FULL YEAR 2012 HIGHLIGHTS
- Sales increased 3% compared to 2011
- EBITDA up by 4.5% compared to 2011
- Growth of operating profitability on a comparable basis
- Net profit of €12.3 million reduced versus €20.6 million in 2011 due to higher financial expenses and special tax items
|€ 000s||Full Year|
|% change||Q4 2012||Q4 2011||% change|
|Profit before tax||24,308||31,960||-23.9%||-1,818||3,935||-146.2%|
|Net profit (1)||12,291||20,617||-40.4%||-3,674||2,444||-250.3%|
|Profit before tax||28,376||30,060||-5.6%||350||2,035||-82.8%|
|Net profit (1)||15,660||19,097||-18.0%||-1,825||924||-297.5%|
2 Based on net profit attributable to shareholders and the basic weighted average numbers of shares
Note in relation to comparable indicators: See explanations related to the NYCO acquisition and the depreciation as a result of the annulled agreement of the bauxite divestment in section Other Items on page 5.
Kriton Anavlavis, CEO of S&B, commented:
“2012 was a year of strategic and operational progress for S&B within a highly challenging economic climate. Our truly global footprint and the strong customer relationships that we’ve built over many years, allowed us to deliver sales increases both on a reported and an organic basis. In addition, comparable operating profitability was relatively resilient despite weakening macroeconomic conditions during the second half of the year. While we successfully refinanced all our debt obligations extending their debt maturity profile and better aligning the origin of financing facilities with our international profile, the higher interest costs had an adverse impact on net profit.
We continue to make strategic progress, and as with the NYCO acquisition, we aim to enhance the value of our business, entering geographies and market segments where we did not previously have an established presence, continuing to build market to mine chains as future platforms for growth.”