GR. SARANTIS S.A.
Consolidated Financial Results Full Year of 2017
DELIVERING + 17% NET INCOME GROWTH EXCEEDING MANAGEMENT’S GUIDANCE
SIGNIFICANT INCREASE IN THE GROUP’S NET CASH POSITION
2017 has been another very successful year for the Group, exhibiting great performance across all business units and geographies.
Having established a more agile, product-centric, consumer-oriented business model, the Group is able to advance further its focus behind quality, speed, cost and commercial excellence in all its distribution channels.
At the same time, the ever-growing product portfolio, further enlarged by acquisitions of well-recognized brands together with the appropriate communication strategy, provide the Group with the competitive characteristics necessary to be ahead of a very challenging consumer environment.
Consolidated FY 2017 turnover amounted to € 343.16 million versus € 329.02 million last year, up by 4.30%.
Greece, exhibited growth of 2.02%, outperforming the market and settled at € 122.18 million, which corresponds to 35.61% of the total Group’s turnover.
The foreign countries, which represent 64.39% of the Group’s total turnover, increased by 5.60% to €220.97 million from € 209.26 million last year.
The Group’s commitment behind continued productivity improvement and cost savings, combined with the sales growth, resulted in significant double-digit earnings per share growth and improvement in all profitability margins versus the same period last year.
More specifically:
- EBITDA was up by 10.42% to € 39.66 mil. from €35.92 mil. in FY 2016, with an EBITDA margin of 11.56% from 10.92% in FY 2016.
- Earnings Before Interest and Tax (EBIT) reached € 34.51 mil. increased by 9.47% versus €31.52 mil. and EBIT margin rose to 10.06% from 9.58% in FY 2016.
- Earnings Before Tax (EBT) increased by 20.22% to €34.67 mil. from €28.84 mil. with the EBT margin reaching 10.10% from 8.76% last year.
- Net Profit was up by 16.78% to €28.63 mil. from €24.52 mil. in the previous year, while Net Profit margin settled at 8.34% from 7.45% in FY 2016.
On the balance sheet front, exhibiting its healthy financial position, Sarantis Group is able to invest behind initiatives to accelerate growth and return value to its shareholders.
Within 2017, the Group paid a dividend for FY 2016 of approximately €6 mil. (0.175 euros per share).
As of the end of 2017 the Group maintains a net cash position of €16.20 mil. from €7.05 mil. in FY 2016.
Working capital requirements over sales continue to improve, settling at 26.30% in FY 2017 vs 26.97% in FY 2016, reflecting the management’s focus behind a tight credit policy as well as effective inventory management.
The Group’s FY 2017 financial results were marked again by significant progress backed by the Group’s deep product and market know-how as well as new product development initiatives that are supported by an efficiently executed and well balanced communication plan. At the same time the balanced allocation of resources and management of expenses together with cost saving initiatives support the Group’s profitability and provide the fuel for further investments behind growth.
The Group’s strategic priorities for 2018 are focused on new product development, geographical expansion, increasing scale, improving costs, identifying brand acquisitions that can provide additional value and re-investing behind high-return areas of the business.
This is expected to lead to further strengthening of the Group’s position in the region as a leading consumer products regional multinational company.
Despite the adverse economic conditions throughout the last years, the Group managed to build a great momentum, which will now serve as a sound basis for the future.
In each of its markets the Group is well positioned to further benefit from the strong new product pipeline and leverage its capabilities behind the commercial strategy, production efficiency and operational effectiveness, ultimately delivering further volume-growth, increased profitability margins and additional free cashflow.
Consistent with its yearly schedule, Sarantis Group management will publish its FY 2018 guidance on Thursday, April 19th 2018 during the Group’s annual presentation at the Hellenic Fund and Asset Management Association.
Moreover, the Board of Directors of the Company will propose during the Annual Shareholders Meeting a dividend of 0.28 euro per share.
Information
Eleni Pappa
Investor Relations Manager
Email: epappa@sarantisgroup.com
Sarantis Group
SARANTIS GROUP headquarters is based in Athens, Greece. Boasting a history of over 50 years our Group is one of the leading consumer product companies offering well recognized brand names in the categories of Fragrances & Cosmetics, Personal Care, Household Products and Health & Care Products.
We operate subsidiaries in nine European countries, namely Poland, Romania, Bulgaria, Serbia, Czech Republic, Slovakia, Hungary, F.Y.R.O.M., Bosnia and Portugal, and maintain a powerful distribution network in more than 35 countries, via direct exports, supplying the regions of Eastern and Central Europe, the Balkans, Middle East and North Africa.
The parent company GR. SARANTIS S.A. has been listed in the Athens Stock Exchange since 1994. Additionally, the company has established a joint venture with ESTEE LAUDER HELLAS for the exclusive distribution of ESTEE LAUDER products in Greece, Romania and Bulgaria.
Sarantis Group aims at being a leader in the manufacturing and distributing of consumer products.
Our ambition is to present high-value, high quality everyday products and continue to grow in a socially responsible manner offering added value to our consumers, customers, suppliers, shareholders and employees.
For more information please visit our corporate website at: www.sarantisgroup.com
Consolidated Financial Results Full Year of 2017
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Financial Results Analysis
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Contact
SARANTIS Group
26, Amaroussiou - Halandriou Street
151 25 Maroussi, Athens, Greece
Tel: +30 210 6173000
Fax: +30 210 6197081
e-mail: group-info@sarantisgroup.com
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