Consolidated sales and operating profits of the S&B Group of companies showed increases of 10.6% and 11.8% respectively in the first quarter of 2007, compared to the corresponding period of 2006. More specifically, the consolidated sales revenue of the Group went up to Euro 115.53 million for the period, versus Euro 104.49 million, while operating profits reached Euro 11.06 million from Euro 9.89 million. The net profits of the Group, compromised by higher financial and tax charges, went up by 4.2% to Euro 6.35 million.
Financial Highlights of S&B Group - first quarter of 2007:
Sales: Euro 115.53 million (compared to Euro 104.49 million in the first quarter of 2006).
Gross profit: Euro 29.75 million (compared to Euro 26.59 million in the first quarter of 2006).
Earnings before tax, financial and investing income: Euro 11.06 million (compared to Euro 9.89 million in the first quarter of 2006).
EBITDA: Euro 17.05 million (compared to Euro 16.34 million in the first quarter of 2006).
Profit before tax: Euro 9.27 million (compared to Euro 8.76 million in the first quarter of 2006).
Net profit: Euro 6.35 million (compared to Euro 6.09 million in the first quarter of 2006).
Profit after tax and minority interests: Euro 6.29 million (compared to Euro 6.11 million in the first quarter of 2006).
In the Industrial Minerals Activities (which represent 78% of Group revenue), consolidated sales in the first quarter of 2007 were increased by 11.4% reaching Euro 94.67 million, versus Euro 85.01 million in the same period last year. The operating profits of these activities rose by 8.8%, reaching Euro 10.75 million versus Euro 9.88 million.
In the Commercial Activities (through the subsidiaries MOTODYNAMICS S.A. and ERGOTRAK S.A.), total sales for the first quarter 2007 reached Euro 20.92 million, showing a 7% increase from the previous year''s first quarter. The operating profits stood at Euro 228 thousand versus an operating loss of Euro8 thousand in the same period of 2006.
S&B''s Chief Executive Officer, Mr. Efthimios O. Vidalis commenting on the financial results of the first quarter of 2007 noted: "The good start of the first quarter attests to a strong year ahead".