Sabaf: expected an increase in profitability for the whole year 2015

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Considering the results for the third quarter and for the first nine months of this year, Sabaf forecasts a marginal increase in sales for the whole of 2015 and a more significant increase in profitability compared with 2014. “In 3Q 2015 – explains the company in a official note – the Sabaf Group booked sales revenue of €32.1 million, an increase of 4.5% compared with the figure of €30.7 million registered in 3Q 2014. The performance of European markets was essentially unchanged compared with the same period of 2014; the increase in sales is entirely due to the growth recorded in South America (where all markets with the exception of Brazil improved considerably) and in North America, an area which confirmed the positive trend recorded for several quarters. While average sales prices were down by around 1% and higher costs of raw materials impacted by 0.9% of sales, the Group benefited from a positive effect from exchange rates equal to 1.6% of sales. EBITDA for 3Q 2015 amounted to €6.1 million, with a 19.2%logo sabaf margin on sales, up by 3.6% vs. €5.9 million (19.3% margin on sales) in 3Q 2014. EBIT was € 3.1 million, equivalent to 9.7% of sales, and 5.4% higher than the € 3 million of the same quarter in 2014 (9.7% of sales). The result before tax, which benefited from the recording of positive exchange rate differences of €0.3 million, was 3.3 million, a 16.5% increase compared with €2.8 million in 3Q 2014. The net result for the period was €2.3 million, up 27.8% on the figure of €1.8 million for 3Q 2014”. Also in the first nine months of the year the results were positive: revenue came to €104.6 million, an increase of 2.6% compared to the same period of 2014; EBITDA was €20.5 million (accounting for 19.6% of sales, an improvement of 3.1%), EBIT came in at €11.5 million (accounting for 11% of sales, up by 7.9%) and net profit was €7.7 million (up 23.8% versus the first nine months of 2014).