PRESS RELEASE
Main Points
- Consolidated turnover increase by 11.38% to €54.38 mil. in Q1 2007 from €48,83 mil. in Q1 2006.
- EBITDA margin increased to 15.52% in Q1 2007 from 13.39% in Q1 2006.
- EPS increase by 22.51% to €0.14 in Q1 2007.
- Fragrances & cosmetics demonstrated the highest increase on a yearly basis by 20.76% to €21.60 mil.
- Foreign markets demonstrated higher growth rates as compared to the domestic market, raising their contribution to the total consolidated revenues.
Financial Results
Consolidated turnover for Q1 2007, amounted to €54,38 mil., compared to €48.83 mil. in Q1 2006, increased by 11.38%.
It should be noted that during Q1 2007 we observed a satisfactory growth in the two basic sectors of activity, the fragrances & cosmetics and the household products, but also a strong activity growth in the Eastern European markets.
The Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) reached €8.44 mil. in Q1 2007, compared to €6.54 mil. in Q1 2006, an increase of 29.14%.
The Earnings before Interest and Tax (EBΙΤ) in Q1 2007 amounted to €7.57 mil., increased by 34.01% compared to Q1 2006 that stood at €5.65 mil.
The Earnings before Tax for Q1 2007 amounted to €7.32 mil. compared to €6.10 mil. in Q1 2006, resulting to an impressive increase of 19.87%.
The Earnings after Tax and Minorities (ΕΑΤΑΜ) reached €5.48 mil. in Q1 2007, compared to €4.47 mil. in Q1 2006, increased by 22.51%.
Business Activity Analysis
Consolidated turnover breakdown per business activity is reported through four categories: fragrances & cosmetics, household products, health & care products and other sales.
The own products managed a very successful growth for both sectors of fragrances & cosmetics and household products.
Other sales account for 10.80% of total turnover, and health & care products for 9.17%. The significant increase of fragrances and cosmetics (+20.76%), of household products (+18.71%) and of health and care products (+7.60%) is worth mentioning. Specifically, household products represent the 40.31% of the total consolidated turnover followed by the fragrances & cosmetics with 39.72%. Own products increase reached 19.02% for fragrances & cosmetics and 19.91% for household products.
With respect to EBIT the largest contribution in Q1 2007 came from the fragrances & cosmetics with 37.16% followed by the other sales with 27.62%. The household products contributed with 27.39% followed by health & care products with 7.83%.
The EBIT breakdown for fragrances & cosmetics and household products between own products and distributed products results to 4.11 mil. euro in Q1 2007 for the own products, compared to 3.36 mil. euro in Q1 2006, an increase of 22.43%.
Geographic market Analysis
Analysing the geographic distribution of Sarantis Group turnover, we observe that the turnover in the Greek market represents the 48.14% of total turnover, while the remaining 51.86% (€28,20 mil.), represents the Group’s turnover in foreign markets. It is noted that compared to Q1 2006, Sarantis Group turnover in the old countries increased by 28.85%, whereas the turnover in the new countries increased by 14.55%.
Sarantis Group holds a leading ‘packaging product’ position in Greece but also in Bulgaria, Romania, Serbia and Poland. Additionally, it holds a leading position in the male ‘fragrances & cosmetics’ market in Greece, Bulgaria, Romania, & Serbia.
The most important foreign markets in terms of growth remain those of Czech Republic (+40.37%), FYROM (+39.06%), Romania (+33.63%) and Poland (32.57%), while the markets of Russia and Hungary started creating income in comparison to Q1 2006. It is important to note that Sarantis Group is focused on adjusting the penetration model in the new countries (Turkey, Hungary and Russia) and assigning national distributors to execute the distribution of its products in order to offset costs and achieve critical mass.
Analysing the geographical distribution of Sarantis Group EBIT we observe satisfactory results in Greece that reported a significant increase by 12.72% reaching €5.76 mil., with the old markets also reporting significant increase by 189.39%.
Financial Results Analysis
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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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