Petros Petropoulos AEBE : Group Financial Report, A’ Semester 2022
August 10, 2022 at 02:11 am IST
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Athens, August 9, 2022
Group Financial Report, A' Semester 2022
Group revenue was recorded at €70.24m (decrease of 5,5%), compared to €74.36m in the 1st semester of 2021, which had achieved significant increase in comparison to the same period of the previous year.
The decline in sales was mainly due to lower sales of agricultural division, in anticipation of the new National scheme for agricultural development.
In addition, the continuing level of supply chain related disruptions and inefficiencies, affected similarly the sales performance.
The increase in expenses is mainly driven by non-recurring expenses, inflationary pressures on the prices of products and services, as the additional cost of warehousing to mitigate the impact of the supply chain inefficiencies.
Despite of the above-mentioned challenges, gross margin performed at the same level with the last year.
Earnings after income tax and minority rights decreased by 38.1% to €1.69m (€2.73m at 30.6.2021).
Total bank borrowing decreased by 31.8% to €9.00m (€13.20m at 31.12.2021), while net debt was zero (0).
Group Solvency (Equity as a percentage of Total Assets excluding Cash and Cash Equivalents) as at 30 June 2022 was 61.9%.
PETROS PETROPOULOS AEBE
Address
Telephone
Fax
Email
96-104 Iera Odos
+30 210 3499200
+30 210 3473404
contact@petropoulos.com
104 47 Athens
Summary Consolidated Profit & Loss Statement (in € 000).
1 Jan - 30 June.
2022
2021
Total Sales
70,241
74,359
Gross Profit
12,814
13,890
Other Income
1,265
1,055
Administrative, Selling & Marketing Expense
(11.344)
(8,927)
Other Expenses
(233)
(594)
Operating Profit
2,502
5,424
Net Financial Income (Expense)
(180)
(714)
Depreciation included in Operating Cost
570
606
Net Profit before Income Tax
2,322
4,710
Income Taxes
(637)
(1,982)
Net Profit after Income Tax
1,685
2,728
Minority Interests
0
0
Net Profit After Income Tax & Minority Interests
1,685
2,728
Earnings per Share
0.258
0.417
PETROS PETROPOULOS AEBE
Address
Telephone
Fax
Email
96-104 Iera Odos
+30 210 3499200
+30 210 3473404
contact@petropoulos.com
104 47 Athens
Summary Balance Sheet Items before Profit Distribution (in € 000)
30/06/2022
31/12/2021
Assets
Current Assets
Cash & Cash Equivalents
9,036
15,860
Accounts Receivable
22,405
23,027
Inventories
25,050
19,997
Other Receivables
3,441
3,995
Non Current Assets
Intangible Assets
1,303
1,321
Tangible Assets
14,302
14,072
Long term Accounts Receivable
429
486
Other Long Term Assets
434
412
Total
76,400
79,170
Liabilities
Short Term Bank Debt
2,753
3,475
Other Short Term Liabilities
22,942
20,963
Long Term Bank Debt
6,250
9,725
Other Long Term Liabilities
2,723
2,660
Total Liabilities
34,668
36,823
Equity
41,732
42,347
Total
76,400
79,170
Petros Petropoulos AEBE was established in Thessaloniki in 1922. It manufactures, modifies, distributes and supports a wide range of automotive products including automobiles, trucks and buses, generating sets, diesel engines, boats, outboard engines, agricultural, earthmoving and industrial equipment, lubricants, batteries and tires. The Company has a leading position in the Greek market in the sectors which it serves.
For any further information, please contact Mrs. Athina Tsiagka, tel. +30 210 3499211.
PETROS PETROPOULOS AEBE
Address
Telephone
Fax
Email
96-104 Iera Odos
+30 210 3499200
+30 210 3473404
contact@petropoulos.com
104 47 Athens
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Petros Petropoulos SA published this content on 09 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2022 20:34:31 UTC.
Petros Petropoulos SA is a Greece-based company engaged in the manufacture, modification, marketing, distribution, and support of vehicles, automotive machinery, industrial and agricultural equipments, batteries and any similar or related to the above equipment components. It is structured in eight business units: Truck and Bus, Agricultural Equipment, Isuzu, Engines and Boats, Industrial Equipment, Petrogen, PMS and Shell Lubricants. Petros Petropoulos SA represents and distributes the products of such companies as Lombardini, Scania, Kogel, Isuzu, Allison Transmission, Perlini, Perkins, Abbriata, Ingersoll-Rand, McCormick, Exide and Hankook, among others. It also offers technical services for its Petrogen products, through a national network of authorized technicians. It operates through a number subsidiaries, and is present in Cyprus and Bulgaria through, PI Square Holdings Ltd and Petromotor Bulgaria EOOD, respectively. In the end of 2013, it merged by absorption of Petrosys SA.