F.G. Europe S.A. : 3rd Quarter Financial Results Press Release

November 08, 2012 at 07:09 pm IST

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Press Release November 7th 2012 3rd Quarter Financial Results of F.G. EUROPE S.A. Group

• Increase in Sales

• Significant Increase in Net Profit after Taxation

• Increase in revenues from Energy Sector

Maintaining high level of exports (€ 50.34 m.), in connection with the ongoing growth of sales in the domestic market in the 3rd quarter 2012, FG Europe S.A. presents an increase in its total sales accounting for € 78.52 m., against € 78.29 m in the 3rd quarter 2011.
Although Company's Total Sales were increased during the first 9 months 2012, its total liabilities were decreased by 11.30%, limited to € 63.33 m. against € 71.40 m. as at 31/12/2011.

The 6.14% decrease in FG Europe S.A. 's General Expenses, along with the 22.84% decrease in the Company's financial expenses resulted an increase of 7.68% in Company's Net Profit after taxation, which amounts to € 4.39 m. in the 3rd Quarter 2012 against € 4.08 m. in the corresponding period 2011. Revenues received from the energy sector over the nine month period 2012 were significantly increased by 131.82%, accounting for € 8.96 m. (€ 3.87 m. in 09/2011). Said increase in revenues from the energy sector, along with the 6.46% decrease in Group's general expenses have as a result an increase of 20.65% in Group's Net Profit after taxation, which amounts to € 5.97 m. against € 4.95 m. in the 3rd quarter 2011.

(Amounts in 000. €)

Revenues from Sales minus: Cost of Goods Sold Gross Profit

Gross Profit Margin General Expenses Operating Profit EBITDA

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Company Profile

FG Europe SA is a Greece-based commercial enterprise. The Company is engaged in the import and wholesale of three ranges of products: Long Living Consumer Goods, including air-conditioners for domestic and professional use, white appliances, such as refrigerators and freezers, brown goods, such as audio and video products, as well as small domestic appliances, such as vacuum cleaners and microwave ovens; Central Climatization Products, including VRF Fujitsu General Ltd and Clivet products, and Mobile Telephony Services, providing corporate and private connections of mobile telephony and fixed telephony, Internet connections, as well as mobile telephony accessories and mobile scratch cards. On October 11, 2013, it completed the merger through absorption of its 100% subsidiaries, Fidakis Service SA and Fidakis Logistics SA, that offer repairing and logistics services respectively. It is also active in the energy production from renewable sources through its subsidiary, RF Energy SA.

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