- Profit after tax attributable to group shareholders for the year (1) amounted to euro 330.4m
- Board to Propose Constructive Dividend of euro 0.38 per share (or euro 283,938,176 in total)
Marfin Investment Group Holdings S.A. ("MIG") today reported its results for the financial year ended December 31, 2007.
The Company recorded a strong increase in its profitability during the financial year 2007. Profit after tax attributable to the shareholders for the financial year 2007 (1) amounted to euro 330.4million, This includes net income of euro 267.8 million comprising of a capital gain and the income received until the date of disposal from the discontinued banking operations.
These strong results will allow MIG's Board of Directors to propose at the Annual Shareholders Meeting the payment of a constructive dividend in respect to FY 2007 to an amount of euro 0.38 per share or euro 283,938,176 in total, which will take the form of return of capital for regulatory and tax efficiency purposes.
"We are very pleased with our results for 2007, as we were able to deliver on our commitments while adjusting our strategy in uncertain market conditions" said MIG Chief Executive Officer Dennis Malamatinas. "During this first year, MIG has identified high quality assets with potential for growth across the region and invested a total of euro 5.6bn building a strong portfolio of 17 companies spanning across eight sectors and 40 countries. We continue to execute against our investment plan, aiming to drive significant shareholder value since we believe that despite the general slowing in economies the SEE region continues to offer significant opportunities for investment and growth".
Mr. Andreas Vgenopoulos, Executive Vice Chairman of MIG, made the following statement:
"We are pleased that despite the recent market crisis we are able to reward our long-term shareholders with a satisfactory yield on their investment. We expect that we will be able to continue our generous dividend policy for FY08 as well. Furthermore, together with the announcement of our 1Q08 results we will be in a position to provide full visibility to investors regarding the status of our industrial group and its prospects, as well as detailed guidance for the future."
(1) Excluding a ?10m one-off donation to the fire victims in Greece.
Conference Call
MIG will host a conference call to discuss its earnings on March 27th at 17:00 Greek time/15:00 UK time. The call will be hosted by Andreas Vgenopoulos, Executive Vice Chairman, MIG and Dennis Malamatinas, CEO, MIG, The call will be available on the following phone numbers:
Conference Phone GRE +30 211 180 2000
Conference Phone GRE +30 210 946 0800
Conference Phone GBR +44 (0) 800 376 9250
Conference Phone USA +1 866 288 9315
It is recommended that you call any of the above numbers 5 to 10 minutes before the conference call is scheduled to start.
Digital Playback: There will be a digital playback starting at 19:00 (Greek Time) on 27 March 2008 and available for 72 hours.
For playback, Please dial the following numbers and the PIN CODE: 110 # from a touch-tone telephone:
Digital Playback UK: + 44 (0) 800 901 2906