The first trimester of the current year 2007 ended with a significant increase of sales and of profits for the company "STELIOS KANAKIS A.B.E.E", who is actively involved in the importation and commercial distribution of raw materials of pastry-making, bakery and ice cream.
main feature of the company'' s course for the first trimester of the present year is on the one hand the maintenance of a satisfactory rate of development and on the other hand the fact that the development of the company was exclusively financed with its own capitals.
According to the interim financial reports of the period 1/1/2007 - 31/3/2007:
- e turnover ascended to Euro 3,826 million presenting an increase of 12,03% comparing to Euro 3,415 million of the corresponding last year''s period.
The operation of the new privately owned storage and distribution center, which was constructed by the company at Thessalonica (Sindos Industrial Zone) contributed essentially to the improvement of the company''s sales. The new center was put into full operation in the first trimester of the current year 2007 and contributes to the company''s total incomings and enables the further development of the company in the geographical areas in which the company addresses (North Greece and Balcans).
- The profits before taxes, interests and depreciations (EBITDA) presented an increase of 14,43% and arose to Euro 460 thousands instead of Euro 402 thousands for the first trimester of 2006. The major increase rate of operational profits to sales is attributed to the improvement of the gross profit margin. More specifically the gross profit margin increased by 1,25%, arising to 31,97%.
- The profits before taxes (ΕΒΤ) arose to Euro 381 thousands, presenting an increase of 14,21% comparing to the first trimester of 2006.
- The profits after taxes (ΕΑΤ) increased significantly by 18,59% arising to Euro 277 thousands. The profits per share were increased by the exact same rate (+18,59%), since there has been no change in the number of the company''s shares.
- It has to be noted that the profits improvement was accomplished despite the expenses (promotion expenses) that were necessary for the company''s participation in the 10th International Exhibition of Bakery, Pastry-making, Ice cream and Chocolate Products "ARTOZA", which took place during the first trimester of 2007. This Exhibition , that takes place every 2 years , is the most important event for the relevant branch in Greece.
In what concerns the financing of the sales, "STELIOS KANAKIS A.B.E.E." used solely its own resources. The company presents positive functional flows and finances through those its up to date development and growth.
Finally, it has to be noted that the short term banking claims decreased by 42% in the end of the first trimester of 2007, arising to Euro 400 thousands (comparing to Euro 700 thousands at 31/12/2006) and at the present time the company''s capital and reserves account arise to Euro 12,378 millions.