Thrace Plastics H1:16 – Net earnings at 8.1m up 41%

20.09.2016 12:55

Thrace Plastics (H1:16 Results): The group posted a strong H1 on lower OpEx and favourable prices in raw materials. In specifics: 

  • Consolidated turnover reached €150.6m vs €145.1 (+3.8%) while gross profit came at € 35.4m (+14.9%) and EBITDA at €18.4m.
  • Net debt amounted to € 58.8 million on H1:16 compared to € 42.4 on H1:15 due to the financing of a significant  part of the Group’s investment plan for the period 2015 – 2016, amounting to € 32 million through leasing and bank debt. FCF in H1:16 was negative by 1m.
  • Management guided  for a positive third quarter.

 

The following table summarise results:

 

Thrace Plastics 2015 2016 Y-o-Y
EUR thous. H1 H1 (%)
Sales 145,101 150,638 3.8%
EBITDA 15,746 18,399 16.8%
EBITDA Mrg 10.9%  12.2%  +136 bps 
Net Income 5,743 8,101 41.1%
Net Mrg 4.0%  5.4%  +142 bps 

 

Segmental Performance:

 

Technical Fabrics Packaging Agricultural
(in th. Euros) H1:16 H1:15 y-o-y H1:16 H1:15 y-o-y H1:16 H1:15 y-o-y
Sales 97,763 94,812 3.1% 56,461 54,596 3.4% 624 490 27.3%
Gross Profit 20,853 18,462 13.0% 14,224 11,923 19.3% 122 78 56.4%
Gross margin 21.3% 19.5% -186 bps 25.2% 21.8% -335 bps 19.6% 15.9% -363 bps
EBITDA 10,149 9,488 7.0% 8,185 6,260 30.8% 107 53 101.9%
EBITDA margin 10.4% 10.0% -37 bps 14.5% 11.5% -303 bps 17.1% 10.8% -633 bps

Manos Chatzidakis





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