Denim fabrics supplier Hellenic Fabrics Hellenic Fabrics S.A. showed an improvement in efficiency and its main financial figures in the first nine months of 2005 in comparison with the same period last year.
Specifically, improved profitability is presented on a consolidated basis as EBITDA margin reached 19.68 percent compared to 13.58 percent in last year's period.
In this period, profit before tax, interest and depreciation (EBITDA) amounted to € 12.54, improved by 27.60 percent and consolidated profit before tax amounted to € 6.48 mln, improved by 63.27 percent.
Profit after tax (PAT) amounted to € 4.18 mln, improved by 70.08 percent, with net profit margin reaching 6.02 percent compared to 3.56 percent in the nine-month period of 2004.
The strategy of the company for 2005 has focused around maintaining the selling price of denim fabric, besides the fall in raw material price and as a result, consolidated turnover amounted to € 63.68 mln, decreased by 11.95 percent.
The group's liquidity continued to strengthen during the nine-month period, as the positive cash flow from its operating activities of € 24.62 mln, was used to finance investments of € 6.68 mln and to reduce its loans from € 58.25 mln in 31/12/2004 to € 38.57 mln.
Until the end of the year, investments on machinery will reach € 11.00 mln, thus completing the 2000- 2005 investment program of € 75.20 mln.
Strong cash flow resulted to improved "Debt-equity" ratio, which amounted to 1.43 while in 31/12/2004 it was 0.96.
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