MICHANIKI SA is pleased to announce strong profitability growth in 2007.
Group level:
Michaniki Group consolidated turnover increased by 35.65 percent, to 226.14 million euros versus 166.71 million euros in 2006.
Profit before taxes grew by 111.62%, to 71.62 million euros from 33.84 million euros in 2006.
Consolidated EBITDA increased by 106.11 percent, to 78.81 million euros in 2007 from 38.23 million euros the year before.
Group Net Income grew by 106.24 percent, to 53.51 million euros in 2007 from 25.95 million euros in 2006.
Group Net Income (after taxes, Board fees, and after minority rights) grew by 86.34 percent, to 47.12 million euros in 2007 from 25.29 million euros in 2006.
Company level:
At a parent company level, Michaniki SA's turnover for FY07 increased by 120.40 percent on y/y basis, to 145.62 million euros from 66.07 million euros.
Profits before taxes increased by 163.11 percent, to 31.03 million euros versus 11.79 million euros in 2006.
The company's EBITDA stood at 24.29 million euros in 2007, from 11.26 million euros the year before, marking an increase of 115.60 percent.
Net Income (after tax, Board fees) increased by 189.71 percent to 24.77 million euros in 2007 versus 8.55 million euros in 2006.
MICHANIKI's Management will recommend to the General Assembly of the Shareholders the distribution of 0.16 euros dividend per share.
The publication of the financial results for the FY07 will be officially announced on Thursday, 27th of March.