171m. euros Turnover - 51m. euros Net Profit after taxes
The Board of Directors of MICHANIKI Group of Companies is pleased to announce a profitability growth the first nine months of 2007 and notifies the following:
At a Group Level, MICHANIKI Group consolidated turnover increased by 43.01% to 171.66 million euros versus 120.03 million euros, the year before. Profit before taxes grew 199,99% to 74,11 million euros, from 24.70 million euros in 2006.
Consolidated EBITDA increased by 179.64% to 79.67 million euros from 28.49 million euros in 2006. The operational margins (EBITDA margin) presented an increase to 46.41% from 23,73% that presented the year before.
As regards the construction sector, the backlog of unexecuted public and private projects amounts to 475 mil. euros. Net margins before taxes have been shaped to 15%. The Board of Directors confirms that will continue the strategy of the selective participation in projects that are being announced, having as purpose profits? capitalization.
The consolidated net profit after taxes and after minority's incapacitation grew 185% to 55,74 million euros versus to 19.54 euros the year before.
At a parent company level MICHANIKI SA turnover increased -in the first nine months of 2007-by 131.1% to 103.78 million euros versus to 44.90 million euros during the same period the year before.
MICHANIKI S.A. profit before taxes increased by 181% to 23.77 million euros versus to 8,45 million euros in 2006.
EBITDA stood at 19.53 million euros in 9M 2007, from 9.00 million in 9M 2006, increased by 130.76%. The operational margins (EBITDA margin) presented a decrease to 18.81% from 20.04% that presented the year before.
MICHANIKI S.A. net profit increased by 184.19% to 18.46 million euros, from 6.49 million euros the year before.
The release of the abovementioned financial data will be implemented on Tuesday 27 November, 2007.