AXON Α.Ε. ΣΥΜΜΕΤΟΧΩΝ
COMMENCY ON 9M 2008 RESULTS
17 % increase in turnover and 6.2% in EBITDA
Turnover of the AXON HOLDINGS Group increased by 17.0% during the 9M of 2008 compared to the respective 9M of 2007, reaching 187.0 mn compared to 159.8 mn euro. Earnings before interest, taxes, depreciation & amortization (EBITDA) amounted to 28.6 mn euro from 26.9 mn euro the previous 9M, thus posting an increase of 6.2%.
The increase of the above fundamentals is mainly due to the health sector, through the subsidiary Euromedica S.A., as well as to the consolidation in the latter of a total 18 new Companies added to the Euromedica group during the 9M of 2008, either by acquisition or establishment.
At the parent level, turnover amounted to 5.41 mn euro and is attributed exclusively to the activity of the services and product production sector of the former "ACHAIKI HIGH TECHNOLOGY INDUSTRY S.A.", which was absorbed by the Company on 31-12-2007 and thus from 1-1-2008 constitutes an activity of the Company. The Company does not present comparative turnover data because during the previous periods it had no production sector. From the aforementioned absorbed sector, there was a positive effect also on EBITDA, which amounted to 2.30 mn euro, compared to a loss of 51 thousand euro during the respective period of 2007.
The Group's pre-tax results amounted to losses of 13.1 mn euro compared to profit of 34.4 mn euro during the 9M 2007, while results after taxes amounted to losses of 11.4 mn euro for the 9M 2008, compared to profit of 26.2 mn euro the 9M of 2007.
The losses at the Group level are mainly due to the valuation differences of the investment portfolio (IASO shares), of Euromedica group.
In contrast, at the Company level, profit of 9.71 mn euro was posted compared to 6.54 mn euro the respective period of 2007. The increase in the Company's earnings before taxes is mainly due to profit that emerged from the sale of property.
Turnover of the AXON HOLDINGS Group increased by 17.0% during the 9M of 2008 compared to the respective 9M of 2007, reaching 187.0 mn compared to 159.8 mn euro. Earnings before interest, taxes, depreciation & amortization (EBITDA) amounted to 28.6 mn euro from 26.9 mn euro the previous 9M, thus posting an increase of 6.2%.
The increase of the above fundamentals is mainly due to the health sector, through the subsidiary Euromedica S.A., as well as to the consolidation in the latter of a total 18 new Companies added to the Euromedica group during the 9M of 2008, either by acquisition or establishment.
At the parent level, turnover amounted to 5.41 mn euro and is attributed exclusively to the activity of the services and product production sector of the former "ACHAIKI HIGH TECHNOLOGY INDUSTRY S.A.", which was absorbed by the Company on 31-12-2007 and thus from 1-1-2008 constitutes an activity of the Company. The Company does not present comparative turnover data because during the previous periods it had no production sector. From the aforementioned absorbed sector, there was a positive effect also on EBITDA, which amounted to 2.30 mn euro, compared to a loss of 51 thousand euro during the respective period of 2007.
The Group's pre-tax results amounted to losses of 13.1 mn euro compared to profit of 34.4 mn euro during the 9M 2007, while results after taxes amounted to losses of 11.4 mn euro for the 9M 2008, compared to profit of 26.2 mn euro the 9M of 2007.
The losses at the Group level are mainly due to the valuation differences of the investment portfolio (IASO shares), of Euromedica group.
In contrast, at the Company level, profit of 9.71 mn euro was posted compared to 6.54 mn euro the respective period of 2007. The increase in the Company's earnings before taxes is mainly due to profit that emerged from the sale of property.