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Group Financial Performance Q4 & 12M 2003 (pro forma)

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Presentation on theme: "Group Financial Performance Q4 & 12M 2003 (pro forma)"— Presentation transcript:

1 Group Financial Performance Q4 & 12M 2003 (pro forma)

2 2 2003 - Financial Highlights Sharp improvement over 2002 - Turnover +17.3% to €522.8 m - Gross Profit +19.3% to €79.8 m - EBITDA +21.9% to €70.7 m - EBIT +28.7% to €61.8 m - PreTax Profit after minorities +28.5% to €57.4 m Widening profit margins - Gross margin 15.3% (vs 15.0% in 2002) - EBITDA Margin 13.5% (vs 13.0%) - EBIT Margin 11.8% (vs 10.8%) - Pretax Margin 11.0% (vs 10.0%)

3 3 Q4 2003 - Financial Highlights Sharp improvement over 2002 - Turnover +18.2% to €150.8 m - Gross Profit +14.1% to €24.6 m - EBITDA +24.5% to €20.4 m - EBIT +37.5% to €19.6 m - PreTax Profit after minorities +41.1% to €17.8 m Widening profit margins - Gross margin 16.3% (vs 16.9% in Q4:2002) - EBITDA Margin 13.5% (vs 12.8%) - EBIT Margin 13.0% (vs 11.2%) - Pretax Margin 11.8% (vs 9.9%)

4 Group Results – Full Year 4 amounts in € m20032002chg Turnover522.78445.5317.3% Gross Profit79.8366.9219.3% Other Income0.651.16 Operating Expenses18.6320.03 Financial Results-1.55-0,74 Extraordinary Results0.16-0,68 Depreciation11.0512,00 -included in operating cost8.889.96 Minorities-0.07-0.13 Tax Adjustments0.970.05 PreTax Earnings after Minorities 57.3944.6728.5% EBITDA70.7258.0121.9% EBIT 61.8548.0628.7%

5 Group Results – Q1 2003 5 amounts in € m Jan-Mar 2003 Jan-Mar 2002 chg Turnover111.5492.8920.1% Gross Profit18.1314.4925.1% Other Income0.110.09 Operating Expenses4.194.844.84 Financial Results-0.25-0.11 Extraordinary Results0.040.030.03 Depreciation3.122.50 -included in operating cost2.582.50 Minorities-0.10-0.02-0.02 Tax Adjustments0.00-0.02-0.02 PreTax Earnings after Minorities 13.409.6938.3% EBITDA16.6312.2535.8% EBIT 14.059.7444.2%

6 Group Results – Q2 2003 6 amounts in € m Apr-Jun 2003 Apr-Jun 2002 chg Turnover133.71115.4115.9% Gross Profit20.3717.5616.1% Other Income0.200.38 Operating Expenses5.345.93 Financial Results-0.33-0.27 Extraordinary Results0.000.73 Depreciation3.253.80 -included in operating cost2.713.80 Minorities-0.04-0.03 Tax Adjustments-0.03-0.05 PreTax Earnings after Minorities 14.3712.4515.4% EBITDA17.9415.8113.4% EBIT 15.2312.0126.8%

7 Group Results – Q3 2003 7 amounts in € m Jul-Sept 2003 Jul-Sept 2002 chg Turnover126.76109.6915.6% Gross Profit16.7013.2925.7% Other Income0.120.21 Operating Expenses3.821.43 Financial Results-0.40-0.13 Extraordinary Results0.12-0.35 Depreciation3.323.10 -included in operating cost2.781.51 Minorities0.030.05 Tax Adjustments-0.310.00 PreTax Earnings after Minorities 11.859.9519.2% EBITDA15.7813.5916.2% EBIT 13.0112.077.7%

8 Group Results – Q4 2003 8 amounts in € m Oct-Dec 2003 Oct-Dec 2002 chg Turnover150.78127.5218.2% Gross Profit24.6221.5814.1% Other Income0.220.47 Operating Expenses5.287.83 Financial Results-0.57-0.23 Extraordinary Results0.00-1.08 Depreciation1.362.60 -included in operating cost0.822.15 Minorities0.04-0.13 Tax Adjustments0.630.00 PreTax Earnings after Minorities 17.7812.5941.1% EBITDA20.3716.3724.5% EBIT 19.5614.2237.5%

9 Consolidated Balance Sheet amounts in € mQ4:03Q3:03Q2:03Q1:03Q4:02 Start-Up Expenses1.551.721.791.991.86 Fixed Assets168.75171.95171.89169.37167.70 Current Assets197.30150.88161.95139.36101.06 Transitory Accounts25.7129.8025.6815.5743.37 Total Assets393.31354.35361.31326.29314.09 Shareholders’ Funds254.92242.41231.23217.20242.97 Provisions2.451.711.671.29 Liabilities135.23110.07128.24107.7669.65 Transitory Accounts0.710.160.170.040.18 Total Liabilities393.31354.35361.31326.29314.09 Net Debt-15.4015.8615.8120.063.42 Capex11.9710.316.993.527.597.59 9

10 2004 Projections amounts in € m2000200120022003 Turnover296.7368.5445.5522.8 EBITDA38.551.158.070.7 PreTax Earnings (after minorities) 28.040.844.757.4 EPS (pretax)€0.69 a €0.56€0.61€0.78 Market Capitalisation b 348.4 P / E (pretax) b 6.16.1 Notes a. Adjusted for Share Capital Increase b. Based on price close of 26/02/2004 1010

11 Quarterly Financial Performance 11

12 Full-Year Financial Performance 12

13 INVESTING IN THE FUTURE Investor Relations Officer Angelos Kiosklis 9 Frangokklisias St, 151 25, Marousi, Greece tel +30-210-6185592 fax +30-210-6185698 email akiosklis@jp-avax.gr

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