The management of Michaniki Group of Companies on the occasion of the announcement of the First Quarter 2008 Financial results would like to inform investors on the following:
Group level:
Michaniki Group consolidated turnover increased by 15.89 percent, to euro 54.75 million versus euro 47.25 million the year before.
Profit before taxes grew by 64.38%, to euro 21.22 million from euro 12.91 million in 2007.
Consolidated EBITDA increased by 74.47 percent, to euro 26.91 million in first quarter 2008 from euro 15.42 million the same period the year before.
Group Net Income grew by 55 percent, to euro 15.32 million in 2007 from euro 9.88 million in the same period on 2007.
Group Net Income (after taxes, Board fees, and after minority rights) grew by 44.34 percent, to euro 13.88 million in first quarter 2008 from euro 9.62 million in the same period in 2007.
Company level:
At a parent company level, Michaniki SA's turnover for the first quarter 2008 increased by 67.31 percent, to euro 44.87 million from euro 26.82 million.
Profits before taxes decreased by 25.21 percent, to euro 4.99 million versus euro 6.67 million in first quarter 2007.
The company's EBITDA stood at euro 10.17 million in first quarter 2008, from euro 7.16 million the year before, marking an increase of 42.06 percent.
Net Income (after tax, Board fees) decreased by 44.05 percent to euro 2.89 million in 2007 versus euro 5.16 million in first quarter 2007.
The publication of the financial results for the Q1 08 will be officially announced on Thursday, 29th of May.