Group Financial Report, First Quarter 2016
Review
Group invoiced sales increased by 34.8 % to €23.6m (€17.5m at 31.3.2015).
Group EBIDTA was at €1.466m (€1.454m in 31.3.2015)
Earnings before income tax were €831,000 (€871,000 in 2015), while earnings after income tax and minority rights were €618,000 (€656,000 in 31.3.2015).
Total bank borrowing was at €21.9m, (€22.7m at 31.12.2015) while net debt decreased to €0.1m (€4.1m as at 31.12.2015). Cash and cash equivalents increased by 17.2% to €21.8m as at 31.03.2016 compared to €18.6m as at 31.12.2015.
Equity amounted to €31.4m (€30.8m as at 31.12.2015).
Free cash flow rose to €3.8m (€1.0m as in 31.3.2015).
Group Solvency (Equity as a percentage of Total Assets without Cash and Cash Equivalents) as at 31 March 2016 was 59.2%.
Summary Consolidated Profit & Loss Statement (in 000 Euro).
Jan 1- March 31
|
|
2016 |
2015 |
|
Invoiced Sales |
23,664 |
17,510 |
|
Gross Profit |
3,561 |
3,255 |
|
Other Income |
397 |
300 |
|
Administrative, Selling & Marketing Expenses |
(2,609) |
(2,309) |
|
Other Expenses |
(126) |
(7) |
|
Operating Profit /(Loss) |
1.223 |
1,239 |
|
Net Financial Income (Expenses) and Fx Gain (Loss) |
(392) |
(368) |
|
Depreciation included in Operating Cost |
242 |
214 |
|
Net Profit / (Loss) Before Income Tax |
831 |
871 |
|
Income Tax |
(213) |
(215) |
|
Net Profit (Loss) After Income Tax |
831 |
656 |
|
Minority Rights |
0 |
0 |
|
Net Profit (Loss) After Income Tax & Minority Rights |
618 |
656 |
|
Earnings per Share |
0.088 |
0.095 |
Summary Consolidated Balance Sheet (in 000 Euro).
|
|
31/3/2016 |
31/12/2015 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash & Securities |
21,833 |
18,597 |
|
Accounts Receivable |
12,680 |
13,233 |
|
Inventories |
8,445 |
6,111 |
|
Other Receivables |
2,449 |
1,949 |
|
|
|
|
|
Non Current Assets |
|
|
|
Intangible Assets |
1,743 |
1,853 |
|
Tangible Assets |
24,986 |
24,909 |
|
Long Term Accounts Receivable |
1,099 |
1,201 |
|
Other Long Term Assets |
1,640 |
1,640 |
|
Total |
74,875 |
69,493 |
|
|
|
|
|
Liabilities |
|
|
|
Short Term Bank Debt |
15,147 |
15,920 |
|
Customer Advances |
19,501 |
13,766 |
|
|
|
|
|
Long Term Bank Debt |
6,800 |
6,800 |
|
Other Long Term Liabilities |
2,043 |
2,214 |
|
|
|
|
|
Net Worth |
31,384 |
30,793 |
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 Ms. Athina Tsiaga, tel.:210 3499211.