- Consolidated Turnover (Sales) amounted to 559.6 million EUR in First Semester 2007, from 489.8 million EUR in 2006 showing an increase by 14.2%. For "ALFA-BETA" standalone Turnover (Sales) amounted to 545.1 million EUR from 477.5 million EUR in 2006, an increase also by 14.2%.
- Consolidated Profit before Tax was significantly improved in comparison to First Semester 2006, and amounted to 18.5 million EUR from 9.0 million EUR in 2006. For "ALFA-BETA" standalone Profit before Tax amounted to 17.3 million EUR compared to 8.3 million EUR in First Semester 2006.
Our business in First Semester 2007:
During First Semester 2007, "ALFA-BETA" continued its dynamic commercial policy reinforcing its value-for-money concept for its products.
Regarding Company's organic expansion, during First Semester 2007, two new company-operated stores were inaugurated, an AB Food Market in the Athens' center, at the area of Neapoli, Exarchia and an Alfa- Beta VASSILOPOULOS at Pagrati.
In parallel with the new company-operated stores, two new franchise stores were added, two ΑΒ Food Market. Thus, at the end of the period, the Group's sales network numbered 151 stores of which 110 are company operated retail stores, 31 franchise stores and 10 are wholesale stores operating under the banner ENA Cash-and-Carry.
FIRST SEMESTER YEAR 2007 RESULTS
The increase by 14.2% of Consolidated Turnover (Sales) during the first Semester of 2007, is attributed to the company's dynamic commercial policy, to the continuous efforts of the Company for upgrading its stores network as well as to the contribution of new stores that were opened after the first Semester of 2006.
Consolidated Gross Profit compared to the previous year corresponding period increased by 18.4%, an increase higher than that of sales that confirms the success of the commercial policy as well as the effective inventory management of the group.
Consolidated Operating Expenses increased by 11.5%, an increase which is lower than that of sales and of gross profit, thus reflecting the Company's efforts to control operating costs and to strengthen its competitiveness.
Consolidated Profit before Tax, Financial, Investing Activities, Depreciation and Amortization (EBITDA) showed an increase by 52.2% due to the increase in sales and gross profit while controlling operating expenses.
All the aforementioned reasons lead to significant increases in Consolidated Operating Profit, in Consolidated Profit before Tax as well as in Consolidated Profit after Tax.
2007 OUTLOOK
For 2007, "ALFA-BETA" VASSILOPOULOS plans an acceleration of its opening program. It will add 15 new stores to its network, including those of the franchise network, extending it to 163 stores.
"ALFA-BETA" VASSILOPOULOS S.A.
"ALFA-BETA" VASSILOPOULOS S.A., is a food retail company established in 1969 and member of the Belgian Delhaize Group since 1992. At the end of 2006, the group "ALFA-BETA" operated 148 stores (108 company operated food retail sales points, 10 Cash-and-Carry stores, & 30 franchising stores) and employed 7,209 people. In 2006, Consolidated Turnover amounted to EUR 1,030.2 million and Consolidated Net Profit before tax to EUR 30.4 million. "ALFA-BETA" VASSILOPOULOS S.A. is listed on the Athens Stock Exchange (BASIK) since 1990.