|Listed Companies' Press Releases
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HELLENIC EXCHANGES HOLDINGS S.A.|
LAMDA DEVELOPMENT S.A.
NOTOS COM HOLDINGS S.A.
LAMDA DEVELOPMENT S.A.
ARCADIA METAL IND. C. ROKAS S.A.
ELMEC SPORT S.A.
AGRICULTURAL BANK OF GREECE S.A.
ELAIS - UNILEVER S.A.
ELAIS - UNILEVER S.A.
BANK OF GREECE
NOTOS COM HOLDINGS S.A.
TITAN CEMENT COMPANY S.A.
ATTICA HOLDINGS S.A.
ALTEC C.A. INFORM. & COMMUN. SYST.
F.G. EUROPE S.A.
HELLENIC DUTY FREE SHOPS S.A.
DELTA ICE-CREAM S.A.
HELLENIC EXCHANGES HOLDINGS S.A. : Comments on Recent Press
|With regards to recent press reports concerning 'Alliances of the Hellenic Exchanges Group", HELEX announces that no discussion concerning a possible cooperation has taken place with Wiener Boerse (Vienna Exchange).|
LAMDA DEVELOPMENT S.A. : New composition of the Board of Directors
LAMDA Development's Board of Directors has elected Ìr. George K. Papageorgiou, who is the General Manager of the Company, as new member of the Board, effective from 26/5/2006, in substitution to the resigned member Mr. Lambros Anagnostopoulos.
Furthermore, the Board has decided that the Chairman of the Board of Directors, Mr Apostolos Tamvakakis will also hold the duties of the Chief Executive Officer.
The new Company's Board of Directors is as following:
Apostolos Tamvakakis, Chairman of the Board of Directors & Chief Executive
Officer, Executive Member
Evaggelos Chronis, Vice President, Non Executive Member
vGeorgios Papageorgiou, Executive Member
Emmanuel Leonard Bussetil, Non Executive Member
Petros Kalantzis, Non Executive Member
Spirodon Theodoropoulos, Non Executive & Independent Member
Dimitrios Papalexopoulos, Non Executive & Independent Member
Photios Antonatos, Non Executive Member
The validation of the aforementioned Board of Directors will be performed by the next Annual Shareholders Meting, in accordance with the provisions of law.
NOTOS COM HOLDINGS S.A. : Q1 2006 results
Group Turnover reached 65.64mln euro in Q1 2006 versus 62.53 mln euro in the respective quarter of 2005, an increase of 5%.
Gross Profits for the Group were marginally higher by 0.58% at 27.61 mln euro versus 27.45 mln euro last year. The Gross Profit Margin was somewhat lower in the particular quarter primarily due to the change in logistics procedures which caused delay in delivery of a particular brand of apparel which carries a high profit margin. Additionally, the sales period this year was extended by 2 weeks compared to the year before.
Net Profits after taxes were at 3.6 mln euro compared to 4.7 mln euro last year. The following factors contributed to this: a) extraordinary income in Q1 of 2005 of approximately 1 mln euro from the sale of assets, was not repeated this quarter b) distribution expenses were higher, at 25.9% of Turnover versus 24.2% over the respective period in 2005.
The 15.12% increase in Turnover for Notos Galleries department stores was notable despite increased competition. An important contribution to this was the 59% increase in Turnover of the Notos Galleries Home department store, which is now well established in the wedding lists market, with a tendency to surpass the 25% market share achieved in 2005.
The highest growth came from International Subsidiaries, recording 3.6 mln euro in Turnover versus 2.1 mln euro last year, an increase of 73%. This growth rate is considered sustainable, contributing significantly to the development of the Group. The share of foreign subsidiaries in Group Turnover increased from 3.3% in Q1 2005 to 5.5% in Q1 2006. The target of increasing this percentage contribution to 10% of Group Turnover by 2008 remains.
LAMDA DEVELOPMENT S.A. : First Quarter 2006 Financial Results in accordance with International Financial Reporting Standards (IFRS)
LAMDA Development consolidated turnover reached Euro 46,3 million in 1st qt 2006 compared to Euro17,2 million in same period of previous year 2005, showing an increase of 169%. The growth in group turnover is mainly attributed to the revenues generated by the two Shopping and Entertainment Centers, "The Mall Athens" and "Mediterranean Cosmos", as well as to the continuing sales of residential units by LAMDA Olympia Village. It should be noted that group turnover no longer consolidates the turnover of Swissport LAMDA Hellas after its disposal in June 2005.
