SPRIDER Group of Companies S.A. announced the consolidated 2005 full year results, according to International Accounting Standards (IAS).

Specifically:
On consolidated basis, turnover amounted to EUR 73 million versus EUR 64.8 million in 2004, up by some 12.6%. It should be noted however that in the turnover of 2004, the amount of EUR 3,120 thousand is included, amount which concerns the compensation paid for inventory damage incurred due to a fire that broke in the main warehouses of the company, a fact which brings the real increase in turnover to 18.3%.
Gross profit rose by some 23.8% to EUR 37.9 million in 2005 against EUR 30.6 million in the corresponding year-ago period. Respectively, the gross profit margin comprised 51.9% of turnover versus 47.2% in 2004. EBITDA reached EUR 14.2 million in 2005 versus EUR 9.8 million in 2004, recording an increase of 46%.
Profit after tax amounted to EUR 8.9 million in 2005 compared to EUR 4.9 million in 2004, up by 81.5%, while profit after tax increased by 100% amounting EUR 5.8 million. It should be noted that the 2004 results include non-recurring expenses of EUR 4,448 thousand as well as non-recurring revenues of EUR 1,751 thousand generated from the sale of fixed assets. The aforementioned non-recurring expenses concern the value of the inventory that was damaged by fire, which was not covered by insurance.
The Group's net investments reached last year's levels as they amounted to EUR 9.8 million in 2005 versus EUR 10.2 million in 2004. The said investments realized during the fiscal year 2005 were covered by strong operating cash flows, which reached EUR 14.2 million versus EUR 7.1 million in 2004. In 2006, the main investment priority for SPRIDER is the expansion of its activities both on local and international scale.