{"id":481,"date":"2013-02-27T00:00:00","date_gmt":"2013-02-27T00:00:00","guid":{"rendered":"https:\/\/www.asbis.com\/news\/?p=481"},"modified":"2023-07-28T14:08:09","modified_gmt":"2023-07-28T14:08:09","slug":"asbis-group-results-for-2012","status":"publish","type":"post","link":"https:\/\/news.asbis.com\/news\/press\/asbis-group-results-for-2012\/","title":{"rendered":"ASBIS Group results for 2012"},"content":{"rendered":"

Limassol, Cyprus, February 27th, 2013 – <\/b>ASBISc Enterprises Plc, a leading distributor of IT products in emerging markets of Europe, the Middle East and Africa, closed a successful Q4 2012 and Y2012. During the period the company strengthened its market position and significantly increased sales of its own brands. This resulted in record-high revenues in Y2012 of USD 1.745 billion, 17.73% higher than in Y2011. In Q4 2012 alone, the group generated revenues of USD 566.4 million, representing growth of 20.47% from Q4 2011.<\/strong><\/p>\n

Profitability was in line with forecasts. In 2012, NPAT grew by 59.84%, to USD 9.047 million, from USD 5.660 million in 2011. In Q4 2012 alone, NPAT was USD 4.442 million (lower than in Q4 2011, when it was USD 8.276 million because of the exceptional influence of the HDD segment in Q4 2011). Thus ASBIS delivered on its financial forecasts for Y2012 by exceeding the revenue target and with net profits in the upper range of its forecasts.<\/p>\n

Siarhei Kostevitch, CEO and Chairman of ASBISc Enterprises Plc, commented: “This was a successful quarter since we were able to significantly increase our sales and profits despite economic turbulence. We finished Y2012 in line with our forecasts, being better at all levels than the prior year. The milestone of Q4 2012 was the strong growth of the high-margin own-brand business, which increased to a historical record of USD 69.7 million, compared to USD 32.9 million in Q4 2011. Thus our own brands’ contribution to total revenues grew to 12.31% in Q4 2012, compared to 7% in Q4 2011. We are focussing more and more on this area as we are achieving a competitive advantage here, differentiating us from traditional IT distribution companies.”<\/p>\n

Kostevitch continued: “Our gross and net profitability reached very satisfactory levels, and we are confident that with the right re-balancing of our product portfolio and the right actions taken on operational efficiency, we should achieve even better results in the near future. The management team of the company remains committed to delivering robust results and maximizing shareholder value. Improvement in margins, profitability and cash-flow will be our main focus in 2013.”

