ELTON SA Reports Consolidated and Parent Earnings Results for the Year Ended December 31, 2015
April 08, 2016 at 07:54 am EDT
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ELTON SA reported consolidated and parent earnings results for the year ended December 31, 2015. For the year, consolidated turnover amounted to 104.8 million from 98.78 million in the respective period of 2014, having an increase of 6.11%. Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) of 2015 period reached 5.72 million decreased by 580,000 from million 6.30 million a year earlier. Earnings before interest, taxes and amortization (EBIT) of group amounted to 4.86 million decreased by 660,000 from the 5.52 million a year ago. Net earnings before taxes of the group at the fiscal year of 2015 amounted to 3.62 million decreased by 1.02 million from 4.64 million in 2014, absorbing once again part of the parent's reduction. Consolidated profit after tax for the period amounted to 2.70 million decreased by 790,000 of the 3.49 million in the corresponding period 2014. The group's net debt on December 31, 2015 amounted to 15.762 million from 14.782 million at the end of the previous year December 31, 2014, increased by 0.98 million (6.63%).
The turnover of the parent company amounted to 71.55 million from 69.23 million in the corresponding period last year, having an increase of 3.35%. The company is absorbing in a significant extent the reduction in 860,000 in earnings before interest, taxes, depreciation and amortization (EBITDA) of the parent company amounted to 3.61 million from 4.47 million in 2014 corresponding period. EBIT for parent was decreased by 920,000 which amounted to 2.97 million from 3.89 million a year ago. Net earnings before taxes of the parent of the fiscal year 2015 amounted to 2.15 million from 3.33 million in 2014, decreased at 1,180 million. Profit after tax for the period absorbed part of the reduction of 950,000 of the parent that amounted during period to 1.50 million from 2.45 million in the respective period of 2014 and improving the corresponding ratio of earnings before taxes as described above. The changes in the amounts of EBITDA, EBIT, earnings before tax and profit after tax have integrated and reflect on the year ended 2015 factors which affected once, as depreciation of new fixed assets by 125,000 and increased payroll cost due to new staff and associates to implement the strategic plan of the group and the company for expansion into new markets and industries, whose returns are expected in the coming years. Net debt of the company on December 31, 2015 amounted to 13.245 million from 13.333 million on December 31, 2014 decreased by 88,000 (0.66%).
Elton SA is a Greece-based commercial enterprise active in the trade of chemical products and other raw materials for the industrial sector. The Company's range of activities includes the import, export, representation and wholesale trade of chemical and other specialized products. Its products are mainly used as raw materials for such sectors as pharmaceuticals, cosmetics, the food industry, wines and beverages, cleaning products, paint, ink, wax, construction materials, agrochemicals, water treatment, metal treatment, paper treatment and textiles. The Company exports its products to the Balkan countries, Cyprus and the Middle East and has distribution centers in Athens, Thessaloniki, Bucharest, Cluj, Sofia and Belgrade. It has established subsidiaries in Greece, Romania, Bulgaria, Serbia and Ukraine.