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Date 30/11/2015

Heracles GCC Group announces nine months 2015 results

The Group’s turnover amounted to 179.708 thousand for the nine-month period ended 30 September 2015, increased by 1,4% compared to the corresponding period of the prior year. The Company’s turnover amounted to 160.232 thousand, for the same period in 2015, increased by 2% compared to the corresponding period of the prior year.

 

thousand €

Nine months  2015

Nine months 2014

%

Heracles Group Turnover

179.708

177.256

+ 1,4%

 Heracles Group EBITDA

10.371

9.281

 

Heracles Group Net Losses after Tax

(9.512)

(15.116)

 

 

 

 

 

 

The Group recognized a net loss after taxes of amount €9.512 thousand for the nine-month period of 2015, while in the same period of 2014 it recognized a net loss after taxes of amount €15.116 thousand. The Company’s net losses after taxes for the nine-month period of 2015 amounted to €31.974 thousand while in the corresponding period in 2014 the net losses after taxes amounted to €5.401 thousand.

The net results after taxes of the Company were significantly affected by the impairment loss of the Company’s investment in the consolidated subsidiary LAFARGE BETON S.A., of amount €31.486 thousand.

The increase of the turnover in the nine month period of 2015, compared to the corresponding period of 2014, is attributed to the increase of export sales which offset the decline on the domestic market. Recent general elections, as well as capital controls affected economic activity and Group’s results, especially during the 3rd quarter of the year.

The Group and the Company continue their efforts to reduce operating costs, as well as optimize the production and supply chain processes supporting the improvement of the gross and net profit.

 

 

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