News blog
Helesi
- BY: Andrew Hore |
- POSTED: 06/03/2012 |
Greece-based wheelie bins maker Helesi expects revenues to decline by nearly 30% in 2011.
Helesi is negotiating the rescheduling of its debenture loans. This should be achieved by the end of April. Net debt was €65.7m at the end of 2011. Helesi is trying to collect the cash owed by Greek and Italian governments and net debt should fall slightly in the first half of 2012.
In 2011, revenues will fall from €50.1m to €35.2m, while EBITDA will slump from €2.7m to €200,000. Costs have been reduced.
The Komotini factory has returned to normal after a redundant worker took hostages.
The prospects for the Greek market remain uncertain
At 3.75p a share, down 0.5p, Helesi is valued at £1.49m.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFFebruary2012_29.pdf
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