Frigoglass, Europe?s leading manufacturer and solutions provider of Ice-Cold Merchandisers (ICMs), with operations in 14 countries across three continents, announces today nine month 2006 results:
Nine Month 2006 Highlights
- Sales of Euro 337.8 million, 38.7% above last year?s nine months
- EBITDA up 40.1% to Euro 74.7 million
- EBIT up 54.2% to Euro 60.5 million
- EBT rose by 52.8% to Euro 55.5 million
- EPS of Euro 0.94 versus Euro 0.59, up 57.9%
- NTS/NWC ratio improved by 15.6% versus first nine months 2005
Mr Dimitris Lois, Managing Director, Frigoglass, commented:
"Our strong performance in the third quarter allowed us to build on the positive tone set in the first half of the year, enabling us to present an excellent set of financial results, with Net Profit up 57.9% in the first nine months. This was achieved through a very strong sales performance together with a continued focus on operational efficiencies. With our traditionally least significant financial quarter still to come, we remain confident that we will meet our full year guidance.
Our performance was driven by Cool, where sales grew 49.6%. Significant growth came from Coca-Cola bottlers (other than Coca-Cola HBC), in markets such as Germany and the Scandinavian countries, South Africa, and India, as well as from Coca-Cola HBC in Russia and Italy. These developments have maintained our long term strategy of diversifying into our customer base, with Coca-Cola bottlers other than Coca-Cola HBC now accounting for 26.4% of Cool Sales and breweries accounting for 24.7%.
Strong growth in all our geographies during the first nine months of the year confirms the success of our strategy of focusing on multi-channel development, in mature markets as well as emerging geographies, together with our leadership in offering highly effective bespoke Ice-Cold Merchandising solutions?.