Press Release - Comments on Financial Results for first semester 2015
SFAKIANAKISS.A.announced its Interim Financial Statements for the period 01.01-30.06.2015 in accordance with the International Financial Reporting Standards (IFRS).
The 1st semester of 2015 Sfakianakis Group of Companies continues to present amelioration in its financial figures and starring 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 1st semester of 2015 with 43,142 passenger car registrations presented an increase of 15.1% compared to the same period of last year. SUZUKI made 2,388 car registrations acquiring a market share of 5.5%, which ranks the company in the 6th position among car importers. Retail expands its market share to 12.5% (from 12.1% in 2014) with sales of 5,375 passenger cars, 283 light trucks and 752 used cars. Total sales of Sfakianakis (wholesale and retail) represent the 14.2% of the Greek market of new cars.
Car Leasing. Revenue of the Long Term Rental (LTR) sector recover by 14.0% while the fleet under management reaches the 5,692 vehicles (+14%) with utilization rate of 96%. The Rent-A-Car (RAC) sector, exploiting the potential of tourism and the new strong brand ofEnterprise, has increased rents by 8.1% with renting vehicles reaching 3,273 (+12%).
Heavy vehicles, machinery and industrial goods. The sectors in total present an increase in turnover by 8.9%.
Group's turnover amounted to € 115.8 mil., presenting an increase of 6.9% compared to the 1st semester of 2014 while Company's turnover was improved by 16.7% reaching € 102.6 mil.
Gross profit amounted to € 27.0 mil. for the Group and € 10.2 mil. for the Company, presenting an increase of 11.3% and 15.0% respectively.
Group achieves operating profitability with EBITDA at € 6.8 mil. against € 6.3 mil. the relevant period of 2014 (+8.3%). Operating result for the Company amounted to € -0.8 mil. against € -1.1 mil. the relevant period of last year improved by 30.9%.
Loss before tax decreased to € 9.2 mil. for the Group against € 10.4 mil. in the 1st semester of 2014 (-11.6%) and to € 8.1 mil. for the Company against € 8.7 mil. (-6.7%).