Most important elements of the first semester
- The consolidated turnover increased by 33,13% to 102.730 million euros versus to 77.165 million euros the year before.
- Consolidated EBIDTA increased by 70,14% to 28.147 million euros versus to 16.543 million euros the year before.
- Consolidated profits after taxes grew 28,76% to16.820 million euros, from 13.063 million euros in 2006.
The Group of directors? stated that is satisfied with the results and the performance of the Group of companies of Michanichi at the first semester of the current year. According to the current data, it is considered that the annual results of 2007 will be superior to the forecasts.
Review
At a Group level the consolidate turnover during the first semester of 2007 came up to 102,73 million euros versus to 77,16 million euros during the corresponding period of 2006 increased at 33,13%.
The profits before taxes amounted in 22,46 mill. of Euros versus to 16,07 million of Euros the corresponding last year?s period; presenting increase of 39,73%.
The consolidated profits before taxes, interest and debt amortizations (EBITDA) came up to 28,14 million of Euros, versus to 16,54 million of Euros at the first semester of 2006, presenting an increase of 70,14%. The equivalent functional margins (EBITDA margin) came up to 27,18% versus to 44% the corresponding semester of 2006.
Specifically, in the manufacturing sector are executed a series of public and private works, and the value of unexecuted balance came up to 518,9 million of Euros. The net -before taxes- margins have been shaped in the 17,46%. The company estimates that the abovementioned margin is tenable with forecasts for potential small reduction up to 1,5% with the beginning of new works.
The Group of Directors of the company will continue the strategy of selective attendance of work that are announced taking into consideration the achievement of corresponding margins of profit.
The consolidated net profits, after taxes and after the abstraction of rights of the minority, showed increase of 27,18% and came up to 16,32 millions of Euros, versus to 12,83 millions of Euros the corresponding period of 2006.
At a parent company level, MICHANIKI marked, at the first semester of 2007, turnover of 65,20 millions of Euros, versus to 29,92 million of Euros the corresponding period of 2006, increased at 117,92%.
The profits before taxes came up to 17,56 million of Euros against 9,36 million euros the corresponding last year?s period, presenting increase of 87,54%.
The profits before taxes, interest and debt amortizations (EBITDA) are presented strengthened at 79,22% and came up to 15,45 million of Euros the first semester of 2007 versus to 8,62 million of Euros the year before. The equivalent functional margins (EBITDA margin) came up to 23,70% versus the 28,81% the corresponding half-year period 2006.
The net-after taxes-profits MICHANICI SA were shaped in 13,56 millions of Euros, versus to 7,36 millions of Euros, at the first semester period of 2006, increased at 84,19%.
The announcement and publication of the elements of the economical situations will be accomplished on Tuesday 28th of August.