Last €0.45 EUR
Change Today +0.004 / 0.89%
Volume 302.3K
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As of 6:19 AM 07/22/14 All times are local (Market data is delayed by at least 15 minutes).

marfin investment group hold (MIG) Snapshot

Open
€0.46
Previous Close
€0.45
Day High
€0.46
Day Low
€0.45
52 Week High
04/11/14 - €0.57
52 Week Low
07/25/13 - €0.27
Market Cap
348.2M
Average Volume 10 Days
864.0K
EPS TTM
€-0.24
Shares Outstanding
770.4M
EX-Date
06/25/13
P/E TM
--
Dividend
--
Dividend Yield
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marfin investment group hold (MIG) Details

Marfin Investment Group Holdings S.A. is a private equity and venture capital firm specializing in seed/startups, middle market, mature, turnarounds, mezzanine financing, PIPEs, industry consolidation, and buyouts. It also focuses on privatizations and infrastructure projects and invests in dairy products, juices, frozen foods, drink mixes, marine, healthcare providers and services, airlines, software and services, food and beverages, Information Technology and telecommunication, transportation and shipping, tourism and leisure, real estate management and development, and real estate investment trusts (REITs). The firm prefers to invest in SEE countries with a particular focus on Albania, Bulgaria, Romania, Serbia, Greece, and Turkey. The firm makes balance sheet investments and also invests through its personal capital. Marfin Investment Group Holdings S.A. was founded in 1998 and is based in Nea Erythrea, Greece with additional offices in London, United Kingdom and Nea Erythrea, Greece.

10,712 Employees
Last Reported Date: 05/22/14
Founded in 1998

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marfin investment group hold (MIG) Key Developments

Marfin Investment Group Reports Consolidated and Company Earnings Results for the First Quarter Ended March 31, 2014

Marfin Investment Group reported consolidated and company earnings results for the first quarter ended March 31, 2014. For the quarter, reported consolidated revenues of €257.3 million against €263.3 million a year ago, amid a seasonally soft quarter, challenging market conditions and the impact to HYGEIA Group (3.4m charge) related to the legal obligation to implement the automatic claw back and rebate mechanisms in the healthcare sector. Excluding this impact, consolidated revenues declined 1% y-o-y, matching the annual real GDP contraction (-1.1%) in Greece in first quarter of 2014. EBITDA from business operations at €2.8 million loss, compared to €6.6 million loss a year ago. Containment of losses is attributed to ongoing gross profit margin expansion, efficiency improvements as well as cost containment effectiveness. The curtailment of operating losses is primarily associated to better results from VIVARTIA, ATTICA and HYGEIA (excluding aforesaid impact). Reported consolidated EBITDA at €9.1 million loss, adversely impacted by the aforesaid charge to HYGEIA Group, compared to €10.0 million loss a year ago. Consolidated net loss, after tax and minorities, of €51.7 million, compared to a relevant bottom-line loss of €104.3 million in first quarter of 2013. NAV per share of €1.27 compared to €1.61 in the same period last year. Loss before income tax was €55.5 million compared to €59.2 million in the same period last year. For the quarter, the company reported losses before tax of €7.9 million compared to €7.6 million, loss after tax of €7.9 million compared to €7.6 million for the last year.

Marfin Investment Group Reports Consolidated Earnings Results for the Full Year of 2013

Marfin Investment Group reported consolidated earnings results for the full year of 2013. Consolidated 2013 revenues of €1,189.0 million against €1,264.4 million a year ago, due to the prolonged challenging economic and market conditions and the exceptional impact to Hygeia Group (€28 million charge booked in fourth quarter 2013) related to the legal obligation to implement the automatic claw back and rebate mechanisms in the healthcare sector. Excluding this exceptional impact, consolidated revenues declined 3.7% year-on-year, matching the annual real GDP contraction in Greece. EBITDA from business operations at €62.0 million, 113% annual improvement compared to €29.1 million in fiscal 2012, attributed to widening gross profit margins, cost containment effectiveness and improved efficiency. The profitability improvement is primarily associated to better results from ATTICA, VIVARTIA and FAI. Reported consolidated EBITDA turns profitable at €8.6 million, against €50.9 million loss a year ago, reflecting the substantial profitability improvement of business operations, despite the significant €28 million impact to Hygeia Group EBITDA related to the aforesaid government policy decisions. Consolidated net loss, after tax and minorities, of €203.3 million, adversely impacted by one-off deferred taxes (€35 million), negative revaluation of investment property (€10.8 million against €43.2 million in 2012) and impairment charges (€47.5 million against €1,090.6 million in 2012). The relevant bottom-line loss in 2012 amounted to €1,298.0 million. Net Asset Value (NAV) at €967 million against €1,297 million on 31.12.2012, translating to a NAV per share of €1.26 compared to €1.68 on December 31, 2012.

Marfin Investment Group Holdings S.A. Auditor Raises 'Going Concern' Doubt

Marfin Investment Group Holdings S.A. filed its Annual on Mar 31, 2014 for the period ending Dec 31, 2013. In this report its auditor, Grant Thornton, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

 

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