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Results: |
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Sales expected to ~ 50 million (following momentum from 1H) |
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Annual Growth: 42% |
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CAGR (2003 – 2007): 42% |
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Earnings in line with market expectations |
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Operations: |
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Plant utilizations in Both Komotini (GR) & Bradford (UK) close to practical capacity |
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Margins in waste plastic containers under pressure due to all time high HDPE – mitigated by sales mix |
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CAPEX: |
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83 million program (2007–2009)- 70% complete |
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Pisticci (IT) plant: On budget and time for Sep 08 start of operations |
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Komotini (GR) expansion: expected to be operational in Q1 2009 (slightly ahead of schedule) |
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Corporate Developments: |
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PYP (acquired in Dec 06) has merged with Helesi SA to simplify corporate structure |
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“Peri” Acquisition (Nov 07) expected to be earnings enhancing in 2008 |
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Operational integration for both acquisitions was successfully completed |
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Outlook for 2008: |
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Sales Visibility ~ 40% |
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Strong tender pipeline across all divisions |
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Unlikely to be affected by any global economy downturn |
