Q2 2019 Report Release
Group Financial Report, Second Quarter 2019
Group invoiced sales increased by 27.8% to €57.27 m (€44.80m at 30.6.2018).
Group EBIDTA increased by 1% to €2.85m (€2.83m at 30.6.2018)
Earnings before income tax increased by 11% to €1.99m (€1.80m at 30.6.2018), while earnings after income tax and minority rights decreased by 27.5% to €0.87m (€1.2m at 30.6.2018). This decrease is attributed to income tax of €561,256 that was added as a result of the tax audit for the years 2014, 2015 and 2016.
Total bank borrowing increased by 5% to €17.40m (€16.57m at 31.12.2018), net debt was increased also by 47.72% to €13m (€8.8m at 31.12.2018). Cash and cash equivalents decreased to by 43,35% to €4.39m as at 30.06.2019 (€7.75m as at 31.12.2018).
Group Solvency (Equity as a percentage of Total Assets without Cash and Cash Equivalents) as at 30 June 2019 was 53.25%.
Summary Consolidated Profit & Loss Statement (in 000 Euro).
Jan 1- June 30
|
|
2019 |
2018 |
|
Invoiced Sales |
57,272 |
44,800 |
|
Gross Profit |
9,687 |
8,884 |
|
Other Income |
931 |
827 |
|
Administrative, Selling & Marketing Expenses |
(7,860) |
(7,142) |
|
Other Expenses |
(273) |
(109) |
|
Operating Profit /(Loss) |
2,485 |
2,460 |
|
Net Financial Income (Expenses) and Fx Gain (Loss) |
(487) |
(657) |
|
Depreciation included in Operating Cost |
369 |
367 |
|
Net Profit / (Loss) Before Income Tax |
1,998 |
1,803 |
|
Income Tax |
(1,129) |
(587) |
|
Net Profit (Loss) After Income Tax |
869 |
1,216 |
|
Minority Rights |
0 |
0 |
|
Net Profit (Loss) After Income Tax & Minority Rights |
869 |
1,216 |
|
Earnings per Share |
0.123 |
0.173 |
Summary Consolidated Balance Sheet (in 000 Euro).
|
|
30/6/2019 |
31/12/2018 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash & Securities |
4,396 |
7,750 |
|
Accounts Receivable |
19,525 |
16,826 |
|
Inventories |
14,309 |
12,832 |
|
Other Receivables |
7,703 |
3,974 |
|
|
|
|
|
Non Current Assets |
|
|
|
Intangible Assets |
568 |
717 |
|
Tangible Assets |
17,771 |
17,052 |
|
Long Term Accounts Receivable |
393 |
335 |
|
Other Long Term Assets |
2,305 |
2,314 |
|
Total |
66,970 |
61,800 |
|
|
|
|
|
Liabilities |
|
|
|
Short Term Bank Debt |
11,653 |
8,954 |
|
Customer Advances |
14,353 |
11,439 |
|
|
|
|
|
Long Term Bank Debt |
5,750 |
7,625 |
|
Other Long Term Liabilities |
1,895 |
1,725 |
|
|
|
|
|
Net Worth |
33,319 |
32,057 |
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 lubricants and tires. The Company has a leading position in the Greek market in the sectors which it serves.
For further information, please contact Mrs. Athina Tsiagka, tel.:210 3499211.