HELLENIC CABLES HOLDINGS S.A.
Presentation of HELLENIC CABLES at the Union of Institutional Investors
The annual presentation of Hellenic Cables took place on Monday 7 April 2008 at the Union of Institutional Investors. The company's officials referred to the results of 2007, to the company's development during the first months of 2008, as well as to its perspectives and strategic goals.
The consolidated sales of HELLENIC CABLES SA, presented a significant increase by 26,5%, amounting to 406.5 million EURO in 2007 compared to 321 million EURO in 2006. A relevant increase occurred in the sales of parent company HELLENIC CABLES SA, which amounted to 294 million EURO (increase by 27%).
The Group's consolidated earnings before taxes, interests and amortizations amounted to 36,3 million EURO from 29,3 million EURO in 2006 (increase by 23,7%), while those of the parent company amounted to 20,4 million EURO compared to 18,4 million EURO in 2006 (increase by 11,19%). The consolidated earnings before taxes are also increased by 12,3%, amounting to 20,4 million EURO compared to 18,1 million EURO in 2006, while those of the parent company amounted to 11,4 million EURO compared to 9,8 million EURO in 2006.
Finally, the net consolidated earnings after taxes and minority rights amounted to 16 million EURO compared to 14,9 million EURO (increase by 7,1%), that is 0,589 EURO per share (compared to 0,555 EURO per share in 2006). As regards parent company HELLENIC CABLES SA, the net earnings after taxes amounted to 8,2 million EURO (0,302 EURO per share) compared to 7,4 million EURO in 2006 (0,275 EURO per share).
The following factors contributed significantly to the improvement of the results:
- The increase in the volume of sales, combined with the promotion of cable products of high value added (cables for wind parks, high voltage cables, halogen-free cables).
- The significant contribution of the affiliate ICME ECAB in Romania, presenting double-digit growth rates, based on the domestic market?s strong dynamics and on the constant improvement of the factory?s productivity.
- The effective exploitation of the large investments made by the company in the last five years, which contributed to the expansion of the range of the new products offered in competitive prices.
In 2007, the company initiated the execution of a long-term investing program of 50 million EURO, within the framework of a strategy to produce products of high value added (cables of high & very high voltage, underwater cables of medium & high voltage, cables for special applications) and to introduce them to new markets, taking advantage of the international developments in the field of energy (renewable sources of energy, extension and interconnection of European networks).
In 2008, the company continues to develop steadily, in order to achieve its strategic goals.
The company's presentation has been uploaded to the company's website, at www.cablel.gr.
The consolidated sales of HELLENIC CABLES SA, presented a significant increase by 26,5%, amounting to 406.5 million EURO in 2007 compared to 321 million EURO in 2006. A relevant increase occurred in the sales of parent company HELLENIC CABLES SA, which amounted to 294 million EURO (increase by 27%).
The Group's consolidated earnings before taxes, interests and amortizations amounted to 36,3 million EURO from 29,3 million EURO in 2006 (increase by 23,7%), while those of the parent company amounted to 20,4 million EURO compared to 18,4 million EURO in 2006 (increase by 11,19%). The consolidated earnings before taxes are also increased by 12,3%, amounting to 20,4 million EURO compared to 18,1 million EURO in 2006, while those of the parent company amounted to 11,4 million EURO compared to 9,8 million EURO in 2006.
Finally, the net consolidated earnings after taxes and minority rights amounted to 16 million EURO compared to 14,9 million EURO (increase by 7,1%), that is 0,589 EURO per share (compared to 0,555 EURO per share in 2006). As regards parent company HELLENIC CABLES SA, the net earnings after taxes amounted to 8,2 million EURO (0,302 EURO per share) compared to 7,4 million EURO in 2006 (0,275 EURO per share).
The following factors contributed significantly to the improvement of the results:
- The increase in the volume of sales, combined with the promotion of cable products of high value added (cables for wind parks, high voltage cables, halogen-free cables).
- The significant contribution of the affiliate ICME ECAB in Romania, presenting double-digit growth rates, based on the domestic market?s strong dynamics and on the constant improvement of the factory?s productivity.
- The effective exploitation of the large investments made by the company in the last five years, which contributed to the expansion of the range of the new products offered in competitive prices.
In 2007, the company initiated the execution of a long-term investing program of 50 million EURO, within the framework of a strategy to produce products of high value added (cables of high & very high voltage, underwater cables of medium & high voltage, cables for special applications) and to introduce them to new markets, taking advantage of the international developments in the field of energy (renewable sources of energy, extension and interconnection of European networks).
In 2008, the company continues to develop steadily, in order to achieve its strategic goals.
The company's presentation has been uploaded to the company's website, at www.cablel.gr.