SOURCE: S & B Industrial Minerals
ATHENS, GREECE--(Marketwire - Nov 14, 2012) - S&B announces (S&B) (ATHEX: ARBA), Nine Months 2012 Financial Results.
NINE MONTHS 2012 HIGHLIGHTS
- Sales increased 3% compared to the nine months of 2011
- EBITDA up by 8% compared to the nine months of 2011
- One-time EUR 6.1 million depreciation effect on third quarter profitability from the annulled agreement of the bauxite divestment
- Completion of NYCO acquisition for $55.5 million with successful and efficient financing in the U.S.
S&B Industrial Minerals Nine Months 2012 Financial Results (IFRS) Press Release:
(Please click on the link below to view full press release)
Kriton Anavlavis, CEO of S&B, commented:
"Our focus on growing the top line has enabled us to deliver increased sales in spite of deteriorating global economic conditions. In this challenging environment we have maintained our strong market positions and achieved robust operating profitability and related margin improvement.
We are vigilant with regards to the developing global economic trends, especially the effect on metallurgy end-markets, and look to quickly and decisively respond to the current environment through a set of initiatives. At the same time, we look forward to the seamless integration of NYCO minerals into our Group. This successfully financed acquisition will further diversify our geographic footprint, enable us to access new market to mine value chains and allow us to leverage a stronger platform from which to provide new industrial solutions to our current and to new customers. This transaction is consistent with, underscores and promotes, S&B's long term objective of delivering sustainable value growth and returns for its shareholders."
Note Regarding Forward-Looking Statements
This document may contain forward-looking statements about S&B, including statements reflecting management's current view relating to future market conditions, future events and expected operational and financial performance. Forward-looking statements may be found throughout this document. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will materialize. Because forward-looking statements are based on assumptions and estimates, and are subject to risks and uncertainties, actual results could differ materially from those described or implied herein. S&B does not undertake any obligation to publicly update or revise any forward-looking statements included in this document, whether as a result of new information, future events or otherwise, except as required by applicable law or stock exchange regulation.