Group sales positively affected by relative improvement of the domestic demand from low levels


Efforts to optimize costs continue.

Heracles GCCo Group of Companies (Group) announced today sales of 236.5 million Euros for 2014, increased by 0.5% compared with 235.2 million Euros in 2013. Sales of the Company were at 208.8 million Euros, decreased by 0.9% compared with 210.6 million Euros in 2013.

The Group's results before taxes, interest, depreciation and amortization (EBITDA) were a loss of 13.7 million Euros in 2014 compared to a loss of 131.1 million Euros in 2013. The Company's EBITDA was a loss of 6.2 million Euros in 2014 compared to a loss of 120.0 million Euros last year.

The Group presented in 2014 net losses after taxes of 40.7 million Euros, compared to 136.3 million Euros losses after taxes in 2013. In 2014, the Company presented net losses after taxes of 26.4 million Euros compared to 118.6 million Euros losses after taxes in 2013.

The increase of the Group turnover in 2014 is attributed to the relative improvement of the Greek building materials market driven by public and co-financed infrastructure projects, while private construction activity remaining low. Exports were impacted by the negative evolution of the average exchange rate of the Euro against dollar compared to 2013.

In addition, the Group and the Company continued in 2014 implementing measures to reduce operating costs and optimize performance in production, supply chain and administration activities, while at the same time efforts to explore opportunities for offering innovative products and solutions both in domestic and international markets intensify.

The Group's investments in 2014 amounted to 4.9 million Euros compared to 7.7 million Euros in 2013. They focused on the Group's strategic priorities of safety and occupational health, environmental performance, competitiveness at international level, sustainable development, energy and the use of alternative fuels.

Outlook for 2015 forecasts remain uncertain with a flat domestic market driven by infrastructure projects, while the private construction activity will remain low.

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