Increase in after tax profits by 98.3%
EBITDA increase by 30.5%
Increase in Gross Profit Margin by 11 basis points
The results of ALTEC [ABEE] had significant improvement during the first quarter of 2008 compared to the corresponding interval of last year, as these are depicted in the financial statements.
Specifically, the profits after taxes were amounted to euro 1.73 million, against euro 0.87 million in the first quarter of 2007, showing an increase of 98.3%. The profits before interest, tax, depreciation and amortization (EBITDA), presented an increase of 30.5% and reached euro 5.30 million from euro 4.05 million at the equivalent last year's interval, while the profits before tax amounted to euro 2.58 million from euro 1.34 million in the first quarter of 2007, presenting a rise of 92.2%. The gross profit margin proved an impressive rise of 11 basis points and was shaped in 33.4% from 22.6% the corresponding interval 2007. The turnover of the company decreased by 32.9% and was shaped in the euro 24.4 million from euro 36.4 million for the equivalent last year's interval.
The improvement of results of ALTEC ABEE, originate from the impressive increase of gross profit margin, something that constitutes essential the reward in the choice of company's management on focusing to products and services with high added value.
The decrease of turnover in combination with the improvement of qualitative indicators of profitability, is owed mainly in the choice of the company to limit or even to annihilate activities that contribute particularly in the increase of turnover but do not contribute in proportional degree in the improvement of profitability. The improvement of profitability ratios for the 1st quarter 2008, is owed mainly in the amplification of activities in software and in integrated solutions, that produce considerably higher profit margins compared to the rest of the activities.
In consolidated basis, turnover for the first quarter of 2008, was shaped in the euro 48.73 million from euro 50.57 million presenting slight bending of 3.6%. The earnings before interest, tax, depreciation and amortisation (EBITDA) for the first quarter of 2008, amounted in euro 6.08 million from euro 5.30 million at the equivalent last year's interval, having an increase of 14.9%, while the results before tax were shaped in euro 1.12 million from euro 0.95 million and the results after tax amounted in euro 0.12 million losses from euro 0.32 million of profits during last year.