On 26/5/2006 the Annual General Meeting of the shareholders was held at the company?s premises in Tavros, where the company?s financial results were approved and a resolution was adopted for the distribution of dividend to shareholders for year 2005. Despite the adverse weather conditions during summer 2005, especially in the Balkans, where 40% of the Group?s consolidated turnover is performed, the Group managed to limit the consequences of reduced sales through the adoption of specific measures. More specifically, during 2005 the financial performance of DELTA ICE CREAM SA in Greece, by application of the IFRS was as follows:
- The company?s sales fell to Euro 68.3 million from Euro 72.6 million in the previous year, reduced by 5.9%.
- Earnings before interest, taxes, depreciation and amortization (EBITDA) stood at Euro 13.6 million from Euro 14.2 million, producing yield of 19.92% on net sales against 19.56% in the previous year.
- Earnings before interest and tax (ΕΒΙΤ) stood at Euro 7.4 million from Euro 8.1 million in 2004.
- Earnings before taxes (ΕΒΤ) stood at Euro 2.9 million from Euro 5.4 million in 2004.
On Group level, the financial performance of DELTA ICE CREAM SA in 2005 was as follows:
- Sales stood at Euro 119.6 million from Euro 122.6 million in the previous year, reduced by 2.5%.
- Earnings before interest, taxes, depreciation and amortization (EBITDA) stood at Euro 17.1 million from Euro 18.4 million in 2004.
- Consolidated earnings before interest and taxes (ΕΒΙΤ) stood at Euro 4.2 million Euro 6.4 million in the previous year.
The transfer of shares of DELTA ICE CREAM SA and its subsidiaries from DELTA HOLDING SA to the NESTLE Group "as already announced" is currently in progress and is expected to be completed soon.
In 2006 the DELTA ICE CREAM SA Group will continue its growing performance, basically through the launching of innovative products and efficient exploitation of its distribution network in the Balkans. The annual General Meeting of the shareholders further resolved the distribution of dividend to the company?s shareholders for year 2005, equal in total to 1,265 million or Euro 0.06 per share, against Euro 0.08 per share in 2004.