SAG GEST - Soluções Automóvel Globais, SGPS, SA Announces Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2013
November 28, 2013
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SAG GEST - Soluções Automóvel Globais, SGPS, SA announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2013. For the nine months, the company reported turnover of 284.642 million against 297.740 million a year ago. LBT was 6.224 million against 9.545 million a year ago. Loss attributable to the shareholders was 8.554 million against 8.580 million a year ago. Loss per share after tax was 0.0559 against 0.0561 a year ago. Net cash from operating activities was 5.193 million. Acquisitions of assets were 1.166 million. During the nine months ended on 30 September 2013, consolidated EBITDA was 6.9 million, an 8.0% increase when compared to the same period in 2012, reflecting a reduction in the cost structure which was higher than the decrease in business volume. Consolidated net debt as at 30 September 2013 was 286.4 million, a 43.5 million decrease in comparison to 31 December 2012.
For the quarter, the company reported turnover of 94.083 million against 89.380 million a year ago. LBT was 1.091 million against 1.727 million a year ago. Loss attributable to the shareholders was 2.319 million against 0.913 million a year ago. Loss per share after tax was 0.0152 against 0.0060 a year ago. In the third quarter, consolidated EBITDA was 2.0 million, 7.1% above the result achieved in the same period in 2012.
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 Financial Results for the Third Quarter and Nine Months Ended September 30, 2013