Press Release - Comments on Financial Results for first quarter 2015
SFAKIANAKISS.A.announced its Interim Financial Statements for the period 01.01-31.03.2015 in accordance with the International Financial Reporting Standards (IFRS).
The first quarter of 2015 Sfakianakis Group of Companies continues to present amelioration in its financial figures and starring dynamically in the main markets in which it operates.
The performance of the main activities of the Group is noticeably improved:
Car trade. The market in the first quarter of 2015 with 17,271 passenger car registrations presented an increase of 4.0% compared to the same period of last year. SUZUKI made 821 car registrations acquiring a market share of 4.8%, which ranks the company in the 8th position among car importers. Retail continues its excellent course gaining a market share in passenger cars 12.7% (from 11.9% in 2014) with sales of 2,199 cars, 131 light trucks and 387 used cars. Total sales of Sfakianakis represent the 14.6% (from 13.6% in 2014) of the Greek market of new cars.
Car Leasing. The revenue of the Long Term Rental (LTR) sector recover by 12.7% while the fleet under management exceeds the 5,000 vehicles maintaining a utilization rate of over 96%. The Rent-A-Car (RAC) sector, exploiting the potential of tourism and the new strong brand ofEnterprise, has increased rents by 6.8% with rent vehicles reaching 2,600.
Heavy vehicles, machinery and industrial goods. The sector in the first quarter of 2015 presents an increase in turnover by 25.5%.
Group's turnover in the first quarter of 2015 amounted to € 48.3 mil., presenting an increase of 4.2% compared to the turnover of the first quarter of 2014 while Company's turnover has been also improved by 5.5% reaching € 43.1 mil.
Gross profit amounted to € 10.2 mil. for the Group and € 4.1 mil. for the Company, presenting an increase of 9.6% and decrease 0.3% respectively.
Group achieves operating profitability with EBITDA at € 2.1 mil. against € 1,5 mil. the relevant period of 2014 (+41.1%). Operating result for the Company maintained at € -0,6 mil.
Loss before tax decreased to € 5.2 mil. for the Group against € 6.1 mil. in the first quarter of 2014 (-15.0%) and to € 4.0 mil. for the Company against € 4.2 mil. (-3.7%).