In the first nine months of 2007, consolidated sales (pro forma) of Vivartia Group have increased by 16,2% compared to the corresponding period of 2006. Therefore, the total Vivartia Group sales have increased to Euro 821,5 mil. from Euro 707,1 mil. including the results from the bakery and confectionary division for the entire first nine months of 2006. It should be noted that the published results are not directly comparable to the corresponding period of 2006, which include only one month of activity of the bakery and confectionary division - former Chipita.
Vivartia Group earnings before interest, tax, depreciation and amortization (EBITDA) have increased by 7,5% to Euro 109,2 mil. from Euro 101,6 mil. compared to the corresponding period of 2006.
Vivartia Group earnings before taxes have decreased by 16,8% to Euro 53,7 mil. from Euro 64,5 mil.
Finally, net profits of Vivartia Group after minority rights decreased by 25,4% to Euro 28,1mil. from Euro 37,7mil.
It is noted that the decrease in earnings before tax as well as the decrease of net profits derive from increased financial expenses which includes the cost of closing the existing positions of derivative contracts of Euro 440 mil following the decision of the new Board of Directors.