ΣΤΕΛΙΟΣ ΚΑΝΑΚΗΣ Α.Β.Ε.Ε.
Financial Results of 2006: Significant increase of net profits
STELIOS KANAKIS Anonymous Industrial and Commercial Company, which is activated in the distribution of raw materials of pastry-making, bakery and ice-cream, presented a considerable net profit before taxes increase of 18,85% and a sales increase of 7,2% at the end of the financial year 2006. This was the fifth continuous year during which the company increased its financial position, following the listing of its shares in the Athens Stock Exchange on July 2002.
The year 2006 was another year of development and increasing dynamics, during which STELIOS KANAKIS SA:
-increased its share in the market trading of raw materials of pastry-making, bakery and ice-cream,
-enriched its variety of products with new products from the already existing suppliers and with products from new suppliers by entering into new contractual agreements with internationally recognized firms,
-expanded through exports in new geographical markets and
-completed its investments of an amount of 1,034 million euros without burdening the economical position and the operating results of the company.
More specifically during the year of 2006 and according to the Annual Financial Statements for the period from the 1st of January to the 31st of December 2006 (financial year 2006):
- The annual turnover arose to Euro15,28 millions, presenting an increase of 7,2% compared to Euro 14,252 millions for 2005.
- The gross profits arose to Euro 4,746 millions, presenting an increase of 10,3% compared to Euro 4,302 millions for 2005.
- The profits before taxes, financing, investing results and depreciations (EBITDA) arose to Euro 2,134 millions, presenting an increase of 14,17%, compared to Euro1,869 million for the previous year.
- The profits before taxes arose to Euro1,792 million, presenting an increase of 18,8%, from Euro1,508 million for 2005.
- The profits after taxes increased significantly by 29,11% and arose to Euro 1,209 million from Euro 936.000 for the precedent year. The profits per stock arose to 0,161 euros, presenting an increase of 29%, from 0,125 euros for 2005.
The net position of the company arose to Euro12,1 million and the liabilities sum did not exceed 4,55 million euros, including short term banking obligations of 700.000 thousands euros.
For another financial year the operation of the company was characterized by positive cash inflows, an element that proves and demonstrates the ability of the company to procure cash and to finance its development and its commercial policy. In particular the company presented positive operational cash flows of 2,489 million euros and as a result, the available funds at the end of the financial year 2006 arose to 563.000 euros from 84.000 euros on the December 31st 2005.
The company s management will propose to the General Meeting of the Shareholders the distribution of dividend of 0,07 euros per share , which results to a dividend return of 2,92%, compared to the share price on 9.3.2007 (2,4 Euros).
The year 2006 was another year of development and increasing dynamics, during which STELIOS KANAKIS SA:
-increased its share in the market trading of raw materials of pastry-making, bakery and ice-cream,
-enriched its variety of products with new products from the already existing suppliers and with products from new suppliers by entering into new contractual agreements with internationally recognized firms,
-expanded through exports in new geographical markets and
-completed its investments of an amount of 1,034 million euros without burdening the economical position and the operating results of the company.
More specifically during the year of 2006 and according to the Annual Financial Statements for the period from the 1st of January to the 31st of December 2006 (financial year 2006):
- The annual turnover arose to Euro15,28 millions, presenting an increase of 7,2% compared to Euro 14,252 millions for 2005.
- The gross profits arose to Euro 4,746 millions, presenting an increase of 10,3% compared to Euro 4,302 millions for 2005.
- The profits before taxes, financing, investing results and depreciations (EBITDA) arose to Euro 2,134 millions, presenting an increase of 14,17%, compared to Euro1,869 million for the previous year.
- The profits before taxes arose to Euro1,792 million, presenting an increase of 18,8%, from Euro1,508 million for 2005.
- The profits after taxes increased significantly by 29,11% and arose to Euro 1,209 million from Euro 936.000 for the precedent year. The profits per stock arose to 0,161 euros, presenting an increase of 29%, from 0,125 euros for 2005.
The net position of the company arose to Euro12,1 million and the liabilities sum did not exceed 4,55 million euros, including short term banking obligations of 700.000 thousands euros.
For another financial year the operation of the company was characterized by positive cash inflows, an element that proves and demonstrates the ability of the company to procure cash and to finance its development and its commercial policy. In particular the company presented positive operational cash flows of 2,489 million euros and as a result, the available funds at the end of the financial year 2006 arose to 563.000 euros from 84.000 euros on the December 31st 2005.
The company s management will propose to the General Meeting of the Shareholders the distribution of dividend of 0,07 euros per share , which results to a dividend return of 2,92%, compared to the share price on 9.3.2007 (2,4 Euros).