Sarantis Group reports higher H1 results

Sarantis Group said its consolidated sales grew 5.28 pct in the first half of 2017 to 168.07 million euros, from 159.64 million in the same period last year.

Sales in Greece grew 4.6 pct to 65.46 million euros, while international sales (accounting for 61.05 pct of Group sales) totaled 102.6 million euros in the January-June period, up 5.72 pct from last year.

EBITDA rose 7.15 pct to 15.95 million euros, while EBITDA margin rose to 9.49 pct from 9.32 pct. Pre-tax and interest earnings rose 6.5 pct to 13.57 million euros, pre-tax earnings jumped 50.13 pct to 15.37 pct and net earnings soared 57.43 pct to 13.37 million euros. Net profit margin jumped to 7.95 pct from 5.32 pct in the first half of 2016.

Sarantis Group said its net borrowing was 70,000 euros in the last half of 2017. The group expects sales to grow by 7.0 pct this year to 353 million euros, EBITDA to rise by 10 pct to 39.59 pct and net earnings to rise by 13 pct to 27.71 million euros.