InterEuropa d.d. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 2014; Provides Consolidated Earnings Guidance for 2014
May 16, 2014 at 03:25 pm IST
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INTEREUROPA, d.d. reported unaudited consolidated earnings results for the first quarter ended March 2014. For the period, the company reported net loss of EUR 97,000 ($132,490) from a net profit of EUR 960,000 a year earlier. Earnings before interest, taxes, depreciation and amortization (EBITDA) was EUR 2.9 million through March, while sales decreased by 13% to EUR 34.6 million. Largely, that decrease was attributable to a 60% drop in the sale of customs services in Slovenia and Croatia after the accession of the latter to the European Union and due to current situation in Ukraine.
Total investments at the group level amounted EUR 188,000. Operating profit was EUR 1.2 million. At the end of March, the group recorded a net financial debt at EUR 89.9 million, which was 2% lower than at the year-end 2013. The financing loss at EUR 1.3 million was slightly lower than planned on account of negative foreign exchange differences at EUR 471,000, which mostly resulted from the value decrease of the Ukrainian currency. For that reason, the net profit for the reporting period was negative.
The company provided consolidated earnings guidance for the full year of 2014. The group plans EUR 2.9 million in investments for the entire 2014. The key goal of the Intereuropa Group for 2014 is to maintain the income on the level of the year 2013, improve the profitability of earnings as well as comply with all the liabilities to the banks.
Intereuropa dd is a Slovenia-based company engaged in the provision of logistic services. The Company provides its services in three divisions: Land Transport, covering groupage, express transport, road transport, railway transport, customs services and distribution of spare parts; Intercontinental transport, including air transport, sea freight, shipping agency and automobile logistics; and Logistics solutions division, involved in the storage, distribution and logistics projects. As of December 31, 2011, the Company operated through 16 subsidiaries and one joint venture in such countries as Slovenia, Croatia, Bosnia and Herzegovina, Macedonia, Serbia, Kosovo, the Russian Federation, Ukraine, Montenegro, Albania, Germany and France.
InterEuropa d.d. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 2014; Provides Consolidated Earnings Guidance for 2014