There was a significant 30% rise in the consolidated sales of HELLENIC CABLES S.A., which rose to Euro 199 million in the fist half of 2007, compared to Euro 153 million in the first half of 2006. There was a similar rise in the sales of the parent company, HELLENIC CABLES S.A., which rose to Euro 140 million (a 25% increase).
The consolidated EBITD of the group reached Euro 17.4 million, compared to Euro 14.3 million in the same period of 2006 (a 21% increase), whereas the EBITD of the parent company reached Euro 10.8 million, compared to Euro 9.5 million (a 14% increase). Also increased by 37% are the consolidated earnings before taxes which rose to Euro 11.5 million, whereas the earnings before taxes of the parent company reached Euro 6.1 million, compared to Euro 5.5 million in the same period in 2006.
Finally the net consolidated earnings after taxes and minority interests reached Euro 9.78 million, compared to 6.56 million (a 49% increase), namely Euro 0.358 per share (compared to Euro 0.244 in the first half of 2006). As for the parent company, HELLENIC CABLES S.A., the net earnings after taxes reached Euro 4.99 million (Euro 0.184 per share), compared to Euro 4.5 million in the same period in 2006 (Euro 0.169 per share).
Some of the factors that played a major role in increasing the turnover and improving the results were:
- a rise in the volume of sales, combined with the promotion of high added value cables (wind farms, high voltage, halogen-free cables).
- the significant contribution of ICME ECAB, a subsidiary in Romania, which has achieved two-digit development rates, based on the high momentum of the domestic market.
- the effective utilization of large investments realized by the company in the last five years, which have helped expand the range of offered new products.
The prospects of the company for the rest of the year are positive, provided that current conditions remain stable and there are no significant changes in the prices of metals.