The semiannual financial results (1/1/2006 - 30/6/2006) highlight the emphasis that management put on the improvement of qualitative financial indicators, something that entails a key strategic choice during the last years. Therefore, we notice the following:

ALTEC
EBITDA was euro 9,47 mil. for the period, that is 19,07% expressed as a margin, in relation to 17,32% for the same period of 2005.
After tax profit presented a marginal increase but as a percentage of sales - that is after tax profit margin, became 7,08% in relation to 6,42% for the same 6 month period of 2005.
Gross margin increased by 2 percentage points, from 33% in 30/6/2005 to 35% in 30/6/2006.
Also, a very important fact is the decrease of bank debt by euro 21,9 mil. during the period, that corresponds to 16,4% of total outstanding bank debt. Although profit before tax decreased marginally, from euro4,54 mil. to euro4,43 mil., in terms of profit margin before tax, increased, from 8,30% in 30/6/2005 to 8,91% in 30/6/2006.
Turnover for the period was euro 49,70 mil. in relation to euro 54,72 mil. for the same period of 2005.
This turnover reduction is due to:
- A further restriction of H/W distribution that is a very low margin and high risk business.
- The delay in the initiation of contracts due to additional and time consuming procedures.
The above mentioned facts demonstrate the planed and targeted strategy of ALTEC that concentrates, first on products and services of high value added and returns, and secondly, on the continuous qualitative improvement of financial figures.
Company' s management will persist with the above mentioned strategy because, under current market conditions, is the only way that will guarantee an ongoing and long - term growth.

GROUP OF COMPANIES
EBITDA increased by 6,95% and reached euro 12,90 mil. in relation to euro12,06 mil. for the same last year period. EBITDA margin also improved to 14,35% in relation to 13,36% for 30/6/2005.
During the six - month period of 2006, the Group's outstanding bank debt was decreased by euro 24,40 mil, that is a17,38% decrease of total bank debt. Furthermore, gross margin in 30/6/2006 was 31% in relation to 30% for 30/6/2005. Turnover in 30/6/2006 was euro 89,87 mil. in relation to euro 90,27 mil. for the same period of 2005.
Profit after tax and minority interests in 30/6/2006 was euro 3,39 mil. in relation to euro 4,36 mil. Profit after tax in 30/6/2006 was euro 3,31 mil. in relation to euro 3,60 mil. in 2005 for the same period of 2005.
Profit before tax was euro 4,44 mil. in relation to euro 4,77 mil. for the six month periods of 2006 and 2005 respectively.