A.KALPINIS - N.SIMOS SA group management, in order to promptly inform the investment community and in view of the latest developments in the metal sector and in specific to the main raw material used, is announcing moderately revised financial results of its original FY 2007 projections, which were presented at an international road show on September 9, 2007.
More specifically, FY 2007 consolidated turnover is expected to reach 185.0 mil. euro unchanged form our previous estimation, marking an increase of 23.0% over FY 2006, when consolidated turnover amounted to 150.4 mil. euro Excluding the STEEL CENTER SA operations, whose activity and results were consolidated due to common management even though KALPINIS-SIMOS holds a 0% participation, the group turnover for FY 2007 will form, unchanged from the original projections, at 159 mil. euro increased by 17.5% from FY 2006, when group turnover amounted to 136.32 mil. euro.
Consolidated earnings before interest, taxes, depreciation & amortization (EBITDA), are anticipated to increase between 25.5% and 29.5% over FY 2006, standing between 19.2 mil. euro and 19.8.mil. euro in relation to original projections of 21.4 mil. euro Respectively, net after taxes and minorities earnings are expected to stand between 9.5 mil. euro and 10.0 mil. euro for FY 2007 versus 10.5 mil. euro of the previous projection, increased between 53.2% and 61.3% over FY 2006. This moderate ease between 5% to 9% in the net results from the original projections is mainly attributed to the change at raw material prices, that is steel prices, as well as to the drop in sales prices of finished products.
It is noteworthy that the effect on A.KALPINIS-N.SIMOS SA results of the change in the international steel prices is moderate and in any case is much lower from the industry average.
Note: More information about A.KALPINIS - N.SIMOS S.A. is available at the company's website: www.kalpinis-simos.gr