ELMEC SPORT S.A.
Group financial results for the Full Year of 2007
*Group sales improved by 16.7%
*Group net income after minorities increased by 203% to EUR 14.2 million
Group results:
Sales rose by 16.7% to EUR 211.5 million in the fiscal year 2007 (FY 2006: EUR 181.3 million).
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) rose by 41% to EUR 24.5 million from EUR 17.4 million in FY 2006 and Earnings Before Taxes reached EUR 22.9 million compared to EUR 11.1 million for the year 2006 (+105%).
Net earnings after taxes and minorities rose by 203% to EUR 14.2 million versus EUR 4.7 million last year, mostly thanks to the sale of our participation in the Craiova real estate project.
Finally, profits per share reached EUR 0.26 compared to EUR 0.08 in FY 2006.
Elmec Sport (stand alone) results highlights:
Sales for the period January 1st, to December 31st 2007, declined by 11,6% to EUR 74,4 million (FY 2006: EUR 84,1million), mostly due to the termination of the distribution of Nike products in Greece and Cyprus.
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) reached EUR 3,5 million from EUR 8,2 million the year before.
Sales by geographical region:
Sales in Greece accounted for 76% of total sales posting a sales increase of 9%, Romania sales reached 20% of total sales growing by 63.4%, Bulgaria generated 3% of sales exhibiting an increase of 65,1% and other country sales reached a sales participation of 1% .
Sales per division:
Department stores accounted for half of total sales performing an increase of 29%, wholesale sales accounted for 15%, a drop of 20%, retail sales accounted for 31% increasing by 26% and other sales account for 5% of sales increasing by 2%.
Elmec Sport S.A. is a rapidly expanding group focusing on retail sales, by operating department stores such as attica,the department store and two discount department stores, namely Factory Outlet in Peiraus and Factory Outlet Airport.
Elmec's activities spread in 3 countries, with more than 125 points of sale.
Dividend.
The Company's Board of Directors proposes to the Annual General Assembly of the shareholders, the distribution of dividend per share of euro 0.59
*Group net income after minorities increased by 203% to EUR 14.2 million
Group results:
Sales rose by 16.7% to EUR 211.5 million in the fiscal year 2007 (FY 2006: EUR 181.3 million).
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) rose by 41% to EUR 24.5 million from EUR 17.4 million in FY 2006 and Earnings Before Taxes reached EUR 22.9 million compared to EUR 11.1 million for the year 2006 (+105%).
Net earnings after taxes and minorities rose by 203% to EUR 14.2 million versus EUR 4.7 million last year, mostly thanks to the sale of our participation in the Craiova real estate project.
Finally, profits per share reached EUR 0.26 compared to EUR 0.08 in FY 2006.
Elmec Sport (stand alone) results highlights:
Sales for the period January 1st, to December 31st 2007, declined by 11,6% to EUR 74,4 million (FY 2006: EUR 84,1million), mostly due to the termination of the distribution of Nike products in Greece and Cyprus.
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) reached EUR 3,5 million from EUR 8,2 million the year before.
Sales by geographical region:
Sales in Greece accounted for 76% of total sales posting a sales increase of 9%, Romania sales reached 20% of total sales growing by 63.4%, Bulgaria generated 3% of sales exhibiting an increase of 65,1% and other country sales reached a sales participation of 1% .
Sales per division:
Department stores accounted for half of total sales performing an increase of 29%, wholesale sales accounted for 15%, a drop of 20%, retail sales accounted for 31% increasing by 26% and other sales account for 5% of sales increasing by 2%.
Elmec Sport S.A. is a rapidly expanding group focusing on retail sales, by operating department stores such as attica,the department store and two discount department stores, namely Factory Outlet in Peiraus and Factory Outlet Airport.
Elmec's activities spread in 3 countries, with more than 125 points of sale.
Dividend.
The Company's Board of Directors proposes to the Annual General Assembly of the shareholders, the distribution of dividend per share of euro 0.59