Azkar sees 2003 sales up 9 pct, EBITDA up 10 pct; 22 mln eur investment target
Transportes Azkar SA said it expects sales to rise by 9 pct in 2003
from the 253.66 mln eur reported a year earlier, while EBITDA is seen increasing by 10 pct from 39.64 mln.
In a presentation of the group’s 2002 results, Azkar also said it plans to invest 22 mln eur in 2003, on a par with investments a year earlier.
Earlier, Azkar said net profit dropped 20.5 pct to 16.24 mln eur in the full-year to Dec 31 from a year earlier, reflecting the absence of one-time gains.
Azkar FY net falls to 16.24 mln eur from 20.43 mln on lack of one-time gains
RBC NEWS 02-28-2003
MADRID (AFX) – Transportes Azkar SA said net profit dropped 20.5 pct to
16.24 mln
eur in the full-year to Dec 31 from 20.43 mln a year earlier, reflecting the absence of one-time gains.
In a statement, Azkar said EBITDA increased 2 pct to 39.64 mln eur in the full-year from 38.85 mln a year earlier, as revenues rose 9.3 pct to 253.66 mln eur from 231.98 mln.
The company booked one time losses of 0.59 mln eur, compared to a profit of 2.4 mln, it said, noting that it made an 0.77 mln eur provision against treasury stock.
Pretax profit fell to 18.50 mln eur from 23.48 mln, while profit from the group’s ordinary operations declined 9 pct to 19.10 mln, it said.
Shareholders’ funds totalled 134.74 mln eur on Dec 31, while net debt stood at 42.14 mln eur.
Investments reached 22.05 mln eur in the full-year, down from 32.18 mln a year earlier.
Azkar noted that it currently holds 1.127 mln own shares, or 2.32 pct of the total in issue, as treasury stock.
