KORRES NATURAL PRODUCTS SA KORRES / 9M 2015 FINANCIAL RESULTS
+12% GROWTH IN CONSOLIDATED SALES
+33% GROWTH IN EXPORTS SALES
FURTHER GROWTH IN OPERATING PROFITABILITY
High growth rates for KORRES Group continued in Q3 2015, contributing to the overall positive 9M 2015 performance. Sales recorded double digit growth, operating profitability further improved and substantial net profits were achieved.
Group's sales increased by 12%, at 43,9m.Euro from 39.4 m. Euro in the corresponding period of 2014, as a result of the very positive performance in the key Strategic markets of the Group.
In Greece despite the difficult economic environment, Korres brand scored as No11brand in the pharmacy personal care category and recorded the highest growth rate2. This was the result of launching innovative natural products, as well as of the Group effective brand communication and promotional plan in all the strategic product categories.
In the international markets, Group's sales increased by 33%, due to the dynamic brand development in the US market as well as in key priority markets in Europe.
Earnings before interest, tax, depreciation and amortization (EBITDA), reached 8,2m Euro in 9m 2015 from 5,3m Euro in 9M 2014. Adjusted EBITDA in 9M 2014 were 7,6m Euro (excluding extraordinary restructuring cost impact).
Net earnings after tax and minority results reached 1,7m Euro in 9M 2015 from -0,1m. Euro in the corresponding period of 2014, as a result of the very positive overall Group (Sales and Operating profitability) performance.
In Greece, Korres Group will continue to support intensively its brand in the major pharmacy channel with primary research and new innovative products, special natural ingredients and advanced technology as well as with creative targeted promo actions in favor of the end customer.
International Sales and export activity as a percentage of total Group Consolidated sales further increased reaching 46% of consolidated sales. US was the key performer, with its major distribution channels -the TV channel HSN and Sephora stores- recording high double digit growth. In Europe, the faster growing markets for the Group were UK and Norway, mainly coming from the existing point of sales organic growth and the opening of new as well as the new products launch in strategic categories such as face and body.
Finally Korres Products, within the framework of the strategic agreement with AVON, were launched in Brazil in the second quarter of 2015 -a new dynamic market-, with very positive results.
Data IMS, MNF, Sales of pharmacies in value,9Μ 2015 Personal Care Total PEC (Personal Care) Market
Date MS, MNF, Sales of pharmacies in value 9Μ 2015, Personal Care Total PEC (Personal Care) Market
For more information:
INVESTOR RELATIONS / Athina Lagou/ Τ: (+30) 213 018 8905,E:athina.lagou@korres.com PUBLIC RELATIONS / George Anthoulakis /T (+30) 2130 188835 /Egeorge.anthoulakis@korres.com|
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