2004

30/06/2004 -First Half Results

A.G. PETZETAKIS S.A - in spite of the continuous increase in the price of raw materials - portrays a substantial overall improvement in its financial figures for the 1st Half of 2004, both at parent company as well as at group level.

In further detail, Petzetakis Group reported a turnover of 112 mil Euros in comparison to 97.8 mil euros – corresponding an increase of 14.5% from 2003. EBITDA reached 12.1 mil euros – an increase of 17% - from 10.3 mil euros last year. Operating Revenues reached 7.3 mil euros representing an increase of 43.6%. Net earnings before taxes reached 4.3 mil euros in comparison to 3.5mil euros in 2003 forming an increase of 24.6%.  

The parent company, A.G.PETZETAKIS S.A., reported a turnover of 39.8 mil euros – an increase of 28.2% compared to 31.1 mil euros in 2003. On the same note, the company presented an increase in net earnings before taxes that reached 1.04 mil euros compared to 0.39 mil euros in the previous year.

 It should be noted here that the group presented a substantial increase in its sales volume reaching 63.8 thousand tons in relation to 52.9 thousand tons in 2003 – an increase of 20.5%. This increase is mostly due to the substantial boost in the sales figures of the parent company that portrays an overall improvement in its figures and especially export sales that marked a growth rate of 42% in relation to the respective rate of 2003.  

For further information, please do not hesitate to contact Mr. Kanellopoulos at 210 89 37 100 or the Investor Relations Dpt at 210 89 37 353 ( e-mail: investor_relations@petzetakis.gr. )

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