José de Mello Group’s business grows 20%

Consolidated turnover at José de Mello, SGPS, SA, amounted to €870 million at the end of 2006, an increase of 20%, reflecting the improved business of its subsidiaries and associates, on the one hand, and the consolidation of the business of its subsidiary Efacec, on the other.

Consolidated assets also performed well, up by €460 million, mainly the result of the acquisition of a 2% holding in EDP and a 38% stake in the Quirón Hospital Group through José de Mello Saúde. Additionally, the 50% shareholding in Efacec was included in the consolidated accounts of the José de Mello Group for the first time.

Consolidated net profit amounted to €8.1 million at the year-end, a negative deviation compared to the previous year, essentially caused by the decrease of Brisa’s contribution, whose net profit fell by 44% as a result of the fact that the 2005 included the gain on the sale of its holding in Abertis. In turn, the consolidated EBITDA increased 12% to €37 million.

In addition to the investments made and to the successful take-over bid for Efacec in partnership with the Têxtil Manuel Gonçalves Group, 2006 was also marked by Brisa’s co-leadership of a consortium set up for the privatisation of ANA (the Portuguese Airports Authority) and for the construction of Lisbon’s future international airport. Another outstanding fact was the signature of partnership agreements with CUF, Dow Chemicals and Air Liquide directed at doubling the production capacity of the Estarreja Industrial Pole, which will ensure the sale of a good part of the CUF – Químicos Industriais production.