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ALTEC S.A.
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Press Release
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August 30, 2007 Altec Group and Company financial results largely improved during the 6 month period of 2007 in relation to the same period last year. ALTEC As presented in the financial statements for the period 1.1.2007 - 30.6.2007, Altec profits after tax increased by 58,87% amounting to euro 5,59 mio from euro 3,52 mio of the same period last year. Company turnover increased by 36,87% to euro 68,02 mio from euro 49,69 mio during the same period last year. Gross profit amounted to euro 23,23 mio from euro 17,30 mio presenting an increase of 34,26%. Operating profits (EBITDA) improved by 40,33% amounting to euro 13,30 mio in contrast to euro 9,47 mio. Profits before tax increased to euro 7,66 mio from euro 4,43 mio, that is by 73,18%. Margins are also largely improved during the six month period of 2007. Specifically, net profit margin increased by 16,07%, from 7,08% to 8,22%. Profit margin before tax increased by 26,53% from 8,91% to 11,27%. EBITDA margin is 19,55% from 19,07%, and gross profit margin remained at the same level with the six month period of 2006 that is to 34,16%. It is worth noticing that Company liabilities continued to decrease (by 3,29%), during a period of intensive marketing campaign and increased marketing costs for the support of the new Altec products. The decreased liabilities by euro 5 mio in combination with the increased profitability further improved Altec capital structure. GROUP At Group level the situation is similar that is, financial results and margins continue to improve. Specifically, during the first six month period of 2007, profits after tax increased by 38,83% amounting to euro 4,60 mio from euro 3,31 mio for the same period of 2006. Group turnover increased by 10,60% amounting to euro 99,40 mio from euro 89,87 mio. Gross profit amount to euro 39,52 mio in contrast to euro 28,13 mio, increased by 40,49%. Operating profit (EBITDA) increased by 31,31% amounting to euro 16,94 mio from euro 12,90 mio. Profit before tax amount to euro 7,27 mio from euro 4,44 mio, increased by 63,78%. Margins are also largely improved during the six month period of 2007.Gross profit margin improved by 27,03% and was 39,76% from 31,30% last year. EBITDA margin increased by 18,73% up to 17,04% from 14,35%. Profit margin before tax amounted to 7,32% from 4,94% increased by 48,08%. Net profit margin increased by 25,52% up to 4,63% from 3,69%. Group liabilities, as in Company, decreased by 4,91% during the six month period of 2007, that is by euro 10 mio approximately. Comments on Q2 Financial Results The improvement in financial results and general financial position stems from the business strategy that is based on the launch of new advanced cutting-edge products of high added value. We mention "iDO" and "iDO + Home" that were launched by Altec Group during the first semester of 2007. Furthermore, the new telephony products that are based on the advanced "i-Call" service that, among other things, make the convergence between fixed and mobile telephony come true, with very competitive prices.
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