investor relations announcements & press releases 2017

Full Year Results of 2016 Press Release
31 March 2017

PRESS RELEASE OF THE FINANCIAL RESULTS OF THE YEAR 2016

PLAISIO COMPUTERS S.A.

Increase in the consolidated Turnover by 4% and increase in market shares, despite the uncertainty in the macroeconomic environment. Stability in gross profit, decrease in EBITDA due to the decrease in Other Income and wide net liquidity.

- Sales amounting to € 283 m. from 272 m. . in 2015, improved by 4%, due to the performance of the second semester (sales increase of 8,7%)

- Marginal decrease in gross profit to 60,5 m. from 61,2 m. or decreased by 1,2%, due to a slightly higher increase in cost of sales.

- EBITDA decreased to € 10,1 m. from € 12,4 m. mainly, because of the decrease in Other Income.

- Decrease in earnings before taxes (EBT) and earnings after taxes (EAT) to € 6,6 m. to € 4,5 m..

- Cash and cash equivalents of more than € 42,8 m. – constituting more than half of the current capitalization of the Group. Wide net liquidity of more than € 27 εκ.

- Further strengthening in the Group’s net equity to € 86,4 m. an amount higher than its current market value.

- Proposed dividend of € 0,05 per share.

 

Athens, March 31st 2017 : “Plaisio Computers” releases today the financial results for the period 01.01.2016-31.12.2016, according to the IFRS. The basic financial figures for the Group are the following:

 

01.01-31.12.2016

01.01-31.12.2015

+/-

Consolidated figures (in th. € )

Turnover

282.990

271.985

(4,0%)

Gross Profit

60.471

61.192

(1,2%)

EBITDA

10.123

12.389

(18,3%)

EBITDA Margin (%)*

3,58%

4,56%

(0,98)

EBT

6.551

9.345

(29,9%)

EAT

4.476

6.736

(33,6%)

Earnings per share (€)

0,2027

0,3051

 

Cash and cash equivalents

42.792

41.794

(2,4%)

Total Debt

15.461

10.645

45,2%

Net Debt*

(27.331)

(31.149)

(12,3%)

Trade Payables and Other Current Liabilities

35.745

35.918

(0,5%)

*: Constitute an APM. For the definition and the mission of APM, please, check the Annual Financial Report – Unit G in the Report of the BoD

 Commenting on the results of the financial year, the President of the Board of Directors and CEO of the Company Mr. George Gerardos mentioned the following: “During 2016, after a very satisfying second semester during which the turnover increased to a high one-digit percentage, we achieved the increase of Group sales by 4%. This development demonstrates that Plaisio, operating in a volatile macroeconomic environment, with constant changes in consumer behaviour, faces the competition efficiently, increasing its market shares. Gross profit is resilient on a nominal level, marginally decreasing compared to 2015. The second positive effect in the P&L was the small but substantial decrease of administration and distribution expenses, at a nominal value, and as a percentage of sales. We are very pleased that in an environment of credit shrinkage and working capital deficiency, we consistently achieve excellent capital structure and broad liquidity. Given that, we will propose a dividend of 0,05 Euro for the shareholders, which is a dividend yield of about 1,5% to the current share price.

The Group will continue to systematically adjust its commercial policy offering the best yield to the shareholders and satisfaction to customers. Finally, to invest in infrastructure in new technologies and in human capital, so as to ensure and increase Plaisio’s competitive advantage.”

 

The Vice President and CEO of the Company Mr. Konstantinos Gerardos added:

“In 2016 Plaisio increased its market share in every basic category (laptops and televisions), in the referred as “portable technologies” (tablets and smartphones) and in the most digital categories (gaming and digital cameras). The highlights of the year are the following:

• Opening of the 23rd superstore of the Group in Dafni, in April 2016
• Development of a new toy category, which has as a base the creation through technology (STEM)
• Increase in sales of school products for 4th consecutive year
• Introduction of new Brands for the enrichment of variety of products and offering a wide range of choices in technology products
• Preparation of the new communication strategy of Plaisio which was implemented in the beginning of 2017 with the corporate campaign, with the basic idea to be “your mind goes to Plaisio”
• Investment in technological platforms for the upgrade of our e-store and performing personalized digital marketing.”

 
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