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