|
|
|
|
HERACLES GENERAL CEMENT COMPANY S.A.
|
Announcement
|
|
August 29, 2008 TURNOVER AND EBITDA INCREASED BY 8% GROUP FINANCIAL RESULTS million euro8 H1 2007 % Turnover 356.7 331.1 7.7% EBITDA 74.1 68.7 7.9% Net Profit after Tax 29.0 28.2 2.8% HERACLES General Cement Co. Group of Companies announced today sales amounting to 356.7 million Euros for the first half of the year 2008, increased by 7.7% compared to the corresponding period in 2007. The Group's earnings before interest, tax, depreciation and amortization (EBITDA) for the half year 2008 amounted to 74.1 million Euros, increased by 7.9% as compared to the same period in 2007. The increase in the Group's profits, despite the unprecedented and successive increases of the fuel and electric power prices, is mainly attributed to the reduction of fixed costs, selling and administrative expenses and generally to the strict control of operating cost, in the frame of the Group Lafarge Excellence 2008 strategic plan. In the half year 2008 the Group's net profit after tax increased by 2.8%, amounting to 29 million Euros, as compared to the same period in 2007. COMPANY FINANCIAL RESULTS At Company level, sales amounted to 321 million Euros for the first half of the year 2008, increased by 8% compared to the corresponding period in 2007, whereas the net profit after tax for the same period in 2008 amounting to 31 million Euros, increased by 5.6% as compared to the corresponding period in 2007. About the company HERACLES Group of Companies, a member of Lafarge, is Greece's largest cement producer, with a production capacity of 9.6 million tons per year, and the largest cement exporter in Europe. Operating three cement plants, in Volos, Halkis and Milaki in Evoia, six cement terminals, as well as production and trading units of aggregates and concrete, the Heracles Group has production activity in 29 prefectures in Greece and trading activity throughout continental and island Greece. Lafarge is the world leader in building materials, with top-ranking positions in all of its businesses: Cement, Aggregates & Concrete and Gypsum. With 90,000 employees in 76 countries, Lafarge posted sales of Euros 17.6 billion and net income of Euros 1.9 billion in 2007. Lafarge is the only company in the construction materials sector to be listed in the 2008 "100 Global Most Sustainable Corporations in the World". Lafarge has been committed to sustainable development for many years, pursuing a strategy that combines industrial know-how with performance, value creation, respect for employees and local cultures, environmental protection and the conservation of natural resources and energy. To make advances in building materials, Lafarge places the customer at the heart of its concerns. It offers the construction industry and the general public innovative solutions bringing greater safety, comfort and quality to their everyday surroundings. Additional information is available on the web site at www.lafarge.com.
|
|
|
|
|
|
|
