Portfolio news Sapec

Consolidated EBITDA stands at EUR 27.2m at the end of 2011 compared to EUR 31.1m at the end of 2010, and the operating income before taxes, financial costs and other expenses decreased from EUR 20.0m in 2010 to EUR 16.7m at the end of 2011. Excluding the impact of the debt from the Spanish port authorities registered in 2010, representing EUR 11.3m in EBITDA, these results therefore confirm a significant overall increase compared to 2010, although there were variations depending on the business.