NIREUS S.A.

1st Quarter 2007 Results - The Rising Course Continues

Group financials have continued to display a significant rise in 1st Quarter 2007 in relation to 1st Quarter 2006.
More specifically:
- Revenues rose by 24,5% to Euro 41,68 mil. from Euro 33,47 mil. in last year's 1st Quarter.
- Consolidated EBITDA posted an increase of 43,2% to Euro 8,32 mil. versus Euro 5,81 mil. for 1st Q 2006.
- Consolidated Pre-Tax Profits, have marked a 65,1% rise to Euro 5,07 mil. versus Euro 3,07 mil. for 1st Q 2006.
- After Tax & Minority Profits rose higher, at Euro 2,25 mil. versus Euro 2,18 mil. for 1st Q 2006, posting a 3,4% increase. It should be noted that After Tax & Minority Profits for 1st Q 2007 should have been higher if it weren't burdened with a one-off tax charge of Euro 424.600 for non tax-audited previous fiscal years, now closed for good. In that case, After Tax & Minority Profits would have reach Euro 2,67 mil., an increase of 22,8% compared to last year's 1st Quarter.
- The above, consolidated financial figures include KEGO S.A's results only for March 2007.
On a parent company level, the results for 1st Q 2007 were as follows:
Revenues: Euro 37,6 (+25,2%), EBITDA: Euro 5.71 (+18,7%), Pre-Tax Profits: Euro 3.21 (+15,5%), After Tax Profits: Euro 2.1.
Company after tax profits, in addition to regular tax have also been burdened with a one-off tax charge of Euro424.600 for non tax-audited previous fiscal years, now closed for good. Due to the said one-off tax charge, company after tax profits show a slight decrease by -5,9%. If company after tax profits hasn't been burdened with this one-of tax charge, it would have posted a 13% increase.