Turnover, euro 85.3 million - EBITDA, euro 4.3 million - Earnings Before Taxes euro 2.4 million
Turnover of the company Microland SA presented an increase for 2007. According to the company's published financial statements for fiscal year 2007, consolidated Turnover amounted to euro 85.3 mil. from euro 78.4 mil., an increase of 8.7% compared to 2006. Earnings Before Interest, Taxes, Depreciation & Amortization (EBITDA) for 2007 amounted to euro 4.3 million from euro 4.9 million the previous year, presenting a marginal decline, while Earnings Before Taxes amounted to euro 2.4 million from euro 2.9 million in 2006. Finally, Earnings after Taxes amounted to euro 1.7 million for 2007 compared to euro 2.2 million for 2006.
Results of the parent company presented similar growth rates, with Turnover and EBITDA posting the same results as the consolidated, as the company's subsidiaries do not have substantial activities. Earnings before Taxes for 2007 amounted to euro 2.0 million from euro 3.0 million in 2006 and Earnings after Taxes amounted to euro 1.3 million for 2007 compared to euro 2.2 million for the previous year. The marginal decline in earnings for 2007, is due to increased advertising expenditure, which aimed at improving Microland's brand awareness, as well as the increase of the sale points based on franchising.
Microland constitutes the largest independent retail sale network for telecommunication services in Greece, with 61 sale points and an aim to reach 100 during 2008. Through Microland' s Store Network, the consumer has the ability to select any mobile telephony program from the 3 providers operating in Greece, as well as fixed telephony and internet programs by Altec Telecoms. The Management's objective is for Microland to constitute a "one stop shop" in the sale of telecommunication services, with the largest store network in which all mobile telephony providers and most broadband service providers will have presence.