The consolidated turnover of VIOHALCO increased by 2,7%, in the first nine months of the year 2008, amounting to Euro 2.881 mil. The consolidated profits, for the period 01/01 - 30/09/2008, before taxes, interest and depreciation (EBITDA) amounted to euro 290, compared to euro 328 mil., decreasing by 11,6%, while the profits before taxes and minority rights amounted to euro 137 mil., decreasing by 28,2%, compared with the euro 191mil. of the corresponding period of 2007. The profits after taxes and minority rights amounted to euro 58 mil., or euro 0,2895 per share, decreasing by 28%, in comparison with those of 2007.
The decrease of the Company's results is due to the international financial crisis, which has a negative effect on the development and investments rate. The relevant decrease of the metals prices affected accordingly the results of the Company, due to the fact that a provision for devaluation of inventories, amounting in total to euro 47 mil., was carried into them.