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Company News
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Increase Earnings up to 32% and Sales Volume up to 12% for 9 months of 2009.
Despite the revenue contraction due to the deflation in polyethylene polymer prices as well as the currencies devaluation (YTL, EGP and USD to a certain extent) profitability marked a significant increase up to 32% and volume sales up to 12% against the respective period of 2008.
Key financial figures are as follows:
Consolidated Earnings After Tax rose to euro 3,251 million against euro 2,458 million for the relevant period of 2008, posting an increase of 32,3%.
Consolidated Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) amounted to euro 7,826 million or 16% on sales compared to euro 7,320 million for the previous corresponding period of 2008 or 14% on sales , increased by 7%.
Consolidated turnover decreased by 6,4% and rose to euro 48,731 million, vs euro 52,057 million in the respective period of 2008.
Profitability of the parent company despite the turnover decline , marked a significant increase 17% with key financial results as follows:
Earnings After Tax rose to euro 1,114 million against euro 1,003 million for the relevant period of 2008, posting an increase of 11,1%
Earnings Before Interest, Tax, Depreciation and Amortization(EBITDA) amounted to euro 3,188 million or 14,2% on sales , compared to euro 3,333 million for the previous corresponding period of 2008 or 12,3% on sales , decreased by 4,4%.
Turnover decreased by 17,2% and amounted to euro 22,382 million for 2009, as opposed to euro 27,031 million during the previous corresponding period of 2008.
Operating subsidiaries posted considerable financial improvement specifically those affiliates running manufacturing units in Turkey, USA, Egypt and Jordan.
Financial Statements for the third quarter of 2009 were released on Saturday 28 November 2009.
pdf file :
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