31.08.2006

IMAKO MEDIA S.A. notifies the following by a press release to Athens’ Stock Exchange:

The Company’s turnover during the first semester of 2006 amounted to 20.029.000 Euros compared to 16.466.000 Euros in the respective period of last year, presenting a significant increase of 22%.

The gross profits in 2006 amounted to 4.678.000 Euros compared to 5.362.000 Euros in 2005, decreased by 11%. The earnings before interest, taxes, depreciation and amortization in 2006 amounted to 958.000 Euros compared to 1.907.000 Euros in 2005, that is, decreased by 49,76%. Finally, the net profit/losses before taxes in 2006 amounted to a loss of 246.000 Euros compared to profits of 1.071.000 Euros in 2005, while the net profits after taxes in 2006 amounted to a loss of 259.000 Euros compared to profits of 1.437.000 Euros in 2005. The decline presented in the first semester of 2006 in comparison with the first semester of 2005, is due mainly to the circulation of four new magazines, two of which circulated in November 2005, and one of them in May 2006, so that the launching and advertisement expenses as well as the production expenses were particular high. The normalization of financial sizes is expected within 2006, as the circulation of new magazines is proven to begin producing revenues from advertisements as well as from their circulation after a significant time period which in average is 8 to 12 months upon circulation.
 
At a Group level the consolidated turnover presents an increase of 24% while the gross profits amounted to 5.434.000 Euros in the first semester of 2006 compared to 5.937.000 in the respective period of last year. The earnings before interest, taxes, depreciation and amortization amounted to 1.069.000 Euros compared to 1.987.000 Euros in 2005, that is decreased by 46,2%. Finally, the net profits/losses before taxes amounted to losses of 272.000 Euros in 2006 compared to profits of 956.000 Euros in 2005, while net profits after taxes and the minority rights in 2006 amounted to losses of 352.000 Euros compared to profits of 1.223 Euros in 2005.

ATHENS  31.08.2006