Group turnover reiterates the strategic focus on Real Estate development, management and investment.
Consolidated net profits after minority interest increased significantly as it reached Euro 6, 6 million compared to a loss of Euro 3,1 million in the corresponding period last year.
Consolidated net profit increased by Euro12,9 million or Euro 9,7 million after deducting minority interests primarily due to the successful operation and management of the two Shopping and Entertainment Centers. The reduction of corporate income tax rate had also a positive effect as it reduced deferred taxes by Euro5,4million. This favorable development counterbalanced the increase in financial expenses by Euro 4,2million which are now expensed and no longer capitalized as in the previous periods, given the completion and commencement of operation of the group's real estate developments.
LAMDA Olympia Village SA generated net profits of Euro7,6 million against a loss of Euro1million in the 1st quarter of 2005. Total EBITDA reached Euro8,5million, Euro5million of which pertain to net operating income from "The Mall" whereas the remaining Euro3,5million were generated by residential sales in "ILIDA".
PYLEA SA posted net profits of Euro4,2 million compared to a loss of Euro0,6million in the corresponding period in the previous year. The entire income is generated by the operation of "Mediterranean Cosmos".
LAMDA TechnOL Flisvos Marina SA posted losses of Euro0,8million compared to losses of Euro1,5million in the 1st quarter of 2005. This improvement stems from the increase in sales revenue which reached Euro1,4million compared to Euro0,9milion in the first quarter of 2005. It should be emphasized that negative results are attributed to the lease payments to ETA since, by applying the principle of prudence, the company charges its financial results by the full amount of lease payments requested by ETA (Hellenic Tourist Development Company), despite the fact that the final arbitration decision is in process and not issued yet. This arbitration decision is expected to decide the lease payments not only for the current year but also for the previous years 2005 and 2004. Furthermore, it is worth noting that the construction works in the marina resumed in the beginning of February 2006, after a 12 month suspension, given the withdrawal of the petition to the Council of State by the Municipality of Paleo Faliro.
The parent company LAMDA Development posted losses of Euro3,1million compared with losses of Euro0,8million in the 1st quarter of 2005. This outcome is mainly attributed to a Euro1million one-off charge representing taxes and notary's fees paid for the transfer of residences to the Municipality of Maroussi. Financial expenses increased by Euro0,6million and an additional Euro0,6 million burdened financial results as increased personnel costs arising from the transfer of personnel from subsidiary LAMDA Estate Development following a group reorganization.
LAMDA Shipyards continued with its efforts to reorganize and contain costs. Consolidated financial results deteriorated when compared to the 1st quarter of the previous year due to the decrease in turnover and one-off expenses of Euro0,5million aiming to achieve a permanent cost reduction on an annuity basis. Consolidated turnover reached Euro2 million and consolidated losses reached Euro0,7million compared to Euro3,1million turnover and Euro0,2million losses in the 1st quarter of 2005.
Hellix SA posted a turnover of Euro0,4million, increased by 28% compared to the corresponding period in 2005. Profit before taxes reached Euro67thousand, increased by 81%.
It should be noted that both Shopping and Leisure Centers have had a very successful course to date by measure of the frequency of visits and the commercial results. The Mall Athens is fully let and Mediterranean Cosmos is 96% let.
The company continues its efforts towards the concentration of its business activities in the development, management and investment in real estate in Greece and abroad. The company's strategy for 2006 is focused on the following areas:
- Further improvement of financial and operating results ïf The Mall Athens and Mediterranean Cosmos
- Intensification of efforts towards the successful commercialization of ILIDA Business Center (office complex) and the sale of the remaining apartments of the residential complex of ILIDA ,developed by LAMDA Olympia Village
- Completion of the investment works for the upgrading of Flisvos Marina in order to be in full force by the end of 2006
- Improvement of the operating results of LAMDA Shipyards through the containment of the operating costs of the company
- Maintain leadership in Greece in the management and development of shopping and leisure centers as well as expand in the development and management of outlets, big boxes, holiday residences and a lesser emphasis on new office building.
- Intensify efforts towards new developments in Central Eastern Europe
- Further exploit its strategic alliances with international and national real estate companies
- Achieve an optimum balance of risk reward ration per investment
- Development with third party investors, and management of a close end fund with the purpose to invest in real estate in Central Eastern Europe.
