Eurodrip (ATH:EDRIP)

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Eurodrip's Positive Q1 2010 Results

ATHENS, GREECE -- (Marketwire) -- 06/01/10 -- For the first quarter 2010 Eurodrip (ATHEX: EDRIP) posted Consolidated Earnings before Tax of EUR 2.005 million (10.2% on sales) compared to EUR 2.001 million (9.8% on sales) in the first quarter 2009.

Consolidated Turnover of EUR 19.743 million was 3.6% down to Q1 2009, due to deflated PE Raw material prices. Volume sales posted a strong 10% surge to past year.

Consolidated Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) amounted to EUR 3.154 million (16% on sales) vis a vis EUR 3.300 million (16% on sales) for the first quarter 2009.

Financial results of the parent company are as follows:

  • Earnings before Tax reached EUR 0.670 million (8.6% on sales) compared to EUR 0.818 million (8.9% on sales) for the first quarter 2009.

  • Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) amounted to EUR 1.212 million (15.6% on sales) compared to EUR 1.345 million (14.7% on sales) for the first quarter 2009.

  • Turnover amounted to EUR 7.755 million versus EUR 9.122 million in 2009, decreased by 15%.

Despite adverse weather conditions and a slow emerging of the agriculture markets from the 2009 crisis, Eurodrip managed to post positive financial results.

Eurodrip S.A. is subsidiary of Global Capital Investors II fund, with Global Finance, the leading Private Equity firm in South East Europe, being the consultant.

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