Accounts just filed for 2015 show that the French meat processor in which Dawn Meats took a 49% stake last year has returned a small profit for the first time since 2009, amid in-depth restructuring.
Dawn Meats chief executive and Elivia director Niall Browne.
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Elivia reported sales of just over €716m last year, 86% of which were made in France and 14% abroad. The figure cannot be compared with previous years as the group's parent company amalgamated seven of its subsidiaries in 2015 as part of an ongoing reorganisation effort, as previously reported.
The restructuring also led Elivia to shift around €6m in amortisation charges and provisions and take out €15m in new loans.
The enlarged company halved its operating loss to just under €670,000. Financial elements included a €2m dividend from Elivia's meat wholesale 100% subsidiary SCA BEV, which had sales of €27m and was later amalgamated into the parent company this year.
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0.15% net margin
Taking these into account, Elivia posted a net profit before tax of just over €1m. This equates to a net margin of 0.15%.
Elivia had posted net losses for the previous six years.
The company had nearly 2,000 employees at the end of 2015 and remained under the majority control of French co-op Terrena. The financial report did not specify whether Dawn Meats had since then used its option to increase the 49% stake it acquired last year, up to an agreed maximum of 70% by 2019.
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Elivia reported sales of just over €716m last year, 86% of which were made in France and 14% abroad. The figure cannot be compared with previous years as the group's parent company amalgamated seven of its subsidiaries in 2015 as part of an ongoing reorganisation effort, as previously reported.
The restructuring also led Elivia to shift around €6m in amortisation charges and provisions and take out €15m in new loans.
The enlarged company halved its operating loss to just under €670,000. Financial elements included a €2m dividend from Elivia's meat wholesale 100% subsidiary SCA BEV, which had sales of €27m and was later amalgamated into the parent company this year.
0.15% net margin
Taking these into account, Elivia posted a net profit before tax of just over €1m. This equates to a net margin of 0.15%.
Elivia had posted net losses for the previous six years.
The company had nearly 2,000 employees at the end of 2015 and remained under the majority control of French co-op Terrena. The financial report did not specify whether Dawn Meats had since then used its option to increase the 49% stake it acquired last year, up to an agreed maximum of 70% by 2019.
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