The financial results of the first quarter of 2006 will be published in the press on 29/5/2006 and will be announced on the company's website (www.lamda-development.net).
ARCADIA METAL IND. C. ROKAS S.A. : Announcement
|The Board of Directors of "METAL INDUSTRY OF ARCADIA C. ROKAS SA" informs investors that on 27 April 2006 the Ordinary General Meeting of the Company's Shareholders decided, among other matters, to change its corporate name to "C. ROKAS SA". The Ministry of Development, by way of its decision No K-2/6719/12.05.2006, approved the amendment to the relevant article of the Company's Articles of Association. The Board of Directors of the Athens Stock Exchange, during its meeting of 25 May 2006, was informed of the above decision. Following the above, the BoD of the Company decided that as of 31 May 2006, the name of the Company on the Athens Stock Exchange changes to "C.ROKAS SA.". For further information, shareholders may contact the Shareholders Service Department of the Company (tel: 210 - 877 4100, Mr. Iosif Michailidis).
ELMEC SPORT S.A. : Briefing of Equity Analysts
|Elmec Sport SA announces that the scheduled briefing to analysts regarding the annual financial statements of the Company will take place on 31/5/2006 at 09.00 at the coffee house of the "attica, the department store", on the 6th floor, at 9, Panepistimiou Str in Athens.|
AGRICULTURAL BANK OF GREECE S.A. : Announcement
|ATEbank announces that one of its strategic decisions is the expansion in the Balkans, the Black Sea and the Eastern Mediterranean countries, either through the acquisition of a majority stake or through the participation in the share capital of a foreign bank. As an initial step in that direction, ATEbank has signed a preliminary agreement to acquire a majority stake in the Romanian MindBank. ATEbank is in the process of a due diligence procedure in MindBank aiming at completing the transaction within a month.
ELAIS - UNILEVER S.A. : Announcement
During the annual ordinary Shareholders Meeting of the company which was held today, 26.5.2006, and was attended by 32 shareholders, with a quorum of 73.05 % , the following decisions were unanimously made:
1. Approval of the annual financial statements of the Company for the year 2005 and the relevant Board of Directors and Auditors Reports.
2. Decision to discharge the Board of Directors and the Auditors from any liability for the financial year 2005.
3. Election of certified-auditors accountants for the year 2006 from the audit firm Pricewaterhouse Coopers S.A. and determination of their fee.
4. Approval of the fees and remuneration granted or to be granted to the members of the Board of Directors.
5. Approval of dividend payment for the year 2005, amounting to 1.35 euro per share, determination of beneficiaries to receive the dividend for the year 2005, which will be the shareholders of the company at the closing session of the Athens Stock Exchange on May 29, 2006 and setting of dividend date on June 7, 2006. The dividend payment will be made through the branch network of the National Bank of Greece.
ELAIS - UNILEVER S.A. : Announcement
According to article 279 of the ATHEX Regulation and the decision of the Ordinary Shareholders' Meeting as of May 26, 2006, the Company "ELAIS - UNILEVER S.A. COMMERCIAL & INDUSTRIAL FOODS COMPANY" announces that the dividend for the year 2005 amounts to 1.35 euro per share. Eligible to receive dividend payment are shareholders of the company at the closing session of the Athens Stock Exchange on May 29, 2006. The ex-dividend date will be Tuesday, May 30, 2006. Therefore, from that date the Company's shares will be quoted in the ATHEX with no right to receive dividend. Dividend payment will be made on June 7, 2006 through the Bank NATIONAL BANK OF GREECE, as follows:
1. Through the operators of shareholders to the Dematerialized Security System, as per articles 329 of the ATHEX Regulation and 39 of the Central Securities Depository.
2. Through the NATIONAL BANK OF GREECE Branch Network for shareholders who have requested an exception from their operators or whose shares are held in the Special Account of their securities account at the Dematerialized Securities System.
3. Shareholders who for several reasons did not manage to receive the dividend through their operators, dividend collection can be made as of June 14, 2006 through the Branch Network of the NATIONAL BANK OF GREECE. The dividend can be collected as mentioned in the above cases 2 and 3 till 6.6.2007 and will be made by presenting a printout of the Account at the Dematerialized Security System and the identity card, either in person or through a legally authorized representative. After the above date (6.6.2007) dividend payment will be made at the offices of the company ELAIS-UNILEVER S.A. COMMERCIAL & INDUSTRIAL FOODS COMPANY on 74, Athens - Piraeus Ave., 185 47, Neo Faliro.
