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Press Releases

Increased turnover and stable earnings in the first quarter of 2011 for Space Hellas

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.

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