• Decrease in Group's total liabilities due to decline in Group's bank debt
• Considerable decrease in Group's financial results (expenses)
• Decrease in Company's general expenses
• Conservation of high level of expor!ts for the Parent Company
As at 30/09/2013, the preservation of Company's exports at a satisfying level (€ 49.77 m against 50.34
m at 30/09/2012), limited the downward movement of Company's sales to the point of 8.87% (€ 71.55 m! from € 78.52 m at 30/09/2012), effected by the 36.81% decline in Company's domestic sales.
Said decrease in domestic sales, mainly due to unfavorable weather condition occurred in Greece during summer, along with the preservation of high level of export, made Company's exports to represent the 73% of air conditioners sales and the 70% of its total sales. Said participation of exports in Company's mix of sales reintegrates FG EUROPE S.A. in the Index "FTSE/ASE International
A!ctivity Plus", weighted at 28%.
The abovementioned decline in Company's sales was partially offset by the 9.57% decrease in general
expenses (€ 11.52 m against € 12.74 m in the 3rd quarter 2012), implementing a slight decline of
EBITDA (€ 6.49 m against € 6.98 m in the 3rd quarter 2012) and a slight enhancement of index
E!BITDA/Sales at the point of 9.07% (8.89% as at 30/09/2012).
Company's financial expenses were further decreased by 31.61%, preserving a satisfying level of EBT
and net income, amounted to € 4.39 m (against € 5.50 m at 30/09/2012) and € 3.32 m (against € 4.39 m at 30/09/2012) respectively.