<\/strong><\/p>\n

FINANCIAL RESULTS IN Q4 2012 AND Q4 2011 (USD ’000)<\/h2>\n

<\/p>\n\n\n\n\n\n\n\n\n\n\n
\n

 <\/strong><\/p>\n<\/td>\n

\n

Q4 2012<\/strong><\/p>\n<\/td>\n

\n

Q4 2011<\/strong><\/p>\n<\/td>\n

\n

Change<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

Revenues<\/strong><\/p>\n<\/td>\n

\n

566,397<\/p>\n<\/td>\n

\n

470,157<\/p>\n<\/td>\n

\n

+20.47%<\/p>\n<\/td>\n<\/tr>\n

\n

Gross profit after currency movements<\/strong><\/p>\n<\/td>\n

\n

28,894<\/p>\n<\/td>\n

\n

29,428<\/p>\n<\/td>\n

\n

-1.81%<\/p>\n<\/td>\n<\/tr>\n

\n

Gross profit margin<\/strong><\/p>\n<\/td>\n

\n

5.10%<\/p>\n<\/td>\n

\n

6.26%<\/p>\n<\/td>\n

\n

-18.50%<\/p>\n<\/td>\n<\/tr>\n

\n

Administrative expenses<\/strong><\/p>\n<\/td>\n

\n

(6,721)<\/p>\n<\/td>\n

\n

(6,281)<\/p>\n<\/td>\n

\n

+7.02%<\/p>\n<\/td>\n<\/tr>\n

\n

Selling expenses<\/strong><\/p>\n<\/td>\n

\n

(13,737)<\/p>\n<\/td>\n

\n

(12,501)<\/p>\n<\/td>\n

\n

+9.89%<\/p>\n<\/td>\n<\/tr>\n

\n

Operating profit<\/strong><\/p>\n<\/td>\n

\n

8,436<\/p>\n<\/td>\n

\n

10,647<\/p>\n<\/td>\n

\n

-20.76%<\/p>\n<\/td>\n<\/tr>\n

\n

EBITDA<\/strong><\/p>\n<\/td>\n

\n

9,254<\/p>\n<\/td>\n

\n

11,465<\/p>\n<\/td>\n

\n

-19.28%<\/p>\n<\/td>\n<\/tr>\n

\n

Net profit<\/strong><\/p>\n<\/td>\n

\n

4,442<\/p>\n<\/td>\n

\n

8,276<\/p>\n<\/td>\n

\n

-46.33%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

<\/strong><\/p>\n

<\/strong><\/p>\n


<\/strong>FINANCIAL RESULTS IN Q1–Q4 2012 AND Q1–Q4 2011 (USD ’000)<\/h2>\n

<\/strong><\/p>\n

 <\/p>\n

<\/p>\n\n\n\n\n\n\n\n\n\n\n
\n

 <\/strong><\/p>\n<\/td>\n

\n

Q1–Q4 2012<\/strong><\/p>\n<\/td>\n

\n

Q1–Q4 2011<\/strong><\/p>\n<\/td>\n

\n

Change<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

Revenues<\/strong><\/p>\n<\/td>\n

\n

1,744,878<\/p>\n<\/td>\n

\n

1,482,075<\/p>\n<\/td>\n

\n

+17.73%<\/p>\n<\/td>\n<\/tr>\n

\n

Gross profit after currency movements<\/strong><\/p>\n<\/td>\n

\n

85,468<\/p>\n<\/td>\n

\n

81,250<\/p>\n<\/td>\n

\n

+5.19%<\/p>\n<\/td>\n<\/tr>\n

\n

Gross profit margin<\/strong><\/p>\n<\/td>\n

\n

4.90%<\/p>\n<\/td>\n

\n

5.48%<\/p>\n<\/td>\n

\n

-10.65%<\/p>\n<\/td>\n<\/tr>\n

\n

Administrative expenses<\/strong><\/p>\n<\/td>\n

\n

(23,916)<\/p>\n<\/td>\n

\n

(25,168)<\/p>\n<\/td>\n

\n

-4.97%<\/p>\n<\/td>\n<\/tr>\n

\n

Selling expenses<\/strong><\/p>\n<\/td>\n

\n

(41,332)<\/p>\n<\/td>\n

\n

(40,421)<\/p>\n<\/td>\n

\n

+2.25%<\/p>\n<\/td>\n<\/tr>\n

\n

Operating profit<\/strong><\/p>\n<\/td>\n

\n

20,220<\/p>\n<\/td>\n

\n

15,660<\/p>\n<\/td>\n

\n

+29.11%<\/p>\n<\/td>\n<\/tr>\n

\n

EBITDA<\/strong><\/p>\n<\/td>\n

\n

23.082<\/p>\n<\/td>\n

\n

18,748<\/p>\n<\/td>\n

\n

+23.11%<\/p>\n<\/td>\n<\/tr>\n

\n

Net profit<\/strong><\/p>\n<\/td>\n

\n

9,047<\/p>\n<\/td>\n

\n

5,660<\/p>\n<\/td>\n

\n

+59.84%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

<\/strong><\/p>\n

FINANCIAL FORECAST FOR 2012<\/h2>\n

 <\/p>\n

For 2012, ASBIS forecasted revenues between USD 1.55 billion and USD 1.65 billion and NPAT from USD 7.5 million to USD 9.5 million.<\/p>\n

 <\/p>\n

<\/p>\n

Through four quarters of 2012, the company: <\/p>\n