AUTOHELLAS S.A.
AUTOHELLAS HERTZ reports increased turnover for the first semester of 2006
An increase in its economic figures presented Autohellas in the first semester of 2006. Consolidated turnover reached Euro 50.8mill from Euro 47.6mill in last year's semester, an increase of 6.7%. Earnings before tax, depreciation interest and investment results, reached Euro 28.6 mill. from 25.6mill. Demstar Rentals 2005 LTD which is the Hertz Franchisee in Cyprus, is being consolidated for the first time in a first semester. As a result, this period is burdened, in relation to the previous year, since rent-a-car companies produce most of their profits in the second semester. In addition, the lower dividend from our participation in Multifin, as well as a one-off change in a participant company s accounting methods, that took place in the first quarter of 2006, result in non-comparable figures as far as income from participation in associated companies is concerned. The above led in earnings after tax and minority rights of Euro 3.7 mill, from Euro 4.6mill in 2005. It is worth mentioning that Autohellas S.A., as a sand alone company, has increased its turnover by 8.3% and its profits by 24.4%