Consolidated revenues (revenues from sales of products) reached Euro 90.7 million in the first nine months of 2007, representing a change of +0.1% yoy.
Total consolidated operating costs excluding depreciation and amortization and after exclusion of realized and unrealized FX changes and MtM revaluation of swaps, were EUR 60.5 million, an increase of 2.6% yoy. Primary factors affecting these costs were rising prices of raw materials and electricity and also increases in staff costs.
Total raw materials and consumables used in the first nine months of 2007 amounted to Euro 57.4 million, a 3.1% increase on the same period last year due to rising polymer purchase prices and higher costs for electricity.
Total staff costs amounted to Euro 4.3 million in the first nine months of 2007, a 15.9% yoy increase. This was mainly the result of the implementation of a new remuneration scheme for Board members and management of the Company and the hiring of new employees (mainly for the 8th production line).
Total staff costs, denominated in Czech korunas, and went up by 14.4% yoy. At the end of September 2007, the Company employed 376 employees, representing an annual increase of 15% driven mainly by the recruitment of new employees for the 8th production line.
Other net operating income amounted to Euro 667 thousand in the first nine months of 2007, mainly driven by one-off income of Euro 1.03 million from compensation in an arbitration procedure. Realized and unrealized FX changes related mainly to balance sheet recalculations of bank loans and the mark-to-market revaluation of interest rate swaps at September 30th, 2007 created a loss of Euro 526 thousand for the given period. These FX changes and MtM revaluation of swaps had no cash impact on the Company.
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