PRESS RELEASE
The management of the Sarantis Group proceeded in a positive forecast on the results of the next two years.
Specifically, the net sales of the Group are forecasted to reach the amount of 246 million euros in 2004, increased by 6% with respect to 2003, while in 2005 they will, increase by 8% with respect to 2004, reaching the amount of 265 million euros.
In these forecasts, the possible growth resulting from new take overs by the Group in Greece and Eastern Europe is not included.
Moreover, the Sarantis’ management forecasts are also positive as far as profits per share of the company are concerned, which are expected to rise in impressive rates during the next two years.
More specifically, the after tax and minority rights profits are expected to reach the amount of 15.5 million euros for the year 2004 and 18 million euros for the year 2005, increased by 38% and 16% respectively with respect to the previous year. The increase in the profits per share will be somewhat similar as no key changes are expected in the relative period as far as the number of the Group’s shares is concerned.
The above mentioned positive perspectives for the Sarantis Group are owed to the following parameters:
Firstly, to the firm developmental strategy of the last 3 years, based on the expansion of the Group in Eastern Europe.
Secondly, on the possibility of limiting the operational cost, through a series of mergers of the Group’s subsidiaries in Greece and Poland.
Thirdly, on the increase of the mixed profit margin resulting from the improvement programmes for all the factors that affect the products’ cost.
Within that framework, a reduction of 30% of the Group’s total loaning is expected and therefore, it will reach, until the end of 2004, the amount of 85 million euros with respect to the 118 million euros reached at the end of 2003.
Moreover, according to the Sarantis’ management forecasts, the prospects of increase in consumer products demand in the countries of Eastern Europe, are expected to be optimistic for the next 5 years and especially in countries that are members or are expected to become members of the European Union and in which the Group has established subsidiaries.
Finally, an expansion of Sarantis is planned, firstly in the markets of Turkey and Russia and on a later stage, in that of Ukraine, as these countries have similar perspectives with regard to consumer products demand
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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