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KORRES Q1 2008 Results
Date:5/13/2008


ATHENS, May 13 /PRNewswire-FirstCall/ --

- Significant Increase by 31,6% in Sales and 10,3 % in Net

Profitability for KORRES Natural Products Group

- Increase by 31,6% of the Consolidated Sales to EUR 11,3m in the First

Quarter of 2008 (from EUR 8,6m in the Corresponding Quarter of 2007)

- Increased by 12,7% of the Consolidated EBITDA to EUR 2,6m (from EUR

2,3m in the Respective Period of 2007)

- Net Profits (EAT) Increased by 10,3% to EUR 1,5m (from EUR 1,4m in

the First Quarter of 2007)

In the first quarter of 2008, KORRES Natural Products Group sales, increased by 31,6% to EUR 11,3m from EUR 8,6m in the corresponding quarter of 2007, driven by increased sales in most product categories. In particular, significant rise of 70,9% has been presented by the face category driven by an important increase in sales in the international markets ,and as well as the body category (+18,8%) with the development of body care products and of Kings & Queens that have been launched in the market in the second half of 2007. Further more, double digit growth of 11,1% has been presented also by the hair products.

The Group, continuing its dynamic expansion in the international markets, increased its participation of the international sales in the total turnover to 26,6% from 11,5% in the corresponding quarter of 2007.

Earnings before interest, taxes, depreciation and amortization (EBITDA) reached EUR 2,6m from EUR 2,3m in the first quarter of 2007, enhanced by 12, 7%, and the net profit after taxes amounted EUR 1,5m from EUR 1,4m, presenting an increase of 10, 3%, a result of the increased operating profitability and the reduced efficient tax rate by 2 percentage points.

The Group continued also in the first quarter of 2008 to reinforce its presence in the international markets and to enhance its brand awareness with the opening of 3 new KORRES stores in Paris, in Neuchatel and La Cha
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SOURCE KORRES Natural Products Group
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