press release
PRESS RELEASE
FINANCIAL RESULTS FOR THE PERIOD
01/01/2012 – 30/09/2012
The consolidated turnover of “VIOHALCO”, for the period 01/01/2012 – 30/09/2012, amounted to € 2.565 mil., decreasing by 3,2% compared with the corresponding period of the previous year 2011.
The consolidated profits before taxes, financing, investing results and depreciation (“EBITDA”) amounted to € 124,8 mil., compared with € 142,1 for the corresponding period of 2011, decreasing by 12,19% and the consolidated results before taxes and minority rights amounted to € 53,3 mil. losses, compared with € 25,3 mil. loss for the corresponding period of 2011.
Finally the consolidated net results after taxes and minority rights amounted to € 39,1 mil. losses,(or € -0,1959 loss per share), compared with € 25,1 mil. loss,(or € -0,1258 per share), for the nine months of 2011.
The financial results were negatively affected, first of all, by the continued severe crisis of the Greek Economy, especially in the construction branch, as well as the economies' recession inEurope.
In addition, the increased financial cost, as well as the costs of transport and energy, which is also excessively charged by the consumption taxes, further squeezed the profit margins.
The results before taxes of VIOHALCO, S.A. for the nine months of 2012 amounted to € 2,6 mil. profit, compared with € 0,6 mil. loss for the corresponding period of 2011 and the net results after taxes amounted to € 2,6 mil. profit (or € 0,0129 profit per share) compared with € 0,7 mil. loss for 2011(or € -0,0035 per share).
In this negative financial environment, becoming more competitive, the more effective management of the working capital, becoming more active in new developing markets, not affected by the business depression, as well as the development of the manufacture of new products, continue to be the main goals of the subsidiaries.
Publication on Thursday November 29, 2012, after the end of the session of the Athens Exchange.
The Financial data and information for the period 01/01 – 30/09/2012 are published in folio, dated November 31, 2012, of the paper ESTIA, and together with the Interim Financial Statements for the same period, appear in the Company's web site, at the address: www.viohalco.gr, as well as the web site of the Athens Exchange: www.athex.gr.
29/11/2012