PETROS PETROPOULOS S.A.

Group Income and Financial Condition - 2014

 

 

Review

 

Group sales increased by 21% to million €66.4 million (€55.1 million in 2013).

 

The markets served by the Group developed in 2014 better than originally estimated and as a result sales increased more than planned.

 

Group ΕΒΙTDA increased by 30.6% to € 4,017,000 compared to €3,076,000 in 2013.

 

Earnings before income tax increased to €1.890.000 (€709.000 in 2013), while earnings after income tax and minority rights rose to €1.425.000 (€612.000 in 2013).

 

Total bank borrowing decreased to € 22.7 million (€26.3 million). Net debt also decreased by 23.1% to € 9.4 million (€12.2 million)

 

Equity amounted to €32.1million (€30.8 million).

 

The capital adequacy ratio (Equity as a percentage of Total Assets without Cash and Cash Equivalents) remained at a high level of 55.4% (51.4%).
Summary Consolidated Profit & Loss Statement  (in € 000).

 

 

                                                                                                              1 Jan - 31 Dec

 

    2014

  2013

Total Sales

66,558

55,367

Indent Sales

131

306

Invoiced Sales

66,427

55.061

Gross Profit

12,659

10,485

Other Income

1,640

1,369

Administrative, Selling & Marketing Expense

(10,826)

(9,431)

Other Expenses

(352)

(195)

Operating Profit

3,121

2,229

Net Financial Income (Expense)

(1,231)

(1,519)

Depreciation included in Operating Cost

896

847

Net Profit before Income Tax        

1,890

709

Income Taxes

(465)

(97)

Net Profit after Income Tax

1,425

612

Minority Interests

0

0

Net Profit After Income Tax & Minority Interests

1,425

612

Earnings per Share

0.21

0.09

                                                                                                  

   Summary Balance Sheet Items before Profit Distribution (in € 000)

 

 

31/12/2014

31/12/2013

Assets

 

 

Current Assets

 

 

Cash & Cash Equivalents

13,312

14,149

Accounts Receivable

14,824

14,805

Inventories

8,301

9,123

Other Receivables

1,840

1,701

 

 

 

Non Current Assets

 

 

Intangible Assets

2,091

2,449

Tangible Assets

27,265

27,537

Long term Accounts Receivable

1,882

2,411

Other Long Term Assets

1,837

2,071

Total

71,352

74,246

Liabilities

 

 

Short Term Bank Debt

12,881

8,737

Other Short Term Liabilities

14,406

15,064

 

 

 

Long Term Bank Debt

9,800

17,600

Other Long Term Liabilities

2,115

1,961

 

 

 

Equity

32,150

30,884

                                                                             

 

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.

 

For further information, please contact Mrs. Athina Tsiaga, tel. 30 210 3499211