On Wednesday, November 29, 2006 a corporate presentation of LAMDA DETERGENT S.A. was made by Mr. Lavrentis Lavrentiadis, Managing Director, and Mr. John Papavassiliou, Chief Financial Officer, at the Association of Greek Institutional Investors.
At the beginning of the presentation, Mr. Lavrentiadis made a brief allusion to the core activities of LAMDA DETERGENT S.A. Group, which regard the production of detergents for multinationals and private label companies.
Next, Mr. Lavrentiadis mentioned the recent corporate developments which are already being implemented. More specifically, with the merger of LAMDA DETERGENT S.A. with Lamda Cosmetics S.A. (subsidiary of NEOCHIMIKI L.V. LAVRENTIADIS S.A.) the segments of detergents and cosmetics will be unified. This will reduce costs (warehousing areas, procurement and administrative expenses), it will expand the range of products offered in the already wide client base of the company and it is expected to have an impact on FY 2007 results by increasing expected sales by 12-15% and earnings after tax by 18-20%.
Going on with the presentation, the Chief Financial Officer, Mr. Papavassiliou, reported the consolidated financial figures, stressing out that the company achieved high growth rates with regard to sales, which amounted to 100 mil.Euro, posting an increase of 71.4% in relation to 9M 2005, to EBITDA which rose to 19 mil. Euro, up by 80.2% and to the net earnings after tax and minorities which amounted to 10 mil.Euro, up by 101% as compared to those of 2005.