Granitifiandre achieves growth in 2006
The Group reported increases in all geographical areas in which it operates, particularly outside Europe where sales rose by 26.9%.
The increase in turnover from Granitifiandre brand products was particularly significant with sales of 142.3 million euro, 12.2% up on the 126.8 million euro of 2005.
- Turnover growth was reported in all the major countries of central and Eastern Europe (Russia +72%, Holland +57%, Romania +18%, Sweden +39%, Czech Republic +11%, Eire +53%, Ukraine +27%, Poland +17%, Hungary 9%), largely due to the positive contribution of the German subsidiary Porcelaingres, whose sales amounted to 20.5 million euro (+9.5%). In the European market there was also significant growth in France (+15%) and Spain (+33%).
Gross operating margin (EBITDA) for the year reached 28.6 million euro, 13.9% up on the previous year’s 25.1 million euro. Operating result (EBIT) increased by 14.6% in 2006 to reach 14.4 million euro.
During 2006 the network of Geologica brand stores increased to 72, of which 48 are outside Italy. Stores are soon to be opened in Miami, USA and Guangzhou, China.
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