SATO reports higher sales, lower losses in 2016

SATO on Friday said its turnover totaled 10.818 million euros in 2016, up 46.94 pct from the previous year.

Gross earnings amounted to 3.811 million euros, from 2.133 million in 2015, with gross profit margin at 35.22 pct from 28.98 pct, respectively, while the company reported after tax losses of 1.859 million euros in 2016, from a loss of 6.437 million in 2015.

EBITDA was 699,000 euros in 2016, from a negative 3.791 million euros in the previous year.
The company said its ENTOS brand recorded a 43.54 pct increase in sales, with sales to corporate customers rising 54.58 pct in the year.

SATO shares remain in the “under surveillance” category as the company implements a restructuring program, envisaging a rationalization of operating costs, while at the same time plans to expand activities in the domestic and external markets by investing on new categories of products.