SAG's profits fell 52.3% to 6.8 million euros in the first nine months of the year, compared with the 14.2 million euros in the same period of last year, revealed the company reported to the Commission Market Securities (CMVM).
According to the same source, when adjusted to exclude the contribution of BSCP / Interbanco to the consolidated results of the first three quarters of 2007, the SAG recorded a consolidated net profit of 6.8 million, which represents a reduction of 27% in relation to the result achieved in the same period of last year.
"Despite the adverse macroeconomic environment which affected the whole
markets where the SAG is active, it should be noted the
positive contribution of the results obtained in the third quarter, "explains the company.
EBITDA, or "cash flow" operation, which reached 57.5 million, a growth of 7% compared to that seen in the same period of last year, "deserves particular attention from the growth of the United Nations, in Brazil."
The consolidated turnover for the quarter amounted to € 599 million, an increase of 10.4% compared to same period a year earlier, driven by positive contributions of Siva, and the United Ecometais.
EBIT has grown by almost 3% on the value achieved in the same period of 2007 to 43.8 million.
The consolidated financial results represented in total, an increase of annual costs amounting to around 8.9 million euros due to two factors.
First the contribution of Santander Consumer / Interbanco that during the same period of 2007, had contributed to a positive result of about 4.9 million. And then the "increase in the indebtedness of the United Nations, due to the strong growth of its fleet, which was in very substantial part, financed by aportação of funds originated in Portugal."
According to the same source, when adjusted to exclude the contribution of BSCP / Interbanco to the consolidated results of the first three quarters of 2007, the SAG recorded a consolidated net profit of 6.8 million, which represents a reduction of 27% in relation to the result achieved in the same period of last year.
"Despite the adverse macroeconomic environment which affected the whole
markets where the SAG is active, it should be noted the
positive contribution of the results obtained in the third quarter, "explains the company.
EBITDA, or "cash flow" operation, which reached 57.5 million, a growth of 7% compared to that seen in the same period of last year, "deserves particular attention from the growth of the United Nations, in Brazil."
The consolidated turnover for the quarter amounted to € 599 million, an increase of 10.4% compared to same period a year earlier, driven by positive contributions of Siva, and the United Ecometais.
EBIT has grown by almost 3% on the value achieved in the same period of 2007 to 43.8 million.
The consolidated financial results represented in total, an increase of annual costs amounting to around 8.9 million euros due to two factors.
First the contribution of Santander Consumer / Interbanco that during the same period of 2007, had contributed to a positive result of about 4.9 million. And then the "increase in the indebtedness of the United Nations, due to the strong growth of its fleet, which was in very substantial part, financed by aportação of funds originated in Portugal."
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