For any information Shareholders may contact the Shareholders Department of our company, Ms. Maria Drakopoulou, tel. +30 210-4896259, fax. +30 210-4832991.
BANK OF GREECE : Euro area balance of payments (March 2006)
|Download the Press Release and the Tables|
NOTOS COM HOLDINGS S.A. : Announcement
|The Conference Call Following for investors and analysts regarding the results for the 1st quarter of 2006, will take place on Wednesday, May 31st at 18:00 Athens time.|
TITAN CEMENT COMPANY S.A. : Comments on Recent Press Article
|With reference to the publication in the website euro2day, dated on 29-5-2006, regarding our Company and the Spanish company Uniland, we clarify that TITAN Group is considering the possibility to submit a bid in the final phase of the procedure for the acquisition of the 73,7% of the shares of the Spanish company Uniland. Other companies participate also in the procedure. The date for the submission of bids is scheduled on the 7th of June 2006. The estimated price is considered valid. In case of acquisition of the 73,7% of Uniland, TITAN will inform the investors.|
ATTICA HOLDINGS S.A. : Reply to letter of the Hellenic Capital Markets Commission
|Attica Group denies recent reports in relation to the acquisition of a ferry company in Northern Europe.
ALTEC C.A. INFORM. & COMMUN. SYST. : First Quarter 2006 Financial Results
The ascending course of ALTEC group continues over 2006, something which is reflected in the financial figures of the first quarter of 2006.
According to the figures of the quarter, profit after taxes and minority interests, increased by 9,52% and reached 1,04 million euros, against 952.000 euros last year.
Profits after taxes increased by 204,90% reaching 1,06 million euros, against 347.000 euros last year.
Profit before taxes, increased by 40,52% and reached 1,31 million euros against 932.000 euros last year.
Notably, sales increased by 5,09% ,despite the constraint of commercial activity of ALTEC, as a result of the strategic plan of Management for a gradual reduction of the distribution business and a simultaneous emphasis on activities of greater added value and contribution margins.
Particularly, at a Group level, sales reached 46,72 million euros against 44,46 million euros last year.
Profit before taxes and financial activities, reached 3,46 million euros, against 2,73 million euros during the first quarter of 2005, indicating a growth of 26,71%.
Group' s equity shaped at 76,38 million euros, against 75,92 million euros last year.
With reference to the financial figures of the company, profit after taxes, improved during the first quarter of 2006 compared to the first quarter of 2005 by 39,87% and reached 1,05 million euros against 753.000 euros last year.
Profits before taxes and financial activities, reached 3,27million euros against 2,68 million euros, indicating a growth of 14,38%.
Profit before taxes raised at 1,31 million euros from 1,27 million euros indicating a growth of 3,55%.
ALTEC's sales increased by 1,56% reaching 26,50 million euros, against 26,09 million euros the first quarter of 2005.
ALTEC's equity amounts to 96,83 million euros from 95,77 million euros last year.
ALTEC continues to emphasise on investments regarding products, services and infrastructures. The goal is to create the prerequisites, which will enable ALTEC to continue its dynamic course.
F.G. EUROPE S.A. : New composition of the Board of Directors
According to Article 4 par. 3 of L. 3016/2002 we disclose that the Board of Directors that was elected by the annual General Assembly of Shareholders of May 25, 2006 was formed today May 29, 2006 as follows:
Fidakis Georgios, Chairman of the Board of Directors,
Koutsoubelis Konstantinos, Vice President of the Board of Directors,
Pantousis Ioannis, Managing Director, Vlamis Georgios, Executive Member,
Demenagas Konstantinos, Executive Member and Stroggylopoulos Georgios,
Piblis Nikolaos as independent non-executive members.
The service term of the elected Board of Directors is two years and ends according to the Article of Incorporation of the company the tenth day after two years after the Annual General Assembly.
The same Meeting of the Board of Directors elected the members that compose the committees of the Board of Directors as follows:
1. Audit Committee: Georgios Stroggylopoulos and Spyros Lioukas.
2. Compensation & Benefits and Retirement Program Committee: Ioannis Pantousis (responsible) and Spyros Lioukas.
3. Environmental Issues Committee: Spyros Lioukas (responsible) and Georgios Stroggylopoulos.
4. Proposals and Candidatures of the Board of Directors Committee: Ioannis Pantousis (responsible) and Konstantinos Koutsoubelis.
