Financial Results for the first quarter 2015
Koropi, 29/05/2015
INFORM P. LYKOS S.A. (Symbol ASE: LYK)
Financial Results for the first quarter 2015
The consolidated financial statements of Inform Lykos are published today May 29th 2015, according to the International Financial Reporting Standards (I.F.R.S.).
During the previous year 2014 and namely at December 31st, 2014, finalized the sale of the whole shares of the company AUSTRIA CARD GmbH (cards division), after the approval of extraordinary General Assembly of shareholders of INFORM P. LYKOS S.A.
Following the above mentioned sale, have taken place effects in the financial components as the cards division in the comparable three months period of 2014 has been readjusted in order to represent the discontinued activity separately from the continued activities.
For the first quarter 2015, the sales (from continued activities) of the Group increased by 7,3% compared to the corresponding quarter 2014, and reached € 15,5 mil. from € 14,5 mil.
The earnings before income tax, interest, depreciation and amortization (EBITDA) amounted to € 0,7 mil. compared to € 0,8 mil. in the corresponding quarter 2014, burdened from increased reorganisation costs in the level of € 0,5 mil.
Especially by excluding the intercompany transactions, the sales of the parent company INFROM P. LYKOS S.A., marginally increased compared to the corresponding quarter 2014 and reached € 8,3 mil. from € 8,2 mil.. Respectively the sales of the subsidiary in Romania (by excluding the intercompany transactions) increased by 16,6% compared to the corresponding quarter 2014 and reached € 7,1 mil. from € 6,1 mil, due to the acquisition of new projects mainly in statement printing and mailing services in the Telecom Sector.
Therefore, the main profitability figures of the Group (from continued activities) are presented as following:
- Earnings before income tax, interest, depreciation and amortization (EBITDA) of the Group decreased by € 0,1 mil. or 18,4% and reached € 0,7 mil. compared to € 0,8 mil. in the corresponding quarter 2014.
- Consolidated earnings before income tax, interest (EBIT), amounted to losses € -0,2 mil, from earnings € 0,2 mil. in the corresponding quarter 2014.
- Earnings before taxes (EBT) of the Group, reached losses € -0,5 mil. from losses € -0,1 mil. in the corresponding quarter 2014.
- Consolidated earnings after taxes (EAT), of the Group reached losses € -0,6 mil. from losses € -0,1 mil. in the corresponding quarter 2014.
The operating cash flow of the Group for the first quarter 2015 are presented negative in € -2,2 mil. compared to negative € -2,3 mil. in the corresponding quarter 2014, mainly due to the increased claims.
About Inform Lykos (www.lykos.gr)
Inform Lykos was founded in 1897, has been listed on the Athens Stock Exchange since 1994 and today is an international Group with a leading presence in the Central and Eastern Europe in the area of Information Management. The Group is active internationally in printing management, production of secured documents and Business Process Outsourcing offering services of printing and posting statements, electronic presentation of statements and printing management for Banks, Telecommunication companies, Public sector and Industrial/Trade companies. The Group currently occupies about 440 employees.