ATHEX: PLAT
Reuters: THRr.AT
Bloomberg: PLAT GA
The purpose of the current release is to present the Group’s financial results for the 9-month period of 2018 and to highlight the basic factors that contributed to such.
The 9-month period was characterized by an increase in the consolidated sales volume by 1.5%, higher consolidated turnover by 2.6% and also by a contraction in the Gross Profit Margin which was mainly due to the higher raw material prices.
The constant increase in the raw material prices, the time delay as well as the inability, in some cases, to transfer the higher cost -to its entirety- into the final price had a negative effect on the Gross Profit margin. That effect was even stronger in the case of the subsidiary in Scotland, where given the BREXIT conditions the exchange ratio EUR/GBP led to an even higher increase in the raw material prices, an increase which was ultimately not feasible to be transferred into the final sale prices.
Finally, the positive foreign exchange differences that mainly derived from appreciation of the dollar versus the euro had a favorable effect on the Group’s results.
Specifically, the basic financial figures of the Group during the 9-month period of the year as compared to the same period of 2017 settled as following:
(amounts in Euro million) |
9-Month 2018 |
9-Month 2017 |
% Μεταβολής |
Consolidated Turnover |
249.56 |
243.22 |
+2.6% |
Consolidated Gross Profit |
51.31 |
52.30 |
-1.9% |
Consolidated ΕΒΙΤ* |
14.93 |
14.95 |
-0.1% |
Consolidated EBITDA* |
25.16 |
24.69 |
+1.9% |
Consolidated EBT |
12.21 |
11.69 |
+4.5% |
Consolidated EATAM |
8.65 |
8.47 |
+2.1% |
Basic Earnings per Share (in Euro) |
0.1978 |
0.1937 |
+2.1% |
The total Equity on 30.09.2018 amounted to € 148.8 million compared to € 137.5 million on 31.12.2017 and the Net Bank Debt amounted to € 75.5 million compared to € 57.8 million on 31.12.2017. The ratio Net Bank Debt / Total Equity settled at 0,51x compared to 0.42x on 31.12.2017.
* Note
Alternative Performance Measures (APM):During the description of the developments and the performance of the Group, ratios such as the EBIT and the EBITDA are utilized.
EBIT (The indicator of earnings before the financial and investment activities as well as the taxes): The EBIT serves the better analysis of the Group’s operating results and is calculated as follows: Turnover plus other operating income minus the total operating expenses, before the financial and investment activities. The EBIT margin (%) is calculated by dividing the EBIT by the turnover.
EBITDA (The indicator of operating earnings before the financial and investment activities as well as the depreciation, amortization, impairment and taxes): The EBITDA serves the better analysis of the Group’s operating results and is calculated as follows: Turnover plus other operating income minus the total operating expenses before the depreciation of fixed assets, the amortization of grants and the impairments, as well as before the financial and investment activities. The EBITDA margin (%) is calculated by dividing the EBITDA by the turnover.