31.05.2006

The Company IMAKO MEDIA S.A. notifies the following by a Press Release to Athens Stock Exchange:
 
The Company’s turnover during the First Quarter of 2006 amounted to € 7.760.000 compared to € 5.944.000 in the respective period of last year, presenting a significant increase of 30%.
The gross profits amounted to € 1.560.000 in 2006 compared to € 1.833.000 in 2005, decreased by 14,8%, while the gross profit margin was 20% in 2006 compared to 30% in 2005. The earnings before interest, taxes, depreciation and amortization, amounted to € 345.000 in 2006 compared to 487.000 in 2005, that is decreased by 29,16%. Finally, the net profits/losses after taxes amounted to losses of € 422.000 in 2006 compared to profits of € 58.000 in 2005. The total decline presented in the First quarter of 2006 in comparison with the First Quarter of 2005, is due to the circulation of three new magazines within 2005, two of which circulated during the last quarter of 2005, so that the launching and advertisement expenses as well as the production expenses were particularly high. The traditionally small turnover of the First Quarter does not suffice to support the new titles’ development and promotion expenses and the periodical support of the older ones. The normalization of the financial sizes is expected within 2006, since the circulation of new magazines is proven to begin producing profits from advertisements and their circulation after a significant time period, which in average is a period of 8 to 12 months upon circulation.

At a Group level the consolidated turnover presents a significant increase of 30%, while the gross profits amount to € 1.821.000 in the First Quarter of 2006 compared to € 2.080.000 in the respective period of last year. The gross profit margin was 22% in 2006 compared to 32% in 2005. Finally, the net profits/losses after taxes amounted to losses of € 354.000 in 2006 compared to losses of € 97.000 in 2005.
 
ATHENS   31.05.2006