Nine month financial results 2010

The total performance of the company is judged satisfactory, given the existing negative economic situation and the difficult conditions of the domestic market.

 

In this unfavourable environment, CYCLON succeeded to increase its share of market in the domestic market of petroleum products and now it exceeds the 3,7% from 3,2% in the corresponding last year's period, and also increased its share in the market of lubricants. The economic results for the group of companies level, improved functional profits in the nine-month 2010 period and increased at 35%, compared to the corresponding last year's period (€3,4 mill.vs. €2,5 mill. in 2009).

 

Respectively EBITDA present increase of 21% (€5,5 mill. vs.€4,5 mill.). The pre taxes profits amounted in €1,8 mill.vs. €1,2 mill. for the 9 month period of 2009 and the after taxes profits €1,1 mill.vs. €706.000. In level of company the gross profits amounted in €16,2 mill. vs. €15,7 mill. for the 9 month period of 2009 and the functional profits increased at €536.000 ,from €3,1 mill. to  €3,6 mill., while the EBITDA were increased at €600.000 and amounted in €5,6 mill. The pre taxes profits were increased at 12% in comparison to last year, while the after taxes profits remained at the same level.

 

In the sector of investments, Cyclon continued the concretisation of modernisation of the refinery and the fuels premises, as a part of company’s strategic plan.

 

 

Environment

Using state-of-the-art methods, Cyclon implements Greek and EU law and provides a special unit for collecting concentrates and a biological treatment system, beyond those required by law, to further reduce the impact of its activities on the environment.


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Cyclon Drive Card

The Cyclon Drive Card offers security, speed and reliability: In a constantly expanding network of collaborating fuel stations, Cyclon Drive Card holders can take advantage of Cyclon products as well as a series of station services without paying cash,

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