Board approves 2004 Financial Statements

Mar 18 2005
Price sensitive
Board approves 2004 Financial Statements, which report strong earnings growth

• consolidated net profit up 25% to €128m (€102.1m in 2003); 55% increase over 2-year period 2003-2004
• dividend of €1.70 per share proposed, up 20% on €1.41 of 2003
• aggregate value of production, net of acquisitions up 29% to €1,973.2m (€1,525.5m in 2003)
• operating profit including income from equity participations up 23% to €157.5m (€128.1m in 2003)
• market value of assets under management €10.7bn (€9.7bn and 26% in 2003)
• net debt of €35.4m(€40.9m at end of september and €9.2m at end of 2003
• Shareholders’ equity €510.4m(€421.6m at end of 2003)
• 2005 expected growth in line with targets set in three-year plan (2003-2005)