5. Solution of Administrative issues: Nikos Piblis (responsible).
6. Competition, Transparency and Corporate Governance: Spyros Lioukas (responsible) and Koutsoubelis Konstantinos.
HELLENIC DUTY FREE SHOPS S.A. : New composition of the Board of Directors
The Company HELLENIC DUTY FREE SHOPS S.A. announces that during its latest Board meeting, five of its members were replaced. During the same meeting the BoD assembles as follows:
(1) KOUTSOLIOUTSOS GEORGE, Chairman, executive Member
(2) KOUTSOLIOUTSOS DIMITRIOS, Managing Director, executive Member
(3) MANTZAVINOS ZACHARIAS, Vice Chairman, independent, non executive Member
(4) VELENTZAS GEORGE, General Director, executive Member
(5) LAMBROPOULOS HARILAOS, Deputy General Director, executive Member
(6) KOUTSOLIOUTSOU AIKATERINI, executive Member
(7) ARONIS GEORGE, independent, non executive Member
(8) KEZOS NIKOLAOS, non executive Member
(9) FRAGOS DIONYSIOS, non executive Member
(10) CHATZIANTONIOU APOSTOLOS, non executive Member
(11) KOULOUKOUNTIS ILIAS, executive Member
(12) TSIGOUNAKIS IOANNIS, executive Member
(13) DAFERMOS EPAMINONDAS, non executive Member
It is noted that the new members of the BoD act ex officio and only for the completeness of the BoD until the decision of the Competition Committee.
MINOAN LINES : Financial results for the first quarter 2006 - 8.5 % improvement in net results
Minoan Lines are announcing the financial results for the first quarter of 2006. The main market determinants which affected negatively the financial results of all companies operating in the sector were, namely, the crew strike, which lasted for a week, and the high bunker prices reaching the maximum price level of the last years.
The Parent Company:
Despite the aforementioned adverse market conditions, the Company managed to improve its net results by 8.5%. The turnover reached euro 33.1 million against euro 34.1 million, reduced by 3.0% in relation to the respective period of 2005, a fact, owing to the decrease of the number of trips by 12.8% due to the crew strike and the sale of F/B DAEDALUS. The Companys operating profitability (EBITDA) stood at euro 3.9 million showing decrease of euro 1.8 million in relation to the first quarter 2005. This reduction is solely attributed to the increase in the bunker prices, which increased the relevant cost of the Company by 47.1% and the total operating cost by euro 4.1 million regardless the significant reduction in the number of trips. The net loss for the period in effect reached euro 5.3 million versus euro 5.8 million in the respective period of 2005, including the profit from the sale of the Companys stake on MINOAN AGENCIES amounted to euro 1.4 million.
The Groups turnover reached euro 33.1 million versus euro 34.3 million in the previous respective period. The Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) shaped at euro 3.8 million instead of euro 5.7 million of the first quarter 2005. The Groups net loss for the 3-month period reached euro 7.7 million against euro 7.8 million in the first quarter 2005. The difference noted in the Groups financial results in relation to the respective one of the parent company, is mainly due to the financial results for the period of the affiliated company, Hellenic Seaways S.A. in which, Minoan Lines possess 33.3% of its share capital. It is also noted that due to the intense seasonality, Hellenic Seaways high profitability is recorded during the summer period.
Info-Quest S.A. : Q1 2006 financial results
Info-Quest announces its Q1 2006 Financial Results which include the outcome of the sale of Q-Telecom and for that reason they cannot be compared with the Q1 2005 results.
The sale of Q-Telecom for Euro 330 m in cash concluded on January 31, 2006 and it has a significant effect both, on the parent company and the Group Balance Sheet and Profit & Loss Account.
The after tax profit derived from the sale of Q Telecom (the discontinuing operation) that is included in Q1 2006 financial results is Euro 237 m on a Group level and Euro 238 m for the parent company.
After the share capital decrease and the respective cash return to the shareholders of Euro Euro 73 mi, which was concluded on April 19, 2006 the parent company -Info-Quest- has now total own equity of Euro 260 mi, zero bank debt and Euro 70 mi in cash.
The Group's Income Statement of Q1 2006 - in the form that is published on the daily press- includes the financial results of Q-Telecommunications S.A. for the period Jan.1 - Jan 31, 2006.
Additionally, the Group's and the company's Income Statements of Q1 2005 include the financial results of Q Telecom for the period Jan.1 -March 31, 2005 which is not included in Q1 2006 Income Statement.
