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Group Financial Performance Q4 & 12M 2004 (pro forma)

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Presentation on theme: "Group Financial Performance Q4 & 12M 2004 (pro forma)"— Presentation transcript:

1 Group Financial Performance Q4 & 12M 2004 (pro forma)

2 2 12M 2004 - Financial Highlights Underperformance relative to 2003 - Turnover -8.6% to €477.6 m - Gross Profit -5.9% to €75.1 m - EBITDA -14.6% to €60.4 m - EBIT -16.4% to €51.8 m - Pre-Tax Profit after minorities -19.4% to €46.3 m Easing profit margins - Gross margin 15.7% (vs 15.3% in 12M 2003) - EBITDA Margin 12.7% (vs 13.5%) - EBIT Margin 10.8% (vs 11.8%) - Pre-Tax Margin 9.7% (vs 11.0%)

3 3 4 th Quarter 2004 - Financial Highlights Decline in results versus Q4 2003 - Turnover -51.7% to €72.8 m - Gross Profit -33.2% to €16.4 m - EBITDA -55.3% to €9.1 m - EBIT -64.8% to €6.9 m - Pre-Tax Profit after minorities -70.8% to €5.2 m Profit margin squeeze - Gross margin 22.6% (vs 16.3% in Q4 2003) - EBITDA Margin 12.5% (vs 13.5%) - EBIT Margin 9.4% (vs 12.9%) - Pre-Tax Margin 7.1% (vs 11.8%)

4 Group Results – 2004 pro forma 4 amounts in € m12M 200412M 2003chg Turnover477.6522.8-8.6% Gross Profit75.179.8-5.9% Other Income1.60.5 Operating Expenses24.918.6 Financial Results-2.5-1.5 Extraordinary Results-0.40.2 Depreciation10.811.0 -included in operating cost8.68.9 Minorities0.0-0.1 Tax Adjustments0.41.0 Pre-Tax Earnings after Minorities 46.357.4-19.4% EBITDA60.470.8-14.6% EBIT 51.861.9-16.4%

5 Group Results – 4 th Quarter pro forma 5 amounts in € mQ4 2004Q4 2003chg Turnover72.8150.8-51.7% Gross Profit16.524.6-33.2% Other Income0.10.2 Operating Expenses9.75.3 Financial Results-0.9-0.6 Extraordinary Results-0.20.0 Depreciation2.71.3 -included in operating cost2.20.8 Minorities0.0 Tax Adjustments0.10.6 Pre-Tax Earnings after Minorities 5.217.8-70.8% EBITDA9.120.3-55.3% EBIT 6.919.5-64.8%

6 Consolidated Balance Sheet amounts in € m12/2004 09/2004 12/2003 Start-Up Expenses0.9 1.1 1.5 Fixed Assets168.9 169.4 168.8 Current Assets195.8 220.1 197.3 Transitory Accounts41.0 24.1 25.7 Total Assets406.6 414.7 393.3 Shareholders’ Funds254.0 247.9 254.9 Provisions3.0 2.4 2.5 Liabilities149.3 164.2 135.2 Transitory Accounts 0.3 0.2 0.7 Total Liabilities406.6 414.7 393.3 Net Debt23.3 41.0 -15.4 Capex 5.1 3.7 12.0 6

7 Group Financial Highlights amounts in € m20002001200220032004 Turnover296.7368.5445.5523.4523.4477.6 Gross Profit50.558.268.878.975.1 EBITDA38.551.158.469.860.4 Pre-Tax Earnings (after minorities) 28.028.040.844.756.846.3 Net Earnings15.622.028.534.6n/a Shareholders’ Funds 187.6201.3203.7207.5254.0 EPS€0.38 * €0.30€0.39€0.47n/a DPS€0.10 €0.30€0.32n/a Capitalisation ( 25/02/05)€313 m 7 * adjusted for rights issue Note: Figures for 2004 are based on the year-end pro forma accounts, whereas past years’ figures refer to the annual accounts

8 Annual Financial Performance 8

9 Quarterly Financial Performance 9

10 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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