Petros Petropoulos AEBE Announces Consolidated Earnings Results for the Year Ended Dec. 31, 2016
March 09, 2017
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Petros Petropoulos AEBE announced consolidated earnings results for the year ended Dec. 31, 2016. For the year, total sales were EUR 93,282,000 compared to EUR 80,292,000 a year ago. Operating profit was EUR 4,582,000 compared with EUR 4,346,000 for the same period of 2015. Net profit before income tax was EUR 2,436,000 compared to EUR 1,218,000 a year ago. Net profit after income tax was EUR 1,340,000 compared to EUR 591,000 a year ago. Earnings per share was EUR 0.19 compared to EUR 0.08 a year ago. Group EBITDA increased by 5.8% to EUR 5.6 million compared to EUR 5.3 million in 2015. Profits of the period have been decreased by a loss of EUR 640,000 arising from revaluation of Group's Investments Property and by a loss of EUR 918.000 that concerns impairment of trading receivables of which 266.000 are related to receivables from Marinopoulos Company. Net debt was EUR 9.8 million against EUR 4.1 million in 2015.
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.
PETROS PETROPOULOS AEBE 
