 Ms. Athina Tsiaga, tel.: 210 3499211.