Sabaf: revenue of 102 million euro in the first nine month of 2014

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logo SabafIn the first nine months of 2014, Sabaf’s revenue came to €102 million, +0.5% on the same period of 2013; EBITDA was €19.9 million (accounting for 19.5% of sales, up 0.6%), EBIT came in at €10.7 million (accounting for 10.5% of sales, up 11.6%) and net profit was €6.3 million (4.8% versus the first nine months of 2013). Considering the results of the third quarter, in that period the Sabaf Group recorded sales revenue of €30.7 million, down 7.2% compared with €33.1 million in the third quarter of 2013. “Sales in the period – a press release published by the company explains – were significantly affected by the sharp downturn in the South American market, where the decline continued in the first part of the year. Similarly, the Italian market showed no signs of recovery; however, a good performance was achieved in Eastern Europe (+20%). North America also registered steady sales growth. Average sales prices were down by around 2% on the same period in 2013. As in previous quarters, this decrease was offset by lower raw materials costs (1% of sales) and increased productivity”. Besides, in the third quarter EBITDA of the Sabaf Group was €5.9 million, equal to 19.3% of sales and down by 7.6% compared with the €6.4 million (19.4% of sales) registered in the third quarter of 2013. EBIT was €3 million, equal to 9.7% of sales and largely unchanged compared with the same period last year (9.2% of sales). Pre-tax profit was €2.8 million, up 6.8% on €2.6 million in the third quarter of 2013, and net profit for the period was €1.8 million, compared with €2 million in the third quarter of 2013 (-11.1%). “In view of the positive sales performance in October and November – the company said – for full-year 2014 the Group has confirmed forecasts of moderate revenue and profit growth compared with 2013”.