Consolidated sales of S&B Industrial Minerals S.A. showed an 8.1% increase during the first half of 2006 as compared to last year's corresponding period. More specifically, consolidated sales of the S&B Group amounted to Euro231.4 million compared to Euro214.1 million in the first half of 2005. Profits before tax, financial and investing income amounted to Euro20.73 million in comparison to Euro21.34 million in the first half of 2006 (down 2.9%) and net profits stood at Euro12.08 million versus Euro12.65 million (down 4.5%).
Financial Highlights of S&B Group - first half of 2006
Sales: Euro231.40 million (compared to Euro214.10 million in first half of 2005)
Gross profit: Euro57.63 million (compared to Euro55.41 million in first half of 2005)
Earnings before tax, financial and investing income: Euro20.73 million (compared to Euro21.34 million in first half of 2005)
EBITDA: Euro33.42 million (compared to Euro34.05 million in first half of 2005)
Profit before tax: Euro17.63 million (compared to Euro20.11 million in first half of 2005)
Net profit: Euro12.08 million (compared to Euro12.65 million in first half of 2005)
Profit after tax and minority interests: Euro11.14 million (compared to Euro11.78 million in first half of 2005)
In the Industrial Minerals activities, consolidated sales in the period January-June 2006 rose to Euro175.61 million, up by 2.3% compared to Euro171.67 million in the same period of 2005. Operating profits from these activities amounted to Euro17.38 million compared to Euro18.81 million in the first half of last year, down by 7.6% mainly due to circumstancial factors.
In the Commercial Activities (Motodynamics S.A. and Ergotrak S.A.) increases of 31.4% in sales and of 16.2% in operating profits were recorded in the first half of 2006 as compared to the same period of 2005. More specifically, sales in these activities reached Euro55.91 million (from Euro42.54 million) and operating profits Euro3.14 million (from Euro2.71 million).
S&B's Chief Executive Officer, Mr Efthimios O. Vidalis commenting on the financial results of the first half of 2006 and the Group's overall performance noted: "The results for the first semester of 2006 were in line with our forecast; for the full year we expect our profitability to be above that of 2005, excluding non recurring items. The Group's developmental activities continue steadily with consistency and discipline to the strategic goals we have formulated".
The relevant financial statements will be published in the Press as well as uploaded in the company's website www.sandb.com on Thursday, August 31, 2006.