EYATH S.A has shown a particularly positive course of its financial results in the second trimester of 2008, thus increasing the financial results of the first semester of 2008 as recorded in the published six month financial lists. In particular, earnings after taxes have reached 8,333 million Euros, as opposed to 4,282 million Euros last year, thus increasing by 94, 6%, while earnings before taxes have reached 11,383 million Euros, as opposed to the 6,102 million Euros of the first semester of 2007 thus increasing by 86,54%. Gross profit has increased by 59, 55%, from 11,071 million Euros to 17,664 million Euros in the first semester of 2008.
Earnings per stock reached 0, 2296 Euros this year as opposed to 0,118 Euros last year, increasing by 94, 57% while cash flows amounted to 13,9 million Euros, as opposed to 12,7 million Euros in the respective period of 2007, increasing by 9,04%.
At the same time, the Company from Northern Greece presented a turnover of 39,057 million Euros in the first semester of 2008, as opposed to the 33,289 million Euros in the respective period of 2007, increased by17, 33%. The management of EYATH S.A would like to note that this is the 13th consecutive trimester where the company presents an increase of sales and an increased profitability and the 2nd consecutive trimester where a reduction in the cost of sales is noted. The increase in profitability can be attributed to the rationalization and the effective reduction, no longer mere restraint, of expenses. Thus the cost of sales, from 22,22 million Euros in the first semester of 2007, has reached 21,37 million Euros in the first semester of 2008 decreasing by 3,8%.
Respectively, in the three year period 2005-2008 there has been a spectacular improvement of financial results. More particularly, in the first semester of 2008 in comparison with the respective semester of 2005 the company?s turnover has increased by48,17%, while gross profit increased by 117,35%. Earnings before taxes increased by 358, 21% and earnings after taxes increased by 437, 19%.
It should also be noted that in the four year period 2004-2008 a full reverse of financial results was achieved as in the respective first semester of 2004 EYATH S.A recorded damages in both before and after taxes results. Indeed, in the first semester of 2008 in comparison with the respective period of 2004 the company?s turnover has increased by 77, 25% and gross profit increased by 165, 29%.
It is finally noted that EYATH S.A receives no state funding since 2005, though it used to in the past (9 million Euros in 2002, 6 million Euros in 2003 and 3 million Euros in 2004).