ELECTRONIKI ATHINON S.A.
Press Release
Today, Electroniki Athinon S.A. Group
presented the strategy for 2007-2008 at the Association of Greek Institutional Investors.
The company's management announced its strategy for the next three years, which includes a ? 25 million investment plan. Specifically, the company's Management aims at establishing Electroniki Athinon's presence at a European level and at maintaining its leading position in distributing electrical and electronic devices in Greece. The Management's objective also includes stronger sales by respectively increasing the market share to 19% from 15% today.
The basic drivers for achieving the aforementioned objectives are as follows:
(i)Further expansion of the store network in Greece. In this context, significant is the role of the Electroniki Athinon's Superstore in Cholargos, as it is expected to contribute positively both to turnover and the group's profitability and also the new Superstore on Syggrou Ave., which will open before Christmas. Moreover, the opening of three new Megastores and one large Sarafidis store has been planned for 2008. Electoniki Athinon's plans include the opening of one new Sarafidis store each year in the Northern Greece region.
(ii)Expansion of the store network in existing markets where the Group operates. Following the particularly successful track record of the first store in Serbia, the plan includes the operation of a second store within 2008.
(iii)Further development in the Balkans. Specifically, negotiations are already being carried out for areas in the Bulgarian, Albanian and FYROM markets, however no deal has yet been reached, therefore there is no announcement in regard to the matter. The market of Romania is also under examination.
(iv)Exploitation of the opportunities rising from the increased penetration of Broadband and generally digital products in Greece. Due to the above-mentioned activities, the company expects revenues of euros 245 million positing an increase of 35% in the financial period of 2007-2008, with EBITDA amounting to euros 20 million implying an increase of 19% and earnings after taxes and minority interest to euros 8.5 million, +15%.
The company's management announced its strategy for the next three years, which includes a ? 25 million investment plan. Specifically, the company's Management aims at establishing Electroniki Athinon's presence at a European level and at maintaining its leading position in distributing electrical and electronic devices in Greece. The Management's objective also includes stronger sales by respectively increasing the market share to 19% from 15% today.
The basic drivers for achieving the aforementioned objectives are as follows:
(i)Further expansion of the store network in Greece. In this context, significant is the role of the Electroniki Athinon's Superstore in Cholargos, as it is expected to contribute positively both to turnover and the group's profitability and also the new Superstore on Syggrou Ave., which will open before Christmas. Moreover, the opening of three new Megastores and one large Sarafidis store has been planned for 2008. Electoniki Athinon's plans include the opening of one new Sarafidis store each year in the Northern Greece region.
(ii)Expansion of the store network in existing markets where the Group operates. Following the particularly successful track record of the first store in Serbia, the plan includes the operation of a second store within 2008.
(iii)Further development in the Balkans. Specifically, negotiations are already being carried out for areas in the Bulgarian, Albanian and FYROM markets, however no deal has yet been reached, therefore there is no announcement in regard to the matter. The market of Romania is also under examination.
(iv)Exploitation of the opportunities rising from the increased penetration of Broadband and generally digital products in Greece. Due to the above-mentioned activities, the company expects revenues of euros 245 million positing an increase of 35% in the financial period of 2007-2008, with EBITDA amounting to euros 20 million implying an increase of 19% and earnings after taxes and minority interest to euros 8.5 million, +15%.