The financial results of Electroniki Athinon for the first half of the 2007/2008 financial year were in line with the Management's guidance. The positive financial performance comes mainly from the Company's like for like sales, since the new stores, which opened in the aforementioned period, have not yet matured in terms of financial performance.
Specifically, Consolidated Turnover of Electroniki Athinon at the end of the first half 2007/2008 amounted to 119.4 mil. euro compared to 94.58 mil. euro in the respective period last year (2006/2007), thus posting a significant increase of 26.3%.
During the same period, Consolidated Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) amounted to 10.36 mil. Euro compared to 8.66 mil. Euro previously, thus posting an increase of 19.6%.
The same upward trend was also realized in Earnings before Taxes, which amounted to 6.68 mil. euro from 6.08 mil. euro in the first half of the previous year, posting annual growth of 9.8%. Finally, Earnings after Taxes and Minority Interest amounted to 4.84 mil. euro, compared to 3.87 mil. euro the previous year, rising by 25% y-o-y.
Outlook - Objectives
Regarding the Company's outlook for the full year 01/07/07 - 30/06/08, the Management confirms its guidance, which refers to Turnover of 245 mil. euro and EBITDA over 20 mil. euro. Moreover, the Company?s performance during the eight-month period resembles the one observed in the 1st half.
Turnover growth for Electroniki Athinon, the largest Greek chain of electrical and electronic appliances in Greece, is linked to the Company's strong brand name and customer-centered approach.