Space Hellas exhibits an increase in turnover and maintains stable earnings after taxes, according to the financial statements of Q1 2011.

The consolidated turnover for Q1 2011 reached € 9.3 million compared to € 8.7 million in Q1 2010, while the respective consolidated earnings after taxes remain stable, reaching € 110 thousand, compared to € 109 thousand in Q1 2010.

The consolidated Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for Q1 2011 exhibit a 13% increase, reaching € 881 thousand, compared to € 780 thousand in Q1 2010. Moreover, Q1 2011 earnings before taxes reached € 164 thousand compared to € 124 thousand in Q1 2010.

According to Q1 results of the parent company, the turnover reached € 9 million in 2011 compared to € 8.6 million in Q1 2010, while the Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) in 2011, reached € 785 thousand compared to € 707 thousand in 2010. Finally, earnings before taxes for the parent company in 2011, reached € 51 thousand compared to € 42 thousand in Q1 2010, while respective earnings after taxes reached € 11 thousand in 2011, compared to € 37 thousand in 2010.

It should be noted that the group’s focus on a carefully targeted customer base together with the simultaneous improvement of operating profits (EBITDA, EBIT), constitute the key strategic priorities of Space Hellas for 2011.