Financial Statements for the first quarter 2014

Press Release - Financial Statements for the first quarter 2014


The Financial Report for the first half of 2014 (01.01.2014-30.06.2014) approved by the Board PPA SA during its meeting.
According to the data of the interim report (first half 2014), drawn up in accordance with international financial reporting standards:
a. Comprehensive income showed a slight decrease of 3.3% (from € 51.9 million in 2013 to € 50.2 million in 2014).
b. Total operating expenses for the period decreased by 4.75% (from € 51.2 million in 2013 to 48.7 million in 2014).
c. EBT remained at the same level as in 2013, as profit after tax (from € 3.4 m. in 2013 to € 3.3 million in 2014).
d. Cash and cash equivalent has grown significantly since from € 21,378,770 in 30.06.2013, amounted to € 44,498,980 million, i.e. more than doubled.
e. Total equity increased from € 161,960,201 to € 166,314,971.
f. Based on the reform of the Budget Statement 2014, which was also approved by the Board, the total profit before tax is expected to be (profit)       € 12,019 million.compared to € 11,825 million in 2013.
As the Chairman and CEO of the Company Mr.  Yiorgos Anomeritis stated: "PPA within a negative climate, both in geopolitical surroundings, which directly affects areas of its activities (cruise, cars) and in the Athens Stock Exchange retains its profitability during the first half of 2014 and indeed at the same level as in 2013”.