Ιnfo-Quest : Growth of new activities with significant investments Info-Quest grows investing in the expansion of its activities in the IT Solutions that offers in the Greek market and the Balkans. In this aspect, a share purchase agreement was signed on Aug. 4, 2006 for the 32.976% of the share capital of UNISYSTEMS S.A.
H1 2006 financial results of parent company Info-Quest are as follows: (For comparison reasons, only the continuing activity i.e. IT is taking into account)
Sales reached 129 m vs 121 m and Earnings after Taxes reached 1.144 th vs 1.335 th in H1 2005. The slight decrease of the profits is due to increased expenses related to the growth of new activities in Greece and abroad and to expenses ( 750 th) required for the company to proceed with the share capital return of 73 m. to shareholders.
H1 2006 financial results are not comparable with H1 2005 results, because H1 2006 includes the outcome of the sale of the subsidiaries companies Q-Telecommunications S.A. and Computer Club S.A. The sale of Q-Telecommunications S.A. for 330 m which concluded on January 31, 2006 has significantly affected the financials of the company and the Group. The after tax profit from Q Telecom's sale (the discontinuing operation) that is included in H1 2006 financial results is 237 m for the Group and 238 m for the parent company. After the share capital decrease and the respective cash return to the shareholders of 73 m the financials of parent company Info-Quest on June 30, 2006 are: Own equity 261 m., zero bank debt and 76 m in cash. The Group's Income Statement of H1 2006 -in the form that is published on the daily press- includes the financial results of Q-Telecommunications S.A. for the period Jan.1 - Jan 31, 2006.
Additionally, the Group's and the company's Income Statements of H1 2005 include the financial results of Q Telecom for the period Jan.1 - June 30, 2005 which is not included in H1 2006 Income Statement. For this reason, H1 2006 Group and company results cannot be compared with these of H1 2005.
The management of the company advises the users of the company's and Group's financial results, to read the interim financial statements which are posted at the Company's Website (www.quest.gr).
In the above financial statements, the operating results of the discontinuing activities (Q-Telecom and Computer Club operations) have been reported separately, so that H1 2006 results can be compared with those of H1 2005.
Therefore, taking into account all the above notes, the Financial Results of Info-Quest Group for H1 2006 under I.F.R.S. (from continuing and discontinuing activities) are:
Consolidated Revenues of 201 m vs. 242 m in H1 2005,
Consolidated Earnings before Interest, Taxes and Depreciation (E.B.I.T.D.A.) of 7 m vs. 16 m.
Consolidated Earnings before Taxes (E.B.T.) of 245,6 mi vs. 7 m Consolidated Earnings after Taxes and minority interest from continuing operations 940 th vs. 560 th.
H1 2006 results (from continuing and discontinuing activities) for the Parent company are:
Revenues in H1 2006 reached 128,7 m vs. 193,5 m, EBITDA reached 0.5 m vs. 15 m, Earnings before Taxes reached 243 mi vs. of 7.9 m and Earnings after Taxes reached 238,3 mi vs. of 6,6 m in H1 2005.
ACS Courier
ACS S.A., the courier services company continues in 2006 to show improved financial results. H1 2006 sales reached 36,8 m vs 31,9 m an increase of 15% - EBITDA more than doubled reaching 2.3 m vs. 1 m. EBT 1,6 m vs. 0,4 m and Earnings after Taxes reached 983 th vs 170 th in H1 2005. ACS has the largest network of franchisees with more than 320 points of sales in 200 cities in Greece. ACS operates in Cyprus and Albania and from this year will also operate in Bulgaria and Romania.