The Sales of the Group were 180 million Euros versus 223 million decreased by 19%. The decrease is mainly due to reduced sales of the parent company and Unisystems subgroup and the non-inclusion in the first semester 2009 of companies’ results sold or liquidated at the end of the last year.
The EBITDA amounted to EUR 2.9 million versus 1.2 million in 2008.
Earnings before taxes amounted to EUR 0.7 million compared to loss 2 million for the first half of 2009.
The borrowings of the Group amounted to 25 million Euros versus 73.4 million at the end of the previous year decreased by 66%.
The Group's cash at the end of the current period amounted to EUR 15.7 million versus 14.1 million at the end of the previous year.
The financial results of the parent company for the first semester 2009 were as follows:
Sales amounted to 92.1 million Euros versus 122.8 million the same period last year, reduced by 25%. The reduction is attributed to the overall decrease in the IT market, as well as to the transfer of technical support from the company to its subsidiary, Unisystems.
The EBITDA amounted to -1.7 million versus -0.1 million. The loss before taxes was EUR 2.5 million compared to profits 0.4 million Euros.
The loss after tax was EUR 2.4 million versus 0.02 million euro profit last year.
The borrowings of the company were 6 million Euros versus 53.3 million at the end of last year falling by 89%.
Cash at the end of the current period amounted to EUR 1 million in the same as last year's level.
The financial results of UniSystems for the first half of 2009 are as follows:
Sales amounted to 50.6 million Euros versus 67.1 million the same period last year decreased by 25%. Gross profit amounted to EUR 10.5 million versus 10.4 million the same period last year.
The EBITDA amounted to 2.3 million versus 0.7 million, profit before tax was 1.6 million versus 2.6 million and profit after tax and minority interests was 2.4 million versus 1.6 million Euros last year.
The borrowings of the company amounted to EUR 19 million versus 20.1 million at the end of last year. Cash at the end of the current period amounted to 6.2 million versus 3.4 million at the end of the previous year.
The financial results of subsidiary ACS Courier for the first semester of 2009 were as follows:
Sales amounted to EUR 44.2 million versus 42.2 million, EBITDA was 3.2 million versus 3.1 million, profit before tax amounted to EUR 2.8 million equal to the corresponding last year, while profits after taxes amounted to EUR 2 million versus 2.1 million in the first half of 2008.
Bank borrowings don’t exist. Cash at the end of the current period amounted to EUR 4 million versus 4.1 million at the end of the previous year.
