Titan announced net Income at €33.8m (+9.1% vs last year), aided by €17.4m of FX gains (vs €31.1m in 2014), but adversely affected by increased impairment charges (€46m vs €26m in Q4’15).
The following table summarizes results vs consensus estimates:
ΤΙΤΑΝ |
2014 |
2015 |
Y-o-Y |
2015 |
Act. vs |
2014 |
2015 |
Y-o-Y |
2015 |
Act. vs |
EUR m. |
FY |
FY |
(%) |
FY Est. |
Est. |
4Q |
4Q |
(%) |
4Q Est. |
Est. |
Sales |
1,158.4 |
1,397.8 |
20.7% |
1,379.0 |
1.4% |
278.7 |
368.3 |
32.2% |
349.5 |
5.4% |
EBITDA |
181.6 |
216.4 |
19.2% |
214.5 |
0.9% |
34.9 |
51.2 |
46.7% |
49.3 |
4.0% |
EBITDA Mrg |
15.7% |
15.5% |
-19 bps |
15.6% |
-0.4% |
12.5% |
13.9% |
+138 bps |
14.1% |
-1.3% |
Net Income |
30.9 |
33.75 |
9.1% |
45.41 |
-25.7% |
0.4 |
-2.4 |
-647.9% |
9.2 |
-126.3% |
Net Mrg |
2.7% |
2.4% |
-26 bps |
3.3% |
-26.7% |
0.2% |
-0.7% |
-82 bps |
2.6% |
-124.9% |
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Manos Chatzidakis