For this reason, Q1 2006 Group and company results cannot be compared with these of Q1 2005.
The management of the company advises the users of the company's and Group's financial results, to read the interim financial statements which are posted at the Company's Website (www.quest.gr).
In the above financial statements, the operating results of the discontinuing activities (Q-Telecom operations) have been reported separately, so that Q1 2006 results can be compared with those of Q1 2005.
Therefore, taking into account all the above notes, the Financial Results of
Info-Quest Group for Q1 2006 under I.F.R.S. are:
- Consolidated Revenues of Euro 108 mi vs. Euro 118 mi in Q1 2005,
- Consolidated Earnings before Interest, Taxes and Depreciation (E.B.I.T.D.A.) of Euro 5 mi vs. Euro 8 mi.
- Consolidated Earnings before Taxes (E.B.T.) of Euro 244,7 mi vs. Euro 2 mi in Q1, 2005.
- Consolidated Earnings after Taxes and minority interest from discontinuing operations Euro 238 mi vs. of Euro 1 mi.
- Consolidated Earnings after Taxes and minority interest from continuing operations Euro 326 th. vs. Euro 362 th.
For the Parent company, revenues in Q1 2006 reached Euro 65 mi vs. Euro 95 m, EBITDA reached Euro 1,2 mi vs. Euro 7,0 mi, Earnings before Taxes reached Euro 243 mi vs. of Euro 2 mi and Earnings after Taxes reached Euro 238,3 mi vs. of Euro 1,5 mi in Q1 2005.
Earnings after Taxes from continuing operations for the Parent company, reached Euro 359 th. vs. Euro 446 th. the respective period of 2005.
ACS S.A., the courier services company continues in 2006 to show improved financial results. Q1 2006 sales reached Euro 17,3 mi vs Euro 14,9 mi, EBITDA reached Euro 754 thousands vs. Euro 354 th, EBT Euro 459 th vs. losses of Euro 9 th and Earnings after Taxes Euro 189 th versus losses of Euro 41 th in Q1 2005. ACS has the largest network of franchisees with more than 320 points of sales in 200 cities in Greece. ACS operates in Cyprus and Albania and from this year will also operate in Bulgaria and Romania.
DELTA ICE-CREAM S.A. : Preservation of the operating profitability margin (EBITDA) during 2005 at 20% over net sales.
On 26/5/2006 the Annual General Meeting of the shareholders was held at the company?s premises in Tavros, where the company?s financial results were approved and a resolution was adopted for the distribution of dividend to shareholders for year 2005. Despite the adverse weather conditions during summer 2005, especially in the Balkans, where 40% of the Group?s consolidated turnover is performed, the Group managed to limit the consequences of reduced sales through the adoption of specific measures. More specifically, during 2005 the financial performance of DELTA ICE CREAM SA in Greece, by application of the IFRS was as follows:
- The company?s sales fell to Euro 68.3 million from Euro 72.6 million in the previous year, reduced by 5.9%.
- Earnings before interest, taxes, depreciation and amortization (EBITDA) stood at Euro 13.6 million from Euro 14.2 million, producing yield of 19.92% on net sales against 19.56% in the previous year.
- Earnings before interest and tax (ÅÂÉÔ) stood at Euro 7.4 million from Euro 8.1 million in 2004.
- Earnings before taxes (ÅÂÔ) stood at Euro 2.9 million from Euro 5.4 million in 2004.
On Group level, the financial performance of DELTA ICE CREAM SA in 2005 was as follows:
- Sales stood at Euro 119.6 million from Euro 122.6 million in the previous year, reduced by 2.5%.
- Earnings before interest, taxes, depreciation and amortization (EBITDA) stood at Euro 17.1 million from Euro 18.4 million in 2004.
- Consolidated earnings before interest and taxes (ÅÂÉÔ) stood at Euro 4.2 million Euro 6.4 million in the previous year.
The transfer of shares of DELTA ICE CREAM SA and its subsidiaries from DELTA HOLDING SA to the NESTLE Group "as already announced" is currently in progress and is expected to be completed soon.
In 2006 the DELTA ICE CREAM SA Group will continue its growing performance, basically through the launching of innovative products and efficient exploitation of its distribution network in the Balkans. The annual General Meeting of the shareholders further resolved the distribution of dividend to the company?s shareholders for year 2005, equal in total to 1,265 million or Euro 0.06 per share, against Euro 0.08 per share in 2004.