The Management of the MOTODYNAMICS Group, commenting on the financial results of the first half-period of 2007, which derive from and are published according to the International Accounting Standards (IAS), points out the following:
At parent company level, the turnover amounted in 48.2 million Euros, presenting a rise of roughly one percentage point compared to the same period of last year. EBITDA reached 3.4 million Euros, decreased by 5,5% in relation with the previous half-year period. Net profits were at the same level with the previous corresponding period, amounting in 2.2 million Euros.
The marginal turnover increase of the parent company is mainly attributed to the intensifying competition in the market of two-wheelers, and also to the delays of arrivals of commercial motorcycles.
At MOTODYNAMICS Group level, the consolidated turnover of the first half-year period 2007 amounted in 49 millions Euros, increased by 2,3% compared to the same period of 2006. EBITDA reached 3.6 million Euros, increased by 6,9% compared to the previous half-year period. Net profits increased by 21,4% amounting in 2.27 million Euros, whereby profits after taxes and minority rights presented an increase of 19,6% and amounted in 2.25 million Euros.
The continuous rise of turnover of the subsidiaries in Romania and in Bulgaria, as well as the substantial improvement in their results, verifies that the extension of activities in the Balkans was wisely prioritized as one of the major strategic goals of the MOTODYNAMICS Group.