- Turnover: +7,1%
- ΕΒΙΤ: +9,1%
- ΕΒΤ: +30,4%
- ΕΑΤΑΜ: +49,1%

Sarantis Group financial results in 2004 demonstrated a constant growth rate in sales as well as improved profit margins.
More specifically, the Group's turnover reached 248,8 mio euro, increased by 7,1% compared with the same period in 2003 (232,3 mio euro). Earnings before taxes & interest (EBIT) amounted to 32,85 mio euro an increase of 9,1% versus 2003 (30,1 mio euro). The Group for the specific period of time presents earning before taxes (EBT) 29,33 mio euro, increased by 30,4% versus 2003 (22,50 mio euro). Finally, the Group presents earning after taxes and minority interests (ΕΑΤΑΜ) 16,70 mio euro, increased by 49,1% compared to 2003 (11,20 mio euro).
Regarding the breakdown of the Group?s turnover per business unit, we can observe that the Group?s core business units, cosmetics and household products, were the best performers and demonstrated growth of +8,5% and +5,1% respectively. Luxury cosmetics were the key growth driver of the Group?s turnover since it realized double digit growth (+9,7%).
Group's turnover 2004 2003 Δ %
(euro '000.000)
COSMETICS (total) 143,03 131,79 8,5%
Luxury Cosmetics 82,10 74,87 9,66%
Mass Market Cosmetics 60,93 56,92 7,04%
HOUSEHOLD PRODUCTS 68,51 65,18 5,11%
HEALTH & CARE PRODUCTS 15,48 14,80 4,60%
CAR ACCESSORIES 12,58 10,45 20,37%
PET CARE PRODUCTS 9,20 10,06 -8,51%
TOTAL 248,79 232,26 7,11%

Turnover's geographical breakdown indicates that Greece contributed 72,2% to total sales for 2004 (versus 73,2% in 2003), while Eastern European countries contribution advanced to 27,8% (versus 26,8% in 2003).
TURNOVER (MIO euro)
2004 2003 %
Greece 179,6 169,95 5,68%
E. Europe 69,19 62,31 11,03%
Total 248,79 232,26 7,11%

The Eastern European markets realized double digit growth (+11,03%), with most important results those of Romania (+9,8%), Serbia (+59,4%) and SKOPJE (+109%). Regarding the breakdown of the Group's EBIT per business unit we can observe that cosmetics and especially luxury cosmetics generated significant growth rates (+ 9,3%). Moreover, health & care products profitability was significantly enhanced (+44,8%) for 2004. Finally, household products generated weaker (-0,69%) due to stronger promotion expenses in Eastern European markets.
EBIT 2004 2003 Δ %
(euro '000.000)
COSMETICS (total) 21,39 19,58 9,3%
Luxury Cosmetics 15,32 14,07 8,89%
Mass Market Cosmetics 6,08 5,51 10,29%
HOUSEHOLD PRODUCTS 8,09 8,14 -0,69%
HEALTH & CARE PRODUCTS 2,29 1,58 44,78%
CAR ACCESSORIES 1,06 1,19 -10,54%
PET CARE PRODUCTS 0,01 - 0,38 -
TOTAL 32,85 30,12 9,07%

Regarding profit geographical breakdown, Greece contributed 84,2% to total EBIT while Eastern European markets contribution was 15,8% for the specific period of time.
ΕΒΙΤ (mio euro)
2004 2003 %
Greece 27,65 25,75 7,40%
E. Europe 5,19 4,37 18,94%
Total 32,85 30,12 9,07%

Greece remains the most significant source of earnings for 2004. Moreover, EBIT presented double digit growth in Eastern European countries (18,9%),while in Greece EBIT was increased by 7,4%.
Finally, regarding the Group's dividend policy the Management decided to approve a dividend of EUR 0.10 per share for year 2004, versus a dividend of EUR 0.07 per share for year 2003.
In the following weeks, Sarantis Group's Management plans to announce its guidance regarding the financial years 2005-2007.