Kleemann Hellas group closed the ninth month period of the current financial year with a significant increase in sales and profitability at both consolidated and parent company level.
More specifically, consolidated turnover came up to 77,1 m. euros posting an 26,2% increase compared to 9 month period of the previous year.
Earnings before interest, taxes, depreciation and amortizations (EBITDA) of the group amounted to 14,5 m. euros presenting a 14,9% increase. Consolidated profits before taxes and minority rights amounted to 12,4 m. euros presenting an increase of 11,1% in comparison with the equivalent period of last year, while consolidated profits after tax and minority rights came up to 8,3 m. euros (4,3% increase).
At parent company level, turnover reached 69,2 m. euros, presenting an increase by 25,8%, while EBITDA amounted to 11.6 m. euros for the ninth-month period of 2007, presenting an increase by 23,8%. Profits before taxes increased in the examined period by 19,2% and amounted to 10,1 m. euros, while profits after tax of parent company came up to 7,6 m. euros, increased by 10,3%.
Total Assets of the Group, for the current period, exceeded 123,4 m. euros, against 105,8 m. euros on 31/12/2006 and correspondingly, total assets of the company exceeded 108,3 m. euros against 93 m. euros Group's Equity Capital on 30/09/2007 came up to 75,8 m. euros against 70,2 m. euros on 31/12/2006 and correspondingly, Company's Equity Capital came up to 67,3 m. euros against 63,5 m. euros.
Management of Kleemann Hellas pinpoints that the process of the nine-month reassures the appraisals for the Group s organic development. The significant enforcement at the financial figures of both the Group and the Parent Company is due to the upward trend of the Greek market, the evolution of subsidiary companies, the further export growth of the listed company, and also the launching of new products in the market. Furthermore, the rapid growth of the examined period took place in a very competitive environment, in concern the market that the company operates, at the same time that great increases occurred in the cost of raw materials.
For the end of the current year, the management of Kleemann estimates that final economic figures will be greater that that initially expected. Initial estimates put sales of 85,5 m. euros for the parent company, increased by 12,3% compared to 2006, and profits before taxes of 12,3 m. euros against 11,1 m. euros in 2006. In addition, regarding the group, the management initially expected sales of 97,8 m. euros approximately, against 85,0 m. euros in 2006 and profits before taxes of 15,9 m. euros against 15,0 m. euros of the previous year.
Bonded loans
It must be noted the company has signed two bonded loans, totally valued 19.000.000 euros. The first of them, with a maturity of 5 years, has total value 10.000.000 euros and has been raised from Piraeus Bank S.A., while the second, with a maturity of 7 years, has total value 9.000.000 euros and has been raised from EFG Eurobank Ergasias S.A..
The above actions took place as a result of Annual General Meeting's decision of Kleemann (18/06/2007) concerning the issue of one or more common bonded loans, totally valued up to 25.000.000 euros, with aim the restructuring of company's present bank debt and the financing of its development program.
Group KLEEMANN is activated and holds a leading position in the market of elevators. Parent Company was incorporated in 1983 and it is listed in the Athens Stock Exchange since 1999. The group employs more than 900 employees both in Greece and abroad and develops its manufacturing and trading activation in building installations that exceed 70.000 m2.
More information regarding the Group will be found in its web site, at www.kleemann.gr address.