Chargeurs SA Reports Revenue Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Consolidated Earnings Guidance for 2012
For the full year, the company reported total revenue of 524.7 million compared to 552.3 million a year ago period.
The company provided consolidated earnings guidance for 2012. The Group will report a net loss for the year, estimated at approximately 16 million. The 26 million unfavorable swing compared with 2011 reflects a 17 million decline in operating profit breaking down as 9 million due to lower volumes, 5 million due to the negative price effect and 3 million corresponding to non-recurring items, a 4 million loss from discontinued operations and the previously announced roughly 5 million reduction in deferred tax assets. Throughout 2012, the company gave priority to rapidly paying down debt. As a result, net debt at December 31, 2012 should amount to just 32.6 million against 80.6 million at end-2011, representing an improvement of more than 60%.