SARANTIS

Sarantis announced 1Q18 trading results with sales up 6.2% YoY to EUR 69m, EBITDA up 12.9% YoY to EUR 6.9m and EBIT up 10.2% YoY to EUR 5.4m. The adoption of IFRS 15 resulted in the restatement of historic sales figures, reduced by the amount of ‘trade costs’ that were previously recorded under operating expenses. Adjusting our sales forecasts we see that reported figures were in line with our estimates for +6% YoY growth, though profitability came in better than the expected EBIT of EUR 4.9m.

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