M.J.Maillis Group - Consolidated Results for the first three months of 2000

M.J.Maillis Group announces its consolidated results for the first three months of 2000:-Consolidated Group sales of 14.6 billion GRD versus 6.7 billion GRD in 1999, resulting in an increase of 117%.- Consolidated Group E.B.I.T.D.A of 3.3 billion GRD versus 1.8 billion GRD in 1999, resulting in an increase of 82%.- Consolidated Group E.B.T. of 1.7 billion GRD versus 1.3 billion GRD in 1999, resulting in an increase of 29%.The delay of the company's capital increase and the introduction of Straptech SA in the Athen's Stock Exchange Market, resulted in the funding of the last acquisitions of the Group with short-term bank borrowing (bridge financing). The non-operating financial expenses that were created due to the above justify the inadequate growth of the E.B.T. margin.After the completion of the company's capital increase and the immediate repayment of the bridge financing, the Group E.B.T. growth will be in line with Group's growth on sales. It should be mentioned that strategic acquisitions are expected to be completed within a short period of time, which will not only further enlarge the Group, but will also add new serious synergies.

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