Granitifiandre reports first quarter growth and strengthens its position

May 15, 2007

15/05/07 - The first quarter results posted by Granitifiandre include consolidated revenues of 56.4 million euro (20.7% up on the first quarter of 2006), brand revenues of 42.5 million euro (30.2% up on the first quarter of 2006), EBITDA of 9.9 million euro and EBIT of 6.4 million euro.
The Castellarano-based group has begun 2007 with superior results to the budget forecasts unveiled on 26 February at the Investor Day in Castellarano (province of Reggio Emilia).

Increases were achieved in all the major areas where the group operates: Italy (+5.4%), Europe (+16.4%) and the rest of the world (+55.7%).

One of the highlights of the period was the acquisition by the American subsidiary StonePeak of 60% of Architectural Imports, a sales company founded in 1987 specialising in the sale and design of innovative high-quality floor and wall tiles.
The operation, costing USD 5.2 million, will allow StonePeak to speed up the process of consolidation and growth in the American market.