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Kaolin AD’s Management Has Met the Investment Community and the Financial Media
The Consolidated Report Has Indicated Double Growth in Kaolin AD’s Profit for Year 2007
26 February 2008. Kaolin AD’s management presented before the investment community and the financial media the results under the annual consolidated financial statements for year 2007. Mr. Konstantin Nenov, Chairman of the Supervisory Board, made a brief review of the activities of Kaolin’s Economic Group throughout the past year and submitted a summary of the financial results on consolidated basis. According to its preliminary financial statements, Kaolin AD’s Economic Group has earned sales income to the amount of BGN 117.6 mln. for year 2007, which is in fact an increase in sales by 30.5 % compared to the same period in 2006. Along with its subsidiaries, the Company has maintained its growth rate in terms of sales income in all main sectors of activities undertaken.
The Group’s net profit earned in year 2007 (after deducting minority shareholding) amounts to BGN 18.14 mln.
The Group’s consolidated financial result before interest, taxes and depreciation amounts as high as BGN 24.8 mln., compared to nearly BGN 19.9 mln. for the financial 2006.
The subsidiaries add up turnover to the amount of BGN 12.2 mln. to the Kaolin AD’s non-consolidated turnover of BGN 105.4 mln. The main part of this additional turnover has been generated by Kaolin AD’s foreign participations, mainly in Serbia and Ukraine.
The main markets in 2007 on consolidated basis were: Bulgaria (39%), Romania (19%, almost two-times growth in sales compared to the preceding year), Turkey (11.7%), Italy (10.8%), Serbia (10%), Egypt (5.5%) and Ukraine (2.6%). ‘There has not been any change with regard to our investment policy as underlying the Prospectus’, declared Mr. Konstantin Nenov. ‘It continues to be rather ambitious and we are very careful in picking up the projects to invest in’.
The public company’s Chief Executive Director Aleksander Prokopiev presented the key tasks facing the Management in 2008, amongst which are continuing the geographical expansion, development and offering of new products and solutions for sanitary ceramics and construction. Investments are to be completed in technologies, leading to drastic reduction of waste and environmental emissions for the purpose of realising the Kaolin AD’s transition to a ‘green company’. Kaolin also envisages a number of measures to enhance the energy efficiency and reducing the energy dependability on fossil fuels. The Company plans the construction of a factory for production of photovoltaic panels in the town of Silistra that is to commence at the beginning of year 2009.
Presentation [download]
26 February 2008. Kaolin AD’s management presented before the investment community and the financial media the results under the annual consolidated financial statements for year 2007. Mr. Konstantin Nenov, Chairman of the Supervisory Board, made a brief review of the activities of Kaolin’s Economic Group throughout the past year and submitted a summary of the financial results on consolidated basis. According to its preliminary financial statements, Kaolin AD’s Economic Group has earned sales income to the amount of BGN 117.6 mln. for year 2007, which is in fact an increase in sales by 30.5 % compared to the same period in 2006. Along with its subsidiaries, the Company has maintained its growth rate in terms of sales income in all main sectors of activities undertaken.
The Group’s net profit earned in year 2007 (after deducting minority shareholding) amounts to BGN 18.14 mln.
The Group’s consolidated financial result before interest, taxes and depreciation amounts as high as BGN 24.8 mln., compared to nearly BGN 19.9 mln. for the financial 2006.
The subsidiaries add up turnover to the amount of BGN 12.2 mln. to the Kaolin AD’s non-consolidated turnover of BGN 105.4 mln. The main part of this additional turnover has been generated by Kaolin AD’s foreign participations, mainly in Serbia and Ukraine.
The main markets in 2007 on consolidated basis were: Bulgaria (39%), Romania (19%, almost two-times growth in sales compared to the preceding year), Turkey (11.7%), Italy (10.8%), Serbia (10%), Egypt (5.5%) and Ukraine (2.6%). ‘There has not been any change with regard to our investment policy as underlying the Prospectus’, declared Mr. Konstantin Nenov. ‘It continues to be rather ambitious and we are very careful in picking up the projects to invest in’.
The public company’s Chief Executive Director Aleksander Prokopiev presented the key tasks facing the Management in 2008, amongst which are continuing the geographical expansion, development and offering of new products and solutions for sanitary ceramics and construction. Investments are to be completed in technologies, leading to drastic reduction of waste and environmental emissions for the purpose of realising the Kaolin AD’s transition to a ‘green company’. Kaolin also envisages a number of measures to enhance the energy efficiency and reducing the energy dependability on fossil fuels. The Company plans the construction of a factory for production of photovoltaic panels in the town of Silistra that is to commence at the beginning of year 2009.
Presentation [download]