GREECE: Nireus's EBITDA up by 31.2%

Nireus Group continued its dynamic growth for 3rd Quarter 2006, a fact that is reflected further in the rise of all its fundamental financial figures and in the amplification of its profitability, says Group’s management, after releasing Group’s financial figures.
According to the figures, consolidated EBITDA recorded a significant boost by 31.2% to EUR 21.52 mln in 3rdQ 2006, versus EUR 16.12 mln in 3rdQ 2005. Also significant was the increase by 21,18% of the Consolidated Pre-Tax Profits, reaching EUR 12.09 mln. versus 10.06 mln. EUR in last year''''s 3rd quarter. After Tax and Minorities Profits reached EUR 7.46 mln versus EUR 4.6 mln in 3rdQ 2005 marking a 62.17% increase.Consolidated Revenues rose by 13.31% to EUR 121.21 mln from EUR 106.97 mln in 3rdQ 2005.

NIREUS S.A. Financials

EBITDA rose by 66.16% to EUR 17.53 mln versus EUR 10.55 mln. in 3rdQ 2005. Pre-Tax Profits rose by 44.90% reaching EUR 11.36 mln from EUR 7.84 mln in the previous corresponding period of 2005. After Tax profits increased by 54.68% reaching EUR 8.43 mln, from EUR 5.45 mln in 3rdQ 2005. Company Revenues increased by 39% up to EUR 117.52 mln versus EUR 84.54 mln in 3rdQ 2005.

It should be noted that the above 3rdQ 2006 financial figures for Nireus S.A., include those of Feedus S.A. since the latter merged by acquisition from Nireus S.A. after 3rd Q 2005, in late 2005. After adjusting previous year 3rdQ 2005 figures (due to the said merge), the adjusted financial figures for 3rdQ 2005 are EUR 103.2 mln for Company Revenues and EUR 9.5 mln for Company Pre-Tax Profits thus, Company Revenues and Pre-Tax Profits rose by 13.9% and 19.6% respectively, for 3rdQ 2006.
The above results are within the set targets, said Group''s management, for fiscal year 2006, while NIREUS Group continues successfully the implementation of its operational and investment plan.
Source: www.reproter.gr