Sligro Food Group Reports Consolidated Earnings Results for the Year Ended December 31, 2013; Declare Full year Dividend
January 26, 2014 at 09:10 am
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Sligro Food Group reported consolidated earnings results for the year ended December 31, 2013. For the period, the company reported revenue of EUR 2,498,431,000 against EUR 2,467,382,000 a year ago. Operating profit was EUR 88,477,000 against EUR 88,492,000 a year ago. Profit before tax was EUR 87,000,000 against EUR 88,649,000 a year ago. Profit attributable to shareholders of the company was EUR 67,979,000 or EUR 1.55 per diluted share against EUR 68,576,000 or EUR 1.56 per diluted share a year ago. Net cash flow from operating activities was EUR 132,634,000 against EUR 129,016,000 a year ago. Capital expenditure on property, plant and equipment/investment property/assets held for sale was EUR 35,209,000 against EUR 36,494,000 a year ago. Capital expenditure on intangible assets was EUR 3,878,000 against EUR 4,639,000 a year ago. Net capital expenditure was EUR 36,000 against EUR 33,000 a year ago. Net interest-bearing debt was EUR 28 million. Operating profit before amortisation (EBITA) was EUR 101 million against EUR 99 million for the same period a year ago. Operating profit (EBIT) was EUR 89 million against EUR 89 million for the same period a year ago. Gross operating profit (EBITDA) was EUR 142 million against EUR 142 million for the same period a year ago.
For the year, the company declared dividend of EUR 1.05 per share consisting of a regular dividend of 0.80 (2012: 0.80) and a variable dividend of 0.25 (2012: 0.25).
Sligro Food Group N.V. specializes in food distribution. Net sales break down by activity as follows:
- delivery of food products (64.3%): to restaurants, caterers, companies, stores, hospitals, retirement homes, schools, etc.;
- wholesale distribution (35.7%): activity ensured through 63 cash & carry stores located in the Netherlands (51) and Belgium (12). In addition, the group is developing a non-food products distribution business for catering professionals (kitchen equipment and utensils, culinary accessories, household products, cookbooks, etc.).
Net sales are distributed geographically as follows: the Netherlands (85%) and Belgium (15%).