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Financial Year:
2001 |
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VIII) DEVELOPMENT OF BUSINESS |
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The
development of the company during the period covered by
this information has maintained a positive trend.
During this 6-month period, which ended on 30 June 2001,
consolidated net turnover was more than 11.3% greater
than the same period in 2000, which was 14,166 million
pesetas compared with 12,731 million in the same period
of the previous financial year.
Within this general development of sales, both the domestic
market and the foreign markets have shown a positive response:
the turnover of the domestic market has increased by 14.6%
compared with the same period in the previous year, and
turnover on the foreign markets by 5.8%. Exports represent
35.9% of the company's total net turnover.
In the general development of the income statement for
the consolidated group it should be pointed out that during
this first 6 months of 2001, the consolidated result before
tax was 1,596 million, which compared with the 1,235 million
for the same period in the previous financial year, represents
an increase in profits of 29.2%.
Profits after tax were 1,368 million pesetas, an increase
of 34.9% compared with the first 6 months of the previous
year, demonstrating the considerable increase in profit
margins.
As we can see, the workforce fund or working capital as
at 30.6.2001 was 4,426 million, which compared with the
3,954 million at 30.6.2000 represents an increase of 12%,
with investments in fixed assets of 636 million having
been made during the 6-month period, along with R&D
expenses of 537 million pesetas.
The debt with credit entities under the short-term heading
is solely represented by the risk of discounted accounts
receivable. |
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