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05.17.2006

Befesa presents its 2005 third quarter results

In the first quarter of the 2006 financial year, the sales of the Environmental Services Business Unit have increased by 28.9 million euro on the previous year?s figure, which is a 33.6 percent increase. This has been due, mainly, to the increase in the volume of wastes treated in all the Unit?s areas, but especially in the Aluminum Waste Recycling area, and to the increase in the work executed by the Environmental Engineering unit. The increase in the price of metals has also had a positive effect on the first quarter sales. The rest of the areas have had a volume of business similar to that of the first quarter of 2005.

2005 third quarter results
 March 2006March 2005Var (%)
Sales115.286.333.6 %
EBITDA11.79.621.4 %
EBITDA / Sales10.211.2-9.1 %
EAT4.83.632.9 %
EAT Parent3.93.414.9 %

As regards the Ebitda, it has increased by 2.1 million euro compared to 2005 (+21.4%). This is due, mainly, to the positive evolution of the aforementioned business units. The Ebitda/Sales ratio has dropped slightly to 10.2 percent, due mainly to the modification in the Business Unit?s sales mix.

Both the EAT and the EAT of the parent company have evolved positively in the first quarter of 2006 and have reached 4.8 and 3.9 million euro, respectively, which is 32.9% and 14.9% more than the figures achieved in the same period the previous year.