PRESS RELEASE
Mr. Nikolaos Kefalas, Vice Chairman of Sarantis Group, addressed the Union of Greek Brokerage Firms (SMEHA) and presented the Group’s investment plans over the following three years.
The Group completed a successful year in 2004, generating sales of EUR 249 million (+7% as compared to the financial year 2003), and profit before taxes and after minorities of EUR 21.3 million (+38% year-on-year). Sarantis Group plans to proceed with significant investments during the following three-year period.
The major part of Sarantis investment strategy is the Group’s expansion in the Eastern Europe, a geographic region, which generated 29% of total sales and 16% of profit before taxes on a consolidated basis during 2004.
Sarantis plans a series of actions aiming at the introduction of new products, as well as the stronger position of the Company’s existing brands in Greece and Eastern Europe.
In addition, the Group targets the expansion of its business activities in three new markets, Turkey, Ukraine, and Russia, which will constitute major investment destinations for Sarantis Group over the following three years.
Finally, the Company’s Management plans a series of actions aiming at the maximization of net earnings per share.
Specifically, the Management will make efforts in order to strengthen the gross profit margins, reduce the cost of debt and improve the Group’s tax rate. With regard to the financial year 2005, Sarantis’ Management projects sales of EUR 265 million (+6.5% as compared to 2004), and profit before taxes and after minorities of EUR 24 million, higher by 12% on an annual basis.
In addition, Sarantis’ Management notes that the above estimates have been made according to the Greek GAAP, and do not include the effect from any expansion in new geographic markets or possible acquisitions.
Finally, according to the Company’s Management, Sarantis Group’s prospects appear equally positive for the financial years 2006 and 2007.
Contact
SARANTIS Group
26, Amaroussiou - Halandriou Street
151 25 Maroussi, Athens, Greece
Tel: +30 210 6173000
Fax: +30 210 6197081
e-mail: group-info@sarantisgroup.com
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