Increase in sales by 14.8% and EBITDA by 16.2%
INCREASE IN SALES BY 14.8% AND OPERATING PROFITS (EBITDA) BY 16.2%.
Athens, November 26th 2004. M.J.MAILLIS GROUP is announcing its Consolidated Financial Results for the Nine Month period of 2004.
Consolidated Sales of euros 258.1 mln versus euros 224.8 mln in the nine months of 2003, corresponding to an increase of 14.8%.
Consolidated Earnings before Interest, Taxes and Depreciation (E.B.I.T.D.A.) of euros 45.1 mln versus euros 38.8 mln in the nine months period of 2003, leading to an increase of 16.2%.
Consolidated Earnings before Taxes (E.B.T.) of euros 19.3 mln versus euros 17.0 mln in the relevant period of 2003, corresponding to an increase of 13.7% The Group's year to date performance continues to be on target by consistently meeting its organic growth objectives.
The Group's Strategy of ?Profitable Growth' started to pay off as profits (E.B.I.T.D.A) increased of a higher rate than sales.
The Parent Company in Greece M.J.Maillis S.A. achieved sales of euros 92.9 mln for the first nine months of 2004 versus ? 70.3 mln a year ago. This translates to a robust rate of growth of 32.1% year to year.
The Group's program of consolidating its operations and capitalize on the synergies created by its 'acquisition program' is well underway with key priorities of increasing profitability and generate cash.