Etropal Posts 1.7 Mln Leva Net Consolidated Profit

Etropal Posts 1.7 Mln Leva Net Consolidated Profit

The net consolidated profit of Etropal Jsc surged 3.4 times y/y to 1.7 mln leva. The group's profit accounts for 1.5 mln of it. 2006 net profit stood at 505,000 leva (the group was responsible for 496,000 leva) of it.

Profit before interest, taxes and depreciation (EBIDTA) came to 2.9 mln leva (1.482 mln euros), against 1.5 mln in 2006. Operation costs grew 24%, from 10.6 mln in 2006 to 13.1 mln (6.69 mln euros).

Consolidated revenues have soared nearly 34% - from 11.7 mln to 15.7 mln leva (8.027 mln euros) in 2007.

On December 31 the company's own capital stood at 7.2 mln leva (3.681 mln euros), compared with 2.1 mln a year ago, which is an increase of 239%.

Assets rose 2.4 times – from 8.9 mln to 21.4 mln leva (10.941 mln euros).

The consolidated report of Etropal includes the following subsidiaries: IB Medica Italy, Fibra, Etropal Trade and Dialysis Etropal Beta. The two newly established companies – Fibra and Mediac Jsc posted revenues in the amount of respectively 3 mln and 2.3 mln leva for the seven months since their foundation.

This is Etropal Jsc's first consolidated annual report. The comparison of data is against results posted on 31 December 2006.

In February 18 the Financial Supervision Commission confirmed a prospectus for floating of an issue of corporate bonds. The issue's value stands at 2 mln euros allocated in 2,000 secured bonds with a nominal value of 1,000 euros each, floating interest and 3-month EURIBOR +3.25% a year.

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