A corporate presentation of the S&B Industrial Minerals Group on its activities, its financial results and its investment proposition was delivered today at the Association of Greek Institutional Investors by the Chief Financial Officer of the Group, Mr. Kriton Anavlavis. Mr Anavlavis, analysed the S&B Group's investment proposition, which from the beginning of 2008 -following the carve-out of MOTODYNAMICS S.A. and the definitive agreement to sell Ergotrak S.A.- is focused purely on natural resources. More specifically, he emphasized the sustainable long-term growth strategy of the Group, which aims at exploiting its competitive advantages to develop, both geographically as well as in new products and in new applications, seeking new "Market to Mine" added value chains, and safeguarding long-term shareholder value through limiting dependence on economic cycles and implementing the principles of sustainable development. The Chief Financial Officer went on to emphasize S&B's consistency with its strategy, which is reflected both in the financial results of 2007, another strong year of growth (with increases of 17.5% and 13.3% in consolidated Group sales and net profits, respectively), as well as in the Company's performance over the past years. To this effect he noted that since 2004 (the first year financial statements were published according to the IFRS), as regards the Group's Continuing Operations, i.e. the Industrial Minerals Activities, turnover and net profits after minority rights, have been growing at average annual rates of 14.4% and 22.8% respectively, without any material increase in net debt over this entire four year period (2004-2007).
In closing, and commenting on the 2008 first quarter results of the Group (showing increases of 19.5% and 32.3% in consolidated Group sales and net profits, respectively) Mr Anavlavis noted that they cannot be considered as representative for the entire year since they include non-recurring profits from the adaptation to the new Group focus on natural resources. Referring to the future he highlighted that despite the pressures on margins, due to the increasing inflationary pressures mainly attributed to the increase in oil prices and ocean freights, and the unstable macroeconomic environment, the S&B Group continues on a steady growth path with a clear focus on natural resources aiming to effectively implement its ambitious development strategy and Vision.