ΑΛΦΑ-ΒΗΤΑ ΒΑΣΙΛΟΠΟΥΛΟΣ A.E.
Significant increase in all key figures during Q1 2007
- Consolidated Turnover (Sales) increased by 15.3%, from 235.8 million EUR in Q1 2006 to 271.9 million EUR in Q1 2007, while for ALFA-BETA standalone Turnover (Sales) amounted to 265.8 million EUR from 230.5 million EUR in 2006, an increase also by 15.3%.
- Consolidated Profit before Tax was significantly improved in comparison to Q1 2006, and amounted to 6.4 million EUR, from 3.0 million EUR in Q1 2006. For ALFA-BETA standalone Profit before Tax amounted to 6.1 million EUR compared to 3.0 million EUR in Q1 2006.
Our business in Q1 2007:
During Q1 2007, ALFA-BETA continued its dynamic commercial policy reinforcing its value-for-money concept for its products.
Regarding Company''s organic expansion, during Q1 2007, a new company-operated AB Food Market was inaugurated in the Athens'' center, at the area of Neapoli, Exarchia. It is the second company-operated store under this banner that is already used in larger franchise stores. The main characteristics of this store format are proximity, convenience through self-service and assisted self-service systems, aiming to satisfy consumers'' every day needs. This new store has a sales'' area of 950sq.m., a parking of 20 spaces, 6 scanning checkouts and employs 49 people.
In parallel with the new company-operated store, two new franchise stores were opened, two ΑΒ Food Market, the first in Argostoli, Kefalonia and the other in Skala, Patmos. At the end of the period, the Group''s sales network numbered 151 stores of which 109 are company operated retail stores, 32 are franchise stores and 10 are wholesale stores operating under the banner ENA Cash-and-Carry.
FIRST QUARTER 2007 RESULTS
In the first quarter of 2007, Consolidated Turnover (Sales) reached 271.9 million EUR, an increase by 15.3% due to company''s dynamic commercial policy and its investment in quality and on strict conditions of hygiene and food safety.
Consolidated Gross Profit increased by 16.1% from 48.6 million EUR in Q1 2006 to 56.5 million EUR in Q1 2007. This increase, higher than that of sales, confirms the success of the commercial policy as well as the effective inventory management of the group.
Consolidated Operating Expenses increased by 9.6% from 46.2 million EUR in Q1 2006 to 50.6 million EUR in Q1 2007. This increase, which is lower than that of sales and of gross profit, reflects the Company''s efforts to control operating costs and to strengthen its competitiveness.
Consolidated Profit before Tax, Financial, Investing Activities, Depreciation and Amortization (EBITDA) amounted to 11.2 million EUR in Q1 2007 from 7.4 million EUR in 2006, showing an increase by 52.7% due to the increase in sales and gross profit while controlling operating expenses.
For the same reason Consolidated Operating Profit was increased to 6.8 million EUR from 3.3 million EUR in Q1 2006.
Consolidated Profit before Tax amounted to 6.4 million EUR from 3.0 million EUR in 2006 and Consolidated Profit after Tax reached 4.8 million EUR against 1.5 million EUR in Q1 2006.
2007 OUTLOOK
For 2007, ALFA-BETA VASSILOPOULOS plans an acceleration of its opening program. It will add 19 new stores to its network, including those of the franchise network, extending it to 167 stores.
- Consolidated Profit before Tax was significantly improved in comparison to Q1 2006, and amounted to 6.4 million EUR, from 3.0 million EUR in Q1 2006. For ALFA-BETA standalone Profit before Tax amounted to 6.1 million EUR compared to 3.0 million EUR in Q1 2006.
Our business in Q1 2007:
During Q1 2007, ALFA-BETA continued its dynamic commercial policy reinforcing its value-for-money concept for its products.
Regarding Company''s organic expansion, during Q1 2007, a new company-operated AB Food Market was inaugurated in the Athens'' center, at the area of Neapoli, Exarchia. It is the second company-operated store under this banner that is already used in larger franchise stores. The main characteristics of this store format are proximity, convenience through self-service and assisted self-service systems, aiming to satisfy consumers'' every day needs. This new store has a sales'' area of 950sq.m., a parking of 20 spaces, 6 scanning checkouts and employs 49 people.
In parallel with the new company-operated store, two new franchise stores were opened, two ΑΒ Food Market, the first in Argostoli, Kefalonia and the other in Skala, Patmos. At the end of the period, the Group''s sales network numbered 151 stores of which 109 are company operated retail stores, 32 are franchise stores and 10 are wholesale stores operating under the banner ENA Cash-and-Carry.
FIRST QUARTER 2007 RESULTS
In the first quarter of 2007, Consolidated Turnover (Sales) reached 271.9 million EUR, an increase by 15.3% due to company''s dynamic commercial policy and its investment in quality and on strict conditions of hygiene and food safety.
Consolidated Gross Profit increased by 16.1% from 48.6 million EUR in Q1 2006 to 56.5 million EUR in Q1 2007. This increase, higher than that of sales, confirms the success of the commercial policy as well as the effective inventory management of the group.
Consolidated Operating Expenses increased by 9.6% from 46.2 million EUR in Q1 2006 to 50.6 million EUR in Q1 2007. This increase, which is lower than that of sales and of gross profit, reflects the Company''s efforts to control operating costs and to strengthen its competitiveness.
Consolidated Profit before Tax, Financial, Investing Activities, Depreciation and Amortization (EBITDA) amounted to 11.2 million EUR in Q1 2007 from 7.4 million EUR in 2006, showing an increase by 52.7% due to the increase in sales and gross profit while controlling operating expenses.
For the same reason Consolidated Operating Profit was increased to 6.8 million EUR from 3.3 million EUR in Q1 2006.
Consolidated Profit before Tax amounted to 6.4 million EUR from 3.0 million EUR in 2006 and Consolidated Profit after Tax reached 4.8 million EUR against 1.5 million EUR in Q1 2006.
2007 OUTLOOK
For 2007, ALFA-BETA VASSILOPOULOS plans an acceleration of its opening program. It will add 19 new stores to its network, including those of the franchise network, extending it to 167 stores.