Balance sheet figures confirm the Panaria Group's stability

Panaria Group has closed 2007 with results in line with those of the previous year.
An excellent performance in European markets has raised turnover to 354.4 million euro (2.9 million euro more than in 2006). In particular, turnover generated by the Italian market (29% of the total) remains stable at last year's values while maintaining the substantial market share unchanged. The Group has seen a 6.4% increase in its European sales (43% of total turnover), with significant increases in the main Eastern European countries.

The critical and stagnant situation of the US market has impacted negatively on the turnover of the subsidiary Florida Tile (-16%), whereas the dollar turnovers of the Group's European companies have increased by about 3%.

Operating margins have remained at good levels: EBITDA at 49.6 million euro (49.9 million euro as of December 2006) and EBIT 30.6 million euro (31.7 million euro at 31 December 2006).
Consolidated net profits amounted to 14.1 million euro, slightly down on the 2006 result which benefited from an extraordinary fiscal item.