Info-Quest announces its Q1 2006 Financial Results which include the outcome of the sale of Q-Telecom and for that reason they cannot be compared with the Q1 2005 results.
The sale of Q-Telecom for Euro 330 m in cash concluded on January 31, 2006 and it has a significant effect both, on the parent company and the Group Balance Sheet and Profit & Loss Account.
The after tax profit derived from the sale of Q Telecom (the discontinuing operation) that is included in Q1 2006 financial results is Euro 237 m on a Group level and Euro 238 m for the parent company.
After the share capital decrease and the respective cash return to the shareholders of Euro Euro 73 mi, which was concluded on April 19, 2006 the parent company -Info-Quest- has now total own equity of Euro 260 mi, zero bank debt and Euro 70 mi in cash.
The Group's Income Statement of Q1 2006 - in the form that is published on the daily press- includes the financial results of Q-Telecommunications S.A. for the period Jan.1 - Jan 31, 2006.
Additionally, the Group's and the company's Income Statements of Q1 2005 include the financial results of Q Telecom for the period Jan.1 -March 31, 2005 which is not included in Q1 2006 Income Statement.
For this reason, Q1 2006 Group and company results cannot be compared with these of Q1 2005.
The management of the company advises the users of the company's and Group's financial results, to read the interim financial statements which are posted at the Company's Website (www.quest.gr).
In the above financial statements, the operating results of the discontinuing activities (Q-Telecom operations) have been reported separately, so that Q1 2006 results can be compared with those of Q1 2005. Therefore, taking into account all the above notes, the Financial Results of
Info-Quest Group for Q1 2006 under I.F.R.S. are:
- Consolidated Revenues of Euro 108 mi vs. Euro 118 mi in Q1 2005,
- Consolidated Earnings before Interest, Taxes and Depreciation (E.B.I.T.D.A.) of Euro 5 mi vs. Euro 8 mi.
- Consolidated Earnings before Taxes (E.B.T.) of Euro 244,7 mi vs. Euro 2 mi in Q1, 2005.
- Consolidated Earnings after Taxes and minority interest from discontinuing operations Euro 238 mi vs. of Euro 1 mi.
- Consolidated Earnings after Taxes and minority interest from continuing operations Euro 326 th. vs. Euro 362 th.
For the Parent company, revenues in Q1 2006 reached Euro 65 mi vs. Euro 95 m, EBITDA reached Euro 1,2 mi vs. Euro 7,0 mi, Earnings before Taxes reached Euro 243 mi vs. of Euro 2 mi and Earnings after Taxes reached Euro 238,3 mi vs. of Euro 1,5 mi in Q1 2005.
Earnings after Taxes from continuing operations for the Parent company, reached Euro 359 th. vs. Euro 446 th. the respective period of 2005.
ACS Courier:
ACS S.A., the courier services company continues in 2006 to show improved financial results. Q1 2006 sales reached Euro 17,3 mi vs Euro 14,9 mi, EBITDA reached Euro 754 thousands vs. Euro 354 th, EBT Euro 459 th vs. losses of Euro 9 th and Earnings after Taxes Euro 189 th versus losses of Euro 41 th in Q1 2005. ACS has the largest network of franchisees with more than 320 points of sales in 200 cities in Greece. ACS operates in Cyprus and Albania and from this year will also operate in Bulgaria and Romania.