Announcement
ALTEC's president, Mr. Thanasis Athanassoulis, presenting the company's financial results for 2005 at the Members Association of the Athens Stock Exchange, expressed his assurance that IT and Telecommunications sectors will be at their peak during the following years. He pointed out that "stock analysts and experts should not confuse particular companies which produced negative results with the sector itself" and specifically for the IT sector, he continued "the Greek market remains extremely competitive in comparison to the European market, and particularly ALTEC - one of the few companies of solely Greek interests- has not only covered domestic needs, but also invested and contributed with its know how abroad and undertook projects in many countries". Referring to the financial results for 2005, the President of ALTEC Group stressed the following: ALTEC
- Gross profit margin has improved greatly and amounted to 29.29% compared to 25.83% of 2004.
- Bank loaning decreased by 5,59%, whereas ALTEC's total liabilities reduced by 7.84%.
ALTEC GROUP
- Gross profit margin for 2005 amounted to 28.41% compared to 2004's 19.80%.
- Bank loaning decreased by 7%, whereas total liabilities reduced by 9%.
Finally, according to Mr. Athanassoulis, in 2005 "ALTEC not only improved its financial indexes, but also showed the company's potentiality, its competitive capabilities within the international environment and the perspective of the IT sector and mainly the quality and know how of its human resources". Note: ALTEC's presentation is available at www.altec.gr