ANNOUNCEMENT
Sarantis Group corporate presentation was realized today, March 23rd 2010 at the Association of Greek Institutional Investors where Mr. Konstantinos Rozakeas, Chief Financial Officer of Sarantis Group, presented the Group’s 2009 financial results as well as the management’s strategy and estimates for 2010 financial results.
According to Mr. Rozakeas, Sarantis Group financial results for 2009 were in line with the management’s 2009 turnover target and exceeded its estimates in the profitability level. Sarantis Group financial results were negatively affected by the adverse economic environment across all regions and business units of the Group, although the management’s timely implementation of cost control initiatives and focus on efficient working capital management helped to mitigate the negative impact. The downward trend eased during Q4 2009, predominantly aided by the stabilisation of the EE countries currency devaluation towards the end of 2009 and the termination of the inventory reduction in the retail market. What is more, the own brands increased their participation to total Group turnover. In addition, Mr. Rozakeas made a remark on the Group’s robust financial position, solid cashflow generation and low leverage.
In terms of the Group’s future prospects and developments, Mr. Rozakeas remarked that in the middle of the adverse economic environment, the Group remains focused on its strategic pillars of growth that consist of organic growth of the core business activities and emphasis on Sarantis own brands portfolio, increase of the existing market shares of own brands in the EE region, continuous examination of the situation in the economies of the Group’s foreign countries and modification of the business where deemed necessary according to the new market conditions and finally emphasis on the examination of possible acquisition targets in the old countries of operation, as long as market share, profitability and cost structure allow for synergies.
The Management’s guidance with regards to the Group’s financial performance in 2010 is shown in the following table:
2007 Financial Results as shown in this table do not include the capital gains from the sale
of the company’s participation in K.P. MARINOPOULOS S.A.
Specifically, according to the Management’s estimates, turnover will reach EUR 230 mil. by the end of 2010, versus EUR 220,65mil. in the end of 2009.
EBITDA is expected to increase to 28,75 mil. from EUR 27,08 million in 2009. EBIT is estimated to reach EUR 25,05 mil. in 2010 from EUR 23,44 mil. in 2009, while 2010 EBT is expected to reach EUR 22 mil.
Finally, EAT and EATAM are expected to settle at EUR 17,82 mil. in 2010.
The Group’s presentation to the AGII has been posted in the Company’s website http://ir.sarantis.gr as well as to the Athens Exchange’s website.
PRESENTATION OF SARANTIS GROUP AT THE ASSOCIATION OF GREEK INSTITUTIONAL INVESTORS (AGII)
(194.6KB)
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
Connect with us
We're always looking to connect with those who share an interest.
Stay Tuned
Sign up to receive our latest news update!
Sarantis Group © 2024. All rights reserved.
Terms Of Use
| Privacy Policy
| Cookies Policy
Website Design & Development by
