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[August 2009]
Bulgaria's Kaolin Plc Retains Previous Year's EBITDA Level
Kaolin Plc (Senovo, Bulgaria) reported sales revenues for the first six months of 2009 of BGN 45,968,000. The company’s sales registered an increase compared to the first quarter of 2009 – from BGN 21,629,000 up to BGN 24,339,000 for the second quarter.Irrespective of the complicated economic situation, the sales amount for the first six months of this year was only 19% lower compared to the sales for the same period in 2008.
During the second quarter, an increase of the incomes from sales in the ceramics industry and the construction sector was noted, respectively by 43% and 77% in comparison to the first quarter of 2009.
The net financial result of the company for the six months is profit to the amount of BGN 3,693,000, compared to BGN 5,445,000 for the same period in 2008. At the same time, the earnings before interests, taxes depreciation and amortisation (EBITDA) amounted to BGN 9,687,000 and have retained the level registered in the first six months of 2008.
The net financial result for the second quarter only was BGN 3,352,000, compared to BGN 4,098,000 for the same quarter in 2008.
The considerable increase in the financial result for the second quarter was also due to the serious restrictions imposed on the expenses for operational activity which, in practice, remain at the level of the first quarter in 2009. The expenses related to staff, transportation and logistics services and expenses for materials were essentially optimised. There is an increase only in the deduction for amortisation and depreciation.
During the past quarter, the company successfully completed the second stage of the ISO 14001 certification process.
www.kaolin.bg
ENDS