November 29, 2006 Financial results for the period January - September 2006 reveal a stable growth for Altec Group. The main characteristics are the increase of sales and profits as well as the progress of profitability margins in relation to the same period of 2005. Also important was the decline of outstanding bank debt.
The Company
Earnings before interest, taxes and depreciation (EBITDA) increased by 4.43% to Euro 12.61 mil. from Euro 12.08 mil. EBITDA margin also increased by 3.56%.
Earnings after taxes were Euro 3.82mil. from Euro 3.80 mil.
Turnover of Altec amounted to Euro 75.33 mil. from Euro 74.7 mil. for the same period last year.
Bank debt decreased by 15.33% in relation to the same period last year.
Turnover of Altec for the period July - September 2006 increased by 28.31% in contrast to the same period of 2005 and amounted to Euro 25.63 mil. in relation to Euro 19.97 mil.
The Group
Earnings before interest, taxes and depreciation (EBITDA) amounted to Euro 16,15 mil. from Euro 15,63 mil., recording an increase of 3.30%. The EBITDA margin increased to 12.19% from 11.93%.
Altec Group turnover for the period January - September 2006 amounted to Euro 132.49 mil. from Euro 130.99 mil. in relation to the same period of 2005.
Gross profit improved by 4.28% and the relevant margin increased by 3.10% from 29.46% to 28.57% during the nine month period of 2006.
An important decline, in relation to 31/12/2005, took place for total bank debt of Altec Group that amounted to Euro 116.86 mil. from Euro 140.73 mil.
Earnings before taxes amount to Euro 3.56 mil. from Euro 3.86 mil.
Earnings after taxes and minority interests became Euro 1.88 mil. from Euro 2.10 last year.
Regarding the 3rd quarter of 2006 (July - September), Group turnover increased by 4.65% and amounted to Euro 42.62 mil. in relation to Euro 40.72 mil. for the same period of 2005.
