SAG GEST - Soluções Automóvel Globais, SGPS, SA Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014
August 28, 2014
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SAG GEST - Soluções Automóvel Globais, SGPS, SA announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the six months, the company reported sales of 232.038 million against 184.816 million a year ago. EBITDA was 7.655 million against 4.973 million a year ago. LBT was 4.335 million against 5.133 million a year ago. Consolidated net loss attributable to company was 6.240 million against 6.208 million a year ago. Consolidated turnover was 236.7 million compared to 190.559 million a year ago as a result of increased profitability in all business units. Consolidated EBIT was 6.3 million, a 2.5 million (66.1%) increase when compared with the same period in 2013. Consolidated net debt as at 30 June 2014 was 274.6 million, a 10.4 million increase in comparison to 31 December 2013.
For the quarter, the company reported sales of 129.374 million against 100.135 million a year ago. EBITDA was 5.002 million against 2.794 million a year ago. LBT was 1.368 million against 1.797 million a year ago. Consolidated net loss was 2.786 million against 2.520 million a year ago. Consolidated turnover was 131.665 million compared to 102.993 million a year ago. EBIT was 4.349 million compared to 2.224 million a year ago.
SAG Gest Solucoes Automovel Globais SGPS SA is a Portugal-based holding company engaged in the automotive sector. The Company is primarily involved in the import, distribution, retail and rental of new passenger and commercial cars, as well as spare parts and accessories. It is also active in the retail and wholesale of used cars. Additionally, the Company is engaged in the provision of after-sales services, car financing services and insurance brokerage. It operates in Portugal and Brazil. The Company's portfolio includes various brand names, including Volkswagen, Audi, Skoda, Bentley and Lamborghini. The Company has a number of subsidiaries, such as SIVA SA, Soauto Comercio de Automoveis SA and Rolporto SA.
SAG GEST - Soluções Automóvel Globais, SGPS, SA Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014