ASTIR PALACE VOULIAGMENI S.A.
2007 six month results
Astir Palace Vouliagmeni S.A. announces highlights of its 2007 six month results as follows: Total revenues of Euro10,989 thousand represent an increase of 5.3% period on period Vs Euro10,429 thousand in 2006. This development reflects the improvement of the occupancy levels as well as revenues per available room, in comparison to the same period in 2006, by 18.7% and 53.9% respectively. EBITDA results before reorganization costs (employees that withdrew from the group insurance contract) stood at profit of Euro182 thousand Vs profit of Euro1.134 thousand in 2006 mainly due to the increased operational costs. Net earnings after interest, depreciation, amortization and reorganization costs stood at loss of Euro5.3 mil against loss of Euro13.5 mil in the first half of 2006 which had included Euro9 mil of the employee voluntary retirement program cost.