May 30, 2006 M.J.MAILLIS GROUP announces its Consolidated Financial Results for the 1st Quarter 2006:
Consolidated Turnover of Euro 94.3 mln versus Euro 93.4 mln in the 1st quarter of 2005.
Consolidated Earnings before Interest, Taxes, Depreciation and Restructuring Charges (E.B.I.T.D.A.) of Euro 13.7 mln versus Euro 16.3 mln in the relevant period of 2005.
Consolidated Net Income (N.I.) of Euro 4.1 mln versus Euro 5.8 mln in the 1st Quarter of 2005.
In the 1st Quarter of 2006 Consolidated Turnover posted a marginal increase of 1%, reaching Euro 94.3 mln. If we exclude the price effect -steel prices as well as plastics in the 1st quarter 2006 were significantly lower than those of the 1st quarter 2005- volume sales posted an increase of 5.3%.
The plastic strapping division generated the highest increase in volume sales, following the successful start-up of the Group's operations in South Carolina. The first production line installed in mid-2005 is running at full capacity and the second line that was installed in April this year, is operational as of May.
As presented in the Annual General Shareholders' Meeting, the Group is working on a specific 3-year Business Plan, which combines streamlining and investments in order to achieve 25% cumulative growth until 2008.
