During the 3rd quarter of the current fiscal year (2006) the developing course of the company STELIOS KANAKIS S.A. continued, resulting in a general improvement of its financial data for the 9month period 2006.
From the interim financial reports of the period January-September 2006, the financial data of the company STELIOS KANAKIS S.A., which is actively involved in the importation and commercial distribution of raw materials of pastry-making, bakery and ice-cream have as follows:
- he turnover ascended to Euro 10,796 million presenting an increase of 8% compared to Euro 10,001 million of the corresponding last year''s period (2005).
- The profits before taxes, interests and depreciations (EBITDA) reinforced at 15,40% and arose to Euro 1,332 millions from Euro 1,155 millions.
- The profits before taxes (ΕΒΤ) arose to Euro 1,130 millions having an increase of 17,53% compared to Euro 961 thousands of the corresponding last year''s period.
- The profits after taxes (ΕΑΤ), which are proportional to the shareholders reinforced significantly at rate 21,25% arising to Euro 782,663 thousands from 645,453 thousands of the corresponding last year''s period.
The company''s operation was characterized, for once more, by positive financial flows, that demonstrate the ability of the Company to generate value to its shareholders. These financial results should be highly appreciated, taking into consideration that they were achieved during the period of the completion of the company''s investing plan, concerning the construction of the new branch of the company (storage, distribution and promotion center) in the Industrial Zone (VIPE) of Sindos (Thessaloniki). More specifically the company presented positive cash flows from functional activities at the amount of 1,581 million Euro (improved from 1,413 million Euro, of the first semester 2006).
Third Quarter 2006
More specifically, regarding the third quarter of the current fiscal year (01.07-30.09.2006) the company obtained the continuance of the same (comparing to the previous quarters) rate of development.
During the 3rd quarter the profits before taxes reinforced at 23,66% arising to Euro335,904 thousands and the net profits at 22,96% arising to Euro 230,662 thousands comparing to the corresponding quarter of the fiscal year 2005.
At the rate of 33,40% the proportion Liabilities/ Capital and Reserves
At the end of September 2006 the bank lending reduced at 754 thousands Euro comparing to 1,230 million at the end of the year 2005. The Capital and Reserves of the company arose to 11,673 million Euro. As a result the bank lending constitutes now only 6,5% of the company''s Capital and Reserves. The proportion Total of Liabilities/ Capital and Reserves was formed at 33,40%, which is between the lowest among all listed companies in the Athens Stock Exchange.