- Consolidated Turnover (Sales) increased by 13.0%, from 653.8 million EUR in third quarter 2005 to 738.8 million EUR in 2006, while for "ALFA-BETA" standalone Turnover (Sales) amounted to 717.3 million EUR from 633.0 million EUR in 2005, an increase by 13.3%.
- Consolidated Profit before Tax was significantly improved in comparison with third quarter of 2005, and amounted to 16.5 million EUR, from 7.6 million EUR in 2005. For "ALFA-BETA" standalone Profit before Tax amounted to 14.4 million EUR compared to 6.5 million EUR in 2005.
Our business in third quarter 2006: During the third quarter of 2006, "ALFA-BETA" continued its dynamic commercial policy by expanding its product assortment, especially in the premium private label ranges "AB choice" and "Alfabeta close to the Greek nature" and by focusing on an ever-improving value for money. Furthermore, in cooperation with Alpha Bank, "ALFA-BETA" participates in the Bonus program, a rewarding program of the bank''''s credit cards, offering this way further benefits to its customers.
Regarding Company''''s expansion, during Q3 2005, a new City store in Patra was added in its sales network, which now numbers 143 sales points, including 107 company-operated food retail stores, 10 cash-and-carry stores and 26 franchise stores.
Consolidated Turnover (Sales) reached 738.8 million EUR, an increase by 13.0% due to Company''''s dynamic commercial policy and the opening of new stores.
Consolidated Gross Profit increased by 14.4% from 138.2 million EUR in 2005 to 158.0 million EUR in third quarter of 2006. This increase, higher than that of sales, confirms the success of the commercial policy and the effective inventory management of the Company.
Consolidated Operating Expenses increased by 8.3% from 131.5 million EUR in 2005 to 142.4 million EUR in 2006. This increase, which is lower than that of sales and of gross profit, reflects the Company''s efforts to control operating costs and strengthen its competitiveness.
Consolidated Profit before Tax, Financial, Investing Activities, Depreciation and Amortization (EBITDA) amounted to 31.5 million EUR against 20.8 million EUR in 2005, showing an increase by 51.5% due to the increase in sales and gross profit while controlling operating expenses.
For the same reason Consolidated Operating Profit increased to 18.3 million EUR from 9.1 million EUR in third quarter of 2005.
Consolidated Profit before Tax amounted to 16.5 million EUR from 7.6 million EUR in 2005 and Consolidated Profit after Tax reached 10.4 million EUR against 5.2 million EUR in 2005.
2006 OUTLOOK
"ALFA-BETA" VASSILOPOULOS plans its expansion, by adding 7 new stores to its network by the end of the year, franchise stores included.
"ALFA-BETA" VASSILOPOULOS S.A.
ALFA-BETA VASSILOPOULOS S.A., is a food retail company established in 1969 and member of the Belgian Delhaize Group since 1992. At the end of 2005, the group ALFA-BETA operated 135 stores (101 company-operated food retail sales points, 10 Cash-and-Carry stores, & 24 franchise stores) and employed 6,744 people. In 2005, Consolidated Turnover amounted to EUR 908.0 million and Consolidated Net Profit before tax to EUR 22.1 million. "ALFA-BETA" VASSILOPOULOS S.A. is listed on the Athens Stock Exchange (BASIK) since 1990.