FOLLI FOLLIE S.A.
Nine month financial results.
Consolidated sales at Euro 260.0 million, +20%.
Consolidated sales of HELLENIC DUTY FREE SHOPS S.A. reached Euro 260.0 million in the first nine months of 2007, from Euro 217.4 million in the respective period of 2006, posting an increase of 19.6%. Net earnings after taxes of the Group reached Euro 34.0 million while earnings before taxes reached Euro 46.4 million. Consolidated EBITDA reached Euro 52.8 million while the respective margin reached 20.3%. Finally, consolidated net earnings per share reached Euro 0.646.
Commenting on the financial results, the President of the Company's BoD, Mr. George Koutsolioutsos, mentioned that "The financial results of the first nine months are characterized by the sales growth of all the companies of the Group, despite the accession of Bulgaria and Romania in the EU that subsequently affected negatively the Duty Free sales of the parent Company, as well as the absence of duty free fuel sales", while referring to the recent acquisition, he mentioned that "The acquisition of ELMEC SPORT is expected to strengthen even more our presence in the retail sector, underlying the important role of the Group in the Greek market."
Sales of the subsidiary HELLENIC DISTRIBUTIONS S.A. reached Euro 58.9 million and EBITDA reached Euro 3.0 million from Euro 1.8 million in the respective period of 2006, while it should be noted that since the beginning of August of 2006 its financial results include the financials of the acquired LINKS LONDON Ltd. The respective figures for LINKS are sales at Euro 39.9 million and EBITDA at Euro 1.1 million for the first nine months of 2007.
Concluding, sales of the parent Company HDFS amounted to Euro 204.0 million from Euro 194.4 million, posing an increase of 4.9%, while EBITDA reached Euro 49.8 million and net earnings Euro 35.9 million.
Consolidated sales of HELLENIC DUTY FREE SHOPS S.A. reached Euro 260.0 million in the first nine months of 2007, from Euro 217.4 million in the respective period of 2006, posting an increase of 19.6%. Net earnings after taxes of the Group reached Euro 34.0 million while earnings before taxes reached Euro 46.4 million. Consolidated EBITDA reached Euro 52.8 million while the respective margin reached 20.3%. Finally, consolidated net earnings per share reached Euro 0.646.
Commenting on the financial results, the President of the Company's BoD, Mr. George Koutsolioutsos, mentioned that "The financial results of the first nine months are characterized by the sales growth of all the companies of the Group, despite the accession of Bulgaria and Romania in the EU that subsequently affected negatively the Duty Free sales of the parent Company, as well as the absence of duty free fuel sales", while referring to the recent acquisition, he mentioned that "The acquisition of ELMEC SPORT is expected to strengthen even more our presence in the retail sector, underlying the important role of the Group in the Greek market."
Sales of the subsidiary HELLENIC DISTRIBUTIONS S.A. reached Euro 58.9 million and EBITDA reached Euro 3.0 million from Euro 1.8 million in the respective period of 2006, while it should be noted that since the beginning of August of 2006 its financial results include the financials of the acquired LINKS LONDON Ltd. The respective figures for LINKS are sales at Euro 39.9 million and EBITDA at Euro 1.1 million for the first nine months of 2007.
Concluding, sales of the parent Company HDFS amounted to Euro 204.0 million from Euro 194.4 million, posing an increase of 4.9%, while EBITDA reached Euro 49.8 million and net earnings Euro 35.9 million.