Consolidated sales, operating profits and net profits of the S&B Group of companies showed increases of 16.6%, 16.7% and 21.9% respectively for the January-September period of 2007 compared to the corresponding nine months of 2006. More specifically, the consolidated sales of the Group went up to euro 402.62 million (from euro 345.38 million) and the operating profit reached euro 38.47 million (from euro 32.98 million), while the net profit (after tax) went up to euro 23.72 million (from euro 19.46 million).
Financial Highlights of S&B Group's nine months of 2007
Sales: euro 402.62 million (compared to euro 345.38 million in the nine months of 2006)
Gross profit: euro 103.60 million (compared to euro 88.44 million in the nine months of 2006)
Earnings before tax, financial and investing income: euro 39.66 million (compared to euro 34.33 million in the nine months of 2006)
EBITDA: euro 58,12 million (compared to euro 52,92 million in the nine months of 2006)
Profit before tax: euro 33.75 million (compared to euro 28.47 million in the nine months of 2006)
Net profit: euro 23.72 million (compared to euro 19.46 million in the nine months of 2006)
Profit after tax and minority interests: euro 22.12 million (compared to euro 18.16 million in the nine months of 2006)
In the Industrial Minerals Activities (which represent about 78% of Group sales), the nine months sales were increased by 17.8%, up to euro 312.58 million (versus euro 265.31 million in the corresponding period of 2006). Similarly, the operating profit went up by 17.6%, reaching euro 32.99 million (from euro 28.05 million). This robust sales growth along with strong operating profitability is the result of healthy organic growth (by 10.5%) complemented by the incorporation (since May 1, 2007) of CEBO's acquired share (50%) and by the, for the first time, proportional consolidation of accounts of the continuous casting fluxes activities (Stollberg) in Asia (China and Korea).
In the Commercial Activities (through the subsidiaries Motodynamics S.A. and Ergotrak S.A.), total sales and operating profits were increased by 12.6% and 10.4% respectively, in the January-September period of 2007 over the same period in the previous year. More specifically, total sales of these activities have risen to euro 90.30 million (from euro 80.23 million) and operating profits to euro 5.02 million (from euro 4.54 million).
S&B's Chief Executive Officer, Mr. Efthimios Vidalis, commenting on the financial results of the S&B Group for the nine month period of 2007 noted: "The good nine month results confirm our expectations for steady sales and profit growth within 2007. In recent months, however, we are observing significant deterioration in the macro economic factors related to ocean freight costs and the USD / Euro exchange rate which influence the Group's results".
The relevant financial statements will be published in the Press and will be uploaded in the Company's website www.sandb.com on Friday, November 16, 2007.