Consolidated figures 6M 2006 6M 2005
Sales 109.87 102.77 +6.9%
EBITDA 27.43 23.81 +15.2%
ΕΒΤ after minorities 26.12 22.79 +14.6%
Earnings after tax 18.41 15.52 +18.6%
Amounts in euro million

HELLENIC DUTY FREE SHOPS' consolidated earnings after tax increased by 18.6% for the first six months of 2006, reaching euro 18.4 million compared to euro 15.5 million for the respective period of 2005. Consolidated sales (turnover) rose by 6.9%, reaching euro 109.9 million compared to euro 102.8 million for the respective period of 2005. Earnings before interest, tax, depreciation and amortization (EBITDA) reached euro 27.4 million from euro 23.8 million in the first half of 2005, posting an increase of 15.2% while earnings before tax after the deduction of minority interest reached euro 26.1 million from euro 22.8 million, increased by 14.6%. Net earnings per share reached euro 0.349 from euro 0.295 (+18.6%).
In the first half of 2006 the Management's cost containment efforts on an operational level continued successfully resulting to a further decrease of operating and administration expenses to 33.2% of consolidated sales compared to 34.0% for the respective period of 2005. It should be noted that if the respective expenses remained at 34.0% of consolidated sales (as in the first half of 2005) the results would be burdened by euro 0.8 million.
Commenting on the financial results, the Company's CEO, Dimitris Koutsolioutsos mentioned that "We are very satisfied by the financial performance of the first half of 2006 which was characterized by a strong earnings growth and a further containment of expenses. The fundamentals of our business activities remain strong, proving the dynamics of our Company's growth".
The Company's subsidiary, HELLENIC DISTRIBUTIONS S.A., maintained its growth for yet another quarter. More specifically, HELLENIC DISTRIBUTIONS's sales reached euro 10.9 million and EBITDA reached euro 543 thousand.
Finally, sales for the parent Company reached ?100.6 million from euro 97.9 million increased by 2.8%, while EBITDA reached euro 26.9 million from euro 23.3 million and net earnings after tax reached euro 18.1 million from euro 16.3 million, increased by 15.5% and 10.9% respectively. Earnings before tax reached euro 25.6 million from euro 23.5 million, an increase of 9.2%.