LLI: Entry into south-eastern European market completed

Vienna / AT. (lli) In the financial year 2006/2007 ending on September 30, Austrian Leipnik-Lundenburger Invest Beteiligungs AG (LLI) will register new record sales totalling 775 million Euro. About one sixth of the sales are generated in Austria and five sixths abroad. The group´s EBIT will also continue to increase during the financial year 2006/2007, in expectation to 50 million Euro. The number of employees on the balance sheet date remains stable. In the end of September 2.520 employees (2006: 2.499) are expected to be employed in the group, about one fourth of them in Austria and three fourths abroad.

In April 2007 LLI had signed a letter of understanding regarding the acquisition of shares of Romanian SC Loulis SA and Bulgarian Sofia Mel SA (60 percent each) as well as of the previous Greek parent Loulis Mills SA (five percent). After obtaining the approval of the Bulgarian cartel authorities on July 03, today LLI Managing Directors Erwin Hameseder and Christian Teufl signed the minutes of the acquisition closing with the majority owner of Loulis Mills SA, Konstantinos Loulis. The two companies SC Loulis SA and Sofia Mel SA have been consolidated within the LLI group since July 01. As both companies are listed on the stock exchange, LLI has launched public tender offers in Romania and Bulgaria.

The entry into the Romanian and Bulgarian milling markets has been a crucial step in the LLI mill group´s expansionary strategy, allowing it to further strengthen its position as the number one in the European milling market and becoming a top player at international level. Currently, it occupies between place two and four in the worldwide ranking of mill groups (there is no up-to-date reporting system). The group has sites from the North Sea to the Aegean Sea.

The LLI mill group´s growth is clearly reflected in the increase in milled quantities during the last few years. While the milled quantity amounted to 430.000 tons in the financial year 2003/2004, this figure is expected to surge to about 2,7 million tons in the current financial year. After inclusion of the Loulis mills, the milled quantity is likely to climb to 3,3 million tons in the next financial year. The sales in LLI Mill + Flour segment will total 668 million Euro in the current financial year. Including the Loulis mills, the annual sales will increase to 760 million Euro. A total of about 2.800 employees will be active at 34 sites.
Read more: https://www.lli.at/englisch/3_presse/2007/2_news.shtml