GR Sarantis SA Reports Consolidated Earnings Results for the First Half of 2016; Reiterates Earnings Guidance for the Year 2016
July 26, 2016
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GR Sarantis SA reported consolidated earnings results for the first half of 2016. For the period, the company reported turnover of EUR 159.64 million versus EUR 132.42 million in last year's first half, up by 20.56%. EBITDA was up by 57.29% to EUR 14.89 million from EUR 9.46 million in first half of 2015. Earnings before interest and tax (EBIT) reached EUR 12.74 million increased by 68.18% versus EUR 7.58 million a year ago. Earnings before tax (EBT) increased by 52.72% to EUR 10.24 million from EUR 6.70 million a year ago. Net profit was up by 69.60% to EUR 8.49 million from EUR 5.01 million a year ago. Earnings per share was EUR 0.2442 compared to EUR 0.1440 a year ago. As of the end of first half of 2016 the group maintains a net debt position of EUR 7.12 million.
The management reiterates its expectations for sales growth of 11.2% and earnings per share growth of 15% for the fiscal year of 2016.
Sarantis S.A. is one of the world's leading distributors of branded consumer products. Net sales break down by family of products as follows:
- cosmetic products (42.3%): perfumery and toiletry products (Antonio Banderas, BU, C.THRU, Denim, Elode, Myrto, Noxzema, Prosar, STR8, Tesori l'Oriente and Vidal), skin care products (Astrid, Bioten, Elmiplant and Kolastyna), sun screen products (Carroten, Coppertone and Piz Buint) and hair care products (Final Net and Orzene Beer);
- household products (39.8%): food preservation products (Domet, Fino, Fox, Grosik, Hewa, Jan, Korunka Sanitas and Topstar), home maintenance equipment (Afroso, Ava, Flame, Septifos and Tuboflo), insecticides (Globol, Pyrox and Teza), shoe creams (Camel), etc. ;
- other (12.4%): including health care products, dietary supplements, pregnancy tests, etc.
The remaining net sales (5.5%) are from the manufacturing of plastic packaging products (Label Polipak).
At the end of 2020, the group operated a network of nearly 110,000 sales outlets in Europe.
Net sales are distributed geographically as follows: Greece (34.6%), Poland (23.6%), Romania (14%), Ukraine (7.1%), Czech Republic (5.2%), Serbia (5.1%), Bulgaria (3.3%), Hungary (2.6%) and others (4.5%).
SARANTIS S.A. 
