Corinth Pipeworks SA consolidated turnover in first quarter of 2009 marked a 47% YoY increase over the respective period of 2008 and stood at EUR 124 million versus EUR 84.4 million in 2008. ΕΒΙΤDΑ amounted to EUR 10.5 million versus EUR 8.7 million in 2008, marking a 21.1% increase over the 1st quarter of 2008, while EBITDA margin stood at 8.5% of the consolidated turnover, versus 10.3% in the respective period of 2008.

Consolidated earnings before tax amounted to EUR 6.5 million versus EUR 4.2 million the respective period the year before, while earnings after tax and minority rights marked an 81.8% increase and stood at EUR 6.5 million versus EUR 3.6 million in the first quarter of 2008.

Turnover marked a 46.4% accordingly and amounted to EUR 108 million versus EUR 73.9 million in the first quarter of 2008. EBITDA eased by 21% and formed at EUR 6.7 million versus EUR 8.5 million in the respective period of 2008 while earnings before tax stood at EUR 3.1 million versus EUR 5.7 million the year before. Finally, net after tax earnings amounted to EUR 3.6 million versus EUR 5.2 million.

Net debt of Corinth Pipeworks on a consolidated level amounted to EUR 78.1 million versus EUR 57 million as at December 31st 2008, while Shareholders Equity amounted to EUR 129.4 million for the group and EUR 126.9 million for the company, respectively.