SIGNIFICANT INCREASE IN ALL KEY FIGURES DURING FIRST NINE MONTHS 2007
- Consolidated Turnover (Sales) amounted to 838.5 million EUR in first nine months 2007 from 738.8 million EUR in 2006 showing an increase by 13.5%. For "ALFA-BETA" standalone Turnover (Sales) amounted to 814.3 million EUR from 717.3 million EUR in 2006, an increase also by 13.5%.
- Consolidated Profit before Tax was significantly improved in comparison to First nine months of 2006, and amounted to 30.6 million EUR from 16.5 million EUR in 2006. For "ALFA-BETA" standalone Profit before Tax amounted to 27.7 million EUR compared to 14.4 million EUR in first nine months of 2006.
- Consolidated Profit after Tax was also considerably improved and reached 22.5 million EUR from 10.4 million EUR in first nine months of 2006. For ?ALFA-BETA? standalone Profit after Tax amounted to 20.4 million EUR compared to 9.2 million EUR in 2006.
Our business in Q3 2007: During Q3 2007, "ALFA-BETA" continued its dynamic commercial policy reinforcing its value-for-money concept and improving the relation between quality and price of its products.
Regarding Company's organic expansion, during Q3 2007, a new company-operated store was inaugurated, in Mets, Athens, with a sales area of 1,600 sq,m. In parallel, three new AB Shop and Go franchise stores were added, in Arta, Rhodos and Messinia. Thus, at the end of the period, the Group?s sales network numbered 154 stores of which 111 are company operated retail stores, 33 franchise stores and 10 are wholesale stores operating under the banner ENA Cash-and-Carry.
Q3 2007 RESULTS
"ALFA-BETA" VASSILOPOULOS S.A. 01.01-30.09 2007 01.01-30.09 2006 Change Consolidated Results (in thousand EUR) Turnover (Sales) 838.548 738.832 13,5%
Gross Profit 185.956 158.048 17,7%
On Sales 22,2% 21,4%
Operating Expenses 158.274 142.374 11,2%
On Sales 18,9% 19,3%
Profit before Tax, Financial, Investing Activities, Depreciation and Amortization (EBITDA) 45.422 31.502 44,2%
On Sales 5,4% 4,3%
Operating Profit 31.512 18.287 72,3%
On Sales 3,8% 2,5%
Profit before Tax 30.582 16.532 85,0%
On Sales 3,6% 2,2%
Profit after Tax 22.504 10.359 117,2%
Profit after Tax & Minority Rights 22.503 10.359 117,2%
The increase by 13.5% of Consolidated Turnover (Sales) during the first nine months of 2007 is attributed to the company's dynamic commercial policy, to the continuous efforts of the Company for upgrading its stores network as well as to the contribution of new stores that were opened after Q3 of 2006.
Consolidated Gross Profit compared to the previous year corresponding period increased by 17.7%, an increase higher than that of sales that confirms the success of the commercial policy as well as the effective inventory management of the group.
Consolidated Operating Expenses increased by 11.2%, an increase which is lower than that of sales and of gross profit, thus reflecting the Company's efforts to control operating costs and to strengthen its competitiveness.
Consolidated Profit before Tax, Financial, Investing Activities, Depreciation and Amortization (EBITDA) showed an increase by 44.2% due to the increase in sales and gross profit while controlling operating expenses.
All the aforementioned reasons lead to significant increases in Consolidated Operating Profit, in Consolidated Profit before Tax as well as in Consolidated Profit after Tax.
OUTLOOK TILL THE YEAR END
For the remaining period of 2007, "ALFA-BETA" VASSILOPOULOS plans an acceleration of its opening program. It will add 8 new stores to its existing network, including those of the franchise network, extending it to 162 stores.
"ALFA-BETA" VASSILOPOULOS S.A.
"ALFA-BETA" VASSILOPOULOS S.A., is a food retail company established in 1969 and member of the Belgian Delhaize Group since 1992. At the end of 2006, the group "ALFA-BETA" operated 148 stores (108 company operated food retail sales points, 10 Cash-and-Carry stores, & 30 franchising stores) and employed 7,209 people. In 2006, Consolidated Turnover amounted to EUR 1,030.2 million and Consolidated Net Profit before tax to EUR 30.4 million. "ALFA-BETA" VASSILOPOULOS S.A. is listed on the Athens Stock Exchange (BASIK) since 1990.