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Heracles Group Announces 1st Semester 2010 Results


Heracles Group of Companies announced today sales of 211.92 million Euros for the first semester of 2010, a decrease of 21.4% compared to the same period in 2009. Sales of the Company were at 184.92 million Euros, a decrease of 23.4% compared with the first semester of 2009. 

Sales in the first semester of 2010 were affected by lower demand in the residential housing market and the overall challenging economic environment. Moreover, reduced demand in export markets traditionally supplied by the Group further impacted 2010 first semester sales. Intensified efforts and measures have been taken to reduce operating costs and optimize production and supply chain processes. The optimisation of electric power consumption, the reduction of fixed costs and distribution costs, as well as actions to increase productivity, help to partially offset the effect of lower volumes and higher fuel prices. 

The Groups earnings before taxes, interest, depreciation and amortisation (EBITDA) was 37.95 million Euros and represented a decrease of 10% compared to the first semester of 2009. The Companys EBITDA decreased by 7.9% compared with the first semester of 2009, amounting to 40.35 million Euros. 

The Group reported first semester 2010 losses after taxes of 2.46 million Euros, while in the respective period of 2009 it had 11.25 million Euros net profit after taxes. The Companys net profit after taxes decreased in the first semester of 2010 to 5.70 million Euros compared to 22.94 million Euros in the corresponding period of 2009. 

The net profit after taxes both for the Group and the Company was substantially affected by the imposition of the special levy for social responsibility in May 2010 of 6.00 million Euros for the Group and 5.85 million Euros for the Company. ### 

About the company 

HERACLES Group of Companies, a member of Lafarge, is Greeces largest cement producer, with a production capacity of 9.6 million tons per year. Operating three cement plants, in Volos, Halkis and Milaki in Evoia, six cement terminals, as well as production and trading units of aggregates and concrete, the Heracles Group has production activity in 29 prefectures in Greece and trading activity throughout continental and island Greece. Driven by a customer focused approach, brings to the market differentiated, innovative products to meet customer and end-user needs. Additional information is available on the web site at

Lafarge is the world leader in building materials, with top-ranking positions in all of its businesses: Cement, Aggregates & Concrete and Gypsum. With more than 78,000 employees in 78 countries, Lafarge posted sales of Euros 15.9 billion in 2009. In 2010 and for the sixth year in a row, Lafarge was listed in the `Global 100 Most Sustainable Corporations in the World`. With the worlds leading building materials research facility, Lafarge places innovation at the heart of its priorities, working for sustainable construction and architectural creativity. Additional information is available on the web site at

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