Metis Capital Ltd.
Metis Capital Ltd.: METIS CAPITAL LTD. ANNOUNCES FINANCIAL RESULTS FOR FISCAL YEAR 2007
Metis Capital Ltd. / Final Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Total Revenues: € 104.3 million; Gross Profit: € 17.1 million; Net loss: € 0.3 million Tel Aviv/Israel; April 3, 2008 – Metis Capital Ltd. (Prime Standard: EIC; TASE: MTSC) announces its consolidated financial statements for fiscal year 2007 that ended on December 31, 2007. Itsik Cohen, CEO of Metis Capital Ltd. comments: 'In fiscal year 2007, we recorded impressive growth and achieved important strategic developments that emphasise our goal to become a sustainable investment company. The Company today focuses on investment opportunities within the automotive related field and real estate.' Total revenues of the consolidated company in the fiscal year 2007 amounted to € 104.3 million, compared to € 76.9 million in 2006. Of the total revenues, € 97.5 million were derived from the sales of cars and spare parts (2006: € 75.7 million), € 1 million were derived from rental income (2006: € 1 million), € 0.2 million were derived from business consulting services and € 5.7 million were derived from car rental and vehicle operating leasing services. The gross profit of Metis Capital Ltd. in the fiscal year 2007 amounted to € 17.1 million (margin: 16.4%), compared to € 9.6 million (margin: 9.2%) in the fiscal year 2006. The increase of the gross margin percent was mainly a result of a growth of vehicle sales and the favouring exchange rates. The operating profit amounted to € 7.6 million (margin: 7.8%), compared to operating profit of € 4.6 million (margin: 6%) in 2006. The profit before income taxes amounted to € 1.3 million, compared to a profit before income taxes of € 2.4 million in the fiscal year 2006. The net loss of the consolidated company in the fiscal year 2007 amounted to € 0.3 million, compared to a net profit of € 1.6 million in the fiscal year 2006. This is mainly due to an increase in financial expenses related to the issuance of debentures and a result of the lost verdict with Mirage. Metis Capital Ltd. recorded a net expense of approximately € 1.02 million in its financial statements for the year ended December 31, 2007. The net loss per share in 2007 amounted to € 0.04, compared to a net profit per share of € 0.20 in the fiscal year 2006. The current assets of Metis Capital Ltd. as of December 31, 2007 amounted to € 62.3 million, compared to € 42.5 million by the end of 2006. The growth derives mainly from an increase in cash and cash equivalent of the consolidated Company to € 17.7 million as of December 31, 2007 (2006: € 9.9 million), an increase in short term investments (mainly due to deposit-ing part of the immediate proceeds from the issuance of debentures in mar-ketable securities), an increase in the trade receivables, an increase in the current maturities of loans to jointly controlled entity of the consolidated Company and an increase in the inventories. The complete annual financial report may be downloaded at www.metis-capital.com. About Metis Capital Ltd. Metis Capital Ltd. is an investment house with entrepreneurial outlook that targets to invest in high-growth markets and areas of business that offer attractive returns in order to create high value for its shareholders. The Company aims at national and international investment activities. Metis Capital Ltd. is active in diversified business sectors, such as real estate and automotive related field. In August 2005, the Company has acquired fifty percent of Japan Auto Group, which includes real estate assets, a management company and the exclusive concession for the marketing of Subaru automobiles in Israel. The investment is presently the main operational focus of the Company’s cur-rent business activities and one of the focus areas of its future growth. In October 2006, the Company entered into a franchise agreement with Europcar International S.A.S.U. to operate under the Europcar brand name in providing car rental and vehicle leasing serv-ices as well as outgoing services for connecting customers with car rental agencies overseas. The Company complements its resources by forming strategic partnerships with leading financial in-stitutions, investment companies and other synergistic companies that support and grow the Company’s business activities and investment portfolio. Metis Capital is traded on the Prime Standard of the Frankfurt Stock Exchange and on the Tel-Aviv Stock Exchange. The corporate headquarter of the Company is in Tel-Aviv, Israel. Contact: Metis Capital Ltd. Yaakov Dovrat, CFO Phone: +972-3-537 3000 E-mail: investor@metis-capital.com Janina Wismar Investor Relations Phone: +49-40-60918650 E-mail: janina.wismar@kirchhoff.de 03.04.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Metis Capital Ltd. 30 Hamasger Street 61090 Tel-Aviv Israel Phone: +972 (03) 537-3000 Fax: +972 (03) 537-4000 E-mail: investor@metis-capital.com Internet: www.metis-capital.com ISIN: IL0003570129 WKN: 936734 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, München, Hamburg, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------
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