{"id":531,"date":"2010-11-09T00:00:00","date_gmt":"2010-11-09T00:00:00","guid":{"rendered":"https:\/\/www.asbis.com\/news\/?p=531"},"modified":"2023-07-28T14:18:17","modified_gmt":"2023-07-28T14:18:17","slug":"asbis-q3-2010-strong-increase-in-revenues-and-profits","status":"publish","type":"post","link":"https:\/\/news.asbis.com\/news\/press\/asbis-q3-2010-strong-increase-in-revenues-and-profits\/","title":{"rendered":"ASBIS in Q3 2010: Strong Increase in Revenues and Profits Heralds Bright Future"},"content":{"rendered":"

Press-release <\/b><\/p>\n

Revenues grew by 23.67% y-o-y, net profit exceeded u.s.$ 1.3 million<\/h3>\n

Limassol, 9 th November 2010 — ASBISc Enterprises Plc, a leading distributor of IT products in emerging markets of Europe, Middle East and Africa, posted revenues of USD 357 million for the third quarter of 2010, 23.67% higher than in Q3 2009. In the same time gross profit grew by 19.69% to USD 17.27 million compared to USD 14.42 million in Q3 2009. Strong growth in revenues and gross profit resulted in almost double operating profit that amounted to U.S.$ 4.12 million compared to U.S.$ 2.09 million in Q3 2009. Finally net profit reached U.S.$ 1.31 million – 17.78% higher compared to U.S.$ 1.11 million in Q3 2009. These results represent ASBISC's stronger market position, driven by growing demand and the Company's upgraded product portfolio on its main markets. <\/strong>  <\/strong><\/p>\n

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“Our sales grew significantly compared to both Q3 2009 and Q2 2010. This presents in the best way the market trend and our situation. Not only we won some additional share of the market from weaker competition during crisis times but now we can benefit from growing demand as well. We have upgraded our product portfolio to offer more laptops, software and own brands, together with our strong position in the traditional components segment. This quarter we had foreign exchange gains and together with good operational efficiencies we have generated a net profit by 18% higher than the corresponding period of 2009. We expect the good trend in sales to continue during the next quarter allowing us to be optimistic for the yearly end results. In the absence of extraordinary negative factors, we should post even higher revenues and profits for Q4, and close 2010 with revenues higher than in 2009 and with significant net profits.” <\/em>– commented Siarhei Kostevitch, CEO and Chairman of ASBISc Enterprises Plc.<\/p>\n<\/blockquote>\n

Financial results in Q3 2010<\/h2>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

In USD thousands <\/strong><\/p>\n<\/td>\n

\n

Q3 2010 <\/strong><\/p>\n<\/td>\n

\n

Q3 2009 <\/strong><\/p>\n<\/td>\n

\n

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

\n

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

\n

357,437<\/p>\n<\/td>\n

\n

289,024<\/p>\n<\/td>\n

\n

+23.67%<\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

15,271<\/p>\n<\/td>\n

\n

14,139<\/p>\n<\/td>\n

\n

+8.01%<\/p>\n<\/td>\n<\/tr>\n

\n

Currency movements on gross profit <\/strong><\/p>\n<\/td>\n

\n

1,989<\/p>\n<\/td>\n

\n

282<\/p>\n<\/td>\n

\n

+605.32%<\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

17,259<\/p>\n<\/td>\n

\n

14,421<\/p>\n<\/td>\n

\n

+19.69%<\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

4.27%<\/p>\n<\/td>\n

\n

4.89%<\/p>\n<\/td>\n

\n

-12.68%<\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

4.83%<\/p>\n<\/td>\n

\n

4.99%<\/p>\n<\/td>\n

\n

-3.21%<\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

5,778<\/p>\n<\/td>\n

\n

5,340<\/p>\n<\/td>\n

\n

+8.21%<\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

7,365<\/p>\n<\/td>\n

\n

6,989<\/p>\n<\/td>\n

\n

+5.38%<\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

4,116<\/p>\n<\/td>\n

\n

2,092<\/p>\n<\/td>\n

\n

+96.75%<\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

4,862<\/p>\n<\/td>\n

\n

2,800<\/p>\n<\/td>\n

\n

+73.65%<\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

1,309<\/p>\n<\/td>\n

\n

1,111<\/p>\n<\/td>\n

\n

+17.78%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Summary of growth trend: <\/strong><\/h2>\n