Consolidated turnover in 2007 amounted to EUR 442.5 mil., while consolidated EBITDA stood at EUR 117.3 mil and earnings after tax and minorities reported at EUR 83.2 mil.
In more detail for the FY period, the Healthcare division (Human and Veterinary) turnover amounted to EUR 297.8 mil., while EBITDA stood at EUR 86.8 mil., contributing the highest profit margin of all other sectors. For the Non-Health division (Detergents & Cosmetics and Organic products) FY turnover totaled EUR 144.6 mil., while EBITDA reached EUR 30.5 mil.
The Group also prepared pro forma financial results, which consist of the results of the absorbed group of companies Elpharma, Lamda Detergent, Ebik for the period 1/1 - 31/12/2007 and 1/1/ - 31/12/2006 as if they had been merged on 31/12/2005. For the avoidance of doubt, the FY 2007 and the pro foma FY 2007 financial results include the results of the companies acquired by the Group from the date of their acquisition (excluding the acquisition of Marinopoulos which is currently being finalized and consolidated with the equity method).
Based on that, pro forma consolidated turnover for FY 2007 increased by 73% standing at EUR 472.7 mil. over EUR 273.5 mil. in 2006. Regarding gross profit, that increased by 167% amounting EUR 191.6 mil. over EUR 71.8 mil. in 2006. EBITDA increased in 2007 by 168% standing at EUR 123.6 mil. over EUR 46.1 mil. in 2006. Moreover, earnings before taxes (EBT) amounted EUR 100.2 mil. marking an increase of 269%, while earnings after taxes and minority rights stood at EUR 87.5 mil. in 2007 over EUR 20.0 mil. in 2006 increased by 337%.
Important facts and prospects:
Based on the strong cash position of the company as well as the significant growth rates of the health and consumer products sectors and in order for the company to sustain its growth pattern rates and satisfy its shareholders, the company?s Management will propose to the Annual General Shareholders Meeting the distribution of a dividend for the fiscal year 2007, amounting ? 0.025 per share. In more details, the total dividend for the fiscal year 2007 will amount EUR 24,515 thou.
ALAPIS SA, announces that following the signing of the final contract, the acquisition of the remaining 51% of K.P. MARINOPOULOS S.A. was completed. The acquisition cost amounted EUR 29 mil.
Additionally, pursuant to the Group?s corporate restructuring, in order to best service its activities and achieve a more effective tax planning, while generating significant economies of scale by trimming down administrative expenses:
a) ALAPIS S.A. will merge via absorption its 100% subsidiaries BIODOMUS S.A. and FARMALEX S.A.
According to the decisions of the Boards of Directors dated 30/12/07 of the three companies, they announced their intention for the merger via absorption of the two subsidiaries by ALAPIS S.A. The merger will be performed in accordance with the stipulations of the articles of Cod. Law 2190/1920 and Law 2166/1993. 31/12/2007 was set as the merger balance sheet date of the absorbed companies.
b) 100% subsidiary REVOLD S.A. will merge via absorption the 100% subsidiary ALAPIS CROPSCIENCE S.A.
According to the decisions of the Boards of Directors dated 30/12/07 of the two companies, they announced their intention for merger via absorption of the later by the former. The merger will be performed in accordance with the stipulations of the articles of Cod. Law 2190/1920 and Law 2166/1993. 31/12/2007 was set as the merger balance sheet date of the absorbed companies.
Based on the very positive FY 2007 results, the substantial growth rate of the Group's activities in conjunction with the recent acquisitions and the goals which have been set for the current year, the Group estimates that 2008 consolidated sales will stand at EUR 900 mil., consolidated EBITDA at EUR 250 mil. and earnings after taxes and minority rights at EUR 160 mil.
Please note that the above projections are only management estimates and are only an indication of the group's future operational performance. The management of ALAPIS is monitoring closely the trends and developments in the markets it operates in, as well as the general macroeconomic environment of the countries in which it is active and any other circumstances that may materially impact its financial objectives as they are presented herein and will inform the investment community in a timely manner, should any such case arise, as it has systematically been doing so far.