MICHANIKI S.A.: Revenues +18.5%, EBITDA +68%, Net profit +45.5%
MICHANIKI GROUP: Revenues ?2.2%, EBITDA +68.5%, Net profit +3.6%

MICHANIKI SA is pleased to announce strong profitability growth in the first nine months of 2005, due to an acceleration of contracts signed for new construction projects.

The financial statements of September 30, 2005 are under International Accounting Standards (IAS).
At a parent company level, Michaniki SA turnover increased in the first nine months of 2005 by 18.5% to 64.89 million euros, from 54.76 million euros in the same period a year earlier.EBITDA stood at 18.18 million euros in 9M 2005, from 10.80 million in 9M 2004, marking an increase of 68.2%.
MICHANIKI S.A. net profit grew by 45.5% to 6.44 million euros, from 4.42 million in 2004.
MICHANIKI Group consolidated turnover decreased marginally to 86.85 million euros versus 88.81 million euros.
Consolidated EBITDA increased by 68.5% to 23.84 million euros in the first nine months of 2005, from 14.14 million euros the year before.
Consolidated net profit after taxes grew 3.6% to 7.82 million euros, from 7.55 million euros in 2004. Profits after minorities stood at 8.58 million from 13.44 million last year.