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Tiles

Panariagroup reports a good first quarter

May 18, 2005
18/05/05 Panariagroup (brands Panaria, Lea, Cotto d’Este, Fiordo and Margres) has reported a strong start to the year.
The value of production totalled 61.9 million euro, 3.6% up on the 59.7 million euro of the first quarter of 2004. Net revenues from sales totalled 57 million euro (compared to 56.9 million euro in the first quarter of 2004).
As for profitability, gross operating margin (EBITDA) totalled 10 million euro, in line with 2004 figures. Instead pre-tax profits (EBIT) rose from 6.1 million euro in the first quarter of 2004 to 7 million euro in the corresponding period in 2005.

The breakdown of revenues by brand reveals growth by Panaria (+5.1%), Fiordo (+17%) and Margres and substantial stability for Lea. Cotto d’Este instead showed a contraction, mainly as a result of the market slowdown in Belgium and Holland.

As for the geographical distribution of sales, strong performances were posted in the United States (+14.1%), France (+10.6%) and Germany (+5.1%).

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