The pre-tax profits of Greek glassware maker Yioula Glassworks rose to EUR 15 million (USD 20 million) for 2004 from EUR 12.9 million (USD 17.3 million) for 2003.
The company“s earnings before inter…
The pre-tax profits of Greek glassware maker Yioula Glassworks rose to EUR 15 million (USD 20 million) for 2004 from EUR 12.9 million (USD 17.3 million) for 2003. The company“s earnings before interest, tax, depreciation and amortisation (EBITDA) reached EUR 42 million (USD 56.4 million) form EUR 33.6 million (USD 49 million). Turnover was also up, to EUR 145 million (USD 195 million) from EUR 132 million (USD 177 million). Yioula Glassworks will invest EUR 43 million (USD 57.7 million) over the next few years in the modernization and capacity increase of its subsidiary Stirom, Romania“s largest glass manufacturer. Some EUR 20 million (USD 26.8 million) of the above figure will come from a loan from the European Bank for Reconstruction and Development (EBRD). Stirom is the newest of the five production units of Yioula Glassworks and was incorporated in 2003. Its annual production capacity is 120,000 tonnes of glass packaging and tableware glass, a figure which is set to rise to 150,000 tonnes after the investment. Yioula Glassworks also has a production unit in Bulgaria. Its total manufacturing capacity is 485,000 tonnes of glass packaging and 45,000 tableware glass per annum. The company has more than 2,200 employees and exports its products to more than 25 countries. Among its biggest clients are Coca-Cola Hellenic Bottling Company (HBC) and U.S. food and drink company PepsiCo Inc.