Azkar raises FY 2004 sales growth target to 12-13 pct vs previous 10
Transportes Azkar SA said it has raised its full-year 2004 sales growth target to 12-13 pct from 10 pct previously.
In a presentation to analysts, Azkar also said it has increased its full-year investment target to 25-30 mln eur from 20-25 mln previously.
It reiterated its EBITDA growth target of 12-14 pct, noting that pretax profit growth is expected to decline 2-5 pct, mainly due to the absence of one-time gains compared with 2003.
The company also reiterated its 8 pct growth target for routes.
Looking ahead to 2005, Azkar said it expects full-year pretax profit growth of 12-14 pct, including the impact of 1 mln eur net one-time gains, while sales are seen growing 7.5-9.5 pct.
Late yesterday, Azkar said net profit fell to 10.98 mln eur in the nine months to Sept 30 from 13.17 mln a year earlier, mainly due to lower one-time gains.
Sales rose 14.21 pct to 231.12 mln eur.
Azkar 9 mths net drops to 10.98 mln eur vs 13.17 mln on lower one-time gains
AFX International ProFeed 11-15-2004
MADRID (AFX) – Transportes Azkar SA said net profit fell to 10.98 mln eur in the nine months to Sept 30 from 13.17 mln a year earlier, mainly due to lower one-time gains.
In a statement, Azkar said sales rose 14.21 pct to 231.12 mln eur.
EBITDA climbed 13.16 pct to 31.39 mln eur, while EBIT rose 14.48 pct to 15.02 mln.
Investments totalled 24.83 mln eur in the nine month period, while net debt stood at 58.05 mln, with gearing at 38.63 pct.
