Corinth Pipeworks announced that its Financial Year 2007 Group turnover amounted to EUR 357.5 million as compared to EUR 319.4 million in FY 2006 up by11.9% YoY. Its EBITDA stood at EUR 57.5 million as compared to EUR 41.3 million in 2006 up by 39.3% YoY. EBITDA margin formed at 16.1% of the Group's turnover as compared to 12.9% in 2006.

Substantial increase by 106% marked earnings before tax, which amounted to EUR 40.1 million as compared to EUR 19.4 million in 2006, while net after tax and minorities earnings amounted to EUR 33.9 million as compared to EUR 36.4 million in 2006.

The parent Company results also marked a corresponding course during 2007. In specific, turnover in FY 2007 amounted to EUR 340.6 million as compared to EUR 304.2 million in FY 2006. EBITDA amounted to EUR 52.9 million as compared to EUR 41.5 million in FY 2006 up by 27.2% YoY while earnings before tax reached EUR 34.9 million.

Corinth Pipeworks said that the increase of sales turnover and the high profitability are mainly attributed to
1. The higher prices achieved by Corinth Pipeworks as a result of its strategic decision to penetrate high value added market segments, the execution of projects with strict technical specifications as well as the favorable market conditions in the international energy industry
2. The ongoing improvement of productivity and operating costs