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10
May
2012

Positive start for Smartrac despite flood disaster

Smartrac announced a positive start to the year despite the ongoing burden from the flood disaster in Thailand.
Total sales for the company increased by 4 percent from 49 million euro in Q1-2011 to 51 million euro in Q1-2012.

EBITDA decreased from 5 million euro in the first quarter of 2011 to 3 million euro in 2012. Profit for the period increased from 0.6 million euro in the first quarter 2011 to 1 million euro in the first quarter 2012. The company said the increase in profit mainly results from first insurance payments related to the flood in Thailand.

“We started the year with the positive momentum from the acquisitions and the burden from the flood disaster in Thailand. We are, however, confident that we will overcome the latter and derive value and growth from the integration of new business activities,” said CEO, Dr. Christian Fischer.
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